Market Analysis – December 15th USOil (WTI) bulls strive for a reversal as the oil market shows a bullish one. The oil market is wrapping up the week with a bullish tone as the bulls attempt to stage an uprising. However, they have been struggling to break through the significant level of 72.510. Despite the […]
US Oil Analysis – Price Remains in a Consolidation Phase US Oil makes gain in the phase of consolidation. The Oil market has been in a period of consolidation since November 2022. A sharp sell-off sent prices from the 92.650 key zone down to the 74.480 key zone. Following that sell-off, the US Oil market […]
US Oil Analysis – Market Consolidates as Sellers Eye Back at the 67.270 Market Level US Oil remains stable above the 68.270 key zone. The prices have been steady, hovering around an old low zone for a while. Since the start of May, the market has remained in a state of consolidation, with prices bouncing […]
Market Analysis 26 The US Oil market direction turned bearish in April after a shift in the market structure. The market crash delivered the price to the demand level of 74.000. A retracement back to the bearish order block has been established for shorting opportunities. US Oil Significant Zones Demand Zones: 68.80, 66.00, 62.00Supply Zones: […]
Market Analysis – February 24 USOil market is currently ranging. A symmetrical triangle is forming on the daily chart. A breakout is anticipated to define the market’s next move. USOil Key Levels Demand Levels: 70.20, 66.00, 62.00Supply Levels: 83.20, 89.00, 92.80 USOil Long-term Trend: Ranging USOil bulls have made multiple attempts to initiate a bullish […]
Market Analysis – February 10 USOil experienced a significant rise in price the previous year. Just before 2022 opened, a double bottom shape was displayed at 66.00, which revealed the course the following year was to follow. The market took off to the moon without any resistance. The buying pressure was so strong that there […]
The Canadian Dollar (CAD) did not particularly perform well last week relative to its major rivals, with losses against the US dollar (USD), the euro (EUR), and the pound sterling (GBP). Poor economic data that pointed to a slowdown in the economy as well as the early drop in oil prices pushed down the CAD. […]
In anticipation of three OFZ treasury bond auctions by the finance ministry on Wednesday, the Russian ruble (RUB) gained momentum as the market anticipated details on an oil export price cap. Ruble On a Roll The ruble was trading at 62.37 against the euro (EUR) and was 0.3% stronger against the US dollar (USD) at […]
