USOIL/ XTIUSD SHORT/SELL
🔰 Pair Name : XTIUSD
🔰 Time Frame : 4hrs/ Daily
🔰 Scale Type : Long Scale
🔰 Direction : Short/ Sell
As a professional trader, I would like to highlight the key resistance levels for WTI crude oil. The primary resistance areas are located at $80.00, within the daily supply zone, and at $77.30, represented by the 200-day moving average (MA).
Conversely, crucial support levels can be identified at $75.00 and $72.50, which form the weekly market imbalance area below.
Upon analyzing the daily chart, it is evident that the bulls are currently testing the 200-day moving average in conjunction with the channel resistance, specifically around the $77.2 price area. This particular resistance has proven significant since August 2022. Additionally, the Relative Strength Index (RSI) is approaching overbought levels, signalling a potential pullback, akin to the price action observed in early April. Consequently, traders should closely monitor the psychological handle of $75.00 as a pivotal level from a bearish perspective.
Meanwhile, bullish traders will be eager to witness a confirmation close above the critical resistance zone, as this could signal a potential move towards the $80.00 level.
In conclusion, as professional traders, it is essential to attentively observe these price levels and market indicators to make well-informed trading decisions, capitalise on potential opportunities, and exercise caution in the face of potential risks.
🔰 Time Frame : 4hrs/ Daily
🔰 Scale Type : Long Scale
🔰 Direction : Short/ Sell
As a professional trader, I would like to highlight the key resistance levels for WTI crude oil. The primary resistance areas are located at $80.00, within the daily supply zone, and at $77.30, represented by the 200-day moving average (MA).
Conversely, crucial support levels can be identified at $75.00 and $72.50, which form the weekly market imbalance area below.
Upon analyzing the daily chart, it is evident that the bulls are currently testing the 200-day moving average in conjunction with the channel resistance, specifically around the $77.2 price area. This particular resistance has proven significant since August 2022. Additionally, the Relative Strength Index (RSI) is approaching overbought levels, signalling a potential pullback, akin to the price action observed in early April. Consequently, traders should closely monitor the psychological handle of $75.00 as a pivotal level from a bearish perspective.
Meanwhile, bullish traders will be eager to witness a confirmation close above the critical resistance zone, as this could signal a potential move towards the $80.00 level.
In conclusion, as professional traders, it is essential to attentively observe these price levels and market indicators to make well-informed trading decisions, capitalise on potential opportunities, and exercise caution in the face of potential risks.
Dagangan aktif
Nota
Nota
XTIUSD potentially finished liquidity grab
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.