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 […]
Market Analysis – May 12 The crude Oil market has offered a sell-side delivery of the bullish swing, which originated from the demand level of 66.000 to the supply zone of 83.370. The market price is currently on a free fall, aiming to sweep the previous low of 64.000. US Oil Key Levels Demand Levels: […]
Market Analysis – March 31st US Oil broke the supporting trendline on the 13th of March. The Bearish displacement delivered from 81.130 to 66.00. The market is currently experiencing a retracement after the impulsive move. US Oil Key Levels: Demand Levels: 73.20, 66.00, 62.00Supply Levels: 81.10, 89.00, 92.80 Oil Long-Term Trend: Bearish The tussle over […]
Crude Oil has experienced a bearish breakout from a pennant on the daily chart. The market has retested the lower border after bouncing off the 66.00 support level. Crude Oil Key Levels Demand Levels: 70.20, 66.00, 62.00Supply Levels:83.20, 89.00, 92.80 Crude Oil Long-Term Trend: Bearish Crude Oil formed a giant double-top pattern from September to […]
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 […]
