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'...
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Zone of usoil Wait for reversal to 89.5 at least. Follow buy when day close bullish candle stick it’s a first signal fir big rebound
Crude oil (USOIL/XTIUSD): Yesterday, crude oil entered the market as planned and harvested profits, reaching a perfect position of 72.2, with a profit of 140pips. Today it opened at 72.1, rising by 5 US dollars in the morning and then falling back, similar to the trend of the previous two days. The bulls resisted tenaciously in the morning. Although there is...
Another Good News to the World. Any close below 74.60, as per 3Months chart, #Brentoil will fall to minimum 64$, below that 42.12. Unless these levels are not tested, Brent oil won't make new high or another Bullish Move
Hello,Traders! CRUDE OIL keeps falling down But will soon hit a horizontal Support level of 72.14$ from Where a bullish rebound and A move up are to be expected Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!
Oil was supported near 72, has now risen, has broken through the downward trend, and is now in shock If the oil does not fall below the important support of 72 this week, we can be sure that the oil may have reached a phased bottom. So this week we need to pay important attention to the support strength of 72. If it falls below, the oil will look for the...
Dear colleagues, I believe that the downward movement is not over yet. At the moment the price is in the formation of wave 3. I consider the support area at 72.29 as the ultimate target.
OPEC has not taken a real approach to enforce compliance with selective production cuts, and the production cuts are expected to continue until the first quarter of 2024.Since OPEC's meager production cuts of one million barrels per day are unlikely to offset the impact of the decline in global crude oil demand, it is expected that there may be an oversupply of...
The value area is between 76.5 - 78.5 Be careful about your RISK The target will be 84$
WTI is again in the value area and good for long positions. Manage your risk and set some buy limit in different prices like 70.5 - 71.5 - 72.5 By manage your money wisely you can earn money with out worrying about losing your money. If this area breaks and oil falls more don't panic! Just keep your positions and buy in the lower levels
Our overview: Weakness and negativity prevail waiting the API report tonight. In the overnight session price steady at the support area @$73.00. Technical signals: RSI negative and Stochastic negative. Trends analysis: Primary(purple): downward impulsive structure wave 5, intermediate(green): corrective structure wave B, minor(yellow): impulsive structure wave...
Crude oil (USOIL): Crude oil opened at 73.3 today. It was volatile in the morning and the market was running slowly. Yesterday’s crude oil was long and short in shock, and the range also had an amplitude of 20 US dollars. However, the overall trend was still suppressed by the pressure from above and could not break through. The bulls were not to be outdone. ,...
The outlook has turned bearish for the WTI. This is mainly because the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) reside deep in negative territory and as the price is seen below its 20,100 and 200-day Simple Moving Averages (SMA). This indicates that on the shorter and broader scales, the sellers are dominating. Resistance...
Oil prices saw a decline due to skepticism about OPEC+'s output cuts and concerns over growing supply overshadowing potential disruptions in the Middle East. U.S. crude settled 1.4% lower at $73.04 a barrel, and Brent dropped 1.1% to $78.03 a barrel. Despite announcements of output cuts, the lack of confidence in compliance and doubts about measurement methods...
Oil Looking very weak! Natural GAs is almost ready to accumulate on the long side. XLE putting in bearish consolidation!
USDCAD is going to be rejected from the Mother of all trendlines. In the hypothetical scenario of the United States, the European Union, and China entering a massive recession in 2024, the global economic landscape would witness unprecedented challenges. With China in a state of economic coma, a significant powerhouse would be immobilized, disrupting global supply...
✅CRUDE OIL is trading in a Downtrend so I am bearish Biased mid-term however, Oil is locally oversold so After it retests the horizontal Support level below at 72.50$ I think that we will see A local bullish rebound LONG🚀 ✅Like and subscribe to never miss a new idea!✅