Title: WTI Crude Oil 2H – Bearish Rejection Setup with Downside The updated chart maintains the bearish channel structure, with price continuing to respect lower highs and lower lows.
Current Price: $66.413
Bearish Outlook Maintained:
Price has recently tested the mid-range of the descending channel.
A minor bullish retracement is anticipated into the green
About US Crude Oil spot
Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times. Two major benchmarks for pricing crude oil are the United States' WTI (West Texas Intermediate) and United Kingdom's Brent. The differences between WTI and Brent include not only price but oil type as well, with WTI producing crude oil with a different density and sulfur content. The demand for crude oil is dependent on global economic conditions as well as market speculation. Crude oil prices are commonly measured in USD. Although there have been discussions of replacing the USD with another trade currency for crude oil, no definitive actions have been taken.
Hellena | Oil (4H): SHORT to support area of 63.000.Colleagues, I believe that wave “B” has formed at the level of 69.938, and now we expect the downward movement to continue with the aim of completing wave ‘C’ of the middle order and wave “2” of the higher order in the support area of 63,000.
It is quite possible that the price could reach the 60,0
WTI OIL Extreme 1D MA50-200 squeeze to deliver break-out!WTI Oil (USOIL) has been consolidating for almost the past 30 days within the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). The squeeze is now so tight that the trend will be revealed soon with a break-out.
Based on the 2-year Channel Down, that should be bearish, resembling the May 2
Oil Prices Form Bearish Head & Shoulders – Key Neckline in FocusWTI crude oil is showing a clear Head and Shoulders (H&S) pattern, which is a strong bearish reversal signal. The left shoulder formed in early July, followed by a higher peak forming the head in mid-July, and finally the right shoulder near the current levels, which is lower than the head. The neck
LONG ON USOIL OIL has just completed a sweep of sell side liquidity, leaving behind lots of BUY side liquidity.
DXY is falling on top of economic news stating trump will possibly fire Jerome Powell.
All this with OPEC increase oil production.
I expect oil to make a $5-$10 move throughout the rest of the wee
Market Analysis: Oil Prices Ease – Market Awaits Fresh CatalystMarket Analysis: Oil Prices Ease – Market Awaits Fresh Catalyst
WTI crude oil is also down and remains at risk of more losses below $64.60.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI crude oil price continued to decline below the $66.00 support zone.
- It traded below a
WTI crude: $65 floor holds again as bulls test 50-day MAAfter nine failures to break and close beneath $65 per barrel over the past month, you have to wonder how much longer bears will persist in attempting to take out the level. Following a nice pop higher on Thursday, completing a morning star pattern and closing above the 50-day moving average, it may
USOIL Long From Support! Buy!
Hello,Traders!
USOIL made a retest of
The horizontal support
Level of 64.86$ from where
We are already seeing a bullish
Reaction so we will be expecting
A further local move up
Buy!
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Displays a symbol's price movements over previous years to identify recurring trends.