BRENT can break its downtrend line and if break, we can enter a LONG trade with targets of 84, 88, and 90
Hi Price broke through a bottom line of the pattern on 1H chart. Be careful as this could be a false breakout. Price target = 70.70. Good luck to everyone.
Hi Descending Broadening wedge on 1H chart. A bullish scenario is possible if the price breaks 77.00. I will just wait and see. Good luck to everyone.
I reminded yesterday that oil fell rapidly because of the postponement of the OPEC+ meeting, but the final time was set to be held again on November 30, so oil prices began to rebound yesterday. As can be seen from the chart, the trend of oil after the rebound is relatively weak, and today it did not break through the point where it started to fall at 77...
WTI oil (USOUSD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower towards our take profit target. Entry: 78.506 Why we like it: There is a pullback resistance level Stop Loss: 81.725 Why we like it: There is a pullback resistance that aligns with the 50.0% Fibonacci retracement level Take Profit: 72.437 Why we...
API Actual: 9.047M API Consensus: 1.467M EIA Crude Import Actual 0.259M EIA Crude Import Previous: -0.385M EIA Crude stock Actual: 8.701M EIA Crude stock consensus: 1.160M As Saudi Oil production had shrunk to nine million barrels per day in July since its last OPEC meeting with Russia to restrict supply amid signs of weakening global demand...
WTI Oil is trading inside a Channel Down since the September 27th High. The price is now forming the Right Shoulder of a minor Inverse Head and Shoulders pattern that bottomed on the Lower Lows trend line of the Channel Down. This is formation technically aims at pricing the new Lower High at the top of the Channel Down. Trading Plan: 1. Buy the moment a (4h)...
A big "butterfly" was detected in the January oil contract, which is a directional strategy with a target of $90, also known as the previous local maximum. It's important to note that this strategy appeared after a 4.7% decrease and when the 90 price was significantly lower and oversold for our mysterious participant, let's call him "X". *********To summarize,...
WTI OIL (USOIL) has been trading within a long-term Rectangle since the August 30 High. This is most accurately displayed by the use of the Fibonacci retracement levels where we can see that the majority of the price action has been within the 0.236 - 0.618 Fibonacci range. We call that the "High Volatility Zone". On November 16 the price almost hit the bottom of...
Overview: EIA data and OPEC+ meeting postponed, make tumble the market. My dear volatility!!! Strategy: Neutral. Follow the market. Our current position's Delta @$76.39: 0.03 This are all the corrections we made today 5)rebalance: @$76.39 (from 0.23 to 0.03) 4)rebalance: @$75.70 (from 0.62 to 0.03) 3)rebalance: @$73.90 (from -21 to 0.30) ...
OPEC+ will hold a meeting this weekend, and WTI oil traders will face significant risks.If more and longer production cuts are announced at the OPEC+ meeting, oil prices may pick up As can be seen from the chart, oil has been in an upward trend, but it has not broken through the middle edge of the trend line. So we are still waiting to fall to the support...
With oil prices having fallen around -25% from the September high, a correction higher may be due. And as prices failed to hold beneath $70, Wednesday's bullish hammer (which is also a higher low) has caught out eye). The hammer was coupled with above-average volume to suggest demand around $75, and the initial break below $70 was seen on strong negative delta...
WTI Crude Oil / USOIL is trading inside a Channel Down for almost 2 months. The recent Lower Low on its bottom is so far replicating the previous one on October 6th. Today's sudden decline made a symmetric pull-back as on October 12th. This is the final short term buy opportunity before the price approaches the top of the Channel and the 4hour MA200. A...
HELLO TRADERS !!! As i can see CRUDE OIL π’οΈ The anticipated OPEC+ meeting set for this weekend to a postponement to Nov 30th. The delay stemmed from challenging discussion between Saudi's and fellow members regarding oil production levels.... Saudi Arabia currently implements an additional 1 Million barrel per day output cut since July engaged in talks...
#USOIL.. as you can see guys we short oil in yesterday and hold it with cut n reverse stop and in today market hitt our target zone and we take 200 pips. now market have 73.80 as major supporting area keep in mind guys if market did not hold his supporting area then a new era will start in oil price, and downsie we have 71 and then 68 as major areas, manage...
#USOIL.. now market at his very important resistance area for today. that is 78.50 keep close it guys. because if market hold it then a sharp drop expected below that level. if not then upside we have 80 and 81 as next areas. dont hold your buying below that level.. trade wisely good luck
Hi Traders ! Today, The USOIL Price Broke a Strong Support Level (75.55 - 73.89). This Support Level Becomes a New Resistance Level. So, I Expect a Bearish Moveπ. let's Wait For Retest ! ----------- TARGET: 70.50π―
As We Talked in The Previous Analysis: The USOIL Price Broke a Strong Support Level (75.55 - 73.89). This Support Level Becomes a New Resistance Level. Currently, The Price pull back to Resistance Line, And Failed To Create a New Higher High. ----------- TARGET: 70.50π―