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Oil - Crude (WTI)

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OIL_CRUDE trade ideas

Oil Drops Below $68 Amid Trade Wars and Oversupply RisksCrude Oil drops on oversupply risks and weakening demand expectations Key Events: - Trade wars between the world’s largest economies heightens inflation and economic contraction risks - OPEC plans to unwind supply cuts in April despite oversupply concerns. - Trump - Ukraine dispute may disrupt oil's bearish trend if tensions escalate with the EU and Russia. Key Levels: Oil eyes a 4-year support zone ($63.80–$66), and the potential for the consolidation to extend above that zone persists. - A close below $63.80 may extend declines to $61.50, $60, and $55 (aligning with the 0.618 Fibonacci retracement of the 2020-2022 uptrend. - A hold above $68.80 could cap gains at $70.50, $73.50, and $75. Upside potential on Oil is expected to remain short-lived given the bearish implications of trade wars in tandem with oil's 2022 - 2025 dominant downtrend. A clean close above 78-80 zone may reinforce longer term bullish expectations. - Razan Hilal, CMT
FOREXCOM:USOIL
by FOREXcom
Oil drops againCrude oil rallied sharply last Thursday, but not by enough to push prices into positive territory for the week, let alone the month of February. It went on to sell off sharply yesterday, following a report that OPEC+ would not be extending their production cuts beyond April. The production cuts have been running since May 2023, and have been extended on several occasions. Most analysts believed that OPEC would roll over the cuts beyond April, given the supply dynamics that have kept prices subdued, along with a succession of downgrades to the demand growth outlook. It is now estimated that supply will be boosted by an additional 138,000 barrels per day, mostly from Saudi Arabia and Russia. With Trump’s tariffs on Mexico and Canada kicking in today, and with China retaliating against additional tariffs with levies of its own on US imports, the world trade situation is getting increasingly, and unnecessarily, complex. Front-month WTI continues to trade south of $70 per barrel and this will be its first hurdle on any rally attempt. The daily MACD is in negative territory, but it is not back to the kind of oversold levels from which big rallies have previously begun. Overall, it feels as if the bears have control, having driven back prices from the highs made in mid-January. Back then, crude looked as if it had finally broken out of a downtrend which had been building from September 2023. Crude was lower again this morning, shrugging off some relatively upbeat manufacturing data from China. Investors have yet to be convinced that the Chinese economy is ready to recover from its disastrous property collapse. This saw the evaporation of billions of yuan, with a significant proportion owned by private citizens, and the subsequent loss of confidence. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
TRADENATION:WTI
by TradeNation
USOIL As we can see price is approaching the previous highs that supply was made .This level is now a resistance point . In current trades , traders can secure a profit target at that level . Now If the price breaks that level which is 70.32, we can expect price to further on continue a bullish movement towards 71.13 after a break and retest depending on the momentum of the market . Traders are therefore encouraged to look at these key levels if we expect a beginning of a bullish trend. Further swings could be aimed at 71.55 - 71.98 Wish you the best of luck 💯
TVC:USOILLong
by manuelyeboah33
1
USOIL Buyers In Panic! SELL! My dear followers, This is my opinion on the USOIL next move: The asset is approaching an important pivot point 69.92 Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 69.38 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
TVC:USOILShort
by AnabelSignals
1
USOIL Short Idea - 4H ChartWTI Crude Oil (USOIL) is currently facing strong resistance at the 70.50 - 71.00 supply zone, aligning with the 200 EMA rejection and previous structural resistance. The price has failed to break above this level and is showing signs of bearish momentum. Trade Setup: 🔹 Entry: Look for bearish confirmation near the 70.50 - 71.00 supply zone. 🔹 Stop Loss: Above 71.20, beyond recent highs to avoid stop hunts. 🔹 Target: The next major support zone near 66.00 - 66.50, a key demand area. The trend remains bearish below the 200 EMA, and the recent pullback into resistance presents a potential continuation of the downtrend. If price holds below the resistance zone, expect a further decline towards lower support levels. 📉 Watch for: Bearish rejections, engulfing candles, or lower timeframe confirmations before entering a short position. 🔔 Stay patient and follow risk management! 🚀
TVC:USOILShort
by SanchoAT
Market Analysis: Oil Price Eyes RecoveryMarket Analysis: Oil Price Eyes Recovery Crude oil price is recovering and it could climb further higher toward the $71.80 resistance. Important Takeaways for Oil Price Analysis Today - Crude oil prices are moving higher above the $68.90 resistance zone. - There is a connecting bullish trend line forming with support at $69.50 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 started a decent increase against the US Dollar. The price gained bullish momentum after it broke the $68.90 resistance. The bulls pushed the price above the 50-hour simple moving average and the RSI climbed toward 65. There was a clear move above the 50% Fib retracement level of the downward move from the $71.12 swing high to the $68.24 low. Immediate resistance is near the $70.45 level. It is close to the 76.4% Fib retracement level of the downward move from the $71.12 swing high to the $68.24 low. If the price climbs further higher, it could face resistance near $71.10. The next major resistance is near the $71.80 level. Any more gains might send the price toward the $72.50 level. Conversely, the price might correct gains and test the $69.50 support. There is also a connecting bullish trend line forming with support at $69.50 and the 50-hour simple moving average. The next major support on the WTI crude oil chart is near the $68.90 level. If there is a downside break, the price might decline toward $68.25. Any more losses may perhaps open the doors for a move toward the $66.50 support zone. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. 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.
FXOPEN:XTIUSD
by FXOpen
1
USOILSeveral upcoming economic data prints could significantly affect oil prices: 1. OPEC+ Production Levels Impact: OPEC+ production cuts have been crucial in maintaining oil prices. Any changes to these cuts could influence supply and prices. Data Print: Announcements about extending or easing production cuts will be closely watched. 2. U.S. Crude Oil Inventories Impact: Changes in U.S. crude oil inventories reflect supply and demand imbalances. Lower inventories suggest stronger demand or reduced supply, potentially boosting prices. Data Print: Weekly inventory reports from the EIA will be key in assessing market conditions. 3. Global Demand Growth Impact: Stronger-than-expected demand growth, particularly from major consumers like China, could support higher oil prices. Data Print: Reports from the IEA and EIA on global demand growth will be important. 4. U.S. Sanctions on Major Oil Producers Impact: Sanctions on Russia, Iran, and Venezuela can disrupt global supply, potentially leading to price increases. Data Print: Updates on sanctions enforcement and their impact on oil exports will influence prices. 5. EIA Forecasts Impact: The EIA's forecasts for oil prices, production, and demand provide valuable insights into future market conditions. Data Print: The EIA's Short-Term Energy Outlook (STEO) reports will offer guidance on expected price trends. Brent Price Forecasts: The EIA forecasts Brent crude to average $74 per barrel in 2025, with prices potentially falling to $66 per barrel in 2026 due to increased global production and slower demand growth. U.S. Production: The EIA expects U.S. crude oil production to reach a record high in 2025, averaging 13.59 million barrels per day. These data prints will provide critical insights into supply and demand dynamics, influencing oil prices and market sentiment.
FX:USOIL
by Shavyfxhub
Potential bullish rise?WTI Oil (XTI/USD) is falling towards the pivot and could bounce to the 1st resistance level. Pivot: 68.82 1st Support: 66.66 1st Resistance: 73.03 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.
ICMARKETS:XTIUSDLong
by ICmarkets
Crude Oil Technical Outlook: Range Breakdown & Next Targets🔹Key Observations: 1. Range Formation & Breakout: - The price was consolidating within a range (highlighted in the pink box). - A range breakout trading setup is identified. - The price has broken below the range support, signaling potential downside momentum. 2. Breakout Confirmation: - The price has moved below a key support area (marked in blue). - The breakdown indicates a potential continuation of the downtrend. 3. Downside Targets: - 1st Target: $68.00 (first green line). - 2nd Target: $67.05 (second green line). - If the price sustains below the breakout level, these targets could be reached. 4. Volume Analysis: - The volume bar at the bottom suggests increased selling pressure. - The breakout occurred with notable volume, which confirms bearish sentiment. ▪️Technical Outlook: - Bearish Bias: The chart suggests a bearish move with downside targets aligned at $68.00 and $67.05. - Watch for Retest: If the price pulls back toward the breakout zone, it may confirm the breakdown before further decline. - Invalidation Level: A strong recovery back above the blue support zone could invalidate the bearish setup. 😊Don't Forget To Hit The Like Button & Share Your Thoughts In Comments.
TVC:USOILShort
by SOAM_PRO_TRADER