Crude Oil (May)
Yesterday’s close: Settled at 85.41, down 0.25
Crude Oil futures have traded in a quiet range, going back through last week, outside of an early Friday morning geopolitical spike. A slate of economic data from China last night printed better Q1 GDP results at 5.3% versus 4.8%, but Industrial Production and Retail Sales whiffed. However, U.S....
WTI oil (XTI/USD) has bounced off the pivot which has been identified as a pullback support. Could this commodity continue to rise towards the 1st resistance?
Pivot: 84.99
1st Support: 83.52
1st Resistance: 87.77
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose....
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 85.05 which is a pullback support.
Stop loss is at 83.50 which is a level that lies underneath an overlap support.
Take profit is at 87.30 which is a pullback resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin...
WTI oil (XTI/USD) is trading close to the pivot which has been identified as a pullback support. Could this commodity find support around this level before potentially reversing to rise towards the 1st resistance?
Pivot: 85.57
1st Support: 83.22
1st Resistance: 90.40
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you...
USOIL prices have been on an upward trend in recent weeks, driven by supply concerns and geopolitical tensions in the Middle East. The price has approached a key resistance trendline area, where a breakout or pullback could occur.
If the price breaks above the resistance trendline area, it could signal a continuation of the uptrend, with potential targets at...
WTI oil (XTI/USD) has made a bullish reaction off the pivot and could potentially rise towards the 1st resistance.
Pivot: 85.20
1st Support: 83.52
1st Resistance: 86.89
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 85.03 which is a pullback support that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 83.60 which is a level that lies underneath an overlap support and the 50.0% Fibonacci retracement level.
Take profit is at...
Crude Oil (May)
Yesterday’s close: Settled at 86.21, up 0.98
Crude Oil futures slipped early yesterday due to the broader risk-off sentiment and saw further selling on larger builds within the weekly EIA inventory data. However, price action held major three-star support (newly adjusted to 84.55-84.69 and 84.90-85.10) before geopolitical premium brought a fresh...
Market positioning data from the COT report shows that asset managers and large speculators are piling into longs, yet shorts remain subdued. The price on the 4-hour chart also shows an established uptrend within a bullish channel.
Prices have not yet completed a 3-wave retracement against the trend, hence the bias for a slightly deeper pullback before its trend...
Crude Oil (May)
Yesterday’s close: Settled at 86.43, down 0.48
On Friday, geopolitical premium helped the nearby month in Crude Oil futures traded to the highest level since October 23rd, and the May contract hit the highest since June 2022. Price action gapped lower from the 86.91 settlement on the open Sunday night, but strength into the onset of U.S. hours...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 85.033 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level.
Stop loss is at 83.400 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level.
Take profit is...
Resistance Levels:
1. Resistance at $89.01 and $91.11: These levels represent significant barriers where selling pressure may intensify. Traders should watch for price action near these levels, as a breakout above could indicate further bullish momentum.
2. Secondary Resistance at $93.73 and $95.00: These are additional resistance levels beyond the initial...
✅CRUDE OIL is trading in an
Uptrend and oil broke the key
Horizontal level of 85.00$
And we are seeing a retest
And a rebound so I think
That the price will keep growing
LONG🚀
✅Like and subscribe to never miss a new idea!✅
Crude oil prices opened lower on Monday. WTI crude oil prices were at $85.75 per barrel, down 1.05%. Brent crude oil prices were at $89.97 per barrel, down 1.32%.
Oil prices retreated on signs of a possible ceasefire between Hamas and Israel. However, Iran's response to the Israeli attack on Tehran's consulate in Damascus remains a factor in rising oil prices,...
WTI oil (USOIL) could fall towards a pullback support and potentially bounce off this level to climb higher.
Buy entry is at 85.758 which is a pullback support that aligns with the 23.6% Fibonacci retracement level.
Stop loss is at 82.400 which is a level that lies underneath an overlap support and the 61.8% Fibonacci retracement level.
Take profit is at 90.325...
If you haven`t bought the dip on USOIL:
In the chart, there's an inverse head and shoulders pattern visible.
Coupled with robust travel demand anticipated this summer, I predict USOIL could reach $90 during this season!
WTI Oil (USOIL) hit our long-term 82.50 Target last week, a call made early this year (January 12, see chart below) when the price was still at $74.33:
At the moment, the price sits above the 1W MA100 (green trend-line) for the first time since the week of October 23 2023, as the week opened above it. This calls for an upward extension similar to the...
