Hey Traders, in the coming week we are monitoring USOIL for a selling opportunity around 75.40 zone, USOIL was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 75.40 support and resistance area. Trade safe, Joe.
The price of USOIL will most likely increase soon enough, due to the demand beginning to exceed supply which we can see by looking at the chart of the pair. ❤️ Please, support our work with like & comment! ❤️
Severe storms in the Black Sea region interrupted Kazakhstan and Russia's oil exports of up to 2 million barrels per day.The Ministry of Energy of Kazakhstan said that the average daily oil production of Kazakhstan's largest oilfield will be reduced by 56%.This has led to the possibility of short-term supply constraints and pushed up crude oil prices.Secondly, a...
WTI Oil (USOIL) got rejected yesterday just before it hit the 4H MA200 (orange trend-line), near the top (Lower Highs trend-line) of the 2-month Channel Down. It may have broken though below the 4H MA50 (blue trend-line) as well but found support on the short-term Channel Up (dotted lines), which is essentially the bearish leg towards the Lower Highs of the...
WTI Crude Oil is consolidating within a range on a daily since the beginning of November. Depending on the reaction of the price to its boundaries, I see 2 potential scenarios. Bullish Scenario If the price breaks and closes above 80.85 - the upper boundary of the range, I will anticipate a growth to 82.50. Bearish Scenario In case of a breakout of 72.20...
US Oil looks like it could be trying to hold support with a Bullish Head and Shoulders around the 61.8% Fibonacci Retrace; If it is successful I think it could make its way towards $85.50
Our overview: Definitely OPEC+ policy doesn't convince the market. Massive selloff with more tha 500K contract traded, push the price to re-test the trend/neck line. Market could enter in latera trading range. Technical signals: RSI negative, and Stochastic negative. Trends analysis: Primary(purple): downward impulsive structure wave 5, intermediate(green):...
✅CRUDE OIL is going up now But a strong resistance level is ahead around 79.30$ Thus I am expecting a pullback And a move down towards the target of 76.00$ SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
Oil prices surged during the latest OPEC+ meeting discussions, showcasing a 1.2% rise in U.S. crude futures at $78.77 per barrel and a 1.1% climb in Brent crude to $83.78 per barrel. The market buzzed with expectations of deeper output cuts, despite existing pledges from OPEC+ members to cut global oil output by about 5 million barrels per day. The delay in the...
As you are aware, the upcoming OPEC+ member countries to implement potential oil-supply cuts has sparked considerable interest and speculation within the trading community. Today, I would like to draw your attention to the importance of evaluating the compliance levels of these member countries and how it presents a potential opportunity for cautious oil trading. ...
After the latest OPEC+ meeting, the price of WTI crude oil dropped more than 2% to $75 per barrel, ending a two-day win streak. During the meeting, OPEC+ agreed to cut oil production early next year by almost 2 million barrels per day (bpd). This decision was spurred by worries about having too much oil in the market coinciding with the end of Saudi Arabia's...
Our overview: Strong GDP in US, and hope on the OPEC+ meeting, offset the build in crude stockpile. A bigger then expected production cut would push for a Christmas rally. Today is mandatory stay neutral at least till is gonna be clear the OPEC+ policy. Technical signals: RSI and Stochastic positive. Trends analysis: We maintain an overall positive overview with...
Dear colleagues, I decided to update the idea. The price pushed off perfectly from the support at 74.23. At the moment I expect the upward movement to continue with the same target of the resistance area at 79.77. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
On the first marked candlestick you can see how the volume was high and the price closed (red) immediately followed by a return big candle with strong volume (the bulls defended). Then they try again and fail. Here's the reason why i hunted low wick today after the news. I expect this time we break the 200 DMA and test $83
While the immediate future of crude oil remains shrouded in uncertainty, the recent price correction could signal an imminent technical rebound. Moreover, the onset of winter in the northern hemisphere is poised to heighten demand for heating oil, potentially bolstering prices. This is not financial advice, merely my personal opinion. I am willing to accept the...
#USOIL... oil just reached at your first targeted area, keep close this level, because market further ride for selling will start below that leve, if market break and sustained below that level then downside our 2nd target will be next target, dont short now before breakage below that area, upside and downside areas are mentioned on chart. trade wisely good luck
#USOIL.. in today we have a most important event on table that is OPEN (The Organization of Petroleum Exporting Countries) and JMMC (Joint Ministerial Monitoring Committee), its totally a fundamental move expected but on technical behalf we have upside important resistance area that is mentioned on chart, if market hold it then a drop expected, overall for the...
At the beginning of the week, trading with 'LONG' order Usoil 75$ grew according to Plan, profit analysis 78$ (300Pip) In the current price range, you can refer to the short-term 'Short' at 78.8 - 79$ The Usoil zone returned to the buying support price zone around $76