XTIUSD price analysis

[fxoday]

Hello everyone, have a nice day, hope all FPA members are always in health and happiness.

Oil price in yesterday's market dropped low 76.88 based XTIUSD chart FXOpen in Tradingview.

According to analyst Oilprice, Oil prices have nearly erased all year-to-date gains as shrinking refining margins signal weaker demand for oil.

Another important news related to oil is, that Iran has urged OPEC members to halt oil exports to countries supporting Israel. It could have the potential to significantly disrupt global oil supply and prices.

XTIUSD technical analysis

Oil price in yesterday's market formed a bearish candle with a long body indicating a strong downtrend. The price eventually breaks the lower band and continues to bearish.

In the daily timeframe, we can see oil price now draws a lower low and record low of 76.88 indicating oil demand decreasing in big trading volume. Here the Bollinger band expands indicating the market increase volatility. Meanwhile, the RSI level of 30 gives an early warning the price entering the oversold zone level.

In the H1 timeframe, the Oil price significantly dropped, here we can see the price move near the lower band line, and the Bollinger band expands indicating the market increased volatility. The MA 50 draws a descending line far above the prices giving a downtrend signal. Meanwhile, the RSI level 16 gives an alert the prices already in 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, I hope all traders remain profitable and full of enjoyment.

Oil prices still continued to drop in yesterday's market and recorded a new low of 74.90.

According to analyst FXOpen in Tradingview, oil prices dropped because:

→ first, easing concerns about the escalation of the military conflict in the Middle East and interruptions in the supply of oil produced in the region;
→ secondly, the data from Beijing. While China's crude oil imports rose in volume and value in October, the country's total exports fell 6.4% year on year, more than expected, CNBC reports. This points to a slowdown in demand in a world where central banks in many countries are keeping interest rates high to combat inflation.

XTIUSD technical analysis

Oil price now traded at 75.55 rising 0.07% based on XTIUSD chart FXOpen in Tradingview. Yesterday oil formed a bearish candle and recorded a new low of 74.90.

In the daily timeframe, oil prices break the lower band line and here the band's line expands indicating the market's increasing volatility. However, the RSI level shows level 30 which means entering the oversold zone level. The MA 50 drawing flat indicates the market sieways in the long term.

In the H1 timeframe, oil prices now moved below the middle band line near the lower band line. Here the Bollinger band draws descending lines indicating a downtrend market. The MA 50 also draws a descending line indicating a downtrend market. Meanwhile, the RSI level is 34 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, hope all traders in the FPA community are always health and full happiness.

What happens with the Oil market? Yesterday the price draw Doji candle with an open price of 75.48 and close at 75.55, with a low of 75.14 and a high of 77.07.

Today's news about oil is quoted from Oilprice. Russia and China are increasing their presence in the Iraqi oil market, taking advantage of reduced US influence in the Middle East and leveraging strategic alliances. The new oil law, controlled from Baghdad, is intended to regulate all oil and gas production in Iraq, consolidating power and perhaps marking a shift away from Western energy dominance.

Meanwhile, Saudi Arabia's Energy Minister accused oil speculators of being behind the recent drop in oil prices, saying they were misreading the oil market.

XTIUSD technical analysis

Oil price now traded at 75.56 based XTIUSD chart FXOpen in Tradingview. Oil prices are still below 77 level prices despite yesterday tries rise above 77.

In the daily timeframe, oil prices still move near the lower band line at the previous low price zone. Here the Bollinger band looks expanded indicating the market in high volatility. Meanwhile, the MA 50 draws a descending line indicating the oil market is in a downtrend. Meanwhile, the RSI gives an alert if the prices are already in the oversold zone level at 27.

In the H1 timeframe, oil prices move below the MA 50 and near the lower band line. Here the Bollinger band squeeze indicates that the market is in low volatility awaiting breakout. 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.

 

[fxoday]

Hello everyone, Monday market, this week still gives new hope for all traders.'

Oil price now traded at 76.81 drop of 0.61% from opening.

News world citing to Oilprice, Moldova Faces EU Pressure To Levy More Sanctions Against Russia, Moldova, and Ukraine obtained candidate status for EU membership in June last year.

Another news is Used Car Market In Turmoil As Prices Collapse And Demand Wanes. Auto research firm Cox Automotive - the owner of the closely followed Manheim price index - published new data this week for October that shows wholesale used-vehicle prices continue to slide and have reached the lowest levels since April 2021.

XTIUSD technical analysis

Oil prices still traded at a low level of 75 last week. despite the Oil price trying to rise, but still held by resistance 77.

Now in the daily timeframe, oil prices move far below the middle band and near the lower band line. Here the middle band draws a descending line indicating a downtrend market, and the MA 50 also draws descending line. The band's line still seems to expand indicating the market in higher volatility. And the RSI level 35 tries out from the oversold zone level.

In the H1 timeframe, oil prices now move near the middle band line, here the band's line seems narrowed indicating the market in low volatility. Meanwhile, the MA 50 draws flat indicating a sideways market, and the RSI level is 52 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, on Tuesday there are still many opportunities to make a profit from the forex market, stay enthusiastic and keep fighting.

The current price of oil is 78.42, up 0.01% from the opening price. It seems that oil prices have started to rise after reaching a low point of 74.90.

Oilprice analysts stated the OPEC report suggests demand in the U.S. and China is not lowering to the point of concern the trigger for rising oil prices.

The markets were also responding to unclear indications from the U.S. Federal Reserve about a potential end to rate hikes, with various investment banks speculating on rate reductions in the next 12 months.

XTIUSD Technical analysis

Oil price now traded at 78.42 based XTIUSD chart FXOpen in Tradingview. Oil prices rose from a low of 76.17 to a high of 78.53 in yesterday's market.

In the daily timeframe now we can see the Oil price moved below the middle band line near the lower band line. The MA 50 draws a descending line indicating a downtrend market. Meanwhile, the RSI level is 40 tries away from the oversold zone level.

In the H1 timeframe, Oil prices now moved near the upper band line, here the Bollinger band expanded indicating the market increased volatility. The MA 50 line draws an ascending line far below the prices indicating an uptrend market. Meanwhile RSI level is 69 which means the prices are above the uptrend zone level near the overbought zone.

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 remain profitable and become rich from forex trading.

Today Oil price at 78.01, the oil price seems started to rise in the past few days.

According to oil market analysts Oil prices moved higher on Tuesday as both OPEC and the IEA released reports pointing to strengthening global oil demand growth.

XTIUSD Technical analysis

Oil price yesterday formed a high of 79.64 and drew a low of 77.54, the price forming a bull candle with a long wick on a top candle.

In the daily timeframe, we can see oil prices now moved below the middle band line which here worked as the first resistance in the downtrend market. The Bollinger band looks narrowed indicating the market's lower volatility, and the RSI 41 which means the prices are below the downtrend zone level.

In H1, oil prices moved near the lower band line which is dynamic support by the Bollinger band, and here the price is also near the MA 50 which becomes dynamic support in an uptrend market. Meanwhile, the RSI level 45 indicates the prices 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, hope all traders remain healthy and full of happiness in their life.

Oil prices fell again after rising to a high of 79.64 the previous day, the current oil price at 76.55 is down 1.92%.

Due to falling oil prices, Bloomberg reported that Russia will cut its crude oil export duties by 5.7% for December

New import duties that began in December were set at the equivalent of $3.37 per barrel or $24.7 per ton, according to Bloomberg.

Meanwhile, Saudi Arabia may extend its cut oil production until 2024 according to Reuters due to Energy Aspects co-founder Amrita Sen as said on Wednesday, citing oil prices that are still too high and fundamentals that are still too strong to support a reversal.

XTIUSD technical analysis

Oil prices fell again to a low of 76.42 yesterday after reaching a high of 79.64 the previous day.

On the daily time frame, we see the price of gold between the middle band and lower band with a downward trend based on the middle band and MA 50. Even though the Bollinger band still shows a wide line, there is a narrowing occurring in both band lines. Meanwhile, the RSI shows level 35, which means the price is below the downward level line.

Meanwhile, in the H1 time frame, oil prices are currently near the lower band and there is a widening of the Bollinger band line which indicates increased market volatility. The MA 50 is flat, indicating a sideways market, while the RSI shows level 29, which means the price is in the oversold zone.

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

 

[fxoday]

Hello everyone, beautiful day, I hope all traders in the FPA forum community always get profits in trading.

Today oil prices fell again to a low level of 72.36 continuing their downward trend. As predicted, oil prices will reach level 73 in 2024.

Unpleasant news from the UK as quoted by oilprice. Households in the UK could see their energy bills increase by 5% from January 2024 when the energy markets regulator Ofgem is expected to raise the so-called energy price cap. This was said by the Cornwall consultancy

Analysts cited the fall in oil prices as data reports showing a month-on-month decline in the processing of oil from Chinese refiners in October, which has also revived concerns about demand, despite an official letter from OPEC earlier this week stating that production of crude oil will increase.

XTIUSD technical analysis

Oil prices continued their decline yesterday by forming a bearish candle with a short tail at the bottom of the candle. The price has even fallen to a low level of 72.36 on the XTIUSD chart FXOpen in Tradingview.

On the daily timeframe, oil prices are currently near the lower band line and here the Bollinger band expands indicating a downward trend, while the MA 50 is far above the price forming a descending channel. On the other hand, the RSI shows level 30, which means the price is trying to enter the oversold zone level.

In the H1 timeframe, the oil price is currently near the lower band line, and here the Bollinger band expands indicating increasing market volatility, while the MA 50 line is far above the price forming a descending channel indicating a downward trend. And the RSI indicator shows level 28, which means the price is at the oversold level.

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

 

[fxoday]

Hello everyone, have a nice day, On Monday the forex market is open again, providing new opportunities for traders.

Oil prices tried to rise again at the latest figure of 75.91, down 0.11%. Oil prices reached a low point at the price level of 72.36 on November 16 and currently, the price has risen to level 75.

Rumors about oil, OPEC says to pay attention to an additional 1 Million Bpd Output Cut. While Goldman Sachs expects OPEC not to let oil prices slide too much below $80 per barrel next year and use its pricing power to keep them in the $80-$100 range, the bank said in a note this week, ahead of the OPEC+ meeting in November 26.

XTIUSD Technical analysis

The current oil price is at level 75.91 based on the XTIUSD chart FXOpen in Tradingview. Oil prices formed a bullish candle at the end of last week after the decline stopped at level 72.

In the current daily timeframe, oil prices show that they are between the middle band and lower band line. Here, the middle of the Bollinger band is generally pointing downwards, indicating a downward trend, as well as the MA 50 shows a descending channel. Meanwhile, RSI level 37 indicates that prices are below the downtrend level.

In the H1 timeframe, the oil price is currently near the upper band line and here the 50 MA is below the price with a horizontal line indicating a reversal signal transition. While the Bollinger band is wide, indicating increased volatility in this timeframe, while the RSI level 73 indicates the price is in the overbought zone level. .

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

 

[fxoday]

Hello everyone, beautiful day on Tuesday, I hope all traders are always healthy and happy

Oil prices are currently trying to rise again at 77.55. It forms a bulls candle with a short tail on the top candle.

Oil prices are expected to rise because there is a possibility that OPEC will extend production cuts. OPEC+ members are set to meet on Sunday to discuss production policy, and unnamed sources have claimed that the group will be discussing further production cuts.

XTIUSD Technical analysis

Oil prices rose again yesterday and printed a high of 78.44 with a low of 75.90.

On the daily time frame, oil prices have touched the middle band line and were rejected in that zone. Currently, oil prices are below the middle band line and are still in a downward trend even though they have formed a reversal pattern. Meanwhile, the MA 50 is far above the price forming a descending line indicating a downtrend. And the RSI is at level 41, which means the price is below the downtrend level.

In the H1 time frame, oil prices are currently near the middle band and the Bollinger band is pointing upwards, indicating an upward trend in this time frame. There is a slight increase in volatility seen from the widening bands. MA 50 is far below the price and forms a flat line, indicating that a trend transition is underway. And RSI level 59 which means the price is above the uptrend level.

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