if you had the intention of buying an oil or gasoline car in the following years, think again. The price of oil will skyrocket.
Chart show's the possibilty of the cup and handle pattern and the target.
WTI oil (USOIL) could fall towards a pullback support and potentially bounce off this level to climb higher.
Buy entry is at 77.912 which is an overlap support.
Stop loss is at 77.000 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level.
Take profit is at 79.523 which is a pullback resistance.
High Risk Investment...
WTI Oil is neutral on the 1W technical outlook (RSI = 51.426, MACD = -0.040, ADX = 21.884) as it is about to close the third straight week trading sideways on the 1W MA50. On this long term chart, we can clearly see that the price hasn't crossed over the R1 level (79.75) since November 13 2023. As long as it keeps closing the 1W candle under it, we are bearish...
Yesterday crude oil staged another attempt at an upside breakout. So far in February we’ve seen front-month WTI stall when it has attempted to break above the $78.30-$78.80 area. But it managed to cut above here yesterday, although it ultimately failed to close in on $80. Once again, it ran out of upside momentum as it pushed up into the $79.20-$79.70 band. This...
Price break the trendline in Asia session and did the retracement at the trendline level. No decision to be taken since no confirmation or direction from the market. Decision point on the trendline if price going down then wait for retracement at the trendline. Or if price going up and breaks trendline, wait for the price to retrace at the support marked support...
If the price breaks above the formation then we can expect the target of 79.5, if it breaks below the formation then we can expect the crude to come down to 77. Even the inventory released yesterday is negative for USOIL. Let's see how it goes. Maintain strict SL as it may go sideways too.
Oil prices fell due to concerns about higher-than-expected inflation potentially delaying U.S. interest rate cuts. The market is caught between bullish factors such as lower OPEC output and bearish concerns about weak demand in China after the Lunar celebrations came to an end and international traveling from and to China has slowed down. Anticipation of falling...
📊 Due to the decrease in the upward momentum of the price movement, if the range of 78.0 units is broken and the price stabilizes below it, the price may fall to the range of 77.3 units🎯 , and in the case of the strength of the range of 76.5 units🎯🎯.
📊 Otherwise, the possibility of price increase up to the range of 79.3 units.
WTI oil (USOUSD) is falling towards an overlap support and could potentially bounce off this level to rise towards our take-profit target.
Entry: 78.046
Why we like it:
There is an overlap support that aligns close to the 50.0% Fibonacci retracement level
Stop Loss: 77.322
Why we like it:
There is a pullback support that sits under the 61.8% Fibonacci...
The options market is a very important aspect of how hedge funds and other large speculators place their bets on the underlying asset.
The 25 delta skew on crude oil suggests high implied volatility and given the >1.2 call:put ratio of the 10-15% strike price +/- from current trading price, it means that volatility to the upside is likely.
I expect a 5-6% gain...
Hello Traders!
I see a good opportunity to execute a short trade on WTI H1. I expect the BOSS at the price of 77.80 to be taken, and in case of retracement, I will look for a short trade entry.
Traders, if my proposal resonates with you or if you hold a divergent viewpoint regarding this trade, feel free to share your thoughts in the comments. I welcome the...
Asia market session makes compression price, and the next session when UK session is expecting to manipulate the market. The last session US session is expected market to do the distribution/direction. The price is on the strong supply area waiting for the price to break resistance before or do the rejection on the supply zone.
Hello,Friends!
USOIL uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 75.81 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the USOIL pair.
✅LIKE AND COMMENT MY IDEAS✅
The important levels this week :
We give attention to the highlighted area any price action we sell or buy.
And moves the stop loss to the entry after 100 pips.
