WTI oil is opening with green gap this week, Probably it’s going to go down to 78.9$ level this week testing this level. Therefore we will wait to test this level then take another look at chart.
✅USOIL is going up from the Horizontal support level of 81.76$ Because it was oversold and I think that we will see a Further local move up LONG🚀 ✅Like and subscribe to never miss a new idea!✅
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...
Oil Dropped heavy last week as we began Q4. Ultimately looking for higher prices for this quarter and as we enter the coming week. I talk about my favorite prices and reflect on past price behavior.
WTI Crude Snaps Two-Day Slump Amid Shifting Global Dynamics and Weaker USD The West Texas Intermediate (WTI) crude oil benchmark showed signs of resilience, bouncing back from a two-day decline to reach $82.85 per barrel, marking a 0.40% gain. This uptick came as the US Dollar (USD) experienced a retreat, ending its 12-week rally. While robust US job growth...
Hey traders, Strong jobs data caused some bounce for the USD. But we are seeing some limited reaction as a lot of hawkish bets can be priced in. So I am even prepared on the reversal patterns. I like gold down here around 1800; its a nice technical support. In this video I will also also look at crude oil, eth and pound. Have a nice weekend. Grega ps. see you...
On Tuesday, we touched on the subject of corporate forecasts in the oil market portrayed in the media. In fact, we remarked how the recent announcements of ultra-bullish forecasts were very reminiscent of the 2022 oil market top and that we were pretty skeptical about the rally's sustainability (though we warned about this on a different platform three weeks...
Have you seen that sell-off on WTI?! The market was falling like crazy, breaking one key level after another. Now the price is on a key daily horizontal support. I see a nice double bottom on 1H time frame that can give us a perfect confirmation to buy. Wait for 1H candle close above 82.92 - its neckline. Then buy aggressively or on a retest with goal -...
Pair : US Oil - Crude Oil Description : Completed the Breakout of the Corrective Pattern " Exp FIAT " and Daily Ascending Trendline in Short Time Frame if it Retest then it will Reject from the Trend Line and if it Breaks then it can Reject from Previous Support Zone
Update:- USOIL is losing its momentum but it looks like it will retrace back before going below 89$. Detailed analysis is marked on the chart. Note: This is purely based on my analysis and not a financial advise.
Crude Oil - Elliott Wave Count Crude appears to be completing wave 4 near 78.5$, with an impulse wave 5 up move expected. Remember that if the price drops below 78, it is considered invalid. This information is for educational purposes only, so trade with caution. MCX:CRUDEOIL1! NYMEX:CL1! TVC:USOIL MCX:CRUDEOILM1! CAPITALCOM:OIL_CRUDE FX:USOILSPOT...
The Canadian dollar has steadied on Thursday. In the North American session, USD/CAD is trading at 1.3728, down 0.12%. The Canadian currency has stabilized after a nasty four-day slide, in which it declined 1.9%. The US dollar continues to look strong against the majors, as "US exceptionalism" continues to make the greenback attractive to investors. The Canadian...
TRADE DIRECTION: SHORT; as indicated by the downward trendline (red line) and the market structure. KEY LEVEL: Round numbers S&R with 50 ticks range between each level. TRIGGER SIGNAL: Broke bearish pennant with the confluence from 2 trend continuation candles (red arrows). RR: 1:1.7 SL: 88 Ticks TP: 150 Ticks
Previously at FxProfessor: ✔️Perfect Long: ✔️Perfect Short: News: Oil continues to tumble after previous session's slide Here's the scoop: 📉 Prices took a tumble, with Brent crude down $1.19 to $84.62 a barrel and WTI crude dropping $1.31 to $82.91. Ouch! 📉 Yesterday, we saw a massive $5 drop, the biggest in over a year. The reason? A gloomier economic...
This looks like it is poised to head back into a well established $70-$80 range (and then some!). Anticipated long-term USD strength, as well as extended Global economic weakness bodes well for an enduring price weakness outlook. Technically, Crude is at a major pivot, both, at the top of a rising daily channel, as well as at the top of a descending weekly channel...
Quick take/analysis, but consider scooping some low-risk crude contracts here (break above 84.84). Better demand zones are lower, but we've had a sizable downdraft into buy areas + are testing a key support/resistance area (~84-85), so those traders may be at our backs. The US dollar has finally taken a pause at the supply zone we ID’d in posts from earlier this...
Recently, more and more financial institutions have been upgrading their price targets for oil. Mostly, these forecasts were upward of $100 per barrel, with JP Morgan and some other financial entities forecasting prices as high as $150 in the coming months. About three weeks ago, we tweeted that these statements are very reminiscent of those made in the second...
Crude oil has been on the rise over the last view weeks, which is the main reason why inflation is still the main global problem, so we have seen some positive correlation between dollar and crude as speculators believe that rates will stay here higher for longer. Well, what’s interesting now is that after that after a lot of crude oil bull calls for 100 dollar...