USOIL / 1D Hello traders, welcome back to another market breakdown. Crude Oil traded lower earlier in the week after a small pullback bear trend. The bears got 3 pushes down, forming a wedge pattern. They want a retest of the June or May lows, followed by a breakout below. The bulls see the current move down simply as a bear leg within a trading range. They...
Here is our detailed technical review for USOIL. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 77.46. Considering the today's price action, probabilities will be high to see a movement to 73.86. P.S Overbought describes a period of time where there has...
Defying our expectations, the West Texas Intermediate crude oil rose above $75 and began to form a rectangle pattern between $76.16 and $79.25 (following a breakdown of negotiations between Israel and Hamas). Currently, the USOIL is trading near the lower bound of this range, which also coincides with the 20-day SMA that acts as an alternative support level. On...
🔸Hey guys, today let's review the 8 hour chart for UK oil . Any upside is limited by strong overhead resistances, currently weak bounce in progress, however most likely bears will take over from overhead. 🔸Strong resistances will cap upside at 84.00 usd / 86.00 usd. right now locked in tight trading range, however expecting final pump to trigger overhead stop...
🔸Hello guys, today let's review daily price chart for eurusd. Ongoing accumulation in progress since 2023, strong chart overall. Trading in well-defined range since Jan 2023, therefore it's best to focus on trading near range highs/lows. 🔸Range lows defined at 0640 , range highs set at 0960, premium prices overhead at 1020 and 1080 and premium prices below at...
🔸Hello traders, today let's review 4hour price chart for gold. Extended bear impulse in progress, fractal will target re-tests of 1960/1970 usd. 🔸Recent downtrend is defined by repeat sequence, currently weak bounce expecting re-tests near 2030/2035 usd max, and continuation of the correction. 🔸Recommended strategy bears: short sell from overhead resistances...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 75.867 which is a pullback support. Stop loss is at 75.300 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level. Take profit is at 77.329 which is a pullback resistance. High Risk...
Almost 3 weeks ago (February 07, see chart below), we gave a strong buy signal on WTI Oil (USOIL), right at the bottom (Higher Lows trend-line) of the 2-month Channel Up: The price is approaching the 81.50 target right at the top (Higher Highs trend-line) of the Channel Up. Since however we see a strong Resistance Zone that has been holding since the previous...
DRQ shows notable Bullish Divergences on both the Monthly and Quarterly Timeframes at a 0.886 Fibonacci Retrace and is currently trading within a Falling Wedge. If the Bullish Divergence and Falling Wedge play out, I would expect to see DRQ make its way up to around $60 as a first target and around $94 as a full profit target.
📉 Breaking News: BRN Crude Oil Faces Bearish Pressure Amidst Global Uncertainty Interest Rate Concerns: Federal Reserve Governor Christopher Waller’s recent comments hinting at delayed interest rate cuts have raised concerns about sluggish economic growth. As a result, oil demand is expected to be curbed, impacting BRN crude prices Pipeline Shortage in Canada:...
Note: Low and High figures are for the trading day. Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live...
Hey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 76.30 zone, USOIL was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 76.30 support and resistance zone. Trade safe, Joe.
Oil has been in a volatile range recently. The large range is 74-79.5 and the small range is 75.5-78.5. The lowest reached around 76.3 yesterday and the highest today reached around 78.4. Recently, due to geopolitical reasons, oil has been trending stronger, but it has not broken through the strong resistance point of 79.5 during the OPEC meeting. Therefore, I...
In D1, price is currently making a retracement after making swing high. In the lower time frame, price is currently making sideways especially in H1 time frame. Currently price is coming back at the support area in H1 make it as a third time of retest support before. If the price break H1 trend line upward. Price may move up and the support before. There is...
Hi there! I'm a buyer on the DOW JONES: -RMID (Range Manipulation Initiation Distribution) -We have liquidity uptake. -We're in an interesting zone. -We have the optimal Fibonacci. -We have accumulation before/on the zone. -We're in the trend. Let's not forget that we also have good profit results from companies, and we have Nvidia's report coming up, which...
Hey there! I'm selling on WTI: -RMID (Range Manipulation Initiation Distribution) -We have liquidity uptake. -We have an interesting zone. -We have the optimal Fibonacci. -We have accumulation before/on the zone. -We are with the trend. 🚀 If you liked it and want more, don't hesitate to subscribe and boost the post! Questions? Leave a comment!
Hey there! I'm selling on GBP/USD: -RMID (Range Manipulation Initiation Distribution) -We have liquidity uptake. -We have an interesting zone. -We have the optimal Fibonacci. -We have accumulation before/on the zone. -We are with the trend. The GBP is likely to start depreciating due to the UK entering a recession! And the USD, on the other hand, is the...
Hey there! I'm selling on EUR/USD: -RMID (Range Manipulation Initiation Distribution) -We have liquidity uptake. -We have an interesting zone. -We have the optimal Fibonacci. -We have accumulation before/on the zone. -We are with the trend. The CPI figures aren't so good for the € compared to the $, which is in great shape! 🚀 If you liked it and want more,...