The hourly trend of crude oil began to rise around the opening. In the short term, we will pay attention to the pressure zone around 82.5, where there may be a slight adjustment. I was bullish on crude oil last week. It rebounded slightly after the market opened. Don’t chase higher. You can go short near the pressure level. After adjustment, you can go long.
🛢 CL OIL, H4 🛢 18 March 2024 Oil prices saw a slight retreat primarily attributed to technical correction. However, the long-term outlook for the oil market remains positive as the International Energy Agency (IEA) and OPEC revised their 2024 oil demand forecasts upwards for the fourth time. Economic growth surpassing expectations is anticipated to bolster oil...
We've held onto the Sasol short and extended the take profit. Purely based on the bigger picture on a weekly chart. There's an even larger Inv Cup and Handle. Price has broken below the Brim level and entered into a Down regression channel. By the looks of it, the price will tank down to R83,96. The nature of the trade is HIGH probability as the Price<20...
Crude oil as a whole this week is going through a complex shock rebound. I have previously emphasized that from the perspective of the time cycle, the overall future focus will be on whether the low on the 26th breaks below. If it does not break below, the overall trend will be a shock upward, but we still have to wait for time to break through. This week, it...
Crude oil was prompted to go long near 81-81.1 yesterday, and it was also profitable yesterday. So how to trade today? If there is a correction in U.S. oil today and tomorrow, and the retracement below is in the 81.5 and 81-80.7 areas, it can be regarded as an opportunity to enter the market with short-term long orders.
Crude oil market analysis Everyone look at our analysis yesterday, crude oil is the planned 78.50 near the empty, yesterday twice in 78.50 below have been suppressed down, crude oil 78.50 is a suppressed platform, today's first touch or can be empty, crude oil to see shocks, long and short can be on, such shocks need to follow its rhythm, crude oil bears more...
The financial market is fair to everyone. Since some people lose money, some people must make money. But if you want to make a profit in investment, there is no shortcut. You can only do your homework seriously every day and accumulate diligently like an ascetic. In addition to providing some investment experience and learning methods, I also hope to find...
According to the IEA's forecast, oil demand growth will decrease by 1 million barrels per day this year, to an estimated 1.3 million barrels per day. The IEA pointed out that factors such as the global economic slowdown, improved vehicle fuel efficiency and the increase in the number of electric vehicles will bring additional headwinds to oil use. In addition,...
The daily K-line of crude oil continues to run above the short-term moving average and continues to maintain a high and strong trend. There is currently no particularly obvious trend in the 4-hour trend. After yesterday's adjustment, it is expected that there will be a rebound trend in the short term. In the small-level cycle trend, after continuous narrow...
Hello everyone. At present, crude oil continues to fluctuate at a high level on the daily trend, and the short-term moving average is basically in a flat state, tending to continue to maintain a relatively volatile trend in the short term. Currently, the 4-hour trend continues to fluctuate at a low level, and the K line continues to be under pressure. The...
Today's focus: Oil Pattern – Resistance re-hold Support – $77.21, $76.30 Resistance – $78.85 Hi, traders; thanks for tuning in for today's update. Today, we are looking at Oil on the daily chart. Today, we have broken down how we see price and key levels. Once again, we have seen resistance re-hold and a new move lower after tests failed. Will we see a new...
If oil prices push higher above 81$, they will prop the dollar in the medium term. Higher oil prices will influence inflation globally. Central Banks particularly the Fed might not cut rates until the later part of 2024. Fed Chair has already echoed these words citing that fed cuts are years away. Once oil adds onto that equation, we might see a possible rate...
Oil’s Tug-of-War: Iran Tensions vs. Evergrande On Wednesday, WTI crude futures dropped below $77 per barrel, undoing a 1.4% increase from the prior session, all while the U.S. readies itself to address a lethal attack on its troops in the Middle East. Perhaps traders are concerned more about the liquidation of China Evergrande, raising worries about the...
It looks like the 45-minute breakdown has occurred, which could lead to a bearish trend in both the weekly chart and the February monthly candle. Our swing trade has two targets: - The first target is $60. - The second target is $40. Please note that this is a long-term trade and we're making this decision quite early. Remember DXY is still very strong...
Will UKOIL Been supported @ USD70 per barrel Zone ?
Hello everyone. Crude oil is currently affected by the Red Sea news, which has led to explosive rises today. But the price has now reached resistance. Therefore, crude oil can be sold in the 74.5-74.8 area. TP73.8-73.
Dear Esteemed Members, There are several fundamental factors that could support the oil price reaching $76.09 per barrel, which is the highest level since November 2014. As the global economy rebounds from the pandemic, the demand for oil is expected to increase, especially in the second half of 2024. The International Energy Agency (IEA) projects that global...
Hi, According to my analysis of the oil market, it seems to be in a very negative state. We notice that the market is in a downtrend with a descending channel forming as shown in the analysis. The price also rebounded from the demand block area at the 76 level, indicating further decline in the coming days. Good luck to everyone.