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WTI Crude (OIL) / US DollarWTI Crude (OIL) / US DollarWTI Crude (OIL) / US Dollar

WTI Crude (OIL) / US Dollar

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OILUSD trade ideas

AB=CD Bullish Pattern on OilAfter the price of WTI oil rose to highs of US$78.42 on 8 October and shaped an ‘alternate’ AB=CD bearish formation at US$77.68 (a 1.618% Fibonacci projection ratio that was bolstered by the 200-day simple moving average at US$77.40 and a 61.8% Fibonacci retracement ratio at US$77.21), the subsequent response has established an equal AB=CD bullish formation at US$69.45. This 100% projection ratio shares space with a 61.8% Fibonacci retracement ratio at US$70.26. For that reason, technical buyers could soon step into this market.
TVC:USOILLong
by FPMarkets
Crude Oil BearishCrude oil technical analysis Daily resistance 75, support 65 Four-hour resistance 71.8, support 68 Crude oil operation suggestions: From the current market analysis, continue to short near the upper 71.8 mark today, the upper pressure is near 75, the lower support is 69 and 65. The overall support within the day is to maintain the cycle of selling high and buying low in this range, and wait patiently for the key points to enter the market. SELL:71.8near BUY: 68near Technical analysis only provides trading direction!
GBEBROKERS:USOILShort
by ActuaryJ
1
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.
TVC:USOILLong
by Wealth_Waves
OIL PRICES IN USA PRIMED FOR BIG MOVE IN NOVEMBERUS Oil Prices at Key Support, Aligning with Trump's 4-Year Resistance – Bullish Indicators for November US oil prices are currently sitting at a pivotal support level, which also served as the resistance level throughout the entire 4-year Trump administration. Historically, this price zone is significant, and key technical indicators are aligning for a potentially strong move in November. Notably, oil prices have typically rallied when a Democrat is elected president, with the main exceptions being Clinton's second term in 1996 (which saw a bearish response) and the Bush administration (which fueled a bullish trend). If the status quo remains, with Harris or any Democratic leadership continuing, this setup suggests a strong buy opportunity for a bullish bounce. Might as well pay for the gas hikes right off the jump. ADX has bottomed, signaling a potential trend reversal. RSI is pivoting within the Bull Power Zone, showing growing momentum. If no major political or economic shifts occur, this support level is expected to hold, triggering a bullish move. The only scenario where prices may break below support would be a re-election of Donald Trump.
BLACKBULL:WTI
by kokenbakensoda
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
TVC:USOILLong
by Mia-Signal
2
Crude drifts lowerOil was drifting lower in early trade this morning, taking front-month WTI back down below $70 per barrel. It has lost 10% since it briefly topped $78 around ten days ago, and while the daily MACD has turned sharply lower as well, this move has only taken it back to ‘neutral’ levels rather than the heavily oversold area from this time last month. The concern that Israel would target Iran’s energy infrastructure in retaliation for the latter’s recent missile attack has been completely priced out. This followed Israeli Prime Minister Netanyahu’s statement that the country would only target Iranian military targets in response. This has led to the resumption of selling pressure as traders react to the overarching dynamic driving energy prices. Supply remains plentiful, while agencies such as OPEC and the US Energy Information Administration (EIA) calculate that the market should expect falling demand growth from both China and the US in the year ahead. Added to this is the ongoing switch to natural gas, as well as increased investment in renewables.
TRADENATION:WTI
by TradeNation
#Oil bullish wave 5 to come Hi folks, hope you're doing well. Looking at oil, we can identify a clear 3-wave bullish move. In my view, the price is currently forming a wave C of wave 4. Following this, we can anticipate the start of wave 5. Historically, in commodities, wave 5 is often the extended wave, which means, if we're correct, this setup offers a favorable risk-to-reward ratio. According to Elliott Wave's rule of alternation, since wave 2 was sharp and quick, we can expect wave 4 to be more shallow and prolonged in duration. It seems that wave 4 is developing into a zigzag pattern, and if that's the case, we might see the price dip slightly below the bottom of wave A.
CAPITALCOM:OIL_CRUDELong
by mohemati
6
Potential bullish rise?WTI oil (XTI/USD) has reacted off the pivot which has been identified as an overlap support and could rise to the 1st resistance which is a pullback resistance. Pivot: 69.90 1st Support: 68.16 1st Resistance: 72.36 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XTIUSDLong
by ICmarkets
5
WTI CRUDE OIL: Price is bottoming. Excellent long trade.WTI Crude Oil is borderline neutral on its 1D technical outlook (RSI = 45.282, MACD = 0.240, ADX = 34.094) as it is consolidating just over the HL trendline and under the 4H MA200. This consolidation so close to a Support is technically a bottoming process. January-February 2023 exhibited similar behavior that caused the price to rebound towards the R1 level again. The patterns are so far very similar, so we expect the price action to complete the sequence by rising again towards the R1. Aim just under it (TP = 76.50) to lower the risk. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
3
WTI USOUSD Short day tradingBearish Arguments VANTAGE:USOUSD Previous Month Low (PML) is holding strong. Previous Week Low (PWL) remains unbroken. Previous Day Low (PDL) is respected. Daily Bearish Fair Value Gap (FVG) is acting as resistance. Monthly Bearish FVG is also being respected. 4H Bearish FVG is holding. 4H Swing High is capping price action. 4H Swing Low is holding as a short-term support, but may break down soon. Trade Management Risk-Reward Ratio (RR): 2 Stop-Loss (SL): Placed near the 4H FVG to protect against upward moves. Take-Profit (TP): Targeting the swing low (SSL). Although price could extend lower, securing profits in this zone ensures gains in case of a rebound. Risk: 3%
VANTAGE:USOUSDShort
by Jaytradermb
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.
TVC:USOILLong
by Wealth_Waves
1