EWTSU WTICOUS H4 micro ((A)) going to end in a zigzag
EWTSU WTICOUS H4 micro ((A)) going to end in a zigzag
target ((B)) 75,30 - 73.60
invalidation new higs above submiicro (5) 76.95
CL-OIL trade ideas
USOIL H4 | Potential bearish reversal at 61.8% FibonacciWTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 76.80 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level.
Stop loss is at 78.80 which is a level that sits above the 78.6% Fibonacci retracement level and a pullback resistance.
Take profit is at 73.50 which is a pullback support.
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Crude Oil - LongCrude Oil has been trading in a range with a high at 84.30 and a low at 72.53. Price recently bounced from its lower band at 72.53 and currently trading higher. The Stochastic oscillator formed a bullish crossover at its oversold level indicating a further upside move, with the next probable target at its recent high of 80.24.
WTI is less affected by conflictAs tensions in the Middle East continue to emerge, oil prices may continue to be supported by short-term geopolitical risks. However, this sudden impact is gradually easing. Next, crude oil traders should still pay attention to the Federal Reserve's upcoming policy decision and further developments in the Middle East.
Ceasefire talks in Cairo between Israel and Palestinian militia Hamas went ahead as scheduled on Sunday, showing relative calm after the exchange of fire. Israel eased security restrictions in the country on Sunday evening, hours after previously declaring a state of emergency and closing the main airport.
Although the Middle East supplies about a third of the world's crude oil, oil market fundamentals have not been significantly affected by this conflict. Mainly for crude oil traders, they will still need to pay attention to the principle of supply and demand in the market "usually regulated by OPEC", and monetary policies related to USD when WTI crude oil is traded. priced in USD.
Geopolitical risks and expectations that the Federal Reserve may cut interest rates next month combined to push WTI crude oil prices to a recovery late last week. In a speech at Jackson Hole on Friday, Federal Reserve Chairman Jerome Powell gave the clearest signal yet that the job of containing inflation is complete, saying “the time has come for change.” policy", reinforcing market expectations of a possible interest rate cut next month.
On the daily chart, TVC:USOIL is still limited by pressure from the 21-day moving average (EMA21) and is still in a falling price channel.
Although WTI crude oil has recovered significantly, current technical conditions are still more bearish than bullish, with a new bearish cycle possibly being ushered in as it falls. below the 0.236% Fibonacci retracement level, and the latter target is 72.32 in the short term and above that is 71.68SUSD.
Meanwhile, for WTI crude oil to have enough bullish conditions, it would at least need to break above the technical level that acts as horizontal resistance at 77.58USD confluence with the upper edge of the price channel, then the short-term target is around 78.11USD and more than 79.62USD.
The relative strength index (RSI) is showing signs of bending after recovering to the 50% level and this should be seen as a signal that there is still further downside ahead.
During the day, the technical outlook for WTI crude oil is more bearish and notable levels are listed below.
Support: 74.71 – 72.32SUSD
Resistance: 75.66 – 76.59 – 77.58USD
USOIL Potential Resistance Breakout At $75.67 26.08.2024Apply risk management
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USOIL: Using Probabilities to Identify Long OpportunitiesThe global oil market is currently experiencing several factors that support a bullish outlook for USOIL. Ongoing geopolitical tensions in key oil-producing regions have raised concerns about potential supply disruptions. Additionally, recent data suggests a tightening of global oil inventories, which could lead to upward price pressure. Economic recovery in major economies is also driving increased oil demand.
In line with this bullish bias, I plan to use probability-based strategies to enter long positions in USOIL. By analyzing market trends and technical indicators, I aim to identify high-probability entry points for potential upward price movements
12M:
2W:
8H:
USOIL TRADE SETUP✔ Pair Name: - USOIL
✔ Classic BULLISH formation
USOIL short time Buy setup created.H4 time frame OIL market trend line break. break the structure .By retracing the market we can activate the buy. If your analysis matches it take a trade otherwise skip the trade.
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USOIL: Bears Will Push
The price of USOIL will most likely collapse soon enough, due to the supply beginning to exceed demand which we can see by looking at the chart of the pair.
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WTIOil still brearish, I will not buy this. Sell or do nothing. It has two options, as illustrated in the chart
USOil Bullish structure is forming**Monthly chart**
Last month's candle was bearish after sweeping liquidity from 84.5 level and then pushed lower for around 1,000 pips. This month's candle (August) which is still active, continued its moves lower and pushed USOil price to the 71.44 level before it took off higher.
**Weekly Chart**
Last week USOil price closed after forming a bearish candle, however, it tested and swept liquidity below the August 5th weekly candle before changing the structure from bearish to bullish. Note that USOil price has been moving within a range from 80 to 72 levels since 22 July 2024.
**Daily Chart**
USOil started a bullish structure on daily and lower time frames last week after pausing around the key level which created a manipulation candle (or Order block) before the strong rally to the upside.
This week, I will be looking for a bullish structure to buy the dip as the market retraces to IPA (or FVG) on lower time frames (ie. H4 and H1). The next Target is 77 and then 80 levels.
Oil WTI Crude Time To BUY Hello traders
As we can see Usoil has close above the Trend line on last Friday closing Markets
its a good sign for upcoming moves better to get loadup from this drawn zone with a very low risk and we are Aiming for Huge Rewards its just a trading idea do a proper Research before any entry...
Support the idea so it help many other traders Stay tuned for more updates
USOIL Massive Short! SELL!
My dear followers,
I analysed this chart on USOIL and concluded the following:
The market is trading on 74.91 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 73.23
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
USOIL BEARS ARE STRONG HERE|SHORT
Hello, Friends!
The BB upper band is nearby so USOIL is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 70.87.
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WTI - Short Trade IdeaThis is a short trade idea that fades the recent expansion upwards.
I did an analysis all the way from the yearly timeframe down to the daily, and all arrows still point lower. WTI came into a yearly BISI, which is generally a big deal, but I have a feeling (also based on analysis) that we will come lower into a 6-month BISI and take out the ascending SSL below. The inefficiencies on the daily timeframes are also indicating a move lower. However, caution will be expressed in observing the creation of bullish PD Arrays on the way to my short POI.
If price continues up from my short POI and closes candles above on the daily, then we may be looking at higher prices first. USDCAD, which is negatively correlated with WTI to a high degree, has some a large double top on the higher timeframe overview. This would coincide with a move lower on WTI. That being said as a USD pair, how much of a recovery can we expect on the US Dollar is this happens?
- R2F
Copper & Oil : Are commodities about to surge? Copper is showing great pattern consolidation.
it appears to be putting in a daily bull flag pattern that looks poised to breakout.
If copper follows some of the other recent price action in the commodity space it makes it even more likely to surge.,
You're seeing #gold #uranium #oil and other all performing well.
Will this dampen and slow down the dis inflation expectations? Perhaps.
I am long SCCO with members and have already secured some profits today with members.
I do think there is more strength to come in copper.
USOIL Bullish 4H TF(4H Div, DOW BOS, Double Bottom Reversal)USOIL showing signs of bullish momentum supported by 4H Divergence with DOW break of previous LH BOS (Break of Structure). Price action is also supported by double bottom reversal pattern. Entry is taken slightly above previous LH. Stop Loss is placed at slightly below previous LL and TP @ 1:1 risk to reward.
What do you think, will it work?
USOIL BEARISH TREND From our last week analysis when i call for this first and second bearish trend TVC:USOIL is playing around this supply area will might see further downside . Overall target $64
USOIL / TRADING INTO DESCENDING CHANNEL - 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 74.76
Downward Condition: With the price holding steady at the current turning level at 74.76 , it is likely to decline towards the support level of 72.81. If it stabilizes below this level, it could then reach the next target level of 70.92
Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 74.76 , leading to a rise toward the resistance level (1) at 76.15 . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 78.55
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 76.15 .
RESISTANCE LEVEL (2) : 78.55 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 72.81 .
SUPPORT LEVEL (2) : 70.92 .
TURNING LEVEL : 74.76 .
Crude oil bullish Hello beautiful traders, here is my complete technical analysis on crude oil 🛢. The completion of M parten on a daily time frame. Buy on the retest of the red line after a 4hr candle.
USOIL Is Going Up! Buy!
Here is our detailed technical review for USOIL.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 73.74.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 79.53 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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