WTI is currently stuck between two important price levels—the 0.5 retracement at $67.292 and the 0.618 at $81.19. With WTI priced at $72.146, it's about $4.854 away from the 0.5 level and $8.854 away from the begining of the golden pocket. Technically, WTI has breached a local support area at 72.80$, indicating a downward trajectory towards the lower section of a...
Oil being manipulated by geo political issues and demands See if game theory plays out and Saudis cut production also Russias grey Market tankers still adding to supply I'm not a fan of Israel or Ukraine Think, if lows hold we get a bounce with supply cuts doesn't make since for Oil company's too not make profits the settling currency is loosing its value...
Could there be a possible BUY for USOIL? Based on what price action is showing, the market is currently at key zone, it seems to be forming a reversal chart pattern on the Daily TF. Let's see what will happen in the coming days. Remember trading is all about probability
price as been break structure to the downside so there is no reason to be bullish at this point. we will wait for price to pull back to at least 0.5 fib level then look for a signal to go short
First Head & Shoulders resulted in massive dump literally to 0. The one that's forming now is about to resolve, and dump is expected to be pretty big, although it won't go to 0 this time.
USOIL SHORT IDEA 4H SIBI + 1H BOS + 1H SIBI + LQ taken Targeting lq below
Crude oil (USOIL): Today opened at 71.1, the Asian market rose by 6 US dollars, the daily chart continued to rise, the upper pressure is in the area of 72.2-72.3, today we will first see whether the upper resistance is effective. I will update the crude oil signal later
we got a generational bottomed formed up lets go first week should be green the rest history follow the lines and youll walk out looking like a bank
Last week, West Texas Intermediate crude oil reached our price target of $70 and slid as low as $68.83 per barrel. After this route, USOIL has slightly rebounded and currently trades near the $71.50 price tag. In the very short term, we acknowledge a potential for the price to continue higher. Indeed, this would be consistent with a natural occurrence of the price...
The European Commission initially wanted to ban the sale of used tankers to Russian entities or their use in Russia, as well as the sale of used tankers to entities that could use these tankers to circumvent ceilings. G7 oil prices, but this provision has been canceled. One of the sources said Mediterranean countries with powerful shipping lanes fear the measures...
WTI Crude Oil is rebounding after breaching marginally under the 0.786 Fibonacci. That is the retracement level of the ranged price action long-term in the last 12 months. Symmetrically, it is a strong rebound level as witnessed on the December 9th 2022 low. Trading Plan: 1. Buy on the current market price. Targets: 1. 77.50 (projected contact with the MA50...
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Weekly Fibonacci 83.80% Discount from ATH. Bullish Swing Setup starting.
As far as we technical traders like to complicate things, I am always looking for simple reasons to validate what I 'M seeing on the chart. USOIL_CRUDE is now on a downtrend since September making a series of lower lows and lower highs.For me to change my bias on USOIL I want to see the market trading above 78$ which is my level for oil to really validate my...
Oil prices remained steady on Monday as the US sought to replenish strategic reserves, providing support from further decline. However, concerns persist about oversupply and weaker fuel demand growth in the coming year. Despite OPEC+ pledging to cut production in the first quarter, investors remain skeptical about compliance, as non-OPEC output growth is expected...
Crude oil is on support and has chance to goes up again. Trade safe. Have a good week.