Hi Traders ! The USOIL Reached a Strong Resistance Level (79.72 - 78.47) The Price Formed a Rising Wedge Pattern. Let's Expect The Bearish Scenario: If The Price Breaks The Support Line and Closes Below That, I Will Sell on Retest... TARGET: 70.50🎯
Yet there are divergences appearing and a Bull 'Wedge' to Boot (Yellow). It may overshoot the Lwr-Line of that 'Wedge' to tap the rising Blue Line which is a Lwr-Parallel of the Lrgr Up/Trend Channel; where a low could be put in. Failing to hold that Lwr Blue-Line will bring focus on the Lrgr Target box at the 62/Fib.
Watching the failed B/Out of the Dn/Trend Channel as indicative of favouring the downside until recovered.
#USOIL... market just placed his supporting area in yesterday, and hold it sofar, day closing above that area 72.60 mean there is something, now if market hold it then again bounce expected from here otherwise sustained breakage will leads you towards further downside areas, keep close and don't hold your buying positions below 72.60... trade wisely good luck
As We Talked in The Previous Analysis: The USOIL Reached a Strong Resistance Level (79.72 - 78.47) The Price Formed a Rising Wedge Pattern. Currently, The Support Line is Broken and Now The Price Will Continue its Bearish Movement ! __________ TARGET: 70.50🎯
Oil continues to decline after retesting resistance at 79. The next target is 70. Amid a gloomy economic backdrop, fuel demand is falling. The chart clearly shows that the price is heading towards the bottom zone.
The market's reaction to OPEC+'s announcement of voluntary production cuts was a further decline in oil prices. According to reports, investors were pessimistic about crude oil ahead of the OPEC+ meeting and had already priced in their expectations that production cuts would not be enough to push oil prices higher. The market's economic recession and investors'...
USOIL/WTI D1 Bullish Butterfly Formation Market will be bullish reversal from here, share your opinion in comments. Thank you
US supply and OPEC+ production cuts striving to drop the priice of oil to older low levels and we try to identify buy levels here placing daily fibonacci zones to be visible adn to get a general ideea where could it go next
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Hello everyone Back with another beautiful setup Reason for entry: * Complete Expanding flat formed (STRUCTURE READY) * Ending diagonal formed (5 complete waves) * MACD divergence (ending diagonal) * Liquidity GAP (72.59) taken * Structure broken 74.17 ENTRY: 73.39 STOP LOSS: 72.11 TAKE PROFIT: 80.00
Zone of usoil Wait for reversal to 89.5 at least. Follow buy when day close bullish candle stick it’s a first signal fir big rebound
Potential Scenario for Oil, key level 93$ if the price does not break this level then the higher possibility is a bearish scenario
↪️USOIL was trading for a significant duration of time within a flat trading range on a 4-hour basis. Its support was breached yesterday and a daily candle concluded beneath it. I anticipate that the market will decline further at this point, at least towards the subsequent support level.👍✅
Crude oil (USOIL/XTIUSD): Yesterday, crude oil entered the market as planned and harvested profits, reaching a perfect position of 72.2, with a profit of 140pips. Today it opened at 72.1, rising by 5 US dollars in the morning and then falling back, similar to the trend of the previous two days. The bulls resisted tenaciously in the morning. Although there is...
As the chart shows, the price of a barrel of US crude oil dropped below 72.10 per barrel yesterday for the first time since July 2023. Fundamentally, this happened against the backdrop of: → Statistics showing that US oil exports are increasing. Volume is approaching a record 6 million barrels per day, with flows to Europe and Asia showing steady growth. →...
USOUSD is bouncing off our buy entry to our take profit level. Entry: 72.482 Why we like it: There is a multi-swing-low support Stop Loss: 69.871 Why we like it: There is the pullback support level Take Profit: 79.567 Why we like it: There is the multi-swing-high resistance level and aligns with 61.8% fibo retracement level. Please be advised that the...
Crude oil prices declined steadily below the $75.90 support and moved into a bearish zone. Important Takeaways for Oil Prices Analysis Today · Crude oil prices extended downsides below the $75 support zone. · A major bearish trend line is forming with resistance near $73.35 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the...