Market Analysis – April 28 US Oil gapped above the previous high in anticipation of a retest to resume the bearish trend. The market has corrected to fill the gap. The price action is currently being observed to determine if Crude Oil will resume its bearish trend. US Oil Key Levels Demand Levels: 66.000, 62.000, […]
Market Analysis – April 14 US Oil experienced a bearish breakout below the demand level of 73.20. The anticipated retest of the demand level was dashed as the market suddenly gapped above 81.130. Oil Key Levels Demand Levels: 73.200, 66.000, 62.00Supply Levels: 81.130, 89.000, 92.800 Oil Long-Term Trend: Bullish Oil was stuck between the resistance […]
USOil Analysis – April 9 USOil Flips Bullish As Price Invalidates $81.00 Previous High. Since the emergence of the downtrend in March 2022, the market has been typically bearish. However, the bulls seem to be in control of the market now as the previous high of $81.00 gets invalidated. USOil Significant Zones Demand Zones: $72.50, […]
USOil Analysis – March 10 USOil remains structured for a breakout. The market rose strongly by the middle of 2022. However, after the price reached 121.500, the buyers were not able to keep up with the intensity. This made the market vulnerable to the sellers, who took full advantage. Therefore, the price nosedived continually for […]
US30 Analysis – March 3 USOil is Orchestrating its market to recover from a bearish blow. All the progress made by the market since early 2022 has been undone after the price failed to quickly establish itself above the 121.500 key level on the first trial in March 2022. A second trial in June 2022 […]
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 USOil price action seems focused on moving higher over the last four trading sessions. And interestingly, price action in this market has been on a progressive upward path. Will this form continue? Let’s check it out. Major Price Levels: Top Levels: $79.00, $80.00, $81.00 Floor Levels: $78.18, $77.00, $76.00 USOil Appears Ready to […]
USOil has been trading within a sideways price channel formed by the Fibonacci levels of 78.60 (resistance) and 100 (support) since mid-November 2022. And at this point, price action in the USOil market is now trying to retrace the resistance of this channel. Let’s zoom in to get a better view of things in this […]
Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: BullishThe USOIL index is correcting upward as it challenges the resistance at $80. WTI has surpassed the 21-day line SMA and is closing in on the 50-day line SMA. If the 50-day simple moving average (SMA) is broken, the bullish momentum will […]
