The crude oil market has been a whirlwind of activity, with prices peaking at $129 in March 2022 and plummeting to $63 by May 2023. This volatility has led to a broad consolidation zone, stalling the formation of long-term trends. A pivotal support for these fluctuating prices has been the weekly 200 simple moving average. This indicator helped the price rebound...
In my last analysis about USOIL, key zone was 80$ and winning that level, we get full body candlestick weekly time frame. There is still time to test 81.58$(for late longs) where I going to put order to go in again(Long, if I see setup on lower TF.), because below this level I will wait because if we going to test 80$ ,that's not a good sign and then I'd rather...
The US diplomacy has awaken in the past few weeks and we see the following: Biden stays quiet. Good news Tony Blinken and others (Yellen included, watch the next post!) are making serious moves the past few days. Let's talk Oil and Golf: Antony Blinken, United States Secretary of State visits Saudi Arabia for 3 days.. not one, not two, that is THREE days!...
Crude continues performing as anticipated. It reached today our target zone while showing ST overbought condition, be prepared for a profit taking wave in the coming sessions.
WTI Crude Oil resumed the bullish trend after a short pullback in mid August and again turned overbought on the 1D timeframe (RSI = 71.691, MACD = 2.030, ADX = 28.614). On any other occasion that would be a signal to expect a new technical pullback, but given the fact that the 1D MACD just formed a new Bullish Cross, we can expect a continuation of this rise to...
It's time to buckle up and get ready for an exhilarating ride as we witness the recent developments that are set to fuel our profits. 📈 I am thrilled to share the fantastic news that Russia and Saudi Arabia have just announced their decision to extend the supply cut until the end of this year. This strategic move is expected to significantly boost oil prices,...
USOIL stabilizing above 86.08 ill support rising to touch 88.11 then 90.43 then 92.19 stabilizing under 85.00 will support falling to touch 82.96 the 81.14 Pivot Price: 86.08 Resistance prices: 88.11 & 90.43 & 92.19 Support prices: 82.96 & 81.14 & 78.21 timeframe: 4H
Day Trade Market Condition sep 05, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
USOIL OUTLOOK Oil prices rose on Monday, supported by expectations that major producers will maintain their restrictions on supplies, as well as growing hopes that the Federal Reserve (the US central bank) will leave interest rates unchanged to avoid a slowdown in the economy. Russia has already announced it will cut its exports by 300,000 bpd in September,...
I am anticipating that the price would continue in an uptrend after breaking this resistance, there is a retest happening now. If price shows a bullish signal, then we will go long, but if price breaks below the support, there may be some correction to the downside.
Whenever the price breaks the downward trend line , there is a strong possibility for wheat to rise to the 650$
the price 570$ is the last support area for the Wheat Wheat is moving in a channel and if it reverse from this area it can rise to the 650$ . Trigger is in the H4 time frame whenever price breaks the downward trend line.
I am looking for #crudeoil to pull back toward the 61.8% fib level on the 1-hour chart. If so, then see the continuation down back to 85.00. Each fib level will act as support and resistance. Happy Trading! Share your thoughts in the comments. The Motivational Professor "Leadership is the art of getting someone else to do something you want done because he...
USOIL (WTI) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 84.871 which is a pullback support. Stop loss is at 83.515 which is a pullback support that aligns under the 23.6% Fibonacci retracement level. Take profit is at 86.877 which is a level that aligns with the 127.2% Fibonacci extension...
Introduction: Attention all traders! Exciting times lie ahead as the oil market anticipates the next move from the OPEC+ supply alliance. With recent price advances and favorable market sentiment, now is the perfect opportunity to seize the moment and consider a long position in oil. In this article, we will delve into the current state of the oil market, explore...
A previous gold pattern could be in the making on the oil chart. If the similarity persists, oil prices may rise drastically
The Reserve Bank of Australia is expected to keep its rate on hold in its meeting today, so there might not be anything interesting here. Do we think this rate decision is going to make more of an impact on the Aussie than the Australian GDP (Gross Domestic Product) figures that are released tomorrow? There has been talk of the Australian dollar being undervalued,...
WTI has been steadily appreciating in price since May 2020 with the peak being reached on 08-Mar-2022 at $129.42/bbl. Price swept the critical highs of $114.8/bbl twice then retracted into its current range. My previous write up on the asset was bullish with continued upside potential up to $140$. Before it got there I was expecting a sweep below the range low at...