Oil prices can still be shorted at around 77 to make a profit.
The overall trend of oil shows the closing stage of the arc top. There are still some opportunities for decline to short the oil price to make a profit.
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Crude Oil Analysis and Trading Signals UpdatesCrude oil technical analysis
Daily resistance 83.4, support below 80.62-79
Four-hour resistance 83.4-82.5, support below 81.2
Crude oil operation suggestions: Crude oil fluctuated and consolidated in a narrow range at a high level last Friday. The overall price continued the recent high-level fluctuation and consolidation rhythm. Today, the upper pressure continues to focus on 82.5-83.4. The intraday rebound continues to short at this position. The lower support focuses on the 82 mark. The short-term crude oil strong dividing line focuses on the 82.5 mark. Before the daily level stabilizes at 83.4, continue to sell at a high price around 83.4.
SELL:80.7near
SELL:82.5near
SELL:83.4near
Technical analysis only provides trading direction!
USOIL ( UNDER BEARISH PRESSURE ) ( 4H )USOIL
HELLO TRADERS
Tendency after the price breakout , indicates the price is under bearish pressure
TURNING LEVEL : there is a purple line around 82.84 , indicates if the price trade below this level reach a support level , but if the breaking turning level reach a resistance level
RESISTANCE LEVEL: there is a green line around 85.25 , indicates selling have already increase this level , when you reach this level buyer have more supply for oil
SUPPORT LEVEL : there is a red line around 79.66 , indicates buying have already increase this level , when you reach this level selling have more demand for oil
PRICE MOVEMNET : the price stabilizing below turning level around 82.84, in my opinion until the price trade below turning level ,indicates selling have more demand for oil , so reach a support level at 79.66, then breaking this level reach a next target at 77.37, if the price breaking turning level , indicates buyer have more supply for oil , so reach 85.25 and 87.41
TARGET LEVEL :
RESISTANCE LEVEL : 85.25 , 87.41
SUPPORT LEVEL : 79.66 , 77.37
USOIL: Trend Analysis and Trading StrategiesCrude oil technical analysis
Daily resistance 83.4, support below 79
Four-hour resistance 81, support below 81.3-80
Crude oil operation suggestions: Last Friday, the overall oil price fell first and then rose, breaking through the 82.7 mark, and then fell back and bottomed out, breaking through the 81 mark and closing weakly.
The overall price showed a fluctuating upward rhythm. Today, the lower support continues to focus on the low point of 81 last Friday, and the upper pressure focuses on the vicinity of 82.5-82.7. If the upper 83.4 is not broken, continue to see the oscillation operation first, and if 83.4 is broken, the bulls will start
SELL:82.0near SL:82.40
SELL:83.4near SL:83.70
Technical analysis only provides trading direction!
USOILOil analysis
Time frame 4 hours and 12 hours
Middle oil oil broke and stabilized its 12-hour trading range. Now it has formed a new 4-hour trading range, the supply and demand areas of which are clear in the picture. The price is expected to return to the limit of $80.7 and move towards the target of $84 by filling the FVG.
USOIL, sell high and buy low to participateTechnical analysis of crude oil
Daily resistance 83.4, support below 79
Four-hour resistance 81, support below 80-78.5
Crude oil operation suggestions: Crude oil 4-hour chart is still shrinking and consolidating, and short-term contraction and shock are waiting to accumulate momentum to open up space. In the short term, there is still an expectation of further downward adjustment. Today's upper resistance focuses on the opening of yesterday's hourly line around 81.3-81.5. The intraday rebound relies on this position to continue to look down with the main short. The short-term support below focuses on 79.7-79.5. The European and American markets stabilize at this position once more and then look at shocks and rebounds. Sell high and buy low (At the same time, beware of the technical changes and there is also a warning of a sharp drop and wash)
SELL:80.7near SL:81.10
SELL:82.0near SL:82.40
SELL:83.4near SL:83.70
Technical analysis only provides trading direction!
Crude Oil Market Analysis and Trading SignalsTechnical analysis of crude oil
Daily resistance 83.4, support below 77.5
Four-hour resistance 82, support below 80.7-79
Crude oil operation suggestions: After a bottom rebound in the daily chart of crude oil, the upward momentum has slowed down. Short-term is accompanied by a second roundabout retracement confirmation. The daily chart uses the middle track as the support point. Go long after the retracement confirmation.
Today's lower support continues to focus on yesterday's hourly neckline support of 80.5. Relying on this position, the main bullish trend remains unchanged. The upper target is still near the daily pressure of 83.4. The short-term bullish strong dividing line focuses on the 80.7 mark. If the daily level stands firm at this position. Continue to follow the trend and do more. Short selling can participate near the daily resistance of 83.4. (At the same time, beware of trend changes, and there is also a warning of a sharp drop in the technical side)
SELL:80.7near SL:81.10
SELL:82.0near SL:82.40
SELL:83.4near SL:83.70
Technical analysis only provides trading direction!
USOIL: Short near 81.and Support 79.5~79.7Crude oil technical analysis
Daily resistance 83.4, support below 77.5
Four-hour resistance 81, support below 80-77.5
Crude oil operation suggestions: Crude oil slightly rose to 81 yesterday, and then fell back and fluctuated sideways under pressure.
The overall price support stabilized above the 80 mark, showing a strong bullish oscillation rhythm. The short-term local decline adjustment will not change the overall bullish strength. At the same time, short-term adjustments will provide better opportunities for long orders to enter the market.
Today's support is around 79.7-79.5. If it falls back to this position during the day, continue to go long. The upper target continues to focus on the new high. The short-term bullish strong dividing line focuses on the 79 mark. If the daily level stabilizes above this position, continue to go long at a low price.
SELL:80.0 near SL:80.40
SELL:81.0 near SL:81.30
SELL:83.4 near SL:83.70
Technical analysis only provides trading direction!
Crude oil is trading in a range, with a focus on 73.8~76.5Technical analysis of crude oil
Daily resistance 78.4, support below 72.7
Four-hour resistance 76, support below 75-73.8
Crude oil operation suggestions: Crude oil fell first and then rose last week. The weekly line is in a wide range of fluctuations, and there is no strong unilateral trend. In the form of repeated tug-of-war between long and short positions, pay attention to the support of the low point of 73.80 this week. If it holds, it will continue to be bullish.
The overall price shows a rhythm of long and short narrow fluctuations. Although the daily level has experienced two consecutive positive fluctuations and rebounded, the overall technical indicators are still in a short position. The upper side is still facing the pressure of the 76.5 mark. Today's rebound relies on the 76.5 line to continue to be short first. The short-term support below focuses on the vicinity of 74.3-74.5. Today, we will rely on this range to maintain the rhythm of fluctuations and sell high and buy low.
SELL:76.0 near SL:76.50
BUY:73.8 near SL:73.40
Technical analysis only provides trading direction!
USOIL FOR LONG TERM INVESTMENT BEST BUYING OPPORTUNITYhi we are monitoring for long term investment usoil its best pair for long term investment
now its showing weekly time frame chart ascanding triangle pattren we have best buying opportunity around 67 for long term investment not for short term long term investors can hold for this buying opportunity for big targets upto 123 to 180 for more updates stay tuned
short updates also available
USOIL - Summer demand expectations are supporting pricesReuters stated that the Fed has raised hobby prices sharply in 2022 and 2023 to minimize growing inflation. Rising borrowing fees for customers and corporations ought to gradual financial boom and decrease oil call for. Meanwhile, a robust dollar ought to hose down oil call for via way of means of making greenback-denominated commodities like oil extra costly for holders of different currencies.
Commenting at the surprising acceleration in oil costs, analysts at strength consulting company Gelber and Associates stated summer time season call for expectancies are helping costs.
Goldman Sachs analysts stated they anticipate Brent oil costs to upward thrust to $86/barrel withinside the 0.33 quarter. In their report, those analysts stated that strong summer time season transportation call for will push the oil marketplace right into a deficit of 1.three million barrels in step with day withinside the 0.33 quarter.
Oil costs rose regardless of the greenback growing to a four-week excessive following a pointy decline withinside the euro.
Last week, oil costs fell for the 0.33 consecutive week because of worries that the Organization of the Petroleum Exporting Countries and its allies` (OPEC+) plan to boost a few manufacturing cuts from October might similarly growth supply.
Investor interest is presently turning to US purchaser charge index records for May to be launched on June 12, searching out suggestions approximately whilst the Fed can also additionally begin decreasing hobby prices. The marketplace is additionally "waiting" for the consequences of the Fed's two-day coverage assembly beginning on June 12 with the expectancy that americaA Central Bank will preserve hobby prices stable.
The marketplace has tempered expectancies for a Fed charge reduce in September following jobs boom records launched ultimate week. According to records from LSEG Financial Company, buyers additionally diminished expectancies approximately the extent of Fed easing this year, with handiest one hobby charge reduce.
Crude oil continues to bearish pressureTechnical analysis of crude oil
Daily resistance 74.2, support below 72.7
Four-hour resistance 73.7-74.2, support below 72-71
Crude oil operation suggestions: Crude oil continued the recent extremely weak short-term unilateral downward rhythm yesterday, with the Asian and European sessions showing a downward trend, and the US session suppressed and fluctuated below the 73.5 mark.
The overall price continued the recent unilateral short-term downward rhythm. Today's upper resistance is around 73.7-74.2. Today's rebound relies on this position to continue the main short-term bearish trend. The short-term oil price short-term weak dividing line focuses on the 74.2 mark. Any rebound before the daily level breaks through and stands on this position is a short-selling opportunity, and keep trading with the trend.
SELL:74.2 near SL:74.50
SELL:73.7 near SL:74.20
Technical analysis only provides trading direction!
World oil prices are in the process of accumulationWorld oil fees extended 2% at the buying and selling consultation on June 6, after the European Central Bank (ECB) determined to reduce hobby fees, elevating hopes that americaA Federal Reserve (Fed) will comparable action.
Meanwhile, ministers from the Organization of the Petroleum Exporting Countries (OPEC) and its allies, called OPEC+, reassured traders that the ultra-modern oil output settlement should alternate relying at the situation. into the marketplace.
At the quit of this consultation, Brent North Sea crude oil charge extended through 1.forty six USD, equal to 1.86%, to 79.87 USD/barrel. The charge of US mild candy oil (WTI) extended through 1.forty eight USD, equal to 2%, to 75.fifty five USD/barrel.
On June 6, the ECB carried out the primary hobby charge reduce on account that 2019, mentioning development in pushing lower back inflation, however caution of inflationary strain withinside the Copper Area. Euro (Eurozone) continues.
Specifically, the ECB diminished hobby fees through 25 foundation points, to 3.75%, after maintaining hobby fees unchanged from October 2023.
Lower gas charges and easing post-pandemic deliver constraints have helped push inflation right all the way down to 2.6% withinside the 20 nations that use the euro, from 10% on the quit of 2022.
Investors are actually much less sure than they had been some weeks in the past that inflation has fallen sufficient for the ECB to adopt a large-scale economic coverage easing cycle. In americaA, economists expect the Fed will reduce hobby fees in September 2024.
The range of Americans submitting preliminary unemployment claims rose closing week and hard work charges rose much less withinside the first area of 2024 than forecast, the Labor Department stated. While this indicates americaA hard work marketplace is cooling, it's miles not going to spark off the Fed to begin slicing hobby fees.
Meanwhile, buying and selling company Trafigura`s leader economist Saad Rahim stated OPEC+'s choice to steadily raise a few manufacturing cuts, blended with sturdy gas supplies, had driven oil fees down. reduced withinside the beyond few sessions.
Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman stated on June 6 that OPEC+ should pause or opposite the growth in manufacturing if it reveals that the marketplace isn't sturdy sufficient./.
Crude oil focuses on the 77.5 important dividing line
Crude oil technical analysis
Daily resistance 77.5, support below 74.4
Four-hour resistance 77.5, support below 76
Crude oil operation suggestions: The overall price of crude oil continues to fluctuate downward above the 78 mark, continuing the recent trend of suppressing short positions. Today, the upper resistance focuses on the starting point of the hourly line decline, 77.5-77.8. During the day, we will continue to rely on this position to continue to be short and follow the trend to fall back. The lower target is still concerned about breaking the bottom. The short-term long and short watershed focuses on the 77.5 line. When you first reach this position, you can try to short with a light position, once.
SELL:78.5 near SL:79.00
SELL:77.5 near SL:78.00
Technical analysis only provides trading direction!
Crude oil under pressure 80.3 return rangeCrude oil technical analysis
Daily resistance 79.2-83.4, support below 77.5
Four-hour resistance 79.2-80, support below 78.5
✅Crude oil operation suggestions: Crude oil fell back after reaching a high yesterday. It failed to continue its strong performance after breaking through 80.0. The small negative line retreated and showed signs of seeking support at a lower level. In a strong market, the price usually falls back on the same day. Yesterday, it fell back and closed at a low level, which made the short-term bulls not strong. It still returned to a volatile trend. Be careful of today's rapid rise to repair the decline.
The overall price continued to fall back after encountering resistance above the 80 mark. The short-term daily level continued the rhythm of long and short wide fluctuations. Today's upper resistance focuses on the opening of yesterday's hourly line near 80.3-80.5, and the lower support focuses on the 78.5 line. During the day, keep selling high and buying low according to this range.
BUY:79.2 near SL:79.00
BUY:78.5 near SL:78.00
The crude oil brokers' quotations are different, only for reference of trading direction
USOIL: Current oil prices are widening their fluctuation rangeUSOIL: Current oil costs are widening their fluctuation range. The short-time period upward fashion because of climate facts in North America and Texas reasons short-time period worries approximately oil output on this region. However, withinside the future, oil costs will nevertheless generally tend to lower and watch for bulletins from OPEC+. We can see that individuals of OPEC+ and Russia have all proven symptoms and symptoms of growing production, so the chance of a lower in oil costs is surprisingly high. Consider promoting across the modern rate range. Target is 76$/1 barrel
USOIL: Short-term oil prices are on the way to recovering to $80USOIL: Short-time period oil fees are at the manner to convalescing to BSE:EIGHTY because the marketplace is presently watching for the subsequent OPEC+ meeting. However, the chance of a lower is fantastically excessive due to the fact OPEC+ nations have nearly all showed the growth in production. This will probably reason oil fees to drop even lower. Consider ready to promote with USOIL around BSE:EIGHTY with the anticipated goal to go back to $75-76
USOIL: Oil prices have turned downUSOIL: Oil fees have became down. In the fast time period, there are symptoms and symptoms of breaking the preceding growing channel. Besides, the fast-time period accumulation region around $77 -seventy nine is likewise displaying a main weak point withinside the context that OPEC+ has finished its discount goal and is making plans to boom production. In the fast-time period destiny scenario, it's far in all likelihood that OIL will drop to deeper charge levels. You can watch to promote with short-time period expectancies of around $75/1 barrel.
OIL can go long in these positions, today’s analysis and strategCrude oil technical analysis
Daily resistance is 79-81, support below is 76.8-75
Four-hour resistance is 79-80, and support below is 78.3-76.8
Crude oil operation advice: Crude oil still fluctuated widely yesterday, with the lowest backtest of 78.2 starting to stabilize, and the highest hitting 79.8. Then it fell sideways, and after reaching near the previous high, it failed to break through directly, and continues to fluctuate upward today.
The overall price has stabilized at the 78 mark and continues to operate in a wide range of long and short shocks. Today, we will continue to focus on the vicinity of 79-79.6. If we break through this position during the day, we will continue to be bullish first. The short-term pressure above will focus on 79.6. Once the daily line firmly holds the 79.6 mark, we can see a big rise.
BUY:78.3near SL:78.00
BUY:79.0near SL:78.70
BUY:79.6near SL:79.30
Technical analysis only provides trading direction!