USOIL 71.07 +2.57% SHORT IDEA MULTI-TF ANALYSISHELLO TRADERS
Hope everyone is doing great
📌 A look at USOIL from HTF - MULTI TIME-FRAME ANALYSIS
USOIL DAILY TF
* Last week saw a bearish close with the weekly FVG holding & beautifully rejecting, looking for a retest of this PD ARRAY before continuation down.
* The sentiment is still strongly bearish for OIL from HIGHER TF perspective.
* The weekly & daily TF show we are still trading in a range on a bearish trend towards that ERL.
* The picture is clearer with strong bearish moves from the daily, looking for some retracement.
* some volume imbalance left behind on lower TF might confirm this move.
* possibly to be filled before we take that ERL.
USOIL 4H
As we head lower we see some bearish potential for some retracement.
* With the week to opening Bearish (PO3) could see bearish move into the VI.
* sentiment the same on the hourly tf.
* This rally with the bulls & strong momentum to the down side could see some reversal.
looking for some signs of this on todays price action.
* LETS SEE HOW THE MARKET DISHES
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Usoilshort
UsOIL Long Buy due to lower Support Hello Traders
In This Chart XTIUSD HOURLY Forex Forecast By FOREX PLANET
today XTIUSD analysis 👆
🟢This Chart includes_ (XTIUSD market update)
🟢What is The Next Opportunity on XTIUSD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Continue to short crude oilDear traders, you need to be cautious when trading. You must set stop loss and take profit for each transaction. This can better protect your account from being stuck. I will continue to update the crude oil trading strategy.
API data crude oil inventory is bearish. So far, the market has not responded to the API data. That is to say, the EIA in the evening is also likely to be bearish. The continuous rise in the past few days mentioned yesterday is the abc three waves after the end of the 5th wave. Lao Li re-looked at the market today and saw that it was a 4-wave rise. The US$64.61 is the end point of the main decline of the 3rd wave. The starting point of the three waves is US$79.70. Of course, this number of waves is valid at present. Once the situation in the Middle East continues to escalate, the market will inevitably break through the starting point of the 3rd wave of US$79.70. Therefore, we must follow the real-time fluctuations of the market at any time to update the number of waves in real time. So today, Lao Li will not consider whether the situation in the Middle East will escalate, because we can't know when these guys in the Middle East will make moves again. As soon as we see the news of the start of the fight in the Middle East, we will stop shorting immediately and follow the news to make a short-term long. Therefore, today's idea is still mainly to take risks and short.
1. Go short at $75.30, stop loss 30 pips, take profit $72.50. (Short aggressively at $74.80)
2. Go long at $72.20, stop loss 30 pips, take profit $73.70.
3. If the short position of strategy 1 is stopped out, go short again at $76.15, stop loss 30 pips, take profit $74.
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Bearish reversal off overlap resistance?USO/USD is rising towards the resistance level which is an overlap resistance that is slightly below the 61.8% Fibonacci retracement and could reverse3 from this level to our take profit.
Entry: 73.07
Why we like it:
There is an overlap resistance level that is slightly below the 61.8% Fibonacci retracement.
Stop loss: 74.94
Why we like it:
There is a pullback resistance level that aligns with the 78.6% Fibonacci retracement.
Take profit: 71.15
Why we like it:
There is a pullback support level that aligns with the 38.2% Fibonacci retracement.
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USOIL - Long from trendline !!Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a bullish market structure from daily timeframe perspective, so I look for a long. I want price to continue the retracement to fill the imbalance and then to reject from OB + trendline.
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Oil Prices in Stagnation: A Moment to Await the ReboundSince the recent sharp decline, the movement of oil prices has been notably flat compared to gold, leaving many of us feeling quite exasperated. Is it really true that oil prices won’t rebound after such a drop? Are you, like me, growing increasingly impatient?
I believe we should exercise a bit more patience; today, oil prices should be able to rise above $72. I always remember the saying: “The longer the sideways movement, the greater the potential up or down movement.”
This means that the duration of a sideways consolidation will determine the magnitude of the subsequent rise or fall.
Let’s continue to be patient and anticipate the moment of oil price rebound.
USOIL: BUY
Oil prices have experienced a significant decline due to recent news, with the market oscillating within established support zones. Today's API data is bullish; however, it has not resulted in a notable price increase, nor has it breached the support levels.
As the EIA data release approaches, the likelihood of a positive impact remains high, suggesting a potential for a substantial upward movement. Our trading outlook leans towards buying, positioning for an anticipated rally in oil prices
W-Formation in USOIL Signals a Strong Bullish Opportunity
USOIL has formed a classic W-bottom pattern, with the only remaining resistance around the MA30. There is a high probability of a breakout, making this an ideal time to go long.
If you have been holding a long position and were concerned about it, congratulations—you're likely to see a favorable outcome soon. Moreover, if your available capital allows, this is a strong opportunity to add to your position and maximize potential gains.
Continue to short crude oilWTI crude oil was trading around $73.35 on Wednesday. WTI crude oil prices fell slightly on reports that Hezbollah and Israel may cease fire. However, concerns about possible attacks on Iran's oil infrastructure may limit its downside.
From the daily chart level, the medium-term trend of crude oil is that the price crosses the moving average system, and the original medium-term objective trend changes downward to a conversion rhythm, and the bullish momentum is strong. From the subjective trend, the current trend is still in the secondary rhythm adjustment range. According to the law of alternation between primary and secondary, the subjective trend still maintains a downward rhythm. Pay attention to the medium-term key resistance of 78.40. If it breaks through, the medium-term trend will end the decline and gradually enter the rising rhythm.
The short-term (1H) trend of crude oil has turned to a downward trend. The oil price crosses the moving average system, and the moving average system has not yet formed a divergent downward arrangement. The short-term objective trend is in a conversion rhythm. In the morning, the oil price fluctuated narrowly around 74, and the bearish momentum was more dominant. Looking at the 4-hour level, the oil price is just supported by the 55-day moving average, and the support effectiveness is high, and the short-term objective trend within the week is still bullish. It is expected that the short-term trend of crude oil will rebound upwards, and the overall trend will be mainly consolidation within the range.
Today: Long at 73.80, stop loss: 72.90, target 76.00.
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
OIL Short - Don't Slip On Your Longs BoysHey everybody, so while obviously the media is all about the Israel conflict I think we are still far away from being at the bottom. We just wicked today, on a monday, the friday high, started to show some major rejection signs which gives me the green light for a short "experiment" to finally wick the low weekly and daily levels. Remember boys, the best trades appear when the masses got stop out, not the other way around.
USOil liquidity sweep expected below 60.00 level**Monthly Chart (Bearish)**
USOil August 2024 monthly candle closed bearish. Sept monthly candle is also closing lower and suggesting a move lower to at least test 61.00 to 60.00 levels.
**Weekly Chart (Bearish)**
Last week's candle closed bearish indicating a continuation of the bearish move at least to take the liquidity below 64.00 level.
**Daily Chart (Bearish)**
Crude Oil (US Oil) looks bearish after testing 72.00 level for the second time last week which created a double top on the daily chart at the test of the liquidity pool before moving lower. This week, we will be looking at a slight fullback at least to 69.00 before resuming the move lower to target the 64.00 level and then below the 62.00 level.
USOIL Analysis - BearishPair Name = USOIL
Timeframe =W1
Analysis = technical + fundamentals
Trend = Bearish
Pattern = Symmetrical Triangle
Details :-
USOIL is still following bearish trend. Currently Price range between 65 to 70. it will stay here for few more days. After that it will Again Follow the bearish trend. Target Price is 55 to 57.
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.
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.