After WTI Crude Oil hit our long term target it managed to close a 1D candle under the 4H MA50 and on prior displays inside the three month Channel Up, that was a sell signal. The 1D timeframe has been normalized from the previous overbought technical state (RSI = 67.378, MACD = 2.060, ADX = 37.892), the 1D MACD is past a Bearish Cross, which makes a complete sell...
The supply side of the global oil market continues to reduce production, and oil prices will continue to rise in the short term. Russia's fuel export ban announced last week has raised supply concerns and demand woes from future interest rate hikes. In the current context of the crude oil market, what needs attention is that once the Federal Reserve misjudges...
Introduction:
The oil market is heating up, and there's an exciting opportunity knocking at our doors. Brace yourselves as we delve into the recent surge in US oil prices, which have approached the $90 mark due to a scare in supply and cooling demand. In this article, we will explore the factors driving this upward trajectory and present a compelling...
The supply side of the global oil market continues to reduce production, and oil prices continue to rise in the short term. A ban on fuel exports announced in Russia last week raised supply concerns and demand woes from future interest rate hikes. In the current context of the crude oil market, we need to pay attention to the fact that once the Federal Reserve...
International crude oil prices continued to perform well last Thursday and Friday, with a good upward trend. The operating strategy was to short at a high level and wait for the decline. However, the price on Friday stayed in the middle position. On Monday, there was no obvious change in the market trend. , we can continue Friday’s strategy and short sell near...
Expectations of tighter crude oil supply and an uncertain economic outlook have caused demand concerns. At the same time, crude oil continues to be hit by the double blow of the appreciation of the US dollar and expectations of interest rate hikes, and the impact of a rapid tightening of supply is offset by market investors' low risk appetite for higher interest...
I'd like to draw your attention to an issue that has been brewing beneath the surface, silently impacting emerging market countries and their currencies. It is the high oil price, which many argue functions as a form of tax, cooling economic growth and putting additional strain on these nations.
The recent surge in oil prices has undoubtedly caught the attention...
After several news announcements yesterday, the price of crude oil is gradually rising. On today's last trading day, the price will continue to maintain an upward trend. It is expected that there will be no major adjustment. After rising to the pressure point, it will briefly fluctuate in the range and rise again.
For more trend analysis, please actively...
Hello There!
Welcome to my new analysis of OIL. Within the recent high inflation development with continued rate hikes in a lot of economic fields, it has to be mentioned that OIL could be on the brink of major market disruptions especially when the rate hikes continue to rise further together with the DXY printing the next new highs. In this case, I have...
Buckle up, because the market is buzzing with potential opportunities for those willing to take a leap of faith. Sit tight, as we explore how recent developments in the US economy, China's recovery, and tightening supplies could pave the way for a potential rise in oil prices, with a target of $100. Get ready to seize the moment and make the most of this oil dip!
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As you may be aware, Russia's oil shipment has hit a new three-month high, which has prompted us to revise our oil price target to $100. In light of this, we believe there may be a potential opportunity for long oil positions.
However, before proceeding further, I would like to emphasize the need for caution and prudence when considering any investment decision....
USOIL
As we said the direction is still rising and did a retest ,and it will rise again
stabilizing above 90.43 ill support rising to touch 92.19 then 93.27 then 95.07
stabilizing under 90.43 will support falling to touch 88.11 the 86.08
Pivot Price: 90.43
Resistance prices: 92.19 & 93.27 & 95.07
Support prices: 88.11& 86.08& 85.00
timeframe: 4H
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...
The more we look at market positioning on WTI, the more we suspect that oil may be dominating headlines as we head into 2024.
In recent weeks we can see that large speculators and asset managers have been increasing long exposure and reducing shorts, which is the ideal scenario for a bullish trend. Yet net-long exposure for both sets of traders remains low by...
Brent have two recent bottoms 1.June 2023 ($72) and 2. August 2023 ($82.5) and has rallied more than 33% since July. The rally still looks to be continuing without till 496, $98.5 and $100 very soon. Given the strong momentum buildup and supply cuts from OPEC+ has given the oil a due rally which the cartel was expecting since June 2023.
Technically speaking...
Unfortunately my last UKOIL prediction didn’t fair too well but using the science of Elliott Wave I think I’ve been able to identify previous mistakes and also a way forward.
I expect the $90-$91 range to send UKOIL back to $25 over the next 3 years or so. Based on what news? Who knows. We’ll see when it comes but the chart is always the first indicator :)
WTI Crude Oil hit the HL trendline inside the 1H Channel Up pattern, which was enough to turn the 1H technical outlook bearish (RSI = 37.852, MACD = 0.140, ADX = 31.002). A 1H RSI that low has previously been a buy entry two days ago. The lowest it has been during this Channel Up was 35.400.
In response to the above, we deem the HL hold good enough to make a...
Discover why the oil market is making waves and how you can ride the wave of this exhilarating rally!
Attention, traders! Brace yourselves for some exciting news that will have you itching to jump into the oil market. The oil rally is gaining steam, and it's time to seize this golden opportunity!
The recent surge in oil prices has sent shockwaves through the...
