The recent moves in oil will have been disappointing for those who expected to see a sustained bullish rally following the Hamas attack on Israel and its subsequent attacks. The setup looked increasingly promising two weeks ago when both US crude (WTI) and Brent crude rallied around 5% on Friday the 13th leading into a weekend of uncertainty regarding how...
As we can see on the daily TF, every, i mean every bullish fvg is respected and gave a potential buy oportunity. Now that the last fvg was ignored, we change the bias to bearish and waiting for a retracement in the bearish fvg for a possible entry
stoplose : 89.95
entry : 88.64
tp 1 : 80.38
tp2 : 76.46
note: now the price go to finish wave c
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Overnight US API inventories continued to decline, indicating that there is a certain recovery in demand, but as the market digested the short-term stimulus impact of the situation in the Middle East on crude oil, gradually returned to the normal supply and demand pattern, relatively high bullish profit-taking, technically, the European and American trading...
A few weeks ago, we expressed our bewilderment at the U.S. administration and its handling of the oil stockpiles. Despite oil plummeting below $70 during the summer, officials did not take the initiative to refill the Strategic Petroleum Reserves (also canceling plans to buy oil in July 2023), prompting us to speculate about what trick the administration could...
Continuation of the previous analysis. Hope you guys made good profit trading.
Channel pattern
Shortsetup target
Target : 85
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Oil price trading stabilizes at the level of 84.55 after the strong decline witnessed yesterday, and we are likely to break this level to open the way for a continuation of the downward correction during the coming sessions, remembering that our next target reaches 81.20.
Moving average 50 continues to support the proposed bearish wave, taking into account that...
Moving exactly as forecasted in the previous update(see attached post)
Looking for further downside into wave 3.
As always feel free to let me know in the comments what you're thoughts for Oil are!
Trade Safe!
The U.S. Department of Energy abandoned its original position and relaunched the Strategic Reserve Replenishment Program. Oil prices have been falling. However, the conflict in the Middle East has a greater impact on the fluctuation of oil prices. Once the conflict escalates further, the price of crude oil will exceed 100.
The short-term trend of crude oil was...
Oil prices have continued to decline, marking the third consecutive session of losses. This decline is attributed to a series of sluggish economic data releases from Germany, the eurozone, and Britain, which have raised concerns about energy demand. Brent crude futures dropped by 2%, down $1.76 to $88.07 per barrel, while U.S. West Texas Intermediate crude futures...
Th oil market that might present a potential opportunity for those who are interested in shorting oil. Please note that this opportunity should be approached with caution, as market dynamics can be unpredictable.
Over the past few weeks, we have witnessed a significant drop in oil prices, primarily driven by Russia's decision to ramp up its oil exports. As a...
Hey Oil Traders! 🤟
Oil is at a critical S/R level of $88, and it's anyone's game right now. 🎯
📈 Recent Trades: Went long under $70 and short at the $93 top. Nailed it! 🎉
🔮 Next Moves: It's a 50-50 toss-up. Could go to $93 or drop to $82. 🪙
🤷♂️ Why I'm Not Trading: With such uncertainty, why risk it? There are better setups out there. 🎣
📊 Other Setups: If...
