Following the surprise news from OPEC+ where the cartel decided to cut production by more than 1 million barrels a day, energy prices gapped strongly to the upside. WTI tested the 82 price level again which was at the 50% fibonacci retracement level. Typically it is believed that price would have to close the gap before continuing with the trend again....
We hold this trade almost a week, and catch 1100 pips! at this moment, oil expect move a little down then keep to go up but at this moment, the candle is not closed yet at the daily timeframe once the candle is closed above the falling wedge, it may toward to 90 level Let's be patient and wait the price retrace.
The USDCAD pair is correcting; it could last months. This probable down move will push up oil prices, thus, raising inflation rates worldwide!
The price of Crude Oil gapped 6% on market open tonight & moved up 460 PIPS😳 What a crazy move! This was caused on the back of Saudi Arabia & OPEC announcing further Oil output cuts of around 1.16 million barrels a day. This is their way of fighting back against the U.S. & punishing them. This'll create immediate price rises in the United States, then also follow...
As you can see, after the downward movement, the price started correction around 64$. Well now, the crude oil price is on an important level. It is daily resistance, the price is near 0.705 Fibo. level (Optimal trading level) and some other reason that can pull the price down. On the other side, The momentum of this correction was high that it may cause the...
Wti-Oil is another pretty simple setup with a continuous bullish movement up to the nearest supply, we may see a breakdown from that zone but of course if we don't see a breakdown we will look towards the new bullish range that would of been created to make another move higher... from open iam looking for price to drop down giving us a reason for a shift higher...
Russia announced they will extend pledged oil cuts through 2023. Saudi Arabia will cut oil output by 500,000 BPD from May Crude ready to extend move next week, possibly above the trendline resistance? Weak USD and strong stocks can certainly help
Crude just made a double bottom and made a massive reversal from last crash. Short term further bullish momentum can be expected!
USOIL may formed falling wedge at daily timeframe If the price breaks the falling wedge, expect to has a pullback then move up to the expected target arround 90 level We need to focus on the top of wedge and observe how the price working. It's a very long trades, hope you guys catch and enjoy profit and have a nice weekend.
WTI has bounced off a key resistance that aligns with the 61.8% Fibonacci. Price could hit our sell entry at 74.077 and break out to the down side to hit our take profit at 72.611 which is an overlap support. It is also worth noting that there is a bearish divergence vs. RSI . Any opinions, news, research, analyses, prices, other information, or links to...
During the last posts, we tracked the last leg of triple three cycle wave ((2)). Our short trades secured us a profit of 3.4% of equity during this month, as per the trades posted. We always reason in terms of Equity Points since we believe it helps in reasoning in terms of risk managment. We anticipated that, when this corrective move will be finished, a big...
I have a nice 2% risk here so my loss wouldn't be felt, judging by the forecast I have on Oil this seems like the optimum time.
WTI has bounced off a key resistance that aligns with the 61.8% Fibonacci. Price could hit our sell entry at 74.077 and break out to the down side to hit our take profit at 72.611 which is an overlap support. It is also worth noting that there is a bearish divergence vs. RSI. Any opinions, news, research, analyses, prices, other information, or links to...
My dear followers, This is my opinion on the USOIL next move: The price is coiling around a solid key level - 74.0. Bias - Bearish. Technical Indicators: Pivot Points (High/Low) anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Target - 71.6 Recommended Stop Loss - 75.0 On the subsequent day,...
Price is approaching a key support level and potentially reverse, we could see the momentum carry price up to its take profit target. Entry: 71.295 Why we like it: There is an intermediate support that aligns with the 61.8% Fibonacci retracement Stop Loss: 66.938 Why we like it: There is an overlap support Take Profit: 74.094 Why we like it: There is an...
Looking at the H4 chart, the price is approaching our buy entry area at 71.464, which is an overlap support that aligns with the 38.2% Fibonacci retracement . If the price were to reverse, it could move up to our take profit at 74.077 which is an overlap resistance. Stop loss is at 66.986 which is an overlap support. Any opinions, news, research, analyses,...
The WTI Crude Oil is being currently rejected on the 4H MA200 but with 4H technicals naturally bullish still (RSI = 61.154, MACD = 1.320, ADX = 61.771). This is due to the strong 9 day rally since the price made a bottom on the LL trendline of the Channel Down of December. The 4H RSI also got rejected on the 70.000 overbought level and 5 times out of 6 within...
Analysis USOIL : Given the break of the fake bottom and the weakness in the downtrend, I expect the price to grow to the set level. . . price: 69.30 sl: 66.30 tp: 72.00 tp2: 74.00 . . 👤 Alireza hajighasem : @alirezahajighasem . . 📅 3/22/2023