The price of USOIL is edging toward $70 per barrel, which is our price target for 2024. However, it is becoming increasingly possible that we will see this price taken out even by the end of the current year. With that said, we want to raise another price target for the next year, valued at $65 per barrel. Illustration 1.01 The monthly graph above shows the...
Dear Colleagues, I believe that wave 5 is not fully formed yet, so the price will move down a bit more. Presumably to the support area of 70.81. After that I expect a strong corrective movement. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hello,Traders! CRUDE OIL keeps falling down But will soon hit a horizontal Support level of 72.14$ 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 Looking very weak! Natural GAs is almost ready to accumulate on the long side. XLE putting in bearish consolidation!
✅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!✅
WTI Oil (USOIL) got rejected yesterday just before it hit the 4H MA200 (orange trend-line), near the top (Lower Highs trend-line) of the 2-month Channel Down. It may have broken though below the 4H MA50 (blue trend-line) as well but found support on the short-term Channel Up (dotted lines), which is essentially the bearish leg towards the Lower Highs of the...
WTI Oil is trading inside a Channel Down since the September 27th High. The price is now forming the Right Shoulder of a minor Inverse Head and Shoulders pattern that bottomed on the Lower Lows trend line of the Channel Down. This is formation technically aims at pricing the new Lower High at the top of the Channel Down. Trading Plan: 1. Buy the moment a (4h)...
Hi Traders ! Today, The USOIL Price Broke a Strong Support Level (75.55 - 73.89). This Support Level Becomes a New Resistance Level. So, I Expect a Bearish Move📉. let's Wait For Retest ! ----------- TARGET: 70.50🎯
I am waiting to buy oil in the value area ( 73 - 75 )
The price of WTI crude oil continues to rise ahead of the OPEC+ meeting scheduled for Sunday, during which cartel members will discuss policy regarding production. The group will likely decide to lower the output in response to more than a 20% decline in the oil price since September 2023 highs (now, closer to an 18% decline). While a drop in supply is normally...
Hi, today i will bring you an idea of a USOIL Long Setup, in this case i'm using basic concepts, considering the war of Israel vs Palestine too, i'm searching for longs since we will have an IRL>ERL Cycle as we had in LTF, which is where we took the Weekly FVG on OTE and then went for OTE again and reacted to the OB, now i expect us to take the pending Daily FVG...
Oil is up high in Friday's range. the closing price and high on Friday could be key.
Crude Oil just printing another LOWER-LOW. 78 support line became now a resitance zone , so we can see 73-74 zone , very soon. Also OPEC anounced that they estimate an increase in barels per day in 2024-2025 , that is a bearish info beacause they already cut the production every month and the price is still in down trend, so with an slower economy also the demand...
WTI Crude Oil materialized our 78.50 short term target (chart at the bottom) and crossed under the 1D MA200. This is a breach of potentially serious consequences as it also breached the 1W MA50, so we need to monitor the closing on a weekly scale. If it closes under it, the bearish trend is very likely to be extended. The formarion of a MACD Bearish Cross on the...
Crude Oil arrived at destination. Now lets see if the buyers are enough stronger to keep the price over this level. If they lose this suport , the next stop will be 73.7
Oil prices rebounded after experiencing losses last week, primarily due to expectations of a tight supply situation for the rest of the year. This rebound was driven by key factors, including the commitment of major oil producers Saudi Arabia and Russia to maintaining production cuts until the end of the year. The decrease in the U.S. oil rig count also played a...
Hey Traders, Professor here! 🤟 You might recall my bullish call on oil at $70, based on fundamentals and geopolitical moves. Fast forward, and here we are at $93 a barrel. But is this the ceiling, or is there more room to grow? Let's dissect. 🛢️🔍 The Resistance at $93: More Than Just a Number 🛑 Oil has rocketed to $93, and I'm seeing this as a strong resistance...