US Crude Oil: Key Bullish Levels and Fibonacci Insights

US Crude Oil: Key Bullish Levels and Fibonacci Insights
Analysis:

The chart provided is a 4-hour timeframe of US Crude Oil (WTI) with various indicators and annotations. The chart shows price action, Smart Money Concepts (SMC), and Fibonacci retracement levels.

Price Action and SMC:

Change of Character (ChoCH): Multiple ChoCH points are marked, indicating shifts in market structure.

Break of Structure (BOS): BOS points are also marked, showing significant breaks in the market structure.

Support and Resistance Levels: Key levels are marked at 74.98, 74.64, 72.52, 71.37, 70.95, and 70.01.

Fibonacci Retracement:

The Fibonacci retracement levels are drawn from a recent swing low to swing high.

Key Fibonacci levels are 0.382 (74.03804), 0.5 (73.71), 0.618 (73.38196), and 0.786 (72.91492).

Volume Profile:

The volume profile on the right side shows high trading activity around the 70.01 level, indicating strong support.

Relative Strength Index (RSI):

The RSI is currently at 67.65, indicating that the market is approaching overbought conditions but still has room for upward movement.

Buy Strategy:
Entry: 74.00 (near the 0.382 Fibonacci level)
Take Profit 1 (TP1): 75.10 (110 pips)
Take Profit 2 (TP2): 76.00 (200 pips)
Stop Loss (SL): 73.00 (100 pips)

Sell Strategy:
Entry: 72.50 (near the 0.786 Fibonacci level)
Take Profit 1 (TP1): 71.50 (100 pips)
Take Profit 2 (TP2): 70.50 (200 pips)
Stop Loss (SL): 73.50 (100 pips)

VIP Signal
Buy:
entry 74.00 tp1 75.10 (110 pips) tp2 76.00 (200 pips) sl 73.00 (100 pips)
Sell:
entry 72.50 tp1 71.50 (100 pips) tp2 70.50 (200 pips) sl 73.50 (100 pips)
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This analysis integrates Price Action, Smart Money Concepts (SMC), and ICT Elliott Wave strategies to provide detailed buy and sell strategies. The Fibonacci retracement levels, volume profile, and RSI indicators highlight key areas of interest for optimal trading decisions.

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Alexgoldhunter

Alex Gold Hunter

Free Signals & analysis
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tinyurl.com/ClassicFreeSignals

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