📊 USOIL Weekly Update
Technical View:
Not much has changed on the charts. Price remains within the expected range, waiting for a catalyst to break out.
Fundamental Highlights:
🔑 Key Levels (
USOIL WTI):
📌 Trading Strategy:
Keep alerts set for key levels; patience is key as we await clearer directional moves.
💬 Let’s discuss more in comment below!
Happy Trading,
The NFX Team™ 💚
(Earlier shared this post but got taken down due to some off-platform mention (violation) - still getting used to the TV rules :) , reposted for reference purpose.)
Technical View:
Not much has changed on the charts. Price remains within the expected range, waiting for a catalyst to break out.
Fundamental Highlights:
- Geopolitics: UKOIL Brent hit ~$71, WTI at ~$67, driven by instability following the ousting of Syria's President.
- Saudi Aramco: January crude prices for Asia slashed to early 2021 lows due to weak Chinese demand.
- OPEC+: Delayed output hikes to April 2025; cuts extended through 2026.
- U.S. Supply: Increased oil & gas rig activity adds pressure on prices.
- Natural Gas: Futures rebounded 5% to $3.147 after last week’s losses.
🔑 Key Levels (
USOIL WTI):- Bullish: Close above 21-period SMA ($72.37) targets 50-period SMA ($73.98).
- Bearish: Close below $72.00 may see a drop toward ~$70.63.
📌 Trading Strategy:
Keep alerts set for key levels; patience is key as we await clearer directional moves.
💬 Let’s discuss more in comment below!
Happy Trading,
The NFX Team™ 💚
(Earlier shared this post but got taken down due to some off-platform mention (violation) - still getting used to the TV rules :) , reposted for reference purpose.)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.