Now the situation that fundamentally pressures the price of oil , it is the sale prices of oil from Russia, and this is a trigger for the market, for a further decline. Now we are moving in a range of 83-69, breaking through the upper level will mean for me, reaching the liquidity zone, collecting stop losses and continuing the move down Best regards EXCAVO
• Oil prices remain under pressure despite receding banking fears • Major technical breakdown suggests more losses could be on the way • Will the OPEC come to the rescue? After falling by 8% at one point, crude oil prices managed to bounce back from their worst levels on Wednesday along with everything else. The rebound came on the back of news the Swiss...
UKOIL 8hour chart review/outlook. Broke key s/r recently so expecting weakness next 4-8 weeks. Previously compression intro triangle pattern and sequence of higher lows was invalidated recently with break of 83.50 USD. sequence of higher lows at 76.50 and 79.85, but broke down with recent sell side pressure mounting due to US banking crisis. Based on measured move...
Following monthy chart. Before I shared a short setup an it hit the target Then shared a long setup, it hit the target This time it's a bit concerning. I got a short signal from my indicator and I think target will be 45.27 in fibo. SL 112. This means recession, something bis is coming soon.
On a today's live stream, we discussed WTI Oil. The price formed a tiny double top pattern on 1H time frame, approaching a wide supply cluster. Its neckline was broken. I expect a bearish continuation to 70.9 now. ❤️Please, support my work with like, thank you!❤️
Due to positive data, the oil price continues to rise. Our long position took profit at 76.3. Currently, it seems that there is still momentum for oil to continue its upward trend, with the MACD indicator showing a second bullish crossover on the 2-hour chart. Resistance is near 78.5, so I believe we can continue to enter long positions with a trading strategy...
Crude oil price has been moving between 70 & 83 since Nov. 2022. In the process forming contracting (or symmetrical) triangle. A strong bullish close above the upper descending line will make crude oil price to be bullish while a close below the lower descending line will invite more bears for oil. With price hovering currently on strong support level, oil most...
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M formation has formed over the Rising Flag. This confirms not one but 2 bearish patterns in the making. There is a strong chance of the price coming down. and we have other indicators confirming. 7= 21 - crossing Price <200 RSI<50 Target $67,71
The crude oil is currently trading around 74.8, with some support visible on the 4-hour chart. In the short term, there is upward momentum observed on the 1-hour chart. As a trading strategy, one can go long near 74.8 and target 76.3, with the possibility of further upside if the resistance at 76.3 is breached. If unable to break through, a short position can be...
At the start of the Asian market on Thursday, crude oil is currently trading around $76.5 per barrel. On Wednesday, crude oil continued to fall as concerns about more aggressive interest rate hikes weighed on economic growth and oil demand, outweighing the larger-than-expected reduction in US inventories. Although yesterday's decrease in crude oil inventories...
In the early Asian session, US oil traded near $77.20 per barrel. On Tuesday, crude oil plummeted more than 4%, affected by Chairman Powell's speech exacerbating concerns about interest rate hikes and a stronger dollar. Powell stated to lawmakers on Tuesday that the Fed may need to raise interest rates more than expected to respond to strong recent data, which...
Jerome Powell momentum will correct the energy sector down before another leg up. Still seeing triple digits WTI crude in 2023, this is just another swing. TP 77.2 SL 82
Hello traders! In my opinion, in medium term this pair is buy. Target: Buy 1.0722 ; 1.0784 Be careful and wait for a confirmation! Don`t forget to look at the economic calendar! MAKE MONEY AND ENJOY LIFE 💰 THANK YOU! GOOD LUCK! 🙏🏻🙏🏻🙏🏻
WTI Crude Oil reached a key daily structure resistance. The price formed a tiny little double top on that on 1H time frame. Its neckline has been just broken. The market will most likely keep retracing. Goals: 79.9 / 79.6 ❤️Please, support my work with like, thank you!❤️
Wave (2) in crude is taking shape of a wxy structure where only C of y is left. I count 1-2/1-2 from 23/02 low. I expect to see a strong move at least to 90, then pb in 4 to 88, then up again to 94 target in 5 of C.
Brent Confirm the Weakness after Close Under 84.700 , We may trade now in wave C that target level 70.20 …. close above 86.50 cancel this idea