USOIL (WTI) May Decline as It Reaches the Overbought Region AtLevel 74.21

USOIL (WTI) May Decline as It Reaches the Overbought Region AtLevel 74.21

Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00

USOIL (WTI) Long-term Trend: Bearish
USOIL is correcting upward. It has reached a high of $74.21. Also reached bullish exhaustion. WTI crude oil is expected to fall. Meanwhile, on July 8 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that USOIL will fall to level 2.618 Fibonacci extension or level $60.90.

Daily Chart Indicators Reading:
USOIL (WTI) is at level 56 of the Relative Strength Index period 14. It indicates that WTI is in the uptrend zone and above the centerline 50. The 21-day and 50-day SMA are sloping upward indicating the uptrend. The price bars are above the SMAs which suggests that the market will rise.

USOIL – Daily Chart

USOIL (WTI) Medium-term bias: Bearish
On the 4 hour chart, the WTI price is correcting upward. The upward correction is facing resistance at level 74.00 as the market declines. WTI price is expected to fall as it has been trading in the overbought region since July 21. Meanwhile, on July 8 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that USOIL will fall to level 2.618 Fibonacci extension or level $60.90.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
USOIL is above the 80% range of the daily stochastic. USOIL has reached the overbought region of the market. WTI price is likely to fall as sellers emerge in the overbought region of the market. The 21-day and 50-day SMAs are sloping upward.

General Outlook for USOIL (WTI)
USOIL (WTI) price has ended upward correction as the market resumes downward. The market has reached the overbought region. There is a likelihood of prices resuming a downward movement. According to the Fibonacci tool, USOIL will fall to level 2.618 Fibonacci extension or level $60.90.

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USOIL (WTI) In Upward Correction, May Face Rejection at Level $72.00

USOIL (WTI) In Upward Correction, May Face Rejection at Level $72.00

Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00

USOIL (WTI) Long-term Trend: Bearish
USOIL is in a downward move. WTI is correcting upward as price falls to the low of $65. The upward correction has reached the high of $72. However, USOIL is still trading in the overbought region of the market. It implies that selling pressure will resume in the overbought region. Meanwhile, on July 8 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that USOIL will fall to level 2.618 Fibonacci extension or level $61.60.

USOIL – Daily Chart

Daily Chart Indicators Reading:
USOIL (WTI) is at level 51 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The moving averages are sloping upward indicating the uptrend. The price bars are below the SMAs which suggests that the market will fall.

USOIL (WTI) Medium-term bias: Bullish
On the 4 hour chart, the WTI price is correcting upward. However, USOIL has been trading in the overbought region for the past four days. There is a tendency of the market falling in the overbought region. Meanwhile, on July 8 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that USOIL will fall to level 2.618 Fibonacci extension or level $61.60.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
WTI price is above the 80% range of the daily stochastic. USOIL has reached the overbought region of the market. WTI price is likely to fall as sellers emerge in the overbought region of the market. The 21-day and 50-day SMAs are sloping upward.

General Outlook for USOIL (WTI)
USOIL (WTI) price is correcting upward. The market is likely to decline as it is in the overbought region/. According to the Fibonacci tool, USOIL will fall to level 2.618 Fibonacci extension or level $61.60.

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USOIL (WTI) Reaches Oversold Region as Sellers Threaten to Short

USOIL (WTI) Reaches Oversold Region as Sellers Threaten to Short

Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00

USOIL (WTI) Long-term Trend: Bearish
USOIL has resumed its downward move after rejection from the $77 high. WTI faces another rejection at $75 after price is corrected to the recent high. The implication is that the downtrend will continue on the downside. Meanwhile, on July 7 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that USOIL will fall to level 2.618 Fibonacci extension or level $61.02.

USOIL – Daily Chart

Daily Chart Indicators Reading:
USOIL (WTI) is at level 46 of the Relative Strength Index period 14. It indicates that USOIL is in the downtrend zone below the centerline 50. The moving averages are sloping upward indicating the uptrend. The price bars are below the SMAs which suggests that the market will fall.

USOIL (WTI) Medium-term bias: Bullish
On the 4 hour chart, the WTI price is in a downward move. The downtrend was created after rejection from the high of $75. Meanwhile, on July 6 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that USOIL will fall to level 1.618 Fibonacci extension or level $70.44.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
WTI price is below the 20% range of the daily stochastic. USOIL has reached the oversold region of the market. The 21-day and 50-day SMAs are sloping downward indicating the downtrend. Buyers will emerge in the oversold region to push prices up.

General Outlook for USOIL (WTI)
USOIL (WTI) is in a downward move. The price bars are below the 21-day and 50-day SMAs which suggest further downsides. According to the Fibonacci tool, USOIL will fall to level 2.618 Fibonacci extension or level $61.02.


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USOIL (WTI) Rises to the Overbought Region, May Reverse at Level $77.39

USOIL (WTI) Rises to the Overbought Region, May Reverse at Level $77.39

Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00

USOIL (WTI) Long-term Trend: Bullish
USOIL is in an uptrend as it reached the high of $76.95. The market is declining after rejection from the recent high. Meanwhile, on July 6 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that USOIL will rise but reverse at level 1.272 Fibonacci extension or level $81.28.

USOIL – Daiy Chart

Daily Chart Indicators Reading:
USOIL (WTI) is at level 60 of the Relative Strength Index period 14. It indicates that USOIL is in the uptrend and above the centerline 50. The moving averages are sloping upward indicating the uptrend. The price bars are still above the SMAs which suggests that the market will rise.

USOIL (WTI) Medium-term bias: Bullish
On the 4 hour chart, the WTI price is in an uptrend. The market has reached the high of level $77 and was repelled. WTI price plunged to $71.20 and resumed a fresh uptrend. Meanwhile, on July 1 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that USOIL will rise to level 1.272 Fibonacci extension or level $77.39.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
WTI price is above the 80% range of the daily stochastic. USOIL has reached the overbought region of the market. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. Sellers will emerge in the overbought region to push prices down.

General Outlook for USOIL (WTI)
USOIL (WTI) is in an uptrend. WTI’s upward move is doubtful as the market reaches the overbought region. According to the Fibonacci tool, USOIL will rise to level 1.272 Fibonacci extension or level $77.39.



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USOIL (WTI) Surges Ahead, Battles the Resistance at $76.00

USOIL (WTI) Surges Ahead, Battles the Resistance at $76.00

Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00

USOIL (WTI) Long-term Trend: Bullish
USOIL is in an uptrend. WTI has risen to an overbought region of the market. The RSI indicated an overbought region of the market as USOIL rises to $75.10. The implication is that the upward rally is likely to subside on the upside.

USOIL – Daily Chart

Daily Chart Indicators Reading:
USOIL (WTI) is at level 72 of the Relative Strength Index period 14. It indicates that USOIL has reached the overbought region of the market. Sellers will emerge at the overbought region to push prices down. The moving averages are sloping upward indicating the uptrend. The price bars are still above the SMAs which suggests that the market will rise.

USOIL (WTI) Medium-term bias: Bullish
On the 4 hour chart, the WTI price is in an upward move. The market has earlier reached the high of $76 and pulled back. The WTI price pulled back to resume consolidation above $75 support. Meanwhile, on July 1 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that USOIL will rise to level 1.618 Fibonacci extension or level 78.14.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
WTI price is below the 80% range of the daily stochastic. The market is in a bearish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. Later, sellers will emerge in the overbought region to push prices down.

General Outlook for USOIL (WTI)
USOIL (WTI) is in an uptrend. Recently, the market pulled back because WTI reached the overbought region of the market. USOIL will resume an upward move if it finds support above level $75.00


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USOIL (WTI) Surges Ahead, Set for More Upside Momentum

USOIL (WTI) Surges Ahead, Set for More Upside Momentum

Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00

USOIL (WTI) Long-term Trend: Bullish
USOIL has been rising consistently. The initial resistance at level 72.00 has been breached as price resumed an upward move. WTI is likely to face resistance in its upward move. The price indicator has signaled that the market has reached the overbought region. The bullish momentum is likely to subside.

USOIL – Daily Chart

Daily Chart Indicators Reading:
USOIL (WTI) is at level 74 of the Relative Strength Index period 14. It indicates that USOIL has reached the overbought region above level 70. WTI will have not enough room to rally on the upside. The moving averages are sloping upward indicating the uptrend. The WTI price is still above the SMAs which suggests that the market will rise.

USOIL (WTI) Medium-term bias: Bullish
On the 4 hour chart, the WTI price is in an upward move. The price is making a series of higher highs and higher lows. Meanwhile, on June 21 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that USOIL will rise to level 2.0 Fibonacci extension or level 76.94.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
WTI price is above the 80% range of the daily stochastic. The market is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. Later, sellers will emerge in the overbought region.

General Outlook for USOIL (WTI)
USOIL (WTI) is in an uptrend. The uptrend has reached the overbought region. Therefore the bullish momentum is likely to subside. According to the Fibonacci tool, the market will reach level 76.94.


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USOIL (WTI) Declines, Unable to Sustain above Level 73.00

USOIL (WTI) Declines, Unable to Sustain above Level 73.00

Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00

USOIL (WTI) Long-term Trend: Bullish
USOIL is falling. The upward move reached the high of level 72.96 and was resisted. The WTI retraced to level 70 and found support above it. There are bullish signals above the current support indicating a possible uptrend. The market is currently consolidating above level 70.00 for a possible upward move.

USOIL – Daily Chart

Daily Chart Indicators Reading:
USOIL (WTI) is at level 66 of the Relative Strength Index period 14. It indicates that USOIL is in an uptrend zone. It is approaching the overbought region of the market. The moving averages are sloping upward indicating the uptrend. The WTI price is still above the SMAs which suggests that the market will rise.

USOIL (WTI) Medium-term bias: Bearish
On the 4 hour chart, the WTI price is in a downward move. WTI is falling as price faces rejection at level 72.10. Meanwhile, on June 16 downtrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that USOIL will fall to level 2.0 Fibonacci extension or level 69.71.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
WTI price is sloping below the 80% range of the daily stochastic. The market is a bearish momentum. The 21-day and 50-day SMAs are sloping upward indicating the previous uptrend.

General Outlook for USOIL (WTI)
USOIL (WTI) is in a downtrend. The upward move is facing rejection as crude oil resumes a downward move. According to the Fibonacci tool, the market will decline to level 69.71.



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USOIL (WTI) Surges Ahead as Bulls Gain More Grounds

USOIL (WTI) Surges Ahead as Bulls Gain More Grounds

Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00

USOIL (WTI) Long-term Trend: Bullish
USOIL is in an uptrend. The upward move has reached the high of level 71.21. According to the RSI, the WTI has reached the overbought region of the market. The upward move is doubtful as sellers are likely to emerge to push prices down.

USOIL – Daily Chart

Daily Chart Indicators Reading:
USOIL (WTI) is at level 69 of the Relative Strength Index period 14. It indicates that USOIL is in an uptrend and has reached the overbought region of the market. The moving averages are sloping upward indicating the uptrend. The WTI price is above the SMAs which suggests that the market will rise.

USOIL (WTI) Medium-term bias: Bullish
On the 4 hour chart, the WTI price is in an uptrend. The price bars are above the moving averages which suggests that the market will be on the rise. Since May, the USOIL price is making a series of higher highs and higher lows.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
WTI price is sloping below and above the 80% range of the daily stochastic. The market is rising and in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for USOIL (WTI)
USOIL (WTI) is in an uptrend. The crude oil has reached the high of $71.21 but the market has reached the overbought region. The uptrend will continue as long as it is above the 21-day and 50-day SMAs.

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Gold (XAUUSD) Faces Rejection at $1,900 as Selling Pressure Resumes

Gold (XAUUSD) Faces Rejection at $1,900 as Selling Pressure Resumes

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Bullish
XAUUSD is in an uptrend. Presently, the upward move is facing resistance at $1,900. Since June 3, the uptrend was repelled as the market declined to $1,860. Gold is now fluctuating between the current support and the resistance. The uptrend will continue if the current support holds.

XAUUSD – Daily Chart

Daily Chart Indicators Reading:
XAUUSD is at level 53 of the Relative Strength Index period 14. It indicates that Gold is in the uptrend zone and above the centerline 50. Gold has room to rally on the upside. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend. Gold has broken below the 21-day SMA. A break below the support line of the ascending channel will mean a further downward movement of prices.

Gold (XAUUSD) Medium-term bias: Ranging
On the 4 hour chart, the XAUUSD price is in a sideways move. The uptrend is facing rejection at a high of $1,910. Buyers are now struggling to break above the minor resistance at $1,900.

XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
Gold is below the 80% range of the daily stochastic. It is in a bearish momentum. . The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend.

General Outlook for Gold (XAUUSD)
XAUUSD’s price is in a downward move because of the resistance at $1,910. The selling pressure will continue as price breaks below the moving averages.



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USOIL (WTI) Retraces as Bulls and Bears Contemplate Next Move

USOIL (WTI) Retraces as Bulls and Bears Contemplate Next Move

Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00

USOIL (WTI) Long-term Trend: Bullish
USOIL is in an uptrend. The WTI has risen to $69.32. The crude oil is facing resistance at the recent high. Meanwhile, on April 20 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that WTI will rise to level 2.0 Fibonacci extension or level $70.71.

USOIL – Daily Chart

Daily Chart Indicators Reading:
USOIL (WTI) is at level 66 of the Relative Strength Index period 14. It indicates that USOIL is in an uptrend and above the centerline 50. The moving averages are sloping upward indicating the uptrend. The WTI price is above the SMAs which suggests that the market will rise.

USOIL (WTI) Medium-term bias: Bullish
On the 4 hour chart, the WTI price is in an uptrend. The upward move is facing resistance at level $70. Meanwhile, on June 1 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that WTI will rise to level 2.0 Fibonacci extension or level $71.34.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
WTI price is below the 80% range of the daily stochastic. The market is rising and in a bullish momentum which is contrary to the stochastic indicator. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for USOIL (WTI)
USOIL (WTI) is in an uptrend. The crude oil has reached the high of $70 but faces resistance. The price is retracing from the recent high. The uptrend will resume if it finds support above 21-day and 50-day SMAs.


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