USOil | New perspective for the week | Follow-up detail

The US oil still found a way to finish in neutral territories as bulls jumped in to buy into a market that scraped three-week lows just two days earlier at the $74.00 zone. The hopes of increased demand are still a possibility in this market as the Chinese government (the world's largest importer of crude oil) has lifted all COVID restriction policies hereby opening their economy for renewed transactions. From a technical standpoint, the appearance of buying pressure above the $76.00 level this week will be seen as an endorsement of bullish expectation, and failure to sustain a break above the $76.00 level has a high chance of inciting a sell-off, prompting a drop to new lows.

00:20 Reference to last week's daily commentaries and results
03:35 USOil Technical analysis on Daily chart
06:25 USOil Technical analysis on 4H Timeframe against next week
08:35 Conclusion on next week's expectation for the USOil

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Trade active:

Trading activities have started the week on a bearish note as price action drops below the key level at the $u76.00 level but caught within a channel. We are remaining patient for trading opportunties.

Good morning

Trade active:

Secure sell position

Trade active:

Secure sell positions as buying pressure is observed

Trade active:

OUTLOOK ON 15-minute Timeframe

Ensure all sell positions as the chances of a breakout/retest of the $75.80 level increase.

Trade active:

Buy position triggered; secure position

Good morning

Trade active:

Second position was triggered as price action breakouts $76.68 zone; secure all positions as we look forward to more opportunities.

Trade active:

Secure all buy psotions

Trade active:

Secure all buy positions as we look out for opportunities to add more positions

Trade active:

Selling pressure resumes; please note a breakdown of the trendline and $76.68 will welcome selling opportunities

Trade active:

Secure buy positions as selling pressure is observed below $77.85

Good morning

Trade active:

Just as discussed during our live session this morning; selling pressure continues and when a breakdown of the $77.40 happens then this will signal weakness of the bullish trendline thereby inciting a selling opportunity.

Trade active:

sell position triggered with 65pips running in profit; secure sell position

Trade active:

2 positions running in profit; secure all sell positions

Trade closed manually:

Price action takes out the sell positions with a small profit and price action appears to be doing a retest of the trendline and $77.40 level. Waiting for this candle to close... will be sharing an update on the lower timeframe in a moment

Trade active:

A fresh new perspective on the 1H Timeframe. Let's anticipate these trading opportunities... Best of luck

Trade active:

Trade active:

Selling pressure continues

Good morning

Trade active:

After taking out the sell position at break-even; just as discussed during our live session this morning (see video on my channel) the breakout of the $77.50 level triggered the buy-stop order. Secure buy position

Trade active:

update

Trade active:

The appearance of selling pressure has a high chance of inciting a bearish momentum at the breakdown/retest of the $77.85/77.50 area

Trade active:

Secure buy position

Good morning

Comment:

Trade active:

Buying pressure resumes as price action takes out the sell position

Trade active:

Buy position triggered at the breakout of the $78.30 level; secure buy position and happy weekend to you all... Cheers!