How To Make Money Today: WTI CRUDE OIL Daily Market Analysis and Forex Trading Signals 28 January 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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OIL: 

On the Weekly, with price approaching the resistance of the stochastics indicator, signifying an upcoming bearish momentum. We can expect price to drop from our 1st resistance at 92.95 in line horizontal graphical overlap and 127.2% Fibonacci extension towards 1st  support in line with horizontal overlap support ,161.8% Fibonacci extension level at 86.84. Alternatively, price may break 1st resistance structure and head for 2nd resistance, which coincides with 161.8% Fibonacci extension at 99.62. 

On the Daily, we expect a potential bounce from our 1st support at 88.50 in line with 50% Fibonacci retracement towards our 1st resistance at 92.14 in line with 127.2% Fibonacci projection. Alternatively, price may break 1st support structure and head for 2nd support at 85.18 in line with the 23.6% Fibonacci retracement level. Prices are trading above our ichimoku clouds, further supporting our bullish bias.

On the H4, with price reversing off the resistance on the stochastics indicator, signifying an overall bearish momentum. We can expect price to drop from our 1st resistance at 90.84 in line horizontal graphical swing high resistance and 127.2% Fibonacci extension towards 1st  support in line with horizontal overlap support ,38.2% Fibonacci retracement level at 85.53. Alternatively, price may break 1st resistance structure and head for 2nd resistance, which coincides with 200% Fibonacci extension level at 93.57. 

Areas of consideration:

  • H4 time frame, 1st resistance of 90.84
  • H4 time frame, 1st support of 85.53
wti oil technical analysis

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