5DMA (red) declining so I only look for (swing) shorts. Anchored VWAPS (blue).
WTI Oil (USOIL) eventually hit our 71.00 target we set last week (see chart below) upon the dotted Channel Up break-out: The price is now attempting a rebound following the breach of the 1W MA200 (red trend-line), which is a typical procedure throughout 2023 and delivers a strong rebound. However, we we will our perspective short-term until the Channel Down...
Crude oil is trading in a bearish trend on a daily. After a long-lasting consolidation within a horizontal range, the market violated its support on a daily and set a new lower low. Retesting the broken structure, the market started to coil within an intraday range. Its support breakout gives us a strong intraday confirmation. A bearish movement is now...
i think we reached to over-selling and to good support to buy the oil from now with target between 72-74$
Please, check our technical outlook for USOIL. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 73.02. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all...
USO on the weekly chart over the past two and a half years makes a symmetrical triangle patter with the upper and lower trendlines drawn in. Price appears to be dropping out of the pattern in a breakdown and she now yet tested the prior support trendline as resistance. The Stochastic RSI and Zero Lag MACD are confirmatory. The Relative volatility indicator...
XLE is seeing tremendous underperformance vs broader inflation products and growth equities and I believe that it may see lower prices soon. 85 seems to be a major point of contentious for the market and stocks like CVX, XOM and COP aren't doing bulls any favors. We'll see what this one has in store for us...
We have a possible Rectangle pattern with a target at 65.000, as long as the price does not break the 80.000 zone.
USOIL big support zone coming up! Will be looking for long positions when price reverses! Let me know what you think! Trade with patients and manage your risk at all times!
WTI Crude Oil crossed today under the 1W MA200, which is a level that, even though it broke on occassions this year, hasn't closed a 1D candle under it since February 1st 2021. Those occasions are marked by circles on your chart and as you see despite breaking under it, the price rose intraday closing the candles over the 1W MA200 at the end of those sessions,...
Ngas broke channel structure and is heading lower. This is interesting, if energy gets low then inflation will fall and rates and the dollar will come down.
Dear Colleagues, I believe that wave 5 is not fully formed yet, so the price will move down a bit more. Presumably to the support area of 70.81. After that I expect a strong corrective movement. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hi Traders ! The USOIL Reached a Strong Resistance Level (79.72 - 78.47) The Price Formed a Rising Wedge Pattern. Let's Expect The Bearish Scenario: If The Price Breaks The Support Line and Closes Below That, I Will Sell on Retest... TARGET: 70.50🎯
#USOIL... market just placed his supporting area in yesterday, and hold it sofar, day closing above that area 72.60 mean there is something, now if market hold it then again bounce expected from here otherwise sustained breakage will leads you towards further downside areas, keep close and don't hold your buying positions below 72.60... trade wisely good luck
TRADE DIRECTION: SHORT; as indicated by the red EMA cloud and the market structure. KEY LEVEL: 1) Round numbers S&R with 25 ticks range between each level (hidden) 2) Monthly, Weekly and Daily Pivot levels. TRIGGER SIGNAL: Price broke the previous day's low (green circle) and retraced to the bearish EMA cloud. A bearish pin bar (in yellow circle) formed as a...
As We Talked in The Previous Analysis: The USOIL Reached a Strong Resistance Level (79.72 - 78.47) The Price Formed a Rising Wedge Pattern. Currently, The Support Line is Broken and Now The Price Will Continue its Bearish Movement ! __________ TARGET: 70.50🎯
Oil continues to decline after retesting resistance at 79. The next target is 70. Amid a gloomy economic backdrop, fuel demand is falling. The chart clearly shows that the price is heading towards the bottom zone.
The market's reaction to OPEC+'s announcement of voluntary production cuts was a further decline in oil prices. According to reports, investors were pessimistic about crude oil ahead of the OPEC+ meeting and had already priced in their expectations that production cuts would not be enough to push oil prices higher. The market's economic recession and investors'...