Crude Oil - Elliott Wave Count Crude appears to be completing wave 4 near 78.5$, with an impulse wave 5 up move expected. Remember that if the price drops below 78, it is considered invalid. This information is for educational purposes only, so trade with caution. MCX:CRUDEOIL1! NYMEX:CL1! TVC:USOIL MCX:CRUDEOILM1! CAPITALCOM:OIL_CRUDE FX:USOILSPOT...
On October 4, 2023, the OPEC+ ministerial panel did not make any changes to the group's oil production policy after Russia and Saudi Arabia announced continued voluntary supply cuts to support the price of black gold. However, Brent and WTI crude futures have fallen more than 13% over the past week on concerns that central banks could raise interest rates again...
The Canadian dollar has steadied on Thursday. In the North American session, USD/CAD is trading at 1.3728, down 0.12%. The Canadian currency has stabilized after a nasty four-day slide, in which it declined 1.9%. The US dollar continues to look strong against the majors, as "US exceptionalism" continues to make the greenback attractive to investors. The Canadian...
My previous post prediction was completely correct I thought the oil would fall to 86, and today my forecast has arrived. The same is true now.After reaching the support level, we can no longer sell, we can buy in small batches below 85.5. If my thoughts are helpful to you, please like and subscribe
After showing a weakening, profit was taken at $92 and I'm ready to jump in if the setup shows something bullish. The red rectangle shows where the orders are and that the price failed to close above and therefore we got a new weekly level. These are the two probabilities I'm looking at, which give the same result for LONG. The Techniques Below I am looking...
TRADE DIRECTION: SHORT; as indicated by the downward trendline (red line) and the market structure. KEY LEVEL: Round numbers S&R with 50 ticks range between each level. TRIGGER SIGNAL: Broke bearish pennant with the confluence from 2 trend continuation candles (red arrows). RR: 1:1.7 SL: 88 Ticks TP: 150 Ticks
WTI oil is going to test 85 level. Probably it will back to downtrend after testing this level. But we should wait after testing for 1-2 days then we can determine the price movements.
Previously at FxProfessor: ✔️Perfect Long: ✔️Perfect Short: News: Oil continues to tumble after previous session's slide Here's the scoop: 📉 Prices took a tumble, with Brent crude down $1.19 to $84.62 a barrel and WTI crude dropping $1.31 to $82.91. Ouch! 📉 Yesterday, we saw a massive $5 drop, the biggest in over a year. The reason? A gloomier economic...
My dear friends, My technical analysis for USOIL is below: The market is trading on 82.71 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 87.31 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of...
USOIL New forecast The oil price presents new strong negative trades to break the 84.81 level and settle below it, halting the proposed positive scenario and heading towards achieving a further expected decline in the immediate term, paving the way for heading towards 82.00 and 80.56 as the next negative targets. Therefore, we expect the bearish tendency to...
Here’s my opinion regarding oil market. I am still looking for the buy with clear invalidation level, below 77.55. Target all the way up to above 90 level again. The entry optionals are : 1. I imbalance area 2. II imbalance area 3. Ob zone. Risk management is everything. May the pips ne with u.
Crude oil will continue to retreat when it falls. Crude oil fell sharply yesterday and closed down. The momentum of the oil price's opening decline has slowed down and has stopped falling. However, it is only a technical recovery, and the indicator signals are still biased downward. Amid the general downturn in global financial markets, oil markets remain under...
Oil The price suffered more damage yesterday stabilizing above 87.08 will support rising to touch 87.67 , 88.54 then 90.39 stabilizing under 87.08will support falling to touch 83.26 and then 81.94 Pivot Price: 87.08 Resistance prices: 87.67 & 88.54 & 90.39 Support prices: 83.26 & 81.94 & 80.55 timeframe: 4H
WTI (USOUSD) is rising towards an overlap resistance and could potentially reverse from here to drop lower towards our take profit target. Entry: 86.216 Why we like it: There is an overlap resistance level Stop Loss: 88.140 Why we like it: There is an overlap resistance that aligns close to the 38.2% Fibonacci retracement level Take Profit: 83.803 Why we like...
The daily arrangement of 89.2 line empty, currently down 10 points, the stable can reduce the position out, the rebound of the European short position near 89.3 can continue to be empty, want to do more suggestions can pay attention to the 88.0 line support can hold, hold it is expected that crude oil is a wave of short-term rebound demand, so want to do more...
This looks like it is poised to head back into a well established $70-$80 range (and then some!). Anticipated long-term USD strength, as well as extended Global economic weakness bodes well for an enduring price weakness outlook. Technically, Crude is at a major pivot, both, at the top of a rising daily channel, as well as at the top of a descending weekly channel...
Quick take/analysis, but consider scooping some low-risk crude contracts here (break above 84.84). Better demand zones are lower, but we've had a sizable downdraft into buy areas + are testing a key support/resistance area (~84-85), so those traders may be at our backs. The US dollar has finally taken a pause at the supply zone we ID’d in posts from earlier this...
Crude Oil - Elliott Wave Count Crude appears to be completing wave 4, with an impulse wave 5 up move expected. Remember that if the price drops below 82.5, it is considered invalid. This information is for educational purposes only, so trade with caution. MCX:CRUDEOIL1! NYMEX:CL1! CAPITALCOM:OIL_CRUDE FX:USOILSPOT TVC:USOIL