USOILUSOIL: I think the next impulse for next pick will starts from this point .
Notice: USE BUY STOP to find best price .
OILUSD trade ideas
WTI - How will oil react to the elections?!Oil is located between EMA200 and EMA50 in the 4H timeframe and is moving in its downward channel. If the descending channel is preserved and its ceiling is not broken, we can witness the continuation of the oil decline up to the midline of the descending channel. Breaking the ceiling of the channel and the resistance range will provide the way for oil to rise to $75.
A member of Trump’s campaign stated that victory in Michigan and Pennsylvania is nearly certain. Meanwhile, Fox News has predicted that Trump will win the U.S. presidential election.
According to information from three informed sources, the United States and Saudi Arabia are in talks for a security agreement that would be independent of any broader agreement with Israel. This agreement is not aimed at achieving a comprehensive defense pact; however, Crown Prince Mohammed bin Salman and the White House wish to reach a security deal before President Biden’s term ends in January.
Prior to Hamas’s attacks on Israel on October 7, the Biden administration was in discussions with Saudi Arabia and Israel for a broader agreement that included normalization between Saudi Arabia and Israel. This agreement would have involved a U.S.-Saudi defense pact and civilian nuclear cooperation, which the White House believed had a higher chance of Senate approval.
However, the outbreak of conflict in Gaza and Lebanon and Saudi Arabia’s demand for the establishment of an independent Palestinian state delayed these negotiations. Meanwhile, Saudi Arabia’s national security advisor, Musaad bin Mohammed Al Aiban, traveled to Washington last week and met with U.S.
national security advisor Jake Sullivan and other officials, including Secretary of State Antony Blinken. Their discussions focused on U.S.-Saudi bilateral relations and a series of security, technological, and economic agreements they aim to sign before Biden’s term ends.
This security agreement was separate from efforts for a broader deal that included normalization between Saudi Arabia and Israel. The initial plan is to draft an agreement similar to what the Biden administration has signed with other Gulf countries in recent years. For instance, in March 2022, Qatar was recognized as a major non-NATO ally, and in September 2023, the U.S. and Bahrain signed a comprehensive security agreement.
Over the past four years, the Biden administration has sought to curb the growing influence of China and Russia in the Gulf region. U.S. officials have indicated that several countries previously leaning towards China and interested in purchasing strategic systems from Russia have now moved closer to the U.S.
The OPEC Secretary-General has stated that the global economy is in good condition and estimates global economic growth at 2.9%. OPEC holds an optimistic view of oil demand in both the short and long term. Although there are challenges, the overall picture is not as negative as some suggest. The OPEC Secretary-General believes that peak oil demand will not occur and that the global economy continues to grow.
USOIL 2024 Q4 and 2025 Q1 & Q2If The 60-67 area doesn't look like a Huge demand zone, I don't know what is, for investors, Its worth considering taking advantage of that zone. for traders you can get on the lower time frame and put limit orders from 66-67 and take your profits around 75.
Wti Long Price is forming a rising wedge on 15 mins , the reasonable stop loss is after it breaks the bottom of the wedge.
WTI Poised for Upside, Long-Term Bullish OutlookHello,
BLACKBULL:BRENT is poised for further upside, as confirmed by the 1M PP, along with a cross and lock. While the trend outlook remains mixed, the long-term perspective leans more toward a bullish stance.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
WTI Oil H1 | Bullish uptrend to extend further?WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 71.38 which is a pullback support that aligns with a confluence of Fibonacci levels i.e. the 23.6% and 38.2% Fibonacci retracement levels.
Stop loss is at 70.55 which is a level that lies underneath a swing-low support and the 61.8% Fibonacci retracement level.
Take profit is at 72.65 which is a swing-high resistance.
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USOIL and Oil Market is ready to Jump UP!Dear All,
As far as I see in OIL Market, price is going to get ready for Jumping UP and price higher and higher to its first TOP !!! All around issues are confirm it !!! Take care
SELL USOILYou can sell CRUDEOIL / USOIL / CL at the same levels I placed on the chart.
Follow for more daily trades!
OIL_CRUDE / LONG I think this move down is just a correction to cover the imbalance that has formed, after which the bullish momentum will continue up. We have a good buy option with medium risk level.
USOIL / TRADING IN SENSITIVE AREA / 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
Current Price Context:
• The price is currently trading within a supply zone defined by the levels of 72.30 and 71.47. This suggests that there is significant selling pressure in this range.
Scenario Analysis:
• First Scenario (Bullish): If the price breaks above the supply zone (specifically, if a 4-hour candle opens above this range), it is expected to rise towards a higher supply zone between 75.37 and 76.16. This indicates a bullish outlook if the resistance level is overcome.
• Second Scenario (Bearish): If the price breaks below the supply zone, it suggests a decline towards a demand line around 69.66, with potential further drops to levels at 68.12 and 66.78. This indicates a bearish outlook if the support level is broken.
General Market Condition:
• The overall sentiment is described as being under “upward pressure,” suggesting that, despite the current resistance, there is a prevailing bullish trend or sentiment in the market.
WTI Crude Oil Outlook: Eyeing Potential Demand Zone RecoveryWTI crude oil is currently trading around $68.25 as of this Tuesday, following a significant gap-down opening to start the week. The move lower was largely influenced by easing tensions in the Middle East, as recent developments suggested a more contained military approach, which alleviated fears of a broader conflict that could disrupt oil supply.
Upcoming U.S. Economic Data: GDP and Nonfarm Payrolls in Focus
The U.S. economic calendar this week includes key data releases, beginning with the flash Gross Domestic Product (GDP) report for Q3 on Wednesday, projected to show an annualized growth rate of around 3%. A stronger-than-expected GDP figure could bolster the USD, adding pressure to USD-denominated assets like crude oil, as a stronger dollar makes oil more expensive for holders of other currencies. Following the GDP report, Friday’s Nonfarm Payrolls will provide additional insight into U.S. labor market conditions, which could further influence dollar strength and, subsequently, WTI prices.
Technical Analysis: WTI Trading in Demand Zone
From a technical perspective, WTI crude is currently positioned within a demand zone, where buyers could be eyeing a recovery of Monday's gap-down. This demand zone represents a critical area where traders are observing whether buying interest will drive prices higher to close the gap. A recovery attempt here, with a tight stop loss, could offer a favorable risk-to-reward setup, particularly if data later in the week doesn’t significantly strengthen the USD.
Conclusion
The WTI crude oil market remains vulnerable to geopolitical developments and U.S. economic data this week, with a stronger USD potentially capping any recovery attempts. However, should the upcoming data align with current estimates or underperform, there may be room for WTI to rally from its demand zone, attempting to reclaim some of the lost ground from the recent gap-down. Traders may want to monitor these key levels and events closely, as they could provide both direction and confirmation for near-term price movement in WTI crude oil.
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WTI Dips as Israel Avoids Targeting Iran’s Oil: What’s Next?The West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $70.60 during Thursday's London session. The price edged lower following reports that Israel has assured the United States it will not target Iran’s nuclear or oil facilities in its planned retaliatory attacks. This news, as reported by senior Biden administration officials and the Wall Street Journal, came after the US sought to prevent further escalation in the Middle East to avoid a potential surge in oil prices.
Geopolitical Tensions in the Middle East and Oil Prices
Oil markets have been on edge due to geopolitical tensions in the Middle East, particularly following the conflict between Israel and Hamas. Any potential retaliation involving Iran has been closely watched, given Iran’s role as a major oil producer in the region. Had Israel planned to target Iran’s oil infrastructure, it could have led to significant supply disruptions, pushing oil prices higher. For now, traders are breathing a sigh of relief with the promise from Israel to avoid targeting these facilities, but geopolitical tensions still remain a key factor that could influence WTI in the near future. Should tensions escalate further, WTI prices could quickly rebound on supply concerns.
OPEC and IEA Cut Global Oil Demand Forecasts
This week also brought another major development for oil markets as both the Organisation of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) lowered their forecasts for global oil demand growth in 2024. The IEA now estimates global oil demand will grow by 1.2 million barrels per day (bpd), bringing total demand to 104.3 million bpd next year, which is 300,000 bpd below previous estimates.
These cuts are being driven by several factors, including the weakening global economic outlook and persistent challenges in key oil-consuming regions. In particular, China’s economic stimulus measures have failed to provide a meaningful boost to oil demand, further weighing on oil prices. This downward revision in demand growth expectations has created additional headwinds for crude oil prices, contributing to the recent decline in WTI.
Technical Outlook: Bearish Sentiment But Potential Long Retracement
From a technical standpoint, WTI is currently trading within a key demand area, suggesting that some buyers may step in to support prices. While the forecast based on seasonality points toward a bearish trend in the near term, there are some indications that a deeper long retracement could occur.
The Commitment of Traders (COT) report shows that institutional investors, also known as "smart money," are maintaining long positions, indicating potential underlying support for oil prices. This dynamic suggests that while prices may experience further pressure in the short term, a retracement to the upside could occur if demand for oil begins to pick up or if geopolitical tensions resurface with greater intensity.
Conclusion: WTI Traders Remain Cautious Amid Mixed Signals
For now, WTI remains in a delicate position, influenced by a mix of geopolitical risks, lower global demand forecasts, and technical factors. The assurance from Israel that its retaliatory strikes will avoid targeting Iran’s oil infrastructure has alleviated some immediate concerns about a spike in oil prices. However, the ongoing geopolitical situation remains fluid, and any sudden escalation could quickly reverse the current price trajectory.
At the same time, the reduced demand growth outlook from both OPEC and the IEA creates a bearish overhang for crude prices. With China’s stimulus measures failing to spark a meaningful recovery in demand, traders will be closely watching for any new developments that could shift the balance of supply and demand in the oil market.
In summary, WTI may continue to face downward pressure in the short term, but a potential long retracement remains on the table, especially if market conditions or geopolitical tensions shift in the coming days. For now, traders are likely to stay cautious, awaiting clearer signals before taking decisive positions.
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usoil go to 74$ hello boys i miss u so match this update for last chart for usoil i see thim going to 74$
no forget follow me to get any chart just tell me
WTI is targeting growth again. H4 05.11.2024🛢 WTI is targeting growth again 📈
Oil is looking at a possible pattern for a segment overlap to the upside in which we will again target a major upside. Price is now approaching the control margin at 73 and from there a local correction may be made and then growth will continue. Major volumes have stayed down and have been buybacks. Also OPEC+ have postponed the increase in oil production which will further support it.
BLACKBULL:WTI
Could the price reverse from here?WTI oil (XTI/USD) is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 38.2% Fibonacci support.
Pivot: 72.44
1st Support: 70.26
1st Resistance: 75.15
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WTI, back at major order block support -- BOUNCE expectedWTI is currently sitting at below 0.5 FIB level on a weekly data -- a key area where most buyers converge.
$65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range.
A bounce is expected from current price range. Accumulation has notably started increasing at the present levels.
Spotted at 69.0
TAYOR.
Safeguard capital always.
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RELATED NEWS: Reuters
Oil prices settle more than 3% higher after China rate cut
By Stephanie Kelly
NEW YORK, June 13 (Reuters) - Oil prices climbed over 3% on Tuesday on hopes for growing fuel demand after China's central bank lowered a short-term lending rate for the first time in 10 months, boosting crude prices after steep losses the previous session.
The rate cut is aimed at adding momentum to a hesitant post-pandemic recovery in the world's second-largest economy and biggest crude importer.
Brent crude futures settled up $2.45, or 3.4%, to $74.29 a barrel. U.S. West Texas Intermediate (WTI) crude gained $2.30, or 3.4%, at $69.42 a barrel.
WTI Wave Analysis 4 November 2024
- WTI reversed from long-term support level 66.75
- Likely to rise to resistance level 75.00
WTI crude oil recently reversed up from the long-term support level 66.75 (which has been reversing the price from the end of 2021), standing near the lower weekly Bollinger Band.
The upward reversal from the support level 66.75 continues the weekly upward impulse wave (3), which also started from the same support level in September.
Given the strength of the support level 66.75, WTI crude oil can be expected to rise to the next resistance level 75.00 (former strong resistance from October).
US Crude Oil (WTI): A Classic Gap Trade OpportunityThere’s another possible short trade opportunity on 📉USOIL.
A head and shoulders pattern forming at a key daily/intraday resistance level could signal a strong bearish trend.
We expect a price move up to at least 70.24.
Another chance to buy $USOIL near the bottom of the rangeOn September 9th with oil dropping down to $68 from $84 back in July I pointed out that there was support down in that zone from what I call the "SPR REFILL LEVEL".
A month later in early October the price of crude oil had rebounded to $76-$78 and the highest daily low reached $74.51 and the highest high was $78.43. Pretty volatile price action in one of the worlds top commodities that impacts global GDP substantially.
By late October, oil had fallen once again back to the "SPR REFILL LEVEL" at the $67 level and once again has been rebounding since and today sits at $71.40 here.
The BIGGEST point to remember is that the current political environment has had a massive impact on the price of oil as you can see from the red triangle in the top-left of the chart where back a year ago the strategic petroleum reserve was raided and liquidated significantly into the open market and drove the price of oil down.
The market rebounded from the initial waves are revisited that important liquidation level turned prices away this April at $86-$87, right to the DAY's price level from the SPR liquidation level.
The market has memory, but we need to mark this info on our charts so we remember too. Clearly you can see this powerful impact on the market and with patience and risk management, you can take advantage of setups like these to make profits or avoid losses.
With the Presidential Election ongoing and tomorrow being the last day to vote, the market will begin to discount if Trump with will and encourage new supply of oil to help drive down the price further or will the shorts in oil turn and cover because the market doesn't break down fast enough?
There are always risks in trading and hopefully by pointing out the "KEY NEWS LEVELS" we can avoid getting blind-sided by our emotions of fear and greed.
There is a weekly uptrend in place from the low in September and if prices hold above $70, I expect continuation to the upside over the next 7 weeks.
If prices fall and hold under $70, I will stand aside and look to buy lower in the SPR refill level range near $65-$64 (vs $71.53 last).
I'll be in the Key Hidden Levels chat room discussing these charts and more every day.
Cheers,
Tim
3:21PM EST 11/4/2024
WTI CRUDE OIL: Strong rebound on the 18 month Support.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 53.224, MACD = -0.080, ADX = 22.753) as it rebounded again on the S1 Zone and already reached the 1D MA50. Even though another test of the S1 Zone is possible according to the multiple tests of the May-June 2023 pattern, the upside is more likely to happen eventually through a test of the 1D MA200. Our target is limited however below the LH trendline (TP = 77.50) as we don't yet have valid grounds to extend buying above it.
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CRUDE OIL RISKY SHORT|
✅CRUDE OIL will be retesting a resistance level soon at 72.50$
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
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OIL at this level to $72MODs have suggested that I provide more detail about the picks I make.
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
Bonus if a TTM Squeeze in in play.
I hold until target is reached or end of year, when I can book a loss.
So...
Here's why I'm picking this symbol to do the thing.
Price near bottom of channels (period 100 52 39 & 26)
Stochastic Momentum Index (SMI) at oversold level
VBSM is negative
Price at near Fibonacci level
Will enter small position at $67, again at $66ish and all in at $65
Target is $72 or channel top
Stop loss is $64
