XTIUSD price analysis

[fxoday]

Hello everyone, have a nice day, hope the world in peace and no war again.

Oil price in yesterday's market plunged to 85.13 and drew a bearish candle in this week since Monday market. Oil prices still fail to continue rising higher to reach 100, the price dropped near the middle band line now.

News-related oil, the Chinese digital yuan has been used in its first cross-border oil deal for 1 million barrels on the Shanghai Petroleum and Natural Gas Exchange (SHPGX) from PetroChina International Corp Ltd.

The transaction took place on October 19 and represents the first time, amid a slow-moving de-dollarization push, that digital yuan has been used to complete a translation for oil, though no further details of the transaction have been made available.

XTIUSD technical analysis

Oil price now traded at 85.70 based XTIUSD chart FXOpen in Tradingview. Oil prices dropped from a high of 87.97 to a low of 85.13 in yesterday's market.

In the daily timeframe, we can see the Oil price now moved near the middle band line and tries to cross the MA 50. The Bollinger band narrowed indicating the market decreasing volatility, with support dynamic-based lower band near 81 and resistance near upper band roughly 90 level prices. Meanwhile, the RSI level is 47 which means the prices are below the downtrend zone level.

In the hourly timeframe, we can see the price now moved near the lower band line. The price plunged after hitting the MA 50 and there are spike movement seen in this timeframe. The Bolinger band expands indicating the market's increasing volatility, and the RSI level 29 which means the prices 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 all traders in the FPA community full of happiness and always healthy.

Today oil price dropped to a low of 82.75 based XTIUSD chart FXOpen in Tradingview. Oil prices formed a bearish candle in two days row.

News oil recently citing to Oilprice, Oil prices are under an increasing amount of downward pressure, but geopolitical risk and continued production cuts from OPEC+ have helped to halt a significant drop.

Another interesting headline is Saudi Arabia, Big Oil, Betting On Oil Even As IEA Calls for No Growth By 2030. Exxon’s announcement of its $60B acquisition of Pioneer Natural Resources and Chevron’s $53 billion acquisition of Hess Corp.

XTIUSD technical analysis

Oil price now traded at 83.58 based on XTIUSD chart FXOpen in Tradingview. Oil price in a bearish market yesterday drew a low price at 82.75.

In the daily timeframe, we can see the prices cross the middle band line and the MA line tries to reach dynamic support based lower band near 80-level prices. Here the Bollinger band narrowed indicating the market in lower volatility, meanwhile, the RSI level 41 which means the prices are below the downtrend zone level.

In the hourly timeframe, we can see oil prices moved below the middle band line and consolidated near the lower band line. Here the Bollinger band draws a wide range indicating a high volatility market, meanwhile, the MA 50 draws a descending line indicating a downtrend market.

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

 

[fxoday]

Hello everyone, have a nice day, Thursday market with the hope all traders are profitable.

Oil prices tried to wake up in yesterday's market, the price drew a bull candle with a high of 85.32 and a low of 81.87.

Escalation war in the Middle East still continues, Libya’s Eastern Govt Calls For Oil Export Embargo For Israel Supporters.

Libya’s eastern-based House of Representatives (HoR) has called for the immediate exit of ambassadors supporting Israel amid airstrikes on the Gaza Strip and demanded that Libyan oil exports to those same countries be halted, according to Turkish and Libyan media reports.

XTIUSD technical analysis

Oil price now traded at 84.91 based XTIUSD chart FXOpen in Tradingview. Yesterday oil formed a bull candle, after dropping a low of 81.87 oil price woke up and reached a high of 85.32.

In the daily timeframe, we can see oil prices now still moved below the middle band line and the MA 50 line. Here the Bollinger band narrowed indicating the market decreased volatility. Meanwhile, the RSI level is 47 which means the prices are below the downtrend zone level.

In the H1 timeframe, oil prices now moved above the MA 50 which still draws a descending line. The Bollinger band looks expanded indicating the market in higher volatility. Meanwhile, the RSI level is 60 which means the prices are 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, In Friday's market, the last day's market gives hope to all traders.

Oil prices in yesterday's market drew a bearish candle again as previous tries moved high. Oil price record low 82.35 and high 85.19.

According to analysts oil dropped on the day when Israel agreed to delay an anticipated ground invasion of Gaza until at least later this week.

The conflict in the Middle East between Israel and Hamas has little direct impact on crude oil prices and the threat of Iran’s future involvement in the conflict.

XTIUSD technical analysis

Oil price now traded at 83.20 based on XTIUSD chart FXOpen in Tradingview. Oil price yesterday dropped and drew a bearish candle.

In the daily timeframe, Oil price now moved below the middle band line near the lower band line. Here the Bollinger band narrowed which means the market in lower volatility. If see the MA 50 that draws ascending line above the prices, it shows an uptrend in the long term. Meanwhile, the RSI level is 41 which means the prices are below the downtrend zone level.

In the H1 timeframe, oil prices now traded between the middle and lower band lines. Here the prices are below the MA 50 which means the prices in a downtrend market. While the Bollinger band draws a wide range in flat indicating a sideways market. And the RSI level is 40 which means the prices are below the downtrend zone level.

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

 

[fxoday]

Hello everyone, have a nice day, Monday market, what happen now?

Oil price still traded in the range 83 - 85 level prices.

Recent news citing to Oilprice, As the oil market grapples with the current and potential effects of the Gaza war, a new significant concern has emerged. U.S. sources indicate that the Biden Administration might soon impose stricter sanctions on Iran

XTIUSD technical analysis

Oil price now traded at 83.84 based on XTIUSD chart FXOpen in Tradingview. In the last week oil market traded in the range of 83-85.

In the daily timeframe, we can see oil prices now traded below the middle band line above the lower band line. Here the Bollinger bands narrowed which means the market decreased volatility. The MA 50 draws an ascending line above the prices indicating an undecision market. Meanwhile, the RSI level is 44 which means the prices are below the downtrend zone level.

In the H1 timeframe, The price move in th range upper band and lower band line zone. Here means the price tends to move in the trading range swing high 85 and swing low 83. The MA line is flat indicating sideways, and the RSI 47 which means the prices are below the downtrend zone level.

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

 

[fxoday]

Hello everyone, have a nice day, wish you all health and happiness as always.

Oil prices still depreciated amid war HAMAS vs Israel, Yesterday oil prices drew a low of 81.52 with a high of 84.57.

Analyst talking about China's oil demand at risk war Israel vs Hamas, For China’s overall 2023 GDP growth figure, the Q3 numbers already suggest that the official government target of ‘around 5 percent’ is already within reach.
October 18 saw figures released showing China’s economy grew by 4.9 percent year on year in Q3. China is the largest oil importer which probably influences oil demand and prices.

XTIUSD technical analysis

Oil price yesterday formed a bearish candle with a long body and the wick touched the lower band line.

In the daily timeframe, we can see oil prices now moved above lower band line below the middle band line. Here the Bollinger band narrowed indicating the market's decreasing volatility, meanwhile, the MA 50 is flat indicating a sideways market. The RSI level 41 which means the prices are below the downtrend zone level.

In the H1 timeframe, oil price now moved to the lower band below the middle band, here the MA 50 draws descending indicating the price tends to be bearish, meanwhile, the RSI level 36 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, have a nice day, despite the world not yet being peaceful, life must go on.

What happened with the Oil prices? Yesterday oil still continued to drop and recorded a new low of 80.49. The price even breaks the lower band line.

There is news from Bloomberg, that Russia’s crude oil exports by sea have been exceeding the country’s targeted export reduction. This may become another reason oil dropped.

But another reason is Weakening global economic growth could keep oil prices below $90 per barrel this year. However conflict in the Middle East still becomes a big concern the next, if war threatens supplies could make prices above $100, Charles Kennedy writes.

XTIUSD technical analysis

Oil price draw 81.09 rise 0.02% today. Oil prices still dropped to and record low of 80.49.

In the daily timeframe, we can see the oil tries to break the lower band line increasing volatility. Here the MA 50 is still flat indicating a transition signal. Meanwhile, the bands' line also narrow indicating lower volatility. Meanwhile, the RSI level is 37 which means the price is below the downtrend zone level.

In the H1, the price now moves near lower band line and here the Bollinger band expands which means the market increasing volatility. Here the MA 50 draws a descending line which means the prices below the downtrend zone line. Meanwhile, the RSI level is 33 near over sould zone level.

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

 

[fxoday]

Hello everyone, have a nice day, yesterday is past and time over now. I hope all traders remain profitable as always.

The oil price seems still too hard to rise above 85, even yesterday market oil price dropped again to a low of 80.08. Despite the price trying to reach 83.08, but gets short pressure at this level.

According to analyst Oilprice, the declining oil because short positions in West Texas Intermediate grew particularly notably last week. However, the conflict in the Middle East still becomes a big concern on the oil market. The war in the Middle East could push crude oil prices to $150 per barrel if it spreads across the region.

XTIUSD technical analysis

Oil price now traded at 80.66 based on XTIUSD chart FXOpen in Tradingview rising 0.04%.

In the daily timeframe, we can see oil prices now move near the lower band line. In the last candlestick shows a long wick on the top candle indicating a market short-selling increase. Here the MA 50 is flat indicating a sideways market, meanwhile, the Bollinger band looks to expand which means the market tries increase volatility. Meanwhile, the RSI level 37 which means the prices already entering the oversold zone level.

In the H1 timeframe, oil prices now moved near lower band line, here the price consolidated after a significant drop yesterday. The MA 50 draws a descending line indicating a downtrend market. Meanwhile, the RSI level is 37 which means the prices are below the downtrend zone level.

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

 

[fxoday]

Hello everyone, have a nice day, today is Monday, market is open again gives new hope for all traders.

Oil prices are still shy to rise, in the last week the oil price still declined again and drew a low of 79.91 from a high of 83.32.

Despite oil prices slumping in the previous week, Russia’s oil and gas revenues jumped in October, according to data from the Russian finance ministry due to a cyclical surge in the profit-based tax, and more than doubled from September to $17.6 billion (1.635 trillion Russian rubles)

The profit-based tax jumped in September and October, boosting revenues. The budget proceeds for Russia last month was also lifted by 27.5% compared to October 2022 as the government did not pay the so-called damper payment to the oil refiners.

XTIUSD technical analysis

Oil price now traded at 80.59 based on XTIUSD chart FXOpen in Tradingview. Oil prices dropped to low of 79.91 an failed to reach the middle band line.

In the daily timeframe, oil prices now moved near the lower band line, here the Bollinger band tries to expand which means the market tries to increase volatility. Meanwhile, the MA 50 is flat for the long term indicating a sideways market, and the RSI level 36 which means the prices are below the downtrend zone level.

In the H1 timeframe, the Oil price now moved near the lower band line. Here we can see the Bollinger band line expands indicating the market tries to increase volatility. The MA 50 draws a flat line indicating the market in sideways, meanwhile, the RSI level is 40 which means the prices are below the downtrend 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, I hope all traders profitable as always this week.

Oil price still traded near the 80 level price, at the time of writing oil price drawn 80.68 rise of 0.11% based XTIUSD chart FXOpen in Tradingview.

News related oil citing to Oilprice. Russian Novatek has dismissed sanctions against its Arctic LNG 2 project imposed by Washington last week as a desperate attempt to keep international gas prices high, Interfax reported on Monday.
Novatek, founded by Leonid Mikhelson, is Russia’s largest private gas group, and its founder and its partnership with French TotalEnergies (NYSE:TTE) has been under scrutiny since Russia’s invasion of Ukraine.

XTIUSD technical analysis

Oil price traded at 80.68 today. The price drawing doji candle yesterday with high at 81.99, opened at 80.79, and closed at 80.76.

In the daily timeframe, we can see the oil price still moved near the lower band line. Here the bands' line tries to expand which means the market tries to increase volatility. The MA 50 is flat indicating a sideways market. And the RSI level 39 which means the prices are below the downtrend zone level.

In the H1 timeframe, the price now moves between the middle and lower bands. Here the Bollinger band draws a flat range which means the market is sideways. The MA 50 draws flat also indicating the market in sideways. Meanwhile, the RSI level is 42 which means the prices are below the downtrend zone level.

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