Technical analysis RSI: There is bullish divergence on the Relative strength index on the daily chart. Support zone: Prices are bouncing off a support zone at $66 per barrel. Bears have tried multiple times to push the price below this level, but there is a high demand for Oil at this price. This keeps CL from dropping Read More…
Oil prices fell on Wednesday due to a stronger US dollar and disappointing data from China, raising concerns about demand. Chinese manufacturing activity declined more than anticipated in May. The manufacturing purchasing managers’ index dropped to 48.8 from April’s 49.2, falling short of the expected 49.4 and resulting in a sharp decline in oil prices. Read More…
Technical analysis YM has rolled over since the most recent local top made at $34,373 from the beginning of May. We have seen a dip of 5% which is not significant, but the price action tells us the bearish momentum may still have further to go. The 200-day moving average is being tested at the Read More…
Oil prices increased by 2% on Wednesday due to a significant and unexpected decrease in US crude inventories. The Saudi energy minister’s warning about potential OPEC+ production cuts further contributed to the rise. The Energy Information Administration on Wednesday reported a substantial weekly drawdown of 12.5 million barrels, bringing US crude inventories to 455.2 million. Read More…
The trade Before we get into the new price action and the profitable trade regarding CL, take a look at the previous article to see how we entered the trade in the first place. The long has been successful so far, and it shows just how powerful it can be if we understand candlestick patterns objectively. The Read More…
Meet Karan, a talented futures trader at OneUp Trader from trader mindset. Based in California, in the United States, Karan trades the $250,000 Evaluation. He has withdrawn $17,500 so far with his aggressive scalping style.Karan primarily trades one instrument, NQ. He has become an expert in trading this popular futures contract and has an average Read More…
