The WTI oil price has surpassed $73 as investors exercise caution amid escalating tensions in the Middle East. Concerns about potential new attacks by Iran-backed Houthi rebels on commercial shipments in the Red Sea, including U.S. vessels, are contributing to a perception of tightness in the oil supply. However, softer economic data from China in the third...
At present, the resistance here at Oil 73 is very strong, and there has been no breakthrough many times. Usoil:sell72.8-73 TP:72.3-72-71.7 SL:73.2 For short-term trading, join me and I will continue to analyze
Please, check the important key levels on ⚠️WTI Crude Oil. Support 1: 69.3 - 70.4 area Support 2: 67.7 - 68.7 area Resistance 1: 75.2 - 76.2 area Resistance 2: 78.5 - 79.7 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
Analysis of West Texas oil in the short and medium term The market is in the upward correction wave ABC, which is currently in wave B and can move towards $78 and $80 as wave C. The most important support is 72 dollars
WTI Oil (USOIL) is under a heavy technical squeeze as it has been trading for days within the 1D MA50 (blue trend-line as Resistance) and the 1W MA200 (red trend-line as Support) and the width has now gotten extremely tight that a break-out is inevitable. The very same squeeze was last spotted on July 03 2023, when the price marginally broke above the 1D MA50 but...
Crude oil market analysis Crude oil up and down the string is very strong, the idea is still a big shock, today pay attention to the 71.00-74.30 shock range, we find meat in this range, the shock market can be on, the important waiting for a good position, crude oil weekly line shows that it is building a bottom, short-term difficult to end such shocks, crude oil...
On the 1H chart the Crude oil is forming a potential Inverse Head and Shoulders. What is more important about it is that it's happening after a retest of a bigger symmetrical triangle. I am leaving the link toward the 4H oil analysis so that you can see the bigger picture:
For the few years there has been a close correlation between the US Dollar Index, US Treasury Yields, US Oil, and The Volatility Index, as of right now all are forming similar accumulation patterns, with the DXY, and Oil both sitting at the PCZ of a potential Bullish 5-0 at the 50% Retrace after breaking above its trend and the US10 Year yield sitting at the 61.8...
The fundamentals for oil to be over $100 USD per barrel are in place; oil inventory reports are getting lower, and what happened today between Israel and Iran could potentially push oil to $120 USD. There is a bull flag with a breakout there!.
International crude oil futures rose 1% last Friday. Although they rose, they could not erase last week's decline. Last month, OPEC and its allies pledged to cut production by 2.2 million barrels per day in the first quarter of 2024. After oil prices surged sharply last Friday (January 12), they gave back all their gains, which means that short sellers may make...
Oil fell below the important support range of 71.7-72 Usoil:sell71.7-72 TP:71.3-71 SL:72.2 Follow the trend and trade, join me and I will continue my analysis
US CRUDE OIL New forecast The price of oil ended last Friday's trading with strong negativity to settle below the 72.90 level, which places the price under the expected negative pressure in the immediate term, pushing the price to achieve negative targets starting at 71.00, and by breaking it, it will extend far to the 69.15 areas. Therefore, a bearish bias...
Our overview: Jitter due to the Red Sea tension persist. CoT released Friday "net long positions" report, showing an increasing long positions in futures and decreasing in options by the "non commercial". This could suggest that the market could be close to an upward movement of the price. Waiting for market mover data and news. Trends analysis:...
Strong Red TrapZone and Red UMVD for Oil futures, We are going down even further.
I'm closely monitoring the oil market, adopting a cautious stance as I await a compelling catalyst to drive oil prices upward. A potential factor on my radar is the increasing involvement of the UK and the US in the tensions between Israel and Palestine. If this geopolitical situation intensifies and draws in Iran to support Palestine, it could contribute to a...
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Oil has risen amid fears of potential supply disruptions amid recent criticism of Yemen's Houthi rebels over a UN resolution on Red Sea navigation Usoil:buy73.6-74.05 TP:74.5-75 Now that it has broken through the recent range, follow the trend in the short term. Join me and I will continue to analyze how to trade
ased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...