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Crude Oil

USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:USOILShort
by ShahedZare
Crude oil up tonight!Crude oil rose too much before, so it needs a technical pullback, the big trend we still insist on bullish! At present, there is a small top of the daily line signal, it has a technical retreat, will continue to rise after the retreat, the weekly line stabilization signal is very obvious, so the bulls have begun a big counterattack in the retreat is not a trend change but we once again layout multi-single opportunity! So today, oil prices should focus on the first support near 72.70
TVC:USOILLong
by the_Hand_of_God
1
WTI OIL: 1d Death Cross calls for selling but MA50 has to hold.WTI will complete a Death Cross pattern on the 1d time frame. This will be its second since September 02 2022. That pattern initiated a strong decline which was a bearish leg inside a Channel Down pattern. Oil is again trading inside a Channel Down since Sep 28 2023 and the Death Cross can be the sell call for the final leg to the 63.70 Support. We expect at least 65.00 but the 1d MA50 has to hold. On a different occassion, i.e. a candle closing over the 1d MA50, look for a buy to the 0.618 Fibonacci level at 84.50. That will be almost a +25% rise, which we've seen 4 times since the last 1d Death Cross. Follow, Like, Comment below!
TVC:USOIL
by YahooSignals
Oil tankers and cargo ships at danger in the Red SeaSince the breakout of the Israel-Hamas War on 7th October 2023, there has been an increasing number of attacks on military and transport ships sailing through the Red Sea, with Houthi rebels from Yemen standing behind many of these incidents. About a week ago, the group went as far as to announce the blockade on ships traveling to and from Israel through the Red Sea, which prompted large transportation companies to announce a pause on shipping through this particular route. The Danish shipping company, A.P. Moller Maersk, announced last Friday that it would halt all shipping via the Red Sea route following a near-miss incident involving Maersk Gibraltar on Thursday and another attack on a container ship. The next day, the Medditerean Shipping Company announced the same thing following Friday’s attack on its vessel MSC Palatium III. These two companies were quickly joined by Hong Kong based Orient Overseas Container Line, Taiwanese Evergreen, Belgian Euronav, and French CMA CGM Group, which happens to be the third-largest container shipping company in the world. Then, yesterday, the first major oil and gas transporter, British Petroleum, announced it would also halt shipments through the Red Sea. As a result, many of the mentioned cargo ships and oil tankers will have to be rerouted via alternative paths; such changes are likely to cause (some) supply chain disruptions and soaring costs for transporting goods (as well as operating expenses for the companies themselves). To resolve the situation after weeks of relentless drone and missile attacks, the United States finally announced yesterday that it would no longer tolerate Houthis’ aggression in the region and that it would form a task force responsible for protecting international waters in the Red Sea and Bab Al-Mandev Strait. As for our outlook for the oil market, it remains unchanged, with a price target of $65 per barrel in 2024. However, we are aware that the situation could deteriorate further if Iran-backed Houthis continue to ramp up their attacks in the foreseeable future (especially against U.S. warships, which has been the case recently). We will closely monitor the situation and report new developments once they arise. Illustration 1.01 Illustration 1.01 displays the daily chart of USOIL and simple support/resistance levels derived from past peaks and troughs. Technical analysis Daily time frame = Bearish (turning neutral) Weekly time frame = Bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
2
Crude oil trades around this rangeCrude oil fell last week, the weekly cross small Yang K line to stop falling and start to stabilize, after a continuous decline, a slight short-term rebound. A strong rally held the 67.70 low and established support in the previous low area. A small wave of sun line initially recovered the last big Yin K line and recovered the apex of the big Yin line. The short-term weakness will be turned into a shock, and then with the recovery of space, it will become a rebound upward, and the local formation of a long-short switch. The 4-hour chart relies on the middle rail as a bullish support to rebound, and quickly recovered the lost ground after a brief step back on Friday, while recovering the 72.0 mark, and the step fell the second high point, breaking the weak fall. Top focus on 74.7-74.5 line resistance, Focus on 71.8-71.5 first-line support below.
NYMEX:CL1!Long
by the_Hand_of_God
USOIL, Crude Oil a wedge in a Trading Range. USOIL / 1D Hello traders, welcome back to another market breakdown. Crude Oil traded lower earlier in the week after a small pullback bear trend. The bears got 3 pushes down, forming a wedge pattern. They want a retest of the June or May lows, followed by a breakout below. The bulls see the current move down simply as a bear leg within a trading range. They want a reversal from a wedge bull flag (Oct 6, Nov 16, and Dec 13) and a higher low major trend reversal. They hope to get a retest of the September high. They will need to create consecutive bull bars closing near their highs, trading far above the the trend line to increase the odds of higher prices. Crude Oil remains in a 71-week trading range. Traders will Buy Low, Sell High in trading ranges until there is a breakout with sustained follow-through buying/selling. At the moment, the market is trading near the lower third of the trading range which is the buy zone. For now, the selloff since September has lasted a long time. A minor pullback can begin at any moment. If a pullback begins, traders will see the strength of the pullback. If it remains weak and sideways, the odds of another strong leg down will increase. Trade safely, Trader Leo
NYMEX:CL1!Long
by UnknownUnicorn27919176
5
short term sell Crude oilCrude oil Gapped upon market opening due to Russia making a statement on Sunday stating they will potentially do a 50,000 Barrell cut a day for the month of December; amid Moscow suspended about 2/3 of its main export grade of crude from parts due to a storm and scheduled maintenance on Fridays. Oil gapped to 72.47 touching our first TP on the pivot point. Looking for a sell to P as I look for confirmation of which direction the market will be going this week on the 30 minute time frame price is below R! indicating a price correction another confirmation of a sell to 70.63 and breaking of the minor structure trend line. If price respects the P expect price to go to R1 and possibly R2. If prices breaks P then expect price to fall to $70.63 Looking for sell entry around 72.15 area
TVC:USOILShort
by BraxtonExchang3
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:USOILLong
by ShahedZare
CRUDE OIL (WTI): Technical Outlook & Trading Plan 🛢 Crude Oil is currently testing a solid horizontal supply area on a daily. Analyzing a 4H time frame, we can spot that the market is currently weak & consolidating. I see an example of a classic inside bar formation. 71.4 is the lower boundary of the range of the mother bar. Its breakout - a 4h candle close below will be a strong bearish confirmation. A bearish movement will be anticipated to 70.1 level then. Alternatively, a bullish breakout of the underlined resistance will push the prices higher. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
8