📊 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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