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WTI CRUDE OIL: Hard rebound on 1.5 year support targeting $72.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 48.748, MACD = -1.080, ADX = 23.603), which indicates the slow transition from a bearish trend to bullish. This started when the price hit the S1 level, a 1.5 year Support, and bottomed. The slow rebound that we're having since formed a Channel Up on a bullish 1D RSI, much like the one in September 2024, which eventually peaked after a +10.70% price increase. A similar rebound is expected to test the 1D MA200. The trade is long, TP = 72.00. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
Crude oil ------- sell around 70.00, targeCrude oil market analysis: Yesterday's crude oil daily line closed with a big positive, is it a buying opportunity? In fact, looking at the pattern, it has been hovering at this position for a long time, and the short-term is basically a snake. If the position of 70.00 is not broken, it is difficult to form a buying opportunity. The idea of ​​crude oil today is still bearish. Continue to sell on the rebound. The previous contract delivery of crude oil has not changed the trend. I think it still needs to fluctuate. Operation suggestion: Crude oil ------- sell around 70.00, target 68.00-66.00
NYMEX:CL1!Short
by BraveTigercat
OIL Today's strategyIn the short term, there is a simultaneous advance of the long positions in crude oil. The price has tested the vicinity of $68.5 several times but encountered resistance. Moreover, after reaching around $65.2 at the lower level, it rebounded rapidly. The market still needs further testing. In the short term, it is advisable to sell high and buy low within the range of $68.5 to $65.2. OIL Today's strategy sell@67.5-67.9 buy:65.7-66.2 If you don't know how to do it, you can refer to my transaction.
TVC:USOIL
by HenryClarke
1
USOIL at Critical Support – Rebound Toward 73$?TVC:USOIL has reached a major demand zone, an area that has historically acted as strong support. This region has previously triggered sharp rebounds, making it a key level to watch for a potential bullish reaction. The recent sell-off has pushed the price deep into this zone, and early signs of rejection could indicate that buyers are stepping in. If support holds, we could see a recovery toward $73, aligning with a corrective move. However, if price fails to hold and breaks decisively below this zone, it would signal continued weakness, opening the door for further downside, possibly targeting the next support area. Traders should wait for confirmation, such as bullish price action, increased buying volume, or key reversal patterns before committing to long positions.
TVC:USOILLong
by DanieIM
16
Weekly Market Forecast WTI CRUDE OIL: Bearish! Wait For SellsThis forecast is for the week of March 17 - 21st. WTI Crude Oil is in consolidation, but forming a wedge pattern. As the market condenses, we no watch out for a breakout that could go in either direction. But if we take note of the Weekly bearish FVG that formed last week, we simply wait for price to sting into it and use it to move lower. The market is weak, and has been trending down for over two months now. Using the trend and the -FVG, the higher probability is for price to continue lower, as long as the -FVG holds. Check the comments section below for updates regarding this analysis throughout the week. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
NYMEX:CL1!Short
by RT_Money
WTI CRUDE OIL: 4H Channel Down targeting 64.00WTI Crude Oil is almost oversold on its 1D technical outlook (RSI = 33.014, MACD = -1.680, ADX = 27.887) but on the lower 4h timeframe its formed a Channel Down that just completed a peak formation. This indicates that it is ready for its next bearish wave, with the previous two registering -6.55% declines. The trade is short, TP = 64.00. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
1
Crude Oil Prices: Double-Edged Sword for Indian Marketers The global crude oil market, a volatile beast, dictates the energy landscape for nations worldwide.1 For India, a nation heavily reliant on oil imports, the fluctuations in crude oil prices carry significant implications.2 While a dip in crude oil prices might seem like a welcome relief, especially for consumers, it presents a complex and often challenging scenario for oil marketing companies (OMCs) operating within the Indian market. This seemingly beneficial drop in prices acts as a double-edged sword, bringing with it a unique set of complexities that stem from market dynamics, government policies, and the intrinsic characteristics of the oil and gas sector.3 The initial and seemingly positive impact of lower crude oil prices is the potential for reduced import costs.4 For a country like India, where a substantial portion of its energy needs are met through imports, this can lead to a decrease in the overall expenditure on crude oil. This reduction can, in turn, alleviate pressure on the nation's current account deficit and theoretically translate to lower fuel prices for consumers. However, this potential benefit is often overshadowed by the ever-present threat of government intervention through excise duty hikes. Governments, seeking to bolster their revenue, often capitalize on falling crude oil prices by increasing excise duties on petrol and diesel.5 This strategic move allows them to capture a significant portion of the savings that would otherwise be passed on to consumers. For OMCs, this translates to a reduction in the potential for increased margins. While they still benefit from reduced raw material expenses, the extent of the gain is substantially diminished. This delicate dance between market forces and government policies creates a complex environment for OMCs to navigate. Furthermore, the expectation of price cuts for end consumers becomes a significant challenge for OMCs. Consumers naturally anticipate a corresponding reduction in fuel prices when crude oil prices decline. However, OMCs must carefully balance this expectation with the need to maintain their financial health. Rapid and substantial price cuts can strain their profitability, especially when coupled with excise duty adjustments. This balancing act requires a delicate approach, as OMCs must ensure their financial stability while remaining responsive to consumer demands. Beyond the immediate impact on OMCs, lower crude oil prices pose a significant challenge to the upstream oil and gas sector. Upstream companies, involved in exploration and production, are directly affected by the decline in realized prices for their crude oil. This can lead to reduced profitability, delayed or cancelled investment projects, and even financial distress for some companies. The economic viability of many oil and gas fields is contingent on a certain price threshold. When prices fall below this level, production becomes less attractive, potentially hindering future energy security. The impact on the gas sector is particularly noteworthy. Natural gas economics are often intertwined with crude oil prices, with gas prices sometimes linked to oil price benchmarks.6 A decline in crude oil prices can thus indirectly affect gas prices, making gas production and distribution less profitable. This can have broader implications for the energy sector, as natural gas is increasingly seen as a cleaner alternative to other fossil fuels.7 Reduced investment in gas infrastructure and production can hinder the transition towards a more sustainable energy mix. Moreover, the volatility associated with fluctuating crude oil prices creates uncertainty for OMCs and the entire energy sector.8 Long-term planning and investment decisions become more difficult when the market is subject to rapid and unpredictable price swings. This uncertainty can deter investment in new projects and hinder the development of a stable and reliable energy supply. This volatility necessitates a robust and adaptable strategy for OMCs to navigate the unpredictable market. From a macroeconomic perspective, while lower crude prices can potentially stimulate economic activity by reducing fuel costs for businesses and consumers, the potential for reduced government revenue due to lower oil prices (if excise duties are not increased) must be considered. In a country like India, where government revenue is crucial for funding infrastructure projects and social programs, a significant decline in oil-related revenue can have far-reaching consequences. This highlights the need for a balanced approach to fiscal policy, ensuring that government revenue remains stable while providing relief to consumers. The challenges posed by lower crude oil prices highlight the need for a balanced and nuanced approach to energy policy. Governments must strike a delicate balance between providing relief to consumers, maintaining fiscal stability, and supporting the long-term health of the oil and gas sector. This requires careful consideration of excise duty adjustments, pricing mechanisms, and investment incentives. A coherent and forward-looking energy policy is essential to navigate the complexities of the global crude oil market and ensure the nation's energy security. In conclusion, while lower crude oil prices may appear to be a boon, they present a complex set of challenges for OMCs and the broader Indian oil and gas sector. The potential for excise duty hikes, concerns about price cuts, and the impact on upstream realisations and gas economics create a double-edged sword scenario. Navigating this complex landscape requires careful policy decisions and a comprehensive understanding of the intricate dynamics of the global energy market. OMCs must remain adaptable and resilient, while governments must implement policies that balance consumer needs with fiscal stability and long-term energy security.
BLACKBULL:WTI
by bryandowningqln
WTI CRUDE OIL: Major bullish signal on 1W.WTI Crude Oil turned oversold on its 1D technical outlook (RSI = 30.839, MACD = -1.280, ADX = 30.692) as it entered the 2 year S1 Zone. This is where all major rebounds took place. In the meanwhile a 1W RSI below 40.000 (like now) has been the strongest buy signal in the same period of time. Buy and target the LH Zone (TP = 76.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
1
Oil ($USOIL) – Diesel Demand Soars as Cold Grips U.S.Oil ( TVC:USOIL ) – Diesel Demand Soars as Cold Grips U.S. (1/9) Good morning, Tradingview! Oil is dipping slightly 📉, at $ 74.93, down 0.1% from yesterday’s close, as per February 27, 2025, data. Cold weather’s driving up U.S. diesel demand 💪, and Texas power systems are hitting clean energy milestones 🌿. Let’s dive into this oil play! 🔍 (2/9) – REVENUE PERFORMANCE 📊 • Post-Election: $ 74.93, down 0.1% from $ 75.00 💰 • Feb 27, 2025: Diesel demand rises due to cold weather 📏 • Texas Power: Clean energy milestones achieved 🌟 TVC:USOIL steady, with diesel’s boost! ⚙️ (3/9) – MARKET POSITION 📈 • Market Cap: Approximately $ 1.05B, tracks WTI crude tight 🏆 • Diesel Spike: Cold lifts usage, per Reuters ⏰ • Energy Shift: Texas clean power climbs 🎯 TVC:USOIL firm, frost pays off! 🚀 (4/9) – KEY DEVELOPMENTS 🔑 • Cold Snap: Boosts diesel usage across U.S. 🔄 • Texas Grid: Clean energy marks met 🌍 • Market Reaction: Down 0.1% post-election 📋 TVC:USOIL adapting, chill’s the star! 💡 (5/9) – RISKS IN FOCUS ⚡ • Election Aftermath: Policy shifts may affect prices 🔍 • Green Energy Growth: Challenges oil’s dominance 📉 • Weather Flux: Diesel demand may fluctuate ❄️ TVC:USOIL tough, but risks hover! 🛑 (6/9) – SWOT: STRENGTHS 💪 • Diesel Lift: Cold weather props up demand 🥇 • Oil Core: Fundamental to energy needs 📊 • Resilience: Handles market fluctuations 🔧 TVC:USOIL got heat in the freeze! 🏦 (7/9) – SWOT: WEAKNESSES & OPPORTUNITIES ⚖️ • Weaknesses: Election haze, green energy bite 📉 • Opportunities: Continued cold weather, rising demand 📈 Can AMEX:USO bank on the frost to gains? 🤔 (8/9) – OIL’s $ 74.93 dip, diesel up in Feb 2025, your take? 🗳️ • Bullish: $ 80+ soon, cold lasts 🐂 • Neutral: Steady, risks in check ⚖️ • Bearish: $ 70 looms, green wins 🐻 Chime in below! 👇 (9/9) – FINAL TAKEAWAY 🎯 TVC:USOIL $ 74.93 dip masks diesel’s cold surge 📈, Texas green strides mix it up 🌿. Election stings, yet dips are our DCA gold 💰. We grab ‘em low, climb like pros! Gem or bust?
TVC:USOILLong
by DCAChampion
WTI CRUDE OIL: Approaching the 2year Buy Zone.WTI Crude Oil turned bearish on its 1D technical outlook (RSI = 35.899, MACD = -0.720, ADX = 32.215) failing to cross above the 1D MA50 last Thursday and eventually getting rejected to today's low. This low just hit the HL trendline of September and is about to enter the S1 Zone that has been holding since March 2023. Every breach inside this Zone has been the best long term buy opportunity on WTI. Until the Zone breaks, we will treat it as the best buy entry, aiming at the LH Zone (TP = 77.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
Levels to consider for Crude oil Futures CL1!On this video i discuss what I think is the next long/short to consider and illustrate how not to get caught up in the noise of low probability setups . Currently we are trading inside of a range between the POC and the VAH . I look back on previous highs in the chart and how we reacted at those levels and what I potentially see looking forward . My bias overall is expecting more downside but I dont marry that one bias and simply look at the PA from both sides with a focus on having a plan in the event of a move up or Down .
NYMEX:CL1!
by SJTRADESFUTURES
Oil weekly forecast with buy and sell levelsOil on the weekly chart shows a strong downtrend probably due to economic policies and over production. This week we have to remain cautious and stick to known levels off previous support and resistance. For a buy ill look at entering at 70.80 and follow up through the marked levels. For a sell entry ill look at 70.20 expecting 69.30, 67.80 and high support at 67.00 to 66.80 levels. Check out my other trade ideas linked below for Gold
TVC:USOIL
by F0rexBorex
2
How Can You Trade Energy Commodities?How Can You Trade Energy Commodities? Energy trading connects global markets to the vital resources that power economies—oil and natural gas. These commodities aren’t just essential for industries and homes; they’re also dynamic assets for traders, influenced by geopolitics, supply, and demand. Whether you’re exploring benchmarks like Brent Crude and WTI or understanding natural gas markets, this article unpacks the essentials of energy commodities and how to trade them. What Is Energy Trading? Energy trading involves buying and selling energy resources that power industries and households worldwide. These commodities are essential for modern life and are traded in global markets both as physical products and financial instruments. Energy commodities include resources like oil, natural gas, gasoline, coal, ethanol, uranium, and more. In this article, we’ll focus on the two that traders interact with the most: oil and natural gas. Oil is often divided into benchmarks like Brent Crude and WTI, which set global and regional pricing standards. These benchmarks represent crude oil that varies in quality and origin, impacting its trade and refining applications. Natural gas, on the other hand, plays a critical role in electricity generation, heating, and industrial processes. It’s traded in various forms, including pipeline gas and liquefied natural gas (LNG), offering flexibility in transportation and supply. What makes energy commodities unique is their global demand and sensitivity to external factors. Weather patterns, geopolitical developments, and economic activity all heavily influence their prices. For traders, this creates a dynamic market with potential opportunities to take advantage of price movements. Additionally, energy commodities can act as economic indicators. A surge in oil prices, for example, might reflect growing demand from expanding industries, while a drop could indicate reduced consumption. Understanding these resources isn’t just about their practical use—it’s about grasping their role in shaping global markets and financial systems. Oil: Brent Crude vs WTI Brent Crude and WTI (West Texas Intermediate) are the world’s two leading oil benchmarks, shaping prices for a resource critical to industries and economies. Despite both being types of crude oil, they differ significantly in origin, quality, and market influence. Brent Crude Brent Crude is a globally recognised benchmark for oil pricing, primarily sourced from fields in the North Sea. Its importance lies in its role as a pricing reference for about two-thirds of the world’s oil supply. What makes Brent unique is its lighter and sweeter quality, meaning it has lower sulphur content and is easier to refine into fuels like petrol and diesel. This benchmark is particularly significant in European, African, and Asian markets, where it serves as a key indicator of global oil prices. Its value is heavily influenced by international demand, geopolitical events, and production levels in major exporting countries. For traders, Brent offers a window into global supply and demand trends, making it a critical component of energy markets. West Texas Intermediate (WTI) WTI, or West Texas Intermediate, is the benchmark for oil produced in the United States. Extracted primarily from Texas and surrounding regions, WTI is even lighter and sweeter than Brent, making it suitable for refining into high-value products like petrol. WTI’s pricing is heavily tied to North American markets, with its hub in Cushing, Oklahoma, a key point for storage and distribution. Localised factors, like US production rates and storage capacity, often create price differentials between WTI and Brent, with Brent typically trading at a premium. For example, logistical bottlenecks in the US can drive WTI prices lower. The main distinction between the two lies in their geographical focus: while Brent captures the international market’s pulse, WTI provides insights into North American energy dynamics. Together, they form the foundation of global oil pricing. Natural Gas: A Growing Energy Commodity Natural gas is a cornerstone of the global energy market, valued for its versatility and role in powering economies. It’s used extensively for electricity generation, heating, and industrial processes, with demand continuing to rise as countries seek cleaner alternatives to coal and oil. This energy commodity comes in two primary forms for trade: pipeline natural gas and liquefied natural gas (LNG). Pipeline gas is delivered directly via extensive networks, making it dominant in regions like North America and Europe. LNG, on the other hand, is supercooled to a liquid state for transportation across oceans, opening up markets that lack pipeline infrastructure. LNG trade has grown rapidly in recent years, with key suppliers like Qatar, Australia, and the US meeting surging demand in Asia. Pricing for natural gas varies regionally, with hubs like Henry Hub in the US and the National Balancing Point (NBP) in the UK serving as benchmarks. These hubs reflect regional dynamics, such as weather conditions, storage levels, and local supply disruptions. Natural gas prices are also closely tied to broader geopolitical and economic factors. For example, harsh winters often drive up heating demand, while conflicts or sanctions affecting major producers can create supply constraints. This volatility makes natural gas an active and highly watched market for traders, offering potential opportunities tied to shifting global conditions. Price Factors of Energy Commodities Energy commodity prices are influenced by a mix of global events, market fundamentals, and local factors. Here’s a breakdown of key elements driving oil and gas trading prices: - Supply and Production Levels: Output from major producers like OPEC nations, the US, and Russia has a direct impact on prices. Supply cuts or surges can quickly move markets. - Geopolitical Events: Conflicts, sanctions, or political instability in oil and gas-rich regions often disrupt supply chains, creating volatility. - Weather and Seasonal Demand: Cold winters boost natural gas demand for heating, while summer driving seasons often increase oil consumption. Extreme weather events, such as hurricanes, can also damage infrastructure and reduce supply. - Economic Growth: Expanding economies typically consume more energy, driving demand and prices higher. Conversely, a slowdown or recession can weaken demand. - Storage Levels: Inventories act as a cushion against supply disruptions. Low storage levels often signal tighter markets, pushing prices up. - Transportation Costs: The cost of shipping oil or LNG across regions impacts pricing, particularly for seaborne commodities like Brent Crude and LNG. - Exchange Rates: Energy commodities are usually priced in dollars, meaning currency fluctuations can affect affordability in non-dollar markets. - Market Sentiment: Traders’ expectations, shaped by reports like US inventory data or OPEC forecasts, can influence short-term price movements. How to Trade Energy Commodities Trading energy commodities like oil and natural gas involves navigating dynamic markets with the right tools, strategies, and risk awareness. Here’s a breakdown of how traders typically approach energy commodity trading: Instruments for Energy Trading Energy commodities can be traded through various instruments, typically through an oil and gas trading platform. For instance, FXOpen provides access to oil and gas CFDs alongside 700+ other markets, including currency pairs, stocks, ETFs, and more. - CFDs (Contracts for Difference): Popular among retail traders because they allow access to global energy markets without owning the physical assets. They offer leverage and provide flexibility to take advantage of both rising and falling prices. Additionally, CFDs have lower entry costs, no expiration dates, and eliminate concerns like storage or delivery logistics. Please remember that leverage trading increases risks. - Futures: These are contracts to buy or sell commodities at a future date. While they provide leverage and flexibility, trading energy derivatives like futures is often unnecessarily complex for the average retail trader. - ETFs (Exchange-Traded Funds): Energy ETFs diversify exposure to energy commodities or related sectors. - Energy Stocks: Shares in oil and gas companies provide indirect exposure to commodity price changes. Analysis: Fundamental and Technical Energy traders rely on two primary types of analysis: - Fundamental Analysis: Examines supply and demand factors like OPEC decisions, weather patterns, geopolitical tensions, and economic indicators such as GDP growth or industrial output. - Technical Analysis: Focuses on price charts, identifying patterns, trends, and important levels to anticipate potential market movements. Combining these approaches can offer a broader perspective, helping traders refine their strategies. Taking a Position and Managing Risk Once traders identify potential opportunities, they decide on position size and duration based on their analysis. Risk management is critical to help traders potentially mitigate losses in these volatile markets. Strategies often include: - Diversifying positions to reduce exposure to a single commodity. - Setting limits on position sizes to align with overall portfolio risk. - Monitoring leverage carefully, as it can amplify both potential returns and losses. Risk Factors in Energy Commodities Trading Trading energy commodities like oil and natural gas offer potential opportunities, but it also comes with significant risks due to the market's volatility and global nature. - Price Volatility: Energy markets are highly sensitive to geopolitical events, economic shifts, and supply disruptions. This can lead to rapid price swings, particularly if the event is unexpected. - Leverage Risks: Many instruments, like CFDs and futures, allow traders to use leverage, amplifying both potential returns and losses. Mismanaging leverage can lead to significant setbacks. - Geopolitical Uncertainty: Events like conflicts in oil-producing regions or trade sanctions can disrupt supply chains and sharply impact prices. - Market Sentiment: Energy prices can react strongly to reports like inventory data, OPEC announcements, or unexpected news, creating rapid shifts in sentiment and price direction. - Overexposure: Focusing too heavily on a single energy commodity can magnify losses if the market moves against the position. - Economic Factors: Slowing industrial activity or recession fears can reduce demand for energy, putting downward pressure on prices. The Bottom Line Energy commodities trading offers potential opportunities, driven by global demand and supply. Whether focusing on oil, natural gas, or other energy assets, understanding the fundamentals and risks is key to navigating this complex market. Ready to explore oil and gas commodity trading via CFDs? Open an FXOpen account to access advanced tools, competitive spreads, low commissions, and four trading platforms designed to support your journey. FAQ What Are Energy Commodities? Energy commodities are natural resources used to power industries, homes, and transportation. Key examples include crude oil, natural gas, and coal. These commodities are traded globally as physical assets or through financial instruments like futures and CFDs. Can I Make Money Trading Commodities? Trading commodities offers potential opportunities to take advantage of price movements, but it also involves significant risks. The effectiveness of your trades depends on understanding of market dynamics, analyses of supply and demand, and risk management. While some traders achieve returns, losses are also common, especially in volatile markets like energy. How Do I Start Investing in Energy? Investing in energy typically begins with choosing an instrument like ETFs or stocks, depending on your goals and risk tolerance. Researching market fundamentals, monitoring geopolitical and economic factors, and practising sound risk management are essential steps for new investors. What Is an Energy Trading Platform? An energy trading platform, or power trading platform, is software that enables traders to buy and sell energy commodities. These energy trading solutions provide access to pricing data, charting tools, and news feeds, helping traders analyse markets and execute trades efficiently. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. 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:XNGUSDEducation
by FXOpen
2
WTI CRUDE OIL: Aiming at 82.00 long term.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 48.507, MACD = -0.150, ADX = 34.872) as only today it crossed above the 1D MA50, following a correction since Jan 15th. The prevailing pattern is a Channel Up and we are very close to its bottom. The two bullish waves it had already, peaked after at least a +20% rise. As the 1D RSI is already on the S1 Zone, we anticipate a new bullish wave to start gradually and aim at the top of the Channel Up (TP = 82.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
Weekly price prediction: $71.49 (Min) and $77.37 (Max).Projected Price Range The anticipated weekly price range for Brent Crude Oil is expected to fluctuate between $71.49 (Min) and $77.37 (Max). Contended Price Levels $74.50 – Point of Control (POC) – potential support $73.22 - $71.49 – High Volume Node (HVN) – potential support $77.32 - $81.62 – Low Volume Node (LVN) – potential resistance Technical Analysis Fibonacci Retracement & Price Movement: The price reached the 0.5 Fibonacci retracement level in mid-January before retracing. This level has demonstrated consistent horizontal price movement over the past six months, indicating it as a key reference point. Volume Profile Analysis: High Volume Node (HVN): Found between $73.22 and $71.49, indicating strong liquidity and potential support. Low Volume Node (LVN): Between $77.32 and $81.62, which could lead to rapid price spikes if the price enters this zone. MACD and Stochastic RSI: Stochastic RSI (Bottom Indicator): Has shown low bearish momentum over the last two weeks and appears poised for an upward crossover, signalling potential price growth. MACD (Top Indicator): Remains in the negative region, with a few weeks left before a possible crossover, implying continued caution for bullish sentiment. Additional Factors Support & Resistance Considerations: Point of Control (POC) and HVN are close to the current price, reinforcing these as key support zones. The price is currently resting on a previous resistance level that has now turned into support. The black rectangle above the price highlights the LVN region, where rapid price movements could occur. The white rectangle represents a large support zone, which may contribute to horizontal price movement. Geopolitical & Market Sentiment: As always, geopolitical events could significantly impact price fluctuations, and traders should remain alert to any market-moving developments. Conclusion Brent Crude Oil prices for the upcoming week are likely to remain within the projected range, given the strong support levels in the current price zone. However, any breakout downward could be swift, while an upward breakout could be accelerated due to the LVN region.
OANDA:BCOUSD
by BlackbearTrader