XTIUSD price analysis

[fxoday]

Hello everyone, Tuesday market, hope all traders getting a profit today.

Oil price tries to continue rising yesterday, the oil price formed a bulls candle with a small shadow on the top candle.

Oil price gained 2% on yesterday's market, the reason is largely driven by the easing of economic slowdown fears in the U.S.

XTIUSD technical analysis

Oil price now traded at 72.84 based on XTIUSD chart FXOpen in Tradingview, oil price wakes up again after a previous dropped low of 63.83.

In the daily timeframe, we can see Oil prices now move below the MA line that work becomes the first resistance of oil near 74.15. Here we can see the Bollinger band wide range indicating high volatile market and the middle band draws descending line indicating a downtrend market because the price is below the MA line level. Meanwhile, the RSI draws level 44 which means the price is below the downtrend zone level.

In the H1 timeframe, oil prices now move near the MA line and middle band line. The indicator gives an uptrend signal in this timeframe, despite the Bollinger band drawing a narrow range which means a low volatility market, Meanwhile, the RSU shows a level of 62 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, hope today the trend becomes our friend in making profit trading.

Oil price tries to move higher yesterday. The oil price formed a low of 71.28 and a high of 73.69.

Citing to Oilprice, Saudi Arabia’s oil giant saw net income drop by 19% in the first quarter compared to a year earlier.

XTIUSD technical analysis

Oil price now tries to head up again after the previous drop, the price now traded near the MA line and tries to cross the line.

In the daily timeframe, oil price shows a morning star pattern, and here we can see the Bollinger band draws a wide range indicating the price in a high volatile market. The RSI shows level 46 indicating the price below the downtrend zone level.

In the H1 timeframe, oil prices now move above the MA line and the middle band line near the upper band line. Here the Bollinger band draws a narrow range indicating a low volatility market. Meanwhile, the RSI shows level 63 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, still left hope in the market to make a profit this week.

oil price traded in the previous trading range. Oil price move below the MA line which becomes the first resistance line.

Oil price now traded at 72.78 based on XTIUSD chart FXOpen in Tradingview.

Economic news taken from Oilprice, U.S. inflation slipped below 5% in the month of April, and CPI rose 4.9% year-on-year.

XTIUSD technical analysis

Oil prices still move below the middle band and MA line in the daily timeframe. The price gets a rejection on the MA line at 73.69 and makes the price drop to a low of 71.74. However, the candle pattern is from a lower high which means that based on technical the price tends to be bullish. Here the Bollinger band draws a wide range indicating a high volatile market, but the line starts to flatten indicating price reversion. The RSI indicator shows level 45 which means the price is below the downtrend zone level.

In the H1 timeframe, Oil price tends to be flat or sideways market. We can see the Bollinger band squeeze waiting for the breakout. The price now moves near the middle and MA line that figured flat line. The RSI shows level 50 which means the price in the neutral zone level.

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

 

[fxoday]

Hello everyone, has a nice day, wish all traders the FPA community becomes profitable always.

Oil price faced rejection price near the MA line, and the price declined after touching the MA line that works as dynamic resistance amid a downtrend market.

News, citing to Oilprice, OPEC has barely changed its forecast of global oil demand, predicting growth of 2.33 million bpd or 2.3% Y/Y growth, good for a very slight increase from its previous forecast of 2.32 million bpd.

XTIUSD technical analysis

Oil price at present traded of 71.37 seen in the chart FXOpen in the Tradingview at the time of writing.

Oil price yesterday plunged to a low of 70.61 from a high of 73.43. Oil price formed a bearish candle with a long body and small shadow.

In the daily timeframe, oil prices now traded below the MA line and middle band line. The support zone near the lower band is roughly, 67.23, and the resistance zone line upper band is roughly 82.35. The Bollinger band draws a wide range indicating high volatile market, meanwhile, the RSI indicator shows a level of 41 which means the price is below the downtrend zone level.

In the H1 timeframe, oil prices now moved below the MA line and middle band line. The here-based indicator is a downtrend market. The Bollinger band expanding line also indicates the price increase volatility. The RSI indicator shows a level of 39 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, new opportunities open again to catch a profit.

Oil price consolidated at 70.06 after dropping in the Friday market last week. Oil prices continue to decline and looking for support near the lower band line could be achieved.

Recent hot news citing Oilprice, Iraw, and Iran ignore US sanctions, as a result, billions in Iraqi funds owed to Tehran have been frozen as an attempt by Washington to pressure Iraq.

XTIUSD technical analysis

Oil price now traded at 70.06. On the last week's Friday market, oil prices recorded declining from high71.72 to 69.91.

In the daily timeframe, we can see the Oil prices now move between the MA line and the lower band line. The price still figures out a bearish pattern in this timeframe. The Bollinger band draws a wide range indicating a highly volatile market, meanwhile, the RSI shows a level of 39 which means the price is below the downtrend zone level.

Oil price in the H1 timeframe, price now moves near the lower band line below the middle and MA line, the Bollinger band draws a small range indicating medium volatility, with tendencies of the MA line in a downtrend signal. Meanwhile, the RSI shows a level of 37 which means the price is in a downtrend zone level.

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

 

[fxoday]

Hello everyone, Tuesday's market still provides new hope in the forex market.

Oil price today I see traded at 71.30 on the XTIUSD chart FXOpen in the Tradingview. Yesterday oil prices formed a bulls candle with lower highs.

News citing to Oilprice, Russian export oil climbing hitting 3.6 million bpd through seaborn nearly going to China and India with the rest to unknown destinations in Asia. Russia announces a cut production of 500.000 bpd, but export continues to climbing find hard to believe.

XTIUSD technical analysis

Oil prices fail to reach support 67, even though the price moved bullish and closed at 71.13 and high at 71.64. The price still forming a lower high indicating possibly the downtrend market may continue.

In the daily timeframe, we can see oil prices now move below the MA line and middle band line between the lower band line indicating a downtrend zone market. Here we can see the Bollinger band draws a wide range still indicating a highly volatile market, meanwhile, the RSI shows a level of 43 which means the price is below the downtrend zone level.

Oil price hourly timeframe, the price now moves near the upper band line that works as the first resistance of this timeframe. The pattern candle still has low movement in the bulls pattern above the MA line and middle band line. Here we can see the Bollinger band draws a medium range indicating a medium volatility market, meanwhile, the RSI indicator shows a level of 62 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, hope today all traders are still able to make a profit from forex trading.

Oil price dropped to 70.61 at XTIUSD chart FXOpen in Tradingview. Oil prices fail to move higher to cross the MA line. The price gets rejection after reaching the MA line.

News oil market citing to Oilprice, IEA says Russia is not cutting oil production as promised. This is because Russian export climbed, and cut oil production 500.000 bps is a mark to question.

XTIUSD technical analysis

In the daily timeframe, oil prices now move below the MA line and middle band line indicating a downtrend market. Here the Bollinger band draws a wide range with resistance zone line 80 and support line 67. The RSI indicator shows level 41 in this timeframe which means the price is below the downtrend zone level.

In the H1 timeframe, oil prices now move below MA and the middle band line near the lower band line. Here we can see the Bollinger band draws medium range high 71 and low 70. The RSI level shows 45 indicating the price below the downtrend zone line.

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

 

[fxoday]

Hello everyone, have a nice day, Thursday market, hope all traders getting green pips today.

Oil prices rose yesterday to a high of 73.27 and cross the MA line. Now oil price is near the middle band line that becomes the resistance zone line in a downtrend market.

According to IEA, oil demand will grow by a substantial 2.2 million bpd this year, it is possible to raise oil prices if the forecasting is near to be true.

XTIUSD technical analysis

Oil price traded at 72.74 at the time of writing based XTIUSD chart FXOpen in Tradingview. Oil prices rose high to 73.27 after hitting a low of 70.03 yesterday. The price tries to cross the middle band line that works as a resistance zone line. if likely the price success breaks, could drag the price up to the next resistance near the upper band line. Here we can see the Bollinger band starting to draw flat indicating lower volatility. meanwhile, the RSI shows the level of 47 which means the price is still below the downtrend zone line.

In the H1 timeframe, oil prices now consolidated near the upper band line, the price forming a retracement pattern in the last few hours. Here we can see the Bollinger band expanding indicating raising high volatility, and MA 20 below the price indicating an uptrend. Meanwhile, the RSI level shows 67 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, Friday market, still there is hope this week to catch a profit.

Oil prices still get obstacles to reaching a high of 77, the oil price gets rejection near the middle band line on yesterday's market at near 72.75. The price dropped after hitting the middle band line and formed a bearish candle with a lower high.

Citing Oilprice, Russia finally to cut oil production, Russia's President Vladimir Putin said earlier this week that the country had decided to slash crude oil production in order to support global oil prices. Originally, the production cut was thought to last for a single month, but Putin later said that the cuts would run through the remainder of the year

XTIUSD Technical analysis

Oil price now traded at 72.14 based XTIUSD chart FXOpen in Tradingview. Oil prices dragged down after hitting the middle band line.

In the daily timeframe, Oil prices now move near MA 20 below the middle band line. The participants below the middle band as before got rejected. Here we can see the Bollinger band line draws to narrow indicating lower volatility. Meanwhile, the RSI shows a level of 46 which means the price is below the downtrend zone level.

In the H1 timeframe, Oil prices now move below the MA line and middle band line. Here the Bollinger band draws a wide range indicating high volatility occurs. The RSI shows a level of 50 which means the price is in the neutral zone level.

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

 

[fxoday]

Hello everyone, has a nice day, Monday has come in the new week, and hope still remains to exist.

Oil price last week looks wavy movement, the price formed a Doji candle with a long wick on the top candle. Oil price traded at 71.72 seen on the chart XTIUSD FXOpen in Tradingview.

News citing to Oilprice, Warren Buffett’s Berkshire Hathaway bought additional shares in Occidental Petroleum this week, raising its stake in the U.S. oil firm to 24.4%

Berkshire Hathaway now owns 217,330,133 common shares of Occidental, which are worth around $12.7 billion.

XTIUSD technical analysis

Oil price traded near 71 level price last week, the price is now consolidated near the MA line and middle band line. Here we can see the Bollinger band draws flatten indicating the price decrease volatility. Meanwhile, the RSI shows the level of 45 which means the price is below the downtrend zone level.

Oil price in the hourly timeframe, now oil price move below MA line and middle band line indicating downtrend pattern. Here we can see the Bollinger band draws a wide range indicating a high volatile market in this timeframe, meanwhile, the RSI shows a level of 45 which means the price is below the downtrend zone level.

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