Usoil:Will it continue to break through?
Yesterday I said that oil has broken through the downward trend, and now it is blocked from falling in the middle of the trend line.
If it continues to fall, we need to observe the support strength of 76-76.3
So you can buy gradually in this range, because the OPEC meeting is still uncertain, if it falls below the range, you need to strictly set the stop loss
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Usoilsignal
Usoil:Fluctuation is too small
On the news side, OPEC+ officially announced that the meeting to be held on November 30th will be changed to an online meeting.Regarding the rumors of discord within OPEC, the representative of Nigeria said that he did not know that there were differences within OPEC+, and he was satisfied with the survey results on Nigeria's production plan. Angola stated that it does not intend to withdraw from OPEC+.
OPEC+ is approaching a compromise with African oil-producing countries on production levels in 2024.There are various signs that a new round of production cuts may be coming.
As can be seen from the chart, oil rose again after falling yesterday, and today it also fluctuated narrowly, indicating that oil is still waiting to choose the direction, but recently it is unwilling to fall.
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Usoil:What exactly is OPEC+ going to do?
I reminded yesterday that oil fell rapidly because of the postponement of the OPEC+ meeting, but the final time was set to be held again on November 30, so oil prices began to rebound yesterday.
As can be seen from the chart, the trend of oil after the rebound is relatively weak, and today it did not break through the point where it started to fall at 77 yesterday.
So today you can still choose to sell below 77. If you break through 77.2, you need to re-observe. As long as you strictly set the stop loss and follow my trading, your success rate will be greatly increased.
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Usoil:Observe the trend line
OPEC+ will hold a meeting this weekend, and WTI oil traders will face significant risks.If more and longer production cuts are announced at the OPEC+ meeting, oil prices may pick up
As can be seen from the chart, oil has been in an upward trend, but it has not broken through the middle edge of the trend line.
So we are still waiting to fall to the support point to buy, strictly set the stop loss, and continue to observe the strength of 78.4 and 79.5 resistance, so that your success rate will be greatly improved
It can be observed that the support of the trend line is near 75.7
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Usoil:Will oil rise today?
Oil was blocked from the middle edge of the trend line yesterday and began to fall
As long as oil breaks through 78.4, there is still a lot of room for growth above, so the resistance of 78.4 is still observed today.
Oil is still on the upward trend for the time being, so you can still choose to buy at the support point
You need to strictly set the stop loss every time you trade, so that even if the trend changes, you can reduce your losses.
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Usoil:The prediction is correct
This is my forecast in the morning. Now that the oil has risen to the middle edge of the trend line, observe the resistance of 78.4.
Judging from the news, the OPEC+ meeting is discussing further production cuts, which may intensify tensions with the United States. At the same time, the market is focusing on whether Saudi Arabia and Russia will extend voluntary production cuts to 2024.Based on the comprehensive assessment of the core member states such as Saudi Arabia and Russia, based on their own interests, they are expected to do their best to maintain the stability of the crude oil market, and there is still some room for short-term prices to rebound.
I also reminded last week that oil is rebounding
From the chart, you can see that the oil has broken through the trend line, and now you need to observe the resistance above.
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Usoil:Where is the bottom?
The EIA report shows that the inventory of Cushing crude oil in the key hub of the United States has increased, rising to the highest level since August last year.In addition, the monthly report of the American Petroleum Institute (API) showed that oil shipments in October increased by 4.6% year-on-year to 31 million barrels per day.Oil supply increased by 3.2% in October to 28.8 million barrels per day.Oil production increased by 6.1% in October to 13.1 million barrels per day, a record high, an increase of 53,000 barrels per day sequentially.U.S. oil companies are taking advantage of high oil prices to sell oil quickly, and they may also smell some less optimistic news in the future.
However, it should be noted that the OPEC+ meeting is about to be held on November 26th. The decline in oil prices has increased the pressure on Saudi Arabia, Russia and other OPEC+ members. They may continue to maintain their production reduction plans and even ask other countries besides Saudi Arabia and Russia to join the reduction team.
Oil is now on a downward trend, because of the rapid decline yesterday, it is now rebounding
From a technical point of view, oil prices have returned to near the low point in early July. If they fall again, it will test the low point of the year, but I think the weekly level of 67-70 is not so easy to be broken.
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USOIL: Summary of the week
The original income this week was more than 10k, after experiencing CPI data, crude oil fell sharply to 72.2, down nearly 500 points, and rose all the way to near 76 on Friday, basically recovering the decline, next week focus on the break near 76!
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USOIL: Trend analysis and operation strategy
EIA released nearly two weeks of inventory data, a cumulative increase of 17.5 million barrels, more than expected accumulation led to a rapid decline in the disk, of which crude oil inventories reached 439 million barrels in the week of November 3, a higher since August. In addition, the market expects Saudi Arabia to extend production cuts until January next year. At present, the accumulation of expectations is deepening, and the upward movement of crude oil prices is blocked. Yesterday, oil prices on the technical side of the weak unilateral downward trend, ASEM slightly back pressure 76.6 line down to break the bottom, the evening accelerated down to 75 and 74 two integer marks, and continued to close weak near the 72 mark, the Japanese line Baoshu pressure down to break the bottom bardo, closed at a low level for three consecutive days. Oil prices fell 4.81% yesterday, closing large negative line, the decline has accelerated signs. From the perspective of technical indicators, the moving average system helped the downward form to be complete, and the superimposed MACD was located below the zero axis for a long time, and the overall form had obvious short advantages. On the operation, it is recommended to consider the rebound and short, low and many are auxiliary.
WTI Crude Oil Handling Recommendations:
Strategy 1: Rebound near 74.5-75.2 short entry, stop loss 0.6 points, target 72.6-72.2 line;
Strategy two: Callback 72.2-72.5 near multiple single entry, stop loss 0.6 points, the target 74.0-75.0 line.
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USOIL: Technical analysis and operational strategy
Us EIA crude oil inventories for the week to November 10 were released yesterday afternoon, showing a rise of 3.6 million barrels to 421.9 million barrels, expectations for a rise of 1.793 million barrels, the previous value of 13.869 million barrels, negative for oil prices. With global demand for crude oil slowing and supply increasing, some analysts believe that Saudi Arabia may extend the voluntary additional production cut of 1 million barrels per day into January or even longer, and the OPEC+ meeting next weekend (November 26) needs to be closely watched. Crude oil yesterday bardo line back. The early week of the rising space back up nearly half, and closed at the low level, the daily line to weaken again, the previous rebound was only a flash in the pan. 4-hour chart a wave of negative line reversion. Continued the previous trading day's high fall, fell below the middle rail to weaken, but also broke the small step shock to rise low, 4-hour chart empty, the rebound at the beginning of the week as a correction to confirm the resistance, but also just confirmed the previous low 79.80 area resistance, with the Asian market close down, Europe and the United States will further see the weak down.
WTI Crude Oil Handling Recommendations:
Strategy 1: Rebound 77.5-77.2 near the short entry, stop loss 0.6 points, the target 75.6-75.2 line;
Strategy two: Callback 75.2-75.6 near multiple single entry, stop loss 0.6 points, the target 77.0-77.5 line.
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usoil: accurate signal
Crude oil's downtrend continues, testing support at $72. Anticipate another decline after reaching around $74. If you have long positions in crude oil, consider closing near $74 and following the trend by shorting. Personally, I expect crude oil to reach $70 in the near term before resuming an upward trend.
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Usoil:Is it back to the downtrend?
Yesterday, oil fell rapidly, broke below the five-day line, and returned to the downward trend again. From the chart, it can be seen that 75-76 has certain support.
We need to observe the support strength of the previous low of 75. If it falls below the previous low, the room for decline will be opened.
So we can short and sell along the resistance point
now you can observe the fluctuations in the range, which is 74.9-77.4
Trading needs to strictly set the stop loss, even if you are in the wrong direction, you will not lose too much.
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Usoil:Repeated shocks
Oil peaked at around 79.8 yesterday. Due to signs that tensions in the Middle East may ease and uncertainty about U.S. crude oil inventories, it fell to near 77.7 yesterday.
As can be seen from the daily line, the price has been supported and stabilized near the lower Bollinger band, and has emerged from a continuous rebound trend. Although the price fell after the increase yesterday, it did not fall below the important support position of 77.5.
So we can still choose to buy in the support range, but you need to strictly set the stop loss to prevent the oil from falling further.
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USOIL: Crude oil analysis and operation
Oil prices rose and fell, and the U.S. CPI data released in the evening showed that the annual rate of CPI reached 3.2%, the lowest since July this year, boosting market risk appetite. After the data was released, the dollar fell sharply, risk assets rebounded, and oil prices quickly pulled up from the intra-day low, but the final oil price did not hold the intra-day rise, and the intra-day rise was completely reversed after midnight from the high level! Yesterday reached the upper 79.70 line high fall, the daily line includes a small Yin line entity, after the oil price even three Yang is Yin, further indicating that the rise has come to an end, the market has entered a new trend. The pullback in oil prices late yesterday changed the previous bullish pattern, so today's trend may be volatile or down, and the probability of continuing to break is low, of course, focusing on EIA data guidance.
WTI Crude Oil Handling Recommendations:
Strategy 1: Rebound 79.5-79.2 near the short entry, stop loss 0.6 points, the target 77.6-77.8 line;
Strategy two: Callback 77.6-77.8 near multiple single entry, stop loss 0.6 points, the target 79.0-79.5 line.
Good trading opportunities within the day Additional tips!
US OilPair : US Oil
Description :
Bearish Channel as an Corrective Pattern in Short Time Frame. Completed " 1234 " Impulsive Wave at Fibonacci Level - 23.80%. Break of Structure and Retracement with Strong Divergence. Bullish Channel in STF with the Breakout of Lower Trend Line
Entry Precautions :
Wait for the Proper Rejection
USOIL: Crude oil opens upward channel
After today's CPI data was released, crude oil rose rapidly, reaching a maximum of 79.77, and then continued to reverse the increase, the current position is 78.3, below the support position of the rising channel, we can be long crude oil in this position!
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Usoil:Have reached the bottom?
As can be seen from the chart, oil has stopped falling, but it is not ruled out that it may go lower again. Today, it did not break through Friday's high of 77.7.
Today, it is necessary to observe whether the oil will fall twice. If the decline does not fall below the support range of 75-76, it can be judged that the oil may have reached the short-term bottom.
If oil breaks through 78, it can be judged that the chance of reaching the bottom is very high, and there is still room for growth this week.
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USOIL: Crude oil continues to fall
Crude oil continued to fall yesterday, from Friday to the present 4 even negative, down nearly 1000 points, yesterday's rebound space is slightly smaller, yesterday's rebound near 77.5 pressure, the European and American trading fell to a new low to 74.9, the daily line is in the bearish down, the day's rebound is the opportunity to empty, bearish not chase empty, rebound card point is the key, at present 4 hours, 77.5 is a strong pressure, short-term hourly chart, the resistance level of the medium rail is currently in the position of 76.1, the day to these two positions to rebound mainly to layout
The specific layout is as follows:
1. See 76.1 empty once for the first time, loss 0.6, the target look at 75 break below
2. See 77.3/77.5 empty at any time within the day, with a loss of 78.1, and the target at 76.1-75 break
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Usoil:Waiting for direction
As can be seen from the chart, oil has now shown signs of stopping falling
If oil does not fall below 74.9 today and rises again, then it can be judged that the probability of rising next week increases. This is the short-term bottom.
If it falls below 74.9, oil may continue to fall and return to the downward trend. Observe the support strength of 73.7, 73, and 72 below.
So you can choose to buy above 74.9 and observe whether you can break through the key point of 77.3.
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Usoil:Observe whether to stop the decline
The oil trend is obvious, and it continues to fall weakly, with the current lowest at 74.9
Although the oil is currently out of the downward channel, it has not confirmed whether it has reached a low point. Continue to observe the support near 73.8-74 below, and wait until the daily line stops falling or there is an upward signal to confirm.
Pay attention to the unilateral moving average suppression points of the daily cycle and the H4 cycle 78 and 76.5. Before this wave has obviously reached the bottom, you can wait for the rebound suppression point to take advantage of the trend to sell.
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