Forex Analysis & Reviews: 05.01.2022 - Trading signals for CRUDE...

05.01.2022 06:05 PM

Trading signals for CRUDE OIL (WTI- #CL) on January 05 - 06, 2022: sell below $78.12 (5/8)

In the American session, crude oil is trading around the line of 5/8 Murray located at 78.12. This level represents a range zone. In the next few days, it is likely that below 78.12 there will be some technical correction according to the eagle indicator that is showing a negative signal and the overbought market.

Since December 20, crude oil has been making a technical rebound. It has accumulated a gain of more than ,pips, which is likely to be a technical correction at least until the EMA 200 located at 74.19 in the coming days.

Oil production is expected to be restored in all exporting countries. Thus, WTI could come under downward pressure due to the increase in barrels of crude oil and oversupply, that could cause the price to fall to the psychological level of 70.00.

According to a Russian news outlet, oil production is expected to be restored to 85% in 2022, from the maximum level of cut of May / June 2020 as part of the agreement with the Organization of the Petroleum Exporting Countries and its allies (OPEC +).

OPEC and its allies agreed on Tuesday to maintain an increase in their production quota, expected to be 400,000 barrels per day of crude for February. This data is expected to put downward pressure on WTI or keep the upside limited below 78.12.

Undoubtedly, these data could be negative for crude oil and we could see a downward movement in the next few days towards the level of 74.19. If this level is broken, WTI could fall to the level of 71.88 and to the psychological level of 70.00.

Our trading plan for the next few hours is to sell below the 5/8 Murray around 78.12, targeting the 21 SMA at 76.51. If the downward pressure prevails, we could continue selling with targets at 4/8 of Murray around 75.00 and up to 74.19 (200 EMA).

Support and Resistance Levels for January 05 - 06, 2022

Resistance (3) 81.25

Resistance (2) 79.92

Resistance (1) 78.77

----------------------------

Support (1) 76.83

Support (2) 76.04

Support (3) 75.22

***********************************************************

Scenario

Timeframe 4-hours

Recommendation: sell below

Entry Point 78.12

Take Profit 76.51 (21 SMA), 75,00 (4/8)

Stop Loss 78.77

Murray Levels 75.00 (4/8), 78.12 (5/8), 81.25 (6/8)

***********************************************************

Alternative scenario

Recommendation: Sell if breaks

Entry Point 76.51

Take Profit 75.00, 74,19 (200 EMA)

Stop Loss 77.05

Murray Levels 71.88 (3/8) 68.75 (2/8)

*********************************************************

你今天已经点赞上这篇文章了

*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。

If you have any content questions, please contact editorial-board@instaforex.com

Stock Markets

该作者的更多文章

电子邮件订阅

EURUSD

Euro vs US Dollar

选择时间框架

分钟

小时

天

周

开始交易

通过InstaForex赚取加密货币汇率变动的收益。

下载MetaTrader 4并开启您的第一笔交易。

推荐文章

6月23日美國股市更新。美國股市指數漲跌互見。由於地緣政治緊張局勢，石油價格上漲。

美國股市的上升趨勢即將破裂。市場是否能維持牛市動能直到夏末呢？

在邊緣遊戲：市場能否再度忽視地緣政治？

5月17日股市：S&P 500和NASDAQ

6月17日美國股市最新情況

市場前線：通脹、飛彈及企業報告：何者將率先拖累股市？

美國市場在以色列與伊朗戰爭中的情況

5月16日股市：S&P 500和NASDAQ收低

5月13日股市：S&P 500和NASDAQ

美國市場：以色列攻擊伊朗核設施，市場下跌，石油和黃金上漲

Top analytics