H1 - Bearish trend pattern. Currently it looks like a correction is happening. Until the two strong resistance zones hold my short term view remains bearish here.
Th oil market that might present a potential opportunity for those who are interested in shorting oil. Please note that this opportunity should be approached with caution, as market dynamics can be unpredictable. Over the past few weeks, we have witnessed a significant drop in oil prices, primarily driven by Russia's decision to ramp up its oil exports. As a...
We saw the pullback into the support area we were waiting for, around the 200-dar EMA on the 4hour chart and weekly pivot point. A bullish engulfing candle also formed at the end of the session, and whilst prices have gapped lower at the open, we're now looking to enter long and target the resistance zone around $90.
The oil price has shown weak trading since the morning, stable around 90.70, and therefore, there is no change in the expected bullish trend scenario for today, which depends on stability above the 88.70 level, while its next targets are at 92.00 then 95.35. Pivot Price:88.70 Resistance Price: 90.70 & 92.00 & 93.37 support price: 87.71 & 86.40 & 84.58 The...
Signals and observations FX:USOILSPOT The Western Texas Intermediate (WTI) FX:USOILSPOT price experiences a consecutive decline on the second day, trading lower around $85.10 per barrel during the Asian session on Tuesday. The easing of crude oil prices is likely associated with reports indicating that the US and Venezuela could potentially reach a deal...
Peace be upon you, according to my analysis of the oil market. There is a very good selling opportunity. The market has reached an important point, which is the 61% Fibonacci retracement of the golden ratio. It also reached a very strong resistance level at 89. We also notice the formation of a red candle with a tail on the 2-hour frame, indicating a strong...
Oil price trades rebounded strongly after finding strong support formed by the 50 moving average in front of the recent negative trading, to exceed the 88.79 level and attempt to return to the main ascending channel again, which leads the price to achieve expected gains during the coming sessions, on its way to visit the 90.39 and then 91.56 levels. As major...
But black gold What is 100% clear and certain for me is that there is no seller in the upper price levels and the price level of $130 is empty of heavy sellers and oil has a target of $138. But until the price reaches 138 dollars, many ups and downs are possible, because the weekly price structure is currently downward and the price has made a PA in the range of...
As I'm sure you are aware, recent developments have led to a rise in oil prices by a staggering $2. The main contributing factors to this increase are the potential imposition of sanctions by the USA and a significant tightening in global supply. This optimistic trend presents a golden opportunity for those looking to make a successful long play in the oil...
Hello traders , on daily TF USOIL has formed a double bottom reversal pattern and broke its neckline. and also because the tension in the middle east and the current dollar economic situation we might see a bullish move from the neckline maybe back to the 93 level. trade safe !
Recent events have led to a significant drop in oil prices, primarily due to the phenomenon known as "demand destruction." I believe this presents an opportune moment for traders like yourself to consider shorting oil and potentially reap substantial gains. Considering the conservative nature of your trading approach, shorting oil could be a prudent strategy to...
If we encounter a gap that needs to be filled, we opted for a 1:4 trade, indicating the necessity to address this gap. This decision was prompted by our deviation from the established sideways trend and supported by several technical confirmations that guided us to follow and stay informed.
I wanted to provide you with the latest update regarding the oil market and its recent volatility that demands immediate attention. After careful analysis, our experts have projected a significant revision in the oil price target, with the new estimated threshold being $87.16 per barrel. Given the sudden change in the market, I strongly urge you to exercise...
This is my preferred count for OIL as the most recent downmove was so violent that it seems to be the beginning of a new trend. Looking for continuation lower into a three wave move to compose higher degree wave Y. As always questions and comments are more than welcome, if you enjoy the content please leave a like and as always, Trade Safe!
Following a recent attack by Hamas in Israel, oil prices have surged by 5%, and it is crucial for us to closely monitor this situation. The attack in Israel has heightened geopolitical tensions in the region, which historically have directly influenced oil prices. As traders, it is essential for us to exercise caution and remain vigilant during times of...
-- The Relative Strength Index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. -- The Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of...
Last week, oil prices suffered a significant decline, marking the worst week since March. This alarming development demands immediate attention, and I strongly urge you to consider taking advantage of this unprecedented opportunity to short oil. The oil industry, which has been grappling with numerous challenges throughout this year, is now facing a new wave of...
WTI oil is green today and going to test 84.10$ level. We should wait price movements after testing this level.