In the 4-hour chart, a consecutive positive rebound broke the weak decline and returned to the mid-track shock. Judging from the closing situation of the K line, the short-term rebound is still strong. The hourly chart rebounded based on the downward test of 67.70, and stabilized the upward trend from 69.50. The 4-hour chart reversed the weakness. In the short...
WTI oil (USOIL) is trading close to an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 72.264 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 75.089 which is a level that aligns with the 61.8% Fibonacci retracement level and sits above an overlap...
Reviewing the global supply and demand dynamics for USOil clearly indicates a tightening of the oil market. There is also an increased global economic activity, growing energy demands, and potential disruptions in oil-producing regions contribute to a positive outlook for oil prices.
If you are considering long positions in USOil, then you should remain vigilant...
Based on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
Hello Traders!
This is my view related to WTI / OIL H4. As you can see, OIL is in a very interesting phase, It took liquidity, set a new daily high, react from the OB (D1), and I expect a bullish movement until the level of 78.000.
Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see...
Hello,Friends!
USOIL pair is in the downtrend because previous week’s candle is red, while the price is evidently rising on the 6H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 67.65 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is...
We have a break of structure to the up side followed by a return to a trendline with a false break. We also have bullish Divergence on the weekly chart! Get ready for the seasonal price change of OIL...
We have a break of market structure on the 4hr chart and also confirmed divergence, check the RSI. We also have a break of structure on the weekly chart... This is top down analysis 👏
With the EIA data today, the market is bound to experience significant fluctuations. From the current point of view, I think the probability of an upward trend is relatively high, so my trading strategy is to go long.
During this process, since the fluctuations will be very large, you must do a good job in risk management and never let your transactions bear...
"I am expecting a trend-following trade from the current daily resistance. When you look at the 1-hour chart, there is a double top trading pattern formed. Additionally, there's a trendline that the market consistently touched for buys. Now, both the trendline and the neckline of the double top pattern have broken below, and we will trade on the retest."
Entry...
OIL: #2-Another move down is possible - very risky
I am not changing a single word from the previous analysis because nothing changed:)
During the previous two months, the price of oil was more speculated by OPEC than we can imagine.
Since the beginning of the war between Israel and Palestine, they repeated several times to support the supply of oil and later...
My dear friends,
Please, find my technical outlook for USOIL below:
The price is coiling around a solid key level - 68.52
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 70.25
About Used Indicators:
The pivot point itself is simply...
For the past few weeks, our outlook on WTI has been consistently bearish. While the market has been gradually trending downward overall, the price has not yet reached the downside target levels we have identified. Following a recent pullback, WTI encountered an order block where it consolidated and exhibited renewed weakness.
In the H1 timeframe, the On-Balance...
Crude Oil is currently testing a solid horizontal supply area on a daily.
Analyzing a 4H time frame, we can spot that the market is currently weak & consolidating.
I see an example of a classic inside bar formation.
71.4 is the lower boundary of the range of the mother bar.
Its breakout - a 4h candle close below will be a strong bearish confirmation.
A...
