Looking at the four-hour trend, crude oil is still running in a downstairs structure, with the upper resistance at the 72.8-73.4 area. Only a further breakthrough can change the overall trend. However, because crude oil has a large V-shaped reversal at low levels, bulls still take the initiative in the short-term trend; the short-term watershed between long and...
Rising Flag formed on Sasol, the price broke below. And it was all downside from there. We saw the price tank way past our target of R184.52 and then some. Now I'm getting a lot of requests to what we should do. Well personally I'm just waiting. We need to be patient to wait for another consolidation and breakout. Just as every other market. Trading...
My dear friends, Please, find my technical outlook for USOIL below: The price is coiling around a solid key level - 71.22 Bias - Bearish Technical Indicators: Pivot Points High anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 69.33 Safe Stop Loss - 72.37 About Used Indicators: The...
Crude Oil formed a double top pattern on a solid horizontal resistance. Its neckline was violated with a strong bearish imbalance. We can anticipate a bearish movement to 70.6 ❤️Please, support my work with like, thank you!❤️
Hello Traders, Base on technical and wave analysis we see this scenario for #BitCoin for next move. let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
WTI oil (USOUSD) is rising towards an overlap resistance and could potentially reverse off this level to drop lower towards our take profit target. Entry: 72.687 Why we like it: There is an overlap resistance level Stop Loss: 74.111 Why we like it: There is an overlap resistance that lies above the 50.0% Fibonacci retracement level Take Profit: 67.958 Why we...
Crude oil Gapped upon market opening due to Russia making a statement on Sunday stating they will potentially do a 50,000 Barrell cut a day for the month of December; amid Moscow suspended about 2/3 of its main export grade of crude from parts due to a storm and scheduled maintenance on Fridays. Oil gapped to 72.47 touching our first TP on the pivot...
In the 4-hour chart, a consecutive positive rebound broke the weak decline and returned to the mid-track shock. Judging from the closing situation of the K line, the short-term rebound is still strong. The hourly chart rebounded based on the downward test of 67.70, and stabilized the upward trend from 69.50. The 4-hour chart reversed the weakness. In the short...
WTI oil (USOIL) is trading close to an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 72.264 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 75.089 which is a level that aligns with the 61.8% Fibonacci retracement level and sits above an overlap...
Reviewing the global supply and demand dynamics for USOil clearly indicates a tightening of the oil market. There is also an increased global economic activity, growing energy demands, and potential disruptions in oil-producing regions contribute to a positive outlook for oil prices. If you are considering long positions in USOil, then you should remain vigilant...
Based 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...
Hello Traders! This is my view related to WTI / OIL H4. As you can see, OIL is in a very interesting phase, It took liquidity, set a new daily high, react from the OB (D1), and I expect a bullish movement until the level of 78.000. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see...
#USOIL Trade Idea .....................................................................
This is an analysis of Frontline PLC - a Norwegian oil transportation company, the following is strictly my own personal opinion and does not constitute financial advice. Key numbers: Dividend yield expected 2024 - 17% P/B - 2.03 P/E - 5.41 Market cap 47 178 MNOK (4.5 BUSD) Analyst estimates: Analyst estimate average for FRO is 267.5 NOK which is equivalent to a...
I start with West Texas Intermediate (WTI) Oil, which seems to be heading towards $74 per barrel. This movement is influenced by the Federal Reserve's accommodating policy, improving demand prospects. It's interesting to note how the oil outlook might confirm the latest OPEC report, anticipating an increase in economic activity in the first half of 2024....
Hello,Friends! USOIL pair is in the downtrend because previous week’s candle is red, while the price is evidently rising on the 6H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 67.65 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is...
With the EIA data today, the market is bound to experience significant fluctuations. From the current point of view, I think the probability of an upward trend is relatively high, so my trading strategy is to go long. During this process, since the fluctuations will be very large, you must do a good job in risk management and never let your transactions bear...