Whilst we retain our view that oil prices could be headed for $100 further out, the trend seems to have hit a speed bump over the near-term. WTI broke above $90 with ease yet faltered around $95 with a shooting car candle with high volume (which makes it a potential key reversal day). A bearish divergence has also formed with the RSI (2) after it reached...
looking for a deeper correction by 2024 , then new record highs .
hello everyone, the USoil has become bullish with usd being weak (dxy trading below 100)... the price can reach the main resistance 84 and it's the strongest resistance (highlighted in red), it can either pull back or break it to next resistance level of 92. But lets see in the following weeks, dxy ended up strong end of last week.. look for a break out before...
The supply side of the global oil market continues to reduce production, and oil prices will continue to rise in the short term. Russia's fuel export ban announced last week has raised supply concerns and demand woes from future interest rate hikes. In the current context of the crude oil market, what needs attention is that once the Federal Reserve misjudges...
Through the analysis of the hourly chart of crude oil, we know that the last trading day first rose, then fell and then rose again, forming a narrow concussion trend. Since crude oil rose from highs and fell back, it has been in the midst of a concussive adjustment. Last Friday, it was said that an adjustment is imminent. Once the heavy volume breaks through and...
The month of September came with a very important break for WTI Oil, the rise above 85 figure, a price that kept WTI in a range since December last year. As was usually the case, after the break, the price accelerated to the upside and to the next important 92.50-93.00 zone resistance. Looking at the posted chart we can see that since July, the trend for Oil is...
The supply side of the global oil market continues to reduce production, and oil prices continue to rise in the short term. A ban on fuel exports announced in Russia last week raised supply concerns and demand woes from future interest rate hikes. In the current context of the crude oil market, we need to pay attention to the fact that once the Federal Reserve...
Crude oil - wave count Crude appears bullish and may have begun its third wave. Remember that if the price drops below the red line, it is considered invalid. This information is for educational purposes only, so trade with caution. MCX:CRUDEOIL1! NYMEX:CL1! TVC:USOIL CAPITALCOM:OIL_CRUDE FX:USOILSPOT
Oil prices fell back below the 10-day moving average, but the market is still bullish. The main reasons for the fall in crude oil prices may include the fact that the Saudi energy minister defended the production cut and claimed that extending the production cut was not to push up oil prices; the Federal Reserve kept interest rates unchanged. If the support...
WTI Oil Prices Face Selling Pressure as Fed's Hawkish Stance Dominates Western Texas Intermediate (WTI) crude oil prices are grappling with selling pressure, hovering around the $88.80 mark. The Federal Reserve's recent meeting and its hawkish stance have cast a shadow over oil prices, complicating the outlook for the energy market. Here are the key factors...
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.