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During the US trading session on Friday, oil prices fluctuated narrowly higher, with USOIL trading near $61.98 per barrel. After a sharp decline in the previous session, prices rebounded slightly on Friday, forming a weekly pattern of rallying followed by a pullback. The easing of global trade tensions has alleviated market concerns about the global economy and oil demand, supporting prices; however, oversupply sentiment remains a headwind.
On the daily chart, the medium-term trend is downward, with moving averages suppressing rallies. After hitting a low of 55.20, prices have oscillated between bullish and bearish sentiment, forming a bearish flag continuation pattern in its infancy. Attention should focus on whether prices can break above the flag's upper trendline—medium-term consolidation is likely to be followed by a decline to the 50 level.
In the short term (1H chart), the consolidative decline continued to test the 60 support level, where prices rebounded modestly. Moving averages still cap upside potential, keeping the short-term trend downward. While the MACD indicator has formed a bullish cross below the zero line, indicating slightly strengthened bullish momentum, prices are expected to rise briefly before encountering resistance near 63.50 and reversing lower.
Overall, next week’s trading strategy for crude oil should prioritize shorting on rallies, with a secondary focus on buying on pullbacks. Short-term resistance lies at 63.5–64.0, while support is at 60.5–60.0.
USOIL
buy@61.50-62.00
tp:63.00-63.50
Investment itself is not risky; it is only when investment is out of control that risks occur. When trading, always remember not to act on impulse. I will share trading signals every day. All the signals have been accurate without any mistakes for a whole month. No matter what gains or losses you've had in the past, with my help, you have the hope of achieving a breakthrough in your investment.👇🏽👇🏽👇🏽
During the US trading session on Friday, oil prices fluctuated narrowly higher, with USOIL trading near $61.98 per barrel. After a sharp decline in the previous session, prices rebounded slightly on Friday, forming a weekly pattern of rallying followed by a pullback. The easing of global trade tensions has alleviated market concerns about the global economy and oil demand, supporting prices; however, oversupply sentiment remains a headwind.
On the daily chart, the medium-term trend is downward, with moving averages suppressing rallies. After hitting a low of 55.20, prices have oscillated between bullish and bearish sentiment, forming a bearish flag continuation pattern in its infancy. Attention should focus on whether prices can break above the flag's upper trendline—medium-term consolidation is likely to be followed by a decline to the 50 level.
In the short term (1H chart), the consolidative decline continued to test the 60 support level, where prices rebounded modestly. Moving averages still cap upside potential, keeping the short-term trend downward. While the MACD indicator has formed a bullish cross below the zero line, indicating slightly strengthened bullish momentum, prices are expected to rise briefly before encountering resistance near 63.50 and reversing lower.
Overall, next week’s trading strategy for crude oil should prioritize shorting on rallies, with a secondary focus on buying on pullbacks. Short-term resistance lies at 63.5–64.0, while support is at 60.5–60.0.
USOIL
buy@61.50-62.00
tp:63.00-63.50
Investment itself is not risky; it is only when investment is out of control that risks occur. When trading, always remember not to act on impulse. I will share trading signals every day. All the signals have been accurate without any mistakes for a whole month. No matter what gains or losses you've had in the past, with my help, you have the hope of achieving a breakthrough in your investment.👇🏽👇🏽👇🏽
We share at least 3 - 5 free signals every day, with a monthly return of 300% - 500%. If you want to get accurate signals every day.Click the link to enter my Telegram channel.
t.me/+yWjb0JJb8NA3YzFk
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
We share at least 3 - 5 free signals every day, with a monthly return of 300% - 500%. If you want to get accurate signals every day.Click the link to enter my Telegram channel.
t.me/+yWjb0JJb8NA3YzFk
t.me/+yWjb0JJb8NA3YzFk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.