Analysis of West Texas oil in the short and medium term The market is in the upward correction wave ABC, which is currently in wave B and can move towards $78 and $80 as wave C. The most important support is 72 dollars
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WTI Oil (USOIL) is under a heavy technical squeeze as it has been trading for days within the 1D MA50 (blue trend-line as Resistance) and the 1W MA200 (red trend-line as Support) and the width has now gotten extremely tight that a break-out is inevitable. The very same squeeze was last spotted on July 03 2023, when the price marginally broke above the 1D MA50 but...
#USOIL Sell Idea ..........................................................................
Crude oil market analysis Crude oil up and down the string is very strong, the idea is still a big shock, today pay attention to the 71.00-74.30 shock range, we find meat in this range, the shock market can be on, the important waiting for a good position, crude oil weekly line shows that it is building a bottom, short-term difficult to end such shocks, crude oil...
On the 1H chart the Crude oil is forming a potential Inverse Head and Shoulders. What is more important about it is that it's happening after a retest of a bigger symmetrical triangle. I am leaving the link toward the 4H oil analysis so that you can see the bigger picture:
Hello Traders! I suspect the oil price will remain bullish. Down days will be great to buy after in a bullish trend
Bullish set up________________________________________________________________
In today's post, I aim to delve into the turbulent waters of global geopolitics, where recent events are casting profound ripples across the oil market. The stage is set with a series of impactful occurrences, each possessing the potential to reshape the dynamics of the international landscape. Attack on the U.S. Consulate in Erbil: News is emerging from Iraq...
International crude oil futures rose 1% last Friday. Although they rose, they could not erase last week's decline. Last month, OPEC and its allies pledged to cut production by 2.2 million barrels per day in the first quarter of 2024. After oil prices surged sharply last Friday (January 12), they gave back all their gains, which means that short sellers may make...
Oil fell below the important support range of 71.7-72 Usoil:sell71.7-72 TP:71.3-71 SL:72.2 Follow the trend and trade, join me and I will continue my analysis
Bearish indications: Double top formation in 5 min time frame. Trend line support broken and acting as resistance. Major resistance broken and acting as resistance now. Bearish engulfer candle from resistance. made a low , continuation of bearish trend. Trade plan bias short @ 72.68 SL:73.09 TP1:72.21 TP2:71.76 TP3:71.36
First trade of the new week. Simple break and retest trade. TP: 72.131
I opened a long trade at the 1hr demand zone edge. looking for an RR of 5 which would be an outstanding profitable trade if we hit the target. It's a second reaction the previous demand zones. So let's see what are the odds..
US CRUDE OIL New forecast The price of oil ended last Friday's trading with strong negativity to settle below the 72.90 level, which places the price under the expected negative pressure in the immediate term, pushing the price to achieve negative targets starting at 71.00, and by breaking it, it will extend far to the 69.15 areas. Therefore, a bearish bias...
The bearish move that we see in this chart, which started on September 28th, has formed two bearish channels, preventing the price from going higher seven times so far. As you can see on Friday, January 12th, with the geopolitical news from the Red Sea conflict, the price attempted to form a bullish breakout of the smaller channel but got rejected from the larger...
Potential Long Opportunity : price retrace from the resistance level with high potential to retest the strong resistant level 75