#USOIL.. market is in range from last 4 to 5 weeks.
The reason is market have upside strong resistance.
If it will continue his range trading then again drop expected from here.
Otherwise if market clear upside then upside areas also mentioned.
Trade wisely
Good luck
So, here it is... The big oil short. After the impulsive rally of the last few days, WTI has stalled again around the USD 76 mark, which we view as very bearish. Against this backdrop, we expect prices to fall sharply in the near future, which could push WTI below USD 61.
The trading idea presented offers a convincing risk/reward ratio of 5:1.
As it is a trade...
U.S. crude oil inventories fell by 6.674 million barrels in the week ended January 19 from the previous level of 483,000 barrels. WTI prices were lower on the day as traders focused on rising U.S. oil production and rising supplies from Libya and Norway.
The short-term (1H) trend of crude oil has repeatedly fluctuated near the E point of the triangle, with the...
It has been an unpleasant month for oil traders. Crude oil has risen $3 this month but it's been a rough road getting there with repeated whipsaws intraday and extreme choppiness in trading.
Headlines about the Red Sea have been faded over and over again despite bullish implications and fears of an OPEC breakdown remain high.
However when you back it out, the...
USOIL is in bullish trend.
But Big bearish divergence shown at the top of the trend.
Rising wedge reversal pattern also form .
This two sign strongly indicates that price will be reverse from here.
If it breakdown to rising wedge pattern the projection tell us the price will go down to 71.25.
We wait for the breakout.
Oil prices were modestly lower this morning, and continued to pull back from the highs hit on Monday. Crude continues to trade within a relatively narrow range, mainly between $70 and $75 for front-month WTI (the USO ETF as above), and has yet to find a catalyst to help it break out significantly in either direction. Prices did gap higher this afternoon following...
Hey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 73.50 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 73.50 support and resistance area.
Trade safe, Joe.
Here is our detailed technical review for USOIL.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 74.25.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all...
Hey Traders, This is USOIL Analysis and update for all of you.
What we can see is market to make one small up move, complete the complex structure and fall.
If you have missed our last stream on TradingView, you can watch the recording here:
www.tradingview.com
DO NOT JUMP IN - Jumping in without using stop loss or risking big or following anyone blindly...
Crude oil latest market trend analysis:
Crude oil news analysis: Monday (January 15) in the US market, crude oil prices traded near $72.10 per barrel, after the high price of oil on Friday did not hold the rise, which means that investors at this stage did not form a consistent view of the price of the future market, both sides of the short and long, which...
