Because the market is vigilant about frequent and more substantial interest rate increases by the Federal Reserve, concerns about the global recession have increased, and the global stock market has generally weakened, which has dragged down oil prices. On the daily chart, oil prices continued to weaken in the short term, and fell back after the rebound in the...
Crude oil was suppressed by fundamentals and high pressure. Yesterday, the daily line fell all the way, and finally the daily line closed the negative line. Crude oil currently continues to maintain a wide range of oscillations on the daily line. The 4-hour level trend is also after a continuous decline. The current deviation rate is slightly too large, and the...
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...
After analyzing the 4-hour chart of crude oil, it is found that yesterday's market first fell and then rose, rebounding after reaching support near 78. In the short term, it has broken through resistance at 79 and 80 and now support has formed around 78 and 79. If there is a substantial breakthrough and stabilization around 81.5, there is a high probability of...
Oil spot is looking promising for a short term buy into a short position at the top of the range. ill be looking for a impulse and continuation pattern to get involved long, whereas the short position will need a strong rejection and break down. Risk management and patience are king!
Although the Oil might need a little persuasion, we're expecting the course to drop below the support line at $70.08 to continue with the downwards slope of the blue wave within the green target zone. Once completed, the blue wave should pump the course back up, before it ultimately hits the corrective low of the green wave .
This is a follow-up video to last week's analysis as we were able to scoop over 1,200 pips profit (see link below for reference purposes). Thursday's data showed that U.S. CPI inflation eased in December 2022 and this data appears to be firing a bullish momentum as risk appetite for the Oil appears to have been bolstered. Last week's trading session witnessed a...
The commodity just broke its major support trend line, additionally the formation of lower high and divergence support an upcoming bearish rally.
The prices of US Oil witnessed an unstable swing in 2022; climbing on tight supplies amid the war in Ukraine, then rapidly sliding during the later part of the year on weaker demand from top importer - China and worries of an economic contraction, but closed the year on Friday with a second straight annual gain a little above the $80 (as against $75 in 2021). This...
The security shows continuation of it's bearish trend after a sharp bounce from its bearish trend line. Sellers can seek the opportunity to sell on the dip till the next respected trend-line support of 67.7. (please note: the energy is formed a falling wedge pattern and might change its trend into bullish, so be mindful).
After breaking of an ascending wedge pattern, the prices are likely to remain bearish until the projected price of 77.23.
Hello Traders WTI USD CFD Forexcom. Trend Analysis: Downward Formation : Double Tops (AE) Possibility : Bearish Continuation Probability to hit tragedy: 69.00% Trade Plan. Long / Buy Trade. Entry Level on the break of the Pattern NECK line at FIB support blue line @ 7580.0 Take Profit @ Pattern Projection @ 6433.0 Stop Loss @ Daily Support Level...
The current chart pattern show confluence of: -Dow Theory (higher low) -Bullish engulfing pattern -Bounce back from C retracement in ABCD harmonics (0.46 fib retracement level)
Crude Oil benchmark WTI broke its previous established support at 81.75 and continued its downtrend through Wednesday after G7 talk for implementing a price cap on Russian supply. The mark cap of 65-70 USD per barrel was higher than the market expected, which elevate some of the fears of supply distribution of the oil. Another positive news for the global oil...
West Texas Crude Oil shows strong bounce back from 0.46 fib retracement levels, and a possible formation of C-retracement pattern of the bearish ABCD harmonics. Buyers are advised to wait for the formation of first higher low and long.
WTIUSD Breaks Resistance Level. With the Confluence of Candlesticks Formation and SnR Lines. We'll took entry on Resistance 1 as morning doji star on major support level. HAPPY TRADING FOLKS!
Double Top pattern formed and I think it will retest the resistance in the 90-91.7 area where the smart money waiting there to dump it
Hello Traders we have analysed gold and we have seen two movements either it will go up from here from the level of 1763 or it will go down from 1767 to 1752 then went up till 1792