XTIUSD price analysis

[fxoday]

Hello everyone, have a nice day, hope all traders in FPA communities become profitable.

Oil prices moved steadily near the 71-level prices. Yesterday oil prices formed a doji candle with a small body.

News citing to Oilprice, US default continue to weigh on markets, oil price sink as fears US default.. The ongoing negotiations on the U.S. debt ceiling have in recent days become the primary bearish factor for oil.

XTIUSD technical analysis

Oil price now traded at 72.05 based on the XTIUSD chart FXOpen in Tradingview. The oil price fell to a low of 70.61 and retrace again to 71.94. oil price range is still between 73 and 70 level prices in the near term.

In the daily timeframe, we can see the oil price move near the MA line and middle band line. Here MA and middle band line close line indicate market consolidation. The Bollinger band draws narrowed indicating lower volatility. The resistance level is near the upper band at 77.30 and the resistance is near 67.20. Meanwhile, the RSI indicator shows a level of 45 which means the price is below the downtrend zone level.

In the H1 timeframe, oil prices now move below the upper band and above the middle and MA line, indicating the price is still in an uptrend based on this timeframe. Here the Bolinger band draws a wide range indicating high volatile market with a resistance zone of 72.65 and support of 70.60. The RSI indicator shows a level of 52 which means the price is still above the uptrend zone level.

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

 

[fxoday]

Hello everyone, Wednesday market, hope will get easiness to make a profit.

Oil prices eventually rise to up 73.69, after hitting a low of 70.61.

There are so many reasons behind the oil price rise, increasing global fuel oil demand, and the Saudi energy minister threatening short sellers. Citing to Oilprice, Short sellers will be acutely aware of the upcoming OPEC+ meeting after the group sent oil prices soaring with a surprise cut in April.

XTIUSD technical analysis

oil price today is 73.69 based on XTIUSD chart FXOpen in Tradingview, oil price climbing from low 70.61 as reason sentiment bullish oil demand.

In the daily timeframe, we can see oil price cross the middle band and MA line. The price is now above the middle band line and MA line but still below the upper band line. Here we can see the Bollinger band draws narrowed line indicating a lower volatility market. The resistance zone near the upper band at 76.63 and support near the lower band at 67.64. Meanwhile, the RSI shows a level of 51 which means the price is above the uptrend zone level.

In the H1 timeframe, oil price now tries to head up the upper band line. However, the price still moves near the upper band and above the middle and MA 20 lines. Here we can see the Bollinger band expanding indicating a higher volatility market occurs, meanwhile, the RSI level shows 65 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 all traders get profitable today.

I see oil prices still continue to rise yesterday, the oil price formed a high of 74.66 and a low of 73.10.

According to an analyst from Oilprice, oil price moves higher because the EIA report draws. Energy Information Administration estimated inventories in the country had shed 12.5 million barrels in the week to May 19. At 455.2 million barrels, the EIA said, U.S. crude oil inventories are 3% below the five-year seasonal average.

XTIUSD technical analysis

oil price now traded at 74.11 based XTIUSD chart FXOpen in Tradingview. Yesterday oil prices continue to move higher and formed a high of 74.66.

In the daily timeframe, we can see oil prices now move above the MA line and middle band line indicating trend market tends in bullish sentiment. Here the Bollinger band draws to narrow which means the market decreases volatility. A resistance-based upper band at roughly 76.40 and support near the lower band at 67.86. Here the RSI shows a level of 52 which means the price is above the uptrend zone level.

In the hourly timeframe, oil price now moves above MA and middle band line indicating an uptrend market. Oil price crossed the MA line and middle band line looking for resistance near the upper band line at roughly 74.48. The Bollinger band here draws a medium range indicating the market in medium volatility. Meanwhile, the RSI shows a level of 56 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, has a nice day, Friday market, as the end day before the market closed.

Oil prices fail to reach resistance of 75, the price eventually dropped again to a low of 70.99 yesterday.

News Today citing Oilprice, Russian Deputy Prime Minister Alexander Novak told Izvestiya, said he expects Brent to be slightly higher than $80 per barrel at the end of the year.

According to Novak, Russia’s task is not inflating oil prices but balancing the market.

XTIUSD technical analysis

Oil price now traded at 71.84 based XTIUSD chart FXOpen Tradingview at the time of writing. Oil price back to near MA line and middle band line and fail to reach resistance level upper band line.

In the daily timeframe, we can see oil price cross the MA line and form a shadow at the bottom candle. Yesterday oil prices formed a high of 74.33 and a low of 70.99. The Bollinger Band indicator line still has no big change in the line position. The band's line draws flatten indicating the market's decreasing volatility. Meanwhile, the RSI indicator shows a level of 45 which means the price is below the downtrend zone level.

In the H1 timeframe, we can see oil prices now move below the MA line and middle band line, here we can see the oil sharply dropped with high volatile market indicating selling and buying pressure in big volume. Meanwhile, the RSI indicator shows a level of 35 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.

 

[fxoday]

Hello everyone, Monday market is open, and traders back to the chart to taken opportunities behind the market.

Oil prices jumped with a gap of 73.45 from close to 72.77. It is means occur gap of more than 50 pips in the opening market.

The topic of Russian cutting oil still becomes a hot topic recently, Oilprice still writing, in the article said Market data suggest Russia isn't cutting oil production as promised. Because Oil shipments out of Russia haven’t dropped in recent months despite the Russian pledge to cut production by 500,000 barrels per day (bpd) from March onwards.

XTIUSD technical analysis

Oil price today is 73.21 based XTIUSD chart FXOpen in the Tradingview. In the opening market occur a gap at oil prices. We can see the opening price far above the close price, even if we can see the gap in the daily timeframe.

In the daily timeframe, we can see the oil price now move between the upper and middle band line. Here we can see the Bollinger band narrowed indicating the market decreased volatility. Meanwhile, the RSI level shows 50 which means the market is in a neutral zone level.

In the H1 timeframe, a gap is clearly seen in this timeframe, the price even breaks the upper band line. Now we can see oil price move near the upper band line above MA and middle band line. Here MA line indicates an uptrend market, meanwhile, the RSI indicator 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, has a nice day, hope the market today gives easiness for all traders to make a profit.

Oil price yesterday move in a low range, despite the gap occurring in oil price, but the price back to recover the gap. oil price dropped to a low of 72.02 from a high of 73.54.

Hot news citing to oilprice, Saudi and Russia in tensions growing ahead before OPEC+ meeting. Riyadh has grown increasingly frustrated with Russia, which apparently hasn’t kept its end of the deal and isn’t reducing oil production as pledged.

XTIUSD technical analysis

Oil price now traded at 72.97 based on XTIUSD chart FXOpen in Tradingview. Oil prices dropped to a low of 72.02 after the gap at Monday's opening.

In the daily timeframe, Oil price move in the trading range between the upper band and middle band lines. The upper band line draws dynamic resistance near 75 level price and support near the lower band line near the 68 level price. The RSI shows the level of 49 which means the price is below the downtrend zone level.

Oil price in the H1 timeframe, oil price moved above the middle band line and MA line, the price cross the line and looked new high. The next possible resistance near the upper band is roughly 73.60 and support is near 72.20. Here we can see the Bollinger band draws a wide range indicating high volatility market. Meanwhile, the RSI shows a level of 55 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, despite the forex market remaining a mystery, this is still becoming a big challenge for traders.

Oil prices dropped again yesterday, the oil price plunged to a low of 69.06 from a high of 73.32. The price move above the middle band and eventually crosses the line drop to near the lower band's line.

An analyst from Oilprice said the oil price dropped below 70 because of uncertainty debt ceiling US clouding the market, besides another factor OPEC is set to meet on June 4 to discuss its own plans for production.

XTIUSD technical analysis

Oil price now traded at 69.63 based XTIUSD chart FXOpen in Tradingview at the time of writing. Oil prices dropped below the 70-level prices.

In the daily timeframe, we can see oil price cross the middle band and MA line to a low 69.06. Oil prices now move near the support zone-based lower band line at roughly 69.50. We can see here the Bollinger band lines draws to narrow which means the market volatility decreased. meanwhile, the RSI shows the level of 40 which means the price is below the downtrend zone level.

In the H1 timeframe, oil price is now moving below the MA line and middle band line near the lower band line. Here we can see the price break the lower band line which means a strong downtrend occurs at the short term. Now the price tries to consolidate. Meanwhile, the RSI indicator already shows the price entering the oversold zone level below 30, now RSI tries to out from the oversold territory at level 32.

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

 

[fxoday]

Hello everyone, have a nice day, hope today all traders in the FPA community are profitable.

oil price still continues to drop to a low of 67.09. The price break the lower band line.

According to Oilprice, oil prices extend losses on weak economic data from China. Oil prices fell by 4% on Tuesday after manufacturing data from China disappointed and the U.S. dollar strengthened.

XTIUSD technical analysis

Oil prices continue to decline on yesterday's market. The price plunged to a low of 67.09 and break the lower band line.

In the daily timeframe, we can see oil prices now out of the lower band line. It means the oil price in high volatility pushes the lower band line to expand. Meanwhile, the RSI level shows 36 which means the price is below the downtrend zone level.

In the H1 timeframe, Oil prices now move near the lower band line. The price retraces to 69.44 before eventually dropping to 67.71. Here we can see the Bollinger band draws to expand which means the market increasing volatility. Meanwhile, the RSI indicator shows a level of 34 tries to out from 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, Friday market still left hope in this week before the market closed.

Oil price yesterday rebounded and formed a bullish candle with a higher high. Oil prices jumped from a low of 67.58 and high71.08.

An analyst from Oilprice Writing oil price jumps as EIA reports inventory build of 4.5 million barrels for the week to May 26.

However, another analyst says the OPEC+ group is not expected to announce another round of oil production cuts.

XTIUSD technical analysis

Oil price now traded at 70.12 based XTIUSD chart FXOpen Tradingview. Oil price surprised ti jumps from a low of 67.09 to a high of 71,08. In previous days the oil price dropped and break the lower band line.

In the daily timeframe now oil price is back entering the Bollinger band line. The price moved below MA 20 and the middle band line. Here we can see the Bollinger band draws a narrow range which means a lower volatility market. The RSI indicator shows level 44 which means the price is below the downtrend zone level.

Oil price in the H1 timeframe. The price move strongly jumped and formed a bullish candle with a long body indicating the price move rapidly at two hours movement. The price is now consolidated and draws a small range flattened. Despite the Bollinger band still figured wide range. Meanwhile, the RSI indicator shows a level of 60 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, Monday market open, hope this week becomes a good week to catch a profit.

Oil prices continue climbing to the 71 level prices. after hitting a low of 67.09 on May 31 oil price eventually reverse and reached 71.76.

OPEC+ meeting held on June 4 discussing cut oil production, It discussed deepening oil production cuts, possibly by as much as 1 million barrels per day (bpd)

XTIUSD technical analysis

XTIUSD price now jumped and occur a gap at 73.37 based on the XTIUSD chart FXOpen in Tradingview.

In the daily timeframe, we can see the oil price open at 73.93, occurring gap from last week's close price of 71.76. Now the oil price move below the upper band line that works as a dynamic resistance. Here the Bollinger band draws a flat line which means the price move in the range market. Meanwhile, the RSI shows a level of 53 which means the price is above the uptrend zone level.

In the H1 timeframe, we can see a gap occur with wide distance, the price now moves out of the upper band line and we can see the Bollinger band expanding means the market increasing volatility,. Meanwhile, the RSI already shows an overbought zone level of 78, which gives an early warning for the possibility or retrace or reversal times.

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