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Oilforecast

What 1-hour chart says? Fundamental Development Oil prices fell on Thursday as investors cashed in on a recent rally ahead of a key producers meeting later in the day, with some speculation that Saudi Arabia may boost oil production in response to urging by the United States. Brent crude was down $2.08, or 1.8%, at $114.21 a barrel, having risen 0.6% the previous day. U.S. West Texas Intermediate (WTI) crude dropped $2.25, or 2.0%, to $113.01 a barrel, after a 0.5% rise on Wednesday. The benchmarks have marched higher for several weeks as Russian exports have squeezed by EU and U.S. sanctions against Moscow over its invasion of Ukraine, actions that Russia calls a "special operation". The Wall Street Journal reported on Tuesday that some OPEC members were considering suspending Russia from the agreed production plan, to allow other producers to pump significantly crude, as sought by the United States and European nations. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. RSI indicator is showing weakness in XTIUSD. As per the 1-hour chart, XTIUSD is trading below today support level 112.50. As per my view, Sell on rise is good strategy for XTIUSD, Sell range is 113 to 113.25, and there is very strong resistance zone at 115.40. Alternative Scenario: If XTIUSD will trade above 115.40 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 117.40 with the stop loss of 113.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil prices gained slightly on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lock down in Shanghai. Brent crude for August delivery was up 28 cents, or 0.2%, at $115.88 a barrel. The contract settled down 1.7% on Tuesday. The front-month contract for July delivery expired on Tuesday at $122.84 a barrel, up 1%. U.S. West Texas Intermediate (WTI) crude rose 30 cents, or 0.3%, to $114.97 a barrel. Both benchmarks ended May higher, marking the sixth straight month of rising prices. EU leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the end of this year, the bloc's toughest sanctions yet on Moscow since the invasion of Ukraine three months ago, which Moscow calls a "special military operation". Short Term Technical View: In 1-hour chart, XTIUSD is trading below lower line of Bollinger band indicator. RSI indicator is showing weakness in XTIUSD. As per the 1-hour chart, XTIUSD is trading below today pivot level 114.50. As per my view, Sell on rise is good strategy for XTIUSD, Sell range is 114.50 to 115, and there is very strong resistance zone at 116.50. Alternative Scenario: If XTIUSD will trade above 114.50 and sustain below in U.S. Session so it will be, give great opportunity to buy with the target of 116.50 with the stop loss of 113.50 .
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil prices extended gains on Tuesday after the EU agreed to slash oil imports from Russia, fueling worries of a tighter market already strained for supply amid rising demand ahead of peak U.S. and European summer driving season. Brent crude for July, which expires on Tuesday, raised $1.13 to a fresh two-month top of $122.80 a barrel. The more active August contract raised $1.34 to $118.94. U.S. West Texas Intermediate (WTI) crude futures were trading at $118.25 a barrel, up $3.18 from Friday's close. There was no settlement on Monday due to a U.S. public holiday. Both benchmarks have posted daily gains since Wednesday. European Union leaders agreed in principle to cut 90% of oil imports from Russia by the end of 2022, resolving a deadlock with Hungary over the bloc's toughest sanction yet on Moscow since the invasion of Ukraine three months ago. Short Term Technical View: In 1-hour chart, XTIUSD is trading upper line of Bollinger band indicator. RSI indicator is showing strength in XTIUSD. As per the 1-hour chart, XTIUSD is trading above resistance level (2) 117.40. As per my view, buy on dip is good strategy for XTIUSD, buy range is 116 to 115.75, and there is very strong support zone at 114.50. Alternative Scenario: If XTIUSD will trade below 114.50 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 112.50 with the stop loss of 115.75.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil prices hovered around a two-month high on Friday, with Brent crude on track for its biggest weekly jump in 1-1/2 months, supported by the prospect of an EU ban on Russian oil and the coming summer driving season in the United States. Brent crude futures for July dipped 9 cents to $117.31 a barrel after rising to as high as $118.17 earlier in the session. The benchmark was on track for a gain of about 4% this week. U.S. West Texas Intermediate (WTI) crude futures were down 18 cents, or 0.2%, at $113.91 a barrel. WTI set for a weekly gain of about 0.7%. "Ahead of peak U.S. driving season, refined products remain in alarmingly short supply in the West, which should keep a high floor on oil prices through the summer." OPEC+ is set to stick to last year's oil production deal at its June 2 meeting and raise July output targets by 432,000 barrels per day, six OPEC+ sources told Reuters, rebuffing Western calls for a faster increase to lower surging prices. Short Term Technical View: In 1-hour chart, XTIUSD is trading upper line of Bollinger band indicator. RSI indicator is showing strength in XTIUSD. As per the 1-hour chart, XTIUSD is trading above today pivot level 111.55. As per my view, buy on dip is good strategy for XTIUSD, buy range is 111.50 to 111, and there is very strong support zone at 110. Alternative Scenario: If XTIUSD will trade below 110 and sustain in U.S. Session so it will be, give great opportunity to sell with the target of 108 with the stop loss of 111.50
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil prices raised more than $1 on Wednesday, buoyed by tight supplies and the prospect of rising demand from the upcoming start of the summer driving season in the United States, the world's biggest crude consumer. Brent crude futures for July rose $1.38, or 1.2%, to $114.94 a barrel. Brent futures gained 0.1% on Tuesday and are up for a fifth day. U.S. West Texas Intermediate (WTI) crude futures for July delivery rose $1.35, or 1.2%, to $111.12 a barrel. The contract settled down 52 cents on Tuesday. Global crude supplies continue to tighten as buyers avoid oil from Russia, the world's second-largest oil exporter, amid sanctions following its invasion of Ukraine, which Russia calls a "special military operation". In China, the world's biggest oil importer, Beijing stepped up quarantine efforts to end its month-old COVID-19 outbreak, while in Shanghai, authorities plan to keep most restrictions in place this month, before a more complete lifting of the two-month-old lock down from June 1. Short Term Technical View: In 1-hour chart, XTIUSD is trading upper line of Bollinger band indicator. XTIUSD also losing strength at upper resistance level, and XTIUSD is trading below resistance level 111. As per the 1-hour chart, XTI will be test today pivot level 108.50. As per my view, sell on rise is good strategy for XTIUSD, sell range is 109.50 to 109, and there is very strong resistance zone at 111. Alternative Scenario: If XTIUSD will trade above 111 and sustain in U.S. Session so it will be, give great opportunity to buy with the target of 113 with the stop loss of 109.50.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil prices fell by more than $1 on Tuesday as concerns over a possible recession and China's COVID-19 curbs outweighed an expectation of tight global supply and a pick-up in fuel demand with the U.S. summer driving season. Brent crude futures for July fell $1.34, or 1.2%, to $112.08 a barrel. U.S. West Texas Intermediate (WTI) crude futures for July delivery dropped $1.28, or 1.2%, to $109.01 a barrel. Brent gained 0.7% on Monday while WTI settled nearly flat. Multiple threats to the global economy topped the worries of the worlds well heeled at the annual Davos economic summit, with some flagging the risk of a worldwide recession. China, the world’s largest oil importer, promises stimulus such as rolling out new investment projects. The country will offer more than 140 billion yuan ($21 billion) in additional tax relief to offset the heavy impact of lock downs on businesses. Short Term Technical View: In 1-hour chart, XTIUSD is trading lower line of Bollinger band indicator. CCI indicator also showing weakness at lower line level, and XTIUSD is trading below pivot level 108.50. As per the 1-hour chart, XTI will be test next support level 106.50. As per my view, sell on dip is good strategy for XTIUSD, sell range is 109.50 to 109, and there is very strong resistance zone at 111. Alternative Scenario: If XTIUSD will trade above 111 and sustain in U.S. Session so it will be, give great opportunity to buy with the target of 113 with the stop loss of 109.50.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil was down on Friday morning in Asia, but little changed as concerns about weaker economic growth eclipse expectations of a demand rebound in China. Brent oil futures fell 0.72% to $111.23. WTI futures fell 0.99% to $108.80 on its last day as the front-month, with futures for July down about 0.6% to $109.20. WTI futures are now set to rise for a fourth consecutive for the first time since mid-February 2022. The black liquid has seen limited gains during the past week, with the Brent and U.S. benchmarks mostly trading in a range uncertainty in demand. Investors, worried about rising inflation and tighter monetary policies from central banks, have been reducing exposure to riskier assets. An example is open interest in WTI futures, which fell to 1.722 million contracts on May 18, 2022, the lowest level since July 2016. Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. CCI indicator also showing bullishness at upper line level, and XTIUSD is trading above today pivot level 108.45. As per the 1-hour chart, XTI will be test next resistance level 112. As per my view, sell on rise is good strategy for XTIUSD, sell range is 112 to 112.35, and there is very strong resistance zone at 114.10 Alternative Scenario: If XTIUSD will trade above 114.50 and sustain in U.S. Session so it will be, give great opportunity to buy with the target of 117 with the stop loss of 112.75.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development After hitting seven-week highs, oil prices slumped 2% on Tuesday as Reuters reported that the United States could ease some restrictions on Venezuela's government, raising hopes that the market could see some additional supplies. Prices also fell after Federal Reserve Chairman Jerome Powell warned the economy could hurt by attempts to reduce inflation. Brent crude fell $2.31, or 2%, to settle at $111.93 a barrel, and U.S. West Texas Intermediate (WTI) crude fell $1.8, or 1.6%, to settle at $112.40 a barrel. Powell suggested there could be some economic pain involved in bringing inflation down. The U.S. central bank will "keep pushing" to tighten U.S. monetary policy until it is clear that inflation is declining, he said. Oil prices have generally been rising as Russian supply squeezed by bans from several countries and an economic downturn due to broad sanctions on Moscow imposed by the United States and allies. Short Term Technical View: In 1-hour chart, XTIUSD is trading middle line of Bollinger band indicator. CCI indicator also showing weakness at upper line level, and XTIUSD is trading today near pivot level 108. As per the 1-hour chart, XTI will be test next support level 106. As per my view, sell on rise is good strategy for XTIUSD, sell range is 108 to 109, and there is very strong resistance zone at 110. Alternative Scenario: If XTIUSD will trade above 110 and sustain in U.S. Session so it will be, give great opportunity to buy with the target of 111.50 with the stop loss of 109.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil was down on Tuesday morning in Asia, opening lower earlier in the session. The European Union's move to enact a ban on Russian oil imports, which would tighten global supplies, ran into opposition from member country Hungary. Brent oil futures edged down 0.18% to $114.03 and WTI futures edged down 0.20% to $111.60. Shanghai set out plans on Monday for the end of a painful COVID-19 lock down that has lasted more than six weeks, heavily bruising China's economy, and for the return of more normal life from June 1. Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 88,000 barrels per day (bpd) to a record 5.219 million bpd in June, the U.S. Energy Information Administration (EIA) said on Monday. Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. CCI indicator also showing bullishness at upper line level, and XTIUSD is trading today above pivot level 110.50. As per the 1-hour chart, XTI will be test next resistance level 114.50. As per my view, buy on dip is good strategy for XTIUSD, buy range is 111 to 110.50, and there is very strong resistance zone at 108.85. Alternative Scenario: If XTIUSD will trade below 108.85 and sustain in U.S. Session so it will be, give great opportunity to sell with the target of 106.75 with the stop loss of 110.25.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Oil was down on Monday morning in Asia, the European Union (EU)’s impending ban on Russian crude imports is driving global supply fears. Brent oil futures dropped 2.18% to $109.12 and WTI futures fell 2.04% to $106.41. Both Brent and WTI benchmarks, which jumped about 4% during the previous Friday, increased by more than $1 a barrel earlier in the session, with WTI reaching its highest level since March 28 at $111.71. Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) and allies (OPEC+), have been unable to meet previously agreed targets for output increases. This is due to under-investment in oilfields in some OPEC members and the more recent losses in Russian output. According to the cartel’s latest monthly report, OPEC’s output rose by 153,000 barrels per day (bpd) to 28.65 million bpd. This lags behind the 254,000 bpd rise that OPEC allowed under the OPEC+ deal. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. CCI indicator also showing weakness at bottom line level, and XTIUSD is trading today near pivot level 107. As per the 1-hour chart, XTI will be test next support level 105.45. As per my view, XTIUSD sell range is 107.50 to 107.75 and there is very strong resistance zone at 109.50. Alternative Scenario: If XTIUSD will trade above 107 and sustain in U.S. Session so it will be, give great opportunity to buy with the target of 108.90 with the stop loss of 106.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil prices dropped more than 1% on Thursday in a volatile week as economic concerns and recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in Europe. Brent crude futures slipped $1.25, or 1.2%, to $106.26 a barrel. WTI crude futures fell $1.24, or 1.2%, to $104.47 a barrel. U.S. headline CPI for the 12 months to April jumped 8.3%, reaffirming concerns that interest rates will need to rise quickly to tame it. On Wednesday, oil prices jumped 5% after Russia sanctioned 31 companies based in countries that imposed sanctions on Moscow after the Ukraine invasion. In the United States, commercial crude inventories rose last week because of a record release of oil from the U.S. strategic reserves, but gasoline stockpiles declined ahead of the peak summer driving demand season, the Energy Information Administration said on Wednesday. Short Term Technical View: In 1-hour chart, XTIUSD is trading Lower line of Bollinger band indicator. CCI indicator also showing bullishness at bottom line level, and XTIUSD is trying to pull back at today pivot level 102.10. As per the 1-hour chart buy on dip, strategy is good for XTIUSD. As per my view, XTIUSD buy range is 102.10 to 101.50 and there is very strong support zone at 100. Alternative Scenario: If XTIUSD will trade below today pivot level 102.10 in U.S. Session so it will be, give great opportunity to sell with the target of 100.50 with the stop loss of 103.10.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil was up on Wednesday morning in Asia, as investors await US and China economic data. Brent oil futures rose 1.99% to $104.36 and crude oil WTI futures jumped 2.27% to $101.96. Investors will be keeping an eye on China’s April factory gate prices and the US consumer –price index. A stronger dollar in particular, affects commodities like oil that priced in the currency. In addition, the oil market has shaken in recent times by Russia’s invasion of Ukraine and COVID-19 lockdowns across China. The war has fanned inflation, driving up the cost of everything from food to fuel. Retail gasoline in the US hit a record ahead of the summer driving season. The American Petroleum Institute reported US crude stockpiles rose by 1.62 million barrels last week, according to sources familiar with the data. Fuel inventories have also expanded. Short Term Technical View: In 1-hour chart, XTIUSD is trading middle line of Bollinger band indicator. CCI indicator also showing bullishness above 100 level, and XTIUSD is trading above pivot level 100.89. As per the 1-hour chart buy on dip, strategy is good for XTIUSD. As per my view, XTIUSD buy range is 101.20 to 101 and there is very strong support zone at 99.90 Alternative Scenario: If XTIUSD will trade below pivot level 100.89 in U.S. Session so it will be, give great opportunity to sell with the target of 99 with the stop loss of 102. (Note: Crude Oil Inventories data will release at 8 PM (IST)
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil was down on Tuesday morning in Asia due to demand outlook concerns as top oil importer China imposes lock downs and economic tensions rise in Europe. Brent oil futures fell 0.87% to $105.02 while crude oil WTI futures slipped 0.84% to $102.22. Financial markets are reflecting fears that sanctions on Russian oil imports after its invasion of Ukraine could put some European countries in economic distress. Global financial markets have affected by concerns over interest rate hikes and recession worries. The COVID-19 lock downs in China have already led to slower export growth in the world's second largest economy in April. Crude imports by China in the first four months of 2022 fell 4.8% from a year ago. However, April imports were up nearly 7%. Short Term Technical View: In 1-hour chart, XTIUSD is trading middle line of Bollinger band indicator. RSI indicator also showing bullishness above 50 level, and XTIUSD is trading above yesterday support level 102. As per the 1-hour chart buy on dip, strategy is good for XTIUSD. As per my view, XTIUSD buy range is 101.50 to 101 and there is very strong support zone at 99.35. Alternative Scenario: If XTIUSD will trade below support level 99.35 in U.S. Session so it will be, give great opportunity to sell with the target of 97 with the stop loss of 101.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil was up on Friday morning in Asia, recovering from an earlier drop. However, worries about an economic downturn that could affect fuel demand persisted, alongside concerns over the latest European Union (EU) sanctions against Russia. Brent oil futures rose 0.54% to $111. In addition, WTI futures rose 0.57% to $108.88. U.S. stocks tumbled, a trend that mostly followed in Asia, as investors avoided risk over worries that the U.S. Federal Reserve could hike interest rates further in 2022. The central bank hiked its interest rate to 1% on Wednesday as it handed down its latest policy decision. The Bank of England also warned on Thursday that the U.K. risks a double-whammy of a recession and inflation above 10%. The central bank hiked its interest rate to 1%, the highest since 2009, as it handed down its own policy decision. Short Term Technical View: In 1-hour chart, XTIUSD is trading middle line of Bollinger band indicator. RSI indicator also showing bullishness above 50 level, and XTIUSD is trading yesterday pivot level 107.71. As per the 1-hour chart buy on dip, strategy is good for XTIUSD. As per my view, XTIUSD buy range is 106.25 to 105.90 and there is very strong support zone at 105. Alternative Scenario: If XTIUSD will trade below support level 106.45 in U.S. Session so it will be, give great opportunity to sell with the target of 104.25 with the stop loss of 107.55
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil was up on Wednesday morning in Asia, with investors continuing to digest a draw down in U.S. crude supply that raised supply concerns. Brent oil futures rose 1.01% to $106.03 and WTI futures jumped 1.14% to $103.58. The gains came after the European Union said on Tuesday that it is mapping out fresh sanctions against Russia. The sanctions, which come in response to Moscow’s invasion of Ukraine on Feb. 24, will target Russian crude supply. Russia is the second-largest crude oil exporter globally. Tuesday’s U.S. Crude oil supply data from the American Petroleum Institute showed a draw of 3.479 million barrels for the week ended Apr. 28. Short Term Technical View: In 1-hour chart, XTIUSD is trading Middle line of Bollinger band indicator. As per today is a crude oil inventory data at 8 pm (IST) that’s why XTIUSD is trading today pivot level 102.98. As per the 1-hour chart sell on rise strategy is good for XTIUSD. As per my view, XTIUSD sell range is 104 to 104.50 and there is very strong resistance zone at 105.66. Alternative Scenario: If XTIUSD will trading above pivot level 102.98 in U.S. Session and Crude oil inventories data will show positive and RSI Indicator also trading above 50 levels so it will be give great opportunity to buy with the target of 107 with the stop loss of 101.66
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices fell on Monday in holiday-sapped trade in Asia as concerns about weak economic growth in China, the world's top oil importer, outweighed fears of potential supply stress from a looming European Union ban on Russian crude. Brent crude futures fell $1.13, or 1.1%, to $106.01 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell $1, or 1%, to $103.69 a barrel. Prices fell after China released data on Saturday showing that factory activity in the world's second-largest economy contracted for a second month to its lowest since February 2020 because of COVID lock downs. Royal Bank of Canada analysts estimated India's crude imports from Russia have grown from less than 100,000 bpd in 2021 to 800,000 bpd in April and expect India to continue ramping up imports as long as Washington does not impose secondary sanctions. Short Term Technical View: In 1-hour chart, XTIUSD is trading Lower band of Bollinger indicator, also RSI indicator showing weakness below 50 levels. Now XTIUSD is trading below today pivot level 105.54. As per the 1-hour chart sell on rise strategy is good for XTIUSD. As per my view, XTIUSD sell range is 105 to 105.35 and there is very strong resistance zone at 107. Alternative Scenario: If XTIUSD will not sustain below pivot level 105.54 in U.S. Session and RSI Indicator also trading above 50 levels so it will be give great opportunity to buy with the target of 107 with the stop loss of 104.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil was down on Thursday morning in Asia as the latest COVID-19 outbreaks and fears of more lock downs in China drove fuel demand fears. Brent oil futures slid 1.44% to $103.44 and WTI futures fell 1.36% to $100.63. The Chinese capital city of Beijing reported 48 new symptomatic and two new asymptomatic COVID-19 cases for April 27, CCTV reported on Thursday. The city began a mass testing program to avoid a lock down like the one that has been in place in Shanghai for a month. The city of Hangzhou will also conduct mass COVID testing from Apr. 28, according to state media reported on Wednesday. Short Term Technical View: As per Bollinger band indicator XTIUSD is showing strong bullishness in 1-hour chart. And RSI indicator also showing strength above 50 level It is trading near support level 100.55. As per the chart buy on the dip, strategy is good for XTIUSD. As per my view if XTIUSD trading above today pivot level 101.87 in U.S. Session so it will be give great opportunity to buy and test next resistance level 103.87 near term. There is very strong support zone below 100. Alternative Scenario: If XTIUSD will not sustain above support level 100 in U.S. Session and USD Advance GDP q/q data indicate negative so it will be give great opportunity to short sell with the target of 98.45.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices extended gains in early Asian trade on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Poland, while hopes of Chinese economic stimulus buoyed the demand outlook. Brent crude futures rose 44 cents, or 0.4%, to $105.43 a barrel. U.S. West Texas Intermediate crude futures gained 12 cents, or 0.1%, to $101.82 a barrel. Crude prices settled about 3% higher on Tuesday in volatile trade as the market torn between supply and demand concerns over Russian oil and gas disruption and a worsening global economic outlook. Short Term Technical View: As per Bollinger, band indicator XTIUSD is showing strong bullishness in 1-hour chart. It is trading above yesterday resistance level 101.75. As per the chart buy on the dip strategy is good for XTIUSD. As per my view if XTIUSD trading above 101.75 in U.S. Session and crude oil inventories data also indicate positive so it will test next resistance level 104 near term . There is very strong support zone below 100. (Note: Crude oil Inventories will release at 8 PM (IST). Alternative Scenario: If XTIUSD will not sustain above 101.75 in U.S. Session and Crude oil inventories data indicate negative so it will be give great opportunity to short sell with the target of 98.
FXOPEN:XTIUSD
by RATONYCNC
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 64.83 on 02/18/2021, so more losses to support(s) 58.65 and minimum to Major Support (54.40) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 66. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity_ME
2
💡WTI . Weekly Technical Analysis UpdateMidterm forecast: 51.60 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 51.60 on 02/01/2021, so more gains to resistance(s) 63.10, 66.50, 72.55 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 79. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
TVC:USOIL
by ForecastCity_ME
4
💡Brent Crude Oil - Weekly technical analysis updateMidterm forecast: 54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 54.40 on 02/01/2021, so more gains to resistance(s) 62.30, 66.05, 70.35 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 73. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX_IDC:USDBRO
by ForecastCity_ME
2