XTIUSD price analysis

[fxoday]

Hello everyone, Wednesday, I hope all FPA members are always happy and full of prosperity

Today's market, yesterday's oil price rose from a low of 72.15 to a high of 74.45 and formed a bullish candle, but was still in the previous price range.

News related to oil, from Oilprice, Oil markets are finally focusing on geopolitical risk, with disruptions in the Red Sea. Shipping stocks have been on the rise since the Houthi threat in the Red Sea began to escalate, with the likes of Moller-Maersk, ZIM and Hapag-Lloyd adding some 15-20% over the past three trading sessions.

XTIUSD technical analysis

Oil price is now at 74.09 based on XTIUSD chart FXOpen in Tradingview. Yesterday oil prices rose and formed a bullish candle with small shadows on the top and bottom of the candle.

In the daily timeframe, oil prices are currently moving above the middle band line and trying to reach the upper band line. Bollinger bands form a flat channel, an indication that prices may move in a range, and MA 50 forms a descending channel, an indication of a downtrend. And RSI 51 means the price is above the uptrend level.

In the H1 timeframe, oil prices started to rise from 72.82 and penetrated the upper band line. The Bollinger band expands, indicating increasing market volatility, and RSI 62 means the price is above the uptrend level.

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

 

[fxoday]

Hello everyone, have a nice day, I hope everyone is healthy and happy today

Today the price of oil is at 73.62, down after reaching a high of 75.99. The price forms a bearish candle with the shadow on the top candle forming a hammer which is technically a reversal candle.

Oil related news from Oilprice, The EIA (U.S. Energy Information Administration) reported an estimated 2.9 million barrel increase in oil inventories for the week ending December 15.

XTIUSD technical analysis

Oil prices fell again after trying to rise to level 75.99 yesterday, this fall may have been triggered by the EIA report predicting an increase in oil inventories.

In the daily timeframe, oil prices move between the upper band and middle band. Here the Bollinger bands form a descending channel with a wide band distance indicating medium volatility. MA 50 forms a descending channel near the upper band indicating a downtrend. On the other hand, the RSI shows level 49, meaning the price is below the downtrend level.

In the H1 timeframe, BTCUSD moves near the lower band, and MA 50, here MA 50 forms a flat channel indicating a sideways market. Meanwhile, the Bollinger band is slightly expanding, indicating increasing volatility. On the other hand, the RSI shows level 39, meaning the price is below the downtrend level.

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

 

[fxoday]

Hello everyone, have a nice day, I hope all traders in the FPA community are always healthy and full of happiness

Oil prices are now at 73.86, down 0.09% from the open. Oil prices appear to be still consolidating to form a doji candle near the middle band line.

OPEC's primary goal is to maximize profits from oil exports, often conflicting with the objectives of oil-importing countries.. OPEC+ agreed to cut oil production by 1 million barrels per day starting in January 2024. On the other hand, the US is increasing its production and this is a challenge for OPEC+ which relies on high oil prices.

XTIUSD technical analysis

Oil prices corrected again to around 73 after rising to 75.

In the daily frame, oil prices move above the middle band line below the upper band and MA 50. Here the MA 50 forms a downward channel indicating a downtrend. Meanwhile, the Bollinger bands form a flat channel, an indication that prices may be in a market range. On the other hand, RSI at level 50 means neutral.

In the H1 timeframe, oil prices move below the MA 50 near the middle band line. Here the MA 50 forms a flat channel indicating a sideways market. Bollinger bands are flat, an indication that prices may move within the range of the upper and lower bands. The resistance level is based on the upper band near 75. and support is based on the lower band near 73. On the other hand, the RSI shows level 50, which means neutral

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.[/size]

 

[fxoday]

Hello everyone, have a nice day, I hope everyone is in good health and prosperity today.

Oil price is now at 73.43 on XTIUSD chart FXOpen in Tradingview. Oil prices are still trading in the range of 75 and 72.

News related to oil taken from Oilprice, Russia is planning to scale back oil exports from its sea ports next month by between 100,000 and 200,000 barrels per day compared to December levels.

XTIUSD Technical analysis

Oil prices are now forming a hammer candle where there is a long tail above the body of the candle. After rising to a high of 74.99. back down near 73.40.

On the daily timeframe, oil prices are now above the flat middle band. Narrowing Bollinger bands indicate decreasing market volatility. On the other hand, the 50 MA above the price forms a descending channel near the upper band line. On the other hand, RSI level 49 means the price is below the downtrend level.

In the H1 timeframe, the price penetrates the lower band line, and the Bollinger band line expands, indicating increasing market volatility. The 50 MA above the price forms a flat line indicating a sideways market. and RSI at level 39 means the price is below the downtrend level.

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

 

[fxoday]

Hello everyone, have a nice day, I hope all FPA community members are always healthy and happy

Oil price is currently at 75.24 based on XTIUSD chart FXOpen in Tradingview.

Yesterday oil prices rose to a high of 76.18 amid geopolitical pressure in the Red Sea.

Oil related news from Reuters, Petrobras (PETR4.SA) will reduce diesel prices at its refineries by an average of 8% starting Wednesday, it said in a statement on Tuesday.

The move came shortly before the end of an exemption period of a federal tax on diesel that would make the most fuel used in Brazil more expensive for consumers.

Diesel prices will be cut by 0.30 real to 3.48 reais ($0.7189), the oil giant said, adding they are now down 22.5% this year.

XTIUSD technical analysis

Oil prices are now moving below the upper band line which is the first resistance in oil. MA 50 forms a descending channel near the price indicating a downtrend. Here the Bollinger band is slightly narrowed, there is an indication that the price is moving in a range. RSI at level 51 means the price is above the uptrend level.

In the H1 timeframe, oil prices are now moving between the upper and middle band lines. Here the Bollinger band expands, indicating increasing market volatility. MA 50 below the price forms a flat channel indicating a sideways market, and RSI at level 64 means the price is above the uptrend level.

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

 

[fxoday]

ello everyone, have a nice day, Thursday still provides traders with the opportunity to make a profit today.

Oil prices fell again to 73.92 after reaching a high of 76.18 yesterday. Now oil price is at 73.92 based on XTIUSD chart FXOpen in Tradingview.

It seems that the dollar's dominance is starting to fade, several countries have abandoned the dollar for trade, such as Russia and Iran. Russia received sanctions because it invaded Ukraine, and in their agreement to use local currency for trade.

Meanwhile oil prices fell by 2% as a result of tensions in the Red Sea which caused ships affiliated with Israel to have to detour further to avoid Houthi attacks. On the other hand, America formed Prosperity Guardian to protect against Houthi attacks. On the other hand, the Houthis said they only attacked ships affiliated with Israel and did not target other ships.

XTIUSD Technical analysis

Oil price is now at 73.93 below the upper band line. Yesterday oil formed a bearish candle with a lower high.

On the Daily timeframe, oil prices are now moving between the middle and upper band lines. The 50 MA above the price near the upper band forms a descending channel, still indicating a downtrend. Meanwhile, Bollinger bands tend to form a downward channel but with narrowing, meaning volatility decreases slightly. On the other hand, the RSI shows level 50, meaning the price is in the neutral zone.

In the H1 timeframe, the price moves near the lower band line, here the Bollinger band expands, indicating increasing volatility. The 50 MA above the price forms a flat channel, meaning the market is sideways or in trend transition. On the other hand, the RSI shows level 33, meaning the price is below the downtrend zone.

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

 

[fxoday]

Hello everyone, have a nice day, I hope all FPA community members are always healthy and full of prosperity.

Oil prices fell again to 72.09 after previously rising to a high of 76.18, two days in a row oil prices fell again.

The decline in oil prices is a question amid the heated geopolitical turmoil in the Red Sea and Palestine. It seems that political tensions are causing market concerns and there is a decline in demand for oil, especially in the Middle East and a silent look at China.

On the other hand, the US wants lower oil prices to support their industry which needs oil supplies, thereby encouraging an increase in US oil production.

XTIUSD technical analysis

Oil price fell again to the low of 71.77 and the price is now near the middle band line. Here the middle band line becomes the first support point and if it is broken it is possible for the price to find a new support point.

In the daily time frame, oil prices are still moving within the Bollinger band range with a swing high of around 75 and a swing low of around 68. The MA 50 above the price still forms a downward channel indicating a downtrend. Meanwhile, the RSI shows level 43, meaning the price is below the downtrend level.

In the H1 timeframe, oil prices move sideways near the lower band line. There can be seen a decrease in trading volume even though the Bollinger bands form a wide channel, an indication of high market volatility. On the other hand, RSI is at level 23, meaning the price is in the oversold zone.

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

 

[fxoday]

Happy New Year 2024 everyone, hopefully this year will be better than the previous year.

Oil prices are now back down at 71.39 based on the XTIUSD chart FXOpen on Tradingview. Oil prices continued their decline amid turbulent geopolitical pressures in the Red Sea and Palestine.

The situation in the Red Sea is tense due to the Houthi group targeting Israeli ships and those affiliated with it, which means that some are forced to divert course with longer routes and increased costs to avoid Houthi attacks. Meanwhile, Prosperity Guardian, which was formed by the US, appears to be reluctant to join several countries, such as NATO members, Italy, Spain and France.

XTIUSD technical analysis

Oil prices on the daily timeframe move below the middle band line. Here the Bollinger band tends to form a flat channel indicating a sideways market with a range of 75 and 69. MA 50 forms a descending channel above the price indicating a downtrend, and the RSI shows level 43, meaning the price is below the downtrend level.

On the h1 timeframe, oil prices move outside the lower band. Here the Bollinger band expands, indicating increasing market volatility. Meanwhile, the 50 MA above the price forms a downward channel indicating a downtrend. And the RSI shows level 31, meaning the price is below the downtrend level near the oversold zone.

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money

 

[fxoday]

Hello everyone, bright day, hopefully in 2024 we will all get prosperity and blessings in life.

The price of oil has remained flat, today it is at 71.99 and is forming a small candle body at the time of writing.

The discourse on solar cells will become an interesting topic next year amidst the carbon reduction campaign which is threatening global warming. It is hoped that renewable energy sources can replace the role of oil in reducing carbon. Interesting news from citing to Oilprice, Next-Gen Solar Cells: Smaller, Cheaper, More Efficient.

The cells, with a size twice the thickness of a strand of hair, have significant advantages over conventional solar technologies, reducing electrode-induced shadowing by 95% and potentially lowering energy production costs by up to three times.

XTIUSD technical analysis

Oil prices will still move flat at the beginning of 2024.

On the daily timeframe, oil prices are currently around 72 near the middle band line. Here the Bollinger band line forms a flat channel indicating a sideways market with resistance near 75 and support zone near 69. The MA 50 above the price forms a downward channel and the RSI shows level 41, meaning the price is below the downtrend level.

In the H1 timeframe, the price moves near the middle band line and there is a gap in this timeframe where the open price is far above the closing price of the previous candle. Here the MA 50 forms a descending channel indicating a downtrend, and the RSI shows level 50, meaning the price is in the neutral zone.

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

 

[fxoday]

Hello everyone, have a nice day, I hope everyone is healthy and happy as always

Oil price is now at 70.56 based on XTIUSD chart FXOpen on Tradingview. Oil prices form a bearish candle with a long body and a long shadow at the top of the candle.

Latest news citing to Oilprice, OPEC+ will hold a Joint Ministerial Monitoring Committee meeting sometime in early February.. OPEC+ members collectively decided to voluntarily cut 2.2 million bpd from the group's production this quarter.

XTIUSD technical analysis

Oil prices are now in the low zone of 70.56 after yesterday's sharp decline.

On the daily timeframe, oil prices are moving near the lower band with a support zone at around 68. The 50 MA above the price near the upper band is still forming a downward channel indicating a downtrend. On the other hand, the RSI shows level 46, which means the price is below the downtrend level.

In the H1 timeframe, the price is moving near the lower band line, and consolidating after the decline. Here the Bollinger bands widen, indicating increasing market volatility. The 50 MA above the price near the middle band line forms a downward channel indicating a downtrend. And the RSI shows level 26, meaning the price has entered the oversold zone, giving an early warning of a possible reversal.

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.