Crude oil: encountering support above may lead to a decThe upper pressure positions are 73.7/74.1 respectively, the lower support position is 72.3 in the middle of the descending channel, and the bottom of the channel is 71
Usoilshort
How to trade crude oil when it peaks in the short term?The top shape of crude oil has been formed and is now in the downward adjustment stage. During the day, focus on the support near 75.60, and on the upper side, focus on the resistance of 76.85-90.
Unilateral rising market, pay attention to the resistance levelCrude oil is in a strong upward trend, but there has been no major correction in the past week. Today, we will focus on the resistance of 77~77.5, and look below to the support near 75.5.
🛢️📉 Crude Oil Breaks Down: Brace for Aggressive Drop 💥🔻$60/bIt looks like the 45-minute breakdown has occurred, which could lead to a bearish trend in both the weekly chart and the February monthly candle.
Our swing trade has two targets:
- The first target is $60.
- The second target is $40.
Please note that this is a long-term trade and we're making this decision quite early.
Remember DXY is still very strong signalling that commodities in general are expected to be weak.
Crude oil continues to fluctuate up and down for a weekPay attention to the resistance of 76/76.5 and trade with caution in the volatile market.Pay attention to sell high and buy low opportunities on the edge of the channel
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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USOIL H1 / POSSIBLE BEARISH MARKET STRUCTURE 🛢💲Hello Traders!
This is my idea related to USOIL H1. I see that WTI set a new WH and I expect a bearish move to close the FVG H1.
If confirmed, it's a good opportunity to execute a Short Trade.
Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective.
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Crude oil moves up and down, how to trade todayThe fundamentals of crude oil are still greatly affected by the geopolitical situation in the Middle East. The technical aspects are still looking for high points to sell during the day. The following focuses on the resistance and support of 71.70~71.2.
At the weekend, we need to pay attention to the impact of changes in the regional situation on crude oil.
Crude Oil Short AnalysisPrice retest of 73.865 area, New York Session open await pullbacks to POi.
1hr time frame price rejection, 1 min entry after Price ChoC, and Break of structural low.
TakeProfit : 72.515 (1.272 Fib Extension)
Crude oil prices fluctuated, running in the range of 73.7~70.5There is resistance near 73.7 above crude oil during the day. The recent instability in the Middle East is still the dominant factor in crude oil fluctuations. Below, focus on the support of 70.50. The trend of crude oil is still biased towards shock.
Member complete signal will be updated later
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-fall
Oil fell below the important support range of 71.7-72
Usoil:sell71.7-72
TP:71.3-71
SL:72.2
Follow the trend and trade, join me and I will continue my analysis
🛢️📉 USOIL Hits Resistance: Sell with $67 Target in Sight 🎯🔴We have noticed that crude oil has been unable to break through the resistance level on the 1-hour chart and has now entered a selling zone. This may lead to a decline in prices to $67. It's important to keep in mind that when the crude oil market is bearish, it often sets a bearish trend for the overall market.
Tuesday: Crude oil market analysisWTI crude oil prices may be reversing from the decline as the commodity price formed an inverted head and shoulders pattern on the hourly time frame. Prices have yet to break above the neckline around $74 a barrel to confirm the uptrend, and may be followed by a rebound of the same height as this pattern. However, technical indicators suggest that this decline will continue. The 100 SMA is below the 200 SMA, indicating that the path of least resistance is to the downside or that a sell-off is more likely to gain traction rather than reverse. The stochastics are also pointing downwards, indicating that selling pressure is building while buyers take a break.
Similarly, the RSI is moving downwards, indicating bearish momentum is building, and the oscillator has plenty of room to move lower before indicating oversold. In this case, crude oil is likely to continue to follow the trend with sellers in control and may test lows of $70 per barrel. Personal suggestion: go short on the rebound
Monday: Crude oil focuses on the 71/72/74/75 areaOn Monday (January 8), international U.S. crude oil prices traded around $72.85 per barrel. U.S. non-farm employment growth in December exceeded expectations, prompting financial markets to lower expectations for an interest rate cut by the Federal Reserve in March. The risk posed by tensions in the Middle East is an important factor in the price rebound. Geopolitical tensions have pushed up trading premiums, and strong jobs data also pointed to strong fuel demand.
In the 4-hour chart, a wave of decline gave up nearly half of the previous gains. It is currently in the process of confirming the retracement. Bollinger Bands closed, the short-term entered a contraction and shock, and the long-short tug-of-war switched. It is not a strong unilateral market. After the second retracement, pay attention to whether it can start a stable recovery above the low point. If it starts to stabilize, continue to watch the rebound.
On the whole, it is suggested that the day-to-day operation of crude oil should focus on the first-line resistance of 74.0-75.0 at the top and the first-line support at 72.0-71.0 at the bottom.
USOIL: Key position 73-73.4
USOIL is currently near the key resistance level. If it can break through here, it will have the opportunity to form a head and shoulders bottom pattern, and then there is a high probability of reaching around 76.
But if there is no strong breakthrough here, the head and shoulders pattern will fail, and it is highly likely that the support near 72 will be backtested.
Therefore, in the trading starting tomorrow, you can focus on the resistance near 73-73.4 and decide the trading direction based on the breakthrough.
On the 45m chart, the pattern is slightly in favor of the bears, looking ahead to Monday’s market options.
If you encounter problems during transactions, you can leave me a message!
Good luck, everyone!
$USO looks like a great shortJust like everyone think GOLD is going higher, people are overly bullish oil because of the war, blah blah, *insert your fundamental bias here.*
The reality is, the chart looks like shit. Price just rallied directly into resistance and has now formed a lower high confirming resistance at $79.
The price of oil is going much lower from here.
I wouldn't touch this from the long side until we get into the green support levels.
Good luck to all of the people bullish oil here because it won't turn out well for you.
Wednesday: Crude oil focuses on 71.2/72.5 pressureOn Wednesday (January 3), crude oil prices were trading around $70.37 per barrel. As investors lowered their expectations for interest rate cuts, the dollar strengthened, putting oil under pressure. Oil prices fell on the first trading day of 2024, with international crude oil futures settlement prices falling by more than 1% as concerns that tensions in the Red Sea could disrupt supply eased. OPEC+ will hold an online meeting early next month to resume routine oil market monitoring. A person familiar with the matter said the meeting is planned for February 1. The trend of U.S. oil this week needs to be repaired and digested. The market needs to confirm the validity of last week's decline. It needs to confirm whether the 73 line can still stand firm. If it can stand firm, U.S. oil will still have expectations for a rebound in the future. If 73 cannot be recovered, then The short-term market may have variable risks. Even if it does not fall in the short-term, it will have a great impact on later emotions. Crude oil's daily closing line has a small negative line with a long upper shadow, which has fallen below important support. There is a high probability that the daily line will hit a new low. The 4-hour cycle is effective for testing the upper pressure area, and if it falls below the long-term moving average support, there is a high probability that it will continue to decline. It is recommended to pay attention to the pressure on the upper line of $71.20.
Strategy reference: now 69.9, it is recommended to sell at 71.5-71.2
Planning ahead does not represent a real signal, see more signals👇
Monday. Crude oil falls under pressureCrude oil prices remained weak in Asian trading on Tuesday and are currently trading around 72.6. During the day, we will pay close attention to the US PMI to be released later on Tuesday. Later this week, the Federal Open Market Committee (FOMC) meeting minutes will be closely watched ahead of Friday's U.S. non-farm payrolls (NFP) report.
The crude oil market was at 73.67 at the beginning of last week. Afterwards, the market initially rose, reaching a weekly high of 76. Then the market fell back strongly, with a weekly low of 71.05. Afterwards, the market consolidated and finally closed at the end of the week. The line was at 71.12, and then the market closed with a big negative line with a long upper shadow line. After this form ended, crude oil continued to be under pressure. In the 4-hour chart, the pressure on the 76.30 line changed and fell, and the structure fell in a wave. It is still in the rebound trend. The Bollinger Bands are running below the middle track, and the middle track 73.5 is an important resistance point.
Personal suggestion: short on rebound; WTI dividing line: 73.5
USOIL Sell signal Hello traders, over the last few months, Usoil has seen a bearish trend. I anticipate this selling momentum to continue until we reach 67.68 and we could go lower. In the past days, we've established the buy side of the curve and formed a market maker sell model.. I'm interested in engaging in a sell position once the daily FVG is reached, of course after a shift in momentum.
28 Crude oil follows 74.4/72.5, see my analysisMarket participants will be watching developments in the Red Sea closely as a drone attack on an oil tanker raises concerns about shipping disruptions. Additionally, ongoing Israeli military strikes in Gaza remain a major driver of sentiment.
On the 1H chart, OIL is in a blocked upward trend. The upper pressure is 74.4. If it stands firm, it will return to the trend. If it falls below the 72.4 support below, it means the end of this round of rising prices.
Focus on these two locations today
27 crude oil market analysis, rise or fall today?The crude oil market is currently at a crossroads, balancing geopolitical tensions in the Middle East with economic factors and policy speculation.
Although oil prices fell in early Asian trading on Wednesday, they surged more than 2% earlier this week to reach their highest level this month. Inventory reports further affected the market outlook. Forecasts show U.S. crude inventories will fall by 2.6 million barrels, while distillate and gasoline inventories are expected to rise. These insights provided by the American Petroleum Institute (API) and the Energy Information Administration (EIA) are critical for traders to gauge supply levels. Yesterday (December 26) crude oil closed up. Last week, the weekly closed positive for the second week and rebounded. But whether it can continue is a question. Whether it continues to close positive this week or turns negative and falls back will determine the direction of the market outlook.
The 1-hour chart tested twice near 76 and was suppressed. Today we still need to pay attention to the pressure break at the high point. It is currently rebounding, but whether it can continue further requires breaking through the resistance of 76 to open up space. Below, focus on the two previous lows of 73.2 and 72.5. If they fall below, it means the end of this stage of the rise.
If you currently hold orders, you can send them to me and I will give reasonable suggestions based on the market conditions!
Things to note when trading crude oil this week! Day analysiTraders this week must contend with both declining liquidity and potential tensions caused by Yemen's Houthi rebels. If the shipping crisis in the Red Sea region persists, it will not only provide some support for WTI crude oil prices this week, but also create opportunities for speculative buying.
Traders will need to be cautious about risk management this week due to the Christmas holiday. WTI crude oil bears may believe that there will be a high technical reversal, and they will also pay attention to Middle East shipping news.
Last week, the market fluctuated upward, and closed the positive line with a long upper and lower shadow line, indicating that the market was more volatile. However, the market is still running below the 20-day moving average, and the overall trend is still bearish. During the day, focus on the first-line pressure of $74 at the top and the first-line support of $72.0 at the bottom. At present, the technical indicators have completely turned bearish, and it is recommended to mainly go short on the rebound!
