The release of oil reserves was expected to lead to lower oil prices, but instead, WTI Crude Oil has remained steady after a spike. It currently trades just above $78, but upward momentum has been limited. There is short-term resistance at $78.65 and bulls will be looking to close above this figure. However, bearish pressure could lead to a drop back to November...
USOIL reached our short-term price target of 80 USD. Because of that we would like to update our idea. We would like to change medium-term price target of 82 USD to short-term price target. In addition to that we would like to set new medium-term price target to 85 USD. Our long-term price target of 90 USD remains unchanged. We continue to be bullish on WTI oil...
USOIl reached our short-term price target overnight. We continue to be bullish on WTI oil. Because of that we would like to change medium-term price target of 77.50 USD to short-term price target. Similarly, we would like to change long-term price target of 80 USD to medium-term price target. We would also like to set new long term price target to 90 USD per...
In recent days USOIL has been holding up relatively well in comparison to the general market. It currently trades around 71.30 USD. We forecast that positive developments in the airlines and the travel industry will drive demand higher over the next 6 months. Our short term price target remains 75 USD per barrel while our medium term price target is 77.50 USD. Our...
USOIL continues to trade around its short-term resistance near 70.50 USD price level. We continue to be bullish on USOIL. Our short term price target is 72.50 USD. Our medium term price target is 77.50 USD and long term price target is 80 USD. Technical Analysis ADX exhibits low value suggesting that trend is neutral or very weak. Although, RSI and Stochastic...
Crude Oil stuck in a downside trend. as long as below 70.50/71 price zone gold will carry its downtrend. Crude oil sell area 69.50 p [rice zone. we should stop loss above 75.50/71.00 price zone. so, if we sell near 69.50 I mean the present price zone. we will put our stop loss at the 71.0 price zone. first target 67.00, 2nd target 65.00 price zone, if the market...
So finally today we touched the very long term downward trend line on the weekly charts (see below). Wow what a run up! Now on the hourly chart we have a double extreme bearish divergence on the MACDH which usually (as its so rare occurring after long uptrends) signals a sharp reversal. We are trading inside a rising wedge here so we could try and take this all...
Break of 36 is bearish
Hello, welcome to this analysis on US Oil. Oil has been in an uptrend since the massive drop back in April (the price went negative for a future expiry!). Although the price has filled the March's gap around 41$ and the macro trend looks exhausted based on the bearish divergence on the higher time frame indicators, on the short term time frames it looks like the...
👁️🗨️Crude Oil's trend is still bullish despite a drop in the broader market that is pulling oil along with almost everything else down with it. While weak demand is ramping up storage fears (fears should have been quelled by the OPEC+ deal to cut production, but doubts over compliance linger) the overall trend for oil along with the OPEC+ deal itself is still...
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As per chart
Dear traders USOIL is now between two resistance and support zones , the resistance zone is from 28 to 29.29 on the other hand the support line is at 25. best plan is to wait USOIL break one of these areas to make Some easy pips. 1_if it breaks down support zone : short it , target point: 21.5 stoploss: if it closes a 4 hour candle over the broken support...
few bids filled at $2.45 this morning looking to slowly add to this name
Why it's opportunity to buy? 1. morning star pattern 2. Stoch rsi is ready to go up 3. Good news about association between sa and russia
Another nice breakout fakeout trade here from the breakout fakeout master ; But how high will it go??? As with the parallel dow trade (see other post) breakouts rarely work. Its nearly always best to see that conditions are overbought or oversold and trade accordingly. The only problem is that I really need to sort out this telegram channel... I'm a high margin...
Here we are at the crossroads, US crude oil has put in a lower high and lower low on the hourly charts and we could see another move downwards. This is an interesting trade as we could either see a continuation flag to the upside where we may break major resistance and pile on up to 28. Or we could see a cup and handle reversal pattern and see a retest down to...