USOIL TRADE IDEA Long (31/10/2023)On the weekly timeframe, USOIL has already reversed into a buy, breaking significant structures. I believe it'll keep seeking out buys.
The daily time frame confirms that too - with current weakness showing in order to gather liquidity to complete the long move.
In terms of where it'll react from - that depends on the structure it breaks. If it breaks (Likely and best situation) POI 1, then expect it to return to POI 2 and to react off of there.
I expect price to return to POI 2 because using the Fib tool, you shouldn't be looking for trades at 50%, rather around 60-75% or the inverse 0-25/35%.
Target profit 1: 93.75
Target profit 2: 101
NOTE: This is not financial advice, please do your own research and be aware that any risks are being taken solely by you, the individual.
Usoillong
USOIL: This week's summary and next week's trading ideas
The deteriorating outlook in Europe has left oil traders wondering whether global oil demand will remain resilient next year. On the other hand, the US third quarter GDP data exceeded expectations and continued to deliver strong economic growth. A higher dollar and an uncertain economic outlook seem to be haunting oil. Oil prices rose on Friday on fears that tensions between Israel and Gaza could spill over into a wider conflict that could disrupt global crude supplies.
U.S. West Texas Intermediate (WTI) crude rose $2.33 a barrel, or 2.8 percent, to settle at $85.54 a barrel. "From a macro perspective, global supply is tight relative to demand, which is the result of general underinvestment across the industry after the pandemic, so spare capacity today is limited and prices will move with demand because there is not a lot of short-term capacity that can come to market," Darren, CEO of ExxonMobil Oil, said in an interview. So as long as the market stays tight, you're going to see more volatility and higher prices.
On the whole, crude oil next Monday's opening operation is suggested to retreat to do more on the dips!
If you are confused about trading, please join me, I believe you will have a great harvest!
The 1. Chapter of WTI.Oil - Highly flammableTwo scenarios. One Long. One Short.
Fundamentals:
-
Scenario 1 (Orange arrow)
Target: Next resistance level (upper red rectangle ). Recent swing top.
Requirments:
- Monthly close above the orange rectangle.
- Higher swings above it
Invalidation / SL:
- Fall under orange rectangle AND generating lower swings.
Time duration: days, weeks, months, years... ;)
Scenario 2 (blue arrow)
Target: Next support level
Requirments:
- break under orange rectangle
- break under 50% fib
Invalidation / SL:
- Break above orange rectangle
- No Break under 50% Fib
Time duration: days, weeks, months, years... ;)
Good luck
USOIL (WTI) BUYING ON DIPS HELLO TRADERS,,,
As i can see this chart of USOIL it is moving same as we had predicted in our previous analysis
Israeli & Gaza War Tensions are driving Gold and Oil prices in bullish trend and we can see a Wyckoff Pattern on the base of technical view the support is holding the price of oil and i am expecting it will boost to the upside for completing this technical pattern...
History will repeat, like the 1973-1974 war, where all the Arab countries stopped the supply of OIL. Can we see the same thing in 2023-2024 as war is at its peak? If the same happens, the OIL price will shoot to 120-130 barrels directly .
this is just an trade idea with Technically + Fundamentally view Kindly share Ur thoughts on US OIL so it will help alote traders community we appreciate Ur love and support
Stay tuned for more updates
USOIL: Crude oil opened lower
Today, crude oil opened lower, after a high of 88.1, crude oil fell in shock. Overall, crude oil is still down in the short term, the operation is recommended to withdraw to near the 85.6 support level, and the above is concerned about the resistance near 88.3-90.
If you are confused about trading, please join me, I believe you will have a great harvest!
Crude oil trading tips last week
Crude oil opened at around 87.8 and ended at around 88.2 last week. The overall trend of crude oil last week was bullish. We look at the price changes of crude oil with an upward trend. We can see that the greater the downward adjustment, the more the price increases, and the objective trend enters sideways. To summarize, the current price in the sideways range is beneficial to traders, which is in line with the trend following method. We only need to buy at low points according to the overall upward trend. If the price breaks up and down, we will use the turtle trading rule.
The above is a review and analysis of last week’s crude oil trading. If you need more content, please join me.
2010 USOIL is on a very strong uptrendHello traders,
Lets review this weekly outlook first.
This week, we were expecting weekly trend to be continued.
And it is continuing with a fice-wave trend here.
Check this right chart first, you can see that I am assuming wave 2 is still ongoing with lower 5 WAVES( RED).
Oil could eventually hit last high and breakthrough to make a new high next week.
GOOD LUCK ON PLANNING TO BUY.
LESS IS MORE.
Crude Oil: Planning Strategies Today
Through the analysis of the hourly chart of crude oil, we know that the market rose first and then fell yesterday, forming a shock upward breakthrough trend yesterday. By comparing with the previous period, we already said last week that we expected to form a bullish trend. When the high level fell in the early period, all the moving averages began to turn around. The downward movement forms a turning point from bull to bear. From the formation of a wave of decline, all the moving averages have formed a bull trend. All the moving averages below are supports, and the MACD below has always been running above the zero axis. The market is very likely to make further upward breakthroughs. In terms of operation, we continue to think high and low and focus on going long on dips and shorts. The specific suggestions are as follows:
Crude oil 90 and 91.50 are long respectively.
Crude oil is short at 95.0 and 95.6 respectively.
USOIL: Oil today analysis
The International Energy Agency (IEA) said on Thursday that geopolitical risks in the Middle East have escalated following Hamas attacks on Israel, with oil markets on edge and uncertainty about how things will play out or how far the conflict could spread. In its closely watched oil market report for October, the IEA said: "A sharp escalation of geopolitical risks in the Middle East is keeping markets on edge. The region accounts for more than a third of global seaborne oil trade.
Oil prices surged on Monday after attacks by Hamas against Israel reignited tensions in the Middle East and the war premium reappeared in the market. Crude oil market yesterday morning opened at 83.21 US dollars/barrel, after the market first pulled up, the daily peak reached 85.28 US dollars/barrel, after the market fell strongly, the daily minimum to 82.35 US dollars/barrel
Short-term strategy reference: high probability scenario: bearish below 85.6, target 83.2-82.5; Low probability scenario: Bullish above 85.6, target 86.5-87.2
USOIL: Today's crude oil analysis and operation
Crude oil yesterday's typical interval arrangement, the highest 86.7, the lowest 85, the daily line closed small Yin at 85.9, the four-hour chart of the large interval, the top 87 will be an important resistance point in this interval, the lower focus on the 84 break, the breakthrough will fill the gap; From the point of view of the 1-hour line, the lower focus on the 85 support situation, coupled with the current Palestinian-Israeli conflict, may have a certain impact on oil prices, and the day is mainly low and high
The specific layout is as follows:
(1) below see 85/85.3 long, loss 84.5, target 86.2-86.5 break on the look
(2) Above, focus on the breakthrough of 87
USOIL: Oil today analysis
The crude oil on Monday swung back to 84.8 after moving higher, yesterday's high open gap after the repair of the inter-zone is not large, due to the international environment, the potential of the ground edge, the recent period can be maintained much lower, Stay in the day 85.4 attached near many, the upper side 87 attached near can be empty.
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USOIL: Oil today analysis
The outbreak of the Israeli-Palestinian conflict, if more forces are involved in the subsequent, the Middle East oil producers may be directly affected, crude oil production may be in short supply, and oil prices may rise more sharply. In the outbreak of the war between Russia and Ukraine last year, the oil price rose sharply from $90 to the highest price of $130, and it took half a year to return to the $90 line. In summary, the current turmoil in the Middle East has attracted much attention, and the limelight has overshadowed the OPEC+ production cut plan, and the follow-up trend needs to be paid close attention.
Crude oil fell sharply to $81.50 last week, the direction of the daily bullish line has not changed, if the resistance level of $89 above the smooth stand, the rally can be expected. In the evening, focus on the support of the $84.1 line, if it breaks down, it may test the strong support level of $81.5. High probability scenario: bullish above 84.1, target 87.1-88.2; Low probability scenario: Bear below 84.1, target 83.0-81.5.
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USOIL - Bullish price action ✅Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: As we can see here we are in a bullish market structure from daily perspective, so price filled the imbalances and then rejected strongly upside. Expect bullish continuation here.
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USOIL's trend remains rising.If the United States tightens sanctions on Iran, analysts at Commonwealth Bank of Australia (CBA) estimate that about 0.5-1.0% of global oil supply may be affected, which would push Brent crude oil prices above $100 per barrel.
A further risk is whether Iran will try to disrupt oil shipments through the Strait of Hormuz, through which 15-20% of the world's oil supplies pass.
The continued rise in oil prices will have a negative impact on inflation, but it will also impose a burden on consumers, so the impact on interest rates is not direct.
Crude oil, rebound and pullback
WTI crude oil has fallen in five of the past six trading days, falling by more than 13%, giving up all gains since September. Oil prices have now fallen back to key support near $82.0. The U.S. non-farm payroll data for September will be ushered in today, and short-term fluctuations in oil prices are expected to further intensify.
Looking at the daily chart of crude oil, oil prices stopped rising at the high of 95 and entered a correction state, with the K line being negative for three consecutive years. Although oil prices have not yet fallen below the moving average system, the current mid-term objective still maintains an upward trend. But from the perspective of kinetic energy, a change occurred first, and the bears gradually became stronger. It indicates that the mid-term trend is expected to enter a large-scale adjustment pattern. The K-line fell below the support of the moving average system. The original mid-term rise ended in stages, and it is expected to usher in a larger wave of correction.
Strategy: long at 81.5, short at 82.4
USOILCrude oil prices have fallen sharply and the trend has entered a bearish adjustment phase. The price is currently around $84.00, with strong downward momentum. If the decline continues, a break above the $80.00 support is possible. For now, traders will wait for a bullish reaction near the support and an opportunity to enter long positions.
Today, focus on the support level of 80.00 below and the resistance level of 90.00 above.
Look For Buying UsOil Here’s my opinion regarding oil market. I am still looking for the buy with clear invalidation level, below 77.55. Target all the way up to above 90 level again.
The entry optionals are :
1. I imbalance area
2. II imbalance area
3. Ob zone.
Risk management is everything.
May the pips ne with u.