Hello,Friends! USOIL pair is in the downtrend because previous week’s candle is red, while the price is evidently rising on the 6H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 67.65 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is...
We have a break of market structure on the 4hr chart and also confirmed divergence, check the RSI. We also have a break of structure on the weekly chart... This is top down analysis 👏
With the EIA data today, the market is bound to experience significant fluctuations. From the current point of view, I think the probability of an upward trend is relatively high, so my trading strategy is to go long. During this process, since the fluctuations will be very large, you must do a good job in risk management and never let your transactions bear...
"I am expecting a trend-following trade from the current daily resistance. When you look at the 1-hour chart, there is a double top trading pattern formed. Additionally, there's a trendline that the market consistently touched for buys. Now, both the trendline and the neckline of the double top pattern have broken below, and we will trade on the retest." Entry...
OIL: #2-Another move down is possible - very risky I am not changing a single word from the previous analysis because nothing changed:) During the previous two months, the price of oil was more speculated by OPEC than we can imagine. Since the beginning of the war between Israel and Palestine, they repeated several times to support the supply of oil and later...
My dear friends, Please, find my technical outlook for USOIL below: The price is coiling around a solid key level - 68.52 Bias - Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 70.25 About Used Indicators: The pivot point itself is simply...
For the past few weeks, our outlook on WTI has been consistently bearish. While the market has been gradually trending downward overall, the price has not yet reached the downside target levels we have identified. Following a recent pullback, WTI encountered an order block where it consolidated and exhibited renewed weakness. In the H1 timeframe, the On-Balance...
Pressure building continues. Anvil tightening. #crudeoil
Crude Oil is currently testing a solid horizontal supply area on a daily. Analyzing a 4H time frame, we can spot that the market is currently weak & consolidating. I see an example of a classic inside bar formation. 71.4 is the lower boundary of the range of the mother bar. Its breakout - a 4h candle close below will be a strong bearish confirmation. A...
The short-term downtrend in the oil price has witnessed a corrective move upwards. Currently testing resistance (B) at 73.40 - 72.91, which marks the trend border, new sell trades can be considered in this resistance zone with a target in the Target Zone 69.70 - 68.71. Trading Ideas for USCrude Today: Sell Signal: Look for patterns at resistance (B) 73.40 -...
10YR:3B BOX:RANGE *10YR PH:TEST REJECT 6M:1-2 RTM:BO 3YR:POSSIBLE BULLISH WICK FILL Note that the is a hanging man on 15M TM , and we have the 1-2 RTM on 6 Months..because of the High timeframe Overall rule we will be following the 15 Months, Signal rather than the 6 Months hence we are Looking for sell Pattern. We observed: 1-2 RTM on 24HRS hence an intraday...
Hello,Traders! CRUDE OIL keeps falling in a Strong downtrend but it is Oversold at this point so After it retests the strong Horizontal support below At 66.96$ we are likely To see a bullish correction Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!
Dear colleagues, after analyzing the chart I realized that wave 5 has either already ended or will end soon. The price can still reach the support area of 68.06, but I will consider only long positions with the aim to reach the resistance area of 74.15. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
With recent market dynamics, the oil trading landscape has witnessed significant shifts, presenting traders with lucrative opportunities. Here are actionable strategies tailored to capitalize on these developments. 1. Fed's Dovish Stance and Demand Surge: The Federal Reserve's dovish outlook coupled with the International Energy Agency's upgraded oil demand...
WTI Crude Oil / USOIL is inside a Channel Down but the bearish strength is fading as a Falling Support has been formed while the 1day RSI Double Bottomed. At the same time the 1day MACD is about to form the 2nd Bullish Cross in less than a month. The very same (Channel Down) pattern was trading back in June - August 2022, with the same bullish divergence and...
USOIL has created a double-bottom. Buying at neckline break.
Hey traders, In the course of today's trading session, our analytical focus is honed on USOIL, with a keen eye toward identifying a strategic selling opportunity within the proximity of the 74 zone. The intricate dynamics of the USOIL market reveal an ongoing downtrend, signaling a potential bearish trajectory. Presently, the market is situated in a correction...