The supply side of the global oil market continues to reduce production, and oil prices continue to rise in the short term. A ban on fuel exports announced in Russia last week raised supply concerns and demand woes from future interest rate hikes. In the current context of the crude oil market, we need to pay attention to the fact that once the Federal Reserve...
Crude oil reached the 88 point three times yesterday and then fell back to today's opening point of 87.27. But support continues to rise. In my post yesterday, I talked about how crude oil will continue to try to break through 88 and then drop to range trading. Everything is as per my analysis. We have mentioned too many times regarding the macro data of crude...
Crude oil prices rose to a nine-month high after Saudi Arabia and Russia extended notices of voluntary supply reductions until the end of the year. After hitting a high of 88, crude oil fell into a high and volatile situation. It has tested the suppression of the 88 line three times. With the high point clearly suppressed, the bulls encountered resistance when...
Hello traders it seems like Oil may be taking a bearish turn here are our bearish clues : - Break in market structure ( Failed to create a higher high , which indicates that the trend may be reversing) . - Bearish RSI divergence (Higher Highs on price but lower highs in RSI indicates that buyers are loosing strenght). - Classic Reversal pattern Head And...
Crude oil prices have been rising in recent days after the announcement of production cuts. The highest breakthrough was the 88 resistance level. The rising situation at this stage has reached a bottleneck stage. We need to pay attention to shock adjustments in the future. We need to focus on the 85-85.8 support level below, and the 87.5-88 resistance level above.
Mid-term trend of crude oil: After the correction in August, oil prices still did not stop the rise in oil prices. Saudi Arabia and Russia announced crude oil production cuts in July 2023, originally scheduled for a one-month period, and the latter two extended the additional production cuts twice to the end of September, and this time, another extension by the...
Hello traders in my opinion USOIL is approaching a strong support zone on spotted the weekly time frame via a brearish trendline and a falling support i think that if it bounces back from that zone + the falling support , breaks the trendline and retests we might see a Bullish correctional movement just an opinion not financial advice
hello big trader boys and big trader girls , this is my first idea on tradingview after doing analysis on USOIL on the Daily T.F . USOIL looks bullish to me we have a double bottom with a broken neckline and managed to break a really strong trendline i think that it will be bullish and we will see usoil on the 102-103 levels soon i would wait for a neckline...
Crude oil prices can hit low $50s if the key short-term support around $57 gives way. The bulls failed to keep the price above $60 despite increased tensions in Iraq, Iran and Libya, three major oil producers.