Looking at the H4 chart, price has reached our sell entry at 70.380 along with a 38.2% Fibonacci retracement. If the price were to reverse from here, it could potentially drop to our take profit level at 67.02, which is an overlap support. The stop loss will be at 72.80, which is just slightly above the swing high resistance.
Any opinions, news, research,...
dear traders petrol trying to follow trend up so I expect petrol after bulk back in zone 66.92 it may be a chance to take a buy and if he breaks and close below 66.92 it will be high probability to sell ..follow my instructions and trade safe
Price has exhausted around the 20-MA on H4 and has now moved below this MA. We could see the momentum carry price down through the 10-MA to its take profit target.
Entry: 66.701
Why we like it:
Break of the 10-MA on H4
Stop Loss: 68.048
Why we like it:
High of day on 21st March
Take Profit: 64.362
Why we like it:
Low of the day on 20th March
Please be advised...
= Technical analysis of wti on the hourly chart
= The analysis is based on trend analysis and price behavior
= Now the price is moving casually in a dangerous area that is not suitable for trading. You must wait for it to cross this area to enter into a trade, and this will usually be done from below.
#WaveAnalysis
#WTI crude oil reversed from support level 64.40
• Likely to rise to resistance level 73.20
WTI crude oil recently reversed up from the powerful support level 64.40 (which has been reversing the price from the middle of May).
The upward reversal from the support level 64.40 stopped the previous impulse waves 3 and (C).
Given the triple bullish...
Dear traders petrol was up trend and strong trend so he rejected previous weekly candle so it may consolidate a bit I expect petrol is he reache the key level of resistance zone it may be down so wait for price action to react and take the opportunity
TRADE SAFE
dear traders petrol in down side deep trend has last week so we should be careful with this market it is not easy to take the chance if you re not eligible to respect the zones it all in my chart the instruction is very clear trade safe traders
good luck
Oil prices rebounded on Thursday, up more than 2%, as it is expected that Russia will significantly reduce its holdings next month. However, concerns about demand were exacerbated by a strengthening US dollar and a significant increase in US crude oil inventories.
On the news front, Russia plans to reduce its oil exports through western ports by as much as 25% in...
Technical analysis of oil:
Friends, I see the ascending harmonic butterfly pattern in the daily time frame. Friends, I suggest a step buy position.
Good luck
Karim Heydari
We consider the "weekly channel".
According to my calculations there will be a return to the level of 108 (approximately). Next: the channel target (take profit level) is 53 .
I can suppose about the terms: if it goes to the level of 108, it will be around September-October 2023.
Then the level of 53 will probably be reached by the end of 2024. These are my...
WTI had fallen for 3 consecutive days in Wednesday. The bank crisis is calling banks to deleverage their positions, pulling back on their exposure on oil and causing the price to fall.
International Energy Agency (IEA) is also reporting that the current situation in the oil market is a situation of oversupply, while Russia is looking for buyers for its oil.
The...
