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WTI trade ideas

WTI CRUDE OIL: 1H Death Cross suggests another Low is coming.WTI Crude Oil is bearish on its 1D technical outlook (RSI = 42.281, MACD = -0.560, ADX = 26.062) with the bearish bias evident as in the last 3 weeks the price is trading inside a Channel Down. The formation of a 1H Death Cross earlier today, draws comparisons with the October 15th one. Both price actions found a temporary support on the 1.382 Fibonacci level at the time of the Death Cross but the 1H RSI was rebounding on a bullish divergence. We expect the price to extend replicating that bearish wave and approach the 1.618 Fib eventually (TP = 66.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:USOILLong
by ShahedZare
Oil futures plunged 6% intraday on weak demandConflict in the Middle East has failed to sustain the oil risk premium Despite the ongoing conflict in the Middle East, the crude oil market interpreted the recent events as a step towards de-escalation, leading to a gradual receding of risk premiums in the region. Over the weekend, Israel launched air strikes on missile sites inside Iran, which Iranian authorities claimed caused limited damage. Israel's choice not to target Iran's nuclear facilities or oil infrastructure, coupled with Tehran's restrained response, has led traders to view the likelihood of an immediate escalation of the conflict affecting oil supplies as low. The easing of geopolitical tensions has brought the market's attention back to underlying demand concerns and broader economic factors that continue to weigh on oil prices. Weak demand in Asia and Opec's production strategy Weak global demand has become the main driver of lower crude prices. Opec + has postponed a production increase originally planned for October, rescheduling it for December to avoid pushing prices down further. The alliance now aims to add 180,000 barrels a day by 2025, gradually increasing supply to stabilize prices. On the demand side, the expected growth in global demand, especially in Asia, has not been as strong as expected. With the spread of electric vehicles around the world, analysts warn that it may not significantly boost crude oil demand. Outlook: Short-term bearish on weak demand signals In the short term, oil prices appear to be under pressure from weak demand signals in key markets and little impact from the conflict in the Middle East. With major technical resistance levels and lacklustre demand weighing on the market, traders should expect a bearish outlook for oil prices unless global economic conditions improve or geopolitical tensions escalate, thereby directly threatening oil supply infrastructure. Near-term risks remain tilted toward further declines in crude oil prices as supply concerns fade and demand growth fails to keep pace with expectations. Technical analysis From a daily perspective, WTI crude oil futures prices, after falling to a low of $68.20 at the opening on October 18, rebounded ahead of an uptrend that began on September 10. Given the price action since then, it is clear that there are still plenty of willing buyers out there, despite the constant drumbeat of bearish fundamental news. While the opening gap may be closed in the near future, from a risk-reward perspective, it is best to enter at a lower level when trading long, allowing stops to be placed below the session low or the September 10 uptrend for protection. If that gap were to be filled, that would mean an initial trading target would be Friday's close of $70. After that, if the initial target level is reached, the 50 moving average and resistance above $71.67 are other targets.
TVC:USOIL
by xrrsxrrs
WTI Oil H4 | Potential bearish breakoutWTI oil (USOIL) is falling towards a potential breakout level where the bearish momentum could drive it lower. Sell entry is at 67.16 which is a potential breakout level. Stop loss is at 68.20 which is a level that sits above the 23.6% Fibonacci retracement level and a pullback resistance. Take profit is at 65.64 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. 64% 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. 66% 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.
FX:USOILShort
by FXCM
Oil spikes on escalation fearsCrude oil continues to push up off the lows hit on Tuesday when front-month WTI broke below $67 per barrel for the first time since the beginning of October. Since then, oil has managed to build some upside momentum, although it’s far too early to tell if there’s a definitive change in direction. Nevertheless, things are looking better for the bulls, in some respects. The daily MACD has begun to turn higher, although it still remains in negative territory. Yesterday evening, prices suddenly surged higher in a move which took front-month WTI from $69 to $70.50 in less than an hour. The jump came after Israeli intelligence reported that Iran was planning to attack Isreal from its bases within Iraq. This should keep markets off balance as the weekend approaches. Traders will be on alert over the weekend. And beyond, in the absence of an attack. But it also means that yesterday’s rally is likely to unwind completely should any attack prove ineffectual. Despite this, it is potentially another step up in the escalation of hostilities which is starting to normalise direct military contact between Israel and Iran, rather than with Iran’s proxies.
TRADENATION:WTI
by TradeNation
UsOIL Long Buy due to lower Support Hello Traders In This Chart XTIUSD HOURLY Forex Forecast By FOREX PLANET today XTIUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
TVC:USOILLong
by ForexMasters2000
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. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
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
FX:USOILLong
by timwest
1