Bearish indications:
Major resistance respected.
Bearish engulfer candle from resistance .
trend line break out.
Currently at lower high.
Trade plan bias short at 90.60
SL:91.14
TP1:90.10
TP2:89.69
WTI Crude Oil hit the HL trendline inside the 1H Channel Up pattern, which was enough to turn the 1H technical outlook bearish (RSI = 37.852, MACD = 0.140, ADX = 31.002). A 1H RSI that low has previously been a buy entry two days ago. The lowest it has been during this Channel Up was 35.400.
In response to the above, we deem the HL hold good enough to make a...
Crude oil continues to rise in the direction of the trend. Any intraday adjustment before reaching the new target of 91.50 is an opportunity to continue to be bullish in the short term. Of course, since the overall increase has been huge enough, the current space above is limited. Another one is in this round. It is the end of the rise, so it is not advisable to...
USOIL
OUTLOOK
Technical abstract :
The price perfectly fulfills my las idea and we got about +150 pip .
Oil price shows more upward bias, reaching the 91.40 barrier now, waiting to continue rising to reach the resistance of the main ascending channel, which now rises to 93.50.
The ascending channels continue to organize the upward wave, and breaching the...
Oil prices rebounded as markets focused on a tighter crude supply outlook for the rest of 2023. Demand is expected to remain strong while fears of deficient supplies are driving prices higher. Saudi Arabia and Russia's extension of oil output cuts will lead to a market deficit through the fourth quarter, according to the International Energy Agency. The lack of...
On The Monthly Chart First Thing Is That The Month Has Started On The Flight Note Which You Can See High Area Achieved And That Is Why I Say Beyond 86.5 Level You Can Expect Similar Size Of Candle In The Month Of September Now.
This Candle Was Almost Of 11 To 12 Dollars And Hence If You Count The Similar Size Of Candle Or Further Smaller Candle You Can Find Out...
Crude oil is about to plummet to the 80line, if you have any questions, come to me, it is so domineering
Crude oil’s daily line is obviously in the trend of multiple tops, at least a quadruple top. Every time it rushes to around 82, and then is suppressed strongly. At the same time, there is a waterfall downward, and the Bollinger Bands have closed. already empty
2023.9.15 USD and US crude oil rallied and retreated
Hello, I'm Older Duan. Today is Friday, September 15th 2023.
Now it's 17pm Beijing time.
Let me give you a quick comment on the technical forms of the current international mainstream varieties!
First, what we see is the daily graph of the dollar index.
As shown in the figure, the US dollar index rose...
Crude oil message surface analysis: In the US market on Friday (September 1), US crude oil continued to rise, trading near $85.17 / barrel, so the former API data showed that the US crude oil inventory fell by nearly 11.5 million barrels last week, much higher than market expectations, in addition, the overnight data showed that the US job market slowed down, the...
Crude oil price is surging, and it could climb further higher toward the $92 resistance.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices rallied above the $88 and $90 resistance levels.
· There is a key bullish trend line forming with support near $89.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the...
The overall trend of crude oil rose and fell back yesterday. After a slight rise, the bulls were unable to come out of the decline, but the bullish direction remained unchanged. After all, the bullish form on the daily line was good, and the moving averages were also arranged by bulls. If there is an unexpected second bottom, the bullish trend can continue. ....
WTI and Brent crude oil futures each tallied their seventh consecutive weekly gain in their longest winning streaks since February 2022, on continuing strength from reduced supply from Saudi Arabia while global demand levels remain fairly high despite weakness in China.
Previously i had published a short forecast but after breaking all reversal points its making...
Recently, USOIL has continued to rise due to the tight supply faced by the global crude oil market, and the bullish trend is obvious. At present, we can pay attention to the support near 87.5. If we step back to this position and stabilize, it is expected to continue upward. At the top, we can pay attention to the resistance near 92.9.
Oil will increase in the coming years. Countries that get rich thanks to colonizing and exploiting cheap resources of poor countries will become the 3rd countries of the world, including Western and Central European countries: France, Germany, Italy... crazy countries fanatically against Russia and Putin.
#oil
Yesterday, the IEA released its latest report, forecasting prices and production in 2023 and 2024. The forecast pointed out that the global oil market is facing tight supply, which directly affects the trend of oil prices. Crude oil broke through the range and hit a new high. Today's callback will continue to be long.
Crude oil has been running below the...
Hello traders,
USOIL has no strong signal to open sell on daily and 4H chart.
And on this 1H chart, could see more clear that on Wed it just finished a BIG ABC wave with CPI momentum. A and C are so close or hit FIBO 382 of last uptrend swing.
From then, USOIL slowly rise up alone with the green trend line.
Will it test fibo 1.27 89.65 AGAIN which it hit once...
