USOil | New perspective for the weekOn a weekly basis, we have witnessed how the price of oil fell for a fourth straight week to incite a risk of a further decline in price action in the coming week. However, I won't be jumping to conclusions considering the current structure as we need to look out for significant signals that will guide our actions during the new week.
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Usoilanalysis
⁉️ USOIL - Market AnalysisHello traders!
⁉️This is my analysis on USOIL .
Here we are in a bearish market structure with clear lower lows and lower highs. I expect price to reject to take out buy side liqudity and to fill the imbalances above. After that, to continue bearish price action.
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WTI CRUDE OIL US OIL DROP MORE ?Hey traders! In the US OIL Market structure we see after drop of oil prices on 14 sep from 90$ per barrell price is now holding its support area which is 84$.
What we see in market structure?
Price breakout its market structure in 2h timeframe and show the selling pressure at 86$ which is very stong support for usoil now price again come to this level now as a resistance and respect this level/ also bearish flag formation also indicate that we see selling continuation in the price of us crude oil on monday market opening. Price is near its support and test multiple time and it show the weakness of support we see on monday and coming week/ this week also fed rates are coming so banks and institution smart money also looking for fresh data coming from US/
TECHNICALLY US OIL is showing selling pressure after the breakout of bear flag we go for the short position sell in wti us oil for the target of next pivot point support 82.40 level and next the low of 08 sep 81.36 level which is strong support we see in oil price. Our stop loss is in the monday high or the previous 2h candle high or above the 2h previous candle.
USOIL PRICES ABOUT TO SOAR ONCE AGAINPrice is obviously on a bullish trend on the Monthly Timeframe. I love to start my analysis from the higher timeframes.
Price formed a higher high then proceeded to a possible higher low through the current retracement.
Price is currently respecting a monthly orderblock in a bullish environment therefore I expect price to buy up into the Sellside Imbalance Buyside Inefficiency then to the immediate high as my overall target in the coming months all things being equal and provided the current trend is respected.
USOIL adam bottom demand zone 82.40 for long8th September daily key reversal bar, made a new low closed in the middle. 9th September daily insurance bar indication for strength ahead. high probability for long opportunity from demand zone as 82.40-20 with half risk, may use remaining half% risk from 81.30, stop loss 80.50, target: 88.50
USOIL - LOOKING FOR THE LONGUSOIL is looking like an expanding market about to complete 1-2-3-4-5 pattern - see purple.
A possible reversal area is the 1.272 ext (82.52) of the last swing higher - see green
This area is also a support area going back to January.
We draw another extension from the last small move higher - see black - and judge the price action as it moves through these extensions.
The 382 of the larger move higher is just below at 80.00
Somewhere in there can be ourrevrsal for a move back up to 100 mark.
Timne to follow....
USOIL is in sell area!!USOIL (4H) is currently approaching to test the neckline of 4H head & shoulder. It is high probability that the price will have a rejection as we already have seen strong rejection from this important area of value with long bearish engulfer.
As the long-term trend is down, it is a high probability that the price will continue to drop as daily has a strong bearish price action as well
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USOIL where to sell?USOIL has formed a strong bearish price action on a daily and higher timeframe. In the 4H timeframe, we see a significant expected retracement to the upside. Price is now currently approaching this important level of resistance. Upon rejection and price action confirmation, a selling opportunity may arise.
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