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As the war drew to a close, crude oil plungedInternational crude oil rebounded on short covering, but gains were capped by a strong dollar. WTI crude reversed a V-shape earlier in the session and eventually settled up 0.1% at $67.91 a barrel; Brent crude settled up 0.21% at $71.76 a barrel. Fed-mussallem: 2% inflation Target should not be raised; Don't think the dollar's status is being challenged by currencies; Logan: More rate cuts are likely, but they need to be cautious. Middle East - Israeli officials say Iran has withdrawn its decision to respond to Israeli attacks; Israel is said to be offering President Trump a diplomatic gift for a ceasefire in Lebanon. The latest trend of crude oil -- The crude oil market opened yesterday at $68.02 / BBL, and then the market directly rose, the daily high hit $68.95 / BBL, and then the market quickly fell, the daily low to $66.97 / BBL, and the daily final close at $68.13 / BBL, and the market closed with a long leg cross shape with a lower shadow slightly longer than the upper shadow. And such a form after the end, crude oil in the low shock. Four hours on the level of view, crude oil bears did not change, but the price also down to the bottom line, the market can further break uncertain, but yesterday closed the cross, for today, the following line for defense, continue to try to test the above resistance level. Based on the above analysis, Zhang Yifu believes that: after the bottom of crude oil, the test of the above resistance level, the above does not break it is difficult to change the fate of falling back, today's operation still considers the high-low multi-strategy, the above attention 68.7-69.6 dollars resistance, below attention 67.5-66.5 dollars support.
TVC:USOIL
by Lisainblue
USOIL- Buy, target: 77.50!USOIL- Buy, target: 77.50! WTI Crude Oil is bearish on its 1D technical outlook (RSI = 42.429, MACD = -0.380, ADX = 24.190) but that bearish sentiment is the ideal buy entry as the price hit today the top of the S1 Zone and stayed supported, extending the sideways price action of the last 2 days. The 4H RSI is on HL, which has been the distinct characteristic of all prior 3 bottoms. Being on the 0.236 Fibonacci level, we expect a strong rebound to start even as soon as tomorrow, to test the bottom of the R1 Zone (TP = 77.50).
TVC:USOILLong
by Jamie_Taylor
WTI - Oil waiting for stabilization of regional conditions?!WTI oil is below the EMA200 and EMA50 in the 4H time frame and is moving in its downward channel. If the correction process continues and the resistance range is broken, you can first look for buying positions and then look for oil selling positions in the ceiling of the channel. The Wall Street Journal analysis indicates that Donald Trump, the U.S. President-elect, intends to impose severe sanctions on Iran and restrict its oil sales. This move is part of an aggressive strategy to reduce Tehran’s support for its affiliated groups in the Middle East and to curb its nuclear program. During his first term, Trump withdrew from the Iran nuclear deal (JCPOA) and implemented a “maximum pressure” strategy. This analysis is from The Wall Street Journal. Senior commodity analysts at TDS suggest that risks related to the Middle East are significantly underpriced. TDS analysts point out that the resolution of the current round of Middle East tensions could lead to reduced supply risks in the energy market. In this regard, OPEC’s recent decision to delay additional oil supply has had only a limited impact on increasing supply risk and may not be sufficient in the medium term. According to analyses, if geopolitical stability regarding oil supply continues, there remains a likelihood of price declines. TDS analysts also caution that threats such as the potential intensification of oil sanctions against Iran by President-elect Donald Trump could disrupt regional oil flows severely, as he might return to the “maximum pressure” policy on Tehran. The Israeli Foreign Minister has stated that Israel is prepared to continue the Gaza war until its objectives are fully achieved. Progress has been made in ceasefire talks with Lebanon, though the main challenge will be implementing the agreements. The most critical issue for the region’s future is preventing Iran from obtaining nuclear weapons. An Israeli senior official mentioned, “If Hezbollah does not accept the ceasefire, stronger military and operational plans have been prepared, which could include expanding control over more areas in Lebanon.” Meanwhile, Russia is reportedly considering merging its major oil companies, including Rosneft, Gazprom Neft, and Lukoil, to create the world’s second-largest oil producer after Aramco. This merger could provide greater control over global energy markets and support Russia’s economy amid wartime conditions. However, the proposal faces opposition from some Rosneft and Lukoil executives and challenges in securing financing for Lukoil shareholders. Kremlin officials and company executives have denied knowledge of such a plan, and details of the proposal remain unclear.
TVC:USOILLong
by Ali_PSND
USOIL YEARLY OUTLOOK Will the US post-election continue to impair the oil price? The election of Donald Trump has changed the dynamics of the market, causing oil prices to drop, with more negative pressure anticipated. Global purchasers now pay more for oil due to a rising US dollar, which exacerbates concerns over oversupply. Since recent economic measures have not yet produced immediate stimulus, China's demand outlook remains poor. USOIL formed a weekly and daily Head-and-Shoulder pattern, signaling a continuation of bearish pressures. If USOIL breaks below 68 - 62 necklines(blue and yellow bar), the price may continue its bearish movement to the nearby major support of 43 - 33 On the contrary, if USOIL remains above 68.00, the price may trade within the 68.00-84 range until an apparent breakout occurs.
FX:USOILShort
by Money_Pips
WTI crude Wave Analysis 13 November 2024 - WTI crude oil reversed from the multi-year support level 66.70 - Likely to rise to resistance level 70.00 WTI crude oil recently reversed up from the powerful multi-year support level 66.70 (which has been repeatedly reversing WTI from the end of 2021, as seen from the weekly WTI chart below). The support level 66.70 was strengthened by the nearby lower daily and the weekly Bollinger Bands. Given the strength of the nearby support level 66.70 and the bullish divergence on the weekly Stochastic indicator, WTI crude oil can be expected to rise to the next resistance level 70.00.
FX_IDC:USDWTILong
by FxProGlobal
Crude steadiesCrude prices managed to steady yesterday, having declined sharply since hitting a three-week high last Thursday. Front-month WTI was a touch firmer in early trade this morning as well. But it feels as if this could turn out to be nothing more than a brief pause before prices head downwards once again. The fundamental picture remains unchanged. Supply remains plentiful, and in the absence of a supply shock from either the Middle East or Eastern Europe, that situation is unlikely to change. The Trump election victory should encourage more US production through tax cuts and deregulation. The only question is whether US producers will want to increase output, given that they are already producing at record levels, and that crude prices are low. Meanwhile, demand isn’t keeping up with supply, and this explains why OPEC+ producers have extended their output cuts for an extra month, until the end of December. Chinese demand has fallen further than previously forecast. The world's biggest oil importer recorded a sixth consecutive decline in crude oil arrivals in October, and last week’s much-hyped fiscal stimulus will do little to change that. On Tuesday OPEC released its latest monthly report. It said world oil demand would rise by 1.82 million barrels per day (bpd) in 2024, down from last month’s forecast of 1.93 million bpd. It also reduced its demand growth forecast for 2025 to 1.54 million barrels per day, from 1.64 previously.
TRADENATION:WTI
by TradeNation
Crude Oil Alert: Potential Price Drop if $66.40 Support BreaksTechnical Analysis: Bearish Indicators for Crude Oil On the 4-hour chart, crude oil has formed a Head and Shoulders pattern, a classic reversal signal indicating potential downward movement. The neckline is established at $66.40 per barrel. A decisive break below this level could trigger further declines, potentially leading to a significant drop in oil prices. Fundamental Factors Reinforcing the Bearish Outlook OPEC's Demand Forecast Reduction: OPEC has revised its global oil demand growth forecasts for 2024 and 2025, citing economic weaknesses in China and India. This marks the fourth consecutive downgrade for 2024, with demand now expected to rise by 1.82 million barrels per day (bpd), down from the previous forecast of 1.93 million bpd. Saudi Arabia's Reduced Supply to China: Saudi Arabia plans to decrease its crude oil supply to China in December to approximately 36.5 million barrels, the lowest since July, due to weakened demand from the world's largest importer. Saudi Aramco's Profit Decline: Saudi Aramco reported a drop in third-quarter profit to $27.56 billion from $32.58 billion a year earlier, attributed to lower oil prices and weak refining margins.
TVC:USOIL
by ClearTradingMind
China's economic concerns drove oil prices lower Concerns regarding China's oil demand and the dollar's strength have decisively impacted oil prices, driving USOIL down to its lowest since October 29th. China's inflation data reveals significant weakness, intensifying fears of deflation. Additionally, the Trump administration's pressure on China is expected to exacerbate economic challenges for the nation, raising serious concerns about a potential downturn. After breaking the 70.00 threshold, USOIL retreated to 68.00. Both EMAs widen the gap, indicating a continuous bearish momentum. If USOIL breaks the trendline, which has extended since mid-Sep, the price may fall further to this year's low of 64.50. Conversely, if USOIL breaches the resistance at 70.00, where EMA21 coincides, the price could gain upward momentum toward 73.50.
TVC:USOIL
by inkicho_exness
EDUCATION: Simplified Candlestick Psychology (Part 2)In the world of trading, candlesticks are more than just visual representations of price movements—they're windows into the psychology of the market. Every candlestick tells a story, and if you can learn to read it properly, you can understand the underlying emotions of buyers and sellers. Think of it like reading a book, where every candle is a chapter that contributes to the bigger narrative. In the previous video, we went over the anatomy of a candlestick and this time we dive into the psychology behind the Open, High, Low, and Close (OHLC) values on the chart. This way, you can read the market like you would a good book—predicting what might happen next based on what you've already learned. Anatomy of a Candlestick Before we dig into the psychology, let’s first look at the anatomy of a candlestick. A standard candlestick consists of four key components: the Open, High, Low, and Close (OHLC). These are the foundation for interpreting market sentiment. Open: This is where the price started during that specific time period. Close: This is where the price ended at the close of that period. High: This is the highest point the price reached during that time frame. Low: This is the lowest point the price reached. The body of the candle is the difference between the Open and Close. The wicks (or shadows) represent the range from the Low to the High. The bigger the body, the stronger the move in that direction. The longer the wicks, the more indecision and struggle between buyers and sellers. The Psychology Behind the OHLC Now, let’s break down the psychology behind each component of a candlestick. Every candle is a snapshot of the market’s emotion, so understanding the story behind each piece can help you predict future moves. The Open: The Open represents the first battle of the trading session. It shows where the price starts, and it often sets the tone for the rest of the candle. If the market opens higher than the previous candle’s close, it suggests bullish sentiment, while opening lower indicates a bearish sentiment. But don't just focus on the open; its relationship with the close is just as important. The Close: The Close is where the real battle is won or lost. It’s the final decision of the market—did the buyers or sellers win the battle? A close near the high of the candle suggests strong bullish sentiment, while a close near the low indicates bearish sentiment. A close near the open suggests indecision or equilibrium in the market. Traders often view the close as the most important part of a candlestick because it shows the prevailing market sentiment. The High and Low: These two points tell us about the price extremes during the trading period. A long upper wick suggests that the bulls tried to push the price higher but were met with strong selling pressure. A long lower wick shows that the bears pushed the price lower, but the buyers fought back to reclaim some of the losses. A candle with small wicks indicates that the market didn’t have much fluctuation, and the momentum was steady in one direction. The Body: The body of the candlestick is the most visual part, showing the range between the Open and Close. A large body indicates strong momentum and confidence in one direction. A small body, on the other hand, indicates indecision, where neither side has been able to dominate the market. Putting it All Together Now that we understand the anatomy and psychology behind the OHLC, it’s time to combine the elements and read the story. For example: Bullish Candlestick: If a candlestick has a long body with a close near the high and short wicks, it indicates that buyers were in control, and they finished strong. Bearish Candlestick: Conversely, a candlestick with a long body, close near the low, and short wicks shows that sellers were in control. Indecision: A candle with a small body and long wicks on both sides indicates indecision or a battle between buyers and sellers. The market isn’t sure where it wants to go yet. Candlesticks, when grouped together, create patterns that help us predict future price movements. For instance, a series of bullish candles could indicate strong upward momentum, while a few indecisive candles in a row might suggest a potential reversal or consolidation. Practical Takeaways Watch the Close: The close is your primary indicator of sentiment. A close at or near the high (for bullish candles) or low (for bearish candles) can give you confidence in a trade. Long Wicks Mean Rejection: Wicks can show where the price was rejected, which helps identify areas of support and resistance. Don't Ignore Small Bodies: Small bodies with long wicks are signals of indecision. Don’t be too eager to jump into trades after such candles without further confirmation. Reading candles like a book isn’t just about recognizing patterns—it's about understanding the market's emotions and sentiment. Every candlestick is a snapshot of the battle between buyers and sellers, and by learning to read these battles, you can understand the market's story and predict what might happen next. How do you use candlesticks in your trading? Are there certain patterns or setups that you rely on? Share your thoughts below—I’d love to hear how you read the story in the charts!
FX:USOILEducation
by TLTurnerTV
Crude Oil - LongCrude Oil is trending lower with lower highs and lower lows, though price aggressive bounce backs and retracements indicate a non-trending market. The recent penetration of the 68.00 price level (year to day - low) and retest of the 65.00 level, imply the price is heading lower. However, the price rebounded at the second retest of the level and currently trading at its recent high of 72.00. A further continuation higher is anticipated with the next probable target at 76.00 level where a continuation higher set 78.00 under the scope.
TVC:USOILLong
by Kyriakos_CFTe
USOIL What Next? BUY! My dear subscribers, My technical analysis for USOIL is below: The price is coiling around a solid key level - 70.38 Bias - Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 71.05 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK
TVC:USOILLong
by AnabelSignals
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