Previous resistances acting as support, which is around Wave 1 of this trend. In addition there was a sell pf from Wave C of the ABCD pattern, price action has retrace back to this level, its also acting as support.
Oil prices are correcting downwards.
Pressure on quotes is exerted by the expectation of a recession in the US economy, predicted by US Federal Reserve officials at the last meeting, as well as the probable postponement of the pause in tightening monetary policy from the May meeting to June. Currently, most experts are inclined to believe that next month the...
the price of Oil rise after the China and India demand for oil from Russia and also in my opinion the price will go long as we witness about the global warn about war and future Crises my long oil target is above pervious year high in 2023.
The panic brought about by successive bank bankruptcy, the market expects that the European economy will enter a recession, and the demand will drop sharply, leading to a general decline in commodities. Crude oil has fallen below $70 yesterday. If it falls below $60, it is expected to continue to fall to around $43 , which is very large space.
If the...
Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a bearish market structure from daily perspective, so I am looking for shorts. I expect price to go a little bit higher for buy stop liquidity and to fill the imbalance and then to reject from bearish order block.
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The OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day hereby bringing the total volume of cuts by OPEC+ members to 3.66 million bpd according to Reuters calculations - a whopping 3.7% of the global oil demand. The latest reductions have a strong potential of lifting oil prices to new highs. In this video, we...
GAP is defined as the gap between 2 consecutive trading sessions (or 2 candles). GAP is determined based on the closing price of the previous candle and the opening price of the following candle. Under normal conditions, the closing price of the previous session will be the opening price of the immediately following session.
Analysis USOIL :
Given the break of the fake bottom and the weakness in the downtrend, I expect the price to grow to the set level.
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price: 69.30
sl: 66.30
tp: 72.00
tp2: 74.00
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👤 Alireza hajighasem : @alirezahajighasem
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📅 3/22/2023
USOIL / 4H
Hello traders, welcome back to another market breakdown.
USOIL is trading at a Major Key level where you would expect a reaction from the bulls.
Checkout the chart for what I'll be waiting for before going long.
Trade safely,
Trader Leo.
UKOIL is in falling wedge and near 2020 trend higher low after its breakdown we saw a crackdown and more selling
but if we follow rules we can see a pullback to wedge uppr trendline
and after breakout ukoil gives a new move
OIL broke through the resistance around 69.8-70 yesterday, and the resistance has now turned into support.
The new resistance is around 70.8. If the support does not break, you can go long USOIL.
The first TP will continue to be placed at 70.7 yesterday's TP. If Break through 70.8, the next TP target is 71.2-72.4.
SL temporarily set to 69.47
I have...
Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here I still looking for shorts position and expect price to continue the retracement to fill the imbalance higher and then to reject from bearish order block where I will look for a confirmation on lower timeframe.
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dear traders petrol in down side deep trend has last week so we should be careful with this market it is not easy to take the chance if you re not eligible to respect the zones it all in my chart the instruction is very clear trade safe traders
good luck
US crude oil has fallen for three consecutive days, pushing oil prices below $70 per barrel. As the market continues to revise down expectations for economic growth, and rising crude oil supplies offset the boost from China's reopening and the instability caused by the Silicon Valley Bank (SVB) collapse and Credit Suisse crisis, the financial market is facing...
USoil aka Wti crude oil is expected to fall a bit and then boom for midtterm so trade accordingly
wait for confirmation and also must use stoploss.
dont rely on me, i am not your paid consultant!
Hello traders!
‼️ This is my perspective on USOIL.
Here we are in a bearish market structure from H1 timeframe perspective, so I am looking for shorts. I expect price to continue the retracement and then to reject from bearish order block, as well we have there most orders as per volume profile .
Like, comment and subscribe to be in touch with my content!
On Tuesday this week, the testimony of the Chairman of the Federal Reserve before Congress raised concerns about risk assets in the market. In this testimony, Powell stated that "if it is necessary, the Federal Reserve is prepared to speed up the pace of interest rate hikes, and terminal interest rates may be higher than expected." These words indicate that the...
