My overall sentiment for Oil remains Bearish, though my midterm sentiment has been Bullish, as I think WTICOUSD needs to come back up to revisit some of the highs above 100 and face one last rejection from those levels before I will be fully convinced of oil making significantly lower lows.
For the time being, Oil has dumped below last week's range but is now...
Crude Oil is very close to a broken support of a daily horizontal range.
72.2 - 73.0 is the area, from where I will anticipate the next bearish wave.
Let the price test the underlined yellow structure and wait for a confirmation
to sell from there.
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Hello,Friends!
The BB lower band is nearby so USOIL is in the oversold territory. Thus, despite the downtrend on the 1W timeframe I think that we will see a bullish reaction from the support line below and a move up towards the target at around 73.65.
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Hey Traders, in the coming week we are monitoring USOIL for a selling opportunity around 72.30 zone, USOIl is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 72.30 support and resistance area.
Trade safe, Joe.
Before, I have notified that oil can be bought gradually starting at 69.4
Oil reached a minimum of 68.8 yesterday. If you follow my strategy to buy gradually, you have made a lot of profits now. There is currently a lot of resistance near 70.8-71.
Judging from the chart, oil has temporarily moved out of the downward trend, but it needs to be observed whether...
TVC:USOIL Crude oil futures rose toward $76 per barrel on Friday, cutting the 5% plunge from the prior session that took prices to their lowest since July. CBOE:OVX ended on $40.43 nearly 7 percent lower than its previous session.
Breakthrough 75.63 resistance. Still it is within acceptable deviation range, the short stance is yet too early to be declared...
Crude Oil dropped yesterday, as I predicted.
In fact, the market is trading in a bearish trend on a daily.
A breakout of a horizontal support of a wide horizontal range
was a strong trend following signal.
The next support that I see on a daily is 67.5.
It will most likely be the next goal for the sellers.
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Nat Gas inventories today showed higher consumption,
Hitting technical support and oversold on daily RSI.
Oil gained 0.5% but it was a weak bounce considering the Dollar was weak.
Crude oil (USOIL): Crude oil opened at 69.7 today and rose by 7 US dollars in the morning. Yesterday, we planned to go short near the daily pressure of 70. In the afternoon, it broke through the 70.4 line and stopped falling at the 68.8 line in the evening. We successfully made a profit, but It did not fall to my ideal point of 68, but has since rebounded and...
Usoil Formed Head & Shoulder selling formation. Sellers can enter for Long term Selling side. Safe Traders can exit in Target 1 and can renter at retesting zone.
Yesterday, the market rose first and then fell in the evening. It once reached the 69.10 line below and is still rebounding slightly. Now there is a desperate counterattack signal at the 69.10 line. It is expected that a rebound is about to happen. It depends on the strength of the short-term rebound. The short-term general direction remains unchanged. In the...
From a technical point of view, the oil is already oversold
You can try to buy oil gradually at 69.4 now and control your position, so that your success rate will be greatly increased.
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WTI is currently sitting at below 0.5 FIB level on a weekly data -- a key area where most buyers converge.
$65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range.
A bounce is expected from current price range. Accumulation has notably started increasing at the present levels.
Spotted at...
I recommend you to sell USOIL at this levels as you can see we have a big probability to continue pushing down as result of trendline and made a small pullback on key level
WTI oil prices were trading near $74 after last week's OPEC+ meeting. The dollar rose as interest rate differentials between the U.S. and other countries widened. Once the U.S. replenishes its strategic reserves, oil could fall as supplies increase.
Looking at the daily chart of crude oil, oil prices have continued to fall since the second rebound failed in...
✅CRUDE OIL is trading in a
Downtrend and is now
Making a bullish correction
But a strong horizontal
Resistance is ahead from
Where I will be expecting
Bearish continuation
SHORT🔥
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#USOIL... so market hold his bottom and going for retrace,
its retrace or low placed?
you can see market pattern how market make pattern and dropped in history,
same now we have 71.20 as upside resistance area, if market hold it then you can see again a drop from here,
any buying will be valid above 71.20 keep close and manage your positions...
