Macro PVVM Analysis: The Macro PVVM score provides us with an understanding of the long-term trend of the asset. On 7/10/2023, the Macro PVVM was at -9, indicating a slightly bearish sentiment in the long-term. However, by 7/20/2023, it had climbed to 60, suggesting a notable strengthening of the bullish trend. Considering the range of the Macro PVVM (-150 to...
Commodities were broadly lower yesterday with the CRB index falling to a 4-day low. Geopolitical tensions are rising following Russia’s decision to back out of a key grain deal which allowed Ukraine to export grain through the Black Sea. Weak data from China and news that Libya will restart oil production also saw WTI fall for a second day. What has caught our...
the sideways area has been successfully passed, there is a possibility that the price will retrace to the support area and resume the bullish trend again with the nearest target at $77.
20 to 30 pip tp touch or break level in 5 or 15 min after inter to trade
inter to trade 72.40 to 72.45 tp1.72.60 tp2 72.60 tp3 73
The bulls are in but this could prove to see a lower price in time.
trade scalp on wti tp 20 to 30 pip and after 20pip risk free no stop but You just have to follow the capital management You will enter one tenth of the capital Consider the spread
If this elliot notation is correct, then the oil price may rise in the next few weeks, it could be the beginning of a long bullish trend.
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.
On July 4, 2023, the US Oil (USOIL) commodity was observed on TradingView using a 5-minute time frame. USOIL is a popular instrument for traders and investors to speculate on the price movements of oil. The 5-minute time frame allows for a more granular analysis of price action, enabling traders to capture short-term opportunities and make informed trading...
In crude oil trading today, we made good profits in the trading strategy of shorting crude oil in the 70.6-70.8 area twice. Judging from the current structural trend, crude oil will maintain range shocks in the short term, and fundamentally still maintain a short position. Although the inventory data has declined for two consecutive weeks, the pressure on the...
WTI Crude Oil is approaching the MA50 (1d) again, the 3rd time this month and fourth since May 24th. All tests have resulted in rejections and another one may confirm the emergence of a Channel Down. A closing above it though, targets the MA100 (1d). Trading Plan: 1. Sell near the MA50 (1d). 2. Buy if we close a candle above it. Targets: 1. 67.15 (previous...
WTI crude posted a strong rally from the $67 support level thanks to another strong drawdown of crude inventories. The fact it rallied over 3% despite the stronger US dollar and hawkish comments from Powell makes us wonder if it could have broken above $70 were the dollar not to dominate FX majors on Wednesday. Still, prices are trading within a range between $67...
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.
#USOIL... Market is in 5 points range from last 3 months ... If it is still in range then 69.95 is our resistence area .. Keep close it , if market hold it than drop expected from here .. Otherwise upside areas are mentioned on chart .. Trade wisely Good luck
Crude oil is cheap again. It bounced from this support previously, looking at the daily chart. Traders await the FED policy meeting and new interest rate announcement. They should pause the hikes for the foreseeable future. Targeting $71+ and $74+.
Today's focus: Oil Pattern – Descending Triangle Possible targets – 64.06 73.22 Support – 67.05 Resistance – 72.22 74.15 Hi, and thanks for looking at today’s update. Our attention is on oil after yesterday’s sharp selling took price back to key support. This level has held firm for buyers, but could this be the fourth time lucky for sellers? So far, production...
Look for BREAK OUT either side. Right now its on support level and possible REBOUND .