The overall trend of crude oil bottomed out yesterday and rebounded. The MA5 position of the weekly line fell back and rebounded, and the middle track of the daily line did not break below. This shows that the market is still strong. In addition, the conflict between Iran and Israel will boost crude oil, so it is good to be bullish. After all, the current...
Hello Everyone,
Despite being below the 1D/1W PP, Brent appears to be a promising buy. Both the weekly and daily support levels are showing resilience. However, if these support levels falter, there's a possibility of revisiting the monthly support.
TradeWithTheTrend3344
Hi Realistic Traders, let's discuss the latest surge in WTI Crude Oil Price
Why have Oil prices surged?
In the second quarter of 2024, Russia plans to cut its crude oil production in line with OPEC+ agreements, gradually reducing output each month from April to June. This decision follows earlier cuts made in April 2023 and March 2024, with export reductions...
WTI oil (XTI/USD) is trading close to the pivot which has been identified as a pullback support. Could this commodity find support around this level before potentially reversing to rise towards the 1st resistance?
Pivot: 85.57
1st Support: 83.22
1st Resistance: 90.40
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you...
USOIL:
Small-level indicators are beneficial to bulls, with resistance around 85.8-86.5. Trading is long first and then short, and the short target is 84.8-84.
If the bulls are strong and break through 86.2-86.5, the top range of 86.9-87.5 will be considered.
Oil investors piled into the options market days before Iran launched its attack on Israel and traded a record amount of contracts that profit from higher prices. Just over 1 million calls on the global Brent crude benchmark traded last week, surpassing a previous record, according to data compiled by Bloomberg. The volumes were focused on contracts at $95 and...
Brent Oil Price Did Not Rise Despite Iran's Attack on Israel
As you know, Iran launched a missile attack on Israel over the weekend. This could greatly increase the price of Brent oil, given that Iran is one of the top 10 oil producing countries, and the fact of the strike could provoke further escalation in the region.
However, at the beginning of the trading...
USOIL prices have been on an upward trend in recent weeks, driven by supply concerns and geopolitical tensions in the Middle East. The price has approached a key resistance trendline area, where a breakout or pullback could occur.
If the price breaks above the resistance trendline area, it could signal a continuation of the uptrend, with potential targets at...
Brent Crude Oil
I called for a potential base on 07 December.
On the chart is also my proof of the call.
The commodity has advanced from $75 to the recent high of $92.
Overview:
We’re observing a bullish setup on TVC:USOIL , as price action suggests a strong reaction at critical support levels, indicating potential upside movement.
Key Observations:
The 1-hour chart presents a descent into a key support zone marked by an FVG (Fair Value Gap) around $85.40. The market response here will be crucial to validate our bullish...
#USOIL.. war season is going on.
And oil is at his support of the current month and week.
That is 85.20 around
Keep close that supporting area, if market hold it then all ok but in any scnerio market break that support then a gradually drop expected otherwise not..
Good luck
Trade wisely
Hello Traders
In This Chart XTIUSD HOURLY Forex Forecast By FOREX PLANET
today XTIUSD analysis 👆
🟢This Chart includes_ (XTIUSD market update)
🟢What is The Next Opportunity on XTIUSD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To...
OILUSD is an uptrend channel and the next target is at area 90-95 which is the neckline of the double bottom pattern forming and a break above this level will confirm its bullish movement to the previous high at 130 level and to the longer target at the upper range of the channel at 150-160.
Based on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
Looking at the daily chart of crude oil, it tested support near 80.7 at the beginning of the week and then strengthened. It can be seen that the support below the 80.3 mark is very strong. At present, crude oil has stood firmly above 83, and the trend is still strong. It is expected to continue in the future. On the upside, the upper resistance is near the 86...
A glimpse of the BCOUSD in the first half of 2024
Stay with me to get more analysis after following me by sharing with friends and leaving a comment.
According to my risk and capital management system, the risk of each trade is one percent per position.
What do you think about this analysis and other analyses?
What symbol would you like me to analyze for you?
