the sideways area has been successfully passed, there is a possibility that the price will retrace to the support area and resume the bullish trend again with the nearest target at $77.
Today, the EIA is negative for oil, but it has not fallen much, which shows that the bulls are very strong, but now the technical analysis is expected to test the trend line. When it is confirmed that it is still valid, there will be more motivation to rise.
Looking at the daily level of crude oil, the Bollinger Bands open upward, and the price breaks through the resistance on the upper track. The bullish trend is clear. Short-term operations and other callbacks enter the market, following the trend. In the 1H chart, the Bollinger Bands continue to open upward, and the opening price of the Asian market rose. Going out...
I am bringing your attention to some concerning factors that may impact the oil market in the coming months. It is crucial to be cautious and prepared for potential challenges ahead. Firstly, the rise in interest rates is likely to impact oil prices significantly. As interest rates increase, borrowing becomes more expensive for oil companies, reducing investment...
First and foremost, the oil market has been showing remarkable momentum lately, and I believe we are on the brink of a potentially profitable move. The latest Simple Moving Average (SMA) crossover signals a solid bullish trend, indicating an upward price movement. This is a great sign for us looking to capitalize on the market's upward potential. But that's not...
In the past week, we have witnessed an unprecedented surge in oil prices, driven by a third consecutive week of negative oil supply and the lowest levels seen since January. This remarkable turn of events presents an exciting opportunity for all oil traders to capitalize on the market's volatility and maximize their gains. The current market conditions have set...
Get ready for an exciting dive into the world of oil markets! As we kick off the bullish messaging from Saudi Arabia and other oil producers, we have an important event on the horizon. The July 5-6 seminar will bring together oil industry CEOs and energy ministers from OPEC - the Organization of the Petroleum Exporting Countries. OPEC+, which includes Saudi Arabia...
Crude oil first fell and then rose on Wednesday. The drop of 67 was blocked and then fluctuated upward. The EIA data was bullish. The oil price broke through 69 and reached a maximum of 69.7. Today, let’s see if 70 can break through, and then look around 72 after breaking the position. At the top, focus on 70.5, the hourly line, 69.7 is blocked and there will be a...
Crude oil is still bullish at the moment, because the bottom is an obvious triple bottom, plus all the positive closing lines, this is a signal to continue to stop the decline, At the same time, crude oil is also operating in shock, the shock area is 67-74 line, Intraday strategy BUY69, SL68,
The direction of crude oil is empty in one hour, and the bearishness is clear. After a slight rebound and correction in the intraday price, 69.4 is directly empty!
Now that the oil price is approaching the suppression of the 4-hour period moving average, long orders should be the first to make profits. This position is not easy to grasp. Wait for the oil price to break through the moving average or fall to the trend line to re-arrange long or short orders. In the triangle arrangement pattern, just sell high and buy low....
I want to bring attention to recent developments in the oil market, in relation to have recently announced plans to reduce their oil purchases, in response to the spike in interest rates from the central banks of England, Norway, and Switzerland. This move by central banks is significant, suggesting a shift from reliance on oil as a critical commodity. With...
The USOILSPOT market witnessed a remarkable surge in momentum last week, fueled by positive economic data from the Chinese government. As a result, USOILSPOT closed around the $72.00 zone, allowing us to secure over 500 pips in profit through multiple entries. The rise in oil prices was primarily driven by increased Chinese demand and supply cuts from OPEC+....
The current one-hour direction is running in a bullish pattern, and the intraday callback is mainly to do more. Wait for the price to fall and then take advantage of the trend to do more. Pay attention to the price of 72 and 71.8
After finishing the high range at the beginning of this week, the price peaked one hour after the price fell below 70.8 yesterday, and the short-term direction changed from long to short! Before a new bottom pattern appears in one hour, taking advantage of the trend and high altitude is the only trading idea. After the intraday price rebound, you can pay...
SELL71.8, see the 70.5 line, just break through 72.3 and stop loss. Generally speaking, the oil price range is 72.3-69.9 within the day! If you break the upper and lower support levels, change your strategy and follow up! Intraday strategy follow-up is closer. . .
On the whole, today's crude oil price should focus on the 71.8 high point and 72.5 resistance for the upper resistance, and the 70.4-69.5 support for the lower part. During the shock period, you can sell high and buy low, and swing trading can maximize today's benefits
International oil prices were basically stable this Friday, and the U.S. index rebounded from a more than one-month low, limiting the rise in oil prices. Oil prices snapped a two-week losing streak on optimism over rising energy demand in top crude importer China. The upper pressure level of crude oil is 71.63 US dollars. The data released on Thursday showed that...