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XTIUSD( US OIL ) LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
TVC:USOILLong
by ForexPlanet20
XTIUSD( US OIL ) LONG term Trade AnalysisNov 9 Hello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
TVC:USOILLong
by ForexPlanet20
The Price of WTI Oil Forming a Reversal PatternIn our analysis of the price of WTI oil dated November 8, we wrote that the price could recover to the level of USD 80 per barrel. After the price failed to reach the round level of USD 80 by only 36 cents (the median line of the descending channel prevented this from happening) on November 14, the bears again seized the initiative. The result of their pressure was a reduction in the price to a new autumn low on November 14 at the level of USD 73 per barrel, after which the price recovered again to the median line. A new attempt by the bears to push the price down from the median line occurred on November 22, but note how quickly the price of oil recovered after falling below USD 75 per barrel. This is evidence of bull aggression and the strength of demand. At the same time, the price forms an inverted head-and-shoulders reversal pattern, as a result of which a bullish breakdown of the current descending channel may occur, although if this event occurs, it is unlikely in the near future, since first the bulls need to overcome the resistance from the median line. Also, the bulls will have psychological resistance at USD 80 and, possibly, the SMA (100), directed downwards. Market participants are focusing on the OPEC+ meeting, which was postponed to November 30. It is reported that some members of the bloc of oil-producing countries are dissatisfied with the current policy of cutting production, as attempts to maintain world oil prices by reducing market supply do not allow them to achieve budgetary goals. It is possible that by the end of the month we will see spikes in volatility against the backdrop of news related to OPEC+. 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:XTIUSD
by FXOpen
XTIUSD( US OIL ) LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
TVC:USOILLong
by ForexPlanet20
6
XTIUSD( US OIL ) LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
TVC:USOILLong
by ForexPlanet20
Oil Prices Fall to Lowest Level since JulyAs the chart shows, the price of WTI oil has dropped below USD 77.50 – the last time prices were this high was in mid-July. The decline in oil prices was contributed to by: → first, easing concerns about the escalation of the military conflict in the Middle East and interruptions in the supply of oil produced in the region; → secondly, the data from Beijing. While China's crude oil imports rose in volume and value in October, the country's total exports fell 6.4% year on year, more than expected, CNBC reports. This points to a slowdown in demand in a world where central banks in many countries are keeping interest rates high to combat inflation. Thus, supply forces prevail despite the fact that Russia and Saudi Arabia announced continued restrictions on oil production amid the conflict in the Middle East. The oil price chart today shows that: → the market is oversold, judging by the RSI indicator; → the price is near the lower border of the downward channel. Therefore, the market is vulnerable to some price recovery from the oversold zone. If this happens, the price will form a false breakout of the August lows and could then test the USD 80.00 level. It is possible that this psychological level, which provided support on November 1-3 after yesterday's bearish breakout, will act as resistance — similar to what happened with the USD 82.50 level. 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:XTIUSD
by FXOpen
Crude Oil Price Takes HitCrude oil price struggled and declined below the $85.75 support. Important Takeaways for Oil Prices Analysis Today · Crude oil prices failed to clear the $89.50 region and started a fresh decline. · There is a connecting bearish trend line forming with resistance near $83.70 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to clear the $89.50 resistance zone against the US Dollar. The price started a fresh decline below the $87.80 support. There was a steady decline below the $85.75 support and the 50-hour simple moving average. Finally, the price declined below the $82.80 support before the bulls appeared. A low is formed near $81.90 and the price is now recovering above the 50-hour simple moving average. It is now consolidating above the 23.6% Fib retracement level of the downward move from the $89.61 swing high to the $81.86 low, and the RSI moved above 50. If there is a fresh increase, it could face resistance near $83.70 and a connecting trend line. The first major resistance is near the 50% Fib retracement level of the downward move from the $89.61 swing high to the $81.86 low at $85.75. Any more gains might send the price toward the $87.80 level. Conversely, the price might continue to move down and revisit the $82.80 support. The next major support on the WTI crude oil chart is $81.90. If there is a downside break, the price might decline toward $80.00. Any more losses may perhaps open the doors for a move toward the $78.50 support zone. 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:XTIUSD
by FXOpen
XTIUSD ( US OIL ) LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
FXOPEN:XTIUSDLong
by ForexPlanet20
WTI Oil Analysis: Price Falls 10% in Less Than a WeekIn our article “Oil Analysis: Finally, A Bearish Reversal?” on September 21, we drew attention to emerging signs that the initiative was shifting to the bears. This was noticeable in the changes in the dynamics of impulses and corrections, as well as in the analysis of the interaction between trading volumes and prices. Since then, the bulls were able to update the high of the year on September 28, but the price did not stay there for long, falling sharply in the following days. Three bearish candles formed on the chart, which confirmed the problems of the bulls, and the double top pattern (A-B) also became relevant. Another principle of technical analysis that emphasized the dominance of supply over demand is that each upward move was approximately 2 times weaker than the downward move. This can be seen in the consistent structure characteristic of a bearish trend: → the C→D move is approximately 50% of the B→C bearish momentum; → the rebound from the median line of the ascending channel E→F is approximately 50% of the bearish impulse D→E; → the bounce from the (now former) support line 87.50 G→H is approximately 50% of the bearish momentum F→G. Yesterday, the US Energy Information Administration (EIA) reported that supplies of finished motor gasoline, reflecting demand, fell to about 8 million barrels per day, the lowest since the beginning of this year. The news contributed to the formation of a new bearish impulse, which broke through the ascending channel (shown in blue). It is possible that another I→J rollback will follow. If so, then the formation of top J may be facilitated by resistance from the level of 87.50, the lower border of the ascending channel and the 50% Fibo level. 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:XTIUSD
by FXOpen
Crude Oil Price DipsCrude oil price is now correcting gains and trading below the $92.00 support. Important Takeaways for Oil Prices Analysis Today · Crude oil prices are now correcting lower below the $92.00 zone. · There was a break below a key bullish trend line with support near $92.50 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to continue higher above $94.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $92.50. There was a steady decline below the $91.50 pivot level. The bears even pushed the price below $91.20 and the 50-hour simple moving average. There was also a break below a key bullish trend line with support near $92.50. Finally, it tested the 50% Fib retracement level of the upward move from the $87.71 swing low to the $93.93 high. Immediate support is near the $90.50 level. The next major support on the WTI crude oil chart is near $89.20 or the 76.4% Fib retracement level of the upward move from the $87.71 swing low to the $93.93 high. If there is a downside break, the price might decline toward $89.20. Any more losses may perhaps open the doors for a move toward the $87.80 support zone. On the upside, immediate resistance is near the 50-hour simple moving average at $92.00. The next key resistance is near $92.40. If the price climbs further higher, it could face resistance near $93.20. Any more gains might send the price toward the $94.00 level. 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:XTIUSD
by FXOpen
XTIUSD( US OIL )LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
FXOPEN:XTIUSDLong
by ForexPlanet20
Oil Price Stabilizes Near Year's Highs Last week, the Russian Federation and Saudi Arabia confirmed plans to reduce production by the end of the year, which contributed to an increase in oil prices. At the beginning of this week, the WTI price stabilized in the range of 85.50 - 87.50. Will the upward trend continue, which will benefit oil producers? Bullish arguments: → The price is within the ascending channels, both short-term (built on the 1h and 4h charts) and long-term (built on the daily chart). → A series of rising lows is forming on the chart, indicating that demand is active. → Technically, the market may be supported by the level of 85.50, which previously served as resistance. → Oil supplies may be disrupted due to various storms. For example, in eastern Libya, 4 ports were closed due to flooding and a storm, which killed about 2,000 people. Bearish arguments: → News about economic slowdown in various regions (China, Europe) should weaken demand. → On September 11, the price of oil renewed its multi-month high, but retreated very quickly. The behavior was similar to a bull trap — a sign of a weak market that could be a harbinger of downward momentum. → High oil prices are unprofitable for governments of countries (including the United States) struggling with high inflation. Tomorrow, at 11:00 GMT+3, the publication of a monthly report on oil prices from the International Energy Agency is scheduled, which could greatly affect the current exchange rate and disrupt the consolidation triangle that is currently in effect. On Tuesday morning, the price is within the triangle formed from the median line of the ascending channel (shown in blue) and the level of 87.50. A breakout of this triangle can occur in both directions. 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:XTIUSD
by FXOpen
XTIUSD( US OIL )LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
FXOPEN:XTIUSDLong
by ForexPlanet20
The Price of Oil Sets Maximum of the YearYesterday, the price of WTI oil rose above USD 85.50 per barrel. This has not happened since November 2022. On August 24, we wrote that the price of oil could find support for growth from the lower border of the rising channel, as well as from the level of USD 78.50. Since then, the price of WTI oil has risen by more than 9%. Fundamentally this contributed to: → the policy of limiting production by OPEC+ countries; → expectations that the Chinese economy will recover thanks to the incentives of the authorities. According to Trafigura, a large company trading mainly in metals and energy resources, investment in the development of the oil industry is not enough, and a price of up to USD 88 can be considered fair in the current circumstances. Bullish arguments: → the price of oil has not yet reached the upper limit of the rising channel, leaving the potential for updating the highs of the year; → the level at 81.50, which worked as a resistance, can now provide support; → support can also be provided by the median line of the uplink. Bearish arguments: → rising oil prices are unfavorable for large economies, including the United States, which are struggling with high inflation. We can expect steps from governments aimed at lowering prices; → after 2 weeks of rapid growth (and especially on August 31 and September 1), a pullback would be a logical development for a market that is “overheated”. The RSI indicator indicates overbought. 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:XTIUSD
by FXOpen
Crude Oil Price Turn GreenCrude oil price is rising and it could climb further higher toward the $85 resistance. Important Takeaways for Oil Prices Analysis Today · Crude oil prices are also moving higher above the $82.00 resistance zone. · There is a connecting bullish trend line forming with support near $82.80 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price started a decent increase against the US Dollar. The price gained bullish momentum after it broke the $80.65 resistance as mentioned in the previous analysis. There was a sustained upward move above the $82.00 and $82.50 resistance levels. The bulls pushed the price toward $83.50. The current price action is positive above the 50-hour simple moving average and RSI is well above 60. If the price climbs further higher, it could face resistance near $83.80. The first major resistance is near the $84.20 level. Any more gains might send the price toward the $85.00 level. Conversely, the price might correct gains and test the 23.6% Fib retracement level of the upward move from the $80.65 swing low to the $83.44 high at $82.80. There is also a connecting bullish trend line forming with support near $82.80. The next major support on the WTI crude oil chart is near the 50% Fib retracement level of the upward move from the $80.65 swing low to the $83.44 high at $82.00. If there is a downside break, the price might decline toward $80.65. Any more losses may perhaps open the doors for a move toward the $78.65 support zone. 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:XTIUSD
by FXOpen
XTIUSD ( US OIL ) LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
FXOPEN:XTIUSDLong
by ForexPlanet20
Crude Oil Price Signal Negative Trend Crude oil price is also declining and showing bearish signs below $80.00. Important Takeaways for Oil Prices Analysis Today · Crude oil prices are also moving lower below the $80.00 resistance zone. · There is a key bearish trend line forming with resistance near $80.00 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to continue higher above $84.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $83.00. There was a steady decline below the $81.45 pivot level. The bears even pushed the price below $80.00 and the 50-hour simple moving average. Finally, it tested the $78.60 zone. A low is formed near $78.58 and the price is now attempting a recovery wave. There was a move above the 50-hour simple moving average. However, the price is struggling near the 23.6% Fib retracement level of the downward move from the $84.30 swing high to the $78.58 low. There is also a key bearish trend line forming with resistance near $80.00. If the price climbs further higher, it could face resistance near the 50% Fib retracement level of the downward move from the $84.30 swing high to the $78.58 low at $81.45. Any more gains might send the price toward the $82.50 level. Conversely, the price might start another decline and retest the 50-hour simple moving average. The next major support on the WTI crude oil chart is near $78.60. If there is a downside break, the price might decline toward $77.50. Any more losses may perhaps open the doors for a move toward the $76.20 support zone. 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:XTIUSD
by FXOpen
Crude Oil: Long-Term OutlookCrude oil price is rising and it could climb further higher toward $85. Important Takeaways for Oil Prices Analysis Today Crude oil prices are moving higher above the $76.75 resistance zone. There was a break above a key contracting triangle with resistance near $71.00 on the daily chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the daily chart of WTI Crude Oil at FXOpen, the price started a decent increase against the US Dollar. The price gained bullish momentum after it broke the $71.00 resistance. Besides, there was a break above a key contracting triangle with resistance near $71.00. The price climbed above the $75.00 pivot level as mentioned in the previous analysis. Finally, the bulls pushed the price above the 61.8% Fib retracement level of the downward move from the $84.53 swing high to the $63.90 low. The price is now trading above the 50-day simple moving average, and the 76.4% Fib retracement level of the downward move from the $84.53 swing high to the $63.90 low. It seems like the bulls are aiming for a test of $83.70. If the price climbs further higher, it could face resistance near $85.00. Any more gains might send the price toward the $88.00 level. Conversely, the price might correct gains and test the $76.75 support. The first major support is near the 50-hour simple moving average or $73.80. The next major support on the WTI crude oil chart is near $71.00. If there is a downside break, the price might decline toward $67.15. Any more losses may perhaps open the doors for a move toward the $65.00 support zone. 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:XTIUSD
by FXOpen
USOIL/ XTIUSD SHORT/SELL🔰 Pair Name : XTIUSD 🔰 Time Frame : 4hrs/ Daily 🔰 Scale Type : Long Scale 🔰 Direction : Short/ Sell As a professional trader, I would like to highlight the key resistance levels for WTI crude oil. The primary resistance areas are located at $80.00, within the daily supply zone, and at $77.30, represented by the 200-day moving average (MA). Conversely, crucial support levels can be identified at $75.00 and $72.50, which form the weekly market imbalance area below. Upon analyzing the daily chart, it is evident that the bulls are currently testing the 200-day moving average in conjunction with the channel resistance, specifically around the $77.2 price area. This particular resistance has proven significant since August 2022. Additionally, the Relative Strength Index (RSI) is approaching overbought levels, signalling a potential pullback, akin to the price action observed in early April. Consequently, traders should closely monitor the psychological handle of $75.00 as a pivotal level from a bearish perspective. Meanwhile, bullish traders will be eager to witness a confirmation close above the critical resistance zone, as this could signal a potential move towards the $80.00 level. In conclusion, as professional traders, it is essential to attentively observe these price levels and market indicators to make well-informed trading decisions, capitalise on potential opportunities, and exercise caution in the face of potential risks.
FX:USOILShort
by Moon_SmartMoney
3
OIl Short In this short analysis, we will examine the recent price movement of oil within the range of $78.5 to $79 with a focus on the potential for a price reversal. We will explore key technical indicators, market sentiment, and other factors that suggest a possible shift in the oil's direction. Price Movement Overview: The oil market has seen a recent uptrend as the price climbed from $78.5 to $79. However, the current price range indicates a potential turning point, suggesting the possibility of a price reversal. Technical Indicators: Resistance Level: The $79 price level has acted as a significant resistance point in the recent past. Repeated failures to break above this level could signal a lack of bullish momentum and an increased probability of a reversal. Overbought Conditions: If the price surge from $78.5 to $79 has been rapid and significant, technical indicators like the Relative Strength Index (RSI) or Stochastic Oscillator might signal overbought conditions. An overbought market often precedes a reversal as traders take profits, leading to a downward price correction. Market Sentiment: Market sentiment plays a crucial role in price reversals. As traders and investors become wary of the extended rally and potential resistance at $79, profit-taking and cautious approaches might be observed, adding selling pressure to the market. Fundamental Factors: Demand-Supply Balance: An analysis of the supply-demand dynamics could reveal potential imbalances in the oil market. If the demand outlook weakens or if there are signs of oversupply, it could influence traders' expectations for a price reversal. Global Economic Indicators: The health of the global economy can impact oil prices. Any negative economic data or uncertainties could lead investors to reevaluate their positions, potentially triggering a reversal. Caution for Traders and Investors: For traders seeking a potential reversal, closely monitoring key technical levels and trendlines will be essential. Confirmation of a reversal signal through technical indicators and candlestick patterns can provide a stronger basis for making trading decisions. Conclusion: The oil price movement from $78.5 to $79 indicates the potential for a reversal as the market approaches a critical resistance level and may experience profit-taking and cautious sentiment. However, traders should be cautious and use additional technical and fundamental analyses to confirm a reversal before making trading decisions.
TVC:USOILShort
by realtrademaster
USOIL/ XTIUSD WHERE TO BUY🔰 Pair Name : XTIUSD 🔰 Time Frame : 4hrs/ Daily 🔰 Scale Type : Long Scale 🔰 Direction : Long/ BUY In recent times, the market has witnessed a significant development: the emergence of a Daily Bullish Pin Bar on Friday. However, it is worth noting that this particular bullish pin bar displayed signs of failure in terms of price action. This prompts us to contemplate the future trajectory of USOIL. Is this indicative of a conclusion to its upward momentum, or does it present a favorable buying opportunity? From a technical standpoint, we find ourselves at a critical juncture as we have reached the monthly and weekly demand zone, with the price currently residing within a 1-hour demand zone. Based on this analysis, our expectations lean towards a potential upward movement at this juncture, as we anticipate the price to initiate a recovery phase for the summer season. Nonetheless, it is crucial to exercise prudence and further evaluate market indicators and trends before reaching a definitive conclusion. As professional traders, we recognize the significance of thorough analysis and the need to consider multiple factors that can influence market dynamics. Therefore, I encourage you all to exercise due diligence, closely monitor market conditions, and make well-informed decisions based on a comprehensive assessment of the available data. May we navigate these market waters with precision and astuteness as we embark on this summer's trading endeavors.
TVC:USOILLong
by Moon_SmartMoney
2