On a today's live stream, we discussed WTI Oil. The price is currently taking off from a solid horizontal support. As a confirmation, the market formed an inverted h&s pattern. Its neckline has just been broken. I expect a pullback at least to 90.6 level now. ❤️Please, support my work with like, thank you!❤️
US Oil has a very strong bullish, by always forming new high. If at the end of this clock, a bullish candle is formed which is quite thick, it is likely that the price will continue to the right price of 91 in the Fibo extension area of 0.786 and contact with the channel line. We see again how the market reaction in the price area.
Crude oil reached the 88 point three times yesterday and then fell back to today's opening point of 87.27. But support continues to rise. In my post yesterday, I talked about how crude oil will continue to try to break through 88 and then drop to range trading. Everything is as per my analysis. We have mentioned too many times regarding the macro data of crude...
Crude oil prices rose to a nine-month high after Saudi Arabia and Russia extended notices of voluntary supply reductions until the end of the year. After hitting a high of 88, crude oil fell into a high and volatile situation. It has tested the suppression of the 88 line three times. With the high point clearly suppressed, the bulls encountered resistance when...
After a high level of crude oil, the crude oil has fallen into a high shock situation. At present, the suppression of the 87.5550 front line has been tested three times. After the end of the end of the week was unsuccessful, it fell again. The current price is near 86.30. In the case of significant suppression of high points, the long -headed rise encountered...
The movement of US oil has been very bullish in recent months, it seems to be seen to be peak for a few moments ahead. If you look at the Elliot Wave series that occurs, Wave 5 is likely to end. If you want to Short, it's better to wait for prices to fall to the reversal and retrace areas.
Several clearly defined levels on weekly & daily charts that I'll be watching for trade setups at.
Crude oil prices have been rising in recent days after the announcement of production cuts. The highest breakthrough was the 88 resistance level. The rising situation at this stage has reached a bottleneck stage. We need to pay attention to shock adjustments in the future. We need to focus on the 85-85.8 support level below, and the 87.5-88 resistance level above.
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Mid-term trend of crude oil: After the correction in August, oil prices still did not stop the rise in oil prices. Saudi Arabia and Russia announced crude oil production cuts in July 2023, originally scheduled for a one-month period, and the latter two extended the additional production cuts twice to the end of September, and this time, another extension by the...
The current global economic outlook makes many bullish investors apprehensive, but there are two factors that will cause bullish investors not to change their minds. 1. The United States has reduced the number of drilling rigs for nine consecutive months, and Saudi Arabia may extend its production cut plan, which will lead to a constant shortage of crude oil....
WTI has been steadily appreciating in price since May 2020 with the peak being reached on 08-Mar-2022 at $129.42/bbl. Price swept the critical highs of $114.8/bbl twice then retracted into its current range. My previous write up on the asset was bullish with continued upside potential up to $140$. Before it got there I was expecting a sweep below the range low at...
This week's US oil price movement is so constant. Bullish signal is very strong. The closure of this week finally forms a new high structure. If at this time the price leads to Wave 5, then there are several extension fibo targets that we can pay attention to. Possible prices to move to fibo extension 0.786 in the price range of 92
Wait and see mode for me on WTI. Lots of potential trades to watch for, just have to be patient.
Good day, traders. Today, we'll be looking at WTI crude oil. I anticipate a break of the 80.80 prior high and a return to the 80 zone, after which we will seek for bullish confirmations to place a buy order. Keep in mind: No confirmation, no admission. ❤️Please, support my work with like, thank you!❤️
The trend of crude oil will continue to fall, and the previous trend is very dangerous and distorted. Shorting is currently feasible around 83.5. The current trend chart is running downward and upward slowly, which is a signal to seize the opportunity. Target 80.5
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
After reaching nearly $85 per barrel three days ago, USOIL drifted lower with the global stock market. In the process, it retraced to its 20-day SMA, which acts as a significant support level. Furthermore, RSI, MACD, and Stochastic started to reverse and point to the downside on the daily chart. This bearish development could coincide with a short-term trend...