Today's crude oil trading analysis
Today's crude oil trading analysis
Yesterday, crude oil continued to fluctuate upwards, and the second time it tested high, it looked around 80.7, but it has not yet formed a breakthrough. The recovery range in late trading was within 80.0, and the daily closing line had an upper shadow line, which is still in the stage of shock and rise. At this stage, it is being set The upper track of Linguan is oscillating and is expected to break through the upper track.
From the daily chart, crude oil is expected to continue to fluctuate upward along the upward trend line in the short term. In the short term, buy at low prices.
Recommendation: Buy crude oil at $79.6
TP 80.5
SL 78.6
Usoilforecast
USOIL H4 / Long Trade Opportunity ✅💲Hello traders!
This is my idea related to USOIL H4. I expect the USOIL to go bullish after the retracement from the OB and supply area.
Traders, if my proposal resonates with you or if you hold a divergent viewpoint regarding this trade, feel free to share your thoughts in the comments. I welcome the opportunity to hear your perspectives.
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The rules for making money in oil in the short and medium term From the four-hour chart of crude oil, oil prices are still in the rebound stage. Mainly fluctuating and rising, it continues to test the upper edge of the channel. Judging from the past background of this round of testing, the accumulated momentum is sufficient, and the mid-term trend will mainly be upward.
The short-term support is mainly strong support from OPEC production cuts. The demand for oil prices has increased significantly, and geopolitics has once again consolidated the status of this hard currency. If the dollar falls due to some economic fallout, oil will rise even faster. Trading on March 4 was dominated by buying at low prices. Buying transactions can be conducted near the price of 80. If you are a mid-term trader, you can buy at low prices in batches. The target position for this week is above 83. Whether you are a mid-term trader or a short-term trader, you need to pay attention. You can stop trading after making a profit. Prevent profits from blowing back and causing losses at the same time.
This price is based on the tradingview oil price as a reference.
Accurate prices and trading opportunities for real-time trading. Stay tuned. TVC:USOIL FX:USOIL FOREXCOM:USOIL GBEBROKERS:USOIL FX:USOILSPOT BLACKBULL:USOIL.F
Usoil-Will it break through the highs?
Recently, the output of U.S. refineries has dropped sharply, U.S. crude oil inventories have declined, and sanctions on Russia have gradually increased pressure on the import side. At the same time, attacks on U.S. and other ships in the Red Sea continue.
As can be seen from the 4H chart, oil has been supported many times, but it has not broken through the important resistance point 79.3, so it is still in shock.
But we need to adjust our thinking. Based on the current news, the rise of oil is still very strong, so we can wait for the support point to buy and observe whether it will break through the high point.
USOIL
It appears that USOIL is poised for a bearish trend following its completion of the fifth Elliott wave within an ascending channel and a double top pattern formation. The recent breakout from a rising wedge suggests a potential continuation of this downward movement. Traders may consider selling positions as the technical indicators align with this bearish outlook.
Crude oil analysis, focus on 76.5~78.5From the daily analysis, crude oil is currently in the range of 71.5-78.5. The daily level has not broken through and stabilized at 78.5, but is still in shock. Below is the support of 76.5-75.4. Trade based on this range first. If the price breaks through 78.5, and Oil prices above 78.5 will see further room for growth
USOIL - Look for a long ✅Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for a long. I want price to make a retracement to fill the imbalances lower and then to reject from bullish order block + trendline.
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USOIL Sell Setup🚨 Crude Oil #WTI
🗓️ Date: 12 February, 2024
⏰ Timeframe: Daily
💡 Given in the chart –
♦️ Green (long term support) = 67.50
♦️ Red (resistance) = 78.85
The price has been in the range (red color) on the chart since December last year. Price touched this range several times but failed to deliver a breakout. As long as this range remains active, the potential trend will be neutral.
✅ Those who like to trade in Crude Oil, please take Buy position near the support level of the range and Sell position near the resistance level. That is, bounce trading strategy
✅ As long as the price is not able to break this range, you can accept entries according to this pattern.
🚫 Remember, while staying within the range, no Buy/Sell entry can be taken in intermediate positions. Either let the price approach the resistance level or the support level, then take a reversal entry.
Crude oil has an obvious upward trendDuring the day, focus on the support near 76.70 to maintain a bullish attitude. The situation in the Middle East is currently escalating, and the probability of crude oil rising in the market outlook is relatively high. Above, focus on the resistance of 78.40/79.3
USOIL:Continue longHello friends, Luke here again. As a recipient of several regional trading awards, I'm excited to be part of TradingView where I can share my strategies with you daily, hoping to be of assistance.
I've previously emphasized a bullish target for crude oil at $80. Currently, the upward trend is clear, and dips should be seen as opportunities to go long. The buying zone to focus on is between $77.6 and $76.
I update my market analysis daily and also share precise trading signals within my exclusive group, Luke's Circle, to help you achieve steady and long-term profits in your account. Don't miss out!
OIL: Red Sea tension could support Oil price in short term🔴 Oil jumped as the US and its allies launched airstrikes against Houthi rebels in Yemen, retaliating for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway.
President Joe Biden said strikes had been conducted against a number of targets used by the Iran-backed group, with US officials saying radar sites and missile launchers were hit. A tanker industry group said military forces in the region were advising ships to avoid a key chokepoint near Yemen. The Houthis said all US and UK interests are now legitimate targets.
🔴 The main upside risk for prices concerns Iran and whether it’s drawn directly into the conflict, which could threaten oil supply in a region that produces a third of the world’s crude. The war-risk premium had previously been easing amid ample output from non-OPEC+ producers and slowing demand growth.
🔴 From our point of view, geopolitical tensions could support Oil Price in the short term, and from a technical point of view, our first Target is just below $80.
Trade with care
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USOIL: Continue to Go Long Next WeekHello, friends. I'm Luke, a former champion trader in multiple regions, and I'm delighted to join TradingView to share my strategies with you every day, hoping to provide assistance.
This week, I've analyzed that crude oil is expected to continue rising to the range of $78-80 per barrel. Today, it has reached a high of $77.5 per barrel, and I remain optimistic about the future upward movement of crude oil. If it retraces to the range of $73-75 per barrel, consider going long once again!
I update my market analysis daily and also send accurate trading signals within Luke's small group to help stabilize and sustain profitability in your accounts. Don't miss out!
Crude oil’s short-term uptrend on TuesdayGlobal energy markets continue to be rattled by the growing likelihood of supply constraints, with successful attacks in Ukraine on Russian oil infrastructure highlighting how easy it is to disrupt broad energy supply chains. WTI tested multi-week highs on Monday as market tensions mounted.
The short-term (1H) trend of crude oil has recovered, and oil prices have broken through the resistance at the upper edge of the triangle. The moving average system is gradually arranged in a long position, and the short-term objective trend is upward. Pay attention to the strength and continuity of today's rise in oil prices, and it is expected that there is a high probability that the rise will continue during the day.
usoil: Expected to Rise to $80 in the FutureHello friends, I'm Luke, a former champion trader in multiple regions. I'm excited to join TradingView and share my strategies with you every day, hoping to provide assistance.
Crude oil has established a bottom around $70, and those who bought in heavily near this level have already reaped substantial profits. Personally, I anticipate oil to stabilize around $80 in the coming month, with any further declines seen as buying opportunities.
Key support levels to watch are $72-$70. Buying can be considered upon reaching this area, with target levels focused on $76-$78-$80.
I update market analysis daily and also send accurate trading signals within Luke's small group to help ensure the long-term stability and profitability of your account. Don't miss out!
USOIL - Look for a long ✅Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: As we can see here price changed the character after taking sell side liquidity and started to form higher highs and higher lows. Now I look for a long position if price makes a retracement to fill the imbalance and then to reject from bullish order block.
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Crude oil continues to fall, the short-term outlook is 70~70.5Selling near 71.6 in the morning has already made a profit of 60pips.
In terms of crude oil, we will pay attention to the resistance of 72.20-72.30 during the day. The support below needs to be towards 70.90. If it falls below, it will continue to fall by 70~70.5. Original post: The current trend is dominated by bears.
Usoil-Range trading analysis
The U.S. EIA crude oil inventory unexpectedly rebounded. Although oil-producing countries such as OPCE+ and Saudi Arabia are fully confident in stabilizing the crude oil market, the market performance is poor and the demand side is relatively weak. As a result, oil is currently in a range-bound state.
Usoil:sell72.75-73.1
TP:72.3-72
SL:73.3
In volatile market conditions, control positions reasonably and set SL
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