OIL CRASH!as you can see on the medium to long term USOIL is going to 50 and then 25 based on chart pattern
OILUSD trade ideas
WTI CrudeWe can see that so far Oil is forming a symmetrical triangle, breaking downwards could make a bearish pennant - in that case price could well drop to 67$,if it would break upwards - we could see a recovery. So far Crude on 4h.TF staying above ema20 what indicates a strong trend. I have shared few possible scenarios.
65.00 Is still ValidWe have buystops resting right at 68.60. Could be a possible false breakout to the upside and a reversal next week to take out This Weeks' Low
USOIL Will Go Higher! Long!
Take a look at our analysis for USOIL.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 67.55.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 71.74 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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sell the .382 see chart as i outlined my thoughts ... short in my bias but long till the .382 maybe 618 but she will go down that's a given
USOILThis setup focuses on a long opportunity in USOIL , where conditions suggest a potential upward move. Entry, Take Profit, and Stop Loss levels are clearly marked on the chart. The strategy is based on expecting continued bullish momentum, with favorable conditions lining up for further gains. Monitoring closely for price to hold key levels before entering the trade. Always manage risk, as oil markets can be highly reactive to economic shifts.
CRUDE OIL (WTI): Potential to Drop Lower
WTI Crude Oil broke and closed below a key daily horizontal support.
The broken structure and a falling trend line compose a contracting
supply zone now.
With a high probability, the price will drop from that zone all the way down
to 66.3 level - the closest historic support.
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Market Analysis: Oil Price Dips FurtherMarket Analysis: Oil Price Dips Further
Crude oil is showing bearish signs and might decline below $66.80.
Important Takeaways for Oil Price Analysis Today
- Crude oil prices failed to clear the $72.20 region and started a fresh decline.
- There is a connecting bearish trend line forming with resistance at $68.10 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to clear the $72.20 resistance zone against the US Dollar. The price started a fresh decline below the $70.00 support.
The price even dipped below the $68.00 level and the 50-hour simple moving average. The bulls are now active near the $66.80 level. A low was formed at $66.82 and the price is now consolidating losses. If there is a fresh increase, it could face resistance near the 23.6% Fib retracement level of the downward move from the $72.19 swing high to the $66.82 low.
There is also a connecting bearish trend line forming with resistance at $68.10. The first major resistance is near the $69.50 level or the 50% Fib retracement level of the downward move from the $72.19 swing high to the $66.82 low.
Any more gains might send the price toward the $70.90 level. Any more gains might call for a test of $72.20. Conversely, the price might continue to move down and revisit the $66.80 support. The next major support on the WTI crude oil chart is $66.00.
If there is a downside break, the price might decline toward $65.00. Any more losses may perhaps open the doors for a move toward the $62.50 support zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Bearish drop?USOUSD is rising towards the resistance level which is an overlap resistance that aligns with the 23.6% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 69.06
Why we like it:
There is an overlap resistance level that aligns with the 23.6% Fibonacci retracement.
Stop loss: 71.26
Why we like it:
There is an overlap resistance level that lines up with the 61.8% Fibonacci retracement.
Take profit: 65.90
Why we like it:
There is a pullback support level.
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WTI Oil H1 | Bearish downtrend to resume?WTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 68.28 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level.
Stop loss is at 68.90 which is a level that sits above an overlap resistance.
Take profit is at 66.21 which is a swing-low support.
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Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
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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.
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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.
USOILUOIL is in reversal zone
Bullish divergece also shown in RSI.
This shows that oil price will goes up form here.
we wait and watch for the breakout of last LH.
Oil Rises on Middle East Tensions Capped by Weak Chinese demandCrude Oil Prices Recover Amid Escalating Middle Eastern Conflict, Weak Chinese Demand Caps Gains
Crude oil prices have found support following a larger-than-expected U.S. interest rate cut, and further escalation of the Middle Eastern conflict could drive prices higher. However, weak demand from China continues to limit potential gains.
Technical Outlook:
As long as the price remains below $71.78, it is expected to stay within the bearish zone, with a potential decline of $68.80. However, a break above $71.78 would signal a bullish shift towards $72.72 and potentially $75.00.
Key Levels:
Pivot Point: 71.35
Support Levels: 70.60, 68.80, 67.70
Resistance Levels: 72.72, 74.25, 75.35
Expected Trading Range: 71.80 - 68.80
Trend: Bearish while the price remains below 71.78
WTI LONG I've decided to open a new long position in oil FPMARKETS:WTI , despite the odds not being particularly favorable. My reasoning is based on observing strong support at the daily Fair Value Gap (FVG), which I had been waiting for to confirm a solid reaction before entering.
On the weekly chart, the outlook leans more bearish, and this week’s performance will be crucial in determining the market's clear direction.
While the 1-hour chart shows a decent reaction, it’s from a lower timeframe, which doesn’t carry much weight in terms of broader market strength.
Looking at the daily timeframe, the market structure is not encouraging. We’ve seen a consistent pattern of lower swing lows, adding pressure to the overall setup.
Trading management
However, on the 15-minute chart, this trade aligns perfectly with my approach: stop-loss just below the wick, as the candlestick has shown strong respect for this level. My take-profit is targeting liquidity on the buyer’s side. I plan to take partial profits at $71.46 and move my stop-loss to break even.
71.46-->RR: 4.19
74.24-->RR: 7.54
Capital risk: 1%
Crude turns lowerOn the first Tuesday of this month, when traders returned after the long US Labor Day weekend, front-month WTI slumped below $65 per barrel to hit its lowest level since May 2023. This proved to be the culmination of a 23% decline which began in early July. Oil was very oversold, and prices subsequently turned higher, but not aggressively so. In fact, it took a fortnight for WTI to get back above $72 for a total gain of 11%. Two days after this most recent high, crude is back below $68, for high-low swing of over 7%. In other words, it has taken just two days to wipe out over 60% of the gains which took two weeks of grind to build. As with most things in life, it’s so much easier to knock something down than to build it. Now crude is in an interesting juncture. Could this just be a straightforward correction ahead of a more protracted, and larger, turn higher? Or is it the first leg in the resumption of a bear market? It appears that Saudi Arabia’s decision to ramp up production and abandon its $100 price target triggered the latest sell-off. But it also seems apparent that as far as oil traders are concerned, there’s zero belief that China’s proposed stimulus measures announced earlier this week, will do much to bolster the country’s ailing economy.
WTI USOIL Buying Opportunity HYELLO FRIENDS as i can see us oil is trading in uptrend channel and now testing a strong support zone its a great opportunity to buy us oil till design TP today crude oil inventories can boost this trade idea its just an idea share Ur thoughts with us it helps many other traders
USOIL: A bunch of Fib retracements + previous structureI think the title and chart says it all.
Short entry at 72.3
Target 68.4
USOIL - Near his resistance? Holds or not??#USOIL... market retest his monthly resistance in yesterday and closed below that.
And the ressistance was 72.35 around.
Keep close that area because if market hold it then drop expected below that.
Good luck
Trade wisely
USOIL / TRADNING ABOVE SUPPORT LEVEL AT 67.19 - 4H USOIL / 4H TIME FRAME
HELLO TRADERS
Price Decline of 7.16%: The analysis suggests that there has already been a price drop of 7.16%. This could be the starting point for further analysis or an event that has already occurred.
Breaking and Stabilizing Below 67.19: The level 67.19 seems to be a significant support or resistance point. If prices break below 67.19 and stabilize, it indicates a bearish trend. This might suggest that further declines are likely.
Further Decline of 9.71%: Should the price fall and stabilize below 67.19, the analysis anticipates an additional 9.71% decline.
Current Trading Above 67.19: Presently, prices are still above the 67.19 level, signaling that the market has not yet broken this key point.
Expected Increase of 10.36% : The text predicts an upward movement of 10.36%, potentially implying bullish momentum if the price continues to hold above 67.19.
Possibility of Further Increase: There’s a suggestion that the price could rise even more beyond the 10.36% increase if current trends hold.
Technical Analysis:
Current Market Condition:
The asset is under bullish pressure , As long as the price remains above 67.19, the bullish momentum is expected to continue.
Upward Condition:
- Target 1: If the price trades above 67.19, it's expected to rise to 71.51.
- Target 2: If the price stabilizes above 71.51, the next target is 72.16.
Downward Condition:
- If the price falls below 67.19 , it suggests a potential decline:
- Target 1: A decline to 65.34.
- Target 2: If it breaks below 65.34, further decline is expected to 63.93.
Oil Short Term Sell IdeaH1 - Strong bearish momentum
Lower lows
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
CRUDE OIL longthe price of Oil just reached a weekly demand level and formed a bullish weekly candle which means from my trading analysis perspective the Oil has to breath and hit the 74.10 , m expecting the next days to be bullish on Oil , keep ur eyes on it
WTI Oil H1 | Downward momentumWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 68.70 which is a pullback resistance.
Stop loss is at 70.10 which is a level that sits above the 50.0% Fibonacci retracement level and an overlap resistance.
Take profit is at 66.21 which is a swing-low 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.
Rejected Day Resistance Sell 4H below 200maRejected Day/week Resistance Sell 4H below 200ma 1.5 Ratio
Usoil to head higher...Oil has price has been selling lower until a month supply zone was mitigated. Ever since oil has been bullish, yesterday oil price started to head lower. This low move is expected to test the previous low. If price fail the low, buy order are expected to be at 65.71 to 65.45. This to target the newly created high.
