Crude oil prices continued to fall today, and are currently trading near US 65 per barrel.On the fundamental level, the supply and demand structure of the international crude oil market is still a small oversupply. Unless OPEC has a significant production reduction, it will be difficult to achieve much growth on the demand side. Although UBS reached an agreement...
There are still concerns about the banking crisis in Europe and the United States in the market. Some investors are even worried about the arrival of a new round of global economic crisis. Moreover, the market is still worried about the oversupply of crude oil, and the future of oil prices is still biased towards bears. It was mentioned in the article shared...
Due to positive data, the oil price continues to rise. Our long position took profit at 76.3. Currently, it seems that there is still momentum for oil to continue its upward trend, with the MACD indicator showing a second bullish crossover on the 2-hour chart. Resistance is near 78.5, so I believe we can continue to enter long positions with a trading strategy...
The crude oil is currently trading around 74.8, with some support visible on the 4-hour chart. In the short term, there is upward momentum observed on the 1-hour chart. As a trading strategy, one can go long near 74.8 and target 76.3, with the possibility of further upside if the resistance at 76.3 is breached. If unable to break through, a short position can be...
The core of trading is not how much profit can be made in a single transaction, but whether one can achieve sustained and stable profitability over the long term. In the previous article, the strategy given for crude oil was to go long at 78.5, with the target at 80.5, and it was a perfect take-profit. Currently, the support level on the hourly chart is at...
Friends who followed my previous article have already sold at the perfect profit point. As expected, the trend is up from 78.5 to 80.5. So, there are still opportunities in the oil market. Personally, I believe that the 1-hour chart will form support around $80 and then continue to rise. It's not far from the buy point now! I will update the specific trading...
In our previous update on West Texas Intermediate crude oil, we updated our price target from long-term to medium-term. Additionally, we stated that this price target could soon become short-term, depending on oil market developments. Today, finally, USOIL hit a new yearly low at 73.62$, further confirming our bearish thesis. Accordingly, we continue to maintain...
Trade Idea: Buying Oil Reasoning: Head and shoulders setup still possible on the daily chart. Entry Level: 86.46 Take Profit Level: 92.66 Stop Loss: 83.43 Risk/Reward: 2.05:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. ...
🟢 USOIL TF: 3D Side: Long Pattern: Bull Flag SL: $76.28 TP 1: $96.58 TP 2: $102.85 TP 3: $109.12 Oil has broken out of the Bull Flag. If the retest is successful it could be a great buy to hold for the coming weeks.
Over the past four months, we repeated that oil prices were peaking and the downside was looming over the oil market. Despite the excess of bullish calls forecasting new ATH for oil prices, we stuck to our bearish bias. Indeed, a few months ago, we set price targets of 100 USD, 95 USD, and 90 USD for USOIL. After hitting the first two price targets, we still...
Today's energy crisis is not a sign of strength of the oil companies, it is rather witness to the fact that the world economy has a very high productivity, still partly based on fossil fuels, but now moving towards properly renewable and alternative resources. I believe that the tops we will reach in the next few months will only accelerate the transformation into...
The price of Crude Oil exceeded my expectations, which weren't low either: With all this unprecedented demand for travel, i expect the price of WTI to be at the $125 level this summer. Looking forward to read your opinion about it.
These are levels that I'll be keeping an eye on when dealing with USOIL, and I'll revise as price action progresses. I adapt to the change in money flow. This is a representation of greed in play when it comes to oil. However, I do believe in the coming months things will get very interesting due to price action's placement in the market, things that have taken...
This graph is a representation of my point of you of the futures market (USD).
OIL_BRENT is trading in a narrwing wedge And will soon retest a horizontal resistance at 112.45 A bearish move down will follow However, IF the resistance is broken to the upside The setup is invalid
If you haven`t seen my last post: Then you should know that Crude Oil is in a bullish trendline with a price target of $125 by the end of this summer.
I have a bullish outlook for oil in the coming days and expect $ 111 to be $ 118 and then $ 127 to be the next oil targets.
More than a week ago, we warned about potential EU's ban on Russian oil and the risk it poses for the higher price of oil. We suggested that this step would lead to higher prices of oil in the short-term. Just two days ago, Germany was reported to back a gradual ban on Russian oil. Because of that we abandon our short-term and medium-term price targets. Although,...