USO/USD is reacting off the resistance level which is a pullback resistance and could drop from this level to our take profit. Entry: 72.19 Why we like it: There is a pullback resistance level. Stop loss: 74.66 Why we like it: There is an overlap resistance level that is slightly below the 78.6% Fibonacci retracement. Take profit: 69.80 Why we like it: There is...
US CRUDE OIL New forecast The price perfectly fulfills my last idea and price reached to our targets +120 pip . Oil price trading settled above the level of 73.72, heading towards resuming the ascending wave within the ascending channel shown in the chart, where it touched the first positive target at 75.06, and we expect the ascending wave to extend towards...
USOIL big support zone coming up! Will be looking for long positions when price reverses! Let me know what you think! Trade with patients and manage your risk at all times!
US oil here giving us a clear bullish range to the upside after sweeping out the Asia load and London low from Friday we're taking this as a signal price once you travel higher so we're going to look to buy from the low of the range. Now overall this range has everything we've looked for within a setup but of course we will use the same systems we always use and...
USOIL on the 4h chart after our previous analysis reached the 80 level and dropped to the 0.618 Fibonacci area exactly over a previous support that has been tested a few times before. The market anyway did not create a new recent lower high and also for this reason we can keep to search for a long opportunity in the short term. How can i approach this...
Fundamental Backdrop 1. Optimistic reports of manufacturing expansion in China, which is recognized as the largest crude oil importer globally causing a better outlook for the demand. 2. Data showing China's factory activity rose for the first time in seven months in February 3. Output is still down more than 700,000 bpd from September with a high demand still in...
What's up guys! Another breakdown here, this time for US oil market. As you can see from this breakdown, we have a clear area of demand that price is rejecting away from. Based on this and where we stand in overall structure, I am expecting bullish movements to take us into the area of supply highlighted above. From that point, I am going to watch to see if the...
When trading crude oil using technical analysis, it is important to consider the following key factors: Chart patterns: Understanding common chart patterns, such as head and shoulders, triangles, and trend lines, can help traders identify potential buying or selling opportunities in the market. Technical indicators: Technical indicators, such as moving...
What's your current take on US Oil. This market seems to have really peaked my interest and I believe most of my profits this year will come from oil. Just a quick breakdown of what I see potentially happening for oil.
Hi All, as we gear up for the week, We are looking at buying the USOIL from current price, price is currently printing HLs which means the possibility of the break out of the downward channel is on the card, we do not expect a full blow bullish movement, however few pips won't hurt. Entry, TP and SL marked. Please follow, Share, comment and like. Many thanks
Looking at the H4 chart, my overall bias for USOIL is bearish due to the current price crossing below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 80.22, where the 38.2% Fibonacci line is. Stop loss will be at 82.44, where the recent high is. Take profit will be at 77.90, where the 50% Fibonacci line and support...
Looking at the H4 chart, my overall bias for USOIL is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. Looking for a pullback sell entry at 80.22, where the 38.2% Fibonacci line is. Stop loss will be at 82.44, where the recent high is. Take profit will be at 77.90, where the 50% Fibonacci line and support is. Any...
Looking at the H4 chart, my overall bias for USOIL is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Looking for a retracement pullback buy entry at 76.84, where the 50% Fibonacci line is. Stop loss will be at 72.42, where the recent swing low is. Take profit will be at 84.70, where the 61.8% Fibonacci line...
Looking at the H4 chart, my overall bias for USOIL is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a buy entry at 77.90, where the 23.6% Fibonacci line is. Stop loss will be at 72.42, where the recent swing low is. Take profit will be at 84.70, where the 61.8% Fibonacci line is. Please be advised that...
Let's get to the us crude oil chart analysis. Due to the explained structure, a special down is expected soon.
As Per Analysis Done First Target Is Hit Remaining Possible 2 Target To Hit.
Us oil has done the Bull trend and all targets has HIT..now going for short possible targets till next FCP zone. trade what you see and manage your risk.
In the crude oil we have strong level of resistance where price close on friday and sort of rejecting from 84.87 level and we also have 200 ema at 87.91 so this zone is very strong and oil need high volume to break this area and after this we have a strong trend line resistance to upside and price rejecting multiple time from this level also so i am looking...