Market Analysis – February 17 USOIL bears have shown stiff resistance after multiple attacks on the significant level at 83.20. The bulls are ascending to strike again. USOIL Key Levels Resistance Levels: 83.20, 89.00, 92.80Support Levels: 70.20, 66.0062.00 USOIL Long-term Trend: Ranging USOil price has failed to soar beyond 83.20. The market has formed higher […]
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 […]
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 […]
Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: BullishUSOIL index is correcting upward as it may reach a high of $84.76. WTI has broken through the 21-day line SMA and is approaching the 50-day line SMA. If the 50-day line SMA is breached, the bullish momentum will extend to a […]
Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: BearishUSOIL is on the decrease as it faces further rejection at $76. The index is currently falling as a result of resistance at the 21-day line SMA. As it decreases, the selling pressure has returned. WTI reversed its bearish trend on November […]
Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: BearishUSOIL is in a downward trend as it risks a decline to $61.40. The index is currently correcting upward to retest the prior high. If the current high is rejected, the decline will resume. The $76 support has been in place since […]
Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: BearishUSOIL is on a downward trend as it may revisit the $76 low. As long as the price is below the moving average lines, further price decrease is probable. On the downside, USOIL will decline to its previous low of $82. The […]
Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: Bullish USOIL is on an upward reversal as it declines to $88 low. The resistance level at $93 is the index’s first price target. Buyers are attempting to reference previous highs. At the $93 and $97 highs in previous ascents, the index […]
Key Resistance Levels: $80.00, $84.00, $88.00Key Support Levels: $66.00,$62.200,$58.00 USOIL (WTI) Long-term Trend: Bullish USOIL reaches bullish exhaustion as it risks a decline to $76. Buyers are attempting to push the index to the previous highs. In previous upward moves, the index was repelled at the $93 and $97 highs. However, WTI is already trading […]
