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

WTI Crude (OIL) / US Dollar

No trades
See on Supercharts
Overview News
Ideas
Discussions Seasonals

OILUSD trade ideas

Crude Oil Falls to $70.30 as Market Awaits Possible ReversalOil prices have extended their losses for the second consecutive day, with crude trading around $70.30 per barrel on Wednesday. The decline in oil prices has been largely driven by the potential resolution of a political dispute in Libya, which has temporarily halted exports, along with growing concerns over a slowdown in global demand growth. Adding to the negative market sentiment, data from the Institute for Supply Management (ISM) indicated that US manufacturing continues to struggle. Although there was a slight improvement in August, with the ISM Manufacturing PMI rising to 47.2 from 46.8 in July, it still fell short of market expectations of 47.5. This marks the 21st contraction in US factory activity over the past 22 months, underscoring the persistent weakness in the manufacturing sector. From a technical standpoint, oil has entered a strong demand area, where seasonality data suggests a potential increase in volume, hinting at the possibility of a reversal. Additionally, the latest Commitment of Traders (COT) report shows that retail traders are heavily short on oil, further supporting the potential for a rebound. However, it's important to note that commercial traders, often seen as the "smart money," continue to hold lower positions, adding a layer of uncertainty to the reversal outlook. Moreover, oil prices are facing additional pressure due to the Organization of the Petroleum Exporting Countries and their allies (OPEC+) planning to increase production in the upcoming quarter. This move could weigh on prices, making a sustained recovery less certain. While there are signs of a possible reversal in oil prices, the data remains inconclusive, and traders should exercise caution as market dynamics evolve. ✅ Please share your thoughts about WTI in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
BLACKBULL:WTILong
by FOREXN1
1
Oil rally continuesCrude oil was firmer again this morning as traders price in the escalation in hostilities across the Middle East. This marks the fourth successive positive session across oil markets as the tit-for-tat exchanges between Lebanon and Israel continue. These were compounded by Iran’s direct involvement through another missile attack on Israel, and comments from US President Biden saying his administration is in discussions with Israel over possible attacks on Iranian oil facilities. Front-month WTI is up around 12% from lows hit on Tuesday morning. Analysts are busy debating if this move fully prices in the danger of supply disruption should there be an attack on Iranian crude hubs. Probably not, as many traders will continue to look ahead and consider an expected drop in demand growth next year. As for the short-term, traders have to calculate the odds of the likelihood, not just of an attack, but also the likely scale, as well as the length of any disruption caused. Should there be an attack, would it be a warning, or would it result in complete destruction of Iran’s facilities? Everything is made more uncertain with the coming weekend.
TRADENATIONSB:WTI
by TradeNation
Strong Recovery from 65.00 Support with Targets of 78.00-79.00WTI (USOIL) is currently trading at 71. After falling to the strong support level of 65.00 , it has shown consistent upward movement. This recovery from 65.00 indicates strong buying interest at that level, and we believe the bullish momentum is likely to persist. As the price continues to climb, we are projecting a target range between 78.00 and 79.00 . The 65.00 support has demonstrated its resilience, providing a solid foundation for further gains and building confidence in the market for continued upward progress.
THINKMARKETS:WTI
by FXTradingAnalysis
USOIL / BREAKOUT THE CHANNEL / 4HUSOIL / 4H TIME FRAME HELLO TRADERS The asset has broken out of a channel and is experiencing bullish pressure. This suggests that the asset’s price is moving upwards after a period of consolidation. The asset is trading above a supply zone around 74.37 to 73.69. A retest of this zone may occur before prices begin to rise again, targeting a higher supply zone between 76.85 and 77.60. If the price breaks 73.59, it indicates a potential move to a Fair Value Gap (FVG) between 73.07 and 72.15 , his is a zone where price inefficiencies may exist. If prices stabilize below the FVG zone, it could lead to further declines towards a demand zone between 73.07 and 72.12. This suggests a potential bearish reversal. Supply Zone : 76.85 and 77.60. Demand Zone : 73.07 and 72.12. FVG : 73.07 and 72.15.
TVC:USOILLong
by ArinaKarayi
WTI Crude Surges After Iran’s Missile Attack, Supply Fears BoostWTI crude oil prices edged higher following news that Iran launched missiles at Israel in a direct attack, sparking fears of potential supply disruptions in the oil-rich Middle East region. The escalation of conflict has heightened concerns about stability in the region, with the risk of a broader war possibly threatening oil production and distribution, sending prices upward. From a technical perspective, the price movement has played out exactly as predicted in our previous forecast, which can be seen in the following link: In that analysis, we anticipated a rebound from a key demand area, driven by concerns over geopolitical tensions and possible oil supply disruptions from the conflict. As the situation between Israel and its neighboring countries intensifies, the fear of significant interruptions in oil supply is pushing prices higher. Looking ahead, the bullish momentum in WTI is expected to continue, possibly driving prices above our initial take profit target. Traders should remain alert for further developments in the region, as any escalation could further fuel the upward pressure on oil prices, potentially leading to even more significant gains in the near term. In conclusion, WTI prices are on an upward trajectory, fueled by the geopolitical risks stemming from the direct attack on Israel. Our technical forecast of a rebound from the demand zone has been validated, and with the ongoing threat of supply disruptions, the bullish outlook remains strong. Further gains could push WTI prices well beyond our take profit levels if the conflict persists. ✅ Please share your thoughts about Oil in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
BLACKBULL:WTILong
by FOREXN1
1
CRUDE OIL (WTI): Your Trading Plan For Today WTI Crude Oil is testing a significant falling trend line on a daily. To short that with a confirmation, pay attention to a descending triangle pattern on an hourly time frame. Your signal will be a breakout of its horizontal neckline - an hourly candle close below 73.46. Short the market aggressively or on a retest, then. Targets: 73.07 / 72.85 Alternatively, a bullish violation of a trend line will be a strong bullish signal. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
1
WTI Oil H4 | Potential bearish reversalWTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 74.07 which is an overlap resistance that aligns with the 127.2% Fibonacci extension level. Stop loss is at 77.10 which is a level that sits above the 161.8% Fibonacci extension level and a swing-high resistance. Take profit is at 70.06 which is a pullback support. 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.
FX:USOILShort
by FXCM
2
Heading into 78.6% Fibonacci resistance?USO/USD is rising towards the resistance level that is an overlap resistance that aligns with the 78.6% Fibonacci retracement and could reverse from this level to our take profit. Entry: 74.82 Why we like it: There is an overlap resistance level that aligns with the 78.6% Fibonacci retracement. Stop loss: 77.44 Why we like it: There is a pullback resistance level. Take profit: 72.56 Why we like it: There is an overlap support level which lines up with the 23.6% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
VANTAGE:USOUSDShort
by VantageMarkets
Crude Oil - WTI Bearish Trade Ideaunexpected increase in inventories, coupled with concerns around weakening global demand and potential economic slowdowns, is likely to put downward pressure on oil prices. Technical indicators also suggest overextension, with WTI possibly pulling back from recent highs. I'm expecting a move lower as the market corrects and digests the supply surplus, targeting key support levels for potential price action. Keep an eye on upcoming data and geopolitical factors that may influence the outlook further.
BLACKBULL:WTIShort
by trader9224
WTI: Will Iran drag Saudi into conflict? Israeli officials are considering how to respond after an Iranian missile strike on Wednesday, which caused little damage, but definitely had the potential to do so. Their next steps could depend on the U.S. stance. President Joe Biden reaffirmed U.S. support for Israel but made it clear on Wednesday that he would not support Israeli strikes on Iran’s nuclear sites. Oil prices have already jumped 5% after Biden mentioned discussions about possible Israeli strikes on Iran’s oil industry. Iran, the world’s seventh-largest oil producer, exports about half of its oil, mainly to China. If tensions escalate into a broader conflict, Iran it is expected to draw Israel’s regional allies, including Saudi Arabia (an even larger oil producer than Iran) and Jordan, into the confrontation.
BLACKBULL:WTI
by BlackBull_Markets
USOIL Is Going Up! Buy! Take a look at our analysis for USOIL. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 72.003. The above observations make me that the market will inevitably achieve 77.673 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
EASYMARKETS:OILUSDLong
by SignalProvider
1