USOIL finds itself at a critical juncture, facing a formidable horizontal resistance level at 79 that has proven unyielding since November 2023. However, a noteworthy development is underway as it sustains its position above the DEMA100 for the first time since October 23.
Furthermore, there is discernible formation of an inverted head and shoulders pattern...
USOIL finally make a fake signal for buyers.
The flat uptrend channel looks good to stress oil for making a new high before a correction.
The fake breaking through signal last trading days on 4h chart sending us a signal that it will turn down for a new swing down first.
GOOD LUCK ON THIS SELLING PLAN.
LESS IS MORE!
Crude oil technical aspects
Daily resistance is 79.2, support below is 75.5-74.4
Four-hour resistance is 76.8, and support below is 75.5-74.4
Crude oil operation suggestions:
Judging from the daily analysis, crude oil prices fell last week and closed down, and the bullish trend weakened, but the overall trend was still bullish. The daily level has not exceeded...
Last week, USOIL did not break through the weekly structure. Does it mean this smile curve fail?
Not exactly, it looks like a longer time and wider space for USOIL to sideway move in at the bottom. Check this left weekly chart for details.
In the 4H right chart, USOIL is making a bearish 4H top again, so it could be safer to follow this 4H bear...
Oil prices are sliding nearly 2% on Friday with the United States hitting fresh highs in Oil production, added with Iraq announced the reopening of a refinery that was closed for a decade and amid expectations that OPEC+ countries won’t opt for big production cuts. President Of Rapidan Energy and former White House official Bob McNally said that OPEC+ said on...
hi we are monitoring for long term investment usoil its best pair for long term investment
now its showing weekly time frame chart ascanding triangle pattren we have best buying opportunity around 67 for long term investment not for short term long term investors can hold for this buying opportunity for big targets upto 123 to 180 for more updates stay tuned...
Usoil looks like was under this pattren now we have best selling opportunity
we can hold upto 76.60 to 73.52 its signal dont miss more updates stay tuned
Usoil Sell Entry Price 78.16
Take Profit 76.70 After Break This Level Next Tp Possible
Take Profit 75.47 After Break This Level Next Tp Possible
Take Profit 73.52 Its Last Tp
It appears that USOIL is poised for a bearish trend following its completion of the fifth Elliott wave within an ascending channel and a double top pattern formation. The recent breakout from a rising wedge suggests a potential continuation of this downward movement. Traders may consider selling positions as the technical indicators align with this bearish outlook.
From the daily analysis, crude oil is currently in the range of 71.5-78.5. The daily level has not broken through and stabilized at 78.5, but is still in shock. Below is the support of 76.5-75.4. Trade based on this range first. If the price breaks through 78.5, and Oil prices above 78.5 will see further room for growth
‼️ 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 want price to make a retracement to fill the imbalances lower and then to reject from bullish order block + trendline.
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US CRUDE OIL
The price of oil is finding it difficult to continue rising, showing some bearish tendency and approaching the $76.00 barrier. We believe that opportunities are available to resume the expected upward trend in the immediate term, whose next target is at 77.00, 78.00.
Therefore the upward scenario will be more likely during coming...
Pair : Crude Oil
Double Top as an Corrective Pattern in Short Time Frame
Completed Impulsive Waves and Correction
RSI - Divergence
Rejecting from the Resistance Level
Break of Structure and Completed the Retracement
🚨 Crude Oil #WTI
🗓️ Date: 12 February, 2024
⏰ Timeframe: Daily
💡 Given in the chart –
♦️ Green (long term support) = 67.50
♦️ Red (resistance) = 78.85
The price has been in the range (red color) on the chart since December last year. Price touched this range several times but failed to deliver a breakout. As long as this range remains active, the potential...
As I can see USOIL is now trading above the uptrend line and it will be more bullish because of Asian Demand and War in Middle East Technically also it showing us clear view that it is holding above the support level and trading in bullish trend after a small reversal we expecting more buys in USOIL Trade As you can see our pervious entry on USOIL...
Pure technical analysis.
After a fairly strong bearish movement on Thursday and Friday (1 & 2 Feb 2024), USOIL touched the lower channel (D) at a price of 71.798 and seemed hesitant to continue the downward movement at the end of market closing.
The formation of leg D is predicted to form rejection so that market movement will reverse to complete wave E at...