SELL ON USOIL As usual here is our trade for today on CRUDEOIL/CL/USOIL, you can enter by setting the same SL and TP as mine!
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CL-OIL trade ideas
Market Analysis: WTI Crude Oil Eyes UpsidesMarket Analysis: WTI Crude Oil Eyes Upsides
Crude oil price is rising and it could climb further higher toward the $75.00 resistance.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI Crude oil prices are moving higher above the $70.00 resistance zone.
- There is a key bullish trend line forming with support near $70.90 on the hourly chart of XTI/USD at FXOpen.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price started a decent increase against the US Dollar. The price gained bullish momentum after it broke the $69.40 resistance.
There was a sustained upward move above the $70.00 and $70.90 levels. The bulls pushed the price above the 50-hour simple moving average and the RSI climbed toward 70. A high was formed near $72.31 before there was a downside correction.
The price declined below the 23.6% Fib retracement level of the upward move from the $69.43 swing low to the $72.31 high. However, the bulls are active above the 50-hour simple moving average.
There is also a key bullish trend line forming with support near $70.90. Immediate resistance is near the $72.30 level. If the price climbs further higher, it could face resistance near $73.50. The next major resistance is near the $74.20 level. Any more gains might send the price toward the $75.00 level.
Conversely, the price might correct gains and retest the 50-hour simple moving average or the 50% Fib retracement level of the upward move from the $69.43 swing low to the $72.31 high at $70.90.
The next major support on the WTI crude oil chart is near $70.10. If there is a downside break, the price might decline toward $68.75. Any more losses may perhaps open the doors for a move toward the $66.85 support zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Crude Oil (WTI) expected bearish trendThis symbol has ben analysed on an hourly time frame where it can be seen making a double top after bearish divergence. The entry can be taken at the break of a neckline.
Crude Oil Set for a Surge: Targeting $97 by January 2025We believe the $65 level represents a significant bottom, marking the end of the current corrective phase. Based on cycle analysis, we expect oil to rise steadily from this level, with a target of $97. This upward movement is anticipated to occur by late January 2025. As the price approaches this target, we will closely monitor the technicals for any signs of potential reversals or extensions.
WTI Oil H1 | Bullish uptrend to extend further?WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 71.38 which is a pullback support that aligns with a confluence of Fibonacci levels i.e. the 23.6% and 38.2% Fibonacci retracement levels.
Stop loss is at 70.55 which is a level that lies underneath a swing-low support and the 61.8% Fibonacci retracement level.
Take profit is at 72.65 which is a swing-high resistance.
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USOIL / TRADING IN SENSITIVE AREA / 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
Current Price Context:
• The price is currently trading within a supply zone defined by the levels of 72.30 and 71.47. This suggests that there is significant selling pressure in this range.
Scenario Analysis:
• First Scenario (Bullish): If the price breaks above the supply zone (specifically, if a 4-hour candle opens above this range), it is expected to rise towards a higher supply zone between 75.37 and 76.16. This indicates a bullish outlook if the resistance level is overcome.
• Second Scenario (Bearish): If the price breaks below the supply zone, it suggests a decline towards a demand line around 69.66, with potential further drops to levels at 68.12 and 66.78. This indicates a bearish outlook if the support level is broken.
General Market Condition:
• The overall sentiment is described as being under “upward pressure,” suggesting that, despite the current resistance, there is a prevailing bullish trend or sentiment in the market.
SELL USOILYou can sell CRUDEOIL / USOIL / CL at the same levels I placed on the chart.
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US Crude Oil (WTI): A Classic Gap Trade OpportunityThere’s another possible short trade opportunity on 📉USOIL.
A head and shoulders pattern forming at a key daily/intraday resistance level could signal a strong bearish trend.
We expect a price move up to at least 70.24.
WTI CRUDE OIL: Strong rebound on the 18 month Support.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 53.224, MACD = -0.080, ADX = 22.753) as it rebounded again on the S1 Zone and already reached the 1D MA50. Even though another test of the S1 Zone is possible according to the multiple tests of the May-June 2023 pattern, the upside is more likely to happen eventually through a test of the 1D MA200. Our target is limited however below the LH trendline (TP = 77.50) as we don't yet have valid grounds to extend buying above it.
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USOIL - Key Levels for Bullish Stabilization or Bearish ReversalTechnical Outlook
The price may stabilize within the bullish zone upon a 4-hour candle close above the pivot line at 68.53, targeting 70.49 initially, followed by 71.78.
Bullish Scenario: While trading above 68.53, the price is likely to move toward 70.49 as the first bullish target, with 71.78 as the next level.
Bearish Scenario: A reversal and stabilization below 68.53 would open a move toward 67.03, with further downside potential to 65.85.
Key Levels:
Pivot Point: 68.53
Support Levels: 70.50, 71.78, 72.75
Resistance Levels: 67.03, 68.85, 63.51
Trend Outlook:
Bullish while the price remains above 68.53
PREVIOUS IDEA:
US CRUDE OIL (WTI): Another Classic Gap TradeAnother potential short trade opportunity is available on 📉USOIL.
The formation of a head and shoulders pattern on a significant daily/intraday resistance level could serve as a strong signal for a bearish trend.
We anticipate a price increase to at least 70.24.
USOIL Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring USOIL for a buying opportunity around 69.10 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 69.10 support and resistance area.
Trade safe, Joe.
Market Predictions Post Election (USOIL)Initial falls post election came as Investors did not find extreme confidence in potential oil rallies and the USD found considerable strength.
Coming off from this we can now see further rises straight into current resistance. Area looks weak so willing to hold off any reasonable shorts until higher up.
See tip of green arrow.
US/OIL Still Falling Longer Term.Election shocks may change market state significantly if any occur.
Short zones nonetheless persist at a preferably lower size.
SZ = Short Zone(s).
USOIL SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
We are going short on the USOIL with the target of 66.06 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
✅LIKE AND COMMENT MY IDEAS✅
USOIL-longI am not super confident about this position, but opened it anyways. Probably a jump to $74.50 may be possible. TP-1 can be a safer grab though.
WTI_OIL_4Hhello
Analysis and trading on West Texas oil in the medium-term time frame and analysis is based on Elliott waves.
After completing 5 falling waves, the market can enter an upward correction wave, which is currently complete wave A and enter a short fall towards the range of 68.80, and again by maintaining this number, we will enter another ascending wave. We will move towards the number 74.0 which is the final target.
USOIL - Long (Daily chart)
After a long down trend, breakout a parallel channel, i am trying to entry at the breakout point, set my SL at the lower low. Wait for the target price ...
USOIL and Oil Market is ready to Jump UP!Dear All,
As far as I see in OIL Market, price is going to get ready for Jumping UP and price higher and higher to its first TOP !!! All around issues are confirm it !!! Take care
usoil go to 74$ hello boys i miss u so match this update for last chart for usoil i see thim going to 74$
no forget follow me to get any chart just tell me
USOILUSOIL: I think the next impulse for next pick will starts from this point .
Notice: USE BUY STOP to find best price .
USOIL 2024 Q4 and 2025 Q1 & Q2If The 60-67 area doesn't look like a Huge demand zone, I don't know what is, for investors, Its worth considering taking advantage of that zone. for traders you can get on the lower time frame and put limit orders from 66-67 and take your profits around 75.
Crude Oil Technical AnalysisOil is trading bullishly above the 100-period simple moving average (SMA) and created a Fair Value Gap (FVG) on October 31. Technical indicators suggest that while the primary trend is bullish, oil is overpriced in the short term.
From a technical perspective, crude oil has the potential to fill the gap around $70.00 before the uptrend resumes. The FVG area provides a solid entry point for bullish positions.
The trend outlook remains bullish as long as the $69.70 support holds. That said, the next bullish target will likely be the $72.25 resistance level.
