Crudeoilanalysis
CRUDE OILHELLO GUYS THIS MY IDEA 💡ABOUT CRUDE OIL is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the Buyers from this area will be defend this Long position..
and when the price come back to this area, strong Buyers will be push up the market again..
uptrend + Support from the past + Strong volume area is my mainly reason for this long trade..
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TURTLE TRADER 🐢
Crude Oil (ICE) Brent - "Big-picture" Bullish!Crude Oil (ICE) Brent - "Big-picture" Bullish!
A proportional countertrend retreat should set the stage for the next leg of the advance.
It's way too early to get a read on a potential shape for Supercycle wave (b) , but it should last for years and potentially retrace as much as 90%-105% of the wave (a) decline.
Stay tuned!
Oil is the keyOil has respected the 92 support and looking at the current geopolitical situation, it seems bullish . Now for a good entry , the 98 level could be good for a long entry even for long term holding as it might go higher this time due to geopolitical situationss, Entry around the price of 100 dollars can also be a good entry with stop loss around 99
Long-term oil analysis #oilsome notes:
1_In World War II, because the United States won the war, it said that my dollar should be the reference currency
2_The United States did not fulfill its contract and did not store gold against the dollar
3_European countries realized and wanted to buy gold under the same law for every $ 35 an ounce of gold
4_Meanwhile, Arab countries imposed sanctions on Europe and oil prices rose
5_Now European countries needed dollars to buy oil
6_If oil prices are low, it is very dangerous for
the United States because negative inflation in the United States will form and stagnate.
Because the United States runs its country with
debt, it's the best inflationary position
7- America wants a lot of production so that the
industries will stop working and there will be an increase
XTIUSD LONG - Buy Entry - H4 ChartXTIUSD LONG - Buy Entry - H4 Chart
Crude Oil Long
Buying Zone
Symbol: XTIUSD
Timeframe: H4
Type: BUY
Entry Price: Buying Zone
Major Resistance @ 118.125
Major Support @ 101.031