WTI is heading towards $96 if $89 resistance breaksAlthough the price has broken out of the wedge it is trying to breakthrough the $89 resistance. If that breaks then next price target 🎯 is $96. Do think it will break through the $89? 👀🕐🎯Longby JK_Market_Recap3
USoil has gone up in five waves, will it continue to rise? Crude oil prices surged again last week, hitting a new high in more than five months. Behind this rise is the market's optimistic expectations for economic growth in the United States and China, which is expected to stimulate crude oil demand. Data show that OPEC oil production fell slightly in March, and attacks on Russian refineries also put some pressure on supply, making supply even tighter. In addition, API and EIA data released on Wednesday further benefited the market, exceeding analysts' expectations and providing support for crude oil bulls. Let’s break down the fluctuation range of waves 1 to 5. Wave 1 is from US$71.52 to around US$78.18, with an increase of US$6.66. Wave 2 is from US$78.18 to US$75.50, with a decrease of US$2.68. Wave 3 is from 75.50 to 83.12. USD, with an increase of $7.62, while wave 4 fell from $83.12 to $80.31, a decrease of $2.81, and wave 5 fell from $80.31 to $87.63, with an increase of $7.32 A storm may be coming to the oil market, according to new research from Bank of America (BofA). The bank has raised its 2024 Brent crude oil and West Texas Intermediate crude oil price forecasts, analyzing the latest market trends and key data, indicating that oil prices may reach a high of around $95 per barrel. In addition, the official crude oil selling price announced by Saudi Aramco around the 5th of each month is also regarded as an important factor in determining the trend of crude oil. Based on various signs, the crude oil market is currently facing a situation of tight supply and continued recovery in demand, and investors are unanimously optimistic about the rising trend of oil prices in the future. Longby Gavin-analystUpdated 5
USOIL Expect recovery ahead of rising momentumLONDON (Reuters) -Global oil benchmark Brent steadied above $91 a barrel on Monday, reducing early losses prompted by Israel withdrawing more soldiers from Gaza and committing to fresh talks on a potential ceasefire in the Middle East conflict. Brent crude futures were down 16 cents, or 0.2%, at $91.01 a barrel by 1335 GMT. U.S. West Texas Intermediate crude was down 9 cents, or about 0.1%, at $86.82. Both benchmarks lost more than $2 earlier in the session. Oil prices gained about 4% last week on escalating geopolitical tensions. Israel said on Sunday it had withdrawn more soldiers from southern Gaza. The country has been reducing troop numbers in Gaza since the start of the year to relieve reservists and is under growing pressure from allies to improve the humanitarian situation in Gaza. Meanwhile, ceasefire talks were revived as Israel and Hamas sent teams to Egypt for talks ahead of the Eid holidays, though a Hamas official on Monday said no progress was made at a new round of talks. Among the factors affecting oil's demand outlook, a U.S. employment report on Friday suggested the economy ended the first quarter on solid ground, which could prompt the Federal Reserve to delay interest rate cuts this year. Investors will be scouring consumer price index data from the U.S. and China this week for further clues on the timing of possible Fed rate cuts and to gauge the economic health of the world's top two oil consumers. The market at present does not have enough about it physically to warrant a charge beyond $90 a barrel to $100, said John Evans at broker PVM. "But given the tinderbox nature of the current geopolitical crisis arenas of the Middle East and Ukraine/Russia and a keener interest from big money, the downside potential is also limited at present," he added.Longby Phenol_fxUpdated 119
1 week free premium signalsGuys sell oil it's about to tank ... people of earth this a 1week free signals just taste and see how precise one can be with sound simple really simple cyclical analysisShortby THEEIGHTWONDER1
USOIL: Crude oil operation strategy Crude oil is likely to continue to rise next week, but there are still short opportunities, the operation plan has been given in the chart, this week to participate in crude oil orders are very few, the main reason is to focus all on gold, there is a good opportunity to enter the channel next week will prompt everyone!Longby HectorBrown1Updated 6
0408-0412 USOIL Weekly OutlookHello traders, USOIL is still on a smiling curve. No worry about the trend as the middle east conflict is still ongoing. Looking for a new swing up to test weekly structure in the next few weeks. Price could speed up to rise after a small correction down to test weekly EMAS on this chart. GOOD LUCK! LESS IS MORE!Longby FUNTRADER-Vera5
#USOIL # WTI analysisThis past week, the price gave us a hard time determining the peak of wave [ B]. Nonetheless, when compared to last week's update below, the outlook remains on track. I suppose we've just finished the predicted ABC zigzag in wave (Y), with wave A being an imperfectly shaped leading contracting diagonal and wave C being a nicely shaped ending expanding diagonal. As mentioned last week, diagonals are tough to pin down. When there are two of them, one expanding in the end, it can be a nightmare for an Elliottwave trader (much alone a conventional one). An indirect sign of the expanding diagonal is that by the conclusion of the week, even our team's perspectives on the market had diverged. Those who are not sure in Elliotwaves began looking at imminent bullish possibilities, fearful of missing out. That is exactly how expanding diagonals would feel: destabilising the trading community and driving the great majority down the cliff. Having said that, our scenario is simply a scenario and must be confirmed in the next week. 🤞by Fomenka6
CRUDE OIL (WTI): Gap Should Be Filled 🛢️ We see a nice gap down on WTI. As always, there is 80% chance that the gap will be filled. I already see an intraday price action confirmation. Goals: 86.6 / 87.4 ❤️Please, support my work with like, thank you!❤️ Longby VasilyTrader4421
Oil Markets Right Now; Predicting Future MovesHey Traders, The rollercoaster that has ensued on Oil Markets is a very interesting one. From absolute lows, to absolute highs, every corner of the Market more or less has been explored. The picture around Covid in 2020 was bleak. Oil prices went below freezing and people were paying others to take their oil away, as it was more cost effective rather than paying to store it. This, was most certainly a fantastic time to buy and represented what was a completely sentiment sell off driven market. It was inevitable that everyone would again need oil at some point and having it at 0$ or less was just economically unfeasible. It was just a game of how low. After this, when war broke out, the energy crisis and the driving up of oil prices due to sanctions and increased demand caused an enormous rally and spike. This was the opposite situation to what had just occured, and rather than being a great time to buy, you'd have been better off short at highs. Again, it was very likely that the necessity of oil would lessen as things changed and the price would return to reality, it is more or less unfeasible similarly to having extreme low prices. Economies would just overproduce it and bring the price down with increased supply. As of late, we have found ourselves reading comments from Leaders of great oil consumers and OPEC about the stabilising of prices. This is a reasonable comment coming after reduced Chinese demand and increased US supply and sets the scene for the future and the talk around Oil prices going forward. On the face of it, we are downtrending mid term. Thus, a further low within the reduced demand sentiment would not be completely unexpected. We can look to plan long entries alike investors, taking lower prices at this current point in time. Weakness also in price action amongst local and historical areas also will determine any further falls and on the face of it, also looks reasonably likely. Nonetheless, a reasonable Pullback within the current move down would be ideal for short entries as price has already fallen and you'd be short into support. Long entries, as shown, are preferred lower at key Price Action areas that are labelled. In any case, trade small inline with sentiment risk always.07:01by WillSebastianUpdated 3316
Buy OilsHi guys, WTI went ahead as our prediction on 13 December. Now we expect to go down 70 level and after that we will buy it long-term. Main target is 95-100. Be careful today because of the first important news of 2024Longby takeprofitwithusUpdated 11
XTIUSD LONG TERM Buying TRADE ANALYSISHello Traders In This Chart XTIUSD HOURLY Forex Forecast By FOREX PLANET today XTIUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartsLongby ForexMasters20001
USOIL Will Collapse! SELL! My dear friends, USOIL looks like it will make a good move, and here are the details: The market is trading on 86.67 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear V signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 84.99 Recommended Stop Loss - 87.55 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK Shortby AnabelSignals118
Time of a big retrace (to the upside)Oil is ready for a retrace to the upside. - it comes down to support - bullish div on the RSI - break out of a channel - blue pivot signal on the 3D chartLongby ValerianKUpdated 119
USOIL - long idea - target: 95Friends. I am trading USOIL for a long time. It is very hard to analyse it nowadays because of situation around energy in the world. But what i see, price traded in channel, now channels top trend line broken and as i see price fixed here for future pump. My target around 95. Longby traderstube2
Crude oil pays attention to short-term adjustments Crude oil currently continues to maintain a good oscillatory upward trend along the short-term moving average on the weekly trend. It also maintains a good oscillatory upward trend on the daily trend. Although it has gone out of a slight rise and fall, the strong technical form is still the same. Nothing has changed. There is a certain degree of divergence in the 4-hour trend. The K-line has begun to gradually break through the short-term moving average. There may be a certain degree of adjustment in the short-term trend. Shortby Donald-king112
USOILwe invalidated weekly bearish momentum now we have monthly bulllish,weekly bullish,daily bullish as well i see $95 approachingLongby Showboi-fx228