Last year we saw the oil price plummet to levels as low as $10.35 a barrel. This was due to the breakout spread of the corona virus which saw the world come to a shutdown. This drastically affected economies and especially the oil market. XTIUSD daily chart 8 Janauary 2020 Learn how to trade Since […]
For a certain period of time, we saw the XTIUSD move bullish and break past the previous higher highs. In the previous analysis (https://fxsits.com/the-oil-price-action-shows-promising-bullish-action/). Price traded at level 45.74 before breaking past level 46.69. where it moved as high as 49.33 . Where the XTIUSD finds resistance . XTIUSD Daily chart 22 December 2020 Learn […]
We last reported on the oil price action on the 12th of November. In that post we mentioned the likely hood of price breaking past its higher high. Which was previously set at level 43.83 .Fast forward into today’s price action. We can see price has long broken past that level and now trades comfortably […]
A few days ago we sent out a signal concerning the oil price action . In that post (https://fxsits.com/the-xtiusd-price-action-finds-support-after-bearish-fall/), we spoke about the possibilities of bullish price action towards certain levels. Level 39.30 and 41.58 was broken past with ease as price found resistance at its higher high at level 43.83 XTIUSD daily chart 12 […]
In the past weeks we’ve seen the oil market plummet bearish. Yesterday’s candles close signaled different. The XTIUSD price action dropped to level 34.87 and found support. From this level we see price move bullish after that. The question we ask now is. Will price continue this bearish run? XTIUSD Daily Chart 3 November 2020 […]
For months now you may have noticed the inconsistent movement of the XTIUSD pair. The pair has been ranging for a very long time now. We’ve seen price range in between levels 41.58 and 36.81 .Now with price action currently trading at 39.30 .Because the XTIUSD falls short we wonder whether price will find support […]
For sometime now we’ve seen how the XTIUSD trades at level 41.58 .In the past weeks we’ve seen price fail to break past this level on 2 different occasions. Thus, confirming that we are trading a range bound market . With price trading in between level 36.80 and level 41.58 where price currently trades. XTIUSD […]
For sometime now sellers have pushed the oil market bearish. These past few weeks we saw oil buyers struggle to regain bullish momentum as the market pulled back. Prices dropped and only managed to find support at level 36.80 .It is at this level that we see bullish price action. Thus, giving us confirmation that […]
The past weeks have been a very volatile period for the oil. We saw the oil dramatically drop approximately 730 pips in a space of 2 weeks. In our previous post(https://fxsits.com/texas-oil-finds-resistance/). We wrote about where we thought price was headed after failing to break past the 2020 high. XTIUSD H4 chart 16 September 2020 Learn […]
