Good evening, here's another view of oil im currently monitoring the 4hr chart. After the retrace from the bearish cypher pattern. Oil retested B leg and bounced back up to the supply zone. There's a apex that has formed, that is set to be completed by Late Thursday Futures session-Early Friday Futures Session. Oil is showing oversold w/ below the cloud action....
USOIL trade in sideway range the key lvl for wykoff pattren to success break 74$
There is some exciting news about the oil market that I believe will pique your interest. As you may already know, China's refinery output grew by a whopping 15% in May, which has contributed to a surge in demand for oil. Additionally, OPEC+ decided to cut supply in May, and Saudi Arabia has announced that it will cut supply for July due to a supply deficit in...
It's worth noting that oil prices early on Wednesday extended the substantial gains from Tuesday, which were driven by brighter inflation figures from the United States and evidence that China taking steps to boost its economic growth. I hope this information is helpful. Please let me know if you have any questions in your comments.
Oil prices are trading quite erratically on the daily chart, making it a much less appealing market to trade on that timeframe. But that doesn't mean we cannot find potential inflection points at the intraday level. Monday's opening gap has been filled, and earlier losses on Tuesday were fully recouped to print a bullish pinbar on the daily chart which found...
According to the International Energy Agency (IEA), OPEC+ may push up oil prices, but China remains the most essential factor in the market. As we all know, China is the world's largest oil importer, and any changes in their demand can significantly impact global prices. With their economy recovering and demand increasing, now is the perfect time to invest in...
Crude oil is currently basically falling below the previous high volatility range on the daily line, and the daily trend continues to be weaker, and there is a certain uncertainty in the EIA data market in the evening. At present, the space for continuing to decline after a continuous low sideways trend is not particularly large, and the current price has...
I don't do a lot of short-term work, but a small scalp in oil with good risk
Hey, the oil market has reached an important area as you can see in the analysis. There is a high probability of an uptrend with a retest of the descending channel. good luck for everbody .Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
- Very tight right side - MA confluence - High RS - High ADR - Oil and Gas
The price of Brent Crude Oil has fallen and tested the previous support level (Blue Line) outlined in the previous newsletter. Currently, we could see a potential swing back upwards. If the price breaks the support level, we could see a fall in price. However, I see the former as the more likely scenario, as the 0.5 Fibonacci level (Green Line) is also below the...
Oil experienced a sharp decline again today, and the EIA data was also unfavorable to oil. Currently, the oil price is close to the support level of 65-63. If this area is breached, the oil price will face the risk of falling to around $50. As far as the current market situation is concerned, I think this probability is not high. Although we cannot completely...
OIL to $500 by end of decade end of fossil fuels for the average joe
The decline in U.S. crude oil inventories and the suspension of exports from the Kurdistan region of Iraq have supported the upward trend in oil prices, overshadowing the smaller-than-expected pressure on Russia's supply cuts.At the same time, five OPEC+ representatives said that the alliance may stick to the existing oil production reduction agreement at Monday's...
Analysis USOIL : Given the break of the fake bottom and the weakness in the downtrend, I expect the price to grow to the set level. . . price: 69.30 sl: 66.30 tp: 72.00 tp2: 74.00 . . 👤 Alireza hajighasem : @alirezahajighasem . . 📅 3/22/2023
From now i will have one main idea, and all the ideas as we reach cycle targets for the year will be updated in the thread. I dont trade short term, keep in mind my ideas are longer term, and its boring. We wait for the cycles to bottom and we wait once in the trade for the trade to mature. Fallow, like so you dont miss the updates.
Welcome . The oil market is in a negative state. After breaking the bullish flag. We are just waiting for a retest of the downtrend. To further go down to level 76 Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
Hello, the oil market has a high probability of going up. The price reached a very strong support. It is level 66. With very positive candles. subject to buyers' power . Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you