Market Analysis – August 1 USOil price surged by 4.53% on July 31. This significant single-day rise occurred within a broader bearish trend, driven by the price hitting a bullish supporting trend line as the Stochastic indicator signaled the market was oversold. USOil Key Levels Demand levels: 72.40, 69.10, 64.80Supply Levels: 80.30, 87.50, 94.50 USOil […]
Market Analysis – July 29 The USOil current bearish trend is driven by a retest of the resistance trendline of the large symmetrical triangle on the daily chart. The previously strong upward trend reversed sharply as sellers entered the market upon reaching the resistance border. The price is now dipping towards the supporting border of […]
Woodside Energy Group, Australia’s leading oil and gas producer, has announced a significant step in its expansion strategy by acquiring U.S.-based Tellurian for approximately $1.2 billion. This acquisition includes Tellurian’s fully permitted and advanced-stage Driftwood LNG export project near Lake Charles, Louisiana.Under the terms of the deal, Woodside will pay an all-cash price of $900 […]
Market Analysis: July 22 USOIL price has experienced a bearish shift in market structure, characterized by the price falling below a major swing low on the daily chart. This shift in market structure appears to be driven by a ‘three falling peaks’ pattern noticeable on both higher and lower timeframes. USOIL Key Levels Demand Levels: […]
Market Analysis – July 15 US Oil price action has shown sensitivity to the bearish trendline, evidenced by a repel witnessed after testing a bearish and prominent trendline. The strong bearish trend is threatened as the trendline plays a resistance role to the ascent of the US Oil price. US Oil Key Levels Demand Levels: […]
Market Analysis – July 5 USOil (WTI) price, in recent market movements, has shown a consistent upward trajectory, reaching a significant resistance trendline on the daily chart. This trendline, established by connecting two major highs, serves as a critical point for predicting potential price reversals. The steady ascent in the price reflects strong buying interest, […]
Market Analysis – July 1 The USOil market direction turned bearish following the formation of a head and shoulders reversal pattern in April. After a significant price decline of approximately 15%, buyers have regained control, supported by the critical demand level at 72.40. USOil Key Levels Demand Levels: 76.90, 72.40, 69.10Supply Levels: 87.50, 94.50, 95.00 […]
Market Analysis – June 21 US Oil price is set to experience a major pullback as it hits a supply zone. The technical indicators on the daily chart of USOil suggest bullish momentum. The price is trading above the 9-day simple moving average (SMA), which is around 79, indicating a short-term uptrend. On the other […]
Oil prices climbed about 3% to a one-week high on Monday, driven by hopes of rising summer fuel demand despite a stronger U.S. dollar and expectations that the U.S. Federal Reserve will maintain higher interest rates. The Fed raised rates aggressively in 2022 and 2023 to control inflation, increasing borrowing costs for consumers and businesses, […]
