XTIUSD price analysis

[fxoday]

Hello everyone, have a nice day, I hope all FPA community members have days full of blessings and health

Oil prices were observed to rise yesterday, forming a bullish candle with a long body and a small shadow at the bottom of the candle.

Some analysts state the rise in oil prices to the escalation of tensions in the Red Sea, the latest news that Britain will attack the Houthis, and on the other hand, Iranian ships arriving in the Red Sea to support to the Houthis.

Technical analysis of XTIUSD

Oil price is now at 73.04 based on the XTIUSD chart of FXOpen on Tradingview. Oil prices rose again after reaching a low of 69.40.

On the daily timeframe, oil prices move below the MA 50 which forms a descending line. This line is dynamic resistance near 75. Here the Bollinger band forms a flat channel and the line is slightly narrowed, indicating medium market volatility. The RSI indicator shows level 50, which means the price is at a neutral level.

In the H1 timeframe, the price moves below the upper band. Here you can see the Bollinger band expanding, indicating increasing market volatility. MA 50 below the price forms a flat line indicating a sideways market, and RSI shows level 77 which means the price is above the uptrend level.

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

 

[fxoday]

Hello everyone, have a nice day, Friday is full of blessings, I hope all members of the FPA community are healthy and have a peaceful life

Oil price is currently trading at 72.33, down 0.1% from the open price. Oil prices form a bearish candle with shadows on the top and bottom of the candle, thus forming a small body with long tails at both ends.

According to analysts from Oilprice, forecast weak global economic growth in 2024, predicting that oil demand and prices will remain subdued, with WTI crude expected to average $78.84 per barrel.

XTIUSD technical analysis

Oil prices are currently still moving below the MA 50 line which forms a descending channel. Amidst concerns about the escalation of war in the Red Sea, it seems that demand for oil remains stagnant. While OPEC+ is trying to cut oil output, on the other hand, non-OPEC countries are increasing their production.

On the daily timeframe, oil prices are now below the 50 MA near the middle band line. Here the Bollinger bands form a flat channel and the line narrows, indicating decreasing market volatility. The price may move in the resistance zone of 75 and support of 69. On the other hand, the RSI shows level 44, which means the price is below the downtrend level.

In the H1 timeframe, the price moves in consolidation between the lower and middle band lines. Here the Bollinger bands appear to be expanding, indicating high volatility. Meanwhile, MA 50 forms a flat channel indicating a sideways market, and RSI shows level 46, which means the price is below the downtrend level.

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

 

[fxoday]

Hello everyone, Monday has come, and the market is open again providing profit opportunities for traders.

Returning to the XTIUSD chart, oil prices are now trading at 73.90 based on the XTIUSD chart FXOpen on Tradingview up 2.07%.

There has been no official release which caused oil prices to rise to form a bullish candle last week. It is estimated that the increase in oil prices is only the action of short-term speculators, so it may be hard to bring oil prices higher because the supply of oil on the market is still high.

On the other hand, the role of Geopolitical risks is currently a concern for investors, tensions in the Red Sea appear to be a major escalation considering that several countries are starting to enter this region with maritime warships, including India.

XTIUSD technical analysis

Oil prices rose again to form a bullish candle at the end of last week's trading by forming a high of 74.23 and a low of 72.23.

On the daily timeframe, oil prices move near the upper band line and MA 50. Here the Bollinger band narrows, indicating decreasing market volatility. The 50 MA above the price forms a descending channel. Meanwhile, the RSI shows level 46, which means the price is moving below the downtrend level.

In the H1 timeframe, oil prices moved flat after last weekend's increase. Price moves below the upper band line. The 50 MA near the middle band line forms a sloping ascending channel. Bollinger bands are slightly wide, indicating medium market volatility. The RSI shows level 60, meaning the price is moving below the downtrend 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 everyone is always healthy and happy and gets blessings in life

Oil prices fell again after previously trying to rise at level 74. The price now falls at level 70.95, a drop of 3.99%

The escalation of the war between Israel and Hamas appears to be widespread, recently the war involved Hezbollah in Lebanon, Houtihi in the Red Sea.

XTIUSD technical analysis

Oil prices fell again to a low of 70.17 after previously rising to a high of 73.81. The price is now moving near the lower band line which is the current dynamic support zone. Here the Bollinger band forms a flat channel indicating the market is moving in a range, while the 50 MA above the price forms a decreasing channel indicating a downtrend. Meanwhile, the RSI shows level 44, meaning the price is below the downtrend level.

In the H1 timeframe, oil prices are now moving below the middle band line. Here the Bollinger bands appear to be expanding, indicating increasing market volatility. MA 50 above the middle band line forms a downward channel indicating a market downtrend. On the other hand, the RSI shows level 29, meaning the price is in the oversold zone.

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

 

[fxoday]

Hello everyone, have a nice day, there is still hope in the financial markets, there is still morning after the darkness of night.

Yesterday oil prices were corrected up to form a bullish candle with half the length of the body of the previous candle. In general, oil prices are still trading within the Bollinger band line in the range of 75 and 69.\

Important news related to oil, Russia honors OPEC+ Commitments with Reduced Oil Exports. Russia has pledged to reduce its oil exports by 300,000 bpd until the end of 2023, in a show of solidarity with its OPEC+ partner Saudi Arabia, which is voluntarily reducing its oil production by 1 million bpd until the end of the first quarter of 2024.

On the other hand The EIA's first outlook for 2025 shows forecasted U.S. crude oil production reading 13.4 million barrels per day.

XTIUSD technical analysis

Oil price is currently at 72.10 down 0.08% based on the XTIUSD chart FXOpen on Tradingview.

On the daily timeframe, oil prices are currently moving near the middle band line above the lower band line. Here the Bollinger bands form a flat channel indicating a sideways market in the trading range. The MA 50 above the price forms a descending channel indicating a downtrend, and the RSI shows level 51, meaning the price is above the uptrend level.

In the H1 timeframe, oil prices moved flat near the middle band line in the Asian session. Here the Bollinger band appears to be expanding, indicating an increase in market volatility. Meanwhile, MA 50 forms a flat channel indicating a sideways market. And the RSI shows level 49, meaning the price is moving below the downtrend 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 members of the FPA community are always happy and full of prosperity

Today's gold price fell again at 71.28, dropping 0.03%. It seems that the tensions in the Red Sea have not had a significant impact on oil prices.

According to analysts, the reason oil prices are currently influenced by excess supply, weak prices, and weak demand growth

The only factor that could potentially offset the impact of these factors is the situation in the Red Sea.

XTIUSD Technical analysis

Oil prices are still having difficulty crossing the 75 price level, this week oil prices are still trading around the trading range of 75 and 69.

On the daily timeframe, oil prices move between the middle band and lower band line. Even though yesterday the price tried to rise to a high of 73.80, it still came under pressure and brought it to the price level of 71. Here the Bollinger band has narrowed slightly, indicating that there is a decrease in volatility in this area. The 50 MA above the price forms a descending channel indicating a downtrend. And RSI at level 54 means the price is above the uptrend level.

In the H1 timeframe, oil prices moved flat after yesterday's decline. Price near lower band line. Here the Bollinger band appears to be expanding, indicating that there is an increase in market volatility in this zone. Meanwhile, the MA 50 above the price forms a flat channel, an indication of a sideways market. And RSI at level 30 means the price has entered the oversold zone.

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 FPA community members are always healthy and happy.

The price of liver oil is trading at 73.08 based on XTIUSD chart FXOpen on Tradingview. Yesterday oil prices tried to rise again to form a bull candle.

According to Oilprice analysts, traders are trying to speculate on oil amid escalating tensions in the Middle East, betting that oil could reach $110. Geopolitical tensions in the Middle East, particularly involving the Iran-aligned Houthi rebels, are central to the speculation, although analysts largely believe a major escalation is unlikely.

XTIUSD technical analysis

Oil price is currently trading at level 73.08. Yesterday the price formed a low of 71.16 and a high of 73.76

On the daily timeframe, the price moves near the MA 50 where the MA line forms a descending channel indicating a downtrend signal. Here the Bollinger band forms a flat channel, indicating that the market may move in the range of 75 and 69. On the other hand, the RSI shows level 50, which means the price is in the neutral zone.

In the H1 timeframe, oil prices move below the upper band line. Here you can see the Bollinger band expanding, indicating an increase in market volatility. MA 50 forms a flat channel near the middle band line, indicating a sideways market. And the RSI shows level 60, meaning the price is above the uptrend level

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

 

[fxoday]

Hello everyone, Monday has come, starting the day this week full of hope.

Oil prices still seem to be teetering near the MA 50 which forms a downward channel. It seems that the escalation of the war in Lat Merah has not yet caused oil prices to soar. Although the price has crossed the 50 MA and reached a high of 75.23 but the price is back to the starting point near 72.

News from Oilprice, The Biden Administration took one more baby step towards refilling the nation's Strategic Petroleum Reserves (SPR), announcing on Friday a request for proposals for another 3 million barrels of crude oil for May delivery.

XTIUSD technical analysis

Oil price is now at 72.38 based on XTIUSD chart FXOpen in Tradingview. Oil prices fell again to a low of 72.11 after reaching a high of 75.23.

On the daily timeframe we see the price moving below the MA 50 which forms a descending channel. Based on the MA 50 indicator, the market trend tends to be bearish. Here the Bollinger band forms a flat channel with a swing high near 75 and a swing low near 70. On the other hand, the RSI shows level 62, meaning the price is above the uptrend level.

In the H1 timeframe, the price moves near the lower band line below the MA 50. Here the MA 50 forms a flat channel indicating a sideways market. Meanwhile, Bollinger bands form a descending channel with a downward trend tendency. On the other hand, the RSI shows level 25, meaning the price is in the oversold zone.

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 members of the FPA community are always healthy and full of prosperity.

Today's oil price is at 72.79 based on the XTIUSD chart FXOpen on Tradingview. In general, oil prices move within the range of 76 and 70 price levels.

Tensions in the Red Sea appear to be continuing, recently the Houthis attacked a US merchant ship after targeting a warship adding momentum to further escalation of the war.

XTIUSD technical analysis

Oil prices are still stagnant in the 72k range, the price touched a low of 71.35 but rebounded and formed a long chord at the bottom of the candle.

On the daily timeframe, the price moves below the MA 50 which forms a descending channel indicative of a market downtrend. Prices are still moving near the middle band line which is the current pivot point. Here the Bollinger bands form a flat channel indicating a sideways market. On the other hand, the RSI shows level 67, meaning the price is above the uptrend level.

In the H1 timeframe, oil prices move below the MA 50 which forms a flat channel indicating a sideways market. Price also moves below the upper band line which is the dynamic resistance zone in this time frame. while the RSI shows level 50, meaning the price is in the neutral zone.

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

 

[fxoday]

Hello everyone, have a nice day, hopefully, today is better than yesterday.

Oil prices were corrected again down at 72.01 based on the XTIUSD chart FXOpen on Tradingview. Oil prices are stable in the 70s range, yesterday prices reached a high of 73.60 and a low of 71.81.

Oil-related news citing to Oilprice, North Dakota Oil Output Down Up to 650,000 BPD in Severe Storm. Refinery shutdowns and production stoppages took hundreds of thousands of barrels offline because of the storm.

XTIUSD Technical analysis

Oil prices are still trading in the range of 75 and 70-level prices. Even though yesterday the price rose to level 73.65, it finally fell again to around 72.

On the daily timeframe, oil prices are currently moving between the lower and middle band lines. Here the Bollinger bands form a flat channel and the bands narrow, indicating a sideways market and a decrease in volatility. The 50 MA near the price forms a descending channel but there is a sloping line pattern. On the other hand, the RSI shows level 49, meaning the price is below the downtrend level.

In the H1 timeframe, oil prices move near the lower band line. Here the Bolinger band line expands slightly, indicating an increase in market volatility. The 50 MA above the price forms a descending channel indicating a downtrend. And the RSI shows level 49, meaning the price is below the downtrend level.

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