Take a look at our analysis for USOIL. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 77.81. The above observations make me that the market will inevitably achieve 73.55 level. P.S The term oversold refers to a condition where an asset has traded...
In the short term, the oscillation pattern of crude oil and fuel oil futures may continue On March 12, crude oil varieties fell as a whole yesterday, especially fuel oil futures fell significantly. 1. The weakening of macro factors has hedged the benefits of OPEC+'s extension of production cuts. The weakening of oil prices has led to the decline in the support...
It is so easy to trade around this range. The current trading recommendation is still the range strategy of 78.3-76. A support-to-pressure conversion can be done near 77. If you love trading, welcome↓
West Texas Intermediate crude oil continues to trade within the upward-sloping channel. However, its bullish trend remains weak, as reflected in the relatively low (but growing) value of ADX (on the daily time frame). In the past two trading sessions, the daily RSI continued to flatten, Stochastic turned lower, and MACD performed a bearish crossover while staying...
Hey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 76.50 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 76.0 support and resistance area. Trade safe, Joe.
WTI oil (XTIUSD) is falling towards a pullback support level at 77.21 which has been identified as a pivot point. Could price bounce off this level and potentially climb higher towards the 1st resistance? Pivot: 77.21 Support: 75.84 Resistance: 80.04 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade...
WTI oil (USOIL) has just bounced off a pullback support and could potentially climb higher from here. Buy entry is at 77.293 which is a pullback support. Stop loss is at 75.600 which is a level that lies underneath a pullback support. Take profit is at 79.914 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a...
Natural gas has started the week off on a bad note. Nat gas has lost the key weekly volume gap fill at $1.8622 This was the line in the sand that the bulls needed to maintain. The fact that Natural GAs has lost the key supply zone shapes up for a likely bearish move lower. We are holding the 20 Day MA so Bull have one last hope at this level. Hope typically...
According to the current trend of crude oil, the price of crude oil is basically fluctuating at 77-78 US dollars. At this stage, the crude oil price reached 78.6 and was unable to break through due to resistance, and then fell again. As far as the current trend is concerned, the crude oil price is oscillating at 78 US dollars. Please pay attention to my signals...
There is a series of negative news for crude oil. Crude oil is currently around 77.6. After the decision to extend voluntary production cuts into the second quarter was announced, oil was sold off, indicating underlying weak demand. What is even more worrying is that Russia agreed to voluntarily cut production last year, and then voluntarily cut production by...
Hello traders! ‼️ This is my perspective on USOIL. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for a long. I wait price to continue the retracement to fill the imbalance lower and then to reject from bullish order block. Like, comment and subscribe to be in touch with my content!
For crude oil on Monday, focus on the first-line support of 77.0 at the bottom and the first-line resistance of 80.5 at the top. At the same time, pay attention to the upper and lower breakthroughs before making changes. Crude oil operation suggestions: 1. Go short after rebounding near 80.5, stop loss 0.6 US dollars, target around 78.5-77.0; 2. Retrace...
Crude oil trend analysis, easily make money for you The overall trend of crude oil rose and fell back last week. The expected strength did not appear, but the upward trend has not changed. As long as crude oil price does not fall below 77 US dollars per barrel, the oil price will still rebound, and the weekly negative closing means that there will definitely be...
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During Monday's trading session, the WTI oil price commenced a decline, hovering around $77.35, following a bullish candle that countered three consecutive negative days. Market analysts suggest that the price may experience a pullback at the resistance and supply area indicated on the chart (highlighted in the red rectangle). This anticipated pullback is...
Although OPEC+, an organization of oil-producing countries, has extended production cuts, the market remains wary of crude oil demand. Oil prices closed down more than 1% on Friday, with Brent crude oil falling by 1.69% this week and WTI crude oil falling by 2.46% this week. Brent crude oil futures closed down $0.91, or 1.10%, to $82.05 per barrel. This week’s...
Take a look at our analysis for USOIL. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 77.77. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 79.45 level. P.S We determine oversold/overbought condition...
🛢 CL OIL, H4 🛢 11 March 2024 Crude oil prices experience a slight dip as apprehensions persist over soft Chinese demand. Despite OPEC+ extending supply cuts, China's conservative economic growth target of around 5% for 2024 raises concerns. Analysts emphasise the challenging outlook without additional stimulus measures. Attention shifts to major central banks'...