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Usoilanalysis

#USOIL 1DAYUSOIL 1 Day Trade Opportunity Buy Opportunity: Buy Level: 66.500 Target Levels: 67.500 / 68.500 / 69.500 / 71.500 Description: Today's analysis of USOIL (Crude Oil) suggests a promising buy opportunity. With the current price at 66.500, the market shows potential for upward movement. Consider entering a long position at this buy level. Target Levels:- 67.500: Initial target level where short-term gains might be realized. 68.500: A subsequent target indicating continued bullish momentum. 69.500: An intermediate level that may act as a resistance point but offers a chance for profit-taking. 71.500: The final target level, which represents a more extended bullish move. Monitor the price action closely around these target levels for potential exit points or adjustments to your trading strategy. As always, ensure to implement proper risk management techniques.
FX:USOILLong
by PIPSFIGHTER
USOIL / UNDER BULLISH PRESSURE - 4HUSOIL / 4H TIME FRAME HELLO TRADERS currently prices trading above turning level at 78.74 , overall under bullish pressure. In order for the price to reach 71.59, it first needs to establish a period of stabilization above two critical levels: 68.74 and 69.98. These levels act as key support zones, signaling strength in the market if maintained. Once stability is confirmed above 69.98, upward momentum is expected to build, pushing the price toward 71.59. If this bullish trend continues, the price may extend further, reaching the next target at 74.24. However, if the price fails to hold above 68.74, it indicates weakening bullish momentum, and the market may shift towards a downtrend. In this scenario, breaking the turning level at 68.74 could trigger a decline toward 65.35. A more pronounced drop could push the price even lower if this support level is breached. TURNING LEVEL : 68.74
TVC:USOILLong
by ArinaKarayi
3
USOIL / TRADING SENSITIVE AREA - 4HUSOIL / 4H TIME FRAME HELLO TRADERS In the last chart as mentioned rising and reached +100 pip profit. Currently, prices are trading above 68.74. As long as they remain and stabilize above this level, a rise toward 69.98 is expected. To confirm an uptrend, prices need to break above 69.98, potentially reaching 71.59. On the downside, if prices stabilize below 68.74, a decline toward 65.35 is anticipated, and if they fall further below this level, they could reach 63.67. TURNING LEVEL : 68.74
TVC:USOILShort
by ArinaKarayi
USOIL / TRADING ABOVE SUPPORT LEVEL - 4HUSOIL / 4H TIME FRAME HELLO TRADERS The First Scenario , The support level at 65.35 acts as a critical threshold; as long as prices remain above it, buyers dominate, pushing the price towards 68.74 and then 69.98. This rise reflects increased confidence in an uptrend. For the trend to be fully confirmed, prices must stabilize above 69.98, signaling sustained momentum, which could lead to a further increase to 71.59. The Second Scenario , if the price breaks below 65.35 and stabilizes, it indicates a shift in market sentiment, with sellers gaining control and potentially driving the price down to 63.35, followed by 62.65 This technical analysis underscores the importance of price levels in predicting future market movements and investor behavior. UPWARD TARGET : 68.74 , 69.98 , 71.59 . DOWNWARD TARGET : 63.35 , 62.65 .
TVC:USOILLong
by ArinaKarayi
USOIL / UNDER UPWARD PRESSURE - 4HUSOIL / 4H TIME FRAME HELLO TRADERS USOIL is currently trading above the turning level of 67.09 and remains above the support trendline, indicating upward momentum. There are two potential scenarios: The First Scenario , USOIL's trading above 67.09 and staying above the support trendline signals strong buying interest, which suggests upward pressure. The target of 69.98 is a logical resistance level, followed by 71.59, which marks the next significant zone. Stabilization above 71.59 and 72.20 would confirm the strength of the uptrend, as breaking these levels would show that demand is outpacing supply, leading to further price gains. The Second Scenario , If USOIL fails to maintain the 67.09 level and closes below it on a 1-hour or 4-hour chart, it indicates bearish momentum. This would increase the likelihood of a decline toward 65.35 and 63.67, the next significant support levels. A break below 65.35 could trigger a stronger downtrend as it would suggest sellers are gaining control, particularly if the price falls below the descending channel, reinforcing the bearish sentiment. KEY LEVELS : Turning Level : 67.09. Resistance Levels : 69.98 , 71.59. Support Levels : 65.35 , 63.67.
TVC:USOILLong
by ArinaKarayi
Durian prices fall on concerns over Tropical Storm FrancineUSOIL: Oil prices in today's session have appeared a reversal candlestick pattern on the H4 frame. The $68 area is also a good support area for Oil prices, so you can consider buying USOIL around this price area. The short-term target can be expected to return to the $71 area. Oil charges persisted to fall on Wednesday on worries that a typhoon anticipated to hit Louisiana on Wednesday will disrupt manufacturing and refining alongside the U.S. Gulf Coast. In the United States, oil and fueloline manufacturers alongside the Gulf Coast have all started evacuating team of workers and proscribing drilling operations in education for Tropical Storm Francine because it movements throughout the Gulf of Mexico. The U.S. National Hurricane Center forecasts Francine will give a boost to right into a typhoon on Tuesday earlier than hitting the Louisiana coast. The Gulf Coast bills for approximately 50% of the country`s refining capacity, in step with the U.S. Energy Information Administration (EIA). "Prices are seeing a moderate recovery... at the caution of a typhoon that would threaten the U.S. Gulf Coast, however the broader dialogue stays centered on call for and what OPEC+ can do," stated John Evans, an analyst at PVM. OPEC+ consists of the Organization of the Petroleum Exporting Countries (OPEC) and allies together with Russia. In OPEC member Libya, the country's National Oil Corporation has declared pressure majeure on a few crude oil cargoes being loaded from the port of Es Sider, as oil output is confined via way of means of a political dispute over the significant financial institution and oil revenues. The OPEC+ organization of oil manufacturers has agreed to put off a deliberate 180,000 bpd manufacturing boom in October for 2 months in reaction to the pointy drop in crude charges. Analysts stated investor optimism approximately a gentle touchdown state of affairs for americaA economy, wherein inflation is contained with out a recession or sharp upward push in unemployment, additionally helped aid crude charges. The US authorities is scheduled to launch a key inflation document later this week. "A recession withinside the US isn't inevitable, however the Federal Reserve wishes to begin reducing hobby costs speedy and aggressively to keep away from it," stated James Knightley, leader worldwide economist at ING.
TVC:USOILShort
by TheLeader_WOLF
USOIL / TRADING ABOVE DEMAND ZONE IN THE DAILY CHART - 4HUSOIL / 4H TIME FRAME HELO TRADERS The overall trend is uptrend , until trading above demand zone in the daily chart . Current Position Prices are above the demand zone, which is a strong support area. This indicates that the current support level is holding and may lead to a price increase , For an uptrend to be confirmed, prices need to break and stabilize above turning level at 71.82 . Successfully doing so suggests that the bullish momentum is strong enough to push prices towards the next resistance levels at 74.24 and then 76.21. If prices fall below 71.82 and stabilize, it indicates that the support level is no longer effective, potentially leading to a decline , If prices reach 69.18 and a 4-hour or 1-hour candle closes below this level, it suggests a continuation of the downtrend. A further break and stabilization below 68.28 would confirm a sustained bearish trend, indicating further price decreases. KEY LEVELS : TURNING LEVEL : 71.82 . RESISTANCE LEVELS : 74.24 , 76.21 . SUPPORT LEVELS : 69.18 , 68.28 .
TVC:USOILLong
by ArinaKarayi
Long USOIL, short XAUUSD It's Thursday, and today is expected to be a highly volatile day in the markets. OIL has the EIA data release, while gold will be affected by the ADP employment report and initial jobless claims data, both of which will likely have a significant impact on price movements. Based on the already released API data, the upcoming EIA data is highly likely to be bullish for OIL. Therefore, the primary trading strategy today should focus on buying on dips. As I previously pointed out, both candlestick patterns and other indicators show clear signs of a bottom formation in oil prices. So, barring any unexpected events, today should be a day of gains. As for gold, with two important data releases today, I expect one to be bullish and the other bearish, primarily setting the stage for Friday’s NFP report. Therefore, today's trading range is expected to widen, with resistance around the 2506-2514 zone and support in the 2468-2452 region. From an overall perspective, short positions at higher levels offer better risk/reward potential. Hence, today's strategy should be to short first, then look for long opportunities on a pullback, and once the market rebounds, resume short positions after the upward move.
OANDA:XAUUSD
by Mia-Signal
USOIL Weekly - Key Buy and Sell LevelsOn the weekly chart for USOIL , we’re observing significant levels that could dictate future price movements. The green lines mark potential buy opportunities where price might experience bullish support. Conversely, the red lines indicate critical sell zones where bearish pressure could come into play. These levels are essential for long-term trading strategies and market analysis. Disclaimer: Trading involves risk, and past performance is not indicative of future results. Always conduct your own analysis before making any trading decisions. If this post generates enough engagement, I’ll provide updates and additional insights to it. Feel free to comment, share your thoughts, and follow for more comprehensive trading analysis!
FX:USOIL
by Remora_traders
USOIL / STILL CONTINUES A DOWNTREND - 4HUSOIL / 4H TIME FRAME The overall trend is downward , until trading below turning level at 71.85 . The significant decline in USOIL prices yesterday suggests a bearish momentum, which aligns with the observed price action falling below the critical level of 71.85. This indicates a continuation of the downward trend, making the next support level at 69.81 a logical target. If prices break this support, it would likely trigger further selling pressure, leading to declines toward 68.46 and 66.85, which are key levels of interest based on previous market behavior. On the other hand, for a reversal to the upside, the price needs to break back above 71.85, which currently serves as a turning point. Breaching this level would signal a potential shift in market sentiment, opening the way to test the resistance at 74.24. If the price stabilizes above this resistance, it would reinforce the bullish case, paving the way for further gains toward 76.21 and eventually 77.51. KEY LEVELS : TURNING LEVEL : 71.85 . RESISTANCE LEVELS : 74.24 , 76.21 , 77.51 . SUPPORT LEVELS : 69.81 , 68.46 , 66.85 .
TVC:USOILShort
by ArinaKarayi
USOIL / TRADING BELOW FVG AREA - 4HUSOIL / 4H TIME FRAME The overall trend is downward , until trading below FVG . As long as prices stay below the turning level of 74.78, a decline is expected, potentially reaching the support level (1) at 73.03, and then 71.51. However, if prices break above the turning level and close a 4-hour candle above it, the trend may shift upward, with potential to reach the resistance level at 76.18. Breaking this resistance could lead to further gains, targeting 77.52. KEY LEVELS : TURNING LEVEL : 74.78 RESISTANCE LEVELS : 76.18 , 77.52 SUPPORT LEVELS :73.03 , 71.51
TVC:USOILShort
by ArinaKarayi
[2024.08.28 Wednesday Market Analysis and Opportunity Insight]Hello traders, In the realm of commodity trading, market fluctuations often align with the influx of information. Nevertheless, as we near the end of the month, a distinct pattern emerges: news tends to quiet down and data liquidity diminishes. During this period, analogous to calm waters in the market, lies both a challenge and an opportunity. This juncture not only tests a trader's training, sagacity, and skill, but also assesses their resilience. This week marks the final trading week of August, with extremely scarce news and limited data, indicating a collective anticipation for the September non-farm payrolls data and the interest rate cut scheduled for September 19th. Given the dearth of news, it would be advisable to rely more on technical analysis. 1. Concentrate on support and resistance levels, along with technical indicators like moving averages and RSI. 2. Decrease trade sizes and establish reasonable stops. Under conditions of limited information, the market could be more vulnerable to unforeseen events. 3. Monitor trading volume: Variations in trading volume may signify price direction. Low trading volume could denote market indecision, while a sudden surge in trading volume could indicate a significant movement. 4. In the absence of short-term information, it may be apt to emphasize and trade in accordance with the long-term trend. 5. Be patient. Refraining from trading when signals are unclear is also a viable strategy. Avoid forcibly engaging in trades due to inactivity. As advised on Tuesday, the market sentiment for crude oil remains unchanged, and it's recommended to await a pullback position for considering a new single position. On the 4-hour chart, a retracement target between FIBO 382-618, within the 75.3-73.8 range, is viewed as necessary for the preceding upward wave's retracement. Please refer to Figure III. P.S. On Wednesday, TP3 /TP4was included as a retracement target, near the 73.80 range. BEST WISHES! LEAN MEANS MORE!
TVC:USOILShort
by FUNTRADER-Vera
USOil WTI Technical Analysis and Trade IdeaThe current USOil chart exhibits clear signs of price overextension, with the asset pushing into a critical resistance zone. Given this technical setup, a retracement appears probable. My strategy involves seeking a long entry, but only if the price experiences a pullback to the key Fibonacci retracement levels, specifically targeting the 50% to 61.8% zone. It's crucial to contextualize this analysis within the broader macroeconomic landscape. The recent Bank of Japan rate hike has injected significant volatility into global markets. We must anticipate and account for potential continuation of these heightened volatility conditions, as they could materially impact price action and risk management parameters. This technical and fundamental confluence presents a compelling setup, but as always, proper risk management is paramount. Traders should conduct their own due diligence and consider their individual risk tolerance before executing any positions. Disclaimer: This analysis is provided for educational and informational purposes only. It does not constitute financial advice or a recommendation to enter any specific trade.
TVC:USOIL
by fxtraderanthony
1
USOUSD (WTI Crude) strong bullish move likely … week of 26 AugA ‘hammer candle’ is one of my favorites and we can see a nice one in the weekly chart of oil. It also appears at a major support (73.00) and at a rising trend line. If you are not a fan of the hammer candle like I am, just look left on my chart and see what happened in the past when this candle appeared. But “when” to trade is always a question, directional bias is only a part of our decision making. I will, first of all be looking for USD weakness and CAD strength (correlation). Monitoring PA on the H4 and H1 is always a good idea too. Evidence of bullish PA would justify taking a long trade. However, if a move to the downside forms, that would negate my analysis. This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!! It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
EIGHTCAP:USOUSDLong
by Trading_Vista