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Crude Oil At Risk of More LossesCrude oil price is also declining and remains at a risk of more losses below $70.75. Important Takeaways for Oil Prices Analysis Today Crude oil prices are also moving lower below $72.80 and $72.00 levels. There was a break below a major bullish trend line with support near $73.50 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 rise above the $74.60 resistance against the US Dollar. A high was formed near $74.66, and the price moved down. There was a break below a major bullish trend line with support near $73.50. The price declined below the 50-hour simple moving average, and the RSI dropped to 25. A low is formed near $70.97, and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level of the recent decline from the $74.66 swing high to the $70.75 low, above which the price might attempt a recovery. The first major resistance is near the 50% Fib retracement level of the recent decline from the $74.66 swing high to the $70.75 low at $72.80. Any more gains might send the price toward the $73.50 level in the coming days. On the downside, support is near the $70.75 level. The next major support on the WTI crude oil chart is near $70.20. If there is a downside break, the price might decline toward $68.80. Any more losses may perhaps open the doors for a move toward the $66.50 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
1
Crude Oil Price Could Extend LossesCrude oil price is correcting gains and might decline toward the $68.85 support. Important Takeaways for Oil Prices Analysis Today · Crude oil prices are also moving lower below $72.00 and $71.50 levels. · There was a break below a major bullish trend line with support near $73.00 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 recover further above the $74 resistance against the US Dollar. A high was formed near $73.79 and there was a downward move. There was a break below a major bullish trend line with support near $73.00. The price declined below the 50-hour simple moving average at $72 and RSI dropped to 30. It is now showing bearish signs below the 23.6% Fib retracement level of the upward move from the $63.90 swing low to the $73.79 high. On the downside, support is near the 50% Fib retracement level of the upward move from the $63.90 swing low to the $73.79 high at $68.85. The next major support on the WTI crude oil chart is near $67.65. If there is a downside break, the price might decline toward $63.90. Any more losses may perhaps open the doors for a move toward the $60.00 support zone. On the upside, the price could struggle near the 50-hour simple moving average at $72.00. The first major resistance is near the $74.00 zone, above which the price might accelerate higher toward $76.00. Any more gains might send the price toward the $80.00 level in the coming days. 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 |USOIL | DECRYPTERSHi People Welcome To Team Decrypters Previously We Told you A range break out manipulation Move and trend toward Upside will continue It played out Exactly FOR NOW A Decent opportunity To Short USOIL A Main Key Resistance level is Approaching Personal Opinion :- WE THINK OVER ALL OIL is Bullish , But short term retracement is Due For sure SIDE NOTE :- Even if Goes for New lower low profits Already Booked ,Over long term the previous Idea is Still valid (linked attached below)
TVC:USOILShort
by DECRYPTERS
Crude Oil Price Might Correct LowerCrude oil price is declining and remains at a risk of more losses below $70. Important Takeaways for Oil · Crude oil price started a fresh decline below the $70.50 support zone. · There was a break below a rising channel with support near $70.40 on the hourly chart of XTI/USD. Oil Price Technical Analysis Crude oil price also started a fresh decline from the $71.65 resistance zone against the US Dollar. The price declined below the $71.20 level to move into a short-term bearish zone. The price even settled below the $70.50 level and the 50 hourly simple moving average. There was also a break below a rising channel with support near $70.40 on the hourly chart of XTI/USD. The price is now trading below the 23.6% Fib retracement level of the upward move from the $64.35 swing low to $71.66 high. Oil Price Hourly Chart On the downside, an immediate support is near the $66.80 level. The next major support is near the $68.00 level. It is near the 50% Fib retracement level of the upward move from the $64.35 swing low to $71.66 high. If there is a downside break, the price might decline towards $67.00. Any more losses may perhaps open the doors for a move towards the $65.00 support zone. On the upside, an immediate resistance is seen near the $70.00 level and the 50 hourly simple moving average. The first major resistance is near the $70.50 level. The next major resistance is near the $71.50 zone, above which the price might accelerate higher towards $72.20 or even $73.00. Any more gains might send the price towards the $74.20 level in th coming sessions. Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
FXOPEN:XTIUSD
by FXOpen
Crude Oil Price Declines Further Crude oil price is declining and remains at a risk of more losses below $75. Important Takeaways for Oil · Crude oil price started a fresh decline below the $80 support zone. · There is a major bearish trend line forming with resistance near $76.65 on the hourly chart of XTI/USD. Oil Price Technical Analysis Crude oil price also started a fresh decline from the $81 resistance zone against the US Dollar. The price declined below the $78 level to move into a bearish zone. The price even settled below the $76.50 level and the 50 hourly simple moving average. A low was formed near $75.18 and the price is now consolidating losses. On the upside, an immediate resistance is seen near the $75.85 level. Oil price Hourly Chart The 23.6% Fib retracement level of the downward move from the $78.12 swing high to $75.18 low is also near the $75.85 level. The first major resistance is near the $76.65 level and the 50 hourly simple moving average. There is also a major bearish trend line forming with resistance near $76.65 on the hourly chart of XTI/USD. The trend line is near the 50% Fib retracement level of the downward move from the $78.12 swing high to $75.18 low. The next major resistance is near the $78 zone, above which the price might accelerate higher towards $80.00 or even $82.00. On the downside, an immediate support is near the $75.20 level. The next major support is near the $74.50 level. If there is a downside break, the price might decline towards $73.65. Any more losses may perhaps open the doors for a move towards the $72.00 support zone. Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
FXOPEN:XTIUSD
by FXOpen
Crude Oil Price Could Recover SteadilyCrude oil price is attempting a recovery wave above the $75.50 resistance zone. Important Takeaways for Gold and Oil · Crude oil price started a fresh increase from the $73.75 support zone. · There was a break above a major bearish trend line with resistance near $75.70 on the hourly chart of XTI/USD. Oil Price Technical Analysis Crude oil price also started a fresh decline from the $80 resistance zone against the US Dollar. The price declined below the $75 level before the bulls appeared near the $73.75 zone. A low was formed near $73.75 and the price started a decent increase. It was able to clear the $74.00 and $75.00 resistance levels. Oil Price Hourly Chart Besides, there was a break above a major bearish trend line with resistance near $75.70 on the hourly chart of XTI/USD. The price even gained pace above the $75.50 level and the 50 hourly simple moving average. It settled above the 50% Fib retracement level of the downward move from the $77.63 swing high to $73.75 low. On the upside, the price might face resistance near $76.20. It is near the 61.8% Fib retracement level of the downward move from the $77.63 swing high to $73.75 low. The first major resistance is near the $77.80 level, above which the price might accelerate higher towards $80.00 or even $82.00. On the downside, an immediate support is near the $75.50 level. The next major support is near the $74.50 level. If there is a downside break, the price might decline towards $73.75. Any more losses may perhaps open the doors for a move towards the $72.00 support zone. Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
FXOPEN:XTIUSD
by FXOpen
USOIL 13th FEBRUARY 2023Oil prices fell below US$81 after surging more than 8 percent last week. Although Moscow will reduce supply by half a million barrels per day by March 2023 due to tightening flows, investors remain wary that the Federal Reserve needs to continue pushing interest rates higher to tame inflation. The Fed's push has weighed on the appetite for riskier assets including commodities. Global crude oil prices weakened on concerns about a global slowdown, offsetting sentiment of Russia's plan to curb supply in retaliation for Western sanctions.
TVC:USOILShort
by DNP-FX
3
Oil Price Could Correct GainsCrude oil price is facing a strong resistance near the $79 zone and might correct lower. Important Takeaways for Oil · Crude oil price started a fresh increase from the $72.50 support zone. · There is a connecting trend line forming with resistance near $79.10 on the hourly chart of XTI/USD. Oil Price Technical Analysis Crude oil price also started a fresh increase from the $72.50 support zone against the US Dollar. The price was able to clear the $74.00 and $75.00 resistance levels. The price even gained pace above the $76.50 level and the 50 hourly simple moving average. Finally, the bears appeared near the $78.90 zone. A high is formed near $78.93 and the price is now correcting gains. Oil price Hourly Chart It traded below the 23.6% Fib retracement level of the upward move from the $72.50 swing low to $78.93 high. The price is now trading below $78 and the 50 hourly simple moving average. On the upside, the price might face resistance near $78. The first major resistance is near the $78.80 level. The main resistance sits near the $79.00 level. There is also a connecting trend line forming with resistance near $79.10 on the hourly chart of XTI/USD, above which the price might accelerate higher towards $82.00 or even $84.00. On the downside, an immediate support is near the $76.50 level. The next major support is near the $75.75 level. It is near the 50% Fib retracement level of the upward move from the $72.50 swing low to $78.93 high. If there is a downside break, the price might decline towards $73.50. Any more losses may perhaps open the doors for a move towards the $72.50 support zone. Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
FXOPEN:XTIUSD
by FXOpen
USOIL 1st FEBRUARY 2023USOIL is expected to be sideways within the ascending triangle area. The price has a possibility to reach the resistance area of the 8th touch. Breakout or rebound scenarios can occur at the touch point of the trendline, but if the price turns out to be a breakout from the support/resistance area. a big trend will likely occur. The existence of horizontal support and resistance is difficult to observe, but it is quite valid with the help of the stochastic 5 3 3 indicator where the area often rebounds.
TVC:USOIL
by DNP-FX
3
Brent Crude Oil price takes a bashing overnighDuring the past two years, oil, along with many other raw material commodities which are used to produce energy products, has been very volatile. Perhaps given the nature of its supply, which is largely in the hands of the OPEC+ countries whose national economies depend on the export of oil around the world, the 'oil cartel' has a lot of bargaining power over its consumers, hence in times of economic strife or geopolitical instability, oil prices have always been ones to watch. First of all there was supply chain and logistical curtailment due to lockdowns across many Western countries, which led to the increase in the price of oil during 2020 and 2021, and then the sanctioning of the settlement accounts of Russian oil companies by European governments which led to any oil bought having to be settled in Rubles in bank accounts in Moscow, leading to rapidly accelerating ruble prices and oil supply constraints for European customers. Therefore, oil prices have been high for 2 years, however this morning during the Asian trading session, Brent Crude Oil (WTI) took a dive in value and by 8.45am UK time, it was languishing at $76.92 per barrel, a steep drop over yesterday's values and a very noticeable drop compared to this time last week when the value was $82.27 per barrel on January 23, its highest value this month. During the past 30 days, Brent Crude Oil has been very volatile in its values, having begun the month at a low point of $73.08 on January 4, before accelerating past the $80 mark by mid January, then retracting again before heading back to the high of over $82 last week, and now it is back down to the mid-$70s again. Despite the overall rollercoaster ride of volatility this month, Brent Crude Oil is down overall by 4.3% during the past 30 days. This has been an interesting period for commodities traders, and whilst in many Western markets, gasoline prices are now far lower than they were six months ago, the price of crude oil continues to fluctuate considerably. In some cases, vehicle fuel prices at the pumps on the retail market have decreased by over 50p (British) or 50c (Euro) per liter in six months. For example, in July 2022, motorists in the United Kingdom were paying approximately £1.99 per liter, now unleaded fuel is readily available at around £1.50 per liter, and in France, in July 2022 unleaded fuel was retailing at an extremely high 2.20 Euros per liter, whereas during January 2023 it has been selling at anywhere between 1.70 and 1.87 Euros per liter. Volatility is the the lifeblood of trading, so says the old adage, and the oil price this month has certainly been on point in this respect. Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
FXOPEN:XTIUSD
by FXOpen
XTIUSD...SELL (5% Drawdown)The price of oil per barrel will definitely soar high but I see a chance of sell opportunity before its long momentum, currently looking at a clear sell chance for at least $4 price reduction per barrel of oil. XTIUSD is currently trading in my supply zone....so i expect more sells to jump into this market. NB: All eyes on the breakout zone (blue box region) to accelerate or decelerate rice movements. Red box ( rejection zone) might or will serve as a chance for another entry for sell or a push up to soar price movements high.
XShort
by DAdepa