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USOIL / TRADING ABOVE SUPPORT LEVEL - 4HUSOIL / 4H TIME FRAME HELLO TRADERS The First Scenario , The support level at 65.35 acts as a critical threshold; as long as prices remain above it, buyers dominate, pushing the price towards 68.74 and then 69.98. This rise reflects increased confidence in an uptrend. For the trend to be fully confirmed, prices must stabilize above 69.98, signaling sustained momentum, which could lead to a further increase to 71.59. The Second Scenario , if the price breaks below 65.35 and stabilizes, it indicates a shift in market sentiment, with sellers gaining control and potentially driving the price down to 63.35, followed by 62.65 This technical analysis underscores the importance of price levels in predicting future market movements and investor behavior. UPWARD TARGET : 68.74 , 69.98 , 71.59 . DOWNWARD TARGET : 63.35 , 62.65 .
TVC:USOILLong
by ArinaKarayi
WTI Oil H4 | Potential bearish reversalWTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 68.80 which is an overlap resistance. Stop loss is at 71.65 which is a level that sits above the 50.0% Fibonacci retracement level and an overlap resistance. Take profit is at 65.24 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.
Editors' picks
FX:USOILShort
by FXCM
7
USOIL remains under pressureFrom a technical perspective, USOIL extended its decline within the descending channel. MACD is holding below the zero threshold, indicating further downside potential. If USOIL sustains its bearish momentum, a further drop toward the 60.00 support might occur. Conversely, a break above 70.00 could prompt a further pullback toward the 80.00 resistance and descending channel's upper bound. From a fundamental perspective, USOIL remains under pressure after OPEC downgraded its demand forecast for the second time in two months. The new projections indicate that global oil demand is expected to rise by 2 million barrels per day (bpd) in 2024, 80,000 bpd less than anticipated. For 2025, OPEC has reduced the forecast to 1.7 million bpd, a reduction of 40,000 bpd. These revisions are driven by weak consumption in China and the growing adoption of electric vehicles, dampening traditional fuel demand. Despite the bearish sentiment, losses were somewhat tempered by fears of Tropical Storm Francine, which threatens to disrupt oil and gas production and refinery operations along the Gulf Coast.
TVC:USOILShort
by lixing_gan
Dead OilWow Wow.... oil has been rallying downwards since the last week of August... dropping from 70-69 levels to 64.8 today! we are already at -12% since last Tuesday. As per the graph u can clearly see that we have dropped from 68.3 till 64.8 one way ticket, breaking every single support! 64.8 December 2021 low was hit today which makes it promising for bulls.... we have reached 64.2-64.8 a very strong area that oil would need to hold for some upward move. I would suggest staying on the sidelines until Supp/Resist is reached.... Please remember "the trend is ur friend!". Hint: below are two scenarios I am expecting to take place.... I would go for the scenario where oil drops.. tests support and bounces again! (GREEN ARROW) Trade safe and green peeps! Amen.
CAPITALCOM:OIL_CRUDE
by T_Shelby_01
Oil Steady on U.S. Crude Decline and Possible OPEC+ Supply Hike Oil Prices Edge Higher on U.S. Crude Stock Decline and Potential OPEC+ Supply Hike Delay Oil prices firmed on Thursday, recovering slightly from multi-month lows amid speculation of a potential delay in OPEC+ output increases and a decline in U.S. crude inventories. However, lingering demand concerns continued to limit the gains. Technical Outlook: The bearish trend is likely to persist, targeting 65.85 as long as the price remains below 69.78. A break above 69.78 could pave the way for a move towards 71.78 and 72.72. Key Levels: Pivot Point: 69.78 Support Levels: 67.75, 65.85 Resistance Levels: 71.78, 72.72 Expected Trading Range: 69.78 - 65.85 Trend: Bearish while the price remains under 69.78.
TVC:USOILShort
by SroshMayi
1
Oil in Free Fall Oil prices broke below key support last week and has now cleared the 2023 consolidation pattern. Broader technical outlook remains weighted to the downside while within this formation. Initial support hurdles here at the 2020 high at 65.62 and the 2023 swing low at 63.62 - both levels of interest for possible price inflection. Initial resistance now back at the 2023 low-day close at 68.57 backed by 72.14/93. Bearish invalidation now lowered to the objective monthly open at 72.93. Michael Boutros
TVC:USOIL
by FOREXcom
USOIL / UNDER UPWARD PRESSURE - 4HUSOIL / 4H TIME FRAME HELLO TRADERS USOIL is currently trading above the turning level of 67.09 and remains above the support trendline, indicating upward momentum. There are two potential scenarios: The First Scenario , USOIL's trading above 67.09 and staying above the support trendline signals strong buying interest, which suggests upward pressure. The target of 69.98 is a logical resistance level, followed by 71.59, which marks the next significant zone. Stabilization above 71.59 and 72.20 would confirm the strength of the uptrend, as breaking these levels would show that demand is outpacing supply, leading to further price gains. The Second Scenario , If USOIL fails to maintain the 67.09 level and closes below it on a 1-hour or 4-hour chart, it indicates bearish momentum. This would increase the likelihood of a decline toward 65.35 and 63.67, the next significant support levels. A break below 65.35 could trigger a stronger downtrend as it would suggest sellers are gaining control, particularly if the price falls below the descending channel, reinforcing the bearish sentiment. KEY LEVELS : Turning Level : 67.09. Resistance Levels : 69.98 , 71.59. Support Levels : 65.35 , 63.67.
TVC:USOILLong
by ArinaKarayi
"USOIL is going downward"The weakening labor market has reduced risk appetite in the markets, triggering a drop in crude oil prices toward the 67.50 level. Additionally, OPEC+'s crude oil production in August decreased by 300,000 barrels due to declines in Libya and Kazakhstan. However, ongoing supply concerns continue to pressure the commodity. Technically, if the 67.50 support level is broken, further declines toward 65.55 and 63.55 are possible. On the upside, if the 70.0 resistance is surpassed, buying momentum could accelerate toward the 72.60 and 74.50 resistance levels.
TVC:USOIL
by primequotes