USOIL is trending up on the 4H time frame, we are looking for an entry point at the 61.8% retracement level with targets being the current price swing high and a 50% measured move. SL below the previous swing low.
Oil has currently fallen below the 77 support. It is currently undergoing a short-term correction. The previous support point has turned into a resistance point. The resistance range is 78-78.3. Currently, oil is still oscillating in the 77-78 range.
So now we change our previous thinking. If you reach the resistance range, you can choose to sell
If you don’t...
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...
Recently, the direction of oil is still to wait for the support level to buy. The current large range is 77.5-81, and the small range is 78.5-80.4.
You can wait for the support point to buy, or you can choose to sell at the upper edge of the range.
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Hello Traders!
This is my idea related to USOIL H1. I expect the price to go bullish as it reacted perfectly from the OB level and also the support area. I expect the following scenario, the price will retrace again in the OB area and after that, I expect it to rise until the price of 79.45.
Traders, if my proposal resonates with you or if you hold a divergent...
Yesterday, representatives said: OPEC+ agreed to extend the reduction of positions until the end of the second quarter
Last Friday, oil also hit a new high this year, reaching a maximum of 80.8. OPEC's reduction in positions will also be beneficial to the rise of oil in the short term.
Therefore, oil is still waiting to fall to the support point to buy. Only...
Hello traders!
This is my idea related to USOIL H4. I expect the USOIL to go bullish after the retracement from the OB and supply area.
Traders, if my proposal resonates with you or if you hold a divergent viewpoint regarding this trade, feel free to share your thoughts in the comments. I welcome the opportunity to hear your...
From the four-hour chart of crude oil, oil prices are still in the rebound stage. Mainly fluctuating and rising, it continues to test the upper edge of the channel. Judging from the past background of this round of testing, the accumulated momentum is sufficient, and the mid-term trend will mainly be upward.
The short-term support is mainly strong support from...
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
Recently, the output of U.S. refineries has dropped sharply, U.S. crude oil inventories have declined, and sanctions on Russia have gradually increased pressure on the import side. At the same time, attacks on U.S. and other ships in the Red Sea continue.
As can be seen from the 4H chart, oil has been supported many times, but it has not broken through the...
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
Oil has been in a volatile range recently. The large range is 74-79.5 and the small range is 75.5-78.5. The lowest reached around 76.3 yesterday and the highest today reached around 78.4.
Recently, due to geopolitical reasons, oil has been trending stronger, but it has not broken through the strong resistance point of 79.5 during the OPEC meeting. Therefore, I...
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
Hello Traders!
This is my idea related to USOIL H1. According to the market structure, I expect a continuation of the bearish market, and at the moment I see a good signal for a short trade as the price reacted from the OB.
My target is the level below the BOSS.
Traders, if you liked my idea or if you have a different vision related to this trade, write in the...
Pair : Crude Oil
Description :
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
The top shape of crude oil has been formed and is now in the downward adjustment stage. During the day, focus on the support near 75.60, and on the upper side, focus on the resistance of 76.85-90.
Keep asking me about oil. Last week I emphasized that oil did not fall below 74 and will continue to rise this week
It can be seen that yesterday the lowest oil price reached around 75.8 and the highest reached around 78.2, but it did not break through 78 many times, so it can be judged that the current range is between 75.8-78.2
In an upward trend, you mainly...
Oil is still in an upward trend, wait for the right support point to buy
During the recent period, the highest point of oil was 75.8 and the lowest point was 70.5.
Daily line: 67.71 support point, 79.8 resistance point
4H: 70.5 support point, 76.18 resistance point
These three important resistance points are 76.1-76.7-77.1
I see the possibility of oil bottoming...
