Expectations of tighter crude oil supply and an uncertain economic outlook have caused demand concerns. At the same time, crude oil continues to be hit by the double blow of the appreciation of the US dollar and expectations of interest rate hikes, and the impact of a rapid tightening of supply is offset by market investors' low risk appetite for higher interest...
WTI crude futures surged by 3.5% on Wednesday, briefly reaching above $94, marking their highest settlement price of 2023. This impressive rally followed the release of EIA data indicating a larger-than-expected decrease in US crude inventories, showing a 2.17 million barrel drop in the past week. In parallel, Brent crude futures saw a substantial increase of...
The supply side of the global oil market continues to reduce production, and oil prices will continue to rise in the short term. Russia's fuel export ban announced last week has raised supply concerns and demand woes from future interest rate hikes. In the current context of the crude oil market, what needs attention is that once the Federal Reserve misjudges...
As you might have noticed, oil prices have been on the rise lately, and there are two compelling reasons behind this bullish trend. Firstly, the potential recovery of the Chinese economy has sparked a wave of optimism worldwide. China, the world's largest oil importer, is showing signs of bouncing back, which could significantly boost demand and drive prices even...
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,...
Introduction: We've got some exciting news to share today - oil prices are soaring to new heights as supply cuts persist! The black gold is inching closer to the $86 mark daily, and we couldn't be happier. So, prepare to seize this golden opportunity and long oil like never before! The Rising Tide of Oil Prices: In recent months, we've witnessed a remarkable...
Introduction: Recently, the global oil market has been experiencing significant fluctuations due to a combination of factors. The economic slowdown in China and the increased oil production in Iran and Venezuela have led to a drop in oil prices. As traders, it is crucial to approach this situation cautiously and explore opportunities to take advantage of this...
Risk 0.5% TP1 = 1:2 RR Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A...
Hi Traders! We have a potential double-top opportunity on the USOIL 1D chart. Our previous bullish view worked perfectly, and our prediction of reaching the 83.49 resistance after the psychological 80.00 break came through. The market looks to now be exhausted near the 83.49 resistance level, and the price action is indicating a possible reversal of the bullish...
The daily line has regained most of the losses, and the market is still in a bullish trend and is currently in a strong state. Whether there will be large fluctuations in the adjustment here. Crude oil pressure 83.3, support 81.5. Crude oil operation is recommended to buy at 81.5 first-line, with a target of 82.2~82.7. If it breaks above, continue to look at...
2nd August daily key reversal bar indication for weakness ahead. 83.30-50 strong trendline resistance area. price may spike for stop loss hunting. but suspect down for target 79.50.
Risk 0.5% TP1 = 1:2 RR Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A...
Crude oil operation strategy: SELL: 81-81.2 TP1:80.5 TP2:80 BUY:78.8-79 TP1:79.5 TP2:80.5 I hope my trading signal is useful to you. It can be used as a reference for your trading. For more trading signals, please see the follow-up update
Hi Traders! USOIL is looking extremely strong and does not look like it is slowing down; the psychological 80.00 level looks like the next resistance target. Our bullish bias on this product has played out very nicely since the market finally broke above the previous range zone. We have since then stayed in the ascending price channel with higher highs and...
As a trader, it is crucial to approach these developments cautiously and consider their potential implications on oil prices. Firstly, it is worth noting that the oil market has experienced a cooling effect in response to the Federal Reserve's decision to raise interest rates. Historically, such rate hikes have led to a strengthening of the US dollar, which in...
😇7 Dimension Analysis Analysis Time Frame: Daily 1️⃣ Price Structure: Sideways to Bullish 🟢 Structure Initial Behavior: Choch Bearish 🟢 Move: Corrective 🟢 Inducement: Done 🟢 Pull Back Count: 1st 1st OB mitigated Extreme OB unmitigated Touch count 4, breakout from the range 2️⃣ Pattern 🟢TREND LINES: Act as Support 🟢CHART PATTERNS: Flag: Signaling...
According to the analysis of the chart, the market stopped falling and rebounded at the bottom line of 73.80 as scheduled yesterday, and it was already informed yesterday that there was a super main force bottom-hunting signal in the bottom area. In terms of operation, we will continue the high-altitude and low-many thinking, and focus on doing more on dips oil...
Recently, the Organization of the Petroleum Exporting Countries (OPEC) released a groundbreaking report that sheds light on the promising future of the global oil market. The report highlights the continued surge in oil demand from two of the world's fastest-growing economies, India and China, well into 2024. This revelation opens up opportunities for us to...