WTI oil (USOIL) is falling towards a pullback support and could potentially break under this level to drop lower. Sell entry is at 70.114 which is a potential breakout level. Stop loss is at 71.30 which is a level that sits above an overlap resistance. Take profit is at 68.279 which is a swing-low support that aligns close to the 61.8% Fibonacci projection...
Nat Gas made an epic reversal today after being down over 6%. Oil got pummeled today despite a weak dollar. Is the energy market breaking down?
Will This Head & Shoulder Pattern work on USOIL's chart? Not a trade idea. If Closes above 74.5 its inverse H&S pattern but on wrong trend.
USOIL is currently near the key resistance level. If it can break through here, it will have the opportunity to form a head and shoulders bottom pattern, and then there is a high probability of reaching around 76. But if there is no strong breakthrough here, the head and shoulders pattern will fail, and it is highly likely that the support near 72 will be...
Here is our detailed technical review for USOIL. Time Frame: 6h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 73.87. The above observations make me that the market will inevitably achieve 71.95 level. P.S Overbought describes a period of time where there has...
Our overview: Weak demand balance Middle East tensions bringing to the market a substantial weakness. Resistance @$74.00 showed in the first days of the year to be strong enough to reject the price two times. Our overview in the short period is long with target in area $79/$80. Trends analysis: Primary(purple): upward corrective structure wave C,...
Oil prices fell in volatile trading on Thursday as U.S. crude inventories exceeded expectations and concerns about the Red Sea crisis eased. Crude oil's Xiaoyin cross K-line retraced yesterday and settled flat. In line with the rebound of the previous day's big Yang line, it did not make a further strong reversal upward, but went back down. At present, the daily...
WTI oil (USOUSD) is falling towards a pullback support and could potentially break under this level to fall towards our take-profit target. Entry: 72.085 Why we like it: There is a potential breakout level Stop Loss: 74.114 Why we like it: There is a pullback resistance level Take Profit: 69.666 Why we like it: There is a swing-low support that aligns close to...
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...
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Based on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
#USDJPY UPDATE Hey team hope you all are enjoying our ideas and analysis. Now we are here eto discuss about USDJPY. USDJPY is exactly Moving according our analysis. It has completed the retesting period. Now here can see a good drop in price. In drop we can see gain upto 200Pips+. When Market will open we will update further with Proper Chart TP and SL.
forex market weekly outlook . in this video im sharing u thaughts on oil gold and eurusd based on market advanc structure
Hello Traders, In the upcoming week, our attention is squarely on USOIL, where we are eyeing a potential selling opportunity around the 75.90 zone. The market sentiment for USOIL remains influenced by a persistent downtrend, and the current correction phase brings it closer to the crucial 75.90 support and resistance area. This juncture presents traders with an...
Observing the price of West Texas Intermediate (WTI), I notice an upward trend, with the price having retested the bullish trendline after breaking through the $74 level. Now, I expect a slight pullback towards $71.50 before a significant rebound towards $79 per barrel. However, from a macroeconomic perspective, I've also detected growing concerns about the...
USOIL - Classic bullish pattern - Our team expects retracement SUGGESTED TRADE: Swing Trade Buy USOIL Entry - 71.29 Stop - 70.17 Take - 73.66 Our Risk - 1% Start protection of your profits from lower levels ❤️ Please, support our work with like & comment! ❤️
This morning’s jobs report came in stronger than expected, and oil prices rallied. The 216k December NFP gain topped the +175k estimate, though revisions to the two previous months were sharply negative – a trend we saw throughout 2023. Average hourly earnings verified hotter than what economists were forecasting. At +4.1% on a year-on-year basis, workers are now...
BP appears to be Double Bottoming above the previous All-Time-High-Resistance and is Bullishly Diverging on the RSI and MACD. If this level hold, BP has room to go all the way up to around $50 which would also align with the 1.618 Fibonacci Extension. I personally think that out of all the big Oil Companies like XOM and CVX, BP presents the better value and would...