BLACKBULL:WTI TVC:USOIL FOREXCOM:USOIL FX:USOIL GBEBROKERS:USOIL The overall trend of oil is still rebounding from a decline. The upward pressure currently existing above is at 80.56. However, the market never starts to rise after a rough bottoming, so the operation is still based on the reference conditions of yesterday's high and then the market...
Oil found a strong support zone near 77.8 From the graph it is clear that the price has reacted in this area in the past as well. On the left side of the chart, the price tested this zone 4 times and turned back up. It's a risky trade, but there's a chance it will go up again in the short term and it's consistent with previous moves. Resistance will be found...
Wave “4” traveled a greater distance than I had anticipated. At the moment I expect a small update of the 78.80 low and the beginning of the upward movement with the aim to reach the resistance area of 84.42. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market's volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
Oil fundamentals by seeking alpha i cant copy and paste go and see the article and diagram for yourself seekingalpha.com
WTI oil is rising towards a resistance level which is a pullback resistance that is slightly above the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 80.06 Why we like it: There is a pullback resistance that is slightly above the 38.2% Fibonacci retracement. Stop loss: 81.56 Why we like it: There is a pullback resistance...
WTI Oil (USOIL) eventually did give us the bearish break-out trade as per our last outlook (April 29, see chart below) following the first 4H Death Cross in 7 months and easily hit our 78.00 Target: As you can see, the expected Channel Down was formed and the price has been consolidating on the Higher Lows trend-line and the 1D MA100 (green trend-line) for 8...
Usoil is currently at a 50/50 level where we both have the bullish and bearish scenario in play for now we wait for confirmation
Crude oil is currently in this bearish channel. We saw rejection earlier of the key fib levels. I would look for another sell opportunity if we reach the higher fib levels for an intraday trade before 1130am EST. Share your thoughts. The Professor
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 After breaking below the last major low marked in red at $84.5, OIL has been overall bearish , trading within the rising channel in blue. 📈 For the bulls to regain control, a break above the last major high marked in blue is needed. 📚 Meanwhile, OIL would be bearish...
We're looking at the USOIL market and our analysis shows signs of a short-term downtrend. Here's why: COT Reports: The latest Commitment of Traders (COT) reports reveal that the behavior of participants labeled as "Commercials" is most characteristic of a bear market. CFD Market Positioning: Oil traders in the CFD market are shifting their positions, with most...
The USOIL has recently signaled a bearish breakout from its previously bullish channel. Additionally, there's notable evidence of selling pressure around a highlighted resistance level, suggesting a reversal in trend. As a result, we anticipate a continuation of the bearish trend towards a significant support level, which has previously shown considerable buying interest.
Oil prices have now entered a buying range. People who were long oil started buying. The target is above 78.3.
Bullish indications: Inverted head and shoulder pattern break out. Resistance broken at 78.96 Major support respected at 76.85 Bullish divergence in 4 hr time frame Double bottom formation in day time frame Fib level 0.5 respected from the bottom rally in day time frame. Trade plan bias long @ 79.17 SL:78.16 TP1:80.30 TP2:81.26
Dear Traders, Oil completed AB=CD pattern and it is in course of big bullish move. We need more liquidity and volume for price to continue the growth. In coming days, we expect price to hit 85 first and then 90; if price breakthrough that region then we will have a strong bullish price movement which will lead price to hit our final target. Good luck and happy trading.
Crude oil began to rise sharply yesterday as geopolitical conflicts intensified and the situation in the Middle East became tense again. Both API and EIA reserves are negative this week, which is another good signal for crude oil. The upside of gold continues to expand with the support of data and geopolitical conflicts. At present, MACD is in the positive zone,...
Oil prices fell early Tuesday following a report that U.S. inflation increased more than anticipated, diminishing prospects for a reduction in U.S. interest rates. Meanwhile, OPEC maintained its positive demand forecast for 2024. West Texas Intermediate crude for June delivery decreased by $0.47 to $78.65 per barrel, and July Brent crude, the international...