The overall trend of crude oil bottomed out yesterday and rebounded. The MA5 position of the weekly line fell back and rebounded, and the middle track of the daily line did not break below. This shows that the market is still strong. In addition, the conflict between Iran and Israel will boost crude oil, so it is good to be bullish. After all, the current...
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....
CRUDE OIL formed a nice double bottom pattern after a test of a key intraday support. The breakout of the neckline of the pattern is an important bullish confirmation. We can expect a bullish movement at least to 86.0 level. ❤️Please, support my work with like, thank you!❤️
Attention Traders, In today's trading session, our focus is on USOIL, with our sights set on a potential buying opportunity around the 84.70 zone. USOIL has recently broken out of a downtrend and is currently in a correction phase, approaching the critical support and resistance zone at 84.70. Adding depth to our analysis, it's essential to consider the...
On a seasonal basis over the last 30 years the price of Natural Gas begins to rise now into August. This year's price is tracking very closely to the historical price. I think we're about to rise at least to $2.55. NYMEX:NG1!
Crude oil analysis Daily resistance is 87.7, support below is 83.4 Four-hour resistance is 87.7, support below is 86.3 Crude oil operation advice: Today, focus on the strong pressure above 87.7 from the four-hour and daily levels, and the support below is around 86 and 83.4. When crude oil falls to 86 and 84 and is blocked, you can participate in the long...
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market's volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
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...
Fundamentals & Sentiment WTI: In general, there are global drivers for oil demand, amongst them is supply curbs from OPEC. More recently geopolitical risks in Middle east create bias for oil upside. USD: The dollar has been overbought according to CFTC reports. The risk of BoJ intervention is still there, so it's better not buy dollars anyhow as long as USDJPY...
Don't know how this plays out in the short-term... but it will explode soon (likely this spring or summer at the latest). If it does flush lower one last time, I'm looking at the $1.30 region... hitting UBER oversold on the quarterly, monthly and weekly charts.
On Thursday January 11th ( earlier today) WTI Crude prices gyrated widely likely in reaction to US /UK intervention on the terrorists who seized a tanker on the behalf of Iraq in the Red Sea / Suez Canal area putting shipping and supply concerns into the oil industry to offset any weak demand. The 15 minute chart shows a megaphone pattern as a...
The recent escalation in the Iran-Israel conflict has cast a long shadow over the global oil market. Already grappling with tight supply and high prices, oil traders are now forced to factor in the potential for disruptions caused by the ongoing hostilities. This idea explores the current situation, potential outcomes, and analyst perspectives on the future of oil...
The market's initial reaction to Iran's attack on Israel was fairly muted, with major contracts seeing little price movement. There had been concerns that Iran's attack on Israel heralded a significant escalation of the conflict in the Middle East, and that oil prices would rise as concerns about possible supply disruptions intensified. But oil prices are...
USOIL: Small-level indicators are beneficial to bulls, with resistance around 85.8-86.5. Trading is long first and then short, and the short target is 84.8-84. If the bulls are strong and break through 86.2-86.5, the top range of 86.9-87.5 will be considered.
IMPP stands to gain market cap if the barrel price of oil moves on the global markets under the pressure of geopolitics in the Middle East. While it is a domestic producer and not involved in transoceanic oil tanker transport, the price of oil is a global dynamic in real time. As a small cap, when the oil price moves and IMPP's fixed expenses remain static,...
Hi Realistic Traders, let's discuss the latest surge in WTI Crude Oil Price Why have Oil prices surged? In the second quarter of 2024, Russia plans to cut its crude oil production in line with OPEC+ agreements, gradually reducing output each month from April to June. This decision follows earlier cuts made in April 2023 and March 2024, with export reductions...
As you can see, the price reached a daily bearish FVG and had a bearish reaction, so we are looking for a sell position. I am searching for a premium entry, there is buy-side liquidity below FVG which aligns with the balance price range. Until we don't close the candle body above the Daily FVG, I am bearish. 💡Wait for the update! 🗓️15/04/2024 🔎 DYOR 💌It is...