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Brent Crude Oil Analysis==>> Fundamental + TechnicalBrent Crude Oil ( FX_IDC:USDBRO ) began to rise from the Heavy Support zone($71.30-$64.80) after Iran attacked Israel . ( It seemed that before the attack of Iran, Brent oil intended to fall and correction further ). Today's fundamental analysis of Brent crude oil prices is influenced by several key factors: Geopolitical Tensions : The ongoing conflict in the Middle East, especially between Iran and Israel, has raised concerns about potential disruptions to oil production and exports. Any attacks on Iranian oil infrastructure, particularly in the Strait of Hormuz, a crucial passage for global oil exports, could reduce supply and drive prices higher. These concerns have contributed to the recent rise in Brent prices, pushing it above $80 per barrel. Global Demand : China's recent large-scale economic stimulus aimed at boosting recovery has increased optimism for higher oil demand. As the world's largest oil consumer, any rise in demand from China directly influences global oil prices. OPEC+ Supply Capacity : Although OPEC+ still has significant spare production capacity, there are worries that a severe crisis in the region could overwhelm this capacity, preventing the group from compensating for any sudden drop in supply. Overall, the short-term outlook for Brent crude appears bullish, driven by geopolitical uncertainties and potential increases in demand from China. However, the market remains cautious to see if these trends will hold over time. Now, according to the fundamental analysis of Brent Crude Oi, let's see which area is suitable for buying Brent Crude Oi . Brent Crude Oil is moving near the Support zone and the Support line . Brent Crude Oil's movement structure is corrective , and we should expect it to move upwards again . I expect Brent Crude Oil to start rising again from or near the Support zone and at least to $81(Yearly Pivot Point) and then attack the Resistance lines . Brent Crude Oil Analyze (USDBRO), Daily time frame⏰. 🔔 Be sure to follow the updated ideas. 🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
FX_IDC:USDBROLong
by pejman_zwin
3
Oil baby, common you can do it! Do it!FA: Historically, when the Fed rate is lowered in the U.S., there is one very simple pattern - the collapse of commodities! Of course, there are nuances related to the rate of downgrade.... Prices do not start falling at once... most often there is a time lag from 2-3 months to 8 months. It is important to understand the following... The USA controls oil prices (directly or indirectly - but the fact remains). Oil reserves in the states are low but last report showed very nice numbers (actual -0.8M vs forecast -2.7M) Now catch the train of thought: US will start a cycle of rate cuts- US has more than enough oil reserves - historically rate cuts are a drop in oil prices TA: After aggressive movement till 4h gap, price went down as expected with first MS, then price went up to test BTS zone and made second shift (BoS) and came into bullish 4h fvg. Now there are 3 options: 1 - move higher till 4h fvg into premium , rebalance and final move till EQL at 71.4$ area 2 - fail 73.3 area from market opening with potential move downwards till EQL 3 - Breaking above 4h FVG with target at 77.55$, this option can be considered only after closing above 4h fvg on 1h+ time frame with candle's body
TVC:USOIL
by Almenio
OILUSD/H4 WTI oil fluctuates in the stable range of $70 - $80.OILUSD forecast on August 13, 2024: WTI oil is under pressure from the war and DXY is decreasing. Currently, the oil price has risen from the $71 region back to the $80 area. It is likely that oil will experience a correction before continuing its upward trend. The trading trend today is BUY. Key levels to watch are: 76.5, 78, 80, and 82. Recommended orders: Plan 1: BUY OILUSD zone 76-76.5 SL 75.5 TP 78 - 80 - 81. Plan 2: BUY OILUSD zone 77.60 - 78.10 SL 77.20 TP 79 - 80 - 81. Plan 3: SELL OILUSD zone 83.30 - 83.50 SL 83.80 TP 82 - 81 - 78.
NYMEX:CL1!
by wetdyerap
July 15 WTI crude oil trading strategy July 15 WTI crude oil trading strategy I give several safe trading areas: Sell: 83.5-83.7 (I sold at this price last week and made a big profit. I will continue to try to sell here this week) 84.2-84.55 (suitable for selling, sl84.8) Buy: 81.5-81.6 (scalping profit) 81.-81.2 (sl 80.68) 79.95-81.2 (can hold and get more than 80-160pips profit) Trading according to these indicators can make you a safe profit. If you use my signal to make a profit. Please join me and give me a thumbs up
TVC:USOILLong
by MaudEvans
75: Decline in Oil Tankers to China Signals Weaker DemandThe number of oil tankers heading to China has dropped to its lowest in nearly two years, indicating weaker demand in the world's second-largest economy. Bloomberg reports only 86 supertankers en route over the next three months, the lowest since August 2022. Current Scenario: After holding $70 on the weekly chart, oil prices are attempting to reach new highs around $90. This movement suggests bullish momentum as the market reacts to shifting demand dynamics. Bearish Scenario: If oil prices fail to maintain momentum and drop below the recent low, we could see a trend reversal. Key support to watch is around $60, where buyers might step in again. Bullish Scenario: If oil prices break above $90, we could target $100 as the next major resistance level. Sustained bullish momentum would be necessary for this upward move, potentially driven by improving economic indicators or geopolitical factors.
NYMEX:CL1!Short
by SeventyFive-Invest
Weekend Wizardry On Crude OilRight now It makes no sense in my mind why the market would want to return to being bearish. Yes we are in a premium and after a couple days of upwards movement there can be some stagnent action for traders who like to take more than 25-40 ticks ona single move. So again why would market want to move lower on a htf bases as pointed in my arrows we have a Daily FVG whcih I will be watching price to respect and create a discount in that FVG The wicks from Friday and Monday Daily chart show immediate rebalance and a propell higher is what I am looking for. Given Monday can be opposing price to what Tues and Wed Provide... wink wink Magnet shows my target for next week. to revisit this and whilst in fvg how do we close? Daily fvg CE? I really do look at price on the day to day basis weekly targets yes but this is a subconscious thought when im trading pacific times of the day.
NYMEX:CL1!Long
by IamThattrader
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
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