The crude oil market fell for a second straight week on renewed signs of weak demand after the premium over the risk of the Palestinian-Israeli conflict faded. However, weak data from the U.S. employment report supported market speculation that the Federal Reserve may stop raising interest rates, which provided some support for oil prices. Saudi Arabia's...
Oil, after breaking the support of the trend line, attempted a comeback and retested the former support line that turned into resistance, from where the sellers managed to defend the price and thus it seems that we only had a discount for a new sell. Now the price is in an interesting neckline and I, personally, am only looking for a short.
WTI - Intraday The AB=CD formation target is located at 70.19. Reverse trend line resistance comes in at 83.91. Bespoke resistance is located at 84.06. Preferred trade is to sell into rallies. The medium term bias remains bearish. We look to Sell at 84.00 (stop at 85.50) Our profit targets will be 80.20 and 79.60 Resistance: 83.91 / 84.06 /...
The rebound of crude oil has strengthened again, and the 80.8 support node has begun to rebound. The current increase has reached 82.8, correcting yesterday's unilateral downward trend. However, if the current rise in crude oil cannot break this week's high of 85, it will be more likely to fall to a new low. The daily MA5 moving average and MA10 moving average...
In this video, we conduct a comprehensive analysis of USOil WTI, with a specific emphasis on the prevailing bearish sentiment evident on the weekly (1W) chart. Throughout this presentation, we delve into fundamental principles of technical analysis, encompassing critical elements such as the current market trend, price dynamics, market structure, and other...
Crude oil has experienced two consecutive weeks of range-bound volatility. Attempts to break above resistance failed. The shortage of crude oil in the market is also constantly easing, limiting the upward range of oil prices and reducing investors' willingness to chase increases. The current low inventory situation will also limit the room for correction of oil...
Two scenarios. One Long. One Short. Fundamentals: - Scenario 1 (Orange arrow) Target: Next resistance level (upper red rectangle ). Recent swing top. Requirments: - Monthly close above the orange rectangle. - Higher swings above it Invalidation / SL: - Fall under orange rectangle AND generating lower swings. Time duration: days, weeks,...
WTI Crude Oil formed a double bottom formation after a test of a solid rising trend line on a daily. Its neckline was broken this week. The broken neckline and a trend line compose a contracting demand zone now. A bullish continuation will be expected to 93.7 level from that. ❤️Please, support my work with like, thank you!❤️
hello friends as i can see oil has filled the last week market opening gaps and continues to up trend Israeli & palatine war had changed the USOIL moves so fundamentally + technically chart is show us more upside moves till the drawn levels please share ur ideas and thoughts about usoil stay tuned for more updates
Market analysis The supply and demand of crude oil has increased but the risk of the Palestinian-Israeli conflict has not diminished. At present, oil transportation in the Middle East has not really been affected by this conflict, which is why oil prices have been experiencing corrections. Without further escalation in the Israeli-Palestinian conflict, crude oil...
H1 - Bearish trend pattern. Currently it looks like a correction is happening. Until the two strong resistance zones hold my short term view remains bearish here.
A few weeks ago, we expressed our bewilderment at the U.S. administration and its handling of the oil stockpiles. Despite oil plummeting below $70 during the summer, officials did not take the initiative to refill the Strategic Petroleum Reserves (also canceling plans to buy oil in July 2023), prompting us to speculate about what trick the administration could...
The U.S. Department of Energy abandoned its original position and relaunched the Strategic Reserve Replenishment Program. Oil prices have been falling. However, the conflict in the Middle East has a greater impact on the fluctuation of oil prices. Once the conflict escalates further, the price of crude oil will exceed 100. The short-term trend of crude oil was...
We saw the pullback into the support area we were waiting for, around the 200-dar EMA on the 4hour chart and weekly pivot point. A bullish engulfing candle also formed at the end of the session, and whilst prices have gapped lower at the open, we're now looking to enter long and target the resistance zone around $90.
wti is near the range low and has already bounced the monthly level and VAL liquidity still rests below this low and if the bullish market structure holds above $66 we should see a push back into the $100s
In this video, we conduct a comprehensive analysis of the USOIL market, with a primary focus on the prevailing bearish sentiment observed in higher timeframes. Notably, WTI has recently approached a critical support level. Throughout the video, we delve into essential elements of technical analysis, which encompass aspects such as the current trend, price action...
The conflict escalation target is looking towards 95. The short-term (1H) trend of crude oil fell to the 85.50 support, and continued to rebound and hit new prices. The short-term subjective and objective trends consistently maintain an upward rhythm. Crude oil is expected to continue rising during the day. If the conflict in the Middle East escalates again...
Crude oil targets resistance at $88. The important level after that is $90, which is a resistance level that the market needs to break. The prevailing sentiment suggests that it is only a matter of time before the market rises to these levels. Crude oil also found support from the 50-day moving average below, which acted as a stabilizing force. Additionally,...