Oil longReady for bullish move guys? Elliot wave correction due Last push up as B wave Let's goLongby HuntingTraps10
WTI The heartbeat of the oil market with the release of key economic indicators The battle of supply and demand: can oil maintain its support levels? Crude Oil is testing a critical support level ahead of the release of the US ISM Manufacturing PMI. But what will happen next? **Fundamental Overview** Last week, crude oil was in a price fluctuation affected by supply factors. On the one hand, news was published about the closure of all Libyan oil fields and the cessation of production and export of this country. On the other hand, Iraq announced that it will reduce its production. But on Friday, oil prices fell again on news that OPEC+ plans to increase production in October. In the bigger picture, the oil market has largely fluctuated within a certain range in the last two years as contractionary central bank policies have taken their toll on economic growth. Currently, the Federal Reserve appears to be trying to cut interest rates in a struggling economy, which could help stimulate economic activity. If the Fed does indeed manage to achieve a "soft landing," that should support the crude oil market. On the other hand, if economic data increases the likelihood of a "hard landing," we are likely to see further declines in the future. Keep a close eye on the release of the US ISM Manufacturing PMI today, as it will likely determine the direction of NFP (non-farm payrolls) across all markets. **Daily Chart** On the daily chart, we see that crude oil is now near the key support level of $72.50. Within this range, buyers will likely step in with a clear risk below the support level and look for a rally to the $80 range. On the other hand, sellers would like the price to reach lower levels so that they can increase their bearish bets to the $67.50 level. **4 hour chart** On the 4-hour chart, we see a strong trend line that indicates the downward direction of the market. If the price bounces above these levels, sellers will likely step in with a clear risk above it and look for a break below the $72.50 support. On the other hand, if the price rises, buyers will look to strengthen their bullish bets in the $80 range. **1 hour chart** On the 1-hour chart, it can be seen that there is a strong resistance zone at $74. If the price bounces near the support, buyers expect the price to break through the resistance to reinforce their bullish bets on the trendline. Conversely, sellers may rely on resistance to maintain their position for a break below the support level. The red lines on this chart show the average daily range for today. Send feedback 06:52by Masih_Rezvani0
USOIL : Weekly Technical AnalysisHi Traders! Crude oil prices declined on Tuesday due to demand concerns driven by weak economic growth in China, the world's biggest crude importer. Brent crude fell 1% to US$76.77 per barrel and West Texas Intermediate crude lost 0.1% to US$73.50/b at last look early Tuesday. Demand concerns offset impacts of the production and export halt at Libya due to a political dispute, Reuters said in a Tuesday report. China's purchasing managers' index hit a six-month low in August and new home prices grew in the month at their weakest pace this year. Meanwhile, Libya's National Oil Corp declared force majeure at its El Feel oil field from Sept. 2. Total production in the country had dropped to just over 591,000 barrels per day (b/d) as of Aug. 28 from nearly 959,000 b/d on Aug. 26, Reuters reported, citing NOC. However, the Organization of the Petroleum Exporting Countries is reportedly set to proceed with its planned output boost in October regardless of demand concerns, Reuters reported, citing unnamed industry sources. From a technical point of view, the break of the support (left wing) should confirm our bearish harmonic structure and subsequently push the price around $55. If OPEC confirms an increase in production, this element could support our idea. What do you think?Shortby TheAnonymousBanker7742
CRUDE OIL (WTI) Intraday Bearish Confirmation Update for our yesterday's setup on WTI Crude Oil. The price successfully retested a broken structure. Our intraday bearish confirmation is a breakout of a support line of a bearish flag pattern on an hourly time frame. The fall will continue now at least to 72.1 ❤️Please, support my work with like, thank you!❤️ Shortby VasilyTrader115
USOILWe're initiating a short position on USOIL, targeting potential downside in the current market environment. The setup aligns with our analysis, suggesting a possible decline ahead. Entry, Take Profit, and Stop Loss levels are clearly outlined, ensuring a disciplined approach to managing this trade. Stay alert to any market shifts that could impact price direction.Shortby CryptoBullTrades1
USOIL SHOWING SIGNS OF WEAKNESS From our previous top down analysis when i call for the first and second drop of TVC:USOIL when it was still trading at $81/barrel . We might see further down side to $64 key zone Shortby Money_Pips444
WTI LongSeeing that WTI has held steady at the 4h FVG I decided to open a long up to the point of interest where the intermediate high is at 15min. Risk: 1%. Trade management: I will take partial profit (60%) at the first swing high. Longby JaytradermbUpdated 5
CRUDE OIL RISKY SHORT| ✅CRUDE OIL went down after The breakout just as we predicted But is now making a bullish Correction so after the retest Of the horizontal resistance Of 74.50$ we will be expecting A potential bearish pullback SHORT🔥 ✅Like and subscribe to never miss a new idea!✅ Shortby ProSignalsFx111
Crude Oil Technical AnalysisWhen the USDWTI 4-hour chart is examined; It is observed that price movements continue in a downward trend. As long as the Crude Oil price cannot exceed the level of 75.28, it is evaluated that in price movements below the level of 74.38, it can break the level of 72.90 and retreat to the level of 71.47.Shortby profitake1
USOIL Potential Downtrend Line Breakout At $73.93 03.09.2024Apply risk management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350) DisclaimerLongby Stuart_Cowell2
Us30 ubdate.CRUDE OIL (#WTI) Bearish Outlook Explained 🛢 📉Crude Oil will most likely keep falling soon. The price violated a key daily horizontal support and closed below that. We can anticipate a bearish continuation at least to 71.9 Look for selling the market from a supply area based on a broken structure and a falling trend line. ————————— Daily time frame. Do ur own research also, give you opinion in coment section.Shortby GrrowMore1
Heading into 38.2% Fibonacci resistance?WTI oil (XTI/USD) is rising towards the pivot which acts as an overlap resistance and could reverse to the 1st support identified as a pullback support. Pivot: 75.42 1st Support: 72.62 1st Resistance: 77.51 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.Shortby ICmarkets10
OIL SELLSTargeting 1:2.5 position. Break and retest of key level Expecting volume to push price further down Shortby shabbz6191
usoil possible shortbearish market structure buys are pull backs at this point expect mid-weel reversalsShortby martinmbugua990
OIL September Trading Plans / Range StructureTypically Markets vary in range over time across all timeframes. It's important to track this and use key price rejection levels (price action) for entries and exits accordingly.04:29by WillSebastian3
US OILPair : Crude Oil Description : Completed " 12345 " Impulsive Waves Break of Structure RSI - Divergence Bearish Channel as an Corrective Pattern in Short Time Frame Impulse Correctionby ForexDetective7
#CrudeoilCrude is still in deciding zone one watch given lvl or use for there analysis purpose. No buy /sell is being recommended by broly_2
US CRUDE OIL(WTI): Massive BreakoutUSOIL has dropped below an important daily support cluster, which has now turned into resistance. It is likely that a bearish trend will persist, with the next support level at 71.78.Shortby linofx12234
CRUDE OIL (WTI) Bearish Outlook Explained Crude Oil will most likely keep falling soon. The price violated a key daily horizontal support and closed below that. We can anticipate a bearish continuation at least to 71.9 Look for selling the market from a supply area based on a broken structure and a falling trend line. ❤️Please, support my work with like, thank you!❤️ Shortby VasilyTrader118
Hellena | Oil (4H): Long to resistance area 80.432.Dear Colleagues, the price is in a corrective movement and at the moment I believe that wave “b” is coming to an end. The wave completion range is 100%-161.8% Fibonacci extension levels (73.591-75.000). Next, I expect price to rise to the nearest high of 80.432. This is the resistance area. Manage your capital correctly and competently! Only enter trades based on reliable patterns!Longby Hellena_TradeUpdated 7761
WTI Oil D1 | Falling to multi-swing-low supportWTI oil (USOIL) is falling towards a multi-swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 71.89 which is a multi-swing-low support that aligns with the 61.8% Fibonacci projection level. Stop loss is at 68.70 which is a level that lies underneath a swing-low support and the 100.0% Fibonacci projection level. Take profit is at 76.01 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.Long03:33by FXCM9
OIL in BeasrishOil is still in bearish. waiting price in that zone and wait for confirmation. If no confirmation = no trade (price still uptrend) Shortby SutrisnoPutro2
[2024.08.28 Wednesday Market Analysis and Opportunity Insight]Hello traders, In the realm of commodity trading, market fluctuations often align with the influx of information. Nevertheless, as we near the end of the month, a distinct pattern emerges: news tends to quiet down and data liquidity diminishes. During this period, analogous to calm waters in the market, lies both a challenge and an opportunity. This juncture not only tests a trader's training, sagacity, and skill, but also assesses their resilience. This week marks the final trading week of August, with extremely scarce news and limited data, indicating a collective anticipation for the September non-farm payrolls data and the interest rate cut scheduled for September 19th. Given the dearth of news, it would be advisable to rely more on technical analysis. 1. Concentrate on support and resistance levels, along with technical indicators like moving averages and RSI. 2. Decrease trade sizes and establish reasonable stops. Under conditions of limited information, the market could be more vulnerable to unforeseen events. 3. Monitor trading volume: Variations in trading volume may signify price direction. Low trading volume could denote market indecision, while a sudden surge in trading volume could indicate a significant movement. 4. In the absence of short-term information, it may be apt to emphasize and trade in accordance with the long-term trend. 5. Be patient. Refraining from trading when signals are unclear is also a viable strategy. Avoid forcibly engaging in trades due to inactivity. As advised on Tuesday, the market sentiment for crude oil remains unchanged, and it's recommended to await a pullback position for considering a new single position. On the 4-hour chart, a retracement target between FIBO 382-618, within the 75.3-73.8 range, is viewed as necessary for the preceding upward wave's retracement. Please refer to Figure III. P.S. On Wednesday, TP3 /TP4was included as a retracement target, near the 73.80 range. BEST WISHES! LEAN MEANS MORE!Shortby FUNTRADER-VeraUpdated 3