Oil
Oil Set to Re-test $82.71 Amidst Market ConsolidationOil prices are currently in a consolidation phase and are expected to test the $82.71 level by the London session.
This price action suggests a continuation of the uptrend. For those already in the market, it's advisable to seek sell opportunities in line with your trading strategy. For instance, if you trade using Supply and Demand principles, identify supply zones towards $82.71.
Once the market tests this zone and it holds, look for buy signals as confirmation of the continuing uptrend.
Oil recently hit a fresh two-month high, driven by mounting geopolitical risks in Europe and the Middle East, as well as the threat of a hurricane in the Caribbean. With these factors in play, a significant drop in prices is unlikely.
Therefore, it's crucial to monitor for sell setups towards this re-test zone and then prepare to capitalize on the anticipated upward momentum. There is potential to capture substantial moves towards the upside.
Natural Gas Bleeding LowerNatural gas has seen negative price action since we got the golden cross.
The 50 & 200 moving average is touted as a bullish signal but often sold into in the near term.
This sell off in Nat gas is going quick and deep.
The problem with that is the sector is leveraged with triples & doubles.
If we complete the measured move down, we should see a bit lower price.
Intra day I would not be surprised for a sharp dead cat bounce.
Trading looks easy. But many people are losing money.
TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! CME:BTC1! NYMEX:CL1! NYMEX:WTI1!
The current position of gold price is generally under some pressure. But once it rises, I think there is still a lot of room. The operation is mainly to buy at low levels. The low level around 2322-2323 is suitable for conservative traders to trade.
Newbies should not engage in scalping transactions. Because once you encounter a big market, your account will hardly support market fluctuations.
Just a friendly reminder. Because I lost about 500k doing this before
But later, with the hard work of my team and I, my account came back. I came to this market. Just to share some good trading opportunities with you better. And how to trade. Correct trading. How to avoid some bad trades.
After ten years of working in the industry, I have a lot of experience in how to trade accurately. I hope my sharing will be helpful to you.
WTI Oil H4 | Pullback support at bullish Ichimoku CloudWTI oil (USOIL) could fall towards a pullback support and potentially bounce off this level to climb higher.
Buy entry is at 80.42 which is a pullback support that aligns with the 23.6% Fibonacci retracement level.
Stop loss is at 79.50 which is a level that lies underneath a pullback support and the 23.6% Fibonacci retracement level.
Take profit is at 82.34 which is a pullback resistance level.
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USOILOil analysis
Time frame 4 hours and 12 hours
Middle oil oil broke and stabilized its 12-hour trading range. Now it has formed a new 4-hour trading range, the supply and demand areas of which are clear in the picture. The price is expected to return to the limit of $80.7 and move towards the target of $84 by filling the FVG.
USOIL Technical Analysis! SELL!
My dear friends,
Please, find my technical outlook for USOIL below:
The instrument tests an important psychological level 81.44
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 79.69
Recommended Stop Loss - 82.73
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
CRUDE OIL (WTI): Your Trading Plan For Next Week
Crude Oil is consolidating after a strong bullish wave.
The price is stuck within a narrow range on a daily.
To buy the market with a confirmation,
wait for a bullish breakout of the resistance of the range.
A daily candle close above 82.0 will confirm the violation.
A bullish continuation will be expected to 83.5 level then.
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USOIL Will Move Lower! Sell!
Take a look at our analysis for USOIL.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 82.14.
Considering the today's price action, probabilities will be high to see a movement to 77.22.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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CRUDE OIL BULLISH BIAS|LONG|
✅CRUDE OIL will be retesting a support level of 80.50$ soon
From where I am expecting a bullish reaction
With the price going up but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
LONG🚀
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Crude Oil upward trajectory !!NYMEX:CL1!
Crude oil is moving upwards by marking HH @ 95 and HL @ 81.5,
81.5 is .786 fib support from previous low),
Curved parallel channel suggests that max downward should be around 79; which is .886 fib level from 77.71),
97 & 104 will be crucial level in coming weeks as resistance.
USOIL, sell high and buy low to participateTechnical analysis of crude oil
Daily resistance 83.4, support below 79
Four-hour resistance 81, support below 80-78.5
Crude oil operation suggestions: Crude oil 4-hour chart is still shrinking and consolidating, and short-term contraction and shock are waiting to accumulate momentum to open up space. In the short term, there is still an expectation of further downward adjustment. Today's upper resistance focuses on the opening of yesterday's hourly line around 81.3-81.5. The intraday rebound relies on this position to continue to look down with the main short. The short-term support below focuses on 79.7-79.5. The European and American markets stabilize at this position once more and then look at shocks and rebounds. Sell high and buy low (At the same time, beware of the technical changes and there is also a warning of a sharp drop and wash)
SELL:80.7near SL:81.10
SELL:82.0near SL:82.40
SELL:83.4near SL:83.70
Technical analysis only provides trading direction!
Saudi Arabia delivers a major blow to the dollar!Oil prices have shown steady growth from $76 to $85 per barrel of Brent crude (#BRENT) since the beginning of June. This rise is driven by seasonal factors: high consumer activity during the summer driving season, increased demand from the transportation sector, and higher electricity consumption for air conditioning.
However, a more significant development in the oil market is the expiration of the 50-year-old Security Agreement between Saudi Arabia and the USA, signed in 1974, and Riyadh's refusal to renew it.
The agreement facilitated economic cooperation and military needs between the two nations, stabilizing the situation after the crises of the 1970s. The US benefited from oil at favorable prices, while Saudi Arabia gained a technological ally and wealth. Crucially, this agreement mandated that Saudi Arabia sell its oil exclusively for dollars, a restriction that no longer applies. This system greatly strengthened the dollar's position as the dominant global reserve currency by creating worldwide demand for dollars directly tied to oil transactions. Many have called this the "deal of the century."
Abandoning the petrodollar system could, in the long run, weaken the dollar's influence and impact US financial markets, reducing Washington's ability to accumulate national debt and profit from exports. Countries like China, Russia, Iran, and India are increasingly settling trades in their national currencies. By 2023, already 20% of global oil was being purchased without using the dollar. Now, Saudi Arabia can sell oil for any currencies or assets, including the yuan, gold, and even cryptocurrencies, which could significantly boost the value of these assets over time.
FreshForex analysts recommend closely monitoring changes in settlement schemes in the energy markets. Trading instruments like Bitcoin (BTCUSD), Gold (XAUUSD), and the US Dollar to Chinese Yuan (USDCNH) might become very profitable investments in the future .
Invest ahead of the curve!
Oil is still under Bearish PressureHello Guys,
I see a larger Timeframe Consolidation since some Years from 98 - 70 Dollars. We have approached the middle Line of this Yearly Consolidation Line and see some weekness taking place. However, for this idea to be confirmed I will wait for the black trendline to be broken and have a bearish pattern below it.
This may take place from the green highlighted area of 84-86 - a break of the area with a retest would be bringing more optimism from bullish territories into the fields. Below this I believe that we are going to see a leg lower - with the targets being 80 - 75 - 70 Dollars.
I will use my trading strategy to enter safely on the lower timeframes. Ideally this will happen on the 2h-4h Chart - but I prefer to enter on the hourly.