XTIUSD price analysis

[fxoday]

Hello everyone, entering the second day of this week in the forex trading market open.

The oil price today is 78.53, the price tries to wake up and formed a bulls candle on yesterday's market with a high of 79.11 and a low of 76.66.

Russian oil export remains high despite production cuts, quoted from Oilprice. Russia's crude oil shipments continued to average a high of 3.4 million barrels per day (bpd) in the week of April 21 despite the 500,000 bpd production cut.

XTIUSD technical analysis

Oil price corrected near the 78 level price after dropping low 766.66. The price now moves below the MA line and middle band line indicating the price is in a downtrend zone level with a reversal pattern.

In the daily timeframe, the oil price tries to wake up and formed a bullish candle with a higher high. However, the price still moves below the MA line which becomes the resistance zone level near 79.50. Here we can see the Bollinger band draws narrowed indicating lower volatility. Meanwhile, the RSI indicator shows a level of 52 indicating the price is above the uptrend zone level.

In the hourly timeframe, the oil price breaks the upper band at the price of 78.11 and expanding bands. The price now moves above the MA line and middle band line. The RSI indicator shows a level of 60 indicating the price is above the uptrend zone level.

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

 

[fxoday]

Hello everyone, have a nice day, we have a dream and struggle to make a dream come true.

oil price still traded below the 80-level price. Oil dropped from a high of 78.99 to a low of 76.45 yesterday.

Interesting news citing to Oilprice, US banks faced pressure to reduce funding for fossil fuel. Citigroup, Bank of America, and Wells Fargo have funded a $5.5 trillion fossil fuel project in seven years since Paris Agreement. Resolutions aim to pressure banks more climate-friendly.

XTIUSD technical analysis

oil price now traded at 77.18 based XTIUSD chart FXOpen in Tradingview. Oil prices dropped again after trying to reach a high of 79.

Oil price daily timeframe shows the price below the MA line and middle band line indicating a downtrend market. Here the Bollinger band draws to narrow which means decrease volatility. The resistance zone-based upper band is near 84.60 meanwhile the support zone is near 73.20. RSI indicator shows level 48 indicating a downtrend market.

In the hourly timeframe, oil price move below the MA line and middle band line indicating a downtrend, Bollinger band draws to expands which means increase volatility, meanwhile, the RSI indicator shows level 40 which means the price below the downtrend tries to away from the oversold zone level.

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

 

[fxoday]

Hello everyone, has a nice day, still exist the chances to make a profit from the financial market.

Oil prices continue to decline on yesterday's market, Oil prices now traded on 74.33.

News related oil, Guyana oil discoveries could lead the Guyana fastest growing economy in 2023. The International Monetary Fund predicts Guyana to be the world's fastest-growing economy in 2023, and the former Prime Minister expects GDP to double by 2027.

XTIUSD Technical analysis

Oil prices dropped to a low of 74.16 and reach the support zone near the lower band line. Now the price move above the lower band line. Here we can see the Bollinger band line draws a wide range indicating high volatile market starts to flat. The RSI level shows 41 indicating the price is below the downtrend zone level.

In the H1 timeframe, Oil prices now moved consolidation after heavy drops along three candles in raw. The Bollinger band draws to expand indicating a high volatile market, meanwhile, the RSI indicator shows a level of 29 which means the price entering the oversold zone level.

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

 

[fxoday]

Hello everyone, have a nice day, hope today still make a profit on the last day of Friday's market.

Oil price seems still in the consolidation phase after dropping near the lower band line. The price moved near the 74 level price and only formed a small body candle on yesterday's market.

According to Oilprice, the oil price thickness because of getting the impact of Russian Deputy Prime Minister Alexander Novak and the state of the balance, more OPEC+ cuts are not likely to be necessary.

XTIUSD Technical analysis

Oil price now traded at 74.69 based on the XTIUSD chart FXOpen in the Tradingview. The price move thick in the consolidation phase or sideways market.

In the daily timeframe, Oil price move near the lower band line. and the market still waiting for good momentum whether the price will continue to drop or likewise reversal bullish. Here the RSI indicator shows the level of 42 which means the price is below the downtrend zone level.

Oil price in the H1 timeframe, the oil price is flat, we can see the raw small candle in this timeframe figure out small movement. The Bollinger band squeeze appears waiting to break out. Meanwhile, the RSI level 46 indicates the price is below the downtrend zone level.

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

 

[fxoday]

Hello everyone, Monday market opening gives new chances to make money from forex trading.

Oil price now traded at 76.45 based XTIUSD chart FXOpen in the Tradingview. Oil price tries to wake up after dropping to a low of 73.85 last week.

News related oil citing to Oilprice, Exxon raised its oil and gas production in the first quarter, which helped it book record Q1 earnings despite declining energy commodity prices between January and March 2023.

Exxon reported record first-quarter earnings of $11.4 billion, double from the $5.48 billion for the first quarter of 2022 and down from $12.75 billion for the fourth quarter of 2022.

XTIUSD technical analysis

Oil price tries to reverse after a bearish market in the past week since the price broke the 80 level prices and dropped to a low near the 73 level prices.

in the daily timeframe, the Oil price now tries to wake up after bouncing near the lower band line. Oil price now hit the 76 level price and is still possible to reach the MA line and middle band line. The Bollinger band still draws a wide range but starts to narrow, indicating decreased volatility may occur in the near future.

In the hourly timeframe, oil prices appear to pattern rally and continue to a reversal pattern. The price consolidating near the upper band line still becomes an indecision market. The price is above the MA line and middle band line which means the price is above the uptrend zone level, meanwhile, the RSI indicator shows a level of 61 which means the price is above the uptrend zone level.

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

 

[fxoday]

Hello everyone, have a nice day, Tuesday market, hope all traders will be profitable.

Oil price still traded on previous trading range, despite shaped bearish candle, there are long wick at bottom candle.

Oil price known dropped from high 76.58 to low 74.45 before eventually the price rise to 75.49.

According analyst Oilprice, oil price drop because disappointing Manufacturing Data. the latest manufacturing data showed that the sector contracted for the 5th straight month in April, ending a 30-month period of expansion.

XTIUSD technical analysis

Oil price today traded on 75.57 on XTIUSD chart FXOpen in Tradingview. Oil price contracted above support zone 73.

In the daily timeframe, oil price move above the lower band line and looks consolidated below the MA line and middle band line. Yesterday oil price dropped and formed a bearish candle with a long wick at the bottom candle indicating rejection near the lower band line.

Here the Bollinger band draws a wide range indicating a high volatile market, meanwhile, the RSI indicator shows level 45 which means the price is below the downtrend zone level.

In the hourly timeframe, oil prices are now consolidated near the MA line and middle band line still indecision the market will rise or down. The resistance level near the upper band is roughly 76.20 and the support is near 74.75. The Bollinger band draws to narrow indicating lower volatility, meanwhile, the RSI level shows 50 which means in the neutral zone level.

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

 

[fxoday]

Hello everyone, have a nice day, Wednesday market still offers many opportunities for all traders.

Oil price heavily dropped yesterday and crossed the support zone 73 level price, even the price drop to 71.33.

There are some reason oil falls more than 4%, an analyst from Oilprice says, China's demand disappointing be reason although OPEC+ announce a production cut, economic fears still become general reasons oil drop.

[size]XTIUSD technical analysis[/size]

Oil price heavy drop yesterday and formed a bearish candle with a long body, the price shaped a high of 76.01 and low of 71.33, and now the price is at 71.43 based on XTIUSD chart FXOpen in the Tradingview.

In the daily timeframe, we can see oil prices now cross the lower band line that before worked as a support zone near 73 level price. The Bollinger band expanding indicates a highly volatile market, meanwhile, the RSI level shows 36 which means the price is below the downtrend zone level.

Oil price in the H1 timeframe, we can see oil price drop sharply from 75 level price to a low 71-level price of only need three candles hourly, it means three hours price already dropped more than 400 pips. Now oil consolidated and the weakening trend indicates the strong trend is over. The Bollinger band draws a wide range indicating a high volatile market, meanwhile, the RSI shows level 18 which means the price in an oversold zone 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 members FPA community become profitable traders.

The market is indeed very dynamic, oil prices yesterday still heavily to continue the decline. even the oil price reached a low of 63.93 with yesterday's high of 68.12.

This become a big question for many investors because ideally falling inventories will make the price rise, but in fact, there are disconnects in data between falling inventories to oil prices. Seems the fears economy still becomes the reasonable reason behind plunging oil prices.

XTIUSD technical analysis

In three days oil prices faced a significant decline in raw, oil price yesterday sharply declined to a low of 63.93 based XTIUSD chart FXOpen in the Tradingview.

There are long wicks formed on daily timeframe or pin bar candles, indicating amid the declining market there are big buyers trying to control the price rose up again.

The Bollinger band draws expanding indicating a highly volatile market occurs, meanwhile, the RSI level shows 30 which means the price enters an oversold zone level.

In the hourly timeframe, oil prices now move below the MA line and middle band line, here we can see a pin bar candle formed. Despite the price trying to push up, however, still did not break the previous high, and the price still in the downtrend zone line. Bollinger band expanding, the RSI shows level 30 tries out from oversold zone level.

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

 

[fxoday]

Hello everyone, have a nice day, hope today still get a chance to make a profit.

Oil price still moves steadily near 68 after a heavy dropping at Thursday, oil price still tries to struggle to be a reversal.

Saudi Arabia cuts oil price to Asia, Oilprice reported. Saudi Arabia cut the official selling price (OSP) for its Arab Light crude oil to Asia,

The cut, to go into effect next month, represents a $0.25 per barrel cut month over month.

XTIUSD Technical analysis

Oil prices still move steady yesterday after dropping to a low of 63.93. Oil price now is 68.71 based XTIUSD chart FXOpen in the Tradingview.

In the daily time frame, the Oil price now moves near the lower band line, Pin bar candle has shaped in the daily timeframe indicating the big rejection support zone. The Bollinger band draws a wide range indicating a high volatile market. Meanwhile, the RSI shows level 33 tries to away from the oversold zone.

In the hourly timeframe, oil prices now move flat near the middle band and MA line. Here the Bollinger band squeeze formed indicating a low volatility market waiting for a breakout. The RSI level shows 47 indicating the price is below the downtrend zone level.

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

 

[fxoday]

Hello everyone, Monday market is open, we have many chances to make a profit on this week.

Oil price tries to wake up again after a heavy drop in the last week. Oil price now traded at 71.49 from a low of 63.83.

Oil prices dropped when the Fed raised the interest rate by 25 basis points, and leading gold formed a new high in 2081 before eventually dropping again.

10 countries with the largest natural gas in the world citing to Oilprice is Russia, Iran, Qatar, Turkmenistan, Unites States, Saudi Arabia, the UAE, Nigeria, and Venezuela


XTIUSD Technical analysis

Oil price tries to rise again after a heavy drop in the previous week's market.

Oil price now traded at 71.46 based XTIUSD chart FXOpen in the Tradingview. Oil price raising on the last week Friday market before the market closed.

In the daily timeframe, oil prices now move above the lower band and still below the MA line and middle band line. Here the bands formed a wide range indicating high volatile market. Meanwhile, the RSI shows the level of 41 indicating the price is below the downtrend zone level.

In the H1 timeframe, oil prices now move above the MA line and the middle band line below the upper band line. Here we can see the MA line shows an uptrend market, meanwhile, the Bollinger band tries to expand indicating increasing volatility. The RSI shows a level of 69 which means the price is near the overbought zone level.

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