Is it time for Oil to go backwards?If Oil is able to close at 77d. There will be room for Retracement to 82 d. If it is unable to close above 77 d, its decline will continue to 69 d.
Oilshort
Oil price gets a negative signal The price of oil has been fluctuating sideways since the morning, and therefore, there is no change to the expected bearish trend scenario for today, which mainly targets the 75.49 and then 73.80 levels, with a reminder that breaching 77.83 will stop the expected decline and push the price to try to recover in the intraday term.
Pivot Price: 76.83
Resistance Prices: 79.18 & 80.80& 82.74
support price: 75.49 & 73.80 & 72.12
The general trend expected for today: bearish
OIL SELLHello, according to my analysis of the oil market, the market is in a very negative state. The market has broken the ascending channel. It also broke the 88.00 level, which is considered strong support. In the coming days, we may notice further declines towards the 80.00 levels and the 76 level. Good luck to everyone.
Oil 4H midday updateThe oil price is showing additional positive trading to gradually approach our first awaited target at 84.12, waiting for this level to be breached to confirm the continued dominance of the upward trend and achieve additional gains up to 85.94.
On the other hand, you should be aware that breaking 82.90 will stop the expected rise and force the price to decline again.
The general trend expected for today:bullish
Pivot Price: 82.90
Resistance Prices: 84.12 & 85.94 & 87.73
support price: 80.95 & 79.73 & 78.21
Crude Oil Thursday Trading Signals
Through the analysis of the hourly chart of crude oil, we know that yesterday’s market rose first and then fell again in the evening and hit a new low at 80.30 below, stopping the decline and rebounding. We can clearly see from the attached picture below that there was a bottom-buying signal from a small institution below yesterday. It rebounded as expected. In early trading today, a low-priced signal from small institutions appeared again in the market. It is expected that it will continue to rebound. In the short term, we will focus on the pressure of moving averages No. 1 and 2, but we do not rule out further declines to the bottom during the session. The position of the No. 3 moving average is where we continue to think high, low and long. The specific suggestions are as follows:
sell 82-81.8 tp80
buy 79.5-80 tp 81.6
Crude oil Wednesday strategy
On Tuesday (October 31), under a series of negative impacts, WTI crude oil closed down 1.5% and broke through the key support of $82.00, indicating that the rise of WTI crude oil since the beginning of May is facing an end, and at the same time, downward space may be opened.
Looking at the daily chart of crude oil, oil prices have stopped rising at a high of 95 and entered a correction state. Oil prices have experienced a two-week decline and adjustment. Oil prices have crossed below the moving average system, and the objective trend has entered sideways consolidation. The original flag-shaped relay pattern has been destroyed. Under the uncertain war and conflict, oil prices continue to reverse upward. The current mid-term trend of crude oil has entered a high-level consolidation pattern. If the situation escalates, it is not ruled out to review the rise again.
The short-term (1H) trend of crude oil continued its volatile downward trend and hit a new low of 81.40. The moving average system is arranged in a short position, and the short-term objective trend remains downward. In early trading, oil prices adjusted weakly near the lows, and short-term momentum prevailed. Pay attention to the resistance of the yellow downward trend line on oil prices in the chart. It is expected that crude oil will continue to decline in the short term during the day. interval category. It is expected that crude oil will continue to decline during the day and test the support position at the lower edge of the 81.70 weekly chart range.
Trading signals: sell82.50 sl84.00, tp80.70.
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Crude oil trading strategy for Tuesday
Through the analysis of the hourly chart of crude oil, we know that yesterday's market surged higher and fell back, showing that the main bulls were weak, and once reached the 81.80 line below to stop falling and rebound. From the picture below, we can clearly see that there has been a super main force buying the bottom signal. It is said that there will be a rebound in the short term. In the short term, we can focus on the pressure on Nos. 1 and 2. It is expected that the bottom area will continue to fluctuate and build a bottom. In the short term, in terms of operation, we will continue to think of going high and low and long. The specific suggestions are as follows:
Crude oil is short at 83.90 and 84.90 respectively, with a stop loss of 70 points and a profit stop of 200 points;
Crude oil is long at 82.10 and 79.80 respectively, with a stop loss of 70 points and a profit stop of 200 points.
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Oil price tests supportThe oil price faced negative pressure yesterday to attack the 84.55 level, and we note that the price consolidated above this level to begin offering positive trades at the opening of the day, on its way to building an upward wave that we expect to mainly target the 86.50 and then 88.29 areas.
Therefore, we continue to favor the upward trend for the coming period, supported by the positivity of the Stochastic indicator that is clearly visible now, keeping in mind that breaking 84.55 will stop the expected rise and put pressure on the price to conduct an additional downward correction, with its next target reaching 83.21 .
Pivot Price: 84.55
Resistance Price: 86.50 & 88.29 & 90.70
Support price: 83.21 & 82.06 & 80.56
The general trend expected for today: bullish
Oil Prices Plummet as Russia Boosts ExportsTh oil market that might present a potential opportunity for those who are interested in shorting oil. Please note that this opportunity should be approached with caution, as market dynamics can be unpredictable.
Over the past few weeks, we have witnessed a significant drop in oil prices, primarily driven by Russia's decision to ramp up its oil exports. As a result, the global oil market is experiencing an increased supply, which has put downward pressure on prices. As of today, oil prices have dipped below the $84 mark, signaling a potential bearish trend.
Considering the current situation, it may be prudent to explore the possibility of shorting oil. However, I must emphasize the importance of conducting thorough research and analysis before making any investment decisions. As experienced traders, you understand the importance of managing risks and being prepared for any potential market fluctuations.
To assist you in evaluating this opportunity, I recommend closely monitoring Russia's export levels, as well as keeping a close eye on global oil demand and geopolitical developments. Additionally, staying informed about any significant announcements or policy changes from major oil-producing countries will be crucial.
As always, it is essential to remember that the oil market can be highly volatile, and timing is of utmost importance. Therefore, I encourage you to exercise caution and carefully assess your risk appetite before engaging in any short positions.
Should you decide to explore this opportunity further, I encourage you to consult with your financial advisor or seek professional guidance. They will be able to provide tailored advice based on your individual circumstances and investment goals.
In conclusion, the recent drop in oil prices, driven by Russia's increased oil exports, presents a potential opportunity for those interested in shorting oil. However, I urge you to approach this opportunity with caution, conducting thorough research and analysis before making any investment decisions. Remember to stay informed, manage your risks, and seek professional guidance if needed.
Oil: Thoughts and Analysis Today's focus: USOUSD
Pattern – LH after Trend Break
Support – 86.84 - 88.00
Resistance – 90.60
Hi, and thanks for checking out today's update. Today, we are looking at the USOUSD on the daily chart.
We are continuing to watch price after it broke the last trendline. So far, we have a new LH after the break, with price continuing to push lower in today's session.
Will we see further selling confirm the LH trend break pattern? Price will have to beat support to make this happen; otherwise, a new hold at support and break of resistance could suggest buyers are going to form a new leg up.
We will contnue to watch seller momentum today; also, check out the USDCAD, as it may try to make a new push higher, and Crypto, as it continues to push higher into the new week.
Good trading.
OIL SELLPeace be upon you, according to my analysis of the oil market. There is a very good selling opportunity. The market has reached an important point, which is the 61% Fibonacci retracement of the golden ratio. It also reached a very strong resistance level at 89. We also notice the formation of a red candle with a tail on the 2-hour frame, indicating a strong entry by sellers. All these factors confirm that the market is for sale. Good luck everyone
BACK TO 82!!!!!If we encounter a gap that needs to be filled, we opted for a 1:4 trade, indicating the necessity to address this gap. This decision was prompted by our deviation from the established sideways trend and supported by several technical confirmations that guided us to follow and stay informed.
[EN] Shoulder-Head-Shoulder in oil? // GaliortiTradingIn the more immediate term, EASYMARKETS:OILUSD accumulates a large oversold position. In the August/October period of this year there was a clear bearish divergence between the RSI and prices, which together with the proximity of the top of the bearish channel presaged a price correction. This has been the case.
The proximity to the 200-session EMA makes us expect an immediate rebound as the most likely scenario. Likewise, the entry into a liquidity zone ($80-82) will facilitate this rebound.
However, we believe that the weakness of the rebound will lead to a second wave of declines based on:
- the breakout of the 200 EMA support in a second attack
- having previously swept the buy orders from the liquidity zone .
It seems to us that this fall will be fast and vertical until it reaches the bullish trendline of May this year.
Consequently, EASYMARKETS:OILUSD could be developing a shoulder-head-shoulder chart pattern within its bearish channel that had been configured since the summer of last year. A return to the lower portion of the channel by the end of the first quarter of 2024 would not be out of the question.
This analysis, from a technical point of view, could be favored by the performance of the dollar index (depending on the Fed's rate decisions ) and by the weakness of global demand if global GDP slows down as current data suggest, which will slow down industrial activity. Also, the development of the Ukrainian war could condition Russia to unilaterally increase its production in order to finance its spending.
We do not expect a supply/demand shock, but we do expect a downward restructuring of demand . The production restrictions of the other OPEC members to keep oil prices stable may be partially offset by China's objective to increase its production in order not to depend so heavily on the outside world.
Pablo G.
Oil 4H continue to achieve negative targetsOil
The price suffered more damage yesterday
stabilizing above 87.08 will support rising to touch 87.67 , 88.54 then 90.39
stabilizing under 87.08will support falling to touch 83.26 and then 81.94
Pivot Price: 87.08
Resistance prices: 87.67 & 88.54 & 90.39
Support prices: 83.26 & 81.94 & 80.55
timeframe: 4H
USOIL DAILY TIME FRAME The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy
CFDs on WTI Crude Oil 4H Hello Traders
WTI is continuing with major pullbacks off the upper resistance cluster level increasing the bearish momentum.
WTI is likely to finalize the whole ascending wedge with the main breakout below the boundary.
USOIL just retested the low of last week and started to rise from there without any stop.
stabilizing above 87.67 will support rising to touch 89.46, 90.39 then 90.98
stabilizing under 87.67 will support falling to touch 86.08 and then 45.59
Pivot Price: 87.67
Resistance prices: 89.46 & 90.39 & 90.98
Support prices: 86.08 & 84.59 & 83.69
timeframe: 4H
WTI Crude Oil 4H midday updateOil prices are under negative pressure to reach the level of 94.20, but requires anticipation from previous negotiations Today, the price is under further negative pressure during the previous session, including a break of 94.55 key price trend against the upside It has the chairman's target of 96.60.
stabilizing under 94.55 will support falling to touch 92.35the 90.98
Pivot Price: 94.55
Resistance prices: 96.60 & 98.34 & 100.14
Support prices: 92.35 & 90.98 & 88.73
timeframe: 4H
WTI Crude Oil 4H Oil midday updateUSOIL
Oil price resumes its positive trading now, confirming the continued dominance of the upward trend during the coming sessions, and the way is open to achieving our first target at 92.19
.
stabilizing above 90.43 ill support rising to touch 92.19 then 93.27 then 95.07
stabilizing under 90.43 will support falling to touch 88.73 the 87.64
Pivot Price: 90.43
Resistance prices: 92.19 & 93.27 & 95.07
Support prices: 88.73& 87.64& 86.08
timeframe: 4H
The general trend expected for today: bullish
USOIL: Crude oil analysis and planning
Last Friday opened 89.5, went up to 90.3 and then fell back up again at 89.7 to be supported, crossed the previous high of 90.3 to 91.2, which is near the upper edge of the adjustment range said before, the price fell as scheduled, was supported at 89.2, 91 short orders gained more than 10 points last week, and rebounded to 90.4 after being supported. The last line was pulled in at 90.2, and the day line recorded a small Yang of a long shadow line.
The crude oil adjustment level now comes to the 4-hour level, the adjustment range is 91.3 to 88.4, because the adjustment level has just been expanded from the 1-hour level to the 4-hour level, and it is still much lower in this range today.
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USOIL 4H RETEST USOIL
As we said the direction is still rising and did a retest ,and it will rise again
stabilizing above 90.43 ill support rising to touch 92.19 then 93.27 then 95.07
stabilizing under 90.43 will support falling to touch 88.11 the 86.08
Pivot Price: 90.43
Resistance prices: 92.19 & 93.27 & 95.07
Support prices: 88.11& 86.08& 85.00
timeframe: 4H
Crude oil trend analysis
Last Friday there was a unilateral rise of more than 20 points, which is not large in terms of magnitude. After all, the one-day fluctuation in previous years was 30 points. Crude oil prices have been rising for 3 consecutive months. I think that in The price will usher in a correction this week. There will be a certain degree of decline.
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OIL SELLHi, According to my oil market analysis, there is a very good selling opportunity. The price has reached a very strong resistance. A tail candle was formed from the top. It indicates taking out the buyers in the area of 88. Before the drop. Good luck everyone
USOIL PREPARING FOR SHORT!!Hey Traders,
Here we have another analysis for USDWTI ,
So we expect bearish move in higher TF,
We have two extreme resistance level you can look for short in those areas,
Everything else determined properly on the chart, I will try to share with you my entry setup on USOIL, so make sure you do not miss our analysis,
Any question about USDWTI comment me bellow!
@FxShzd team
