Oil price Will go Down!

[Bestmary]

Yes, Shift everything fundamental and look at the chart. Looking at USOUSD, price recently moved away from the highs and is now attempting a recovery on the lower timeframes.


The current bullish movement on the daily appears to be a short-term reversal, possibly targeting liquidity above recent highs around $109.


However, zooming out, the weekly structure still leans bearish. If that higher timeframe pressure remains, there is a possibility of price rotating back down towards the $85 area.


Even if fundamentally oil is bullish, you can't ignore what you see technically

 

[BooSpaceMan]

"Even if fundamentally oil is bullish, you can't ignore what you see technically" yes you can lol. Technical indicators and "trends" are really not a thing when it comes to real world instability like a freakin .... war.

 

[navyraiser]

With these current situations it's useless to look at it with technical indications. Let's say oil will go up to a resistance area again and at the same time trump announces they will go to Iran with ground troops, you think that resistance area will hold up?

 

[RMX]

The daily bounce looks like a relief move or liquidity grab, especially if it’s pushing towards that $109 zone, but without a clear shift in higher timeframe structure, it’s hard to treat it as a full trend reversal. If the weekly bias stays bearish, this move could just be rebalancing before continuation, so it makes sense to respect the downside potential towards that $85 region while letting price confirm direction.

 

[felixw88]

Price came down from high and now trying bounce a little. Maybe can go up some more short term, but overall still look weak. I think can drop again.

 

[Bestmary]

"Even if fundamentally oil is bullish, you can't ignore what you see technically" yes you can lol. Technical indicators and "trends" are really not a thing when it comes to real world instability like a freakin .... war.

I feel you but i don't use indicators just purely chart and price action.. The real world crises is indeed infleuncial but have you seen BTC or even Gold burge to it? Before fundamentals, there is Technical because that chart is like foot print..

Although I understand the angle you are coming from but if my bias didn't go as planned, I will cut my losses shut and since I am using Bitget to trade for now, i will use the Vip westay for more protection

 

[Bestmary]

With these current situations it's useless to look at it with technical indications. Let's say oil will go up to a resistance area again and at the same time trump announces they will go to Iran with ground troops, you think that resistance area will hold up?

I don't think it is. The last time i took a short on Oil before Trump annoucement on cease fire, Nobody knew oil will fall this much but if you look at the chart, particularly the 4hr, you did see that the sign has been there all along.

I will be watching closely and still share update on the outcome. I already have a protection westay system so my losses won't be huge if price goes against me

 

[smmping]

Technical analysis can be useful in calm times, but during times of global instability you can't be too sure.

 

[RIA 377]

Given the current war situation, technical analysis often fails to fully capture the fluctuations because we don't know what might happen tomorrow; the trend could completely reverse, rising or falling in the blink of an eye. Therefore, investing at this time carries a very high risk.

 

[ads studio]

Makes sense, I’d just be careful not to get too biased in either direction. When higher timeframe is still bearish, it’s usually safer to treat lower timeframe moves as short-term opportunities, not full reversals.

 

[D IND]

Makes sense, I’d just be careful not to get too biased in either direction. When higher timeframe is still bearish, it’s usually safer to treat lower timeframe moves as short-term opportunities, not full reversals.

I THINK IT'S SERIOUSLY FOR PRICE BOOM

 

[fortunec9]

Zoom out and the weekly structure stays pretty much bearish with double top still intact, target still valid toward the $85 region.

Fundamentals can be oil-positive all they want but the higher-timeframe technical picture is what matters.

 

[Cruscate]

You could be absolutely correct, but you must not forget that technically, the volume/ price overshoot of a single candlestick can cause a great change that can affect the bias technical historical set-up. This is part of the manipulation in the game. It's a waiting game.

 

[Shaaibu]

I feel you but i don't use indicators just purely chart and price action.. The real world crises is indeed infleuncial but have you seen BTC or even Gold burge to it? Before fundamentals, there is Technical because that chart is like foot print..

Although I understand the angle you are coming from but if my bias didn't go as planned, I will cut my losses shut and since I am using Bitget to trade for now, i will use the Vip westay for more protection

Good to see another VIP holder on Bitget, even if the market will go against you, I know you're already protected by it and it is cost efficiency when active in the market

 

[Bestmary]

Good to see another VIP holder on Bitget, even if the market will go against you, I know you're already protected by it and it is cost efficiency when active in the market

To be honest, for a while , I used to think that VIP wasn't that important because obviously everyone is entitled to their risk. but looking beyond that, I just realised that not all traders are seeing the same opportunities

1. The VIP is now Tied to spaceX narrative, giving early access to investment opportunities
2. Got limited airdrop for preSpax

So apart from getting protected from my losses, I also get airdrop of new stocks that hit Bitget IPO Prime

 

[oliviarhodes]

These are times when any kind of technical analysis is completely useless, given the ongoing military operations

 

[TiKa Agency]

It's not just oil prices that are rising; I see all kinds of goods increasing rapidly, from vegetables to gold, silver, and precious metals. This change will depend on wars and politics around the world. Therefore, technology can be quite helpful during periods of stability. But currently, we need to consider things carefully ourselves.

 

[Bestmary]

Yes, Shift everything fundamental and look at the chart. Looking at USOUSD, price recently moved away from the highs and is now attempting a recovery on the lower timeframes.


The current bullish movement on the daily appears to be a short-term reversal, possibly targeting liquidity above recent highs around $109.


However, zooming out, the weekly structure still leans bearish. If that higher timeframe pressure remains, there is a possibility of price rotating back down towards the $85 area.


Even if fundamentally oil is bullish, you can't ignore what you see technically

Now see what we got here. Oil was down to $82 and now trading at $85 7 days after

 

[Bestmary]

LOl, they don't because memecoins are controlled while commodities is base on price action and fundamentals

Kind of insane how commodities seem to be trading like memecoins these days. Take a look at the precious metals charts the past few weeks as well.

 

[TJworld377]

And yet again they are about to go up