🔶 WTI CRUDE OIL UPDATE
👉 WTI crude oil is currently trading around 89.00, after a strong rebound during the Asian session
👉 The upward move is driven by supply concerns after the U.S. military announced a full blockade of the Strait of Hormuz, which has increased pressure on global supply. At the same time, uncertainty surrounding upcoming negotiations between the U.S. and Iran continues to create mixed sentiment, maintaining volatility in the market.
📌 Technical Outlook
👉Buyers stepped in as price dropped to the key level around 86.00, pushing it back up toward 89.00
👉EMA 34 crossing below EMA 89 signals short-term bearish pressure
👉A bearish Elliott Wave structure is forming, reinforcing the downside correction scenario
Overall market structure remains neutral to bearish in the short term🔽
Personal opinion:
👉News of further negotiations puts downward pressure on oil prices. However, no concrete information has emerged yet.
👉The key level around 86.00 will be a strong support zone if the price is pushed down again. The price will fluctuate around 86.00-92.00 until there is new news from the US-Iran negotiations.
Wishing you a successful trading day!
👉 WTI crude oil is currently trading around 89.00, after a strong rebound during the Asian session
👉 The upward move is driven by supply concerns after the U.S. military announced a full blockade of the Strait of Hormuz, which has increased pressure on global supply. At the same time, uncertainty surrounding upcoming negotiations between the U.S. and Iran continues to create mixed sentiment, maintaining volatility in the market.
📌 Technical Outlook
👉Buyers stepped in as price dropped to the key level around 86.00, pushing it back up toward 89.00
👉EMA 34 crossing below EMA 89 signals short-term bearish pressure
👉A bearish Elliott Wave structure is forming, reinforcing the downside correction scenario
Overall market structure remains neutral to bearish in the short term🔽
Personal opinion:
👉News of further negotiations puts downward pressure on oil prices. However, no concrete information has emerged yet.
👉The key level around 86.00 will be a strong support zone if the price is pushed down again. The price will fluctuate around 86.00-92.00 until there is new news from the US-Iran negotiations.
Wishing you a successful trading day!
Trade ativo
the plan still on track The key level around 86.00 remains stable.
Trade fechado: objetivo atingido
Update: WTI WTI prices remain stable within a sideways range between 86.00 and 92.00, showing no clear directional bias at the moment. Although there is a mix of conflicting news in the market, none of it has been fully confirmed, keeping sentiment uncertain. Investors are largely staying cautious as they await further developments, particularly regarding a potential agreement between the United States and Iran or any new announcements that could provide clearer direction.
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.