XTIUSD price analysis

[fxoday]

Hello everyone, have a nice day, hope today all FPA members community in full happiness as always.

XTIUSD climbed high at 76.43, a continuation of the previous bullish trend.

The Houthi threat in the Red Sea is still a concern for cargo ships, especially those linked to Israel. Recently chief executive A.P. Moller-Maersk Vincent Clerc told Bloomberg TV “We have not seen the threat level reach its peak, quite the opposite,”

It is estimated that security threats in the Red Sea will continue to increase for up to a year by several shipping giants.

XTIUSD Technical analysis

Oil prices appear to have formed a bull candle with a long body and managed to cross the middle band line from the downside.

In the D1 timeframe, we see that there is strong buyer pressure and it brings oil prices soaring from a low of 73.58 to a high of 76.45.

The next resistance target may be near the upper band line at the price range 78.54. If this important zone is broken, perhaps oil prices can continue to rise looking for new resistance.

Bollinger bands still form a wide band distance, an indication of high market volatility even though the MA 50 which measures the moving average for the past 50 days forms a flat channel below the price.

On the other hand, the RSI indicator used to measure the overbought and oversold zone shows level 57. If the RSI shows level 70, it means the price has entered the overbought zone.

In the H1 timeframe, oil prices experienced a strong rally after breaking the upper band line at 74.36, then the price climbed sharply in one day.

The expanding Bollinger band indicates increasing market volatility, while the MA 50 forms an upward channel below the middle band giving a bullish signal in this time frame. On the other hand, the RSI indicator shows level 76, which means the price is in the overbought zone. This gives an early warning of a possible reversal or retracement.

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

#uscrudeoil #oilprice #redsea #ticktrader #fxopenuk

 

[fxoday]

Hello everyone, Monday, back to the market today with the hope that all traders will make a profit in this week's trading.

Oil prices are moving stable at around 76 for XTIUSD or US Crude oil. Now Oil price is being corrected after reaching a high of 77.13 on February 9.

According to StanChart, the global oil surplus we are currently seeing is caused by seasonal weakness in January. StanChart notes that there has been a January inventory draw in just three years since 2004, with the average increase in the first month of the year being 1.2 million barrels per day.

Global geopolitical conflicts can influence oil prices, apart from supply and demand, the role of geopolitics may influence the oil supply chain.

When the Hamas vs Israel war broke out, there was an escalation of the war in the Red Sea which was started by the Houthis who targeted cargo ships linked to Israel.

This condition has led the US to enter the Red Sea to protect security in this area. This could continue into a war involving several countries because the Red Sea and the Suez Canal are international strategic routes that pass through many ships from various countries.

However, oil prices still seem to be far from what some experts predicted, in fact, oil prices tend to be under pressure, which could be caused by the decline in global demand, especially China which is recovering from the Covid pandemic.

XTIUSD Technical analysis

Oil prices in the D1 timeframe appear to be moving between the upper and middle band lines. There was a price correction in this area after reaching a high of 77.13.

The 50 MA in this time frame forms an ascending channel with weak indications that the price may start to form a bullish pattern.

Bollinger bands form a flat channel with a wide range, indicating an increase in volatility in the market.

Meanwhile, the RSI indicator shows level 57, which means the price is above the uptrend level.

In the H1 timeframe, oil prices were corrected near the middle band line. Here you can see a Bollinger band squeeze appearing, indicating that market volatility is starting to decline.

MA 50 below the lower band forms an ascending channel, indicating an uptrend signal.

The RSI indicator that measures overbought and oversold areas shows level 53, which means the price is moving above the uptrend level.

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

 

[fxoday]

Hello everyone, I hope all FPA community members are always healthy and full happiness

Today's oil prices do not appear to have changed significantly compared to the previous day. It can be seen that the price is still moving in the range of 76 with a high of 76.96 and a low of 75.46.

Tensions in the Red Sea continue, as reported by Oilprice, the Houthis attacked a Greek ship listed on NASDAQ. The main owner of the ship is Star Bulk Carriers Corp which is based in Greece.

XTIUSD technical analysis

Amidst tensions in the Red Sea and the Gaza war, oil prices are still moving around 76 price levels.

In the D1 timeframe, oil prices appear to be moving between the upper and middle band lines, indicating that bullish sentiment is moving statically.

The MA 50 which measures the movement of the past 50 days forms a slight upward channel far below the price, this indicates strong bullish momentum and may be a trend transition signal.

Bollinger bands form a slight upward channel with wide band spacing indicating high market volatility.

The RSI indicator, which is a leading indicator, shows level 60, which means the price is moving above the uptrend level.

In the H1 timeframe, oil prices move stably near the upper band line in the range of swing high 77 and swing low 75.

MA 50 in this time frame forms an upward channel below the price indicating an uptrend market.

Bollinger bands are slightly expanding, indicating a slight increase in market volatility

The RSI indicator used to measure overbought and oversold shows level 58, which 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, hope all traders will be profitable this week

Oil prices tried to rise and recorded a high of 78.07 for US Crude Oil. However, after that it was corrected to the current price of 77.28 based on XTIUSD chart FXOpen on Tradingview.

According to Oilprice, according to Fitch Ratings, geopolitical instability in the Middle East, upcoming elections in many countries, as well as increasing regulatory uncertainty are the main risks for most commodities including oil and gas, copper, and defensive commodities such as gold in 2024.

Standard Chartered believes that the market seriously underestimated the geopolitical risks that may arise from weak oil demand in January. Analysts appear to be right with the latest global inventory data showing that the oil market is tighter than expected. According to StanChart, there has been a decrease in January inventories in just three years since 2004, with the month's average increase being 1.2 million barrels per day.

XTIUSD technical analysis

US Crude Oil price formed a bullish candle with a short shadow at the top of the candle today. Prices move above the middle band line, an indication that bullish sentiment is more dominant. The price is also far above the 50 MA which forms an upward channel below the middle band line, an indication of strong bullish momentum.

Bollinger bands form an upward channel with a wide band distance, an indication of fairly high market volatility.

The RSI indicator shows level 59, meaning the price is above the uptrend level. RSI is often used to measure overbought and oversold prices.

In the shorter H1 timeframe, oil prices are now moving near the middle band line. The price appears to be correcting after reaching a high near the upper band line.

The 50 MA below the price forms an upward channel indicating a market uptrend. Even though the Bollinger bands form an upward channel, the slightly narrow range of the bands is an indication of rather weak market volatility.

The RSI indicator in this time frame shows level 54, meaning 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, hope all traders in the FPA community are doing well today

Gold price corrected today at 76.18 based on XTIUSD chart FXOpen in Tradingview. It seems that the escalation of the Hamas vs Israel war could involve Egypt in addition to the Houthis and Lebanon.

Tuesday's inflation report showed the consumer price index (CPI) rising 3.1% in January, year-over-year, up 0.3% from December and higher than expectations. That report dented the U.S. stock market on Tuesday and suggested to investors that the Fed may delay the start of interest rate cuts.

XTIUSD technical analysis

US crude oil fell to a low of 76.09 after reaching a high of 78.41.

Oil price is now moving above the middle band line and forming a bearish candlestick with a long shadow on the top candle.

Bollinger bands form an upward channel with wide band spacing, an indication of high market volatility.

MA 50 is below the middle band line forming an upward channel indicating bullish sentiment with strong momentum.

On the other hand, the RSI indicator shows level 53, which means the price is above the uptrend level.

In the H1 timeframe, it is clear that oil has fallen from the upper band and broken the lower band.

In this time frame, the Bollinger band expands, indicating high market volatility. However, RSI shows level 34, which means the price is near the oversold zone level

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

 

[fxoday]

Hello everyone, bright day full of hope, hope all traders doing well today

Oil prices were again observed to rise at 77.51 for US Crude Oil, yesterday the price fell to a low of 75.49
From a fundamental point of view, as reported by Oilprice, according to Bank of America Global oil demand continues to rise and will keep increasing for years, but the annual rate growth may have already peaked.In the long term, OPEC sees robust demand and raised significantly its long-term estimate in its latest annual World Oil Outlook, with global oil demand seen at around 116 million bpd in 2045.

XTIUSD technical analysis

Oil price is now at 77.51 based on XTIUSD FXOpen on Tradingview, oil price is rising after the previous decline at 75.49.

Oil prices move between the upper and lower bands with the Bollinger bands forming an upward channel with wide band spacing, an indication of high market volatility.
MA 50 is below the middle band forming an upward channel indicating uptrend momentum.
The next resistance is based on the upper band at roughly 80 with support based on the lower band at roughly 72.
The RSI indicator shows level 60, which means the price is above the uptrend level.

In the H1 timeframe, oil prices have moved flat in the last few hours. The price corrected after the rally reached a high of 78.03.
The Bollinger band still appears to be expanding but with a flattening angle.
MA 50 forms a flat channel below the price near the middle band line, an indication of bullish momentum on a sideways market
The RSI indicator shows level 57, which means the price is above the uptrend level

 

[fxoday]

Hello everyone, hope all traders in FPA Community are doing well today

Today's US Crude oil price is 78.03 based on XTIUSD chart FXOpen in Tradingview. Price moves near the upper band line.

News related to oil comes from Oilprice, Major oil companies like Chevron, Exxon, Occidental, and Diamondback have engaged in multibillion-dollar mergers, aiming to bolster their positions in the oil and gas market.

XTIUSD technical analysis

US Crude oil prices traded in the 75-78 price range last week, in general prices still moved in the range below the upper band line.

Looking at the last three candlesticks of the daily timeframe, oil prices form a higher low with a candlestick body that is getting smaller.

The Bollinger band indicator forms an upward channel with a slightly wide band distance indicating bullish sentiment with medium volatility

The 50 MA which forms a flat channel is below the middle band line far from the price, signaling bullish momentum.

The RSI indicator that measures overbought and oversold levels shows a value of 61, which means the price is above the uptrend level.

In the H1 timeframe, oil prices are now moving below the upper band line by forming a rejection pattern in this zone.

Bollinger bands appear to be expanding, indicating increasing market volatility. Meanwhile, the 50 MA is drawing a flat channel near the lower band line indicating a sideways market in bullish momentum.

The RSI indicator in this time frame shows level 61, which means the price is above the uptrend level

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

#tradingview #fxopenuk

 

[fxoday]

Hello everyone, hope all members in the FPA community are in health and full prosperity

Today's oil price still tends to move within the previous range, the price formed a doji candlestick which is a market decision

News related to oil comes from Oilprice, Industry body Offshore Energy UK (OEUK) will host the meetings, which will discuss Labour's windfall tax plans for the sector.

The organization warned that up to 42,000 jobs could be lost in the energy sector as a result of Labor's tax plans for the fossil fuel industry.

XTIUSD Technical analysis

Oil price is now at 77.91 down 0.26% based on the XTIUSD chart FXOpen on Tradingview.

In the daily timeframe, we see oil prices moving sideways between the upper and middle band lines.

Here it appears that the Bollinger bands are forming a slight upward channel indicating an uptrend market with moderate volatility.

MA 50 forms an upward channel below the price, indicating a weak uptrend, while the RSI shows a value of 61, which means the price is above the uptrend level.

Oil prices appear to be trying to fall in the H1 timeframe as seen by the last three candlesticks forming a reversal pattern.

The price crossed the middle band line from the upside. MA 50 above the lower band forms an ascending channel, this may be dynamic support in this time frame.

Meanwhile, the RSI indicator shows a value of 46, which means the price is below the downtrend level.

#tradingview #fxopenuk

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

 

[fxoday]

Hello everyone, have a nice day, there is always hope after darkness, so don't give up

Oil price is now at 77.14. Yesterday the price formed a bearish candle and failed to continue the trend and was rejected near 78.50.

Reporting from Oilprice, Russia has fulfilled its promise in January to reduce crude oil exports by 300,000 barrels per day (bpd) this quarter

Russia said at November's OPEC+ meeting it would deepen export cuts to 500,000 barrels per day in the first quarter of 2024

The cuts this quarter will consist of reducing crude oil exports by 300,000 barrels per day and refined products by 200,000 barrels per day.

XTIUSD technical analysis

US Crude oil prices are now moving between the upper and middle band lines with the Bollinger band forming a slight upward channel with a fairly wide price range.
MA 50 forms a flat channel below the middle band line, an indication of a sideways market.
Meanwhile, the RSI indicator, which is a leading indicator, shows the price is at level 56, which means the price is still above the uptrend level.

In the H1 timeframe, oil prices move near the lower band line with the Bollinger band appearing to expand, indicating increasing market volatility.
The 50 MA above the price forms a flat channel allowing for trend or sideways transitions
The RSI indicator shows level 40, meaning the price is below the downtrend level in this time frame.

#tradingview #fxopenuk

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

 

[fxoday]

Hello everyone, have a nice day, hope all FPA community members are in health and happy as always

Oil prices rose again to form a bullish candlestick after dropping at a low of 76.22. The price rose to a high of 77.91 for US crude oil.

News tied to Oil citing to Oilprice, Deutsche Bank Sees Brent Oil Price at $88 by the End of 2024. With the OPEC+ cuts in the first half of 2024, Deutsche Bank sees little upside to its H1 forecast of $83 per barrel Brent.

XTIUSD technical analysis

US Crude Oil prices in the daily timeframe are now moving between the middle and upper band lines. Prices tend to move in a consolidation phase with a price range of 75-78 price levels.

MA 50 is below the middle band line forming a slightly rising flat channel indicating a possible trend transition. Bollinger bands form an ascending channel but the sloping lines indicate weak bullish sentiment.
The RSI indicator shows level 59, which means the price is above the uptrend level.

In the H1 timeframe, the price of US Crude Oil is now moving below the upper band line. Here you can see the Bolinger band expanding, an indication of increasing market volatility. The MA 50 below the price forms a downward channel, but the MA line with a successful line breakout from the downside indicates bullish momentum.
The RSI indicator shows level 62, which means the price is above the uptrend level

#tradingview #fxopenuk

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