This may come as a shock to all of you but we are at the lower end of the market historically, and we have begun to see the rapid decline of market trends. Long positions are being made which is why we are seeing such a short market to buy up all the great pricing for a swing to the 100s in the mid-year rise. this cycle will place us in new market highs pretty soon.
Oil has reached the Monday Low now and hit the reversal zone we might expect SOME BUY opportunities. RED CHOCH (change of character) on 1D chart has stayed for months. But,,, I am surprised of other people analysis hoping to get 90.00 USD from Crude Oil by the end of January 2023 . This thesis of 90.00 USD produces allot of confusion and LOSS for...
WTI Crude Oil is at a key support level now and i don`t think we have seen the last of it. OPEC+ unexpectedly decided to cut output in October by 100,000 barrels a day. It`s not much for now, but they will continue cutting the supply until they will get the oil to $90. I`m looking for a bounce to the $85 - $92 area before heading to $62 by the end of next year,...
Looking for higher prices in Crude Price cap talk, Diesel shortage and OPEC+ cuts all hint on higer prices
After Saudi Arabia denied a report that it was discussing an increase in oil supply with OPEC and its allies, there are now reports that they will promise additional measures to ensure oil market stability. Saudi and Iraqi energy ministers have been reported saying that there is an importance of working within the OPEC+ framework. as a consequence, oil rose in...
Shown is an overlay of Bitcoin's previous top ~$69k. We are showing very similar price action of a wide, heavy range at highs, with the micro lower highs on the underside signalling a continuation / blow off top spike is possible. Product supply is increasing from several refineries opening from maintenance alongside seasonal demand, allowing for the current...
When crude was trading at $120 a few months ago, all you would hear on Twitter from people like Javier Blas from Bloomberg and other propaganda pundits is about how the fundamentals of oil are so bullish, because OPEC production is maxed out, the Russian Federation's invasion of Ukraine, domestic demand because summer, the government donating the strategic...
The chart may suggest a next move for US WTI Crude Oil Price. When the ongoing price correction which may lead to $80/bbl area satisfied market sentiment, price may start to enter a bull demand for crude oil. The eventual short to medium term target may be to as high as $150/bbl, meanwhile sustain trading below $75/bbl destroy this scenario which may take crude...
Reviewing the daily chart shows extreme pressure to the downside over recent days, yet the bottom trend line held. We are still range bound with no clear trend, however analysing the current range, an uptrend is assumed. It is important to counter in the news and market sentiment. With ongoing conflict affecting supply chains, and concerns over supply chains...
28/03/2022 FORECAST FOR WEEK 5 MARCH 2022 = BULL DAYS WEEK 4 OF MARCH FORECAST WAS = BULL = ACCURATE PROBABILITY FOR WEEK 5 MARCH = BULL This week opened Bull with some of the lowest volumes in a while indicating price can easily rise further. Tuesday produced a small bear candle noting an increase in volume, decent too. This didn't produce any move the next...
Prices are on bullish momentum and abiding by an ascending trendline. We see the potential for a bounce from our buy entry at 103.9 in line with 61.8% Fibonacci retracement towards our Take Profit at 113.5 in line with 50% Fibonacci retracement . RSI is at levels where bounces previously occurred. Any opinions, news, research, analyses, prices, other information,...
On the H4, with price moving above the ichimoku cloud , we can expect bullish continuation from our entry at 90.72 in line with 78.6% Fibonacci retracement towards our take profit at 99.74 which is a strong resistance and in line with 78.6% Fibonacci retracement . Alternatively, price may break entry structure and head for stop loss, which coincides with the...
26/02/22 FORECAST FOR WEEK 1 MARCH 2022 = NO CLEAR CALL COMBINED FORECAST FOR MARCH 2022 = BULL (with an initial bearish start) DAYS WEEK 4 OF FEB FORECAST = BEAR = INACCURATE PROBABILITY FOR WEEK 1 MARCH = NO CLEAR CALL POSSIBLE This week was fairly neutral, until Thursday when a significant shooting star formed. The volume towered over all previous volumes,...
Good Afternoon Traders, WTI weekly chart seems to be forming the same price action between January 2018 and October 2018. RSI chart losing momentum while price getting new highs. Price should pass Oct 2021 highs to lose momentum and get in the range between $50-65. I decided to watch Crude oil and set up some alerts regarding its price action. I will...
Hey traders, Contemplating this bullish rally on WTI, here are the major key level to watch for pullbacks. 77.0 - is the structure resistance that went broken this week. Now it turned into a support 91.0 is a minor monthly/weekly resistance. The price may retrace from that. 107.0 - 115.0 is a major monthly resistance cluster. A strong bearish reaction will...
Oil prices have rebounded strongly over the last couple of weeks, with WTI coming within a whisker of $70 before profit-taking kicked in. The pullback today was short-lived and after falling close to $67 it recovered the bulk of the losses to trade in between two key technical levels. Above, $70 is an important psychological barrier that coincides with the...
Oil has stayed within this long term trend channel since June of 2020. Today's -3% move placed WTI at the bottom of this trend channel $64.20 If we don't get a reversal here...I don't see another good support until $62.