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US Oil: Market Structure Shift 🚀 **US Oil: Market Structure Shift & FVG Targeting Buy-Side Liquidity!** 🚀 US Oil has been making waves in the market! 🌊 After a significant move that took out the sell-side liquidity, we've witnessed a powerful market structure shift. This pivotal change has created an exciting fair value gap (FVG) 🎯, setting its sights on the buy-side liquidity. This shift signals a potential bullish momentum 📈, providing traders with lucrative opportunities to capitalize on the market's upward trajectory. As the FVG narrows, the target on buy-side liquidity becomes clearer, making it a critical zone for traders to watch. 👀 Stay tuned and keep your eyes on US Oil as it continues to navigate through this dynamic market landscape! 🌟💹 ---
NYMEX:CL1!Long
by Asif_Brain_Waves
Oil prices can still be shorted at around 77 to make a profit. The overall trend of oil shows the closing stage of the arc top. There are still some opportunities for decline to short the oil price to make a profit. I am EDDY. Senior Financial Analysis Consultant. I have experienced the financial crisis, the stock market crash, and the market circuit breaker. The current trading opportunities in the market are much better than before. There are many trading opportunities every day. I have been observing investors in the market for a while. I can't bear to see some people in the market continue to lose money because they don't know how to trade. So I plan to continue to share my operating ideas for a while for your reference. If you are still confused about the trading market, you can continue to pay attention to my updates.
TVC:USOILShort
by Eddy_Wealth
USOIL / Bearish confirmation toward 79.49 Technical Analysis: USOIL Current Outlook: The price is expected to touch 80.70 and then consolidate between 80.70 and 81.70 until a breakout occurs. Bullish Scenario: For a bullish trend to be established, the price should reverse and stabilize above 82.27, targeting 82.25 and 84.14. There is also a possibility of a bullish retest up to 81.70. Bearish Scenario : As long as the price trades below 81.70, it will likely drop to 79.50. The price needs to break below 80.70 to confirm the bearish trend, ideally closing a 1-hour candle under this level. Key Levels: - Pivot Line: 81.22 - Support Levels: 79.49, 77.94, 75.35 - Resistance Levels: 81.72, 82.24, 84.14 Today's Expected Range: The price is anticipated to move between the support at 79.49 and the resistance at 82.15.
TVC:USOILShort
by SroshMayi
WTI Oil - 4HWTI oil completed its second bullish leg and has now formed a reversal setup. The price action shows that WTI missed the ascending channel support and is currently consolidating below the previous support zone, which has now turned into a resistance level. This suggests a potential bearish outlook as the price struggles to regain upward momentum. With the recent break of the ascending channel, it is expected that WTI may continue its downward trajectory. The consolidation under the new resistance zone indicates seller strength, and further declines could be seen if the price fails to break back above this resistance. Traders should watch for key support levels around $81 and $78 for potential buy signals or continuation of the bearish trend.
BLACKBULL:WTIShort
by Sober_Trading
WTI rebounds after larger crude drawdownAfter falling sharply in the last few days, crude oil prices were trying to form support as WTI tested its technically-important 200-day average following the release of US oil inventories data. The data showed a larger-than-expected drawdown of 3.7 million barrels on the headline front. Stocks of oil products (gasoline and distillates) and crude inventories at Cushing all showed drawdowns too. In theory, oil prices should find some support on the back of these numbers. However, with global economic data remaining soft this week, demand concerns continue to hold back oil prices. So, a clear bullish signal is needed to encourage the bulls to step back in on oil. If we see any distinct bullish reversal signals on WTI or Brent, then this would suggest that at least some buying could be on the way in the days ahead, as the previous selling pressure is potentially replaced by buying. Let’s see if that happens today. By Fawad Razaqzada, market analyst at FOREX.com
FOREXCOM:USOIL
by FOREXcom
WTI Oil H4 | Potential bearish reversalWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 79.03 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 80.70 which is a level that sits above the 50.0% Fibonacci retracement level and a pullback resistance. Take profit is at 75.23 which is a pullback support that aligns close to the 78.6% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
Macro Monday 56~Venezuela - Democracy Beacons Economic Reform Macro Monday 56 Venezuela - Democracy Beacons Economic Reform As one of the core members of OPEC, Venezuela holds the distinction of having the largest oil reserves in the world with over 304 billion barrels beneath its surface. This is marginally more than the Saudi Arabia oil reserves. If you ever wondered where the largest oil reserves in the whole world where, they are located on the Orinoco Oil Belt in Central Venezuela. Unfortunately Venezuela has suffered from political and economic factors that hasn’t allowed the country and its people to benefit from this large natural resource. A national election on the 28th July 2024 has the potential to change everything and allow Venezuelans to form a democratic government. This has the promise of leading the country into a new positive social and economic epoch. Venezuela’s oil production plummeted by c.75% over the past ten years, largely due to political missteps. The current administrations illegal expropriations of foreign oil and gas assets were a major red flag for potential investors. Additionally, Venezuela’s poor governance, mismanagement, and U.S. sanctions have contributed to a drastic decline in oil output. In September 2023, Venezuela produced only 735,000 barrels per day, making it the 10th-largest producer in OPEC despite it being the largest global oil reserve. The situation highlights the some challenges faced by petrostates that heavily rely on oil exports and their governance over it. Path to Democracy calls for International Support Venezuela stands at a critical juncture, with the potential for a historic return to democracy by way of national election on 28th July 2024. The opposition has rallied behind a leading candidate, Edmundo González of the Democratic Unity Platform (PUD) for the upcoming national election. He has taken the place of the former disqualified Maria Corina Machado (unfairly ousted by the incumbent). The incumbent President Nicolás Maduro remains a significant obstacle and still gains support from a Chavista Base. The Chavista Base refers to the loyal supporters of Chavismo, a left-wing populist political ideology associated with the late Venezuelan President Hugo Chávez. These supporters are committed to strong socialist ideas, programs, and government style that characterized Chávez’s rule from 1999 to 2013. Despite international pressure, sanctions and disapproval, this group remains fiercely loyal to the Chavista movement and its successor, President Nicolás Maduro. The opposition Edmundo González, has been leading the polls by over 20 - 40 points and thus the people of Venezuela are calling out for change having suffered under the socialist regime. Maduro's regime has arguably eroded democracy and has been the cause of significant economic pitfalls, and social unrest. To support Venezuelans’ fight for democracy, the United States may offer a legal off-ramp for Maduro and his allies, ensuring they won’t face prosecution if they recognize electoral defeat. This approach has worked in other countries like South Africa and Chile, after which both countries could move forward constructively and relatively peacefully. This approach could allow for a peaceful transition to democracy in Venezuela. A democratic Venezuela would benefit U.S. foreign policy, limit migration to the U.S, and reduce the influence of Russia and China in the South Americas via pacts like the BRICS. Previous efforts to achieve the off-ramp approach in Venezuela have failed, however the opposition leader González is ahead in most polls and the election is days away. With some international pressure/support, this could be a major moment for Venezuela, opening up the country and its resources to operate under a free market, allowing for competitive growth, innovation freedom, consumer sovereignty and free flowing export economy. Exports Venezuela is historically highly dependent on its petroleum oil exports. Crude oil, in particular, has been the primary driver of its export revenue. In recent years, Venezuela’s top exports include: 1. Mineral fuels including oil: This category represents 26.1% of total exports. 2. Iron and steel: Comprising 21% of exports. 3. Organic chemicals: Accounting for 9.9% of exports. 4. Aluminum: Representing 8.4% of exports. 5. Fish: Contributing 7.5% to export value. These products collectively account for 88.1% of Venezuela’s global shipments. Notably, mineral fuels (especially crude oil) have experienced significant growth in recent years. China, Turkey, Spain, the U.S., and Brazil are among Venezuela’s main export partners. Blooming Tourism Sector In 2023 Venezuela experienced a remarkable resurgence in international tourism. The country welcomed 1.25 million foreign visitors, marking a 90% increase compared to the previous year when 656,000 people arrived. While specific revenue figures for 2023 are not readily available, this surge in tourist arrivals indicates a positive trend for the Venezuelan tourism sector. I thought id mention just just a few attractions: 1.Angel Falls: Located in Canaima National Park, Angel Falls is the highest waterfall in the world, dropping 979 meters. Best seen during the rainy season (May to November) when water flow is abundant. 2.Los Roques Archipelago: This chain of islands, 160 kilometres north of the central coast, offers sun-drenched beaches, turquoise waters, and coral reefs. It’s a paradise for beach lovers and nature enthusiasts. The Chart Caracas Stock Exchange- BME:IBC Summary I cannot recommend taking an entry on the above chart and regardless, it would be incredibly difficult to do so with sanctions in place and the political turmoil that is yet to be resolved. However, a major date is approaching for the national election this coming Sunday 28th July 2024 , and it could be the beginning of a monumental positive shift for the future of Venezuela’s economy. We can only watch from afar and not forget that this country boasts thee largest oil reserves in the world, has a blooming tourism scene with some of the most unique tourist attractions, and a varied export economy. Somewhere in the future there will likely be great opportunity in Venezuela, however for the moment we await the shifting winds of democracy to catch the Venezuelan sails. Lets see what happens this Sunday. PUKA
I
by PukaCharts
WTI OIL Correction is over. Buy strongly.WTI Oil (USOIL) followed our July 02 (see chart below) sell signal to perfection as it got rejected on the Lower Highs trend-line and Resistance 1 and broke today below the 0.618 Fib, hitting our 77.00 Target in the process: For that projection we used the February 05 Low as a benchmark, which also hit the 0.618 Fib and rebounded on the 1W MA200 (red trend-line). That has been the multi-year Support level for WTI, so we currently won't get a better long-term buy signal than this. As a result, we are now turning bullish again on Crude, targeting the -0.5 Fib extension (as on the April 05 High) at 90.50. Note also that the 1D RSI is almost oversold at 30.00, a clear cyclical buy signal in the recent past (green circles). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
4
Crude oil latest analysis and signal strategies.Crude oil technical analysis Daily resistance 82-83.4, support below 80-77 Four-hour resistance 82-82.5, support below 80 Crude oil operation suggestions: The overall price of crude oil maintains a narrow range of fluctuations. In the short term, the oil price stands above the 80 mark, and still maintains a wide range of long and short fluctuations. Pay attention to the 81.1/82.5 resistance above. Today, the support below continues to focus on the 80 integer mark. A downward breakthrough may reach around 79-78. Rely on this range to maintain high selling and low buying during the day SELL:83.4near SL:83.8 SELL:82.5near SL:82.8 Technical analysis only provides trading direction!
FX:USOILSPOT
by ActuaryJ
WEEKLY FOREX FORECAST July 22-26th: OIL INDICES GOLD SILVERThis is Part 1 of the Weekly Forex Forecast JuLY 22 - 26th In this video, we will cover: S&P500 NASDAQ DOW GOLD SILVER US OIL UK OIL Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
COMEX_MINI:SIL1!
by RT_Money
1
Oil Prices Plunge Amid Global UncertaintyCurrent Price Movement: West Texas Intermediate (WTI) futures on the NYMEX have extended their downside, trading below $78.00. This decline is primarily driven by concerns over China's economic outlook and political uncertainty in the United States. Factors Influencing the Oil Price: China’s Economic Concerns: The People's Bank of China (PBoC) unexpectedly reduced its Loan Prime Rate by 10 basis points to 3.35% (one-year) and 3.85% (five-year). This rate cut follows weaker-than-expected Q2 GDP growth of 0.7%, below estimates of 1.1% and previous figures of 1.5%. As the world's largest oil importer, China’s economic slowdown raises concerns about future oil demand, exerting downward pressure on prices. Supply Outlook: Morgan Stanley forecasts an increase in oil supply by 2.5 million barrels per day by 2025 from OPEC and non-OPEC producers. The anticipated supply growth exceeds demand growth projections, contributing to the easing of tight market fears and further weakening oil prices. US Political Uncertainty: The potential nomination of Kamala Harris as the Democratic leader and speculation about Donald Trump’s potential victory in the upcoming presidential election have created political uncertainty. Trump’s promise to increase US oil production if elected could lead to a future increase in supply, adding downward pressure on oil prices. The US Dollar Index (DXY) has edged lower amidst this political uncertainty, affecting oil prices inversely. Global Economic Indicators: Preliminary S&P Global Manufacturing PMI data from various nations are expected to provide insights into the global demand outlook, which will further influence oil prices. Canadian Dollar (CAD) Dynamics: The USD/CAD pair has risen to near 1.3750, influenced by the sharp correction in oil prices. Canada, being a leading oil supplier to the US, sees its currency affected by oil price movements. The weakening CAD amidst declining oil prices reflects this relationship. Expectations of the Bank of Canada (BoC) cutting interest rates by 25 basis points to 4.5% due to easing price pressures and a cooling labor market also impact the CAD. US Economic Data: The trajectory of the US Dollar will be influenced by upcoming US economic data, providing clues about the Federal Reserve's interest rate decisions. Political developments, such as the withdrawal of Joe Biden's re-election bid, have added to the uncertainty, impacting the DXY and, consequently, oil prices.
TVC:USOILShort
by Forex48_TradingAcademy
1
Crude Oil hit Major Resistance, 10% Down until early AugustIn my latest analysis of the Crude Oil Futures ( NYMEX:CL1! ) market, I've identified key medium-term resistance and support levels. The resistance at $84.30 was ideal for a short position, with a trailing-stop set at $83.80 to manage risk. My target for this short position is $74.50, suggesting a significant profit potential of over 10%. Considering that most significant downtrends in oil take about 20 days, I expect the price to reach $74.50 around the end of July or early August. I also noticed consolidation zones between $82.00 and $77.00, which may cause temporary price consolidation. The medium-term support at $74.50 is crucial for considering a long position, indicating a possible upward reversal. My strategy is to short at $84.30 (already done) with a stop-loss at $83.80 (to minimize losses) and aim for a profit at $74.50, while closely monitoring the consolidation zones for any signs of price stalling or reversal. If all goes according my plan, I also might consider a long position at around $74. What is your take on OIL for the next month?
NYMEX:CL1!Short
by BTFD_
3
Summary of Bullish Outlook for (WTI) OilSeveral factors are contributing to a bullish outlook for West Texas Intermediate (WTI) oil prices in the near future: 1. **Rising Global Demand**: As major economies recover from the COVID-19 pandemic, industrial and transportation activities are increasing, particularly in Asia with significant contributions from China and India. 2. **Production Cuts**: OPEC and its allies (OPEC+) continue to implement production cuts to stabilize and boost oil prices, preventing significant declines. 3. **Declining Oil Inventories**: Recent reports show a notable decrease in oil inventories in the United States and other countries, indicating higher consumption and demand in the market. 4. **Geopolitical Tensions**: Instability in oil-producing regions such as the Middle East and North Africa can lead to supply concerns and price increases. 5. **Investment in Alternative Energies**: While the long-term shift to renewable energy sources may reduce oil demand, short-term transitions and policy changes can cause price volatility and increases. ### Conclusion Given these factors, the outlook for WTI oil prices is bullish. Investors and analysts should closely monitor these dynamics to make informed decisions in the oil market.
OANDA:WTICOUSDLong
by Cryptowormshot