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Rising global interest rates are expected to take their toll on the world economy in 2023. This is expected to keep a lid on crude oil prices, its products and natural gas. The drop in demand is expected to drive up inventories, which may be enough to offset any attempts by Russia to cut output. Meanwhile, China’s oil demand restrictions, which were eased in...

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we see a WXY format for wave structure and we are in X leg to be completed . for fundamental view :Russian oil exports and the risk of global recession will be key drivers of oil prices in 2023. While logistical issues may temporarily impact Russian exports, China’s growing demand for oil is expected to provide support to markets in the second half of the...

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The main trend is down according to the daily swing chart. However, momentum is trending higher. A trade through $81.21 will change the main trend to up. A move through $70.56 will reaffirm the downtrend. The minor trend is up. This is controlling the momentum. A trade through $76.94 will change the minor trend to down. The main range is $89.89 to $70.56. Its...

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U.S. West Texas Intermediate and international-benchmark Brent Crude oil futures dipped lower on Wednesday as concerns over a surge in COVID-19 cases in China, the world’s biggest oil importer, offset the chances easing pandemic restrictions in the country will boost fuel demand. Although the market weakened from a three-week high hit earlier in the week, there is...

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The index has gone back and forth during the course of the week, showing signs of hesitation in both directions but as we head into the holidays, it makes a lot of sense that we would see hesitation. harmonic patterns along with ichimikou signs for further decrease is seen on the chart and fibo levels

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Gold futures are edging higher at the mid-session on Friday but remain in a position to post their biggest weekly loss since mid-November. Helping to keep a lid on gains and drive prices lower was the hawkish tone delivered by several central banks as they signaled that more rate hikes are needed to curb inflationary pressures. The survey’s flash manufacturing PMI...

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Trader reaction to the long-term 50% level at $72.31 is likely to determine the direction of the January WTI crude oil market on Friday. Bullish Scenario A sustained move over $72.31 will indicate the presence of buyers. This could lead to a test of the minor top at $75.44. Taking out this level will change the minor trend to up and could trigger an acceleration...

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The Euro is trading flat against the U.S. Dollar on Friday after yesterday’s volatile trading session led to a steep loss. On Thursday, the European Central Bank (ECB) eased the pace of its interest rate hikes but stressed significant tightening remained ahead and laid out plans to drain cash from the financial system. A trade through the June 9 main top at 1.0774...

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U.S. West Texas Intermediate crude oil futures finished lower on Wednesday after the U.S. government reported a bigger-than-expected increase in fuel stocks. The move was just the cherry on the top of a sell-off driven by concerns over weakened worldwide growth, partly due to high energy costs.

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we are seeing a harmonic pattern here and RSI on 4H is overbought and also divergent on lower time frames .we are waiting for this pull back before going upward continuation toward 1840$. please see big picture as below

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we may see fifth wave to downside or upside move depending on 83$ break. The good news for crude oil bulls is coming out of China. The potential for increased demand is there, but the country needs to do more to curb restrictions before it will show up in the economic data. Some analysts suggest some curbs will last until March. So demand may bottom, but we may...

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oil went beyond 90$ and invalidated bearish scenario .90$ is the last lower high which broke upward and turn oil bullish .OPEC decision was ridiculous in term of affecting market since the production cut is less than 1mbpd as real number or less than 1% of total world capacity so this small portion cut will not the real factor behind this new bull run...

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China relaxing COVID restrictions and OPEC+ announcing additional cuts to output would be game changing moves and could be a major turning point for prices. The OPEC+ decision would be particularly bullish since it would give traders the confidence to buy dips aggressively in the market on the notion that OPEC+ has their backs. Later today at 21:30 GMT, the...

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on the chart some harmonic patterns along with wolfe wave and RSI divergence are seen but please wait for price return into channel to execute trade first target is 1.012 and then second one is 0.9864 In economic news, domestically, Euro Zone economic sentiment rebounded in November slightly more than expected, data showed on Tuesday, rising for the first time...

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Some harmonic patterns are seen all indicating on weekly time frame bearish move .this would suggest somehow for bullish usoil .pls share your idea about this probable scenario

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China relaxing COVID restrictions and OPEC+ announcing additional cuts to output would be game changing moves and could be a major turning point for prices. The OPEC+ decision would be particularly bullish since it would give traders the confidence to buy dips aggressively in the market on the notion that OPEC+ has their backs. Later today at 21:30 GMT, the...

MtICHI Updated 

we see harmonic patterns along with wolfe wave structure and rsi divergence all indicating bullish move but we are waiting for price stable above 83 $ within ww channel then will go long for the target of 95$ Alternatively if price can not break 83$ then price going down toward 65$ Pls leave comments or likes if you think this analysis is useful

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Currently, there is a strategy that is followed by most investment banks around the world, and that is known as Stop Hunting. It attempts to force some market participants out of their positions by driving an asset’s price to a level where many retail traders set their stop-loss orders. The triggering of many stop losses at once generally leads to high volatility,...