Pair : US Oil Description : Bearish Channel as an Corrective Pattern in Long Time Frame with the Breakout of the Upper Trend Line. Completed " 12345 " Impulsive and Making its Correction. EXP FIAT in Short Time Frame and Rejection from Upper Trend Line. Divergence and BOS
Selling near 71.6 in the morning has already made a profit of 60pips. In terms of crude oil, we will pay attention to the resistance of 72.20-72.30 during the day. The support below needs to be towards 70.90. If it falls below, it will continue to fall by 70~70.5. Original post: The current trend is dominated by bears.
Under the influence of the current conflict in the Red Sea, oil has made a short-term correction under the pressure of a strong US dollar. Technically, the long and short positions have alternated, and it still shows the wide range consolidation trend that has been emphasized recently. The last trading day fluctuated from around 72 and hit a maximum of 73.5. The...
At present, the resistance here at Oil 73 is very strong, and there has been no breakthrough many times. Usoil:sell72.8-73 TP:72.3-72-71.7 SL:73.2 For short-term trading, join me and I will continue to analyze
International crude oil futures rose 1% last Friday. Although they rose, they could not erase last week's decline. Last month, OPEC and its allies pledged to cut production by 2.2 million barrels per day in the first quarter of 2024. After oil prices surged sharply last Friday (January 12), they gave back all their gains, which means that short sellers may make...
The U.S. EIA crude oil inventory unexpectedly rebounded. Although oil-producing countries such as OPCE+ and Saudi Arabia are fully confident in stabilizing the crude oil market, the market performance is poor and the demand side is relatively weak. As a result, oil is currently in a range-bound state. Usoil:sell72.75-73.1 TP:72.3-72 SL:73.3 In volatile market...
On Monday, we emphasized that there are long-term buying opportunities in crude oil. We have made huge profits by buying crude oil this week, and all signals are profitable! Accurate signals are sent every day, with profits of 300-500% in a week!
Crude oil experienced a significant decline today, and attention is currently on the support zone of $69.8-$70.6. Consider initiating a buy position within this range, with a long-term target set at $74-$75. usoil:buy@69.8-70.6 sl:68.5 tp:73-75 Accurate signals are provided daily, with a weekly profit potential of 300-500%!
On Monday (January 8), international U.S. crude oil prices traded around $72.85 per barrel. U.S. non-farm employment growth in December exceeded expectations, prompting financial markets to lower expectations for an interest rate cut by the Federal Reserve in March. The risk posed by tensions in the Middle East is an important factor in the price rebound....
Will This Head & Shoulder Pattern work on USOIL's chart? Not a trade idea. If Closes above 74.5 its inverse H&S pattern but on wrong trend.
USOIL is currently near the key resistance level. If it can break through here, it will have the opportunity to form a head and shoulders bottom pattern, and then there is a high probability of reaching around 76. But if there is no strong breakthrough here, the head and shoulders pattern will fail, and it is highly likely that the support near 72 will be...
Oil prices fell in volatile trading on Thursday as U.S. crude inventories exceeded expectations and concerns about the Red Sea crisis eased. Crude oil's Xiaoyin cross K-line retraced yesterday and settled flat. In line with the rebound of the previous day's big Yang line, it did not make a further strong reversal upward, but went back down. At present, the daily...
Oil prices rose in Asia on Thursday, with WTI oil prices hovering around 73.6. Disruptions in Libya's top oil fields heightened concerns that rising tensions in the Middle East could disrupt global oil supplies, and international crude oil prices climbed about 3%. The two crude oil benchmark prices closed higher for the first time in five days, with WTI crude oil...
On Wednesday (January 3), crude oil prices were trading around $70.37 per barrel. As investors lowered their expectations for interest rate cuts, the dollar strengthened, putting oil under pressure. Oil prices fell on the first trading day of 2024, with international crude oil futures settlement prices falling by more than 1% as concerns that tensions in the Red...
Crude oil prices remained weak in Asian trading on Tuesday and are currently trading around 72.6. During the day, we will pay close attention to the US PMI to be released later on Tuesday. Later this week, the Federal Open Market Committee (FOMC) meeting minutes will be closely watched ahead of Friday's U.S. non-farm payrolls (NFP) report. The crude oil market...
The crude oil market is currently at a crossroads, balancing geopolitical tensions in the Middle East with economic factors and policy speculation. Although oil prices fell in early Asian trading on Wednesday, they surged more than 2% earlier this week to reach their highest level this month. Inventory reports further affected the market outlook. Forecasts show...
Traders this week must contend with both declining liquidity and potential tensions caused by Yemen's Houthi rebels. If the shipping crisis in the Red Sea region persists, it will not only provide some support for WTI crude oil prices this week, but also create opportunities for speculative buying. Traders will need to be cautious about risk management this week...
Angola said it would withdraw from the Organization of the Petroleum Exporting Countries (OPEC), raising questions about the producer group's efforts to support prices by limiting global supply. In the 4-hour chart, after falling below the middle track and back-testing the lower track, it holds the sub-low and rebounds above the lower track to regain the middle...