USOil | New perspective for the week | Follow-up detailOPEC+ had its first physical meeting since the pandemic last Thursday and has decided to cut oil production which is definitely going to have an immense impact on price movement in the coming week(s). The impact of this event could be seen on the chart as we witnessed a significant breakout of the key level at $86.00 to set a bullish tone against the new week as Crude oil continues to soar on the wave of this decision.
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Usoillong
USOIL ! Daily analysis bullish or bearish ? Short rules are simple: don't force trade against terend, with a clear HL-LL structure. Then, at the red level, is sell zone. momentum is looking price fail to make a higher high, then go to entry short.
traders need to enter short at that level, as a red engulfing reversal candle appears at that point.
verify a lower timeframe for the best analysis and wait until short confirmation.
Must wait for more signals as a confirmation candle, otherwise
Long rules are simple: If you get high risk, high reward. Then wait for the break red zone, with massive bullish momentum
USOIL ! Is this the end of the oil down ? long trade idea.Oil prices have fallen in last few weeks, but the bullish trend continues for a long term. If USOIL get shows a support at the level of 74.20 and bullish forming, I open long trade.
Why oil is still bullish ?
1. World oil production rose 790 kb/d in August to 101.3 mb/d, with a strong recovery in Libya and smaller gains from Saudi Arabia and the UAE offset by losses in Nigeria, Kazakhstan and Russia. From August through December, growth is forecast to slow, edging up by just 280 kb/d to 101.6 mb/d. In 2022, global production is forecast to rise by 4.8 mb/d, to 100.1 mb/d, and by 1.7 mb/d in 2023 to 101.8 mb/d.
2. Geo-political events
The geopolitics of oil and gas can be viewed as resulting from the balance between supply and demand, which affects the power dynamics between energy exporters and importers, energy security, and the military strength of major powers
2609 Euro-NY SESSION USOIL possible to test 80-81 againHello traders,
USOIL has a stong bearish trend last Friday which hit our last STOP LOSS.
Now in the EURO session on Monday, it seems possible to make a retracement on for sellers. It continue to drop in Japan session and down to make a new low at the beginning of EURO SESSION.
On 1h CHART, it is possible to reach last high again before making a new high or keep sideways price action.
ABC wave on this chart is the most ideal way for intraday buyers.
The target zone up there would be a position for traders to buy again or keep selling .
GOOD LUCK ON THIS PLAN .
LESS IS MORE!
2209 USOIL stop dropping and making reverseHello traders,
USOIL is making a reverse on 4H chart. If it can make a strong bullish candle on Daily chart today, we can think about a longer time bullish trend for USOIL.
On the 4H chart, it makes higher low and break the 4h trend line.
It need to make a new high on 4H chart to confirm the assumption that it will start to bull again on 4h chart.
Take a good chance to trade 4H swing first.
GOOD LUCK!!!
LESS IS MORE!
2309 USOIL is very possible to rally upHello traders,
USOIL has failed to make a new low on daily chart.
Actually, it finally make a small bullish candlestick on daily chart.
On this 1H chart in EURO session, later could be a chance to push price up to break EMAS today. On that case, the support down there is still valid.
And we are looking for a new high up to 88.
GOOD LUCK!!!
LESS IS MORE!
USOIL - A Bullish opinion Hello traders in my opinion USOIL is approaching a strong support zone on spotted the weekly time frame via a brearish trendline and a falling support i think that if it bounces back from that zone + the falling support , breaks the trendline and retests we might see a Bullish correctional movement
just an opinion not financial advice
USOIL 1D 22-sepOil is retesting a support (previously a resistance) and it's in a second attempt to break it.
However, it's also at a volume zone, meaning could be strong buying pressure. I'll be entering a long position there:
- Open position at 83.05
- SL 1 ATR below local low at 77.82
- TP at previos high at 123.34
- Squeeze finishing it's downward movement that has no strength from ADX
Fundamentally, I think is algo going up bc OPEC is halting extraction and other geopolitical news.
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....
2X USOIL 1D Tech. Analysis! (OIL BACK OVER $100?)While inflation has settled, the reason for inflation is OIL! It will hit double digits, if Oil goes back above $100. LET'S BE FR! we are in a RECESSION! it will last till next year the fed news and economy is not looking great at all! So, we will play oil up to $120, Don't be surprised to see Oil @ $200! ONLY TRADE OIL IF YOUR ACCOUNT CAN TAKE A HUGE LOSS. OIL is forming a possible TRIPPLE BOTTOM or a Possible Head & Shoulders, we will wait for confirmation, Execute & LOCK IN PROFIT!
USOIL AT 118$Contact me for private signal group with perfect entries.
Oil - Brent and Crude November futures have bounced in Asia trading currently at 93.85 and 88.00 respectively. Fresh lows for the week yesterday amid global slowdown fears and Chengdu lockdowns but those have abated somewhat with both now up around 1.5% on the day.
Today sees G7 finance ministers meet to discuss a Russian price cap which will obviously not go down well in the Kremlin. The official Russian stance is they will not supply energy to states that employ this tactic.