Oil Market Analysis | Key Levels For Entries And ExitsOil has gained momentum on Middle East tensions.
This brings rise to various areas of note.
OILUSD trade ideas
Wit oilWe may see $80 target tested soon.
Lots happening in the Middle East which can move this market rapidly.
This is just for my own learning purposes
USOIL FORECAST Q4 FY24 - FY25monthly timeframe just to show em we the big dogs
The last post was short lived lasted a month then went to the bears
in this analysis i see price going up higher for longer in the long run as i anticipate
some serious global tensions to follow through, wont speculate on conspiracies only prices
that said price didnt break our level yet again and from 12/22 to now price was in an accumulation distribution range as the big money slowly but sure buy up more inventory
hidden in plain sight
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need help i got you comment an instrument thats been bothering you
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USOIL- at resistance? Holds or not??#USOIL - market just near his resistance area.
Keep close it because if market hold it then again drop expexted.
Don't be lazy here
Good luck
Trade wisely
Middle East Tensions Mount; Oil Prices RiseAccording to Israel, military forces have mounted a ground incursion across local communities around Southern Lebanon, in what it has described as a ‘limited operation’ against Hezbollah.
The Israel Défense Forces (IDF) described the attack as ‘limited, localised, and targeted ground raids based on precise intelligence against Hezbollah terrorist targets and infrastructure in southern Lebanon’. This follows several days of airstrikes to eliminate Hezbollah’s leadership and destroy its weapons stockpiles, which resulted in the assassination of Hezbollah’s leader, Hassan Nasrallah.
Despite reports of the Israeli ground assault, Hezbollah denies Israeli forces have entered Lebanon.
Iran Preparing to Launch Missiles Into Israel?
As per a senior White House official, as well as a Department of Defence official, there are reports that Iran is preparing to mount an attack against Israel, including the launch of a ballistic missile. You will recall that Iran attacked Israel earlier this year in April, launching more than 300 drones and missiles in which the US was actively involved in aiding Israel’s defence. According to sources, the US is anticipated to adopt a similar role in this situation should an attack materialise, supporting defence preparations. As of writing, it remains unclear when (if) an Iranian attack on Israel will occur.
In addition, the US State Department has ordered diplomats and their families in Isreal to ‘shelter in place’, as the condition remains tentative.
Oil Prices Advance
Oil prices caught a sizeable bid in trading today amid escalation in the Middle East.
As of writing, WTI oil is up 4.0% and technically gearing up to complete a daily AB=CD bearish configuration at US$73.58, which happens to share chart space with channel resistance, extended from the high of US$84.49, along with an ascending support-turned-potential resistance level, taken from the low of US$63.61.
In light of the clear downward-facing trend this market has been in since early July this year, a test of the aforementioned resistance could result in investors taking profit and fresh sellers entering the fray.
US OIL - Waiting for breakoutUS OIL - Waiting for breakout if sustain above 72
Charts for Educational purposes only.
Thanks,
V Trade Point
CRUDE OIL Will Hit Resistance Soon! Sell!
Hello,Traders!
CRUDE OIL keeps growing
And the price will soon
Hit a horizontal resistance
Of 72.00$ from where
A local bearish correction
Is to be expected
Sell!
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USOIL SELL SHORTStructure: This chart shows a possible bearish setup following a recent rally that appears to be losing momentum as it approaches a resistance area around the 0.618 Fibonacci retracement level. The price action suggests a possible reversal or correction from this resistance zone.
Trade Setup: The trade setup suggests a short position, targeting a downward move towards the 70.80 USD area (green zone), which represents the next significant support level. The stop loss is placed at 81.40 USD (red area), just above the recent high, to limit losses if the price breaks through the resistance and continues higher.
OIL: Three days short traders in the market Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance ✅
Wednesday DAY 3 (reset DAY 1) Mid Point Week
Thursday DAY 2
Friday DAY 3 Closing Range
2. SIGNAL DAY
First Red Day
First Green Day
3 Days Long Breakout
3 Days Short Breakout ✅
Inside Day
3. WEEKLY TEMPLATE
Pump&Dump ✅
Dump&Pump
Frontside
Backside ✅
4. THESIS:
Long: secondary, although I'm not looking for any long setup at the moment, the market can still retest the current LOD (placed in London session), consolidate and reverse for a scalp eventually back inside the opening range.
Short: primary, the market is currently breaking down, placing a lower low during London session and pumped back up into the previous LOD. If the market will retest that level (high of session as well), I will be willing to take a short trade back into the current LOD and don't forget that on the bigger picture it can also perform a 4 weeks pump and dump.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
USOIL Potential DownsidesHey Traders, in today's trading session we are monitoring USOIL for a selling opportunity around 68.80 zone, USOIL is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 68.80 support and resistance area.
Trade safe, Joe.
WTI OIL Channel Down prevailed. Lower Low expected.WTI Oil (USOIL) eventually failed to recover the 1D MA50 (blue trend-line), which has been the Resistance since August 13, and reversed the short-term rebound. The 3-month Channel Down appears to have prevailed and technically is now looking for its third Lower Low.
The previous two declined by -18.47% and -15.18% respectively, so roughly we same % drop. As the 1D MACD formed a Bearish Cross today, we can claim that we have the necessary confirmation for a Bearish Leg that at best, we are half-way on it.
Assuming the minimum drop of -15.18%, we expect to see at least $62.00 before this Leg prices the Lower Low.
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[OIL] On the floorTVC:USOIL is still weak and now dropping towards the floor. A bounce is possible, at least to release the downward pressure a little bit. I see the MACD as the clue, already showing a bit of life.
Still bearish, but possible bounce for scalp trades.
Crude Oil Prices Are Falling.When the USDWTI 4-hour chart is examined; It is observed that the price movements continue with the head and shoulders formation on the trend line. As long as the Crude Oil price cannot pass the 70.28 level, it is evaluated that the price movements below the 68.68 level may break the 66.97 level and retreat to the 62.18 level.
Weekly Outlook Sep 30 - Oct 4 $USOILDespite escalating tensions in the middle east, TVC:USOIL keeps declining. The market seems more focused on global economic growth beyond other factors. Now that the US is the largest oil producer, Geo-political tensions have less of an effect on global energy prices.
WTI Is Sending Bullish SignsThis is a long setup based on a divergence in the Positive Volume Index and the Negative Volume Index. We see that the PVI is showing a hidden bullish divergence while the negative volume is declining. We select the open POC of the downward movement at around 72.05 dollars as the price target for the long trade.
USOIL / UNDER BULLISH PRESSURE - 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
Recent Decline , Prices began to drop at the end of September by 7.12%. This indicates a noticeable downtrend, which could be driven by various market factors.
Support Level at 67.22 , Currently, prices are trading slightly above this key support level. If the price breaks below 67.22, it may trigger a further decline of 9.80%.
Potential for Rebound , If the support level holds, a potential rise could occur. Two potential rise targets are a 3.48% increase and a 6.27% increase, depending on how strong the support level is and whether positive momentum returns.
Technical Analysis:
Current Support Level , The price of USOIL is currently above 67.22. This level serves as a critical support point; if prices remain above this, it suggests bullish sentiment.
Target Range (FVG) , If prices hold above 67.22, the analysis predicts an upward movement toward a Fair Value Gap (FVG) area between 68.73 and 69.48. This implies potential buying interest or liquidity in that range.
Further Resistance , If the price breaks through the FVG area, it could rise further to reach a resistance level at 71.74. This indicates a bullish outlook if the upward momentum continues.
Conversely, if the price drops below 67.22, it suggests a bearish trend, potentially declining to 65.24. This indicates a shift in sentiment from bullish to bearish.
CRUDE OIL (WTI): Intraday Bearish Confirmation
Update for WTI Crude Oil.
Earlier, I share a very bearish setup on a daily.
Analyzing the intraday time frames today, I spotted
a strong bearish confirmation on an hourly.
Retesting a recently broken horizontal resistance,
the price dropped and violated a support line of a rising wedge pattern.
It is an important sign of strength of the sellers.
With a high probability, the price will drop at least to 67.15 level.
❤️Please, support my work with like, thank you!❤️
Fundamental factors have the main impact on the WTI trendTVC:USOIL ended up slightly higher last Friday but fell more than 3% for the week as markets gauged expectations for increased global supply and considered new stimulus measures from major countries in Asia, which import leading crude oil exporter.
- On one hand, OPEC+ plans to start increasing production in December, which has been particularly suppressive on oil prices and was the main negative factor for the oil market last week.
- On the other hand, the withdrawal of many stimulus policies by major powers, expectations that the Federal Reserve will cut interest rates further and the escalating conflict in the Middle East still provide some support for oil prices.
Central banks of major Asian countries cut reserve requirements and interest rates last Friday, and governments of major Asian countries are launching a final round of stimulus to boost growth. The economy returns to the target of about 5% this year.
Israel said it bombed Houthi rebel targets in Yemen on Sunday (September 29) and continued airstrikes in Lebanon, expanding its alliance with Iran in the region two days after killing the leader of Hezbollah. Sayyed Hassan Nasrallah during the confrontation.
On the daily chart, TVC:USOIL Currently trading quite stable after recovering from the support level of 67.26USD. Note to readers in the previous issue. The recovery momentum is also being limited by the 0.236% Fibonacci retracement level and the horizontal resistance level of 69.31USD.
However, looking at the overall technical picture, WTI crude oil is having more bearish conditions with the main trend from the price channel, pressure from EMA21 and weak recovery momentum when the RSI Strength Index turns down. price reduction signal.
In the near term, if WTI crude oil continues to be sold below the important technical level at 67.26USD it is likely to continue to decline more with a target level of 65.25USD. Even if WTI crude oil recovers further, it will still be limited by the EMA21, the 0.382% Fibonacci retracement level and the upper edge of the price channel.
The bearish trend in WTI crude oil dominates the daily technical chart, and notable technical levels are listed below.
Support: 67.26USD
Resistance: 68.74 – 69.31USD
Trade idea - USOIL LongBullish impulse / new HH: indication.
Inverse Head & Shoulders: Confirmation.
Clear support & resistance zone is there.
1H perspective: Corrective approach towards entry zone.
= Buy limit.
OIL Short - Don't Slip On Your Longs BoysHey everybody, so while obviously the media is all about the Israel conflict I think we are still far away from being at the bottom. We just wicked today, on a monday, the friday high, started to show some major rejection signs which gives me the green light for a short "experiment" to finally wick the low weekly and daily levels. Remember boys, the best trades appear when the masses got stop out, not the other way around.
WTI Oil H4 | Falling to 78.6% Fibonacci retracement supportWTI oil (USOIL) is falling towards a swing-low support and could potentially bounce off this level to climb higher.
Buy entry is at 67.14 which is a swing-low support that aligns with the 78.6% Fibonacci retracement level.
Stop loss is at 65.00 which is a level that lies underneath a swing-low support.
Take profit is at 72.15 which is a multi-swing-high resistance that aligns close to the 61.8% Fibonacci retracement level.
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Crude Oil continues the downtrendOn Crude Oil , it's nice to see a strong sell-off from the price of 69.660. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.
I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.
The S/R zone from the past and high volume cluster are the main reasons for my decision to go long on this trade.
Happy trading,
Dale
Bearish reversal off overlap resistance?USOUSD is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 70.48
Why we like it:
There is an overlap resistance level which aligns with the 50% Fibonacci retracement.
Stop loss: 72.55
Why we like it:
There is an overlap resistance level.
Take profit: 67.99
Why we like it:
There is a pullback support level.
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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.
