Oil crude oil is now rising to around 71, after reports that Iran and the issue of nuclear enrichment and oil exports are close to reaching an interim agreement, but oil prices rebounded from earlier declines at the close, as the United States denied reports that the two countries were close to an interim nuclear deal, in addition, gasoline inventories increased...
Benefiting from the reduction of crude oil inventories and the impact of Saudi Arabia's planned production cuts, the upward trend of crude oil is obvious, and oil prices are expected to fluctuate in the range of 71.00-73.85 today Today's Crude Oil Trading Strategies: usoil:buy@71-71.5 tp72-72.5 Next, I will continue to provide more trading signals, and the...
Saudi Arabia, the world's largest oil exporter, raised official crude prices for Asian buyers. Oil remains in a wide weekly range due to limited demand, increased supply from non-OPEC countries, and potential recessions in the United States and Europe. Although crude oil broke through yesterday but then pulled above the trend line, it seems that crude oil...
Crude oil rose strongly from 68 on Friday to get back the space for the previous decline, affected by the OPEC extended production cut agreement, crude oil at a high level of short strategy last week needs to be adjusted, intraday 72 and 71.3 has become a long support line, but also crude oil can choose to trade the position At present, the rising trend of...
As oil prices continue to fall, expectations of further OPEC production cuts and a major breakthrough in the US debt ceiling bill may limit the decline in oil prices The OPEC+ meeting will remain in the spotlight later this weekend, as producers are expected to announce further production cuts to support energy prices Personal Trading...
Yesterday, there was a bullish signal at the 4-hour level of crude oil, and a small band of profit came out near 70.10. Through the analysis of the 4-hour chart, I learned that the current crude oil is fluctuating at 71-72, and I will look for opportunities in key positions. Specific strategies USOIL:buy@70.7 tp:71.7 Next, I will continue to provide more...
Crude bounced smartly off of 79.69 twice, with the 2nd test just happening in the Euro session this morning. It has returned to 80.40ish level. This sets up nice for a move back to 81.80 level to try to break the short at the 61.8% line of the recent downtrend. If it can do that, it will open up further moves to the 83-84 area. And, Nat Gas has went down and...
It is fact that WTI crude oil gained about 10% in October following the OPEC+ decision to cut oil production but it doesn't appear that decision is making a significant impact as the price is unable to break out of the $93.50 area in the last couple of weeks. From a technical standpoint, price action is caught within a consolidation phase between the $93.50 and...
I have finally cleaned up my chart ! I think usoil will cool down lower before continuing the ascending trend. It can bounce on the yellow line or the green resistance. It might go a little higher before falling, forming a Shoulder head shoulder. If something happens, it can also go higher directly, altho im not sure what would be a nice target. What do you think ?
As of now trading around 67 area with speculative sentiment index around 20% hence an upside break out is highly possible targeting the 72+ levels coming weeks . However, considering the trade on the last day of month + price around the range top , You can try putting sell limit orders 100-150 pips above the 67 top although success rate will probably very low as...
US OIL LONG POSITION RISK MANAGEMENT ALWAYS USE TRAILING SL MOVE EVERY 20 PIPS TO AVOID LOSSES
The us oil is heading towards 37.00 key level Long term is at 95 dollar, because the shaved bar on monthly and and morning star formation with a pinbar between the 3 candles What is your long term target ? react and share Thanks
Oil has been on a tear this week and its mainly due to a lot of OPEC/OPEC+ talk. The upside came out on news of production cuts hitting the system shortly and we were anticipating price hitting the $60.00 area or near at least. That target was easily hit this week and now we have to question where could it go from here? There are two possibilities: 1) The...
Final capitulation currently in play, I will update if $45 will be a good buy, so far $41.9/$42.35 support is the best risk-reward zone, Target 1 $58 - Target 2 $64
1. Slight bounce from demand zone 2. Formed a rising wedge and a break down occured, however buying pressure remains consistent. 3. If we were to open a short, would prefer to see the price lose below the mini demand structure. 4. If closes higher above the wedge, we can look to long. *I am more long biased, given how the breakdown of the wedge was quite weak.
USOIL is approaching our first s support at 60.65 (horizontal overlap support, 61.8% Fibonacci extension, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our first resistance at 67.62 (horizontal overlap resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching...
1. Pullback to the bear flag created. Good RR ratio. 2. Volume is decreasing on the pullback. 3. Potential double inside bar on the 4 hourly chart. 4. Structure is still holding and candles are unable to close above it. *Therefore waiting for entry short signal when the lower low of the candle on the 1 hr chart closes below previous low.