Pivot 86.00 Our preference Long positions above 86.00 with targets at 87.40 & 88.20 in extension. Alternative scenario Below 86.00 look for further downside with 85.50 & 84.65 as targets. Comment The RSI shows upside momentum. Supports and resistances 89.00 88.20 87.40 86.80 Last 86.00 85.50 84.65 Number of asterisks represents the strength of...
West Texas Intermediate crude oil has increased nearly 20% since the start of 2024 and is currently trading near $86.50 per barrel. The precarious situation in the Red Sea, production cuts by OPEC (and its allies), and the inability of the United States to bring more production online fast enough have greatly contributed to the rising oil prices in the past four...
Crude Oil set a new local higher high higher close on a daily, violating a key horizontal resistance. It opens a potential for a further growth to 89.0 resistance. I would suggest looking for entries after a pullback. The safest zone to watch is a demand zone based on a broken structure and a trend line of a rising channel. ❤️Please, support my work with...
🛢 CL OIL, H4 🛢5 April 2024 Crude oil prices experienced a significant surge propelled by concerns over lower supply amidst decisions by major producers, including OPEC+, to maintain output cuts. Growing signs of economic strength in China also contributed to heightened demand for oil, underscoring the market's focus on supply dynamics amid geopolitical tensions...
At present, crude oil is around 86, which has reached the expected high point. Although technically bullish, this level is no longer suitable for chasing the rise. According to technical expectations, it should be temporarily suspended between 86-85. If crude oil does not stop in the short term, then the short-term market will exceed expectations, so it is okay to...
In the IH time frame, USOIL exhibited a bullish trend, marked by consecutive higher highs and higher lows. However, a bearish divergence has emerged, suggesting a potential shift in the trend. Subsequently, the price broke the previous higher low as indicated by the RSI. Additionally, another break of the previous higher high occurred, accompanied by a Bullish...
Here are the reasons behind the trade Uptrend Price moving in ascending channel Will test the 0.68 fib level then execute the order
WTI oil (USOIL) could fall towards a pullback support and potentially bounce off this level to climb higher. Buy entry is at 85.758 which is a pullback support that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 82.400 which is a level that lies underneath an overlap support and the 61.8% Fibonacci retracement level. Take profit is at 90.325...
Hi I have had many works on OIL chart and honestly I have not been able to find a satisfying analysis even for myself but I always want to share my ideas and get you opinions about them. For crude there are to bold scenarios for sell and buy and it is not practical because the trend will go up or down finally and having buy and sell scenarios may work for...
This breakout could take the price to $96. This could trigger another inflation 🌊
Hello Traders ! Yesterday, The USOIL Broke The Resistance Level (83.56 - 82.50). This Resistance Level Becomes a New Support Level. So, I Expect a Bullish Move 📈 ----------- TARGET: 86.30🎯
Detailed technical analysis for WTI Crude Oil. Price action & important key levels. Daily/4h/1h time frames analysis. Bearish outlook explained. ❤️Please, support my work with like, thank you!❤️
as price reach the top of the bearish flag the bears are looking to push price down so I am going short
WTI Crude Oil appears to have completed a multi decade Bear Cycle that started during the 2008 subprime crisis. Such long term trends and patterns can only be viewed on monthly timeframes and for this analysis we have chosen the 3M. Technically Oil is only neutral on its 1M technical outlook (RSI = 54.985, MACD = 2.990, ADX = 14.499), which indicates its strong...
Hello,Friends! USOIL pair is in the uptrend because previous week’s candle is green, while the price is evidently rising on the 5H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 82.58 because the pair overbought due to its proximity to the upper BB band and a bearish correction is...
I just predict the oil in Longterm timframe Since I look back where I was at 2022 It was ATH and Now it's going for wave B by Quarter 2-3 this year
If you haven`t bought the dip on USOIL: In the chart, there's an inverse head and shoulders pattern visible. Coupled with robust travel demand anticipated this summer, I predict USOIL could reach $90 during this season!
Dear Colleagues, we expected the price to decline, but it seems that the upward movement is not over yet. I expect the completion of wave "5", then a corrective movement in wave "B" of higher order in the area of 38.2% - 50% Fibonacci levels (83.62), after which I will consider only long positions to the resistance area of 88.00. Manage your capital correctly...