Hello, according to my analysis of the oil market on a four-hour frame. It appears from the analysis that it is still in a downward trend. Through the descending channel that confirms the sellers’ control over the market. Good luck to everyone.
Hello Traders! As expected, we can see a retracement of the OIL H2 from the resistance level, and also, from the OB at the price of 74.900. I see this retracement as a good signal of bearish domination, representing a good opportunity to execute a short trade. Treaders, if you liked my idea or if you have a different vision related to this trade, write in the...
Hello Traders! This is my perspective on WTI H4. OIL is currently at a key level, and I'm waiting for a confirmation. At the moment, OIL is in a bearish channel pattern and has now reached the resistance level. I anticipate a move until the OB from the price of 78.200. Additionally, there is a significant possibility of a strong bearish move down to the price of...
Oil traders overreacting to the wrong triggers? Divisions within OPEC have caused WTI crude to fall below $74 per barrel, ending a three-day climb for the commodity. Angola, which joined OPEC in 2007, said it is leaving the Organization of the Petroleum Exporting Countries. This move raised concerns about OPEC's capacity to stabilize global prices,...
It has come to our attention that several shipping companies have temporarily halted their operations in the Red Sea, leading to a slight disruption in the transportation of oil. As you are aware, the Red Sea is a crucial shipping route for oil tankers, connecting major oil-producing regions to global markets. Any disruption in this route can have far-reaching...
Oil's Next Move: Red Sea Conflict and $75? BP has suspended all oil and gas shipments through the Red Sea due to a rise in attacks on cargo ships and a deteriorating security situation attributed to Iran-aligned Houthi militants in Yemen. This move has caused a 2% surge in oil prices, pushing WTI crude futures to $72.5 per barrel. This development signals the...
i think we reached to over-selling and to good support to buy the oil from now with target between 72-74$
After the latest OPEC+ meeting, the price of WTI crude oil dropped more than 2% to $75 per barrel, ending a two-day win streak. During the meeting, OPEC+ agreed to cut oil production early next year by almost 2 million barrels per day (bpd). This decision was spurred by worries about having too much oil in the market coinciding with the end of Saudi Arabia's...
On the first marked candlestick you can see how the volume was high and the price closed (red) immediately followed by a return big candle with strong volume (the bulls defended). Then they try again and fail. Here's the reason why i hunted low wick today after the news. I expect this time we break the 200 DMA and test $83
Hello, according to my analysis of the oil market. We notice that the market formed a triangle pattern and penetrated the pattern. But it was a bullish breakout. But it rebounded from a very important area, which is the 78 resistance level. A large red candle also formed, indicating strength in the sellers. Good luck to everyone.
oil starting to push up after breakout the channel, do you have order in oil right now?
Western Texas Intermediate (WTI), the U.S. benchmark crude oil, is currently trading near $75.05 as of Tuesday. WTI prices show modest gains, supported by expectations that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will extend oil production cuts in the upcoming Thursday meeting. Amid the recent oil price slump, analysts predict...
Crude oil prices fell for the fourth consecutive week last week. A substantial increase in inventories and record production were the main reasons for the decline in crude oil prices last week. The entire market has been weak recently due to supply concerns and a significant drop in demand. However, on Friday due to some short sellers Oil prices rose as...
Oil prices are rebounding following a recent dip, sparked by the International Energy Agency's (IEA) announcement earlier this week, contrasting events from Monday. Monday's decline was largely influenced by the OPEC+ monthly report, hinting at potential price increases. However, sustained crude oil recovery requires further momentum, with a significant catalyst...
OPEC has recently made a significant announcement that they will be adding a staggering 2.5 million oil barrels per day to the global supply. This news couldn't be more opportune for those seeking to capitalize on potential gains. Now, more than ever, we have the chance to position ourselves and make a lasting impact on our trading portfolios. With OPEC's...
This week, crude oil received support at 74.9 and the overall rebound rebounded. The week ended with an overall decline of 4.18%, and finally closed at $77.40. From a fundamental point of view, the reasons for the continued fluctuation of crude oil prices this week are as follows: 1. Russian Foreign Ministry Spokesperson Zakharova: Russia will not give up its...
The U.S. Department of Energy abandoned its original position and relaunched the Strategic Reserve Replenishment Program. Oil prices have been falling. However, the conflict in the Middle East has a greater impact on the fluctuation of oil prices. Once the conflict escalates further, the price of crude oil will exceed 100. The short-term trend of crude oil was...
Crude oil targets resistance at $88. The important level after that is $90, which is a resistance level that the market needs to break. The prevailing sentiment suggests that it is only a matter of time before the market rises to these levels. Crude oil also found support from the 50-day moving average below, which acted as a stabilizing force. Additionally,...