WTI is still not done. This WTI up move is being very constructive & structured. very bullish
The down moves have little to no structure and when it appeared at resistance it was quickly denied and used as support. very bullish
CL-OIL trade ideas
Oil Prices Dip as Bears Target $66.8 SupportCrude oil prices trend bearishly below SMA lines, with sellers aiming to push below the critical $66.8 support. In this scenario, the downtrend will likely extend to the September 2024 low, the 65.3 support.
Article: fxnews.me
20-11 OilThe unrest in the world is causing more use of raw materials. Since the beginning of this week, after the tension between the US and Russia increased again, oil has been rising. We are now entering with a small position and will increase this as the long trend increases further. First entry point 70.035.
Usoil trade setupWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $69.30 on Wednesday. The WTI price trades flat after Ukraine used US ATACMS missiles to strike Russian territory for the first time.
On Tuesday, Russia’s defense ministry said that Ukraine hit a facility in the Bryansk region with six ATACAMS missiles. In response, Russian President Vladimir Putin lowered the threshold for a possible nuclear strike. The rising geopolitical tensions could boost the WTI price for the time being. "This marks a renewed build up in tensions in the Russia-Ukraine war and brings back into focus the risk of supply disruptions in the oil market," ANZ Bank analyst Daniel Hynes said.
Buy opportunity on USOIL Toward 71$Hello,
We've identified a huge current opportunity to buy USOIL with a high probability and a favorable risk-reward ratio of over 2 in the 2-hour chart. Our target is $71 within a few days (Swing trade).
Ibrouri
USOIL Trend Analysis1. Trend Analysis
Zero Lag Trend Indicator:
On the M5 and M15 timeframes, the Zero Lag Trend Indicator signals a bearish trend, with the price trading below the Zero Lag EMA and recent bearish crossovers.
On higher timeframes like H1 and H4, the trend remains bullish, indicating that the current bearish movement on lower timeframes may be a retracement within the broader uptrend.
Multi-Timeframe Confirmation:
The alignment of bearish signals on lower timeframes and bullish signals on higher timeframes suggests a potential buying opportunity if the price reaches a significant support level and shows signs of reversal.
2. Key Levels Identification
Support and Resistance:
Support Levels:
$68.50: Recent swing low and a psychological support level.
$68.00: A round number and potential strong support.
Resistance Levels:
$70.00: Previous swing high and potential resistance.
$70.50: Another round number and resistance level.
Order Blocks:
A bullish order block is identified around $68.50, indicating potential institutional buying interest at this level.
3. Liquidity Zones and FU Candles
Liquidity Grabs:
Potential liquidity exists below $68.50, where stop-loss orders from retail traders may be clustered.
FU (Fakeout) Candles:
On the M5 timeframe, a bullish FU candle is observed near $68.50, suggesting a possible reversal and trapping of bearish traders.
4. Entry, Stop-Loss (SL), and Take-Profit (TP) Strategy
Entry:
Long Position: Consider entering around $68.50 after confirming support at $68.50 holds and observing bullish reversal patterns (e.g., bullish engulfing candle).
Stop-Loss (SL):
Place the SL below $68.00, at $67.50, to protect against potential false breakouts and account for market volatility.
Take-Profit (TP):
Set the TP at $70.00, near the next significant resistance level, maintaining a 1:3 risk-reward ratio.
5. Example Trade Setup
Scenario:
Current price: $69.05.
Bearish trend on lower timeframes; bullish trend on higher timeframes.
Plan:
Entry: $68.50 (after confirming support at $68.50).
Stop-Loss (SL): $67.50 (below $68.00 support).
Take-Profit (TP): $70.00 (near resistance).
Risk-Reward Ratio:
1:3, where the risk is $1.00 ($68.50 - $67.50), and the reward is $1.50 ($70.00 - $68.50).
6. Additional Considerations
Market News:
Monitor economic indicators and news related to oil, such as OPEC meetings and geopolitical events, as they can impact volatility.
Risk Management:
Risk 1-2% of your trading capital per trade to ensure sustainable trading practices.
Oil prices rebound on geopolitical concerns in Eastern Europe
After a week of decline, oil prices rose sharply due to increased geopolitical risks in Eastern Europe, including the possibility of long-range missile attacks. Meanwhile, the IEA has noted a decline in global oil demand due to China's slowing economic growth. They added that this trend may result in an oversupply of 1 million barrels per day in the global crude oil market next year.
After testing a trend line, USOIL advanced to 69.00. However, the price remains below both EMAs and still maintains bearish momentum. If USOIL breaks below the trend line again, the price could fall further to the support at 64.80. Conversely, if USOIL breaches above EMA21 and the 70.00 threshold, the price could gain upward momentum toward the resistance at 73.30.
USOIL, Daily
Oil prices rose slightly after recent losses, driven by a more positive market tone and a weaker dollar, though concerns over weak Chinese demand and a potential oil surplus in 2024 continued to weigh on the outlook. The market has been volatile due to ongoing tensions in the Middle East and Russia’s intensified strikes on Ukraine while the U.S. is considering easing restrictions on Ukraine’s use of American-made weapons, potentially escalating the conflict further. At the same time, China’s slowing economy is affecting demand, and higher supplies from the U.S. and OPEC+ contribute to expectations of an oversupply next year.
On the technical side, the price is currently trading at a major technical support area which consists of an area of price reaction in late September and late October around the $66.8 price area. The Stochastic oscillator is in the extreme oversold levels hinting that there might be a bullish correction coming up in the near short term while the Bollinger bands are starting to expand showing that volatility might be starting to tick up. These indications might be pointing to a bullish scenario in the upcoming sessions with the first area of possible resistance laying around the $70 area which consists of the psychological resistance of the round number as well as an area of price reaction in mid-late October.
SpotCrude.. Against Trend but Strong Support
SpotCrude is being supported on Weekly and Daily time frames.
Break above 4H trend line. This might be the first sign
More better confirmation will be when we break above 4H key resistant zone.
But be cautious since the overall trend is down
Crude Oil Stays Below Key $69.7 as Supply Fears MountCrude oil's downtrend resumed following the IEA report on oil reservation surplus and a strong dollar. If the 50-SMA holds, the price will likely revisit $66.8.
Article: fxnews.me
USOIL:Today's short trading strategy
Crude oil began to contract delivery, the action of these two days should be relatively large, today's thinking or bearish, weekly line again closed negative, and the center of gravity began to move down, crude oil also fell below the bottom of the hour level, today's rebound continues to empty, do not chase, this position is the bottom of crude oil week, has been volatile for a few weeks;
Today the bearish pressure around 68.00 has been broken and is currently around 67.00, the lower target is seen around 66.00. Please do not continue to short after arrival, wait for the market to confirm before trading. Follow me for updates
#CrudeOil #USOil Higher Time Frame #H4 Analysis #CrudeOil #USOil Higher Time Frame #H4 Analysis 🛢️📉
Currently, #USOil is under significant selling pressure, with prices likely heading towards the 65-63.50 zone. This area is critical, as it previously acted as a strong support during past crises, pushing prices higher. 🔄
🔹 Bullish Scenario: If prices tap into this zone and show a quick rejection, we’ll look for confirmation to plan our buys. This area could once again trigger an upward bounce. 📈
🔻 Bearish Scenario: However, if the 63.50 level fails to hold and we see a fully bearish #H4 candle close below it, we’ll prepare for a significant correction. A breakdown could open doors for a massive drop, potentially driving prices down to the 55-56 range. 💥
Stay sharp and ready to react based on price action around this crucial zone! ⚠️
Trade opportunity in Crude on 18th November 2024This is an intraday trading opportunity in WTI Crude based on the Support and Resistance levels. The time frame used is 15 minutes and both the Upper and Lower targets are clearly marked once the resistance / Support levels are broken on a 15 minute time frame candles.
www.tradingview.com
Always keep a comfortable Stoploss and use the trailing stoploss method to de-risk your trade
USOIL Will Go Lower From Resistance! Short!
Please, check our technical outlook for USOIL.
Time Frame: 15m
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 66.952.
Taking into consideration the structure & trend analysis, I believe that the market will reach 66.542 level soon.
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.
Like and subscribe and comment my ideas if you enjoy them!
USOIL: Local Correction Ahead! Sell!
Welcome to our daily USOIL prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 66.522
Wish you good luck in trading to you all!
Clean sell incomingClean sell incoming, In Crude, to clean out the old Lows below. in the coming week.
Take TP, At prime lows,,, don't leave empty handed if in case the trade take a U-turn
BUY USOIL | CL Another trade today on CL you can take with the same entry, TP and SL. Place your orders and wait for the market to come fill it!
Follow for more
WTI Crude Oil (USOIL), DailyUSOIL consolidated within 67.00 - 69.00 while sustaining the trend.
The bearish EMAs indicate the potential downtrend extension.
If USOIL breaks above 69.00, coinciding with EMA21 and the 38.2% Fibonacci Retracement, the price could rise to 72.00.
Conversely, a break below 67.00 could prompt a decline toward the channel's lower bound and its support near 65.00.
WTI - Oil waiting for stabilization of regional conditions?!WTI oil is below the EMA200 and EMA50 in the 4H time frame and is moving in its downward channel. If the correction process continues and the resistance range is broken, you can first look for buying positions and then look for oil selling positions in the ceiling of the channel.
The Wall Street Journal analysis indicates that Donald Trump, the U.S. President-elect, intends to impose severe sanctions on Iran and restrict its oil sales. This move is part of an aggressive strategy to reduce Tehran’s support for its affiliated groups in the Middle East and to curb its nuclear program. During his first term, Trump withdrew from the Iran nuclear deal (JCPOA) and implemented a “maximum pressure” strategy. This analysis is from The Wall Street Journal.
Senior commodity analysts at TDS suggest that risks related to the Middle East are significantly underpriced. TDS analysts point out that the resolution of the current round of Middle East tensions could lead to reduced supply risks in the energy market.
In this regard, OPEC’s recent decision to delay additional oil supply has had only a limited impact on increasing supply risk and may not be sufficient in the medium term. According to analyses, if geopolitical stability regarding oil supply continues, there remains a likelihood of price declines.
TDS analysts also caution that threats such as the potential intensification of oil sanctions against Iran by President-elect Donald Trump could disrupt regional oil flows severely, as he might return to the “maximum pressure” policy on Tehran.
The Israeli Foreign Minister has stated that Israel is prepared to continue the Gaza war until its objectives are fully achieved. Progress has been made in ceasefire talks with Lebanon, though the main challenge will be implementing the agreements. The most critical issue for the region’s future is preventing Iran from obtaining nuclear weapons.
An Israeli senior official mentioned, “If Hezbollah does not accept the ceasefire, stronger military and operational plans have been prepared, which could include expanding control over more areas in Lebanon.”
Meanwhile, Russia is reportedly considering merging its major oil companies, including Rosneft, Gazprom Neft, and Lukoil, to create the world’s second-largest oil producer after Aramco. This merger could provide greater control over global energy markets and support Russia’s economy amid wartime conditions. However, the proposal faces opposition from some Rosneft and Lukoil executives and challenges in securing financing for Lukoil shareholders. Kremlin officials and company executives have denied knowledge of such a plan, and details of the proposal remain unclear.
Oil - Crude(WTI) | Chart & Forecast SummaryKey Indicators on Trade Set Up in General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Active Sessions on Relevant Range & Elemented Probabilities;
* Asian(Ranging) - London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management on Demand;
Overall Consensus | Neutral
13-11 Oil13-11 Oil This commodity has a weakness, namely the economic growth in China. Despite the fact that Opec is reducing production, the world economy is experiencing a slowdown. We have placed a first sell at 67,718.
Expect Oil Consolidation Above $66.8 Post DipThe crude Oil downtrend resumed after it tested the Fair Value Gap at $69. Due to Stochastic's oversold signal, we expect Oil to consolidate above $66.8.
Article: fxnews.me
