Thread: Oil
The WTI crude oil dipped more than 140 pips on Tuesday after Saudi Arabia announced it would perform a “responsible role” in energy markets. Saudi Arabia says that it will keep markets supplied despite its booming insulation over the murder of Saudi journalist Jamal Khashoggi, and there are indications that crude shipping from the Middle East is growing.
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The technical landscape is little changed from yesterday after prices put in a second Doji candlestick below support-turned-resistance at $89.59, the June 27 wick low, pointing to indecision and hinting bullish momentum may be fading
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Oil today's technical analysis is Bullish.
1. Resistance Level: 72.46
2. Resistance Level:72.69
3. Resistance Level: 73.01
1. Supporting Level: 71.78
2. Supporting Level: 71.41
3. Supporting Level: 71.11
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Near-term bulls from 85.20, continue to drive the oil price higher, as break above yesterday’s high at 88.61, looks for test of 90.31/85.20 decline at 89.00. Prevailing positive tone on lower timeframes is reinforced by daily indicators move into positive territory that opens way for test of upper boundaries of near-term 84.05/90.31 range.
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Oil has really headed up strongly. It is very surprising therefore that USD has not fallen at all in this time. I think that something is not quite right - it may be the american holiday, but it seems that everything is out of sync - at least today. I think oil will continue to rise.
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Oil today trend is bullish trend
Resistance and supporting level today is:
Resistance level first: 72.35
Resistance level 2nd : 72.63
Resistance level 3rd: 73.89
Supporting level first: 71.69
Supporting level 2nd: 71.41
Supporting level 3rd:71.11
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we can notice from the chart that the pair has closed it's daily candle under 88 , that's mean the down trend is expected and the pair might head to 91 then 93 , however the pair made a hourly correction
The recent rally in the stock market might continue to pull up oil prices. In the near future, I still think that WTI price will remain around $85-$90 mark
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Technical analyse Oil
today current rate Oil : 112.09
Resistance lever 1 >112.15
Resistance lever 2 > 112.21
Resistance lever 3 > 112.31
Support lever 1 > 112.02
Support lever 2 > 111.97
Support lever 3 > 111.93
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WTIBlack gold tends to slide testing 93.90 / 70 USD / barrel, the breakthrough opens the potential for 92.80 / 60 USD / barrel ... possible combination of negative ISM service sector on Wednesday and Friday nonfarm Payrolls negative potential direction of the opening $ 90.00 / barrel .
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Oil today's technical analysis is Bullish .
1. Resistance Level: 72.33
2. Resistance Level:72.81
3. Resistance Level: 73.26
1. Supporting Level: 71.49
2. Supporting Level: 71.03
3. Supporting Level: 70.59
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