WTI Oil (USOIL) eventually formed the Channel Up we projected on our most recent (see chart below) analysis 2 weeks ago:
As the price is below both the 4H MA200 (orange trend-line) and the 4H MA50 (blue trend-line), we spot the completion of the Right Shoulder of a Head and Shoulders (H&S) pattern inside that Channel. We will not short however before the...
The oil price succeeded in achieving our first expected target at 86.55, and we note that the price returns to test the pivotal support 84.55, which maintains its consistency in the face of negative pressures so far, so that the bullish trend scenario remains valid for the coming period, waiting to exceed the mentioned target to achieve additional gains up to...
TVC:USOIL registered a strong upwards movement in the short term and now is located at 89.49. Fundamentally, the Canadian Retail Sales and Core Retail Sales should have a big impact on this market later. Positive economic figures should lift the price.
From the technical point of view, the rate stands right below 89.57 - 90.23 resistance zone. A bearish...
US OIL
New forecast
The price perfectly fulfills my last idea and price reached to our target +170 pip .
The price of oil failed to penetrate the level of 85.71 after the strong rise that occurred last Friday due to the war, and it rebounded from it to return to the selling pump again, which maintains its cohesion in the face of negative pressures so far by...
Hello Traders, before I forget to post the massive move ahead for USOil I wanted to make sure this got published.
Really feeling blessed to be able to now execute directly on Tradingview Via Futures.
Will keep you all posted on that growth. I plan on getting very active on all platforms for accountabilities sake. It really brings me joy sharing knowledge and...
Price indicates a drop to reach level of USD $79-$81 barrel, support level USD$79 to start a pull back into an uptrend.
Obviously, we have to consider Israel & Palestine conflict if things get worst then it might change these parameters. However, price is doing what it is expecting before a pull back to the uptrend.
US OIL, due to current geopolitical and war conditions, is reacting. Following a bearish trend, it might test its support of 82.4. let's see, As marked, it did test the highs as mentioned on chart. now returning to test its support. Let us wait and see whether this remains a strong support or it slides down further.
Two scenarios. One Long. One Short.
Fundamentals:
-
Scenario 1 (Orange arrow)
Target: Next resistance level (upper red rectangle ). Recent swing top.
Requirments:
- Monthly close above the orange rectangle.
- Higher swings above it
Invalidation / SL:
- Fall under orange rectangle AND generating lower swings.
Time duration: days, weeks,...
Based on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
If you look closely, price perform a BOS at the previous LH giving higher probability for the next HH. Price also perform some pull back for the new HL and and set to continue an uptrend.
WTI Crude Oil formed a double bottom formation after a test
of a solid rising trend line on a daily.
Its neckline was broken this week.
The broken neckline and a trend line compose a contracting demand zone now.
A bullish continuation will be expected to 93.7 level from that.
❤️Please, support my work with like, thank you!❤️
USOIL
New forecast
The price of oil traded with noticeable negativity in the past sessions, and the day begins with an additional decline to break the support of the main ascending channel followed by the 88.30 level, which provides indications that the price is heading to return to the downward corrective path again, but we note that the technical indicators...
HELLO TRADERS,,,
As i can see this chart of USOIL it is moving same as we had predicted in our previous analysis
Israeli & Gaza War Tensions are driving Gold and Oil prices in bullish trend and we can see a Wyckoff Pattern on the base of technical view the support is holding the price of oil and i am expecting it will boost to the upside for completing this...
