Crude oil focuses on the 77.5 important dividing line
Crude oil technical analysis
Daily resistance 77.5, support below 74.4
Four-hour resistance 77.5, support below 76
Crude oil operation suggestions: The overall price of crude oil continues to fluctuate downward above the 78 mark, continuing the recent trend of suppressing short positions. Today, the upper resistance focuses on the starting point of the hourly line decline, 77.5-77.8. During the day, we will continue to rely on this position to continue to be short and follow the trend to fall back. The lower target is still concerned about breaking the bottom. The short-term long and short watershed focuses on the 77.5 line. When you first reach this position, you can try to short with a light position, once.
SELL:78.5 near SL:79.00
SELL:77.5 near SL:78.00
Technical analysis only provides trading direction!
Usoilanalysis
USOil moving lower**Monthly Chart**
Last month candle closed bearish after testing the low of key reversal candle of the previous month and started moving lower. The next target on monthly is around 71 level and then 63 level respectively.
**Weekly Chart**
Last week's candle closed as a bearish key reversal suggesting a continuation of the downtrend move.
**Daily Chart**
USOil broke the relative equal high of the range with the creation of manipulation candles at around 80 levels. The next target is to break the soft level of supports around 75.50 level and move aggressively lower. A corrective move around 78.00 level is required to push the price lower. The next target is around the 72 to 70 level.
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Crude oil under pressure 80.3 return rangeCrude oil technical analysis
Daily resistance 79.2-83.4, support below 77.5
Four-hour resistance 79.2-80, support below 78.5
✅Crude oil operation suggestions: Crude oil fell back after reaching a high yesterday. It failed to continue its strong performance after breaking through 80.0. The small negative line retreated and showed signs of seeking support at a lower level. In a strong market, the price usually falls back on the same day. Yesterday, it fell back and closed at a low level, which made the short-term bulls not strong. It still returned to a volatile trend. Be careful of today's rapid rise to repair the decline.
The overall price continued to fall back after encountering resistance above the 80 mark. The short-term daily level continued the rhythm of long and short wide fluctuations. Today's upper resistance focuses on the opening of yesterday's hourly line near 80.3-80.5, and the lower support focuses on the 78.5 line. During the day, keep selling high and buying low according to this range.
BUY:79.2 near SL:79.00
BUY:78.5 near SL:78.00
The crude oil brokers' quotations are different, only for reference of trading direction
USOIL: Current oil prices are widening their fluctuation rangeUSOIL: Current oil costs are widening their fluctuation range. The short-time period upward fashion because of climate facts in North America and Texas reasons short-time period worries approximately oil output on this region. However, withinside the future, oil costs will nevertheless generally tend to lower and watch for bulletins from OPEC+. We can see that individuals of OPEC+ and Russia have all proven symptoms and symptoms of growing production, so the chance of a lower in oil costs is surprisingly high. Consider promoting across the modern rate range. Target is 76$/1 barrel
Crude oil continues to run in the 77~80 rangeCrude oil continues to run in the 77~80 range, waiting for a breakthrough, continue to sell high and buy low
Crude oil technical analysis
Daily resistance 79-80, lower support 76.8
Four-hour resistance is 79-80, and support below is 77-76.8
Crude oil operation advice: Crude oil was under pressure at the 79.2 mark yesterday and ushered in a weak and volatile downward breakthrough. The Asian and European prices fluctuated sideways and came under pressure near the 79 mark, then fell back and fell rapidly, falling back to a weak rebound near 78.2. NY time was under pressure at the 79 mark and ushered in an accelerated decline. Finally, the price fell to around 77.6 and stabilized.
The overall price appears to be suppressed at the 79 mark. Short-term oil prices continue to show a daily red-green cycle rhythm. Today, the lower support focuses on 77.2-77, and the upper pressure focuses on 79.5-80. The day will continue to rely on this range to maintain a wide range of long and short shocks. The watershed between short-term long and short strength still focuses on the 80 integer mark. Before the daily level reaches 80, it will continue to maintain long and short shocks between 77 and 80.
BUY:77.0 near SL:76.70
BUY:76.8 near SL:76.40
BUY:79.6 near SL:79.30
Technical analysis only provides trading direction!
USOIL: Short-term oil prices are on the way to recovering to $80USOIL: Short-time period oil fees are at the manner to convalescing to BSE:EIGHTY because the marketplace is presently watching for the subsequent OPEC+ meeting. However, the chance of a lower is fantastically excessive due to the fact OPEC+ nations have nearly all showed the growth in production. This will probably reason oil fees to drop even lower. Consider ready to promote with USOIL around BSE:EIGHTY with the anticipated goal to go back to $75-76
USOil short term Bullish and long term Bearish**Monthly Chart**
USOil last monthly candle created a swing high with a Ring high formation which indicates a continuation of the bearish trend as it bounced from a key level at around 87.60. This month the price opened from the low of the previous candle and continues to move lower. The next level is around 70.00 and then 66.60.
**Weekly Chart**
The last weekly candle closed bearish which has created a different opinion on whether USOil price might continue moving lower after breaking the soft support level or bounce from it at around 75.90.
**Daily Chart**
I am seeing short-term bullish to break the equal highs above 80.00 level before continuing the move lower. Therefore, my long-term bias is still bearish for USOil.
The plan for this week. I will only react near the low and high of the levels that I marked. Plus I will look for a confirmation candle (some calls it insurance candle).
USOIL: Oil prices have turned downUSOIL: Oil fees have became down. In the fast time period, there are symptoms and symptoms of breaking the preceding growing channel. Besides, the fast-time period accumulation region around $77 -seventy nine is likewise displaying a main weak point withinside the context that OPEC+ has finished its discount goal and is making plans to boom production. In the fast-time period destiny scenario, it's far in all likelihood that OIL will drop to deeper charge levels. You can watch to promote with short-time period expectancies of around $75/1 barrel.
OIL can go long in these positions, today’s analysis and strategCrude oil technical analysis
Daily resistance is 79-81, support below is 76.8-75
Four-hour resistance is 79-80, and support below is 78.3-76.8
Crude oil operation advice: Crude oil still fluctuated widely yesterday, with the lowest backtest of 78.2 starting to stabilize, and the highest hitting 79.8. Then it fell sideways, and after reaching near the previous high, it failed to break through directly, and continues to fluctuate upward today.
The overall price has stabilized at the 78 mark and continues to operate in a wide range of long and short shocks. Today, we will continue to focus on the vicinity of 79-79.6. If we break through this position during the day, we will continue to be bullish first. The short-term pressure above will focus on 79.6. Once the daily line firmly holds the 79.6 mark, we can see a big rise.
BUY:78.3near SL:78.00
BUY:79.0near SL:78.70
BUY:79.6near SL:79.30
Technical analysis only provides trading direction!
OIL 20/5/2024 AnalysisDue to serious geopolitical scenario happening in the middle east usoil has a potential tendency to go long.
the Israel strike over Rafa and death of iranian president has created a serious tension in the middle east zone which can be affecting the price of black gold the oil.
Bullish targets: 79.60
79.80
80.10
bearish targets : 79.00
78.80
supports: 79.23
78.57
78.21
pivot 78.85
resistance 79:85
80.25
until and unless the pivot is not broken oil will continue buy.
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A must-read for trading oil
If you are a friend who likes to trade oil, you can do a rebound at 77.5-77.8. Combined with the trend channel, oil will rebound to a certain extent after falling. For ultra-short-term trading, you can also buy to earn the difference.
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Sell oil. A must read if trading oil.
In terms of oil, after the news of substantial persistence came to light. Oil prices have been trending downward. This is true in the medium term and also in the short term. Currently, the top of 79 serves as a pressure position and is a good selling point. The small-level target below is around the price of 77.5.
Operations are still focused on selling.
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OIL: Descending channel, sell on highsCrude Oil Technical Analysis
Daily resistance is 79.7-83.6, support below is 76.8-75
Four-hour resistance is 78.6-79.7, support below is 76.8
Crude oil operation suggestions:
Last Friday, the overall oil price fell under pressure from the 79.9 mark. The overall price appeared to be suppressed and encountered resistance at the 79.9 mark. There is still room for decline in the short term. Today, the upper resistance will focus on the hourly top-bottom transition level around 79-78.8. The intraday rebound will rely on this position to continue to be bearish. . The lower target level still focuses on new lows, and the short-term weak short-term dividing line focuses on the 79.7 mark. Before the daily level reaches this position, continue to maintain high price short selling.
SELL:78.8near SL:79.1
SELL:79.7near SL:80.0
Technical analysis only provides trading direction!
Oil price real-time trading details
Oil prices are currently back at low levels, supported by the June production cut agreement. In the short term, buying is still the main focus, taking the price of tradingview as an example. 78.2-78.5 is used as the buying range.
The target can be set at 79.6-80.5.
Black Gold Judgment Says Huge Challenge Is Just One Step AheadGlobal shares rose while the dollar retreated on Wednesday, after a hot reading of U.S. wholesale inflation set a nervous tone for trading before a consumer price report that could prove decisive about when the Federal Reserve cuts interest rates.
The frenzy in so-called meme stocks entered a third day, with shares in AMC and GameStop soaring by more than 25% at one point in premarket trading before retracing some of those gains.
Price action was more subdued as investors were reluctant to push any market too aggressively one way or another ahead of the monthly U.S. consumer price index later in the day.
The boom has drawn parallels with the meme-stock craze that gripped markets in early 2021, where retail traders, using trading platforms and social media investment advice pumped up the value of stocks that many large investors had bet heavily against.
Technical graph for Brent crude oil says, right here is a similar challenge like in 2021.