XTIUSD price analysis

[fxoday]

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Today's US crude oil price is trading at 80.99, slightly up 0.58% and forming a small bull candle.
Ukrainian drone attack on Russian oil refinery gets reaction from US. The United States urged Ukraine to halt drone attacks on Russian oil refineries due to Washington's assessment that such attacks could lead to Russian retaliation and push up global oil prices. Reporting from Oilprice, the Ukrainian drone attack knocked out 600,000 bpd of Russia's refining capacity.

XTIUSD technical analysis today

US Crude oil prices have reached the 2024 high of 83.03 but fell again to a low of 80.21. In general, prices were still moving above the psychological level of 80 during last week's trading.

On the daily timeframe, US crude oil prices move above the middle band line. Bollinger bands are still forming a slight upward channel with wide band spacing, an indication of high market volatility.

MA 50 is below the middle band line forming an upward channel indicating bullish sentiment on strong momentum.

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

On H1 timeframe, US crude oil prices move between the upper and middle band lines. Bollinger bands in this time frame form a flat channel with slightly narrowed bands, indicating a sideways market with slightly reduced volatility.
MA 50 is near the middle band line forming a flat channel indicating a sideways market with prices above the line.
The RSI indicator shows level 56, which means the price is moving above the uptrend level.

Support and resistance

In the hourly period, the US crude oil support zone is estimated to be near the lower band line at roughly 80.35 and the resistance zone is near the upper band line at roughly 81.20.
In the daily period, the support zone for US crude oil is estimated to be near the lower band at roughly 76.50 and resistance near the upper band at roughly 83.00.

 

[fxoday]

Hello everyone, hae a nice day, a day full of hope, I hope all traders do well this week with greenpips results.

Oil prices rose again to level 81.99, yesterday the price of US crude oil formed a bullish candle with a long shadow on the top candle.

Reporting from Oilprice. At the Joint Ministerial Monitoring Committee (JMMC) meeting next week, according to delegates, commodity analyst Giovanni Staunovo OPEC+ group do not see any need to propose a change to the current oil production policy.
OPEC+ members have collectively decided to voluntarily cut 2.2 million barrels per day (bpd) from the group's production this quarter.

XTIUSD technical analysis

The price of US Crude oil rose again in yesterday's trading session by forming a bull candlestick with a shadow on the top candle.

Prices are still moving between the upper and middle band lines on the daily timeframe. the price level of 80.00 near the middle band line could be the pivot point zone in this period.
The indicator's Bollinger band appears to be expanding by forming an upward channel indicating bullish sentiment. On the other hand, the RSI, which is often used to measure the overbought and oversold zone, shows level 64, which means the price is moving above the uptrend level.

On the H1 timeframe, US crude oil prices are now moving below the upper band line. In this time frame, the price is consolidating after a strong rally below the oil price at a high of 82.26.
Bollinger bands appear to be expanding in this time frame, an indication of high market volatility.
MA 50 is below the middle band line forming a slight upward channel, this signals a trend transition from a bearish to a bullish market.
The RSI indicator in this time frame shows level 65, which means the price is moving above the uptrend level.

Support and resistance

The nearest support is based on the lower band at 8.50 and resistance is near the upper band at roughly 82.32.
On the daily timeframe, the middle band, MA 50 line, and lower band could be dynamic support at roughly 76 level prices and resistance at 83.00

 

[fxoday]

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

US crude oil prices fell again yesterday from a high of 82.12 to a low of 80.85. Price has made a bearish candlestick with a short shadow on the top of the candle.

According to Oilprice. The decline in oil prices this time was due to an increase in US oil inventories. Crude oil inventories rose this week by 9.337 million barrels for the week ending March 22, according to The American Petroleum Institute (API).

XTIUSD technical analysis today

The price of US Crude oil is still moving above the psychological level of 80, even though yesterday the price formed a bearish candlestick, the price is still moving in the 80-83 range.

On the daily timeframe, oil prices move between the upper and middle band lines. Here the Bollinger band indicator forms an upward channel with a wide band distance indicating high market volatility.

MA 50 is still the same as the previous day's line structure, the line forms an upward channel indicating bullish sentiment.
The RSI indicator shows level 56, which means the price is above the uptrend level.

On H1 timeframe, the price of US crude oil is near the lower band line. After successfully breaking the lower band at 81.50, the price then plunged to a low of 80.82.

The Bollinger band indicator appears to be expanding in this time frame, indicating high market volatility.
MA 50 is above the price below the middle band line forming a flat channel indicating a sideways market.
The RSI indicator shows level 35, meaning the price is below the downtrend level.

Support and resistance

The closest support based on the middle band line for US crude prices is predicted at 78.50 and then the support based on the lower band at roughly 76.50. Meanwhile, the resistance-based upper band is at roughly 83.00.

 

[fxoday]

Hello everyone, have a nice day, I hope all members of the FPA forex community are always healthy and happy

Today's market for US crude oil at the price of 81.54 forms a bull candlestick with a small body. Prices are still moving within the previous price range reflecting market indecision.

As a result of US sanctions on Russian oil, this has led to increased transportation costs to move Russian crude oil.

Argus estimates that shipping a barrel of Russian crude from ports on the Baltic Sea to China has cost about $14.50 since December. Cited to Oilprice.

The US imposed new sanctions on Russia last month on the second anniversary of Russia's invasion of Ukraine and in response to the death of opposition politician Alexei Navalny.

XTIUSD technical analysis today

US crude oil prices are still moving in the 80-83 price range in trading this week. Although geopolitical events in Russia such as the Ukrainian drone attack that attacked a Russian oil refinery, and tensions in the Middle East are feared to have caused oil prices to soar. However, until now this prediction is still crude and has not yet been seen to come true.

On the daily timeframe the price of US crude oil moves between the upper and middle band lines. Here the upper band could be dynamic resistance and the middle band could be dynamic support.
The Bollinger band structure still forms a slight upward channel with a wide upper and lower band distance. This indicates bull market sentiment with high volatility.

MA 50 forms an ascending channel between the middle and lower band lines indicating bullish sentiment.
The RSI indicator is at level 61, which means the price is above the uptrend level. RSI is a leading indicator that gives signals earlier than the trend itself.

On the H1 timeframe, oil prices are now moving between the upper and middle band lines. Here the Bollinger bands form an upward channel with the bands starting to narrow, indicating reduced volatility.
MA 50 near the middle band line forms a flat channel indicating a sideways market. And the RSI level at 58 means the price is above the uptrend level.

Support and resistance

Oil prices tend to be bullish with the nearest potential resistance at around 81.80 based on the upper band in the short term. Breaking this resistance allows the price to look for the next resistance in the range of 82.
Meanwhile, the nearest support is based lower band at roughly 81.20, and a downside break may bring the price down to support at 80.75.

 

[fxoday]

Hello everyone, have a nice day, I hope traders close the weekend with green pips.

Today's oil price is at 82.57 for US crude oil, up around 2%. Price forms a bullish candlestick with short shadows on the top and bottom of the candle.

Regarding oil, citing to Oilprice, more than 20% of the world's oil refining capacity is threatened with closure. Europe and China face the highest risk of closure due to declining demand and environmental regulations.
The rise of electric vehicles and biofuels is changing the industry, potentially leading to widespread refinery closures.

XTIUSD technical analysis today

The price of US crude oil formed a bullish candlestick with the potential to increase to reach the previous high in the range of 83 price levels.

On the daily timeframe the price of US crude oil moves below the upper band line. Bollinger bands forming an upward channel and expanding bands indicate increased volatility.
The 50 MA above the lower band forms an ascending channel indicating bullish sentiment.
RSI level at 64 means the price is moving above the uptrend level.

On H1 timeframe, oil prices form a bullish market pattern moving below the upper band line.
Here the Bollinger bands form an upward channel with expanding bands indicating an uptrend with increasing volatility.
The RSI indicator is at level 65, meaning the price is above the uptrend level.

Support and resistance

In short-term trading, possible support is near the middle band at roughly 82.00 and based MA line at roughly 81.50, and based lower band at 81.00.
Short-term resistance is expected at the 83 price level, a further breakout may take the price higher.
Long-term support is based lower band at roughly 76 level prices and resistance is predicted to reach 85 level prices.

 

[fxoday]

Hello everyone, have a nice day, Monday has come, and trading activities will start.

Meanwhile, the price of US crude oil is still stuck at the price level of 82. Last weekend the price of oil rose from a low of 80.31

Oilprice reported interesting news about oil that Russia will cut oil production and not exports in the second quarter of 2024 so that all OPEC+ producers who reduce production contribute equally to the reduction. This message was conveyed by Russian Deputy Prime Minister Alexander Novak on Friday.

XTIUSD Technical analysis today

Today's US crude oil price is at 82.67 on the XTIUSD chart FXOpen on Tradingview. Price moves below the upper band line on the daily timeframe.

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

On the other hand, the MA 50 formed an ascending channel above the lower band line indicating bullish sentiment in the long term. This could be a dynamic support line in an uptrend market.
The RSI indicator is at level 65, the price is moving above the uptrend level. RSI is a leading indicator that confirms signals before a trend is formed.

On H1, oil prices move near the upper band line. Here the bullishness seems to be fading a bit. However, the Bollinger band structure still forms an upward channel with expanding bands indicating increasing market volatility.

MA 50, which is a lagging indicator, forms a flat channel above the lower band, indicating a sideways market with bullish potential.
The RSI indicator shows level 68, the price is now moving above the uptrend level in this timeframe.

Support and resistance

In the short term, support zone-based middle band line at roughly 82.15 and based MA line at roughly 81.50. Next support-based lower band line at roughly 81.20.
In the long term, support zone based middle band line at roughly 80.50, based MA line at roughly 78.30, and based lower band at roughly 76.90. Meanwhile resistance upper band line at roughly 83.50.

 

[fxoday]

Hello everyone, have a nice day, I hope this week's trading all traders achieve abundant profits.

The price of US crude oil will rise to a new high in 2024. It appears that the price is forming a bullish candle with shadows on the top and bottom of the candle. The price briefly reached 83.98 before finally turning around at 83.47.

According to a Reuters survey as reported by Oilprice, OPEC output in March decreased. Based on the survey data, OPEC output for March was at 26.42 million barrels per day on average, compared to 50,000 bpd for February

XTIUSD technical analysis

US crude oil price is now trading at 83.47 according to XTIUSD chart FXOpen in Tradingview. It seems that prices have continued their bullishness since the beginning of this week.

On a Daily timeframe, the price moves near the upper band line. Here the Bollinger band line forms an upward channel with a slightly expanding band indicating increased volatility.

The 50 MA above the lower band line is still forming an upward channel, indicating that bullish sentiment still has the potential to rise.

The RSI indicator shows level 67, meaning the price is moving above the uptrend level.

On the H1 timeframe, US crude oil prices are traded between the upper and middle band lines. It appears that the price is consolidating after the rally.

Bollinger bands form a slight upward channel in this time frame, indicating a market uptrend with slightly expanding bands, indicating increased market volatility.

MA 50 forms an ascending channel coinciding with the lower band line.

The RSI indicator shows level 58, meaning the price is moving above the uptrend level.

Support and resistance

The closest support zone is based on the middle band line at roughly 83.15, a break of this level might bring the price to look for new support near the lower band at roughly 82.50.

Resistance zone-based upper band at roughly 84.00 level price. Breaking this level allows the price to search for a new high of 85.00

 

[fxoday]

Hello everyone, bright day, I hope all traders today are always healthy and happy

Today's market US crude oil price appears to be rising at the price level of 84.59 forming a new high at 85.04.

According to Oilprice, the oil rally was caused by a decline in United States crude oil inventories this week by 2.286 million barrels for the week ending March 29. Analysts expected a 2 million barrel drop in inventories. In the previous week, crude oil inventories amounted to 9.337 million.

XTIUSD technical analysis today

The price of US crude oil rose and reached a new high level at 85.04. Yesterday's price formed a low of 83.36 and a high of 85.04 with an almost shadowless bullish candlestick.

On the daily timeframe, oil prices move near the upper band line. Here the Bollinger band line forms an upward channel with an expanding band indicating increasing market volatility.
The 50 MA between the lower and middle bands forms an ascending channel giving an uptrend signal.
Meanwhile, the RSI indicator shows level 69, meaning the price is above the uptrend level near the overbought zone.

On the H1 timeframe, US crude oil prices move near the middle band line which is a consolidation zone.
Here the Bollinger band indicator appears to be narrowing, indicating reduced volatility.
The 50 MA below the lower band forms an upward channel indicating bullish sentiment.
The RSI indicator shows level 57, meaning the price is above the uptrend level.

Support and Resistance

In the short term, the support zone-based lower band at roughly 84.00 and based MA line at roughly 83.75. A resistance-based upper band at roughly 85.00.

In the long term, support zone-based middle band at roughly 81.20, based MA line at 78.87, and based lower band at roughly 77.60. Currently, the price is moving in the resistance zone based on the upper band line at 85.00. A break of this price level may bring oil prices higher looking for a new high of 86.00.

 

[fxoday]

Hello everyone, have a nice day, I hope all FPA community members are always healthy and happy

Today's US crude oil price is trading at 85.14 moving within the previous price range. Price is still moving near the upper band line with a small candle body.

Oil prices are still tightening, one of the reasons is that the OPEC+ group continues to cut oil production output at least the end of the first half of 2024. This decision was conveyed by the Joint Ministerial Monitoring Committee (JMMC) at its meeting on Wednesday.

The panel did not recommend any changes to current production levels.

Elsewhere, Bank of America revised its oil forecast, boosting its price forecast for this year to average $86 per barrel and peak this summer at $95 per barrel for UK Brent oil. Previously they predicted a price level of $80. On WTI oil they also boosted the forecast to $81 as before the forecast was $75.

XTIUSD technical analysis today

Today's US crude oil price is trading at 85.14, yesterday the oil price touched a high of 85.65.

On the daily timeframe, US crude oil prices move near the upper band line. Prices are still moving in the previous range and are still forming small candles at the time of writing.
The Bollinger band line structure forms an upward channel with expanding bands indicating an uptrend market with high volatility.
The 50 MA is above the lower band drawing an upward channel indicating bullish sentiment on oil in the long term.
Meanwhile, the RSI indicator shows level 71, meaning the price is in the overbought zone.

On H1 timeframe, oil prices move flat, here Bollinger band squeeze appears reflecting prices with low volatility waiting for a breakout.
MA 50 below the lower band forms an upward channel indicating an uptrend market. And RSI at level 50 shows the price is moving in the neutral zone.

Support and resistance

Prices are still moving within the previous daily range with a high of 85.65 and a low of 84.34. Candlesticks reflect market indecision after a rally.
The possible resistance zone if there is a breakout of the high level is 86, while the support based middle band is at roughly 81.72.

 

[fxoday]

Hello everyone, have a nice day, Friday at the weekend, there is still hope left before the market closes

US crude oil prices continued rising by forming a new high of 86.70 in yesterday's trading after falling from 84.19.

According to Oilprice, the surge in oil prices was triggered by the UAE cutting off diplomatic relations with Israel. Israeli media reported, "The United Arab Emirates (UAE) has announced the suspension of diplomatic coordination with Israel following the death of seven World Central Kitchen humanitarian workers in Gaza."

At the same time, Iran's threat to Israel increased after the Israeli attack on the Iranian embassy in Damascus. Heating geopolitical pressure is thought to have influenced oil prices to soar with Brent oil reaching $90 and US crude reaching 86.70.

XTIUSD technical analysis today

The price of US Crude oil has again reached its highest price in 2024. A bullish trend in oil prices began to appear from the valley point of 67.95 which occurred at the end of 2023.
Even though the fluctuating oil upward trend started from that time, market volatility always forms waves of ups and downs. If you draw a trend line, currently the price tends to be in bullish sentiment.

On the daily timeframe, oil prices move near the upper band line, here the Bollinger band appears to be expanding, indicating increasing market volatility.
MA 50 formed an ascending channel below the middle band line indicating bullish sentiment
On the other hand, the RSI indicator shows level 74, which means the price is in the overbought zone.

On the H1 timeframe, the price is consolidating and forming a flat channel after yesterday's rally. Here the Bolinger band squeeze appears waiting for a breakout.
The 50 MA is slightly below the price forming a slight rising channel indicating that the price tends to move on the upper side.
The RSI indicator is at level 67, meaning the price is moving above the uptrend level near the overbought zone.

Support and resistance

Based on price history the support zone is near 84.00 and 85 as median support. While the highest price of 86.70 could be first resistance, a break of this value will bring oil prices up possibly reaching 87.50