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Crude Oil WTI

US Inflation, Earnings Season Kickoff, Markets on EdgeS&P has failed to make all-time highs Dow has failed to make all-time highs Nasdaq has failed to make any new highs Russell has failed to make any new highs Oil rips on Middle East escalations Dollar rips on technical support and bear trap play. Dollar is a big component to the stock markets edging higher for the remainder of the year (e.g. dollar strong = market weak, dollar weak = market strong) I'm keeping it very simple and staying patient for any "dip" opportunities on indexes, stocks, and watchlist items I still like Gold, Silver, Bitcoin long as well - again, patient on price action and entries Major News this week -US CPI (MoM, YoY, Core and Reg CPI) -Earnings Season Kickoff - DPZ, DAL, WFC, JPM, BLK and others Thanks for watching!!!
AMEX:SPY
by ChrisPulver
$20 Spike if Israel Hits Iran’s Oil? The Israeli military warned that its response to Iran’s missile attack would be “serious and significant,” as Goldman Sachs forecasted that oil prices could surge by $20 per barrel if Iranian production is disrupted. Daan Struyven, Goldman’s co-head of global commodities research, stated on Friday that a "sustained drop of 1 million barrels per day" in Iranian output could lead to a peak increase of $20 per barrel next year, assuming OPEC+ does not immediately boost production, which typically requires time to implement. However, if key OPEC+ members like Saudi Arabia and the UAE step in to offset some of the supply loss, the price impact could be more moderate—around $10 per barrel, Struyven added. Goldman did not offer a specific price forecast if Israel were to target Iran's nuclear facilities, a scenario raised after Republican presidential candidate Donald Trump suggested such a strike was appropriate to recent missile activity from Tehran.
BLACKBULL:WTI
by BlackBull_Markets
USOIL Price Analysis: Double Bottom Breakout Targets $78.37🛢️ USOIL Price Analysis: Double Bottom Breakout Targets $78.37 and $83.67 USOIL (WTI Crude Oil) shows a bullish reversal pattern on the D1 timeframe , with a double bottom breakout signaling potential upward movement. Traders are eyeing key targets, with the first at $78.37 and the second at $83.67 . Here's a breakdown of the setup: 🔍 What is a Double Bottom Pattern? A double bottom is a bullish reversal pattern that forms after a downtrend. In this pattern, the price hits a support level twice and bounces back. This suggests that sellers have been exhausted, and buyers are stepping in to increase prices. The breakout occurs when the price closes above the peak between the two lows, confirming the pattern. 🚀 Key Price Targets for USOIL With the double bottom confirmed, here are the following potential price targets: 1. First Target – $78.37: After the breakout, the immediate upside target is $78.37 . This level is based on a measured move from the bottom of the pattern to the breakout point, giving traders their first profit-taking zone. 2. Second Target – $83.67: Should the bullish momentum continue, the next target to watch is $83.67 , where further resistance is expected. A move toward this level would signify a more extended upward trend in USOIL. ⛔ Stop Loss – $66.23 To manage risk, traders should consider placing a stop loss at $66.23 . This level is below the pattern's low, where a breakdown would invalidate the bullish outlook and potentially trigger further downside. 📊 Factors Influencing USOIL Several factors could affect the success of the breakout: Global Supply and Demand: Changes in OPEC policies, US shale production, and geopolitical tensions can significantly impact oil prices. Economic Growth: A robust global economy often increases oil demand, increasing prices. USD Strength: Since oil is traded in US dollars, a stronger dollar can put downward pressure on oil prices, while a weaker dollar may support further gains. 🛠 Trading Strategy For traders looking to capitalize on this breakout, consider the following: Entry Point: After the breakout, buying near the current price with targets of $78.37 and $83.67 could provide a favorable risk/reward ratio. Risk Management: Place your stop loss at $66.23 to protect against unexpected market reversals. 💡 Conclusion The double bottom breakout on the D1 timeframe suggests that USOIL is poised for a potential rally towards $78.37 and $83.67 , with a protective stop at $66.23 . To navigate this opportunity effectively, traders should stay vigilant of key market factors and global developments. 🔔 Stay tuned for more updates on USOIL and other fundamental market movements.
FX:USOILLong
by amzadlak
USOIL My Opinion! SELL! My dear friends, Please, find my technical outlook for USOIL below: The price is coiling around a solid key level - 74.39 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 71.82 Safe Stop Loss - 75.88 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
TVC:USOILShort
by AnabelSignals
1
Crude Oil Falls to $70.30 as Market Awaits Possible ReversalOil prices have extended their losses for the second consecutive day, with crude trading around $70.30 per barrel on Wednesday. The decline in oil prices has been largely driven by the potential resolution of a political dispute in Libya, which has temporarily halted exports, along with growing concerns over a slowdown in global demand growth. Adding to the negative market sentiment, data from the Institute for Supply Management (ISM) indicated that US manufacturing continues to struggle. Although there was a slight improvement in August, with the ISM Manufacturing PMI rising to 47.2 from 46.8 in July, it still fell short of market expectations of 47.5. This marks the 21st contraction in US factory activity over the past 22 months, underscoring the persistent weakness in the manufacturing sector. From a technical standpoint, oil has entered a strong demand area, where seasonality data suggests a potential increase in volume, hinting at the possibility of a reversal. Additionally, the latest Commitment of Traders (COT) report shows that retail traders are heavily short on oil, further supporting the potential for a rebound. However, it's important to note that commercial traders, often seen as the "smart money," continue to hold lower positions, adding a layer of uncertainty to the reversal outlook. Moreover, oil prices are facing additional pressure due to the Organization of the Petroleum Exporting Countries and their allies (OPEC+) planning to increase production in the upcoming quarter. This move could weigh on prices, making a sustained recovery less certain. While there are signs of a possible reversal in oil prices, the data remains inconclusive, and traders should exercise caution as market dynamics evolve. ✅ Please share your thoughts about WTI in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
BLACKBULL:WTILong
by FOREXN1
1
USOIL / BREAKOUT THE CHANNEL / 4HUSOIL / 4H TIME FRAME HELLO TRADERS The asset has broken out of a channel and is experiencing bullish pressure. This suggests that the asset’s price is moving upwards after a period of consolidation. The asset is trading above a supply zone around 74.37 to 73.69. A retest of this zone may occur before prices begin to rise again, targeting a higher supply zone between 76.85 and 77.60. If the price breaks 73.59, it indicates a potential move to a Fair Value Gap (FVG) between 73.07 and 72.15 , his is a zone where price inefficiencies may exist. If prices stabilize below the FVG zone, it could lead to further declines towards a demand zone between 73.07 and 72.12. This suggests a potential bearish reversal. Supply Zone : 76.85 and 77.60. Demand Zone : 73.07 and 72.12. FVG : 73.07 and 72.15.
TVC:USOILLong
by ArinaKarayi
WTI Crude Surges After Iran’s Missile Attack, Supply Fears BoostWTI crude oil prices edged higher following news that Iran launched missiles at Israel in a direct attack, sparking fears of potential supply disruptions in the oil-rich Middle East region. The escalation of conflict has heightened concerns about stability in the region, with the risk of a broader war possibly threatening oil production and distribution, sending prices upward. From a technical perspective, the price movement has played out exactly as predicted in our previous forecast, which can be seen in the following link: In that analysis, we anticipated a rebound from a key demand area, driven by concerns over geopolitical tensions and possible oil supply disruptions from the conflict. As the situation between Israel and its neighboring countries intensifies, the fear of significant interruptions in oil supply is pushing prices higher. Looking ahead, the bullish momentum in WTI is expected to continue, possibly driving prices above our initial take profit target. Traders should remain alert for further developments in the region, as any escalation could further fuel the upward pressure on oil prices, potentially leading to even more significant gains in the near term. In conclusion, WTI prices are on an upward trajectory, fueled by the geopolitical risks stemming from the direct attack on Israel. Our technical forecast of a rebound from the demand zone has been validated, and with the ongoing threat of supply disruptions, the bullish outlook remains strong. Further gains could push WTI prices well beyond our take profit levels if the conflict persists. ✅ Please share your thoughts about Oil in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
BLACKBULL:WTILong
by FOREXN1
1
WTI Oil H4 | Potential bearish reversalWTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 74.07 which is an overlap resistance that aligns with the 127.2% Fibonacci extension level. Stop loss is at 77.10 which is a level that sits above the 161.8% Fibonacci extension level and a swing-high resistance. Take profit is at 70.06 which is a pullback support. 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. 62% 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 (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% 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
2
2024-10-03 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr oil - Continues to be wild. Got stopped out too many times today and wanted to hurt myself. Huge tails on daily bars above and today a 350 (5%) tick ripper. Bulls just melted through the bear trend line. Can absolutely be a bull trap and we see another giant pullback but for now I would not short it. If anything, I am not touching this for couple of day I think. comment : Market was very two sided until the spike above 72.20 happened. Market also did not accomplish anything after that spike, which leaves us not that much smarter going into tomorrow. It could very well see a big pullback or even proving to be a bull trap near the bear trend line. current market cycle : trading range inside big broad bear channel from the daily chart. If bulls continue above 74, it’s likely a new bull trend and could get us to 78. key levels : 66 - 74 bull case: Bulls let it drop below 67 and still managed to rip 300 ticks higher. Wild times currently. If you are a bull and want to buy this, you need really wide stops or wait for insane pullbacks. Not easy to trade. Bulls want a breakout above the bear trend line and hit 75. Above 75 is most likely no resistance until 77. Since the pullbacks are so deep, I doubt there are many bulls who want to buy 74 in hopes of breaking the trend line but I am open for surprises. Invalidation is below 70.4. bear case: Bears have the do or die moment at 74. Defend the bear trend or give up until we hit the next big bear trend line around 78. Given the erratic moves, bears are alive and well, mostly anyway. Anything below 71 would be a huge win for the bears tomorrow. Daily 20 ema is also flat, decreases the chance for the bulls. Invalidation is above 74.2. short term: Neutral around 74. Bearish below 73 for 70 again. If bulls can continue above 74.2, we could see more giving up by the bears and another strong move to 76 or 78. Very low probability though. medium-long term - Update from 2024-09-08: Bears broke below multi month support and want a retest of 64.46 or lower. Right now the selling is a bit too steep to be sustainable. When we get a more complex pullback and form a decent channel, I will write a longer update here. Can this bear trend be the start of a bigger where we see Oil below 50$ again? I have absolutely no idea but the current daily chart can not not lead to that conclusion. current swing trade: None trade of the day: Not going there today. You can’t expect this spike. Don’t fool yourself.
NYMEX:MCL1!
by priceactiontds
WTI: Will Iran drag Saudi into conflict? Israeli officials are considering how to respond after an Iranian missile strike on Wednesday, which caused little damage, but definitely had the potential to do so. Their next steps could depend on the U.S. stance. President Joe Biden reaffirmed U.S. support for Israel but made it clear on Wednesday that he would not support Israeli strikes on Iran’s nuclear sites. Oil prices have already jumped 5% after Biden mentioned discussions about possible Israeli strikes on Iran’s oil industry. Iran, the world’s seventh-largest oil producer, exports about half of its oil, mainly to China. If tensions escalate into a broader conflict, Iran it is expected to draw Israel’s regional allies, including Saudi Arabia (an even larger oil producer than Iran) and Jordan, into the confrontation.
BLACKBULL:WTI
by BlackBull_Markets
USOIL Is Going Up! Buy! Take a look at our analysis for USOIL. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 72.003. The above observations make me that the market will inevitably achieve 77.673 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
EASYMARKETS:OILUSDLong
by SignalProvider
1
Today's crude oil trading strategyCrude oil Today's ’U.S. EIA crude oil inventory for the week to September 27th' data is sharply bearish on crude oil! In addition, OPEC stated: the three countries have confirmed their compliance with the production reduction compensation plan, and the production reduction compensation is equivalent to a slow increase, so it is difficult for the added crude oil to rise! Therefore, crude oil is still mainly shorted! Today's crude oil trading strategy: short the market near 70.6, 71 increase the position operation
TVC:USOILShort
by Falcon-Training-Camp