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XTIUSD( US OIL )LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
FXOPEN:XTIUSDLong
by ForexPlanet20
The Price of Oil Sets Maximum of the YearYesterday, the price of WTI oil rose above USD 85.50 per barrel. This has not happened since November 2022. On August 24, we wrote that the price of oil could find support for growth from the lower border of the rising channel, as well as from the level of USD 78.50. Since then, the price of WTI oil has risen by more than 9%. Fundamentally this contributed to: → the policy of limiting production by OPEC+ countries; → expectations that the Chinese economy will recover thanks to the incentives of the authorities. According to Trafigura, a large company trading mainly in metals and energy resources, investment in the development of the oil industry is not enough, and a price of up to USD 88 can be considered fair in the current circumstances. Bullish arguments: → the price of oil has not yet reached the upper limit of the rising channel, leaving the potential for updating the highs of the year; → the level at 81.50, which worked as a resistance, can now provide support; → support can also be provided by the median line of the uplink. Bearish arguments: → rising oil prices are unfavorable for large economies, including the United States, which are struggling with high inflation. We can expect steps from governments aimed at lowering prices; → after 2 weeks of rapid growth (and especially on August 31 and September 1), a pullback would be a logical development for a market that is “overheated”. The RSI indicator indicates overbought. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
Crude Oil Price Turn GreenCrude oil price is rising and it could climb further higher toward the $85 resistance. Important Takeaways for Oil Prices Analysis Today · Crude oil prices are also moving higher above the $82.00 resistance zone. · There is a connecting bullish trend line forming with support near $82.80 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price started a decent increase against the US Dollar. The price gained bullish momentum after it broke the $80.65 resistance as mentioned in the previous analysis. There was a sustained upward move above the $82.00 and $82.50 resistance levels. The bulls pushed the price toward $83.50. The current price action is positive above the 50-hour simple moving average and RSI is well above 60. If the price climbs further higher, it could face resistance near $83.80. The first major resistance is near the $84.20 level. Any more gains might send the price toward the $85.00 level. Conversely, the price might correct gains and test the 23.6% Fib retracement level of the upward move from the $80.65 swing low to the $83.44 high at $82.80. There is also a connecting bullish trend line forming with support near $82.80. The next major support on the WTI crude oil chart is near the 50% Fib retracement level of the upward move from the $80.65 swing low to the $83.44 high at $82.00. If there is a downside break, the price might decline toward $80.65. Any more losses may perhaps open the doors for a move toward the $78.65 support zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
XTIUSD ( US OIL ) LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
FXOPEN:XTIUSDLong
by ForexPlanet20
Crude Oil Price Signal Negative Trend Crude oil price is also declining and showing bearish signs below $80.00. Important Takeaways for Oil Prices Analysis Today · Crude oil prices are also moving lower below the $80.00 resistance zone. · There is a key bearish trend line forming with resistance near $80.00 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to continue higher above $84.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $83.00. There was a steady decline below the $81.45 pivot level. The bears even pushed the price below $80.00 and the 50-hour simple moving average. Finally, it tested the $78.60 zone. A low is formed near $78.58 and the price is now attempting a recovery wave. There was a move above the 50-hour simple moving average. However, the price is struggling near the 23.6% Fib retracement level of the downward move from the $84.30 swing high to the $78.58 low. There is also a key bearish trend line forming with resistance near $80.00. If the price climbs further higher, it could face resistance near the 50% Fib retracement level of the downward move from the $84.30 swing high to the $78.58 low at $81.45. Any more gains might send the price toward the $82.50 level. Conversely, the price might start another decline and retest the 50-hour simple moving average. The next major support on the WTI crude oil chart is near $78.60. If there is a downside break, the price might decline toward $77.50. Any more losses may perhaps open the doors for a move toward the $76.20 support zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
Crude Oil: Long-Term OutlookCrude oil price is rising and it could climb further higher toward $85. Important Takeaways for Oil Prices Analysis Today Crude oil prices are moving higher above the $76.75 resistance zone. There was a break above a key contracting triangle with resistance near $71.00 on the daily chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the daily chart of WTI Crude Oil at FXOpen, the price started a decent increase against the US Dollar. The price gained bullish momentum after it broke the $71.00 resistance. Besides, there was a break above a key contracting triangle with resistance near $71.00. The price climbed above the $75.00 pivot level as mentioned in the previous analysis. Finally, the bulls pushed the price above the 61.8% Fib retracement level of the downward move from the $84.53 swing high to the $63.90 low. The price is now trading above the 50-day simple moving average, and the 76.4% Fib retracement level of the downward move from the $84.53 swing high to the $63.90 low. It seems like the bulls are aiming for a test of $83.70. If the price climbs further higher, it could face resistance near $85.00. Any more gains might send the price toward the $88.00 level. Conversely, the price might correct gains and test the $76.75 support. The first major support is near the 50-hour simple moving average or $73.80. The next major support on the WTI crude oil chart is near $71.00. If there is a downside break, the price might decline toward $67.15. Any more losses may perhaps open the doors for a move toward the $65.00 support zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
USOIL/ XTIUSD SHORT/SELL🔰 Pair Name : XTIUSD 🔰 Time Frame : 4hrs/ Daily 🔰 Scale Type : Long Scale 🔰 Direction : Short/ Sell As a professional trader, I would like to highlight the key resistance levels for WTI crude oil. The primary resistance areas are located at $80.00, within the daily supply zone, and at $77.30, represented by the 200-day moving average (MA). Conversely, crucial support levels can be identified at $75.00 and $72.50, which form the weekly market imbalance area below. Upon analyzing the daily chart, it is evident that the bulls are currently testing the 200-day moving average in conjunction with the channel resistance, specifically around the $77.2 price area. This particular resistance has proven significant since August 2022. Additionally, the Relative Strength Index (RSI) is approaching overbought levels, signalling a potential pullback, akin to the price action observed in early April. Consequently, traders should closely monitor the psychological handle of $75.00 as a pivotal level from a bearish perspective. Meanwhile, bullish traders will be eager to witness a confirmation close above the critical resistance zone, as this could signal a potential move towards the $80.00 level. In conclusion, as professional traders, it is essential to attentively observe these price levels and market indicators to make well-informed trading decisions, capitalise on potential opportunities, and exercise caution in the face of potential risks.
FX:USOILShort
by Moon_SmartMoney
3
OIl Short In this short analysis, we will examine the recent price movement of oil within the range of $78.5 to $79 with a focus on the potential for a price reversal. We will explore key technical indicators, market sentiment, and other factors that suggest a possible shift in the oil's direction. Price Movement Overview: The oil market has seen a recent uptrend as the price climbed from $78.5 to $79. However, the current price range indicates a potential turning point, suggesting the possibility of a price reversal. Technical Indicators: Resistance Level: The $79 price level has acted as a significant resistance point in the recent past. Repeated failures to break above this level could signal a lack of bullish momentum and an increased probability of a reversal. Overbought Conditions: If the price surge from $78.5 to $79 has been rapid and significant, technical indicators like the Relative Strength Index (RSI) or Stochastic Oscillator might signal overbought conditions. An overbought market often precedes a reversal as traders take profits, leading to a downward price correction. Market Sentiment: Market sentiment plays a crucial role in price reversals. As traders and investors become wary of the extended rally and potential resistance at $79, profit-taking and cautious approaches might be observed, adding selling pressure to the market. Fundamental Factors: Demand-Supply Balance: An analysis of the supply-demand dynamics could reveal potential imbalances in the oil market. If the demand outlook weakens or if there are signs of oversupply, it could influence traders' expectations for a price reversal. Global Economic Indicators: The health of the global economy can impact oil prices. Any negative economic data or uncertainties could lead investors to reevaluate their positions, potentially triggering a reversal. Caution for Traders and Investors: For traders seeking a potential reversal, closely monitoring key technical levels and trendlines will be essential. Confirmation of a reversal signal through technical indicators and candlestick patterns can provide a stronger basis for making trading decisions. Conclusion: The oil price movement from $78.5 to $79 indicates the potential for a reversal as the market approaches a critical resistance level and may experience profit-taking and cautious sentiment. However, traders should be cautious and use additional technical and fundamental analyses to confirm a reversal before making trading decisions.
TVC:USOILShort
by realtrademaster
USOIL/ XTIUSD WHERE TO BUY🔰 Pair Name : XTIUSD 🔰 Time Frame : 4hrs/ Daily 🔰 Scale Type : Long Scale 🔰 Direction : Long/ BUY In recent times, the market has witnessed a significant development: the emergence of a Daily Bullish Pin Bar on Friday. However, it is worth noting that this particular bullish pin bar displayed signs of failure in terms of price action. This prompts us to contemplate the future trajectory of USOIL. Is this indicative of a conclusion to its upward momentum, or does it present a favorable buying opportunity? From a technical standpoint, we find ourselves at a critical juncture as we have reached the monthly and weekly demand zone, with the price currently residing within a 1-hour demand zone. Based on this analysis, our expectations lean towards a potential upward movement at this juncture, as we anticipate the price to initiate a recovery phase for the summer season. Nonetheless, it is crucial to exercise prudence and further evaluate market indicators and trends before reaching a definitive conclusion. As professional traders, we recognize the significance of thorough analysis and the need to consider multiple factors that can influence market dynamics. Therefore, I encourage you all to exercise due diligence, closely monitor market conditions, and make well-informed decisions based on a comprehensive assessment of the available data. May we navigate these market waters with precision and astuteness as we embark on this summer's trading endeavors.
TVC:USOILLong
by Moon_SmartMoney
2
USOIL/ XTIUSD LONG/BUY🔰 Pair Name : XTIUSD 🔰 Time Frame : 4hrs/ Daily 🔰 Scale Type : Long Scale 🔰 Direction : Long/ BUY In light of recent market developments, a noteworthy occurrence took place last Friday with the formation of a Daily Bullish Pin Bar. This event coincided with the release of significant news pertaining to a Russia Munity over the weekend. Both fundamental and technical indicators now exhibit a high level of alignment. As the summer season approaches, an upsurge in demand for refined fuels is anticipated. Consequently, it is an opportune moment to rectify prevailing market imbalances. We anticipate a minimum price retracement to reach 83 within the upcoming months. However, should the Russian issue escalate further, the price of oil is poised to surge towards the 90 mark.
FXOPEN:XTIUSDLong
by Moon_SmartMoney
2
Crude Oil Price Aims HigherCrude oil price is rising as the bulls aim for a move above the $72.20 resistance. Important Takeaways for Oil Prices Analysis Today · Crude oil prices are also moving higher above the $71.50 resistance zone. · There is a key bullish trend line forming with support near $70.50 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price remained stable above the $69.50 support against the US Dollar. A base was formed and the price started a decent increase above the $71 level. There was a clear move above the 50% Fib retracement level of the downward move from the $72.32 swing high to the $70.23 low. It is now trading above the 50-hour simple moving average and the RSI is rising toward 60. The bulls are showing strength above the 76.4% Fib retracement level of the downward move from the $72.32 swing high to the $70.23 low. If the price climbs further higher, it could face resistance near $72.20. The first major resistance is near the $72.50 level. Any more gains might send the price toward the $74.00 level in the coming days. Conversely, the price might correct gains and retest the 50-hour simple moving average at $71.50. The next major support on the WTI crude oil chart is near $70.50 and a connecting bullish trend line. If there is a downside break, the price might decline toward $69.50. Any more losses may perhaps open the doors for a move toward the $68.20 support zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
UKOIL(BRENT)-07/05/2023Preferred direction: BUY Comment: The long idea for oil has been working out very well and after completing the planned path earlier, the level of 77.39 opens for the buyer. A rather difficult obstacle for the buyer, because if not for it, then the price could rise above 78 from the current ones on the impulse. Therefore, in the near future, an approach to 77.39 is expected, then consolidation (most likely) and after a rise above 78. Thank you for like and share your views!
TVC:UKOILLong
by Strifor
3
XTIUSD ( US OIL ) LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
FXOPEN:XTIUSDLong
by ForexPlanet20
XTIUSD BuyAs we have seen in gold that gold has formed a triangle patteren and now if we see at Crude Oil its also forming this wedge and has complete its E wave after completion of ABCD now it will be going Upwards so we will buying this commodity after it breaks 72.89 level and price sustain there then it will be a bullish move to 73.74 price level so we wil be waiting for price action while am posting this idea seems like there is a Bullish engulfing or morubozu is forming On H1 time frame so we will until we get a clear Price action too..
FXOPEN:XTIUSDLong
by Wakeel_Saab