Crude oil has recently encountered resistance and experienced a pullback from this level. However, it is currently trading within an ascending channel, suggesting that the bears are losing momentum, while the bulls are gaining control of the market dynamics. Key Observations: 1. Resistance Encounter: Crude oil faced resistance at a significant level, prompting a...
My weekly bias is for price to trade up to previous weeks highs, but Mondays price action has me leaning towards a pullback before we trade up mid/late week. Today's candle was quite bearish, so I am looking for price to trade down to Monday's lows, and possibly trade into the untapped lows from several daily candles formed last week. I want to see price trade...
Yesterday, OPEC and its allies announced plans to extend a voluntary oil production cut of 2.2 million barrels per day through June 2024. Currently, the USOIL trades near $80.20 per barrel, and its structure is undergoing a significant change. Since late November 2023, the USOIL has traded predominantly sideways between $70 and $80 per barrel. However, last week,...
Pair : Crude Oil Description : Completed " 12345 " Impulsive Waves and " A " Corrective Waves Break of Structure and Retracement Fibonacci Level - 50.00% / 61.80% RSI - Divergence Bullish Channel as an Corrective Pattern in Short Time Frame
Crude Oil is currently testing a wide horizontal supply area. Its bullish breakout may trigger a strong bullish movement. Daily candle close above 80.8 will confirm a violation. A bullish continuation will be expected to 82.4 level then. ❤️Please, support my work with like, thank you!❤️
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...
Simple analysis on the Monthly timeframes. There is trendline liquidity residing above, which I believe is the next draw on price. With that in mind, I noticed price react nicely off of a 5-Month FVG and Orderblock. With that in mind, I'm anticipating price using the current Sibi that it is in to become an iFVG. I would like to see a Monthly candle close above...
NYMEX:CL1! It has formed an Inverse Head and Shoulders pattern on the 4-hour chart. If it breaks above the bullish line around $79, we can expect a rise to $90 very soon. This expectation is supported by the PPI and CPI data, along with China reopening next week, which will likely push oil prices higher.
Hello friends In the 3H chart we can see a main Order Block at 71.35, couple Free Value Gaps, a Triple Top and an Ascending Triangle Pattern. This is the best place to SELL Oil (unless something major in The News happens). TARGET = 72.00
USOIL finds itself at a critical juncture, facing a formidable horizontal resistance level at 79 that has proven unyielding since November 2023. However, a noteworthy development is underway as it sustains its position above the DEMA100 for the first time since October 23. Furthermore, there is discernible formation of an inverted head and shoulders pattern...
Good day. WTI. Last month showed interesting upward and downward movements; in anticipation, everything closed for an upward movement. Due to the instability in the Middle East and lower Africa, and indeed in the world, these factors influence more likely the Growth of Oil, but let's move on to the Technical Picture. Since the beginning of the year it is trading...
if you had the intention of buying an oil or gasoline car in the following years, think again. The price of oil will skyrocket. Chart show's the possibilty of the cup and handle pattern and the target.
Good evening and i hope you are well. Quote from my weekly outlook: short term: slight favor for the bulls to reverse Friday and trade above 79, there could still be resistance if bulls won’t push above with some force. bears win below 75 for at least 74 or lower That outlook was good for 300 pips. Hope you made some. bull case: Bulls got exactly what i...
Pair : Crude Oil Description : Bullish Channel as an Corrective Pattern in Short Time Frame and Rejection from Daily Resistance RSI - Divergence Break of Structure Symmetrical Triangle as an Correction in Short Time Frame with the Breakout of Upper Trend Line
Oil had a very strong daily close on Tuesday, and appears to be heading for the highs of the weekly range. My Draw on Liquidity is Tuesday's high, as well as 79.09 and 79.36. I am hunting a long setup. I would like to see H4 candles closing with rejection wicks into the H4 bullish FVG's. A close of this nature will authorize me to hunt m15 long entries.
Defying our expectations, the West Texas Intermediate crude oil rose above $75 and began to form a rectangle pattern between $76.16 and $79.25 (following a breakdown of negotiations between Israel and Hamas). Currently, the USOIL is trading near the lower bound of this range, which also coincides with the 20-day SMA that acts as an alternative support level. On...
Almost 3 weeks ago (February 07, see chart below), we gave a strong buy signal on WTI Oil (USOIL), right at the bottom (Higher Lows trend-line) of the 2-month Channel Up: The price is approaching the 81.50 target right at the top (Higher Highs trend-line) of the Channel Up. Since however we see a strong Resistance Zone that has been holding since the previous...
Price action analysis for Crude Oil. Important key levels. Potential scenarios. Trading plan explained. ❤️Please, support this video with like and comment!❤️