WTI oil (USOUSD) is falling towards a pullback support and could potentially bounce off this level to rise towards our take profit target. Entry: 71.224 Why we like it: There is a pullback support that aligns with a confluence of Fibonacci levels i.e. the 78.6% retracement and the 61.8% projection levels Stop Loss: 70.041 Why we like it: There is a swing-low...
Analysis of West Texas oil in the short and medium term The market is in the upward correction wave ABC, which is currently in wave B and can move towards $78 and $80 as wave C. The most important support is 72 dollars
WTI Oil (USOIL) is under a heavy technical squeeze as it has been trading for days within the 1D MA50 (blue trend-line as Resistance) and the 1W MA200 (red trend-line as Support) and the width has now gotten extremely tight that a break-out is inevitable. The very same squeeze was last spotted on July 03 2023, when the price marginally broke above the 1D MA50 but...
On the 1H chart the Crude oil is forming a potential Inverse Head and Shoulders. What is more important about it is that it's happening after a retest of a bigger symmetrical triangle. I am leaving the link toward the 4H oil analysis so that you can see the bigger picture:
For the few years there has been a close correlation between the US Dollar Index, US Treasury Yields, US Oil, and The Volatility Index, as of right now all are forming similar accumulation patterns, with the DXY, and Oil both sitting at the PCZ of a potential Bullish 5-0 at the 50% Retrace after breaking above its trend and the US10 Year yield sitting at the 61.8...
Our overview: Jitter due to the Red Sea tension persist. CoT released Friday "net long positions" report, showing an increasing long positions in futures and decreasing in options by the "non commercial". This could suggest that the market could be close to an upward movement of the price. Waiting for market mover data and news. Trends analysis:...
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ased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
You can see clearly the up trend in oil. I want to take entry from demand zone in chart
BLACKBULL:WTI is still within hard consolidation with two ways outcome. Look the video to get clues
The Crude oil is forming a potential double bottom on a 1H chart Zoom out the chart to see the Bigger picture. The price has been moving in a general down trend channel. Recently the price broke out of it to the up side and now it's retesting the former down trend resistance. On it, it's forming a potential double bottom. Additional confluences: - Oversold RSI...
Our overview: Red Sea tension on focus again. Divergence on hourly RSI. On breakout and close on hourly timeframe above $74.00 push the price straight to area $75.60/$76.00. On the other side, breakout of $72.80 could push again the price towards the bottom of the trading range. Trends analysis: Primary(purple): upward corrective structure wave C,...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 70.381 which is a pullback support that aligns with the 78.6% Fibonacci projection level. Stop loss is at 69.000 which is a level that sits under a swing-low support and the 100.0% Fibonacci projection level. Take profit is at...
WTI appears set tor a cheeky retracement. Volumes were falling during its leg higher from $68, and Wednesday closed with an exhaustion candle. Note the strong trading activity around $70 which indicates some bears were caught short and bulls initiated, which assumes short-covering helped fuel the rally and any retracement towards $70 could also be supported....
WTI Crude Oil is neutral on the 1D time-frame (RSI = 48.178, MACD = -0.770, ADX = 19.024) as the price continues its fierce consolidation within the 1D MA50 (Resistance) and 1W MA200 (Support). In fact the 1D MA40 has been unbroken since October 23rd 2023 and when it breaks we expect a strong rise like the July 5th 2023 breakout. A strong consolidation similar to...
Our overview: Negative EIA data, worse then the previous API release, push the price back to retest the support @$71.00. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 3. Our current strategy: Moderately Long looking to follow...
The American Petroleum Institute's latest report indicates a significant draw in U.S. oil inventories – a larger-than-expected decrease of 5.2 million barrels. But what does this mean for the market? This drop in inventories typically signals a tightening supply, which, in theory, should push oil prices up. However, the data also showed an increase in gasoline...
Geopolitics in the Red Sea Tensions in the Red Sea continue to rise, with Iran issuing yet another warning to the U.S. and its allies before expanding the war in the rich-oil-producing region. The warning follows the deployment of an Iranian warship in the Red Sea after the withdrawal of the USS Gerald R. Ford supercarrier from the waters earlier this month. In...