As the price broke above the downtrend and retested with a Hummer candle
ITS A Trap Sell it Around 89 will See Again 85 and 80 in weeks
Following our break-out buy signal last week, the WTI Oil (USOIL) has entered a Resistance Zone, which since the start of August has rejected the price every time with the temporary exception of 1 day (29-30 Aug): Eventually the Channel Down turned out to be wider. The price is now pulling back since hitting the August Resistance Zone and the 4H RSI has been...
WTI has been one of the few markets to stand up to recent dollar strength, with prices rising over 16% last week alone. A strong bullish trend has developed on the 1-hour WTI chart. The 20 and 50-bar EMA’s have provided dynamic support throughout the trend and may provide bullish opportunities with a pullback towards them. The 20-bar EMA is near the daily pivot...
Hello Traders This week oil price jumped almost +12.5$ from the opening price on Monday and ended in a big green weekly candle. 2 major factors affected Oil prices: 1- OPEC has reduced its production limit. 2- Cold seasons started in Europe and demand for energies such as oil has soared. Technically: 1- Price has broken a falling wedge pattern. 2- Price has...
oil has been on a tear despite dollar strength right now theres some things going on with opec and siding with russia that may be pushing it up since they rasied the prices on usa either way this bad boy not stopping if we get a close above this level we pushing towards that 96$ handle soon
The WTI OIL (CL1! used on this analysis), broke today above the Internal Lower Highs trend-line that started on the last Lower High (August 30) of the long-term Channel Down pattern. By doing so, the price turned the 4H MA50 (blue trend-line) into a Support and technically targets the 4H MA200 (orange trend-line) as it did on September 14. At the same time, it...
Taking a look at WTI USOil at the moment. In the video we discussed key levels of support and resistance, the trend, and potential trade opportunity. As always everything explain in the video, not financial advice.
WTI recovered some of its loses yesterday after expectations of supply slow-down due to the hurricane in the Gulf of Mexico. But the continuous straightening of the US dollar and the expectations of continuing slow-down of Chinese economy might decrease the demand of crude oil. This will probably put further pressure on the crude oil price. Bearish traders might...
The ideal target for the end of the downward movement would be around the 50 retracement. Subsequently, the U.S. oil brand should rise again significantly. Whether the last high is cracked, or whether only a larger correction sets in here, we will have to wait and see.
Last week, our short-term price target of 80 USD was reached. Because of that, we would like to reiterate that we remain bearish on USOIL. In addition to that, we maintain our long-term price target of 70 USD. Illustration 1.01 Illustration 1.01 shows the similarity between the oil price pattern in 2008 and now. Technical analysis - daily time frame RSI,...
In my previous Wti Oil analysis, I draw attention to the possibility of a double top formed above 120 with the neckline at the 92 zone. Oil has dropped under this support and confirmed this zone as new resistance. At this moment the price is also under 85 support and the road looks clear for continuation. The next obvious level of support is around 65 and as long...
BLACKBULL:WTI Hello folks!!!, This is my analysis brought to you after deeply analyzing the Curde Oil WTI from a technical, trend and fundamental perspective: Pivot point : 88.78 Stop loss : 92.28 Take profit : 73.28 Entry Price : 86.40 Risk/Reward Ratio : 1 : 2.32 If this post was useful to you, do not forget to like and comment.❤️ Trade Safely, Best...
On a weekly basis, we have witnessed how the price of oil fell for a fourth straight week to incite a risk of a further decline in price action in the coming week. However, I won't be jumping to conclusions considering the current structure as we need to look out for significant signals that will guide our actions during the new week. withRisk Disclaimer: Margin...
WTI remains indecisive. On one hand traders are suspecting continuous increase of the interest rates, after Fed decision in Wednesday. On the other hand, the further escalation by Russia of the war in Ukraine and the thread by the Nigerian oil minister Timipre Marlin Sylva that OPEC+ will decrease production if prices keep falling, are creating fear of tightened...
The WTI Crude Oil (USOIL) has been trading within a structured Channel Down pattern since the March 08 market High, following the immense growth after the COVID 2020 demand crisis. We have covered the Higher Lows zones since the November 02 2020 Low (green circle) and the March 23 2021 Low (blue circle) extensively over the past months on the higher time-frames,...
OIL showed one more bos, and now we have a new price expansion to the downside. Please check the linked ideas for better context. 📉 Text marks: 🔹 IL = impulse leg. Inside of IL we can usually see inside structure, which is secondary in nature, like a market noise, unless you trade it on LTF, as it’s own IL. 🔹 ph, pl = protected high or low, which holds current...