Crude-oil
Why Is Today's Low Crucial For Crude Oil?Crude Oil (June)
Yesterday’s close: Settled at 82.15, down 2.68
June WTI Crude Oil futures are now front month and our levels are updated below. A sharp move, in this case the two-day drop, is not uncommon during times of roll and post option expiration as Crude Oil tends to cleanse positioning. With geopolitics front and center as the weekend approaches, major three-star support was tested head on at 80.78-81.06. This aligns with the gap close and gap open after a pennant consolidation from March 20th through March 27th.
Bias: Neutral/Bullish
Resistance: 82.70-82.82**, 83.32-83.44***, 84.01-84.39***
Pivot: 82.01-82.15
Support: 81.45**, 80.78-81.11***, 80.12***, 78.80-79.02***, 78.01-78.43
Check out CME Group real-time data plans available on TradingView here: www.tradingview.com
Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
USOIL Nearing Resistance Trendline Area: Breakout or Pullback?USOIL prices have been on an upward trend in recent weeks, driven by supply concerns and geopolitical tensions in the Middle East. The price has approached a key resistance trendline area, where a breakout or pullback could occur.
If the price breaks above the resistance trendline area, it could signal a continuation of the uptrend, with potential targets at 93.21 and higher. A breakout could be fueled by further supply disruptions or escalating geopolitical tensions
Alternatively, the price could pull back before breaking out. A pullback could find support at the 67-70 levels. If the price rebounds from support and breaks above the resistance trendline, it would still be considered bullish.
CRUDE OIL Will Grow! Buy!
Hello,Traders!
CRUDE OIL is making a local
Bearish correction but the
Price will soon retest a
Horizontal support level
Around 80$ per barrel
From where we will be
Expecrting a bullish
Reaction, as Oil is trading
In an local uptrend
Buy!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
CRUDE Analysis - Continuous, Just as the Markets !This is a Thread, so Follow for Technical Analysis performed with TrapZone Pro & Unusual Market Volume Detector (UMVD) Indicators.
* Trend is Based on TrapZone Color
* Bar Colors give us Momentum Green from strong Up Moves. Red Bars point to strong Down Moves.
* Red UMVD = Selling Pressure & Green UMVD = Buying Pressure. Purple is for Divergence = Battle of Supply & Demand
--------------------
1-15-2024
DN trend with Red TrapZone but Green UMVD at the moment. Price has not retraced deep to the top of the TrapZone and we have RED Bars indicating strong downward price momentum
CRUDE OIL Bullish Breakout! Buy!
Hello,Traders!
CRUDE OIL broke a strong
Key horizontal level of 79.61$
And the breakout is confirmed
So we are now bullish biased
And I will be expecting
A further bullish continuation
Buy!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
BRN - CRUDE OIL Short opportunity📉 Breaking News: BRN Crude Oil Faces Bearish Pressure Amidst Global Uncertainty
Interest Rate Concerns: Federal Reserve Governor Christopher Waller’s recent comments hinting at delayed interest rate cuts have raised concerns about sluggish economic growth. As a result, oil demand is expected to be curbed, impacting BRN crude prices
Pipeline Shortage in Canada: Canadian oil production is poised to hit a record high of 5.3 million barrels daily, straining the country’s pipeline network. This excess supply is contributing to the bearish sentiment.
Remember, the oil market is as volatile as ever, and unexpected twists can sway prices in either direction. Keep an eye on the news and consider diversifying your portfolio to mitigate risks during these uncertain times. 🛢️💸
Disclaimer: This post is for informational purposes only and does not constitute financial advice. Always consult with a professional before making investment decisions.
CRUDE OIL Potential Short! Sell!
Hello,Traders!
CRUDE OIL has formed a
Bearish wedge pattern
And is now trying to
Make a bearish breakout
So we are bearish baised
And IF the breakout is confirmed
Then we can go short
Sell!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
WTI Crude OilHI Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
The way I told you, you have to trade like this and you will have more profit always and you will not be a loss.
a daily price action after hour update - oilGood evening and i hope you are well.
wti crude oil
bull case: Amazing day by the bulls. They broke strongly out of the bear flag and made the market always in long on the daily so i expect follow through to 78 or higher.
bear case: Bears see this as a trading range and they want the market to form a lower high below 78. After such a strong move on the daily, bears expect bulls to take profits and the market probably will go sideways before another leg up or down.
short term: neutral here - valid targets on both sides and today was strong enough for a breather over the next 1-2 days. If bulls manage to keep this running, 80 is highly probable but first they need a higher high above 79.
medium-long term: Sideways until clear break of range between 70-80
trade of the day: long → see chart