WTI is currently sitting at below 0.5 FIB level on a weekly data -- a key area where most buyers converge. $65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range. A bounce is expected from current price range. Accumulation has notably started increasing at the present levels. Spotted at...
Can Oil soar on June 2 OPEC+ cut hopes? WTI crude futures and Brent continue to recover from three-month lows. The rebound is potentially driven by expectations that OPEC+ will extend its output cuts of 2.2 million barrels per day into the second half of the year during its June 2 meeting. Additional support for crude prices came from the start of the U.S....
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Nat gas has been a monster breakout trade. Our members were positioned well on the long side and have officially closed everything out. We are now looking for an arbitrage short opportunity. We do except nat gas to go higher but price gains need to be digested.
Dear Colleagues, at the moment the price has made a strong downward movement. I suppose that the price is in wave "4" and can continue its movement to the support area of 80.22, but I consider only long positions, because the price can make a reversal at once. I recommend to work with pending orders. The nearest target is the resistance area at 87.47. Manage...
Bullish fundamentals are potentially setting up 'higher-for-longer' oil prices. I think we might see a retrace down to the trend-line area given how far we have extended. Although, in any case be ready to jump on a bullish move. If we start creating downtrend structure then sentiment might have shifted, noting US / EURO growth rates / interest rates are also...
WTI (OIL) has just reacted off the resistance and could fall to overlap support that lines up with the 38.2% Fibonacci retracement. Alternatively, if price breaks above the pivot, it could continue to rise to the next resistance level Pivot: 82.33 Support: 80.91 Resistance: 83.54 Risk Warning: Trading Forex and CFDs carries a high level of risk to your...
Hello,Traders! CRUDE OIL was trading along The rising support but now we Are seeing a bearish breakout And the breakout is confirmed So we will be expecting a Further move down Sell! Like, comment and subscribe to help us grow! Check out other forecasts below too!
Dear colleagues, earlier I wanted to write a forecast with a deep correction, but after reviewing the data I suppose that the price will go higher. I assume that it will be wave 2, but for now I expect a small correction to the support area of 78.88. Then I expect an upward movement to the area of 100% Fibonacci extension at 81.85. Manage your capital correctly...
In an uptrend movement, oil will move toward the specified goals with a good probability, and in case of normal movement, around the specified time limits, we can wait for the realization of the bullish goals.
Dear colleagues, I assume that the price has started another five-wave structure. At the moment I suppose that the price may test the area of 50% Fibonacci level of 76.73, then I expect the price to come to the resistance area of 79.37. But maybe wave 2 will not happen and we will see an extension of wave 1. Manage your capital correctly and competently! Only...
⭕ Oil is in an ascending channel, which can return to the range of 77.428 to 77.947 if the channel breaks. ⭕ Its target point can be around 74.637 to 75.101
Dear Colleagues, price is in a pretty strong downward movement. I suppose that the price fall will continue and after confirming the fall I will redraw the Elliott waves. So far, I assume that the price will reach the support area of 71.21. Before this decline, it is possible that the price will update the maximum a little more and reach the resistance area of...
In the one-hour timeframe, the price has reached a support range. We have to wait for the news results. If the news is positive, this level will be broken.Which is likely to be the case.
Dear colleagues, the price has confidently reached the previous target of 79.37. Now the price is in correction and I suppose that the price will test this area again. It may even retest the high of 79.30. After that, most likely, I will consider a downward movement, but more on that later. Manage your capital correctly and competently! Only enter trades based on...
Mega-cap tech’s climb to jumpstart 2024 fooled many strategists who called for value, cyclical, and small-cap niches to outperform. The same old playbook has been in full swing, but could that be about to change? Consider that banks, not chips, ended this week at fresh multi-year highs following a late-week pullback among the big semiconductor names. But there’s...