Hi Traders !
Previously,
The USOIL Price Formed a Bearish Double TOP Pattern.
Currently, The Support Level (81.29 - 80.33) is Broken !
So, I Expect a Bearish Move 📉.
_________
TARGET: 78.16🎯
Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. I wait price to continue the retracement to fulfill the imbalance higher and then to reject from bearish order block.
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Yesterday I thought oil would reach 79.5, and I thought that if oil closed at 79, the probability of rising today would be high, but the highest it could only reach 79.2.
After my analysis today, I believe that oil started to fall from 87.6, reached as low as 77, and finally fell to around 76.9, a total drop of almost 11, so I judge that oil has some room for...
WTI Oil (USOIL) gave us an excellent sell signal last week (April 29, see chart below) following the first 4H Death Cross since October 10 2023, which easily hit our Target:
We now need to look at the longer-term time-frames for clues on the direction as short-term it turned bearish. Looking at the 1D time-frame though, we can clearly see that WTI is on a...
My dear subscribers,
USOIL looks like it will make a good move, and here are the details:
The market is trading on 77.93 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 78.62
About Used Indicators:
The average true range ATR plays an important role in 'Supertrend' as...
OILUSD is making bearish harmonic reversal pattern ABCD. As the chart is point C which is the retracement point, short it towards the point D and at D point we might see a bullish breakout.
Any healthy trend will respect support and resistance levels.
In this chart the thick green line is a valid support which got broken. But where is the retest?? Market should have taken support on the thick red line to go up and test the broken green line, get rejected and come down. Only then I would call this last down phase as a healthy down trend.
Market even...
OPEC cuts lead to lower oil, not higher oil prices. That is why they are cutting . If Global demand was there they would not be cutting they would be selling as much as they can at higher prices.
I see too many people get this backward.
If you are a friend who likes to trade oil, you can do a rebound at 77.5-77.8. Combined with the trend channel, oil will rebound to a certain extent after falling. For ultra-short-term trading, you can also buy to earn the difference.
In the past, you always failed when trading alone.
But everything will change after you follow me.
Because we will be the...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 77.43 which is a pullback support that aligns with the 61.8% Fibonacci retracement level.
Stop loss is at 75.40 which is a level that lies underneath a pullback support.
Take profit is at 80.18 which is an overlap resistance.
High...
Please, check our technical outlook for USOIL.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 78.43.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 80.05 level.
P.S
The term oversold refers to a...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 77.43 which is a pullback support that aligns with the 61.8% Fibonacci retracement level.
Stop loss is at 75.40 which is a level that lies underneath a pullback support.
Take profit is at 80.18 which is an overlap resistance.
High...
Hello,Traders!
CRUDE OIL has made a
Retest of the rising support
Line and it is making
A bullish rebound so
Our local bullish bias
Is confirmed and we will
Be expecting a further
Bullish move up
Buy!
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Hello,Friends!
USOIL pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 12H timeframe the pair is going down too. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 81.20...
