Market Update: Retest and Bullish Continuation Expected The price has already reached the resistance zone at 77.95, as noted in our previous analysis. Now, the price is expected to retest the 76.55 level before resuming its bullish trend towards 79.49. Bullish Scenario: For the bullish trend to continue, the price should stabilize above 77.94, targeting 79.49,...
Market performance Freight rates rose in March and calmed down in May. In June, freight rates from the Middle East to China fell by 0.5 yuan month-on-month. July was also sluggish. At the same time, the gross profit margin of refining fell by 10-30% year-on-year, affecting the enthusiasm of refineries to purchase crude oil. Market risk analysis The US election...
usoil buy81.2-81.4 tp82-82.3 sl80.5
Crude oil trading analysis The oil market was mixed and volatile last week. The Red Sea shipping crisis has drawn attention, while an increase in demand forecasts from the International Energy Agency has also caused market volatility. Although WTI crude oil futures fell slightly, the overall trend showed a weekly increase of more than 3.88%. International...
In the short term, the oscillation pattern of crude oil and fuel oil futures may continue On March 12, crude oil varieties fell as a whole yesterday, especially fuel oil futures fell significantly. 1. The weakening of macro factors has hedged the benefits of OPEC+'s extension of production cuts. The weakening of oil prices has led to the decline in the support...
According to the current trend of crude oil, the price of crude oil is basically fluctuating at 77-78 US dollars. At this stage, the crude oil price reached 78.6 and was unable to break through due to resistance, and then fell again. As far as the current trend is concerned, the crude oil price is oscillating at 78 US dollars. Please pay attention to my signals...
Crude oil trend analysis, easily make money for you The overall trend of crude oil rose and fell back last week. The expected strength did not appear, but the upward trend has not changed. As long as crude oil price does not fall below 77 US dollars per barrel, the oil price will still rebound, and the weekly negative closing means that there will definitely be...
Although OPEC+, an organization of oil-producing countries, has extended production cuts, the market remains wary of crude oil demand. Oil prices closed down more than 1% on Friday, with Brent crude oil falling by 1.69% this week and WTI crude oil falling by 2.46% this week. Brent crude oil futures closed down $0.91, or 1.10%, to $82.05 per barrel. This week’s...
Crude oil prices fell back from highs and will bottom out and rebound From yesterday to today, the overall trend of crude oil fell back after rising, with $80.5 as the resistance level and $77.6 as the support level. The U.S. Department of Energy announced the purchase of approximately 3 million barrels of oil for delivery in September to replenish the...
Today's crude oil trading analysis Yesterday, crude oil continued to fluctuate upwards, and the second time it tested high, it looked around 80.7, but it has not yet formed a breakthrough. The recovery range in late trading was within 80.0, and the daily closing line had an upper shadow line, which is still in the stage of shock and rise. At this stage, it is...
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
🚨 Crude Oil #WTI 🗓️ Date: 12 February, 2024 ⏰ Timeframe: Daily 💡 Given in the chart – ♦️ Green (long term support) = 67.50 ♦️ Red (resistance) = 78.85 The price has been in the range (red color) on the chart since December last year. Price touched this range several times but failed to deliver a breakout. As long as this range remains active, the potential...
Pair : US Oil Description : Bullish Channel as an Corrective Pattern in Short Time Frame and Rejection from Upper Trend Line. Completed " ABC " Corrective Waves and " 12 " Impulsive Waves and making its " 3rd " Impulsive Wave. Break of Structure and Completed the Retracement
Hello friends, I'm Luke, a former champion trader in multiple regions. I'm excited to join TradingView and share my strategies with you every day, hoping to provide assistance. Crude oil has established a bottom around $70, and those who bought in heavily near this level have already reaped substantial profits. Personally, I anticipate oil to stabilize around $80...
Pair : US Oil Description : Bearish Channel as an Corrective Pattern in Long Time Frame with the Breakout of the Upper Trend Line. Completed " 12345 " Impulsive and Making its Correction. EXP FIAT in Short Time Frame and Rejection from Upper Trend Line. Divergence and BOS
Yesterday, the conflict in the Red Sea region of the US market escalated, and a cruise ship incident occurred, so gold and crude oil rose sharply. However, the biggest impact of this incident was on energy, and the impact on gold was limited, So, crude oil breaks through the technical suppression of the 4H mid-track and continues the upward trend. On the weekly...
Crude oil (USOIL): Crude oil opened at 73.3 today. It was volatile in the morning and the market was running slowly. Yesterday’s crude oil was long and short in shock, and the range also had an amplitude of 20 US dollars. However, the overall trend was still suppressed by the pressure from above and could not break through. The bulls were not to be outdone. ,...
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. I provide daily analysis and strategies for gold and...