Discover how to profit from the current rally in crude oil prices driven by a weak dollar. RSI, 1-2-3 reversal pattern, Symmetrical Triangle, and pivot points all point toward bullish momentum. Trading chart for us to visualize the bullish targets and price momentum. The driving force behind this rally Undoubtedly, the driving force behind the Read More…
Meet Julian, a skilled trader from Argentina who resides in beautiful Ghent, Belgium. Julian’s trading style is that of a scalper, where he trades e-mini contracts such as the S&P 500 and Crude Oil, utilizing 5-minute and 1-hour charts. His expertise in this field has led him to achieve a significant milestone in his trading Read More…
US retail sales fell by 1.1% last month, the largest drop since December 2021. US manufacturing output decreased more than forecast in December. US crude oil stockpiles increased by around 7.6 million barrels last week. The price of oil futures dropped by as much as $1 on Thursday due to concerns about the impending recession. Read More…
Looking at the triangle pattern on the daily chart and potential targets. Heavy bearish divergence spotted on the hourly chart. Daily Outlook There is one main technical pattern we can look at on the daily chart for CL. That is the triangle pattern in which crude is trading at the top of its range which Read More…
China’s oil demand forecast has brightened. There are worries about the impact of sanctions on Russian crude production. Crude stockpiles increased by 19.0 million barrels last week. Although increases were modest ahead of incoming inflation data from the United States, oil prices increased on Thursday, adding to gains from the previous session as China’s demand Read More…
CL suffers a 9% decline in just two days, as suspected. Analyzing the order block responsible for multiple price rejections at $81.55. Evaluating the differences between time-based and range charts in a trending market. Quick Recap Before the end of the year, we looked at possible bearish targets around $67.98. CL dipped from $75 to Read More…
