Technical analysis of crude oil Daily resistance 78.4, support below 72.7 Four-hour resistance 76, support below 75-73.8 Crude oil operation suggestions: Crude oil fell first and then rose last week. The weekly line is in a wide range of fluctuations, and there is no strong unilateral trend. In the form of repeated tug-of-war between long and short positions, pay...
Hello traders! ‼️ This is my perspective on USOIL. Technical analysis: Here we are in a bearish market structure from daily timeframe perspective, so I look only for short position. I want price to go a little bit higher to fill the imbalance and then to reject from bearish order block + psychological level 79.00. Like, comment and subscribe to be in touch with...
Technical analysis of crude oil Daily resistance 74.2, support below 72.7 Four-hour resistance 73.7-74.2, support below 72-71 Crude oil operation suggestions: Crude oil continued the recent extremely weak short-term unilateral downward rhythm yesterday, with the Asian and European sessions showing a downward trend, and the US session suppressed and fluctuated...
World oil fees extended 2% at the buying and selling consultation on June 6, after the European Central Bank (ECB) determined to reduce hobby fees, elevating hopes that americaA Federal Reserve (Fed) will comparable action. Meanwhile, ministers from the Organization of the Petroleum Exporting Countries (OPEC) and its allies, called OPEC+, reassured traders that...
Hey there on 1hTF the USOIL has looks further upside From 73 and continue moving forward for again upside
The price may rise to $82 but could also fall to about $70. 101.9 million barrels of oil will be consumed worldwide per day. By next year, the oil markets appear to be oversupplied. Highlights Lower Russian output and more demand brought on by China's reopening could help oil prices. Low demand and a bleak macroeconomic outlook for China When the...
The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, appear to be waving goodbye to their long-held pursuit of $100-a-barrel oil. This strategic shift marks a significant change for the oil cartel, which has traditionally aimed to manipulate production levels to influence global oil prices. A New Reality Sets In For...
The recent OPEC+ meeting on June 2nd, 2024, resulted in a significant decision to extend production cuts. This move by the oil cartel, which includes major oil producers like Saudi Arabia and Russia, aims to navigate a complex economic climate and influence global oil prices. Here's a breakdown of the key takeaways from the meeting: • Extended Cuts of 3.66...
Crude oil technical analysis Daily resistance 77.5, support below 74.4 Four-hour resistance 77.5, support below 76 Crude oil operation suggestions: The overall price of crude oil continues to fluctuate downward above the 78 mark, continuing the recent trend of suppressing short positions. Today, the upper resistance focuses on the starting point of the hourly...
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Hey there on 4hTF the USOIL has Looks After Reach Out 78 Then We Can Also set our Mind in Sell Area So If you are looking for again short then entry 78 and hold 73
**Monthly Chart** Last month candle closed bearish after testing the low of key reversal candle of the previous month and started moving lower. The next target on monthly is around 71 level and then 63 level respectively. **Weekly Chart** Last week's candle closed as a bearish key reversal suggesting a continuation of the downtrend move. **Daily Chart**...
Crude oil technical analysis Daily resistance 79.2-83.4, support below 77.5 Four-hour resistance 79.2-80, support below 78.5 ✅Crude oil operation suggestions: Crude oil fell back after reaching a high yesterday. It failed to continue its strong performance after breaking through 80.0. The small negative line retreated and showed signs of seeking support at a...
USOIL: Current oil costs are widening their fluctuation range. The short-time period upward fashion because of climate facts in North America and Texas reasons short-time period worries approximately oil output on this region. However, withinside the future, oil costs will nevertheless generally tend to lower and watch for bulletins from OPEC+. We can see that...
Oil continues to buy at low levels NYMEX:MCL1! NYMEX:CL1! BLACKBULL:WTI
Hey there on 2hTF the USOIL has looking today sell scenario can be retest from 79.00 79.50 can there again slip downside continue will looks for next support 77.50
USOIL: Short-time period oil fees are at the manner to convalescing to BSE:EIGHTY because the marketplace is presently watching for the subsequent OPEC+ meeting. However, the chance of a lower is fantastically excessive due to the fact OPEC+ nations have nearly all showed the growth in production. This will probably reason oil fees to drop even lower. Consider...
Looking at the hourly chart of crude oil, oil prices hit 76.70 to gain support. The price rebounded during the day and is now around 78.2. Judging from the strength of the two waves of decline and then rebound, the momentum of the bulls has strengthened. However, oil prices are still suppressed by the moving average system, and the current price is near the upper...