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,...
Crude Oil - Elliott Wave Count Based on the current market trends, it appears that there is a bearish sentiment prevailing. As a result, it is likely that we may witness a decline in the value of the asset to 85 or below. It is important to note that we have set our stop loss at today's high, which means that if the price breaks above this level, we will exit the...
Market analysis In the last post, we talked about the US crude oil market maintaining the price of crude oil to a certain extent, but the impact of the conflict in Pakistan on the crude oil market completely covers other market conflicts, and crude oil is bound to rise. Technical analysis After crude oil rose to 88.3, the short side gradually took over the main...
The Israeli-Palestinian conflict supported gains in oil prices, but mail will slowly rise until there is no further conflict. Crude oil was blocked at the 21-day moving average. Secondly, the International Energy Agency (IEA) said last week that oil prices have fallen recently from their highs in late September, reflecting declining demand, especially in the...
The conflict may escalate further, and Iran warned Israel not to expand the situation, otherwise it will join the war. Once Iran joins the war, oil prices will skyrocket. Last week, due to the conflict, oil prices rose to close at 87.72. On Monday today, the opening momentum of oil prices has slowed down. On the one hand, it is due to some profit-taking. On the...
Israel-Hamas Conflict Fuels Uncertainty in Crude Market. Oil prices rise amid Israel-Hamas conflict, with risks of surpassing $100 and potential U.S. sanctions on Iran adding to market volatility. 1. The price closed above the Trend Magic Indicator line. Strong long signal. 2. Vortex will cross and indicates strong uptrend signal. SL - below the Trend Magic...
Hello traders , on daily TF USOIL has formed a double bottom reversal pattern and broke its neckline. and also because the tension in the middle east and the current dollar economic situation we might see a bullish move from the neckline maybe back to the 93 level. trade safe !
Owing to geopolitical tension around the globe, can expect WTI to trade around 90$ during next week. In 15mins chart, we can see the ''W'' recovery pattern. Can expect an upside movement to 90$. If the situation worsens in war, it will move beyond that. Disclaimer : Trade as per your risk level.
Over the last few weeks, the price of oil has experienced a noticeable decline. Upon closer inspection, this trend appears to be the result of a series of corrections from the previously bullish market. Currently, there is speculation surrounding the possibility of Wave (C) occurring, which is being analyzed through the addition of Fibo Expansion. It is predicted...
While it's unclear whether crude, which has experienced large moves recently on account of the developing conflict between Israel-Hamas, wants to trade higher or lower over the longer-term, we’re looking to take near-term longs after filling the downside futures gap formed 10/6. We’re only showing down to a 30-minute chart here, but there are some smaller...
The Palestinian-Israeli conflict has killed more than 1,600 people! Crude oil rose more than 4% and may continue to rise in the future. After the Palestinian-Israeli conflict, it was in a range, with the lowest of 84.6 and the highest of 87.2 that day. The daily line closed at 86.3. From the daily line, oil prices will continue to rise. The top continues to pay...
🛢️ CRUDE Oil! ⛽Price rebounds from $83 to $88 amid Middle East tensions and oil supply threats. 🌍 Geopolitical risks loom large; brace for a potential breakout!
WTI is the focus for this week. Watch the video to understand how, from a higher time frame, like the Weekly chart, we can find tradeable opportunities on the hourly chart.
WTI Crude Snaps Two-Day Slump Amid Shifting Global Dynamics and Weaker USD The West Texas Intermediate (WTI) crude oil benchmark showed signs of resilience, bouncing back from a two-day decline to reach $82.85 per barrel, marking a 0.40% gain. This uptick came as the US Dollar (USD) experienced a retreat, ending its 12-week rally. While robust US job growth...
Oil price has formed a ascending broadening wedge the bottom is possible in. This might be a decent swing with a tight stop loss below the trendline.
On Tuesday, we touched on the subject of corporate forecasts in the oil market portrayed in the media. In fact, we remarked how the recent announcements of ultra-bullish forecasts were very reminiscent of the 2022 oil market top and that we were pretty skeptical about the rally's sustainability (though we warned about this on a different platform three weeks...
This looks like it is poised to head back into a well established $70-$80 range (and then some!). Anticipated long-term USD strength, as well as extended Global economic weakness bodes well for an enduring price weakness outlook. Technically, Crude is at a major pivot, both, at the top of a rising daily channel, as well as at the top of a descending weekly channel...
Quick take/analysis, but consider scooping some low-risk crude contracts here (break above 84.84). Better demand zones are lower, but we've had a sizable downdraft into buy areas + are testing a key support/resistance area (~84-85), so those traders may be at our backs. The US dollar has finally taken a pause at the supply zone we ID’d in posts from earlier this...