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.
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...
OPEC has recently made a significant announcement that they will be adding a staggering 2.5 million oil barrels per day to the global supply. This news couldn't be more opportune for those seeking to capitalize on potential gains.
Now, more than ever, we have the chance to position ourselves and make a lasting impact on our trading portfolios. With OPEC's...
Oil related equities demonstrate impressive relative strength to the rest of the sectors, occupying 6 out of 10 best performing market groups.
HAL - is one of the best stocks in the energy sector, with impressive consecutive earnings and sales growth 4 qrts in a row and double digits growth in eps estimates.
Beside strong fundamentals, I always look for 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...
Chevron Corporation (CVX) has been trading within a long-term Triangle pattern, which has potentially funneled the price action lately to a Rectangle. The key development for the next few days is the emerging Golden Cross on the 1D time-frame, the first since October 28 2021. Technically, this has the ability to break both above the Rectangle (Resistance 1 at...
Hello There!
Welcome to my new analysis about CVX on several timeframe perspectives. The oil market since the corona pandemic supply-shock dynamics has formed a important dynamic and had the ability to form a major rebound recovery with several new highs being formed and CVX having the ability to bounce into a new all-time-high. Now a big part of the dynamic is...
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Welcome to my new analysis about XOM on several timeframe perspectives. The oil market has shown up with a massive pullback to the downside since the war developments have put heavy pressure on the whole oil market and drove the supply rally within the market. Since then the market managed to recover with a substantial rally moving into new...
As you might have noticed, oil prices have been on the rise lately, and there are two compelling reasons behind this bullish trend. Firstly, the potential recovery of the Chinese economy has sparked a wave of optimism worldwide. China, the world's largest oil importer, is showing signs of bouncing back, which could significantly boost demand and drive prices even...
Hi, According to my oil market analysis, there is a very good selling opportunity. The price has reached a very strong resistance. A tail candle was formed from the top. It indicates taking out the buyers in the area of 88. Before the drop. Good luck everyone
IOC has been in an Inverted H&S pattern formation since March 2018 which it completed in July 2023. Inverted H&S patterns often implicate a bullish run post pattern breakout and they become crucial specially when the pattern is in formation phase for dew years.
IOC replicates a similar view and the stock has given a breakout in May 2023.
The run still continues...
It's time to buckle up and get ready for an exhilarating ride as we witness the recent developments that are set to fuel our profits. 📈
I am thrilled to share the fantastic news that Russia and Saudi Arabia have just announced their decision to extend the supply cut until the end of this year. This strategic move is expected to significantly boost oil prices,...
Introduction:
We've got some exciting news to share today - oil prices are soaring to new heights as supply cuts persist! The black gold is inching closer to the $86 mark daily, and we couldn't be happier. So, prepare to seize this golden opportunity and long oil like never before!
The Rising Tide of Oil Prices:
In recent months, we've witnessed a remarkable...
ERX as shown on the daily chart shows a VWAP band breakout into the mean VWAP
from the lower VWAP lines coupled with a rising momentum on the PMO targeting
72 as the YTD pivot high. Given this is a leverage play in the supertrend shift in a
major sector I see this as a low risk moderate reward potential type of trade
I will take this trade long expecting...
Crude oil had a complicated trend this week, and there was a rebound after gaining support at 73.8. On the whole, the promotion of various factors caused the price adjustment. On the whole, I think that in the future, crude oil will continue to adjust in the big picture, but the possibility of very large repetitions cannot be ruled out in the future. So what we...
The main reason why crude oil is bullish is: the three-wave abc adjustment of the sub-level has ended, so the bulls may break through the previous high again. Crude oil pressure 77.90~78.40, support 76.15~75.85.
As a trader, it is crucial to approach these developments cautiously and consider their potential implications on oil prices.
Firstly, it is worth noting that the oil market has experienced a cooling effect in response to the Federal Reserve's decision to raise interest rates. Historically, such rate hikes have led to a strengthening of the US dollar, which in...
