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.
Fundamentals: On Tuesday (March 7), international oil prices tended to fluctuate.Previously, the UAE's withdrawal from the Organization of Petroleum Exporting Countries was proved to be untrue, and there was a need for technical correction after the surge in oil prices.And cautious investors are waiting for Fed Chairman Powell's upcoming testimony later this...
Over the past two weeks, international oil prices have continued to fluctuate upwards, despite the negative signals from changes in US crude oil inventories and little impact on Russian crude oil exports from sanctions. However, these pressures have been unable to overshadow the positive impact of China's economic recovery and resilient risk appetite on oil...
US YoY CPI came above expectations yesterday, which led to expectations of further push of the prices. Although US Oil cushion reserve came above expectations, OPEC reported declined production of the month of January, and the expectations are for further increase of global demand for the crude oil. On the 1H graph the price had broke the resistance of the Flag...
Simple 1+1 equals 2. There's a couple factors here. 1) Long-term support since March 2023 kept with multiple re-tests. 2) Long-term 8 month wedge consolidation with recent Jan 2023 breakout up together with RETEST of that breakout at 74.80-75.20 as of today. If the week closes above this support, VERY high chance for continuation of breakout up and 80's-90's...
Hello Last week's price broke the level of consolidation at 81.44, so let's see if 77.76 will hold or if it will drop to 71. Share your thoughts My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all
Let's look to Wti. It moved up in the past weeks. But I think that trend is weakening and downside movement is possible soon. Because, Crude Oil is reaching to strong level - 83.83! What should we do in this case? 1. Place sell stop order at 81.52 2. First target is 76.98 3. Second target is 73.16 4. Stop Loss is necessary at 83.50 But if it will continue...
Hi dear traders. WTI (Crude OIL) created nice trend channel started from 73.37. Upper border of the channel is 75.60. Although, oil prices is moving between these prices from 16 December, as soon as it will jump to 77.55 level. This is my private opinion and this is good opportunity for buyers. Signal characteristics: WTI will move down firstly, then possibly...
I've done a full blown video on the analysis of this trade see my idea links below and the ideas behind the pin bar reversal price action training chart (how to enter the trade). We're in a downtrend so this possible reversal so i recommend a smaller risk trade, Beginners - Take profits on the way up after taking T1, move T1 and T2 your stops to zero (No...
The USA is in a political battle over the price of oil with OPEC and right now they are winning, but how low can they go? Not too much lower actually, they need to start buying again to ensure their strategic reserves remain useful and not at risk of dropping below the requried levels to support the country in times of emergency. OPEC $64 - To ensure OPEC break...
Rising US crude exports, indicator for increased demand, and weakening of the dollar helped for a price surge of WTI, which broke and close above the 12 days formed resistance on the 4H graph. The technical indicators are also suggesting a bullish movement, with MACD histogram above 0 line and rising and RSI above 50 neutral line. If this movement continues,...
WTI is ready to start another bullish move after break bearish trend line. This zone is cluster of 0.786% fibo ret, 100% exp and 200% ext. Trade safe guys. Good luck.
Good day everyone! Don't forget to put your thumbs up and write comment if you like the idea 📈 #WTI (Texas Oil) Oil on the D1 timeframe forms a reversal pattern "H&S" after the formation of the right shoulder of the figure and the breakdown of the resistance neck line, I will consider Long with targets of $100 per barrel DISCLAIMER: The opinion of the author...
WTI increased in value in the start of today's Asia session, following a weakened US dollar and the news that China is easing the COVID lockdowns, which will most likely boost the economy of the second largest energy consumer. On the technical site, the instrument broke the resistance of the triangle pattern, MACD histogram is above 0 line and RSI indicator is...
8th September daily key reversal bar, made a new low closed in the middle. 9th September daily insurance bar indication for strength ahead. high probability for long opportunity from demand zone as 82.40-20 with half risk, may use remaining half% risk from 81.30, stop loss 80.50, target: 88.50
WTI rose in value in response of potential OPEC+ cuts and conflict in Libya. This possibility of supply cuts was enough to offset the effect of the strong US dollar. WTI broke the resistance line of the ascending triangle pattern, a bullish outlook, supported as well by the RSI and MACD indicators. The instrument might test its previous support level at 99.70,...
Considering the fact that Russian oil exports are not decreasing and Saudi Arabia is not agreeing to lower the price of oil, I expect the price to rise