WTI had fallen for 3 consecutive days in Wednesday. The bank crisis is calling banks to deleverage their positions, pulling back on their exposure on oil and causing the price to fall. International Energy Agency (IEA) is also reporting that the current situation in the oil market is a situation of oversupply, while Russia is looking for buyers for its oil. The...
TVC:UKOIL According to the combination of failur in upside movement and negative news around macro economy, i expect more decline for oil price .
76.80-77.10-20 is a crucial resistance level. A break above may lead quickly towards 80.80 and beyond. Keeping below may lead to retest of 74.90 to 73.20 support trend-line. 74.90 is the trend-line, 73.20 is a cluster of horizontal support. Keep to the range and be patient!...
Because the market is vigilant about frequent and more substantial interest rate increases by the Federal Reserve, concerns about the global recession have increased, and the global stock market has generally weakened, which has dragged down oil prices. On the daily chart, oil prices continued to weaken in the short term, and fell back after the rebound in the...
Oil saw a high-volume drop below support near 78 yesterday, which turned the immediate position into a resistance level. As of now, there has not been a complete breakthrough and the trend has weakened, so in terms of trading, selling short positions is the main strategy for today, with buying long positions as a secondary strategy. Specific trading...
In the crude oil market, due to the larger-than-expected decline in U.S. crude oil inventories and bullish expectations for Chinese demand, concerns that the Federal Reserve's more aggressive interest rate increases will slow economic growth and weaken oil consumption have limited the rebound in oil prices, so the crude oil market is still uncertain. Judging...
Recently, the technical trend of crude oil has mainly been volatile, with support around 76.5-75.7 and short-term resistance around 78.1-78.8. Trading is dominated by short positions, with long positions being secondary. Specifically, short positions can be entered around 78.15, with a target around 77.5-77, while long positions can be entered around...
Crude oil was suppressed by fundamentals and high pressure. Yesterday, the daily line fell all the way, and finally the daily line closed the negative line. Crude oil currently continues to maintain a wide range of oscillations on the daily line. The 4-hour level trend is also after a continuous decline. The current deviation rate is slightly too large, and the...
After analyzing the 4-hour chart of crude oil, it is found that yesterday's market first fell and then rose, rebounding after reaching support near 78. In the short term, it has broken through resistance at 79 and 80 and now support has formed around 78 and 79. If there is a substantial breakthrough and stabilization around 81.5, there is a high probability of...
Welcome . oil market. in a very negative state. With the price reaching strong support 77.50, and breaking the pattern. double bottom, there is a lot of pressure from sellers to downgrade the market. To 75 levels in the first stage. And level 74 good luck. Note: If you like this analysis, please give your opinion on it. in the comments. I will be glad to share...
oil is about to retrace back to 76-78 zone be realistic and never enter before confirmation in LTF I am not your investment advisor, enter at your own!
Peace be upon you, there is a high probability of oil rising with the formation of the descending channel. Now he is correcting the golden ratio of Fibonacci 61%. We have two very positive candles in the four-hour time frame
Oil failing to breakout higher here, suggests that we are likely heading much lower.
Oil looks bearish on the weekly timeframe and next month looks bearish with possible new lows to bottom area 60. Oil on the weekly timeframe is in a descending downtrend channel and currently rebounding back from the upper channel of the downtrend at the resistance and supply zone at area 82 and already this week broke previous two weeks lows.
1. Weekly bias playing out 2. 4hr just closed with large top wick exhuastion at pre-planned level 78.7 3. Bear Momentum, Wicks get filled in momentum 4. High Volume time
Another Sell Position here. More Sell positions 3:1 RR back down to support.
Chevron looks like it is about to rollover after creating a new high, along with announcing a buy-back program. Not really much else to say....? bye ✌️