XTIUSD price analysis

[fxoday]

Hello everyone, Happy Monday, I hope this week all traders get the best profits.

US Crude oil prices were observed to fall again to a low of 77.05. This decline indicates that oil demand tends to be stable even though geopolitical tensions in the Middle East are increasingly tense.

Reporting from Oilpice, China is still holding the key to 2024 global oil demand. Chinese imports rose in January and February this year compared to the same two months of last year.

Despite an increase in China's crude oil imports in the first two months of 2024, it's too early to say how the purchases of the world's top crude importer will impact global oil demand and prices this year.

XTIUSD Technical analysis

US Crude oil prices are now moving below the middle band line. The price has crossed the line from the upper side trying to go towards the lower band line which is dynamic support at roughly 76.74. In general, oil prices are in the 75-80 price level range.

MA 50 which forms an ascending channel is near the lower band line could be the next dynamic support at roughly 76.16.

The Bollinger band line appears to be narrowing in this time frame, indicating a decrease in market volatility. On the other hand, the RSI indicator shows level 47, which means the price is below the downtrend level.

In the H1 timeframe, the US Crude Oil price tried to bounce after falling to a low of 76.81. The price is still moving below the middle band line. In this time frame, the Bollinger bands form a descending channel with the band distance starting to narrow, indicating that volatility may decrease.

The RSI indicator that measures the overbought and oversold zone shows level 38, which means the price is below the downtrend level.

Support and resistance

The resistance zone is based on the upper band line of US Crude Oil at roughly 80.00 and the support zone is based lower band line at roughly 76.16.

Even though oil prices have fallen today, they are still in the 75-80 price range. It seems that the good news from China has not been able to cause a significant increase in oil prices

 

[fxoday]

Hello everyone, I hope all FPA community members are always healthy and happy.

Monitoring the market today, the price of oil for US Crude is at 77.77, this is a beautiful number after the price fell to a low of 75.48.

China, which is one of the world's largest oil importing countries, has recently announced an economic growth target for 2024 of 5%. If this growth target can be achieved, it may be able to encourage an increase in oil demand. As is known, the zero Covid policy implemented in China has caused many closures which have slowed the rate of growth.
There are signs that China's trade globally is beginning to markedly trend up again. Exports jumped 7.1 percent year on year to US$528 billion in January and February.

XTIUSD technical analysis

US Crude Oil price is trading at 77.77 moving within the range of swing low 75 and swing high 80.

On the daily timeframe the price moves near the middle band line which is the price consolidation zone.

A narrowing Bollinger band indicates a decrease in market volatility. Meanwhile, the MA 50 near the lower band forms a slight upward channel indicating price above the uptrend line.

The RSI indicator, which is a leading indicator, shows level 52, which means the price is in the uptrend zone.

On H1 timeframe oil price moves near MA 50 which forms a slight descending channel.

Here the Bollinger band appears to form a slight upward channel with a fairly wide distance between the upper and lower bands, an indication that market volatility is quite high.

In the last few hours, oil prices have been almost stable with little movement. The RSI indicator shows a value of 55, which means the price is above the uptrend level.

Support and Resistance

On H1 timeframe, the resistance value is based on the upper band at roughly 79.10 and the support is based on the lower band at roughly 77.00. Bollinger band line can be dynamic support and resistance.
On the daily timeframe, the resistance zone is near the upper band at roughly 80.00 and support is near the lower band at roughly 75.90.

#uscrude #tradingview #fxopenuk

 

[fxoday]

Hello everyone, have a nice day, with the hope that all traders will get abundant profits today.

Monitoring the oil market today, XTIUSD shows a price of 77.86 slightly up 0.35%.

Citing to Oilprice, the EIA now expects Brent crude oil spot prices to average $87 per barrel, according to the latest edition of its Short-Term Energy Outlook published on Tuesday.

For next year, the EIA expects benchmark crude oil prices to average $85 per barrel—a 6.7% increase compared to the $79 per barrel forecast made last month. The EIA estimates that a tighter oil market balance this year will keep Brent prices above current levels before increasing inventories as a result of OPEC+ production cuts later in the year start to put pressure on prices next year.

XTIUSD Technical analysis

The price of US Crude oil is trading at 77.86 today, tends to be stable in the price range forming a small body candle.

The price is now moving near the middle band line which is the pivot point for price consolidation.

On the daily timeframe, the Bollinger bands appear to form a flat channel with narrowing band spacing, indicating sideways with decreasing volatility.

The MA 50 structure is still near the lower band forming a slight upward channel indicating an uptrend market.

On the other hand, the RSI indicator shows level 52, which means the price is 2 points above near the neutral zone

On H1 timeframe, oil price tries to cross the middle band line from the downside. Here the Bollinger bands form a flat channel with a fairly wide band spacing, an indication of a sideways market with moderate volatility.

MA 50 forms a flat channel below the price indicating a sideways market with an uptrend tendency.

The RSI indicator that measures the overbought and oversold zones shows a value of 54, which means the price is above the uptrend level.

Support and resistance

On H1 timeframe, the nearest support is based lower band line at roughly 77.20 and resistance is based upper band line at roughly 78.22.

On D1 timeframe, support zone based lower band at roughly 76.20 and resistance zone based upper band at roughly 80.00 level prices.

#uscrude #tradingview #fxopenuk

 

[fxoday]

Hello everyone, have a nice day, there is still light after darkness, not giving up is the key to success

US Crude oil prices today are trading at 79.32. The price rose again from yesterday's low of 77.31 and formed a bullish candlestick.

Oil-related news citing to Oilprice, gasoline prices have risen recently pushing inflation in the US higher than expected. This condition complicates the Fed's monetary easing plans and is an obstacle for President Biden in the election to convince voters that the economy is fine. U.S. inflation rose by 3.2% over the last 12 months to February.

XTIUSD technical analysis

US Crude oil prices rose again near the upper band after falling near the lower band line. The price is now at 79.32 based on the XTIUSD chart FXOpen on Tradingview.

On the daily timeframe, the Bollinger band indicator forms a flat channel with a narrowing band distance indicating decreasing market volatility.

MA 50 formed a slight rising channel near the lower band line indicating a weak market uptrend.

The RSI indicator shows level 60, which means the price is above the uptrend level.

On H1 timeframe, US Crude oil prices move between the upper and middle band lines. After rallying, the price was corrected near the middle band line. Here the Bollinger band line appears to be starting to narrow, indicating reduced volatility.

MA 50 near the lower band line forms an upward channel indicating an uptrend market with strong momentum. And the RSI indicator shows level 60, which means the price is above the uptrend level.

Support and resistance

On the H1 timeframe, the nearest support is based lower band line at roughly 79.25 and the resistance zone-based upper band line at roughly 79.86.
On the daily timeframe, currently, the price is near the resistance-based upper band line at roughly 80 level price and support zone-based lower band at roughly 76.40.
Apart from measuring volatility, Bollinger bands can also function as dynamic support and resistance.

#uscrude #tradingview #fxopenuk

 

[fxoday]

Hello everyone, have a nice day, Friday at the weekend, I hope all traders are always healthy and happy.

Today's US Crude oil price was recorded at 80.54, the price managed to break through the upper limit may be a sign of increased market volatility.

According to an expert analyst from Morgan Stanley Martijn Rats, oil prices may rise sharply which may surprise people. According to him, this year non-OPEC can still meet all of this year's oil growth, but on the supply side it seems to be starting to falter in Brazil and we have seen a shaky start in Canada. Inventory may increase but not by much.

XTIUSD Technical Analysis

US Crude Oil price is now trading at 80.54. Prices started to see an increase on March 11 after oil fell to 76.48.

On the daily timeframe, oil prices moved slightly above the upper band line. This may be the end of the consolidation phase where the price tends to move within the flat Bollinger bands.

The 50 MA measuring the 50-day moving average forms an ascending channel near the lower band indicating the market's uptrend.

The RSI indicator is at level 65, which means the price is above the uptrend level.

On the H1 timeframe, US crude oil prices now appear to be correcting after rising to a high of 81.03. It appears that the price is moving closer to the middle band line with small bodies lined up.

Here the Bollinger bands seem to indicate downward volatility. The 50 MA below the lower band forms an upward signal indicating an uptrend market. And RSI shows level 63 which means the price is above the uptrend level.

Support and resistance

In the H1 zone, support is based on the lower band around 79.80, and the upper band is based on resistance around 81.00.
ON D1, the support zone based on the lower band is around 76.40 and the resistance zone based on the upper band has been reached so you can look for the next resistance.

#uscrude #tradingview #fxopenu

 

[fxoday]

Hello everyone, Monday is back, and the forex market is again providing opportunities for all traders.

US crude oil price is at 80.87 and formed a small bull candle near the upper band line.

According to Bloomberg Intelligence's oil price survey, UK oil benchmark Brent is expected to exceed $80 per barrel by the end of this year. 53% of respondents see Brent crude oil prices above $80 per barrel by the end of 2024. A much smaller percentage—5% see crude oil prices exceeding $100 per barrel.
UK Brent Oil and US Crude Oil are usually about $5 apart with Brent being more expensive than US Crude Oil.

XTIUSD Technical Analysis

Oil prices tend to be sideways near the upper band line which is a dynamic oil resistance zone. US Crude price has reached a new high of 80.92, with the potential for a breakout.

The Bollinger band on the daily timeframe looks slightly inflated after the price broke the psychological level of 80.

The 50 MA formed a slight ascending channel near the lower band line indicating bullish sentiment.

The RSI indicator shows level 65, which means the price is above the uptrend level.

On the H1 time frame, oil prices move near the upper band line. It appears that in the last few hours the price has tended to be flat, which indicates that the volume of demand and supply is balanced.

The Bollinger bands are slightly inflated on this time frame indicating a slight increase in market volatility. An upside breakout allows the price to climb higher.

The 50 MA formed an ascending channel above the lower band line, which indicates that bullish sentiment is still dominant in this time frame even though there is a slight weakening.

The RSI indicator shows level 62, which means the price is above the uptrend level.

Support and resistance

US Crude oil prices are now in the resistance zone based on the upper band line. An upside breakout allows oil prices to see new resistance estimated at 85.
The short-term support zone is based on the middle band around 80.51 and the next support is based on the lower band around the 80 price level.

Long-term technical analysis for the support zone based on the lower band around the 75 price level and now oil prices are in the resistance zone based on the upper band line. An upside breakout allows the price to seek new resistance around 85.

 

[fxoday]

Hello everyone, have a nice day, I hope all FPA community members are always happy and live a life full of prosperity.

US Crude oil price has risen to 82.44 after breaking away from the psychological level of 80. The price is now at 81.88 based on the XTIUSD chart FXOpen on Tradingview.

Bloomberg analysts predict China will import record amounts of oil from Russia in March as the world's top crude importer cuts supplies of crude shunned by India. China is expected to receive as much as 1.7 million barrels per day (bpd) of crude oil from Russia this month.

XTIUSD technical analysis

The price of US crude oil rose yesterday by forming a long-body bullish candlestick with a short shadow on the top candle. Price moved up from a low of 80.51 to a high of 82.44.

On the daily timeframe, the price moves above the upper band line with the Bollinger band line expanding, indicating increased market volatility.

MA 50 is above the lower band line below the middle band forming an upward channel indicating a bullish market.

On the other hand, today's RSI indicator shows level 68, which means the price is moving above the uptrend level.

On H1 timeframe, US Crude oil price moves near the middle band line. It appears that the price is consolidating in this zone after rising above the upper band line.

The Bollinger band line structure forms an ascending channel with expanding bands indicating increased volatility.

MA 50 is above the lower band line forming an upward channel indicating an uptrend market with strong momentum.

The RSI indicator shows level 61, which means the price is moving above the uptrend level.

Support and resistance

In the short term, possible support-based lower band line at roughly 81.00 price level and a resistance zone-based upper band line at roughly 82.50.

In the long term, the possible support price for US crude oil is near the lower band at roughly 75 level price. Meanwhile, resistance at roughly 85.00 as the upper band line breakout indicates strong bullish.

 

[fxoday]

Hello everyone, how are you today, I hope you are always well.

Today the price of US Crude oil appears to still be in a dominant uptrend, at 82.41 the price has formed a new high at 83.03.

The upward momentum in oil prices may be due to China's predicted improved demand until summer. Other events include Kraine's drone strikes on Russian refineries and OPEC+ members Saudi Arabia and Iraq agreeing to export less crude over the coming months.

XTIUSD technical analysis

US crude oil prices are moving near the upper band line on the daily timeframe, indicating bullish sentiment.

Bollinger bands appear to be expanding on the daily time frame, indicating that market volatility is increasing.

The MA 50, which measures the moving average for the past 50 days, has formed an upward channel above the lower band line, an indication of bullish momentum.

The RSI indicator shows level 71 which means oil prices have entered the overbought zone.

On the H1 timeframe, oil prices are now sideways or consolidating near the middle band line which is the pivot point of the H1 timeframe price zone.

Here the Bollinger band forms an upward channel with a medium upper and lower band distance indicating moderate market volatility.

MA 50 draws an ascending channel in the H1 timeframe near the lower band line indicating bullish momentum sentiment.

On the other hand, the RSI shows level 57, which means the price is above the uptrend level.

Support and resistance

In the short term, the support zone may be near the lower band line at roughly 82.00 price level, and the resistance zone is near the upper band line at roughly 83.00.

On long-term analysis, support zone-based lower band at roughly 75.00 level prices, and resistance may be looking for a new high near 85.00.

 

[fxoday]

Hello everyone, have a nice day, Thursday there are still opportunities to gain profits from market volatility.

Oil prices are now at 81.63 for US Crude oil, prices are down from a high of 82.53 after recording a 2024 high of 83.03.

According to StoneX: Ukraine's recent attack on a Russian refinery has the potential to reduce ~350k bbl/day of global petroleum supply and increase US crude oil prices by $3/bbl.
Different from StoneX analysts, Analysts at J.P. Morgan estimate that 900K barrels of Russian refinery capacity have gone offline after the attacks, adding a risk premium of $4/bbl to oil prices.

XTIUSD Technical analysis today

Oil prices fell again after the market was awaiting the FED decision rate. The Fed finally decided to hold the benchmark interest rate the same as before. Several instruments were seen rising yesterday including gold, crypto, including the EURUSD pair.
However, oil prices fell yesterday after the FED decision rate was announced. However, the decline is still above the psychological level of 80 and still has the potential to rise again.

On the daily timeframe, the price of US Crude oil moves below the upper band line. Here the Bollinger band forms an expanding band channel, an indication of increasing market volatility.
MA 50 forms an ascending channel above the lower band line, an indication of a long-term market uptrend. Meanwhile, the RSI indicator that measures the overbought and oversold zones shows level 66, which means the price is above the uptrend level.

On the H1 timeframe, US Crude oil prices move below the upper band line near the middle band line.
The Bollinger bands in this time frame are forming a slight descending channel with the bands starting to narrow indicating reduced volatility.
The 50 MA above the price forms a flat channel indicating a sideways market. And the RSI indicator shows level 49, which means the price is below the downtrend level.

Support and resistance

In the short term, the oil support price is based on the lower band at roughly 80.83, and resistance is based on the upper band at roughly 82.00 price level.
In the long term, the oil support zone is based on the lower band at roughly 75.00 price level and the resistance is based on the upper band line at roughly 84.00. An upside breakout is possible to oil resistance near the 85.00 price level.

 

[fxoday]

Hello everyone, have a nice day, I hope all traders are always healthy and happy.

US Crude oil prices are falling again today by forming a reversal pattern. The price is now at 80.35 forming a bearish candlestick.

News related to energy was reported by Oilprice. In Austria MCF Energy and its partner, ADX discovered a gas-rich show 115 meters long with a depth of between 1,452 and 1,567 meters at Welchau-1. It is further estimated that this finding could be a source of energy independence in Austria and even ease Europe's $800 billion energy crisis.

XTIUSD technical analysis

US Crude oil prices fell again after reaching their 2024 high at 83.03. The price briefly crossed the upper band line but finally reverses into the band.

On the daily timeframe, we see the price forming a reversal pattern. The Bollinger band line is still forming an upward channel with a wide upper and lower band distance, an indication of high market volatility.
MA 50 in this time frame forms an upward channel below the middle band line indicating an uptrend market. The MA 50 line could be dynamic support for this trend.
The RSI indicator shows level 57, which means the price is above the uptrend level but forms a descending channel after reaching near the overbought zone.

On the H1 timeframe, oil prices move near the lower band line. In the last few hours in the Asian session price movements tend to be flat.
The Bollinger bands in this time frame appear to be fading, indicating reduced market volatility.
MA 50 above the upper band forms a descending channel indicating a market downtrend.
The RSI indicator shows level 41, which means the price is below the downtrend level.

Support and resistance

In the short term, the price is now near the support zone based on the lower band line at roughly 80.00 and resistance near the upper band at roughly 81.00.
On a long-term based on daily timeframe, the resistance zone is near the upper band line at roughly 83.00 and the support zone-based lower band at roughly 76.00.