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USOIL: Short near 81.and Support 79.5~79.7Crude oil technical analysis Daily resistance 83.4, support below 77.5 Four-hour resistance 81, support below 80-77.5 Crude oil operation suggestions: Crude oil slightly rose to 81 yesterday, and then fell back and fluctuated sideways under pressure. The overall price support stabilized above the 80 mark, showing a strong bullish oscillation rhythm. The short-term local decline adjustment will not change the overall bullish strength. At the same time, short-term adjustments will provide better opportunities for long orders to enter the market. Today's support is around 79.7-79.5. If it falls back to this position during the day, continue to go long. The upper target continues to focus on the new high. The short-term bullish strong dividing line focuses on the 79 mark. If the daily level stabilizes above this position, continue to go long at a low price. SELL:80.0 near SL:80.40 SELL:81.0 near SL:81.30 SELL:83.4 near SL:83.70 Technical analysis only provides trading direction!
FX:USOILSPOT
by ActuaryJ
USOIL: Can crude oil stabilize at the 80 mark?Technical analysis of crude oil Daily resistance 83.4, support below 77-75 Four-hour resistance 81, support below 80-79 Operation suggestions for crude oil: The overall technical form of crude oil shows a bullish breakthrough. Today's support below continues to focus on yesterday's hourly neckline near 79.5-79.7. Return to this area during the day to continue to follow the trend and look for a breakthrough. The upper target is still expected to break through. The overall bullish strong dividing line moves up to the 78 mark. The daily level stabilizes above this position and continues to follow the trend and keep the low-price long rhythm unchanged. (At the same time, beware of sudden trend changes. The technical side also has a warning of a sharp drop and wash) BUY:80.0 near SL:79.70 SELL:81.0 near SL:81.30 SELL:83.4 near SL:83.70 Technical analysis only provides trading direction!
FX:USOILSPOTLong
by ActuaryJ
USOIL H4 | Bearish DropBased on the H4 chart analysis, we can see that the price has just reacted off our sell entry at 80.73, which is an overlap resistance. Our take profit will be at 78.78, an overlap support level close to 23.6% Fibo retracement. The stop loss will be placed at 83.56, which is an overlap resistance 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:USOILSPOTShort
by FXCM
WTI OIL Shifted to longterm bullish, but expect correction firstWTI Oil (USOIL) broke above its 1D MA50 (blue trend-line) and invalidated April's Channel Down. Last time we saw such a Channel Down bullish break-out following a rebound on the 1W MA50 (red trend-line) was on December 20 2023 and before that on May 17 2023. The common characteristic was that a 1D MACD Bullish Cross accompanied all those break-outs and the last two formed a 1D Death Cross. On both previous occasions, the price pulled back to at least the 0.618 Fibonacci retracement level, touching the 1W MA50 again. As a result, even though we have confirmed a new long-term uptrend, we will turn bearish on the short-term, expecting a pull-back towards the 0.618 Fib, targeting $76.00. ------------------------------------------------------------------------------- ** 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:USOILShort
by TradingShot
Looking to sell WTI crude (USOUSD) … the week of 17 June, 2024Often times, the 200dma is a great dynamic support and resistance. See how effective it has been for the past 6 weeks as resistance as multiple attempts were made by the bulls. The up trendline was broken recently and last week it was re-tested from below. The round number 80.00 and the fact that long-term we are in a downtrend are all factors of confluence. There are so many reasons supporting a sell but the short-term trend is bullish. I want to see some bearish evidence before committing to a trade. A bullish continuation past the 80.00 level and the 200dma will negate my analysis. As you can see, this has the potential to be a +5R trade. Staying patient and allowing for market to make its moves will be required. This is not a trade recommendation. Trading carries a high level of risk, so only trade with money you can afford to lose. Anything can happen in the markets at any time. Please use sound money and risk management in all your trades. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!!
VANTAGE:USOUSDShort
by Trading_Vista
1
OIL: Operation in the range of 77~80Crude Oil Technical Analysis Daily resistance is 80-83.4, support below is 77-75 Four-hour resistance is 80, support below is 77.8 Crude oil operation advice: Yesterday, crude oil experienced a strong bullish rise around the 77.5 mark. In the Asian and European markets, the price slightly stepped back to test and stabilized at the 77.5 mark, ushering in a rebound. The European market rose slightly and broke through the 78 mark, falling into sideways fluctuations. After the US Bulls continued to work hard during the session, and the hourly line continued to rise and broke through and stood at the 79 mark, and continued to rise to close strongly near the 80 mark. After the overall price fluctuated around the 77 mark for nearly 4 trading days, the bulls broke through. In the short term, the oil price stood above the 79 mark and entered the bullish rebound cycle again. Today's lower support focuses on the neckline of yesterday's hourly line near 78.5-78.7. The intraday retracement relies on this position to continue to be bullish. The upper target continues to focus on breaking highs. The short-term long-short strength and weakness dividing line focuses on the 77 mark. Any retracement before the daily level falls below this position is a long opportunity. BUY: 78.4 near SL: 78.00 BUY: 77.8 near SL: 77.50 SELL: 80.0 near SL: 80.50 Technical analysis only provides trading direction!
FX:USOILSPOTLong
by ActuaryJ
Oil Broader Support Market Optimism, Despite Lingering UncertainOil prices edged higher this week, marking their strongest gain in seven days. This upward momentum came despite a somewhat ambiguous outlook for crude itself, suggesting the driving force behind the rise lies elsewhere: positive sentiment in the broader financial markets. Risk-On Rally Lifts Oil The primary factor behind oil's recent rise is the prevailing "risk-on" sentiment dominating global markets. Equity indices, particularly in the United States, have been scaling new highs, with the S&P 500 reaching its 30th record this year. This optimism seems to be spilling over into the commodities market, including oil. Investors, buoyed by the positive performance in equities, are displaying a greater willingness to take on risk, and oil is seen as a potential beneficiary. OPEC+ Cuts and Geopolitical Tensions Offer Underlying Support Beyond the broader market sentiment, a couple of oil-specific factors are also contributing to the price increase. Firstly, the decision by OPEC+, the world's leading oil producer alliance, to extend production cuts has helped to tighten supply and prop up prices. Anxieties surrounding potential disruptions due to geopolitical tensions in major oil-producing regions like the Middle East are also lending some support. Mixed Outlook for Crude: Demand Questions Linger However, the outlook for crude remains somewhat clouded by uncertainties. While the supply side appears relatively stable thanks to OPEC+ intervention, demand remains a question mark. Signs of slowing economic growth in some parts of the world, particularly in Asia, raise concerns about future oil consumption. Data from China, a major consumer of oil, recently indicated weaker-than-expected industrial activity, potentially signaling a softening demand outlook. Additionally, rising gasoline prices in some regions, like India, could dampen consumer spending and lead to lower demand for fuel. The Balancing Act: Weighing Optimism Against Uncertainty The current situation presents a complex picture for oil markets. The positive sentiment in broader financial markets is providing a tailwind for oil prices. However, this is counterbalanced by lingering uncertainties about future demand, particularly in Asia. The net effect of these opposing forces will determine the future trajectory of oil prices. Looking Ahead: Navigating a Volatile Market Oil will likely see continued volatility in oil markets. Investors will be closely monitoring key factors like: • Global economic performance: The health of major economies, particularly China, will significantly influence oil demand. • Monetary policy decisions: Actions by central banks, especially the U.S. Federal Reserve, could impact risk appetite and indirectly affect oil prices. • Geopolitical developments: Events in major oil-producing regions can disrupt supply and cause price spikes. By carefully weighing these factors, market participants can navigate the current uncertainty and make informed decisions regarding oil investments.
FX:USOILLong
by bryandowningqln
WTI stages breakoutCrude oil's rally today underscores its recent resilience. Prices surged despite weaker Chinese industrial data, suggesting investors are expecting the oil market to tighten as we head deeper into the US driving season. Thanks to the rally, WTI has broken its bearish trendline that had been in place since April, finding strong support around $77.80, where the 21-day exponential moving average is present. Today's rally has lifted WTI to its 200-day moving average, just below the $79.50 level. Previously, it had struggled within the $79.50 to $80.00 range. Considering last week's V-shaped recovery and the subsequent break above the bearish trendline, crude oil bulls are now looking for a move above May's high of $80.63. Achieving this would mark the first higher high and confirm a bullish reversal signal for WTI. Conversely, if oil prices turn lower in the coming days and fall back below the breakout area around $77.80, the bearish trend would likely resume, leading to further technical selling. However, the bullish scenario appears more probable to me. Written by Fawad Razaqzada, market analyst at FOREX.com Follow me on twitter: x.com
FOREXCOM:USOIL
by FOREXcom
Crude oil is trading in a range, with a focus on 73.8~76.5Technical analysis of crude oil Daily resistance 78.4, support below 72.7 Four-hour resistance 76, support below 75-73.8 Crude oil operation suggestions: Crude oil fell first and then rose last week. The weekly line is in a wide range of fluctuations, and there is no strong unilateral trend. In the form of repeated tug-of-war between long and short positions, pay attention to the support of the low point of 73.80 this week. If it holds, it will continue to be bullish. The overall price shows a rhythm of long and short narrow fluctuations. Although the daily level has experienced two consecutive positive fluctuations and rebounded, the overall technical indicators are still in a short position. The upper side is still facing the pressure of the 76.5 mark. Today's rebound relies on the 76.5 line to continue to be short first. The short-term support below focuses on the vicinity of 74.3-74.5. Today, we will rely on this range to maintain the rhythm of fluctuations and sell high and buy low. SELL:76.0 near SL:76.50 BUY:73.8 near SL:73.40 Technical analysis only provides trading direction!
FX:USOILSPOT
by ActuaryJ
USOIL Is Bearish! Short! Please, check our technical outlook for USOIL. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 78.44. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 76.80 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILShort
by SignalProvider
1
intermediate trend is up but now trading in sidewayI've set up my TradingView chart for Crude Oil (WTI) in the 1-hour timeframe to understand the current market conditions and potential trading opportunities clearly. 1. Price Levels: - Right now, the price of crude oil is around $78.217. - I’ve marked key resistance levels at $80.278 and $79.988. These are the areas where I expect the price might face some selling pressure. - On the downside, support levels are at $77.557 and $77.550, which could act as a floor if the price drops. 2. Trendlines: - I’ve drawn a couple of diagonal trendlines that form a channel, showing the range within which the price has been bouncing around. - These trendlines intersect at several points, which might signal potential breakouts or breakdowns. 3. Volume: - The volume bars at the bottom are crucial. They show how much crude oil is being traded during each hour. - Notice the spikes in volume during significant price moves—these often indicate strong market activity and can hint at future price directions. 4. Candlestick Patterns: - I use candlestick patterns to track price action. Recently, the price has been consolidating around the $78.217 level, which suggests that the market is gathering momentum for a big move. 5. Supply and Demand Zones: - The shaded areas highlight important supply and demand zones. These zones are where there has been significant buying or selling interest in the past. - They help me identify potential reversal points and set my stop-loss and take-profit levels more accurately. 6. Support and Resistance Boxes: - I’ve also drawn boxes around the main support and resistance levels to make them stand out. - The upper box around $80.278 is a strong resistance zone, while the lower box near $77.550 is a key support area. This setup helps me keep track of critical price levels and market behavior, making it easier to plan my trades. I rely heavily on these visual cues and patterns to anticipate where the market might head next.
FX:USOIL
by THE-10
Daily Timeframe suggests Bearish Price ActionWe are currently inside a 12$ Range on Crude Oil on the monthly timeframe. Support being 71.32 and resistance being 83.22. After two weeks of trading in June, Oil is up roughly 2/3 of 1 Percent. The First week being quite bearish but which was corrected, plus an additional some to the upside on the second week. Price came awfully close to the weekly resistance level ( about 25 cents) on Wednesday but coincided with US weekly Inventories and dropped on a higher than forecasted number. Weekly Bearish Target for Crude this week I have 75.36 Weekly support level. Weekly Long target for crude this week I have 79.58 Weekly resistance Level. What's interesting is that after the initial climb on last Monday, Crude simply consolidated for the rest of the week. It actually printed 3 Daily candles that had a larger top wick than the body of the candle. My Bias is bearish to kick off the new trading week and short term targets are 77.30 for the upcoming session.
TVC:USOILShort
by ShrewdCatfx
#202425 - a weekly price action market recap and outlook - oilGood Evening and I hope you are well. wti crude oil futures Quote from last week: bull case: The best the bulls can hope for, is for the lows to hold and to move sideways and hit the daily ema again. They failed at keeping it above 75, which was huge support. Last bear leg inside this bigger trading range was 11 weeks long from high to low and we are currently at 9 weeks. Bulls will want to find support here around 70-72 and trade back up to at least 78 over the next 8-12 weeks. comment: After Monday there was no question that bulls took control again and the bear trend is over. Bears now fight to keep this a lower high and retest the 72.48 low but for now, market is in balance around 78. Bulls want to break out of the bear channel and test 80 again. current market cycle: trading range key levels: 72-79 bull case: Strong week by the bulls with 3 pushes up but still a lower high. Their next target is to get back above 80.22. Right now they have momentum going but big down, big up mostly creates confusion and that means trading range. Above 79.5 I will probably long for 80. They need to stay above 77 or odds favor a retest of the lows below 74. Invalidation is below 77. bear case: Huge bear surprise the week before and now a big bull surprise. Most reasonable thing here is for the market to move more sideways, probably still inside the very big triangle 73 - 81.5. If bears get below 77, they want to retest the lows below 74, which is also what I think has the slightly better odds next week but I would wait for confirmation. Invalidation is above 80.6. outlook last week: “Neutral because I think we will hit the daily ema again and a retest of 72.5ish. I am not a fortune teller so I don’t know which comes first. I will watch the price action and give daily updates here on substack and intraday in my trading room.” → Last Sunday we traded 75.53 and now we are at 78.45. I said we will hit the daily 20ema which was 140 upwards. On Monday there was no question we will get there, so I hope you made some. Did not expect bears to just disappear afterwards and let the market trade above for the whole week. short term: Neutral right under the bear channel line and daily ema at 77.5. Can break to either side. medium-long term: We are seeing the big triangle playing out between 72 and 82. The high of the triangle got tested until mid of April and we have now tested the lows around 72.5. Market will probably move more inside this big range until we get a new big cycle to either side. —unchanged current swing trade: None chart update: Adjusted both two-legged corrections to fit the current pattern better but the C target is very questionable as of now. We need more price action to know where market wants to go from here.
NYMEX:MCL1!
by priceactiontds
USOIL Possible shortUSOIL has been moving bearishly for some time now since it's overall higher time frame direction is bearish. It has recently formed an interesting structural pattern where it swept previous equal highs before breaking the previous low with MASSIVE momentum. It has currently retraced back towards the deep inner range, where the kick the this previous enormous bearish momentum began, to fill imbalances that were left behind in the process. So price could potentially use a 4h supply zone to push further to the downside with the help of a triangle liquidity that has currently formed below it. The target is the latest low as it is weak due to the nature of the tend being bearish.
TVC:USOILShort
by BlackTygaTrades