USOIL Is Approaching A Decent Support AreaHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 69 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 69 support and resistance area.
Trade safe, Joe.
Energy Commodities
AbuDhabi TAQA to target 4.4 after crossing resistanceDaily chart, the stock (TAQA) crossed a rising small channel (GREEN area), and is still trading inside a bigger channel, and is most likely to cross the resistance (at around 3.70)
After crossing resistance (BLUE) line, the target will be 4.40
Technical indicators RSI and MACD are positive.
The Leap - D3The Leap competition is live and so is Pinchpips.
Focusing on the behemoth of OANDA:WTICOUSD and $OANDA:XAUUSD.
Not typical markets but testing swing zones on the instruments to check efficacy on a daily TF.
SZ are set for OANDA:WTICOUSD but price action determines entry
Currently ranked 2716.
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USOIL SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
We are going long on the USOIL with the target of 78.81 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
✅LIKE AND COMMENT MY IDEAS✅
Crude Oil (XTIUSD) Make or Break LevelAs per my analysis WTI Crude Oil is at make or break level. 72.47 is now a trend live of 3 month candle low, if it breaks then we can expect for more downside up to 68.40. If price sustained and take support from 72.47 the we can see upside move to 82.08.
Note: This is my personal analysis, only to learn stock/commodity market behavior. Kindly do your analysis/ research to take any trade. Thanks & Regards.
Saudi wants production cuts, America doesn'tAlthough everyone is cutting down production, even SHELL, we are seeing the narrative of higher prices for longer. OPEC wants to cut beginning October 2024 until 25.
This might be for a multitude of reasons, which makes it quite unclear what the goal is. After falling demand and easing in production, my narrative is that we might see prices fall instead of rise, even though we are trying to limit supply, I think markets are going to want to lower prices as energy scarcity becomes vulnerable and volatility will rise. Geopolitical risks has not eased.
US SPR is lower than a quarter of its peak in 2021. My bet of dropping prices lies on that. As well as Trump having 70% chance of coming into office, I expect a welcoming gift from MBS giving us discounts on gas!
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
8.3.2024 Oil Weekend Pre Market AnalysisIt's the weekend. I like to go out to my larger charts and clean off the entire chart and start analyzing the instrument for next weeks trading.
We know that price is going to move up or down from where it currently is located, so we just need to make up a game plan to trade it..
Looking out at the 4 hour, 1 hour, and 15 minute charts for our trend and target analysis. Then dialing it down to the 3 minute or 15 minute to look for an entry!
Caterpillar 344 After earnings ? Caterpillar Inc. (NYSE: CAT) has once again demonstrated its robust market presence, with its stock price soaring past $344 following the release of its latest earnings report. The industrial giant reported impressive financial results for Q1 2024, with total revenue reaching $15.8 billion and a basic earnings per share (EPS) of $5.601. This performance not only exceeded analysts’ expectations but also highlighted Caterpillar’s resilience and strategic growth in a challenging economic environment.
The company’s strong earnings were driven by increased demand across its construction, resource, and energy & transportation segments. Caterpillar’s ability to navigate supply chain disruptions and leverage its global footprint has been pivotal in achieving these results. The market responded positively, pushing the stock to new heights and reinforcing investor confidence in the company’s long-term prospects.
As Caterpillar continues to innovate and expand its product offerings, the future looks promising for this industry leader. Investors and market watchers will be keenly observing how Caterpillar capitalizes on its current momentum to drive further growth and shareholder value.
USOIL The Target Is UP! BUY!
My dear followers,
This is my opinion on the USOIL next move:
The asset is approaching an important pivot point 74.11
Bias - Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 75.64
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
West Texas Oil / Problems in the Middle East?Hey traders
We have oil here at critical zone will it break up or down?, a big pullback on middle east worries, I think things will calm down, and possibly we will get another leg drop, so I will be selling oil back down.
Please like comment and follow cheers
This chart material is for education purposes only / Demo account should be traded only.
Crude Steps and Forces- all rectangles are potential support/resistance with the last one blue being a probable exception
- the 3 marked with dots levels can also become support/resistance, especially the first bottom blueish one, but they can also become like milestones levels or steps in the evolution of the price
- the 2 green curves are also potential support/resistance acting as forces pushing the price up or down
This snapshot considers the bullish scenario where the price remains above 66, with potential reversal patterns to occur near the red rectangle zone.
USOIL BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are targeting the 74.35 level area with our short trade on USOIL which is based on the fact that the pair is overbought on the BB band scale and is also approaching a resistance line above thus going us a good entry option.
✅LIKE AND COMMENT MY IDEAS✅
CRUDE OIL (WTI): Support & Resistance Analysis
Here is my latest structure analysis and
important support & resistance levels to watch and trade on WTI Crude Oil.
Resistance 1: 78.5 - 78.8 area
Resistance 2: 80.2 - 80.5 area
Resistance 3: 82.8 - 83.7 area
Resistance 4: 84.0 - 84.5 area
Support 1: 74.6 - 75.2 area
Support 2: 72.4 - 72.8 area
Consider these structures for pullback/breakout trading.
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Crude Oil Steps In A Corrective RecoveryCrude oil is strongly stabilizing after a completed five-wave drop from the highs, so it's making a higher degree A-B-C corrective recovery. Current impulse up into wave A can be coming to an end at temporary 79-80 resistance area, from where may see a corrective setback in wave B before we will see a bigger recovery for wave C up to 81 – 83 strong resistance zone.