As you are aware, the upcoming OPEC+ member countries to implement potential oil-supply cuts has sparked considerable interest and speculation within the trading community. Today, I would like to draw your attention to the importance of evaluating the compliance levels of these member countries and how it presents a potential opportunity for cautious oil trading. ...
After the latest OPEC+ meeting, the price of WTI crude oil dropped more than 2% to $75 per barrel, ending a two-day win streak. During the meeting, OPEC+ agreed to cut oil production early next year by almost 2 million barrels per day (bpd). This decision was spurred by worries about having too much oil in the market coinciding with the end of Saudi Arabia's...
the only real money is energy. Venezuela is opening a new front in Latin America, 44 years of stealing oil-rich countries is over. ...
Hello, according to my analysis of the oil market. We notice that the market formed a triangle pattern and penetrated the pattern. But it was a bullish breakout. But it rebounded from a very important area, which is the 78 resistance level. A large red candle also formed, indicating strength in the sellers. Good luck to everyone.
oil starting to push up after breakout the channel, do you have order in oil right now?
Crude oil continued its downward trend at the opening on Monday, and its rebound at $75.7 once again encountered resistance and declined, indicating a bearish trend. Looking at the daily trend chart, the daily level has been negative for three consecutive times. Although there is no new low quotation, the high price has not been broken, indicating that an...
Western Texas Intermediate (WTI), the U.S. benchmark crude oil, is currently trading near $75.05 as of Tuesday. WTI prices show modest gains, supported by expectations that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will extend oil production cuts in the upcoming Thursday meeting. Amid the recent oil price slump, analysts predict...
As the global demand for oil continues to decline, coupled with the upcoming OPEC meeting, it is crucial to approach this situation with caution and strategic planning. Over the past few months, we have witnessed a steady decline in oil prices, primarily driven by various factors such as geopolitical tensions and a shift towards renewable energy sources. This...
I wanted to draw your attention to recent developments within the Organization of the Petroleum Exporting Countries (OPEC) that could potentially impact the oil market significantly. It appears that OPEC is inching closer to reaching an agreement on production cuts, as several African countries have now joined forces. Over the past few weeks, discussions within...
triangle pattern for oil, i think this will be good position and good ratio (Risk-reward)
Dear Esteemed TradingView Members, I n the ever-evolving world of finance and trading, staying ahead of the curve is essential for success. If you're part of the exclusive audience of elite business professionals and investors, you understand the importance of precise market analysis and informed decision-making. In this article, we delve into the intricacies...
International oil prices rose more than 2% on Monday amid widespread expectations that OPEC+ will announce further production cuts after a meeting of member states early next week. Traders are eyeing potential speculative buying in crude oil trading as global risk sentiment appears to be strengthening and optimism returns among financial institutions. Crude oil...
Hello everyone,Oil price is trying to confirm the breach of the descending channel resistance, to support the continuation of the expected bullish trend for today, whose targets start at 77.86, noting that breaching this level will extend the bullish wave to reach 79.32 as a next positive station. On the other hand, it is necessary to note that breaking 76.35...
Crude oil prices fell for the fourth consecutive week last week. A substantial increase in inventories and record production were the main reasons for the decline in crude oil prices last week. The entire market has been weak recently due to supply concerns and a significant drop in demand. However, on Friday due to some short sellers Oil prices rose as...
After failing to break through 80 this week, crude oil fell again to around 75.56 after the US EIA inventory data emerged yesterday. There is currently no good news for crude oil in the market. The overall trend of crude oil is very weak, showing a slow falling trend. After breaking above the moving average, oil prices did not stand firm but fell back and fell...
The light crude oil futures market, with a current daily price of $73.18, is positioned below the 50-day moving average of $84.78, indicating a bearish trend in the short term. It’s also below the 200-day moving average of $78.11, reinforcing this bearish sentiment. The price hovers above the minor support level of $72.48 and is significantly above the main...
Hello everyone, Oil price is testing the key resistance of 73.70, which is positively influenced by the stochastic index, the price needs to be below this level for the bearish trend scenario to remain valid, which has the next target at 72.12. On the other hand, it should be noted that the confirmation of the breach of 73.70 will push the price to move higher...
Oil prices have risen in recent days on the back of a bullish outlook from OPEC+'s monthly report and the International Energy Agency (IEA) released a monthly report on Tuesday that raised its crude oil demand growth forecast for this year and next. Oil prices have been range-bound due to signs that tensions in the Middle East may be easing and uncertainty...