USOILSPOT everyone is so bearish over this weekend oil , I hope that majority is right , of my experience in the markets , markets tend to do opposite to what everyone expects it to do . Will wait for the markets to be open in less that 19 hours from now !West Texas Oil forum
USOILSPOT everyone is so bearish over this weekend oil , I hope that majority is right , of my experience in the markets , markets tend to do opposite to what everyone expects it to do . Will wait for the markets to be open in less that 19 hours from now !
USOIL OPECS news is subjective to market conditions and most of the time it’s already priced in according to structure,they are monitoring the markets like hawks and currently undervalued if the whales want to take the price up or down they will regardless please read the news accordingly. Key areas
60 Support
70 resistance ( mini resistance at 68 )
I am more bullish on oil and will sell if I have to.
We are sitting on top of the neckline Premium fib levels
WTICOUSD Darkyboy here is the official post... of course we shouldn't believe the news, but here it is in an official post.opec.org/pr-detail/569-05-july-2025.html
$#Opec+ eight member states with additional voluntary production cuts (V8) said to have agreed to raise the production cap by 548kbpd for the month of August #oott
USOIL if OPEC decides to increase output by more than what’s been in news over last few days , market would open lower than the closing price on Friday.WTICOUSD hold onto your hats for Sunday night open.For all those celebrating 4th July. have a great day and enjoy the fireworks.
financialjuice.com/News/9022031/OPEC-seeks-to-further-accelerate-oil-output-hikes-at-meeting-on-Saturday-and-release-more-than-411000-bpd---Three-Sources.aspx
USOIL Brilliant Play!I have to hand it to the market makers, they know how to create levels of uncertainty. Check out the Hourly chart that is in Neutral (directional) Market Bias:
- After two Pivot Lows were breached earlier, the Bearish and Bullish Trendlines (in red and green dotted lines) came together as an Equidistant Triangle, which is significant when the trendlines form a pattern. That kind of triangle means that price action can go above/below the triangle.
- Lots of consolidation again after the bearish drop. It's now in a market pause from the Inside Day with no clear direction. Breakout can be from the pattern's low at 66.01 or high at 66.56 (shown as two orange lines).
- And, a new S&R Zone formed, so price action will either rise above it towards the Swing Highs of 66.99 and 67.05 to breach OR drop below the Zone for a breakout from the Inside Day's low of 66.01 (shown as an orange line) and go down more.
Very wily! Bravo to the algorithms that set this up. This looks manipulated to me.
USOIL going to be interesting what the outcome of opec is going to be. you got people shouting its going to rocket but dont realise the impact opec have over the market you could be kissing that rocket goodbye
OILUSD w pattern/ cup and handle in play on tbe daily time frame , nice ride to the upside coming next week 🚀 Good weekend to all !
OILUSD big rocketship coming!