A few weeks ago, we expressed our bewilderment at the U.S. administration and its handling of the oil stockpiles. Despite oil plummeting below $70 during the summer, officials did not take the initiative to refill the Strategic Petroleum Reserves (also canceling plans to buy oil in July 2023), prompting us to speculate about what trick the administration could...
Oil prices have continued to decline, marking the third consecutive session of losses. This decline is attributed to a series of sluggish economic data releases from Germany, the eurozone, and Britain, which have raised concerns about energy demand. Brent crude futures dropped by 2%, down $1.76 to $88.07 per barrel, while U.S. West Texas Intermediate crude futures...
Hey Oil Traders! 🤟 Oil is at a critical S/R level of $88, and it's anyone's game right now. 🎯 📈 Recent Trades: Went long under $70 and short at the $93 top. Nailed it! 🎉 🔮 Next Moves: It's a 50-50 toss-up. Could go to $93 or drop to $82. 🪙 🤷♂️ Why I'm Not Trading: With such uncertainty, why risk it? There are better setups out there. 🎣 📊 Other Setups: If...
WTI Crude Oil hit the Falling Support, the 3rd time making contact with and turns into a short term buy. Target 89.75 (Resistance A at 89.80). The medium term pattern is a Channel Up so id the Falling Support fails, take the small loss and wait for the bottom of the Channel Up to breaks. Sell and target 79.00 (1week MA50). A bearish reversal is quite probable at...
Dear Colleagues, I expect that the price is in an uptrend despite the decline in recent days. I believe that the price will rise quite high to the level of the maximum of the 3rd wave 91.00-92.00 . Now I see the nearest target in the resistance area at 87.89. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Over the weekend, a new conflict broke out in the Middle East after Hamas, a designated terrorist organization, initiated an assault on Israel. This attack is already roiling the oil market, which saw oil prices rise more than 5% after the futures market opened. However, it is possible the impact has not been fully felt yet, considering the potential for further...
Dear Colleagues, The price continued downward further than I thought it would. I believe that wave C may reach the support area of 81.94, then I expect the price to rise. The nearest target is the resistance area at 87.89. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hello,Traders! USOIL was falling in a Strong downtrend and oil Is clearly oversold so as the Price is making a rebound From the horizontal support Of 81.78$ I think we will see A further local move up Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!
WTI Crude Oil crossed under the 1D MA50 (and the Channel Up) for the first time since July 6th turning the 1D technical outlook bearish (RSI = 35.225, MACD = -0.060, ADX = 34.325). The short term timeframes are oversold so expect a minor spike to the 1D MA50 or near the 4H MA50. We will use that as our new sell entry and target the strong support zone consisting...
✅USOIL is falling down and It broke yet another key Horizontal level of 84.44$ Which is now a resistance And the breakout is confirmed So I will be expecting Bearish continuation SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
I think oil will now bounce to test $94. I'm short term bullish; medium term bearish. Oil took a hard dive "low liquidity run" through the previous swing-low which was taken out. The next swing-low is $77-ish. But we are hitting 20 week MA and prior old highs at the same time. Thus the slow stochastic weekly losing embedded (was above 80 now falling below 80)...
Dear Colleagues, the price is in the area of long positions set. Renewal of the minimum is possible. Be careful! The nearest target is the resistance area, the maximum of wave 3 - 92.57. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
WTI oil is going to test 84.5$ level while Dollar is going green, probably it’s will go down more than this level. we will wait to see price move after test the level. Wish you best trades
Hello,Traders! CRUDE OIL fell down Sharply but will soon hit A horizontal support From where I will be expecting A bullish rebound Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!
Dear colleagues, the price is completing wave 2 of low order, so I assume that wave 3 will update the maximum and the nearest target is the resistance area 94.93. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Dear Colleagues, I believe that wave 5 is not completed yet, but the price should make a correction to continue. Perhaps the price will reach the area of 50% Fibonacci level 91.50, after which I will consider long positions again. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Dear Colleagues, I assume that the price is in a wave 5 movement. The nearest target is the resistance area at 92.48. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Dear Colleagues. After last week I had to completely revise the Elliott Wave markup. Most likely, the upward movement is not yet complete. I expect a corrective wave 4 to the support area of 88.00, followed by an impulsive wave 5, which will reach at least the nearest upper level of 92.00. Manage your capital correctly and competently! Only enter trades based on...