WTI The last rejection on 10/7/24 occurred after Oil went far beyond the UBB. Oil repeated a similar price action last week. TA derives from statistics and probability; traders must determine the odds.

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WTI The spaghetti-like D1 SMA implies the price action has been a consolidation despite the strong rebound. This inherent nature will determine how Oil plays out next.

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WTI [D1] The following week's outlook: Technicals will likely play a critical role. Since 8/12/24, the D1 200 SMA [red] has rejected Oil's advances twice. Will history repeat itself this time? image

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WTI [W1] The weekly outlook: Oil will likely retest TL-043023. If this scenario were to play out, a retracement would occur first. The timing for both events is fluid, though. image

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WTI [D1] Most traders use volumes in TA; I use Relative Volumes instead. While the last two D1 plunges of US Oil were accomplished with surging volumes, the recent Three Black Crows had dwindling liquidity. This may spell hidden troubles for the ...

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Oil falls on easing geopolitical tensions, China demand outlook Oil falls on easing geopolitical tensions, China demand outlook | Reuters

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Japan’s Economy Shrinks Unexpectedly, Hit by a Weak Yen and Rising Inflation The economy contracted 1.2 percent as consumers and businesses were hit with rising import prices. Japan’s Economy Shrinks Unexpectedly, Hit by a Weak Yen and Rising ...

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