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Crudeoilforecast

Crude Oil (WTI) at ResistanceCrude oil is currently facing resistance on a 1-hour time frame. We've established an upper and lower zone for trading. On the weekly candle from last week, the price closed above the previous week's level, which indicates a possible uptrend towards higher levels around 83. If there is a significant gap in the price on Sunday, we should watch for how the price reacts at these levels before closing the gap. I'd appreciate your thoughts on this.
TVC:USOIL
by TheMotivationalProfessor
1
Brent above @$100 might not be a myth !Brent have two recent bottoms 1.June 2023 ($72) and 2. August 2023 ($82.5) and has rallied more than 33% since July. The rally still looks to be continuing without till 496, $98.5 and $100 very soon. Given the strong momentum buildup and supply cuts from OPEC+ has given the oil a due rally which the cartel was expecting since June 2023. Technically speaking levels of $126 are also on the charts as the commodity is breaking out of a Declining wedge pattern which was in formation from Jul 2022 to Jul 2023 a strong supply side pressure will be giving the commodity due advantage to rise above $100 to $125.65 as we can see.
TVC:UKOILLong
by chandakpulkit
WTI Light Sweet Crude Oil, 6/23/23For Friday, the 67.08 level can contain selling through next week, above which 73.28 attainable within a full week of activity, possibly yielding 76.98 within 2 - 3 weeks.   Upside Friday, 70.80 can contain session strength, while closing above 70.80 signals 73.28 within 2 - 3 days, able to contain buying through the balance of next week and the point to settle above for yielding the more meaningful 76.98 within 3 - 5 more days.   Downside Friday, closing below 67.08 indicates 62.14 longer-term support as a 1 - 2 week target, where the broader market can bottom out through summer activity.
NYMEX:CL1!
by SpecialeAnalysis
Crude Oil Continues to Gain ProfitsCrude oil fell sharply at the beginning of last week and fell to 63.6. The main reason for this abnormal phenomenon is that the demand for crude oil was affected by the economic recession. Based on the previous news, the main reason for the decline of US oil may be related to the recent news. Too light. After OPEC announced its production cut plan in early April, the expectations of the market bulls did not receive further support from the news. Last Friday, U.S. oil also rebounded and returned to above 70. Although technically it is expected to stop falling and rebound, the daily average system has crossed downwards, and the medium-term bearish trend has been strengthened. Therefore, it will be relatively difficult for U.S. oil to rebound technically in the future , If you want to rebound strongly, you must have the support of fundamentals, such as OPEC's further implementation of the production reduction plan. Combined with the trend of the daily line and the hourly chart, U.S. oil may choose to fluctuate strongly within the range at the beginning of the week. The lower part will first focus on the 70-line competition before testing. If it does not break through 70 at the beginning of the week, the tone will be stronger during the week. 72, and around 73 on the 10-day line, and even fell below 74 last week. But this also requires the support of favorable fundamentals. If the fundamentals do not come out with good news for a long time, then the bulls' expectations will fail, and the market may return to a weak state in advance. In terms of operation, this week, U.S. oil is conservative or chooses to wait and see. If you are aggressive, you can conduct short-term low-long and high-altitude operations around the 70-73 range. So let’s get down to business, every day we push real-time current price orders to prove our strength. At present, the daily operating profit is increasing. I believe that friends who come from experience have discerning eyes. After a period of communication and experience, as well as the verification of the market, I believe that the accuracy of the list can conquer all doubts and ideas. Contact me for free experience
TVC:USOILLong
by Prometheusinfinance