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Oil

What 1-hour chart says? Fundamental Development: Oil prices dropped on Monday, extending a recent losing streak on concerns that an expected rise in U.S. interest rates would weaken fuel demand. Brent crude futures for September settlement had fallen 67 cents, or 0.7%, to $102.53 a barrel, down for a fourth day. U.S. West Texas Intermediate (WTI) crude futures for September delivery slid 77 cents, or 0.8%, to $93.93 a barrel, also down for a fourth day. Oil futures have been volatile in recent weeks, as traders have tried to reconcile the possibilities of further interest rate hikes, which could limit economic activity and thus cut fuel demand growth, against tight supply from disruptions in trading of Russian barrels because of Western sanctions amid the Ukraine conflict. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 95 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 95 to 95.25 and there is very strong resistance zone at 97.25. Alternative Scenario: If XTIUSD will trade above 97.25 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 98.75 with the stop loss of 96.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices climbed in Asia trading on Friday, rebounding from previous declines amid supply tightness and geopolitical tensions, even though weakened demand in the United States has cast a shadow on the market this week. Brent crude futures raised $1.61, or 1.6%, to $105.47 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained $1.43, or 1.5%, to $97.78 a barrel. WTI has pummeled over the past two sessions after data showed that U.S. gasoline demand had dropped nearly 8% from a year earlier in the midst of the peak summer driving season, hit by record prices at the pump. In contrast, signs of strong demand in Asia propped up the Brent benchmark, putting it on course for its first weekly gain in six weeks. Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 96.50 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 97.50 to 97.75 and there is very strong resistance zone at 100. Alternative Scenario: If XTIUSD will trade above 100 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 102 with the stop loss of 98.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices fell on Thursday for a second straight session, as demand concerns outweighed tight global supply after U.S. government data showed tepid gasoline demand during the peak summer driving season. Brent crude futures dropped 77 cents, or 0.7%, to $106.15 a barrel by 0427 GMT after slipping 0.4% in the previous session. U.S. West Texas Intermediate crude futures fell 88 cents, or 0.9%, to $99.00 a barrel following a 1.9% drop on Wednesday. Oil prices have been volatile, as traders have had to square tighter global supply because of the loss of Russian barrels following the country's invasion of Ukraine, with recessionary worries that could weaken energy demand. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 99.50 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 99.50 to 99.75 and there is very strong resistance zone at 101. Alternative Scenario: If XTIUSD will trade above 101 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 102.55 with the stop loss of 99.55.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices edged down on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product, demand weakens. Brent crude prices for September fell 37 cents, or 0.3%, to $106.98 a barrel, while U.S. West Texas Intermediate (WTI) crude for August slipped 69 cents, or 0.7%, to $103.53 per barrel. The WTI contract will expire later on Wednesday. The more active September WTI contract was at $100.24 a barrel, down 50 cents. Oil prices whipsawed in the previous session, caught in a tug-of-war between supply fears due to Western sanctions on Russia and pressures on indications from central bankers that they will raise interest rates to combat inflation. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 98.86 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 98 to 97.75 and there is very strong support zone at 96. Alternative Scenario: If XTIUSD will trade below 96 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 94.55 with the stop loss of 97.55. ( Note- Crude Oil Inventory Data Time : 8:00 pm IST )
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil prices ran out of steam on Tuesday after gaining more than $5 a barrel in the previous session with concerns that surging crude will feed into a demand-killing recession slightly outpacing continued worries about tight supply. Brent crude futures for September settlement fell 43 cents to $105.84 a barrel. The contract rose 5.1% on Monday, the biggest percentage gains since April 12. WTI crude futures for August delivery dipped 28 cents to $102.32 a barrel. The contract climbed 5.1% on Monday and the largest percentage gain since May 11. The August WTI contract expires on Wednesday and the more actively traded September future was at $98.98 a barrel, down 44 cents. Short Term Technical View: In 1-hour chart, XTIUSD is trading above upper line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 97.55 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 97.55 to 97.25 and there is very strong support zone at 95.55 Alternative Scenario: If XTIUSD will trade below 95.55 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 93.55 with the stop loss of 97.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement rose 69 cents, or 0.7%, to $101.85 a barrel, after a 2.1% gain on Friday. U.S. West Texas Intermediate (WTI) crude futures for August delivery edged up 27 cents, or 0.3%, to $97.86 a barrel, after climbing 1.9% in the previous session. The U.S. dollar retreated from multi-year highs on Monday, supporting prices of commodities ranging from gold to oil. A weaker dollar makes dollar-denominated commodities more affordable for holders of other currencies. Short Term Technical View: In 1-hour chart, XTIUSD is trading above upper line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 94.52 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 94.52 to 94.25 and there is very strong support zone at 92.52 Alternative Scenario: If XTIUSD will trade below 92.52 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 90.52 with the stop loss of 94.
FXOPEN:XTIUSD
by RATONYCNC
USOIL CRUDE OIL US oil overall trend is still bearish, but counter trend pull back rally is now due, not only due but it's now ready to go towards north directions Buy on Dips is suggested, all the key levels are mentioned on chart Overall running wave structure Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
TVC:USOILLong
by RK_Chaarts
6
What 1-hour chart says? Fundamental Development: Oil was down on Wednesday morning in Asia while investors looked toward U.S. inflation data that could weaken the market. Brent oil futures inched down 0.01% to $99.47 and crude oil WTI futures edged down 0.13% to $95.72. Investors now await U.S. Consumer price index (CPI) for more clues on the U.S. Federal Reserve’s monetary policy path, which is due later in the day. Analysts predicted that the print would hit a 40-year high in June from a year earlier, the largest jump since 1981. Investors are worried that aggressive interest rate hikes to tame inflation will spur an economic downturn that will hit oil demand. Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 95.75 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 93.75 to 93.55 and there is very strong support zone at 91.55 Alternative Scenario: If XTIUSD will trade below 91.55 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 89.55 with the stop loss of 93.55.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil was down on Tuesday morning in Asia as demand concerns spurred as China discovered cases of highly infectious BA.5 omicron sub-variant. Brent oil futures retreated 1.56% to $105.43 and crude oil WTI futures fell 1.67% to $102.34. “Growing fears of a recession and continued sluggish demand in China is pulling oil prices lower, though the current supply-demand balances remain precarious,” Several Chinese cities are adopting fresh COVID -19 curbs to rein in new infections as the country has detected highly infectious BA.5 sub variant cases. On the supply side, Western sanctions on Russia over its invasion of Ukraine have disrupted crude and fuel supply. There have been curtailments of energy supply routes from Russia, which concerns traders and utilities. Short Term Technical View: In 1-hour chart, XTIUSD is trading below lower line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 101 as per today 1-hour chart, my view is sell in rise strategy is good for XTIUSD. Sell range of XTIUSD is 101 to 101.25 and there is very strong Resistance zone at 102.50. Alternative Scenario: If XTIUSD will trade above 102.50 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 104 with the stop loss of 101.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices fell on Monday in volatile trade, reversing some gains from the previous session as markets braced for new mass COVID testing in China potentially hitting demand, a worry that outweighed ongoing concerns about tight supply. Brent crude futures fell $1.02, or 1%, to $106.00, after climbing 2.3% on Friday. U.S. West Texas Intermediate (WTI) crude futures declined by $1.38, or 1.3%, to $103.41, paring a 2% gain from Friday. Trading was thinned by a public holiday in parts of Southeast Asia, including oil-trading hub Singapore. The market remains jittery about plans by Western nations to cap Russian oil prices, with President Vladimir Putin warning further sanctions could lead to "catastrophic" consequences in the global energy market. Short Term Technical View: In 1-hour chart, XTIUSD is trading below lower line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 101.50 as per today 1-hour chart, my view is sell in rise strategy is good for XTIUSD. Sell range of XTIUSD is 101.50 to 101.75 and there is very strong Resistance zone at 102.97. Alternative Scenario: If XTIUSD will trade above 102.97 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 105.45 with the stop loss of 101.51.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices edged slightly higher in volatile Asian trade on Friday, reversing earlier losses as the market weighed up the tight global supply concerns against recession fears. Brent crude futures rose 48 cents, or 0.5%, to $105.13 a barrel by 0630 GMT, after a near 4% rise on Thursday. U.S. West Texas Intermediate crude inched up 3 cents to $102.76 a barrel, having settled 4.2% higher a day earlier. However, both contracts are still set for their second straight weekly loss. Trade this week marked by a sharp sell-off on Tuesday, when WTI slid 8% and Brent tumbled 9%. Brent's $10.73 drop was the third biggest for the contract since it started trading in 1988. Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 98 As per today 1-hour chart, my view is buy in deep strategy is good for XTIUSD. Buy range of XTIUSD is 98 to 97.85 and there is very strong support zone at 96. Alternative Scenario: If XTIUSD will trade below 96 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 93 with the stop loss of 98.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil was up on Thursday morning in Asia on supply concerns, after falling during the previous two sessions. Brent oil futures rose 0.51% to $101.20 and crude oil WTI futures jumped 0.56% to $99.11. Both benchmarks closed on Wednesday at their lowest since April 11. The declines follow a dramatic fall on Tuesday despite tight global supplies. Oil prices have slid alongside other commodities such as metals and palm oil as global central banks hiked interest rates, which spurred fears of a recession that could dampen demand for commodities. For the supply side, investors are assessing possible oil supply disruption at the Caspian Pipeline Consortium (CPC), which has told by a Russian court to suspend activity for 30 days. Exports at CPC, which handles about 1% of global oil supplies, were still flowing as of Wednesday morning. Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 95.95. As per today 1-hour chart, my view is buy in deep strategy is good for XTIUSD. Buy range of XTIUSD is 94.25 to 94 and there is very strong support zone at 92.45. Alternative Scenario: If XTIUSD will trade below 92.45 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 89 with the stop loss of 94.
FXOPEN:XTIUSD
by RATONYCNC