Hi Oil Traders, This is our master plan to Rob Crude oil Barrels. Guys U can enter to Rob this oil at entry level i have mentioned or place your sell stop below my entry level this is our master plan. Our target is Trap area.
Crude Oil Wti: Bullish -GARTLEY possible This possible Gartley would raise the price of oil to $85-93-109-116 as shown on my chart! On the downside - we could go down to 77-70 -67 -61$ To monitor : -exponential moving averages -as well as the Ichimoku and Fibonacci levels Warning: We are currently at 27.2 Fibonacci, and we could go back to 38.2 then 50%...
In the H4 timeframe, US Crude Oil prices started the week with a bearish candle, contrasting with the strong gains seen in the previous week. This bearish sentiment seems to be influenced by multiple factors, including technical indicators such as the 61.8% Fibonacci level and overbought stochastic conditions, particularly around the $81.50 mark. The recent...
West Texas Intermediate crude oil regained a bullish momentum and managed to establish a new high at $81.58, which marks the highest value in over four months. Additionally, RSI, MACD, and Stochastic all moved higher on the daily chart. These developments are positive for oil and bolster a bullish case in the short term and medium term. However, while it is...
Crude oil is currently facing resistance on a 1-hour time frame. We've established an upper and lower zone for trading. On the weekly candle from last week, the price closed above the previous week's level, which indicates a possible uptrend towards higher levels around 83. If there is a significant gap in the price on Sunday, we should watch for how the...
West Texas Intermediate crude oil continues to trade within the upward-sloping channel. However, its bullish trend remains weak, as reflected in the relatively low (but growing) value of ADX (on the daily time frame). In the past two trading sessions, the daily RSI continued to flatten, Stochastic turned lower, and MACD performed a bearish crossover while staying...
My bias all week has been for oil to trade to the PWH. So far, I've been given no trigger to get involved. However, end of NY session saw H4 candle bullish closing disrespecting bearish arrays. I want to see these levels respected as bullish arrays to then look for m15 bullish displacement long entry.
Crude oil appears to be heading towards the PWH. I would like to see the H4 chart pullback and respect discount bullish arrays to then hunt a m15 bullish displacement to get long.
Due to delays in production cuts by OPEC countries. Oil experienced a slight decline, but some Arab countries decided to reduce production. So oil formed some support after a brief decline. As a resource product. To a certain extent, supply is also lower than demand, and the other is the promotion of geopolitics, so the operation is still based on buying at low...
Upon examining the WTI (West Texas Intermediate) crude oil chart, we observe a robust bullish trend, accompanied by a retracement to the 78.6% Fibonacci level. This significant pullback warrants attention, as price action appears poised for a deeper correction. In our analysis, we consider historical price swings, taking into account seasonality patterns from...
Yesterday, OPEC and its allies announced plans to extend a voluntary oil production cut of 2.2 million barrels per day through June 2024. Currently, the USOIL trades near $80.20 per barrel, and its structure is undergoing a significant change. Since late November 2023, the USOIL has traded predominantly sideways between $70 and $80 per barrel. However, last week,...
Oil (USOIL) is trading within a Channel Up pattern since the December 13 2023 market bottom and currently is on the 3rd Bullish Leg towards the top (Higher Highs trend-line). This indicates that on a R/R basis, there is greater incentive selling with the price being closer to the pattern's top than the bottom (Higher Lows trend-line). As a result we are bearish,...
In yesterday’s article I shared with you my ideas for scenarios regarding oil movements. But what has happened recently with oil stocks? What movements can we expect in the case of the XOI in the near future? The answers to these questions appeared in yesterday's Oil Trading Alert. Today, I also share them with you. Have a nice read. The first thing that catches...
if you had the intention of buying an oil or gasoline car in the following years, think again. The price of oil will skyrocket. Chart show's the possibilty of the cup and handle pattern and the target.
Hello Traders! I see a good opportunity to execute a short trade on WTI H1. I expect the BOSS at the price of 77.80 to be taken, and in case of retracement, I will look for a short trade entry. Traders, if my proposal resonates with you or if you hold a divergent viewpoint regarding this trade, feel free to share your thoughts in the comments. I welcome the...
Asia market session makes compression price, and the next session when UK session is expecting to manipulate the market. The last session US session is expected market to do the distribution/direction. The price is on the strong supply area waiting for the price to break resistance before or do the rejection on the supply zone.
Defying our expectations, the West Texas Intermediate crude oil rose above $75 and began to form a rectangle pattern between $76.16 and $79.25 (following a breakdown of negotiations between Israel and Hamas). Currently, the USOIL is trading near the lower bound of this range, which also coincides with the 20-day SMA that acts as an alternative support level. On...
Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $78.00 on Friday. WTI prices edge higher as the EIA Crude Oil stockpiles report came in just below forecasts and the geopolitical tensions in the Middle East remain uncertain. Crude oil inventory increased by 3.514 million barrels for the week ending February 16 from the previous...