As both institutional and retail traders await the OPEC + Meeting later today, we see technically the chart pattern and indicates an inverse head and shoulder and market is expected to break trendline and continue in the upward trend
Ok , you all know how this works.....
The OPEC meeting will show us the way. 83$ is the price they want. The movement from 94$ to 73$ has an average of 83$ per barrel 😳. So maybe we will see a price around 106$ until next April.....maybe. Maybe the cup&handle will give us higher prices. But still,this is just a theory.....not a TA!
not in this trade just having a gander
as long as it stays below blue line its short for now till the white
flip long at white and wait for a tag of the ATH
not sure about whats happening in the world of opec but expect this to pop as well when and IF the dixie looses 102
USOIL traders will closely monitor the temporary ceasefire between Hamas and Israel, with the intermediaries working to prolong the thaw in the Middle East conflict. This marks the first ceasefire agreement since the start of the Israel-Hamas conflict last Friday.
USOIL Broke out of range and price is now at a deep decline. CTFX will see if the bulls can stop the...
Oil prices soared as storms in the Black Sea region disrupted oil exports from Kazakhstan and Russia, raising concerns about tight supply as investors awaited a major OPEC+ decision.
Severe storms in the Black Sea region have disrupted oil exports of up to 2 million barrels a day from Kazakhstan and Russia, state and port authorities said. The Ministry of...
Looking at the monthly chart of USOIL, seeing a giant H&S pattern forming following our 2020 - 2022 rally & the blow off top of June 2022.
The monthly stochastic RSI death cross could also add further fuel to the fire
Looks like high interest rates could bite demand for oil hard in 2024 if rates are not cut anytime soon.
Ps, Tesla could be one of the catalysts...
The price of WTI has recently rebounded from its significant losses. Is this the beginning of a new uptrend?
We believe: No, at least not at the current moment.
The On-Balance Volume (OBV) indicates a pronounced hidden bearish divergence.
This divergence needs to be resolved through price declines.
It is reasonable to assume that WTI will, at the very least,...
Entry Point : $76 per barrel
Take Profit : $88 per barrel
Stop Loss : $71 per barrel
Technical Analysis: The entry point of $76 is chosen based on technical analysis, considering historical support levels and potential upward momentum.
Profit Target: $88 is set as the take-profit level, reflecting a reasonable profit margin and considering potential...
Yesterday I said that oil has broken through the downward trend, and now it is blocked from falling in the middle of the trend line.
If it continues to fall, we need to observe the support strength of 76-76.3
So you can buy gradually in this range, because the OPEC meeting is still uncertain, if it falls below the range, you need to strictly set the stop...
Hello, according to my analysis of the oil market. We notice that the market formed a triangle pattern and penetrated the pattern. But it was a bullish breakout. But it rebounded from a very important area, which is the 78 resistance level. A large red candle also formed, indicating strength in the sellers. Good luck to everyone.
My dear subscribers,
This is my opinion on the USOIL next move:
The instrument tests an important psychological level 75.13
Bias - Bullish
Technical Indicators: Supper Trend gives a precise signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 76.80
About Used Indicators:
On the subsequent day, trading above...
🕛 TOPDOWN Analysis - Monthly Bullish Structure, Weekly Bearish Inducement
Overview: The monthly market structure maintains a bullish stance, holding key supports. On the weekly chart, a valid low was established, accompanied by a strong bearish inducement. While a demand flip occurred, the overall trend remains bearish, marked by a record session count and inside...
