Bearish reversal?WTI oil (XTI/USD) is rising towards the pivot which acts as a pullback resistance and could reverse to the pullback support level.
Pivot: 709.24
1st Support: 68.44
1st Resistance: 72.88
Risk Warning:
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Bearish drop?WTI oil (XTI/USD) is reacting off the pivot which has been identified as an overlap resistance and could drop to the 1st support level which acts as a pullback support.
Pivot: 71.23
1st Support: 70.03
1st Resistance: 72
Risk Warning:
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Market Analysis: WTI Crude Oil Eyes RecoveryMarket Analysis: WTI Crude Oil Eyes Recovery
Crude oil is recovering and might rise toward the $73.85 resistance zone.
Important Takeaways for Oil Price Analysis Today
- Crude oil is recovering losses and trading above the $70.50 support.
- There was a break above a connecting bearish trend line with resistance near $70.00 on the hourly chart of XTI/USD at FXOpen.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price found support near the $68.15 zone against the US Dollar. The price formed a base and started a recovery wave above $70.00 and the 50-hour simple moving average.
The bulls were able to push the price toward the 50% Fib retracement level of the downward move from the $75.61 swing high to the $68.13 swing low. Besides, there was a break above a connecting bearish trend line with resistance near $70.00.
The hourly RSI is near the 70 level, but the price is struggling near $71.85. The next resistance is near the 61.8% Fib retracement level of the downward move from the $75.61 swing high to the $68.13 swing low at $72.75.
A clear move above the $72.75 could send the price toward the $73.85 resistance. Any more gains might send the price toward the $75.60 level. Conversely, the price might start a fresh decline from the $71.85 resistance.
Immediate support sits near the $70.50 level. The next major support on the WTI crude oil chart is $68.15. If there is a downside break, the price might decline toward $66.00. Any more losses may perhaps open the doors for a move toward the $65.00 support zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Falling towards 38.2% Fibonacci support?WTI oil (XTI/USD) is falling towards the pivot which is a pullback support and could bounce to the 61.8% Fibonacci resistance>
Pivot: 71.28
1st Support: 69.93
1st Resistance: 73.77
Risk Warning:
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Potential bullish rise?WTI oil (XTI/USD) has reacted off the pivot which has been identified as an overlap support and could rise to the 1st resistance which is a pullback resistance.
Pivot: 69.90
1st Support: 68.16
1st Resistance: 72.36
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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Falling towards 50% Fibonacci support?WTI oil (XTI/USD) is falling towards the pivot and could reverse to the 1st resistance which has been identified as pullback resistance.
Pivot: 73.01
1st Support: 70.37
1st Resistance: 77.51
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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Bullish reversal off overlap support?WTI oil (XTI/USD) is falling towards the pivot which is an overlap support and could reverse to the pullback resistance level.
Pivot: 74.75
1st Support: 73.07
1st Resistance: 78.53
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Potential bullish bounce?WTI oil (XTI/USD) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance level which acts as a pullback resistance.
Pivot: 69.90
1st Support: 67.81
1st Resistance: 73.04
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
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Bearish drop off pullback resistance?WTI oil (XTI/USD) has reacted off the pivot and could drop to the 38.2% Fibonacci support.
Pivot: 72.56
1st Support: 70.33
1st Resistance: 74.76
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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Bearish reversal?WTI oil (XTI/USD) is rising towards the pivot and could reverse to thee 61.8% Fibonacci support.
Pivot: 72.56
1st Support: 68.16
1st Resistance: 75.18
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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WTI OIL📊 #XTIUSD
⏱ TIME: 1w
📝The price has dropped a lot, there is an important range ahead, $63 (blue box), it seems that it can have an upward movement from this range.
⭕️risk: high
📍buyzone: 64.30 - 62.11$
📌TP1: 72 $
📌TP2: 77 $
⛔️: If this range is lost, the analysis will fail and I will update the analysis
Heading into 38.2% Fibonacci resistance?WTI oil (XTI/USD) is rising towards the pivot which acts as an overlap resistance and could reverse to the 1st support identified as a pullback support.
Pivot: 75.42
1st Support: 72.62
1st Resistance: 77.51
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
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Potential bullish rise?WTI oil (XTI/USD) is reacting off the pivot, acting as an overlap support, and could rise to the 1st resistance.
Pivot: 75.31
1st Support: 72.63
1st Resistance: 78.30
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Market Analysis: Oil Prices Signal More UpsidesMarket Analysis: Oil Prices Signal More Upsides
Crude oil prices climbed higher above $76.00 before the bears appeared.
Important Takeaways for Oil Prices Analysis Today
- Crude oil prices extended gains above the $76.00 and $77.00 resistance levels.
- There was a break below a key bullish trend line with support at $75.80 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price started a major upward move from $71.35 against the US Dollar. The price gained bullish momentum after it broke the $73.60 resistance.
The bulls pushed the price above the $75.00 and $75.80 resistance levels. The recent high was formed at $77.18 and the price started a downside correction below the 50-hour simple moving average. The RSI dipped below the 50 level and the price broke the 23.6% Fib retracement level of the upward move from the $71.34 swing low to the $77.18 high.
There was also a break below a key bullish trend line with support at $75.80. Immediate support on the downside is near the $75.00 level.
The next major support on the WTI crude oil chart is near the $74.25 zone or the 50% Fib retracement level of the upward move from the $71.34 swing low to the $77.18 high, below which the price could test the $73.60 zone.
If there is a downside break, the price might decline toward $72.70. Any more losses may perhaps open the doors for a move toward the $71.35 support zone.
If the price climbs higher again, it could face resistance near $75.80. The next major resistance is near the $77.20 level. Any more gains might send the price toward the $78.80 level.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Falling towards 50% Fibonacci support?WTI oil (XTI/USD) is falling towards the pivot which acts as an overlap support and could bounce to the pullback resistance.
Pivot: 75.31
1st Support: 73.99
1st Resistance: 77.28
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
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Bearish drop?WTI oil (XTI/USD) has reacted off the pivot and could potentially drop to the pullback support.
Pivot: 77.16
1st Support: 75.92
1st Resistance: 78.23
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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Heading into 38.2% Fibonacci resistance?WTI oil (XTI/USD) is rising towards the pivot and could reverse to the pullback support.
Pivot: 75.95
1st Support: 72.88
1st Resistance: 77.55
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Crude Oil (XTIUSD) Make or Break LevelAs per my analysis WTI Crude Oil is at make or break level. 72.47 is now a trend live of 3 month candle low, if it breaks then we can expect for more downside up to 68.40. If price sustained and take support from 72.47 the we can see upside move to 82.08.
Note: This is my personal analysis, only to learn stock/commodity market behavior. Kindly do your analysis/ research to take any trade. Thanks & Regards.
Market Analysis: Oil Price Takes HitMarket Analysis: Oil Price Takes Hit
Crude oil is showing bearish signs and might decline below $75.00.
Important Takeaways for Oil Price Analysis Today
- Crude oil prices failed to clear the $78.20 region and started a fresh decline.
- There was a break below a connecting bullish trend line with support at $77.50 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to clear the $78.20 resistance zone against the US Dollar. The price started a fresh decline below the $77.00 support.
There was a break below a connecting bullish trend line with support at $77.50. There was a steady decline below the 50% Fib retracement level of the upward move from the $74.23 swing low to the $78.25 high.
The pair is now consolidating below the 50-hour simple moving average. Finally, the price tested the 61.8% Fib retracement level of the upward move from the $74.23 swing low to the $78.25 high.
If there is a fresh increase, it could face resistance near $77.00 and the 50-hour simple moving average. The first major resistance is near the $78.20 level. Any more gains might send the price toward the $79.50 level. Any more gains might call for a test of $80.00.
Conversely, the price might continue to move down and revisit the $75.20 support. The next major support on the WTI crude oil chart is $74.20.
If there is a downside break, the price might decline toward $73.50. Any more losses may perhaps open the doors for a move toward the $72.50 support zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Bearish reversal for the WTI oil?The price is rising towards the pivot which has been identified as a pullback resistance and could reverse from this level to the pullback support.
Pivot: 80.83
1st Support: 77.50
1st Resistance: 83.49
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.