Heading into 61.8% Fibonacci resistance?WTI Oil (XTI/USD) is risng towards the pivot which has been identified as a pullback resistance and could reverse to the 1st suport which acts as a pullback support.
Pivot: 65.64
1st Support: 57.71
1st Resistance: 71.18
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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.
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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.
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OIL_CRUDE trade ideas
WTI Crude Oil selling pressure below 6200The price sentiment for WTI Crude Oil remains bearish, in line with the prevailing downtrend. Recent price action shows an oversold rally, which has stalled near a previous consolidation zone around 6200 — a key resistance level.
Key Resistance Level: 6200
This level marks a previous intraday consolidation area and could act as a ceiling for the current rally.
Bearish Scenario:
If WTI fails to break above 6200, it may resume its decline toward:
5860 (near-term support)
5713
5550 (longer-term support)
Bullish Scenario:
A confirmed breakout and daily close above 6200 would shift momentum and open upside targets at:
6375
6533
6700
Conclusion:
WTI Crude Oil remains under bearish pressure unless it breaks and closes above 6200. Traders should monitor this level closely for signs of rejection or breakout.
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Buy Opportunity🛢️ WTI Crude Oil (4H) – Bullish Reversal Setup
WTI has hit a significant support zone near $59.30, aligning with a previous demand area and low-volume node from earlier consolidation. Price action suggests potential exhaustion in the selling momentum as indicated by the histogram flattening.
🟢 Entry: $59.32
🎯 Target: $64.69 – Previous swing high and key supply level
🛑 Stop Loss: $57.32
📊 Risk/Reward Ratio: 2.79
📆 Target Date: May 6, 2025
📈 Projected Move: +9.06% / +$5.37
🔍 Key Observations:
Strong support area with prior reaction.
Price now trading at low end of value zone (yellow-blue volume profile), often signaling reaccumulation.
Histogram shows bearish momentum waning – potential for shift in trend.
A move above $61.83 could accelerate bullish continuation.
📌 Bias: Bullish – Buy the dip with confirmation above $60 for safer entry.
OIL TRADE IDAHello
Hi everyone. Regarding oil movements, I see a long opportunity at the level of 59.61. If the price closes below 58.56, there is a possibility of a temporary rise before continuing to drop to 55.
good luck all
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading my skills also for my trade journal**
Thanks a lot for your support
USOIL: Bearish Forecast & Outlook
The recent price action on the USOIL pair was keeping me on the fence, however, my bias is slowly but surely changing into the bearish one and I think we will see the price go down.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Could the price bounce from here?USO/USD is falling towards the support level which is a pullback support that lines up with the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 59.32
Why we like it:
There is a pullback support level that lines up with the 61.8% Fibonacci retracement.
Stop loss: 57.02
Why we like it:
There is a pullback support level.
Take profit: 62.08
Why we like it:
There is an overlap resistance level.
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WTI Oil H4 | Bearish reversal off an overlap resistance?WTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 62.04 which is an overlap resistance.
Stop loss is at 64.95 which is a level that sits above a multi-swing-high resistance.
Take profit is at 59.18 which is a swing-low support that aligns close to a 61.8% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Tradu (‘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.
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Bearish drop off pullback resistance?WTI Oil (XTI/USD) has rejected off the pivot which is a pullback resistance and could drop to the pullback support.
Pivot: 61.64
1st Support: 59.89
1st Resistance: 63.13
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.
USOIL Long Idea#USOIL
Under current market conditions, the area near 62.28 has been identified as a critical support zone, where the AI model detects a high-probability trade setup.
From a technical perspective, a clear directional bias based on recent price action patterns. If the market demonstrates increased volume and price stability above key moving averages in the 62.28 area, traders are advised to monitor for trend-continuation entry opportunities in alignment with the prevailing momentum.
Profit targets are defined at 63.67 and 64.86, corresponding to logical technical resistance zones. These levels are designed for staged profit-taking across different trade management styles. Stop-loss should be strictly enforced at the designated level; once breached, the strategy is considered invalidated in order to limit potential downside.
#USOIL 4HUSOIL (4H Timeframe) Analysis
Market Structure:
The chart is forming a classic Head and Shoulders pattern, which often signals a potential reversal from an uptrend to a downtrend. The left shoulder, head, and right shoulder are clearly visible, and the neckline is an important support zone to monitor.
Forecast:
A sell opportunity may be considered if the price breaks and closes below the neckline with confirmation. This breakdown could indicate the start of a bearish trend continuation.
Key Levels to Watch:
- Entry Zone: Look for a sell setup once the neckline is broken and retested as resistance.
- Risk Management:
- Stop Loss: Positioned above the right shoulder to minimize risk.
- Take Profit: Target nearby support zones or use a measured move technique based on the pattern's height.
Market Sentiment:
As long as the neckline holds and the breakdown is confirmed, bearish momentum is likely. A failure to break below the neckline would delay or invalidate the selling setup.
Is this still the ‘Top Trade’ of 2025? (WTI crude oil)It’s not a big secret actually- I’m talking about crude oil!
In the final week of 2024, the team and I highlighted two versions of the WTI crude oil weekly chart and asked ‘is this the top trade of 2024?’
Version 1 has already happened, WTI crude hit $55 per barrel, the downside objective of the smaller triangle pattern on the chart.
Version 2 showed a much larger triangle pattern (which we show again this week) and had a downside target of nearly $30! It would take a lot of conviction to ride the price that far down, but could crude oil still move a lot lower this year?
What’s interesting is that this is still one of the ‘less talked about’ situations in the market today because of the huge volatility seen in both stocks, forex and fixed income.
And I like that nobody’st talking about it - because you don’t want everyone in on it - that means the move could already be over.
Crude oil hit a five-year low. That’s meaningful.
Strong markets don’t hit 5-year lows, weak markets do. And we like to sell weak markets.
Of course, ‘oversold markets’ hit 5-year lows too - and that largely explains the ‘bottom feeders’ who bought WTI crude oil at $55.
Downside volatility got extreme owing to Trump’s tariffs and mean-reversion helped it rebound on news of the 90-day pause, much like stock markets.
I am completely open to the idea that $55 is a multi-year low and essentially marked the bottom. The huge Hammer reversal candlestick pattern adds weight to that idea.
But with the price having hit $65 last week, buying the lows is yesterday’s trade. What do we do today?
We will be looking to do what we said in Week 53 of 2024 in case crude oil turns out to be the ‘top trade of 2025’ as we imagined.
By the way, Brent crude oil has a very similar setup so this is not a ‘US oil’ thing.
There are two parts to trading ‘planning the trade, and trading the plan’.
There isn’t much use in making a plan, and not taking the trade.
There are always reasons not to take a trade- but if it’s a ‘good trade’ that fits the rules of your trading strategy, then those reasons are usually just ‘noise’.
WTI Crude (USO/USD)
Long term chart (weekly)
Trend: Down
Phase: Re-test of breakdown
Resistance = $70
Support = $55
Price action: Price has broken down, rebounded and is now testing the breakdown level, while under the 30-week moving average. Should the price break back over the broken long term rising trendline then we know the idea, or at least the timing on the idea is not right.
View: Bearish while under broken up-sloping long term support
Bullish on USOILAs the chart shows, in the 1 - hour timeframe, USOIL is in an upward - trending channel 📈. The price fluctuates upwards between two trendlines. Despite pullbacks, the uptrend persists, suggesting short - term bullish dominance. Still, the frequent swings reveal ongoing bull - bear market battles.📈
⚡⚡⚡ USOIL ⚡⚡⚡
🚀 Buy@61.5 - 62.0
🚀 TP 63.5 - 65.0
Accurate signals are updated every day 📈 If you encounter any problems during trading, these signals can serve as your reliable guide 🧭 Feel free to refer to them! I sincerely hope they'll be of great help to you 🌟
USOIL Opening Trends and Trading Strategies Next WeekTrend Analysis
As shown in the chart, in the 1 - hour time frame, USOIL is moving within an upward - trending channel 📈. This channel is defined by two trendlines, and the price is fluctuating upwards within it. Although there have been pullback trends during this period, the overall trend remains upward. This indicates that in the short term, the bullish forces are relatively dominant, driving the price to gradually climb 📈. However, the frequent price fluctuations also reflect a certain degree of game - playing between the bulls and bears in the market 🤺.
⚡⚡⚡ USOIL ⚡⚡⚡
🚀 Buy@61.5 - 62.0
🚀 TP 63.5 - 65.0
Accurate signals are updated every day 📈 If you encounter any problems during trading, these signals can serve as your reliable guide 🧭 Feel free to refer to them! I sincerely hope they'll be of great help to you 🌟
CRUDE OIL Move Down Ahead! Sell!
Hello,Traders!
USOIL was making a
Bullish correction but
It is in the downtrend
Overall, so as the price
Is hovering beneath the
Horizontal resistance
Of 64.80$ from where
We will be expecting a
Local bearish correction
Sell!
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
WTI: B- tradeA page from my trading journal. Please take it with a grain of salt, as I’m still learning and growing 🌟
Bias balance
• Short (Fade 64.50)
– Risk: Small SL (tight)
– Reward: 3–4 points
– Probability: High
– Setup Grade: B
• Long (Breakout > 64.50)
– Risk: Moderate
– Reward: 3–5 points
– Probability: Medium
– Setup Grade: B-