Crude oil weekly key reversal bar, made a new low closed towards high, 67.40-66.50 is 61.8% & 79.0% fib level, expecting retracement to this level for taking long position. stop loss below key reversal bar low i.e. 65.20, target: 73.70. if price breaks below the key reversal bar with increasing volume then next buying level is 64.30.
Dear Esteemed Members, There are several fundamental factors that could support the oil price reaching $76.09 per barrel, which is the highest level since November 2014. As the global economy rebounds from the pandemic, the demand for oil is expected to increase, especially in the second half of 2024. The International Energy Agency (IEA) projects that global...
The price of Oil was in a trading range between $72 and $85ish, this past week it broke down support and now is going to head lower, I suspect we can see $62ish at first level of support, but I think mid $50's is now on the table. Why? Elections are upon us and they want to make costs come down, so it looks like they are curbing inflation and thus justify more...
FA: Historically, when the Fed rate is lowered in the U.S., there is one very simple pattern - the collapse of commodities! Of course, there are nuances related to the rate of downgrade.... Prices do not start falling at once... most often there is a time lag from 2-3 months to 8 months. It is important to understand the following... The USA controls oil prices...
Last week I have been stressing that crude oil 74 is a one-hour bottom support and has not formed a new low and every day is building a bottom to push up the price which will be the rhythm of the correction and continue to rise! If you follow my advice then you will make at least $30 more profit! Many of my articles will be blocked but my prediction accuracy is...
Oil prices edged lower at the start of the week, as traders weighed the potential impact of ongoing Middle East tensions and softening demand from China. Brent crude, the global benchmark, dipped towards $79 a barrel, while West Texas Intermediate (WTI) hovered around $76. The recent decline follows a turbulent week for oil markets, marked by significant...
OILUSD forecast on August 13, 2024: WTI oil is under pressure from the war and DXY is decreasing. Currently, the oil price has risen from the $71 region back to the $80 area. It is likely that oil will experience a correction before continuing its upward trend. The trading trend today is BUY. Key levels to watch are: 76.5, 78, 80, and 82. Recommended orders:...
Hi fellow traders, XTIUSD is ready to make a move lower from the blue box after completing the ABC correction. Target the 67.86 level. Good luck and trade safe!
So we have been short term bullish since we took the Weekly SSL and seen a nice trade higher. I can imagine that we continue this today to take out some internal liquidity. These are the short term targets as long as we respect the 15min FVG GLGT
Pair : Crude Oil Description : Bullish Channel as an Corrective Pattern in Short Time Frame and Breakout of Upper Trend Line Break of Structure RSI - Divergence Completed " 12345 " Impulsive Waves and " AB " Corrective Waves Support Level
As this week has been short term Bullish I am looking for continuation today. At around NY open I would like to head down into the 1hr FVG and then show signs it wants to move higher towards the BSL that is marked
Nice ranged day on Monday leading me to think today won't be as expansive. Nether less I am looking for Bearish movement but I would like some sort of BSL to be taken meaning I am anticipating a retracement come NY open 0830est roughly. 15min FVG and the 2hr -OB are areas if price was to retrace to I would look for shorts. Targets are bellow the weekly ssl and...
We opened with a large Gap to the upside... So far we have not moved in any direction with any purpose. To stay bearish running into NY the DAILY -OB should be respected if we retrace back to that level. Closing the NWOG with a displacement candle would be advantageous for sell side to be taken and the two targets I have noted with the magnets.
We are nearing the end of the week and have had some nice movement heading lower.. I have marked out the Previous Day Wick ( PD Wick ) If price is to retrace today for NY this is where I would expect it to stop and head lower / consolidate at least. The Draw on Price are bellow : Daily +OB Daily EQL'S DAILY FVG
In my latest analysis of the Crude Oil Futures ( NYMEX:CL1! ) market, I've identified key medium-term resistance and support levels. The resistance at $84.30 was ideal for a short position, with a trailing-stop set at $83.80 to manage risk. My target for this short position is $74.50, suggesting a significant profit potential of over 10%. Considering that most...
So Friday Crude showed its hand to us and what it was really wanting to do. Sell side hit and with that a large Daily Displacement. We could expect a smaller range day today and with that said I am looking for short term BSL to be taken before to carry on to the sell side of the chart. I have two targets marked out clearly for this weeks initial draw on liquidity...
Yesterday we saw a nice rally creating a Daily +OB which I have annotated. If price is to respect the 4hr FVG we will see price go higher to the marked target. I am bullish today however to expect some form of retracement after such a move is understandable for the market to make. Bullish is the motive.
We have created a consolidation and formed a short term low for now I believe price will head to these BSL targets marked in the chart. 15min FVG should stay respected with candles closing above it if revisited, preferably for price to not come back to it.