In our previous forecast, we were expecting WTI to fall and reach the liquidity pool. Instead, the price increased, but our bias hasn’t changed.
For next week, we expect the price to lose some steam and drop towards the support area that we highlighted.
Keep an eye on Wednesday’s weekly EIA stocks report as it may have an impact on this asset.
Here is our today's forecast on OIL.
Our analysis is based on current market fundamental sentiment.
According to our drawing OIL is coiling on support.
Based on our view the market will accumulate.
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Hello again, traders. Long time to not post anything over here.
Since yesterday I had this operation opened. A nice short in WTI.
My main entry was in the orange line but once I saw price was not going to reach it, I had to switch into LTF to seek a refined entry. At least, I was sure price was going to go down around that zone so I took my risk and pulled the...
Hello Traders and Analysts,
A Note before reading - this is a forecast analysis - based upon our trading strategy. This is tagged long, due to purchasing further increments upon imbalances.
Please do not take this as face value and conduct the relevant investment strategy to successfully trade the probabilities.
A bullish scenario is needed, as well as a bearish...
The black gold has been recovering slowly but steadily. After breaking the strong psychical level at the 64 handle, it recorded a fresh higher high at 65.44.
Price action has recently retested the broken level, in confluence with Fib golden level 618. It might signal an uptrend continuation. Fundamentally speaking, the bulls dove in after reports of gasoline...
Updated Oil chart after a rise that has to do wit an additional 2 factros, apart from demand:
1. These news from Goldman that Oil can hit 80$
2. OPEC meeting that took place this week
Murphy's law says the price can drop a bit now before rising further
Oil has been beating on me a little these days.
I see another setup worth my 1% risk.
I have highlighted the area of resistance, double top potentially forming?
I can tuck my stop above that $65 level, and get a 2:1 in before that 200EMA.
I am short this level.
2:1 RR 1% Risked
#WTI #oil futures has been my favorite trade over the past few days. Technicals and fundamentals are lining up for higher prices. The fundamentals story is pretty simple...we are coming into the summer and COVID restrictions are lessening...so demand will be greater (and likely a greater rate of change than many previous years). On the technical side....it...
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I will begin NASDAQ ZeroMarket US100 Chart Analysis for April 28.
This is a 30-minute...
West Texas Intermediate oil is consolidating in neutral trend since 8th March 2021. Since then, price action took WTI back to its 20-day moving average and 50-day moving average which suggests that consolidation might be near its end and upward movement can be anticipated. This is further supported by reversal in RSI. Our price target for short term is 65 USD per...
The originally scheduled 4/28 (3) OPEC+ ministerial meeting was held ahead of schedule on 4/27. The resolution was held on hold and was in line with market expectations. The prices of WTI and Brent crude oil futures remained stood at the prices of $63 and $66 per barrel respectively.
On Tuesday evening, the OPEC JMMC Joint Ministerial Monitoring...
Where do we begin?
first, let's talk momentum.
Monthly - bullish
Weekly - turning bullish
Daily - bullish and increasing
4 Hr - so bullish
well, it seems like Crude will be revisiting $64.20 (target). There may be some turbulence along the way with the daily downtrend line but.. it's likely going to break. 🙄
Happy Trading folks!
Since my last analysis on crude,
the price has respected a support line of a rising parallel channel on 4H.
The market formed a double bottom formation on that and broke its neckline.
I expect bullish continuation.
Next goal - 64.0