USOIL (H1): Forecasting and Analysis exposed to the Bullish.
Dear Followers, It is the clear intimation to the Bullish moment after recent reaches. My targets clearly represented on the CHART-USOIL TVC:USOIL . I suggest you to put the pair in your watchlist for quick information and current position of the pair and compare my ideas and rules if you are...
Hello traders, today I propose my vision of oil in which I identify a trigger for short sell entry in favor of the main bearish trend.
Thanks to the use of my indicators created specifically for my way of seeing the markets, I highlight the beginning of the bearish structure which begins on October 3, 2023, so from then on I will only see short...
International oil prices rose. Originally affected by the increase in U.S. crude oil inventories, oil prices first rose and then fell. However, the risk of interruption of the Red Sea transportation channel still provided support for oil prices, helping to keep oil prices above the 21-day moving average.
Yesterday, the market rose first and then fell as expected,...
Oil traders overreacting to the wrong triggers?
Divisions within OPEC have caused WTI crude to fall below $74 per barrel, ending a three-day climb for the commodity.
Angola, which joined OPEC in 2007, said it is leaving the Organization of the Petroleum Exporting Countries. This move raised concerns about OPEC's capacity to stabilize global prices,...
Crude oil rose too much before, so it needs a technical pullback, the big trend we still insist on bullish!
At present, there is a small top of the daily line signal, it has a technical retreat, will continue to rise after the retreat, the weekly line stabilization signal is very obvious, so the bulls have begun a big counterattack in the retreat is not a trend...
WTI will complete a Death Cross pattern on the 1d time frame. This will be its second since September 02 2022.
That pattern initiated a strong decline which was a bearish leg inside a Channel Down pattern.
Oil is again trading inside a Channel Down since Sep 28 2023 and the Death Cross can be the sell call for the final leg to the 63.70 Support.
We expect at...
Oil prices have been drifting higher for the past week due to the dovish FOMC meeting and a demand forecast upgrade from the EIA. But on Thursday the commodity pulled back from the monthly highs as the Angolan oil minister announced on local TV that the country was leaving the Organisation of Petroleum Exporting Countries (OPEC). The decision was made as they...
- The market has been trading inside a bearish wedge since the end of September 2023, registering lower highs and lows. The medium-term trend is therefore bearish.
- In the shorter term, prices have registered a sharp rebound since their impact on their annual low around $68. This rebound led the market the upper limit of its wedge, below the 23.6% Fibonacci,...
USOIL Just breakout and took out the fvg zone am expecting a steady decline in price of oil now down 68 zone region we might be seeing a little pullback but the trend is overall bearish
JOIN AND ENJOY
Tell us what you think...........
Here is my latest structure analysis for WTI Crude Oil.
Resistance 1: 74.1 - 75.0 area
Resistance 2: 78.5 - 79.8 area
Support 1: 71.7 - 72.9 area
Support 2: 67.7 - 68.7 area
Consider these structures for pullback/breakout trading.
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Crude oil (USOIL): Crude oil also showed the same picture as my analysis yesterday, falling first and then rising.
Today's opening is at 74, with an amplitude of $3 in the morning. It's not promising, and the amplitude is smaller than gold! The daily chart has risen for five consecutive days. Visually, the downward trend has ended, and a new round of bullish trend...
