we found out that a trendline has been holding usoil from not heading higher that why we saw the stall around the trendline for now we are still on a 50/50 bias
WTI is currently sitting at below 0.5 FIB level on a weekly data -- a key area where most buyers converge.
$65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range.
A bounce is expected from current price range. Accumulation has notably started increasing at the present levels.
Spotted at...
Oil prices have once again surged, reaching nearly $88.00 per barrel, despite a recent minor decline. This uptick in prices is occurring amidst a backdrop of geopolitical tensions and a strengthening US Dollar. However, amidst this volatility, it's essential to dissect the various factors influencing oil prices, from geopolitical unrest to economic forecasts and...
On Friday, during the European trading session, WTI crude oil prices fell slightly. WTI crude oil futures experienced modest gains during the Asian session after Israel attacked Iran, initially surging 3% but later giving up most of those gains. The escalation briefly raised concerns about potential supply disruptions, but those concerns faded as the situation...
🛢🔴Oil traders are making big bets amid geopolitical uncertainties! 3 million barrels worth of options contracts were snapped up by speculators, with 3,000 lots of June $250 call options in US crude oil trading for just 1 cent each. Is this a Hail Mary or a well-calculated move?🤔
(Source: www.bloomberg.com).
The headline is very clickable, however let's look at...
We stick to our base case, which we've been tracking since January, the market may experience a significant retracement before resuming its upward trend.
As previously stated, the market appears to have formed a double top with negative divergence against the RSI indicator, and after a modest bounce on Monday, it could fall to everyone's surprise.
BLACKBULL:WTI has been over the 200ma since February 2024 with the uncertainty in the gulf states and a possible blockade oil prices would surge , but this is oil we are talking about , this chart I'm taking the stance of an increase up to $87 usd over the next week as a top price but could surge if events escalate , on the downside there could be a massive pull...
Oil prices are still relatively cheap on the bigger TF's, compared to where they will be in the near future. Currently up 20% from our green supply zone.
Buyers still holding strong. GET INTO LONG TERM OIL POSITIONS NOW!
WTI oil (XTI/USD) has made a bullish breakout through the pivot and momentum could carry it up toward the 1st resistance.
Pivot: 84.86
1st Support: 81.01
1st Resistance: 87.77
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be...
Keep close watch on crude...
Related News
Step To Prevent Crude Rally By US President Joe Biden "will do what he can to ensure affordable gasoline prices, & could release more SPR oil to keep gas prices low, senior White House adviser says"(Reuters)
This is just an idea or my view not a recommendation to go long or Short & a step towards learning chart...
USOIL is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is 50% Fib retracement level and local support as well. if the market successfully sustain this buying confluence the next leg up could go for new HH.
What you guys think of this idea?
As the price hit the last supply block and showing a bullish move we can opt a buy
you can wait and take. a buy in the buy zone. I have already entered near 82.3
The price has a very good potential run towards 86.00
Hello traders.. WTI Crude Oil has been dropping since the beginning of the conflict this past weekend between Iran and Israel. We are trending bullish so far on the year and are up 14%. Price is pulling back this week and we recently touched into a Daily support level 81.25 where we observed a bounce. I dont believe sellers are completely out on this bearish...
another entry on oil has taken form. Price has pushed down significantly down to its entry of the fib level of 88.6. Entering here and have my TP set at its previous higher high.
What is oil going to do.
There is war now
It will play a role
Oil price has already jumped, even before hump day, Thursday
OMG!!!!!
Oil will definitely go up again.
Hello Traders!
I executed a long trade on USOIl as the price was rejected from the supply zone, indicating a weakness of bears. I expect a strong bullish move from this price.
Please LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍ if you enjoy this idea! Also, share your ideas and charts in the comments section below! This is the best way to keep it relevant, support...
ISRL X PLSTNE
Iran has joined the group chat
Iran: 💣 💣 💣
Oil market:🧐
History : 📈 📈 📈 👆🏽👆🏽👆🏽
Im expecting price to drive higher sometime soon from this point of resistance
as market reactions begin to kick in after these shake outs
if this level misses it will be one of the other points below
