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Crude Oil WTI

CRUDE OIL (WTI): Support & Resistance Analysis Here is my latest structure analysis and important supports and resistances on WTI Oil on a daily. Horizontal Structures Support 1: 65.2 - 66.9 area Resistance 1: 67.7 - 62.2 area Resistance 2: 69.9 - 70.5 area Resistance 3: 71.2 - 71.5 area Resistance 4: 72.2 - 72.9 area Vertical Structures Vertical Resistance 1: Falling trend line Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
FX:USOILShort
by VasilyTrader
2
Market Analysis: WTI Crude Oil Faces Continued StrugglesMarket Analysis: WTI Crude Oil Faces Continued Struggles Crude oil is showing bearish signs and might decline below $66.80. Important Takeaways for Oil Price Analysis Today - Crude oil prices failed to clear the $70.00 region and started a fresh decline. - There is a connecting bearish trend line forming with resistance at $67.50 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to clear the $70.00 resistance zone against the US Dollar. The price started a fresh decline below the $68.80 support. The price even dipped below the $67.80 level and the 50-hour simple moving average. The bulls are now active near the $66.80 level. A low was formed at $66.78 and the price is now consolidating losses. If there is a fresh increase, it could face resistance near the 23.6% Fib retracement level of the downward move from the $70.10 swing high to the $66.78 low. There is also a connecting bearish trend line forming with resistance at $67.50. The first major resistance is near the $67.80 level, above which the price could rise and test the 61.8% Fib retracement level of the downward move from the $70.10 swing high to the $66.78 low at $68.80. Any more gains might send the price toward the $69.60 level. Conversely, the price might continue to move down and revisit the $66.80 support. The next major support on the WTI crude oil chart is $66.00. If there is a downside break, the price might decline toward $63.50. Any more losses may perhaps open the doors for a move toward the $61.20 support zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
WTI recovered slightly, the outlook tilted to the downsideWTI TVC:USOIL increased slightly in the Asian trading session on Monday (December 9), trading around 67.50 USD/barrel. Oil prices fell sharply last Friday, closing near their lowest level, mainly due to expected declines in global demand. However, expectations that the Federal Reserve will cut interest rates in December increased following the release of US nonfarm data. According to CME Group's FedWatch, federal funds rate futures trading points to the possibility of a 25 basis point rate cut by the Federal Reserve. point in December was nearly 90%, which will provide some support for oil prices. Currently, uncertainty about the geopolitical situation increased again at the weekend, making the medium-term recovery of oil prices still not optimistic. In the short term, crude oil traders need to continue to observe whether the pressure brought about by the geopolitical situation on the supply side will support oil prices to continue to recover. Essentially, this week will continue to focus on changes in inventory data and whether demand-side pressures ease. This week, the financial market in general and the crude oil and WTI crude oil trading market in particular will focus on US CPI data. On the daily chart, WTI TVC:USOIL although it recovered slightly in the opening Asian trading session today (December 9), it still has all the technical factors supporting bearish expectations. With the long-term trend being noticed by the price channel followed by the short-term price channel, it has both a long-term and short-term trend of decreasing prices. On the other hand, WTI crude oil is also under main pressure from EMA21 along with the 0.236% Fibonacci retracement level. In the short term, if WTI crude oil is sold below 65.28USD, there will be a prospect for a new downtrend to open, and the technical point of 68.34USD is the closest resistance currently. The relative strength index also maintained price activity below the 50 level, which should be considered a negative signal for WTI crude oil technically. During the day, the technical outlook for WTI crude oil on the daily chart leans bearish with notable points listed below. Support: 66.44 – 65.28USD Resistance: 68.34 – 69.51USD
TVC:USOILShort
by Xayah_trading
Hellena | Oil (4H): Short to support lvl 63.5 (Wave 3).Colleagues, the last forecast is still active, but I thought it was worth doing another one that will show more clearly what is happening now. In my opinion, the price is still in wave “2” of low order, but in a three-wave correction. This means that wave “2” (black, lower wave) should not update the level of 73.114, but it can update 71.695, although this condition is not necessary. As a result, I still believe that the price will continue its downward movement, although it is in a prolonged correction. There are 2 possible courses of action: 1) The riskier one is to open a short position on the market. 2) Conservative - wait for the price to rise, and enter with less risk. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
15
USOUSD (OIL), key support remains in play Thanks for checking our latest update. Today we are looking at oil on its daily chart. The key questions we are asking today from a technical perspective are: Will we see key support continue to hold, and will the rough looking ending diagonal pattern confirm, setting off a new rally? Or could sellers finally break the discussed key support area, setting off a new leg lower? Key support: $67 - $66.50. As always, traders must remain vigilant and stay abreast of the latest updates from OPEC and geopolitical influences, as these factors can significantly impact the market. Good trading from Eightcap.
EIGHTCAP:USOUSD
by Eightcap
Falling towards pullback support?USO/USD is falling towards the support level which is a pullback support that aligns with the 127.2% Fibonacci extension and could bounce from this level to our take profit. Entry: 66.96 Why we like it: There is a pullback support level that aligns with the 127.2% Fibonacci extension. Stop loss: 65.52 Why we like it: There is a pullback support level that lines up with the 127.2% Fibonacci extension. Take profit: 68.66 Why we like it: There is a pullback resistance level that lines up with the 50% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
VANTAGE:USOUSDLong
by VantageMarkets
My Bearish Setup in Progress on WTI Crude Oil WTI crude oil has been in a steady downtrend and recently formed a potential supply zone (purple area) around $69.50–$70.15, aligning with a key inefficiency. Price action suggests a bearish reaction at this zone, with the potential for lower highs before a continuation to the downside. Liquidity below $66.68 is the next probable target as sellers dominate the market. The setup favors waiting for price to tap into the supply zone, showing clear rejection signs before executing shorts. A break below recent lows would confirm bearish momentum, with further downside targets in the $65.50–$64.50 range.
BLACKBULL:WTI
by TopGBanks
#202449 - priceactiontds - weekly update - wti crude oil futuresGood Evening and I hope you are well. tl;dr wti crude oil futures: Neutral af. Two weekly bear bars closing on their lows the past two weeks. Before that we had 12 weeks of most alternating bull/bear weeks. Can you get bearish now for a stronger leg down? I highly doubt it. Market has not had a weekly close below 65.6 for exactly a year. 65.6 is the November low and I expect it to hold. So looking for longs is probably the way to go but bulls only produced one single bull bar in the past 2 weeks. Need more buying pressure before looking for higher targets. I won’t touch it for now. Quote from last week: comment: The most likely outcome was a continuation of the trading range and that’s what we got. Bears are on their way to test 67 again and the market now have formed a head & shoulders pattern like in August where we broke down to make new lows. Most h&s patterns fail and are just continuation patterns. We will likely get the answer to that next week. Anything between 68 and 70 is a dead zone and I will only be interested in longs around 67, if bulls come around again. Shorts do not make sense below 70. comment : Bulls are not doing enough but bears are also barely making new lows. Market is mostly two sided and stuck inside an 8$ range for 2 months. Don’t over analyze it. current market cycle: trading range key levels: 65 - 73 bull case: I won’t make up stuff here. Market has no direction for years now and the range is contracting. Bulls want to stay above 66 and test the upper bear trend line around 70 again. That’s about it. Invalidation is below 66. bear case: Bears are in control but it’s clearly a very weak trending trading range. We are inside nested triangles on higher time frames and selling below 67 has not been profitable for more than an intraday scalp since mid 2023. It hasn’t been profitable to get bearish below 67 for that long, why would you now. Invalidation is above 71.6. outlook last week: short term: Neutral 68 - 70 and I doubt we make lower lows below 66. Even if bears push below, downside is likely limited. → Last Sunday we traded 68 and now we are at 67.2. Good outlook but trading ranges are not rocket science. short term: Neutral 68 - 70 and I doubt we make lower lows below 66. Even if bears push below, downside is likely limited. Can’t change much of last weeks short term outlook, since it’s still valid. Bears have targets below 66 but until they get a daily close below it, we continue sideways. medium-long term - Update from 2024-11-10: Unless an event comes up, this will very likely close around 70 for the year. current swing trade: None chart update: Nothing worth mentioning. Again.
NYMEX:MCL1!
by priceactiontds
USOIL Technical Analysis! BUY! My dear subscribers, This is my opinion on the USOIL next move: The instrument tests an important psychological level 67.10 Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 68.19 My Stop Loss - 66.46 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCK
TVC:USOILLong
by AnabelSignals
1
CRUDE OIL Weekly Forecast: Bearish! Wait for SHORTS!Price has traded through the low @67.71, indicating a shift in the market from bullish to bearish bias. There is an untapped imbalance above @67.87, an Internal Liquidity target. As we know. price seeks liquidity from External liquidity (lows and highs) to Internal Liquidity (FVGs). So the idea here is to wait for the pullback into the -FVG/imbalance and look for valod short setups, targeting the lows @66.98 and 66.50. 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.
NYMEX:CL1!Short
by RT_Money
USOIL Will Go Higher From Support! Buy! Please, check our technical outlook for USOIL. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 67.101. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 68.230 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!
FX:USOILLong
by SignalProvider
2