Price action has been very choppy on the daily crude oil chart, but if we place a line chart over the top is shows prices are trying to break out of a small triangle / pennant. Whilst these are usually expected to be continuation pattern, they can also make decent reversal pattern. And this case, we've see prices hold above $70 on a closing basis, and the lower...
Based on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
Good evening and i hope you are well. wti crude oil Here my commentary from last week: If you have read the gold one, this one is self explanatory i think. Market is compressing prices and will soon break out. Which direction? Guess. Your’s is as good as mine. I won’t say more about it. Breakout will come soon, so if you haven’t played the range so far, you...
crude oil last trading week completed its bullish structure, thus indicating the potential for price to exceed $90 in the coming days. The market has witnessed the formation of a bullish structure characterised by higher-low and higher-high, signifying a positive momentum in the oil market. N.B! - USOIL price might not follow drawn lines . Actual price movement...
Brent oil last trading week completed its bullish structure, and thus indicating the potential for price to exceed $90 in the coming days. The market has witnessed the formation of a bullish structure characterised by higher-low and higher-high, signifying a positive momentum in the oil market. N.B! - UKOIL price might not follow drawn lines . Actual price...
With the slowing of oil production and conflict at the Nile, I think that oil prices are going to increase, if the fed decides to cut or leave interest rates unchanged this may weaken the USD and strengthen other currencies creating more demand for oil and if inventory continues to lessen you will see a further surge in oil prices. otherwise, if the fed...
CONGRATULATIONS to all✅ as i told you was had a big potential to continue pushing up cause the breakout of the channel was enough
CRUDEOIL FUTURE - Entry - 6343 Target - 7542 Stoploss - 5800 watch it ....
Crude Oil broke and closed above a key daily structure resistance. The broken structure turned into support. We can anticipate a bullish movement from a broken structure. Next resistance - 78.40 ❤️Please, support my work with like, thank you!❤️
Good evening and i hope you are well. Here is a quote from my substack on Monday about oil: "Most interesting market today. I do believe its a breakout of the bear channel, beginning 2023-09, if bulls can generate follow through tomorrow/Wednesday. The trend line on higher time frames is more of an area than a narrow line with exact prices. But we are there and...
#USOIL.. market is in range from last 4 to 5 weeks. The reason is market have upside strong resistance. If it will continue his range trading then again drop expected from here. Otherwise if market clear upside then upside areas also mentioned. Trade wisely Good luck
The entry prices for long position at 71.80 and 70.60 offer attractive entry points near support levels. A stop-loss at 70 provides a good risk management buffer, limiting potential losses if the trade turns against us. The target prices at 73 and 75 represent potential profit levels based on technical analysis.
WTI Crude Oil formed a double top pattern after a test of a strong horizontal resistance. Its neckline breakout is a strong bearish confirmation. We can anticipate a retracement at least to 73.0 level now. ❤️Please, support my work with like, thank you!❤️
As I mentioned in the Weekly Outlook video, I expected the fair value gap + the bullish breaker block to hold price, and provide support for a potential rally. It chopped since Tuesday, but we've seen the bulls come in and slowly start to move price higher. I expect that price will continue that move today. I am looking for price to pullback a bit, after taking...
Based on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
Price retest of 73.865 area, New York Session open await pullbacks to POi. 1hr time frame price rejection, 1 min entry after Price ChoC, and Break of structural low. TakeProfit : 72.515 (1.272 Fib Extension)
Here are the important key levels & structures to watch next week on WTI OIL. Support 1: 69.3 - 70.4 area Support 2: 67.7 - 68.7 area Resistance 1: 75.2 - 76.2 area Resistance 2: 78.5 - 79.7 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️