WTI buy just wiped outU.S. DOLLAR / WTI CRUDE OIL forum
WTI buy just wiped out
USOIL I am set positions For Buy who's Buying side with me?
USOIL Whos selling?
USOIL The Hourly is in Bullish (directional) Market Bias. After the strong rally, an Inside Day pattern formed for a market pause with no clear direction. Price action is consolidating until a true (and not a false) breakout from the pattern's high at 67.55 or low at 66.78. Watch for the formation of an M-shaped pattern whenever price action is near the Pivot High at 67.55 (with a red arrow above the candle).
If the bears do a breakout at the Inside Day's low of 66.78, they can drop more for a pullback towards 66.51 through Mean Reversion, then back up again.
WTICOUSD to understand the data. Use Google Lens to copy the data. Plug it into Chat GPT and ask it to analyse the data. It will then provide a summary. financialjuice.com/images/9016862.png
Key Takeaways
Short-term (WoW): Most petroleum products increased in inventory, suggesting less demand pressure or increased production/imports.
Year-over-Year Trends:
Crude is stable, gasoline is balanced, but distillates and heavy fuels are significantly down, implying refining or transportation bottlenecks.
SPR depletion continues, although slowly.
Total commercial petroleum stocks are down 3.4% YoY, a potentially bullish signal for prices if demand remains steady or rises.
USOIL Negative news for Oil today with increased US oil inventory and decreased demand. So, is this increase going to sustain??
WTICOUSD short for a quick bounce to 67.66
USOIL Sell Crudeoil at cmp 67.30 Tgt 66.60 SL 68
USOIL Anyone else in long position?