Get started
US Light CrudeUS Light CrudeUS Light Crude

US Light Crude

No trades
See on Supercharts
Overview News
Ideas
Discussions Seasonals

WTI trade ideas

WTI OIL giving a buy signal under this condition.Last week we saw how WTI Oil (USOIL) turned bearish long-term following the 1W Death Cross and the breaking below the 16-month Higher Lows trend-line. Even on the 1D time-frame we got a Death Cross formation with the price seemingly reaching the bottom (Lower Lows trend-line) of a newly formed Channel Down. As a result we may have a short-term buy signal but only if today's 1D candle closes in green, which together with yesterday will make it a series of green days. As you can see on the chart, every time the 1D RSI posted a Bullish Divergence (rising while Oil was falling), it posted successive 1D green candles to confirm a rebound. So the key now is to form again a streak (even 2) of green days. If not, the buy potential is invalidated. If successful though, we will target 78.00 (top of the Channel Down, +16.55% rise as the previous Bullish Leg). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
Durian prices fall on concerns over Tropical Storm FrancineUSOIL: Oil prices in today's session have appeared a reversal candlestick pattern on the H4 frame. The $68 area is also a good support area for Oil prices, so you can consider buying USOIL around this price area. The short-term target can be expected to return to the $71 area. Oil charges persisted to fall on Wednesday on worries that a typhoon anticipated to hit Louisiana on Wednesday will disrupt manufacturing and refining alongside the U.S. Gulf Coast. In the United States, oil and fueloline manufacturers alongside the Gulf Coast have all started evacuating team of workers and proscribing drilling operations in education for Tropical Storm Francine because it movements throughout the Gulf of Mexico. The U.S. National Hurricane Center forecasts Francine will give a boost to right into a typhoon on Tuesday earlier than hitting the Louisiana coast. The Gulf Coast bills for approximately 50% of the country`s refining capacity, in step with the U.S. Energy Information Administration (EIA). "Prices are seeing a moderate recovery... at the caution of a typhoon that would threaten the U.S. Gulf Coast, however the broader dialogue stays centered on call for and what OPEC+ can do," stated John Evans, an analyst at PVM. OPEC+ consists of the Organization of the Petroleum Exporting Countries (OPEC) and allies together with Russia. In OPEC member Libya, the country's National Oil Corporation has declared pressure majeure on a few crude oil cargoes being loaded from the port of Es Sider, as oil output is confined via way of means of a political dispute over the significant financial institution and oil revenues. The OPEC+ organization of oil manufacturers has agreed to put off a deliberate 180,000 bpd manufacturing boom in October for 2 months in reaction to the pointy drop in crude charges. Analysts stated investor optimism approximately a gentle touchdown state of affairs for americaA economy, wherein inflation is contained with out a recession or sharp upward push in unemployment, additionally helped aid crude charges. The US authorities is scheduled to launch a key inflation document later this week. "A recession withinside the US isn't inevitable, however the Federal Reserve wishes to begin reducing hobby costs speedy and aggressively to keep away from it," stated James Knightley, leader worldwide economist at ING.
TVC:USOILShort
by TheLeader_WOLF
OIL for Day Traders | Potential Long | Reversal PetternDear Fellow Traders, In our ongoing analysis of oil market dynamics, recent charts provide compelling evidence that oil has established a solid base for the current trading week. Here are some key observations and strategies to consider: Technical Analysis Insights: Double Bottom Pattern: The chart exhibits a clear double bottom pattern, signaling potential bullish momentum. This pattern often suggests a strong level of support and a possible reversal from recent downtrends. Testing of Support Levels: We are currently at a critical juncture where oil prices are testing support levels. This could lead to increased volatility in the near term. Bullish Outlook: Despite the potential volatility, the structural patterns and market dynamics suggest that the probability favors bullish outcomes in the coming sessions. Trading Strategy for Day Traders: Entry Point: Look to initiate a long position around the $68 level. This entry point is strategically set just above the recent support level, aiming to capitalize on the bullish momentum predicted by the double bottom pattern. Take Profit Target: Set an upside target at $71. This target is based on resistance levels observed in previous trading sessions and the expected market movement. Stop Loss Consideration: If the market trades below $67.55, it would indicate a shift to a bearish bias. Therefore, setting a stop loss just below this level, at around $67.50, would help mitigate risk in case of a downward trend reversal. Market Sentiment: The current market setup, combined with the double bottom formation, suggests a favorable environment for bullish trades. However, it is crucial to remain vigilant and responsive to any signs of unexpected market movements that contradict our current analysis. Note: As always, ensure that your trading decisions align with your risk tolerance and investment strategy. Market conditions are inherently unpredictable, and it is vital to manage risks prudently. Happy trading, and let's keep an eye on how these patterns evolve to adjust our strategies accordingly!
CAPITALCOM:OIL_CRUDELong
by imrann_syed
OIL Possible short term BUYThe market is currently testing the current weekly major structure. Based on Daily TF, there is BOS to the downside, 4HR TF is showing a possible reversal chart pattern. We could see buyers coming in strong should the current level hold. Disclaimer: Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account. High-Risk Warning Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
FX:USOILLong
by WiLLProsperForex
2
STRONG BULLISH RALLY IN OIL | LONG OILCurrent Market Analysis: Oil has recently reached an 18-month low, now priced at $66.8 per barrel. Historically, oil remains a highly valuable market asset. Given the consistent increase in global energy demand over time and the current pricing, there's a strong indication that oil may have reached its lowest point for the foreseeable future. Investment Thesis: Short-Term Outlook: With the onset of winter, energy demands are expected to rise across several continents, potentially driving up oil prices. From a technical analysis standpoint, the market appears oversold, suggesting an impending price correction. Long-Term Potential: Over the longer term, structural increases in global energy consumption could push oil prices to surpass the $100 mark. Investment Strategy: Entry Point: Consider entering a long position at around $68 per barrel. Stop Loss: Set a stop loss at $66.5 to limit potential downside. Take Profit Levels: Aim for progressive take profit targets at $74, $80, $90, $100, and $110, aligning with key resistance levels observed historically. Risk Management: This investment involves substantial risk. It's crucial to conduct your own research or consult with a financial advisor. The outlined strategy does not guarantee profit and I assume no responsibility for any losses incurred from following this strategy. Note for Traders: This strategy is designed for investors looking to hold positions over an extended period. Those practicing scalping or looking for short-term gains may find the volatility and entry points less favorable.
CAPITALCOM:OIL_CRUDELong
by imrann_syed
2
Crude Oil Down to SPR Refill Level SupportThe politically motivated push to depress oil prices and drain the Strategic Petroleum Reserve created a PRICE LEVEL in the crude oil market which has proven twice to have strong overhead resistance. The FLIP-SIDE of that SPR DRAIN LEVEL is that SPR-REFILL LEVEL and we are down low enough where it makes sense to strategically refill our lost petroleum reserves. I strongly advise putting KEY NEWS levels on your charts for future reference so you can use these levels to your advantage. How much risk do you take on this entry long here? A good way to assess risk is to use 3 average true ranges (over 11-days or more) to make sure you have a wide-enough stop in any market. If your stop gets hit, you can re-assess and decide to re-enter. Tim September 9, 2024 10:25AM EST
FX:USOILLong
by timwest
Crude slide continuesCrude oil recorded heavy falls last week, posting its biggest weekly drop in close to a year. WTI lost 8% while Brent ended 10% lower. Front-month WTI easily took out its December low, as it dropped under $64 to record its lowest level since early May 2023. It would be easy to put the blame on Friday’s weaker-than-expected Non-Farm Payroll report. But this seems unlikely as the major part of Friday’s decline in oil occurred between 15:00 and 17:00 BST. Interestingly, this period covers a time when risk assets rallied strongly following a relatively upbeat and dovish speech from the FOMC’s Christopher Waller, who supported a rate cut at next week’s Fed meeting. Instead, Friday’s steep sell-off in crude was just a continuation of the downward trend driven by overriding fundamentals. Quite simply, supply remains plentiful while demand looks likely to moderate thanks to China’s weak economy and uncertainty over the outlook for the US. The situation is unlikely to change, even after the Fed cuts rates by 25 basis points next week, as expected.
TRADENATIONSB:WTI
by muggins
USOIL / TRADING BELOW SUPPLY ZONE - 4HUSOIL / 4H TIME FRAME HELLO TRADERS Prices are currently on a downward trajectory, trading below the identified supply zone at approximately 70.04 and 69.21. The market is now approaching the support level at 67.27. There is a possibility of a brief retest of the supply zone before the price continues its decline towards the next support levels, which are around 66.87 and 65.58. Conversely, if the price manages to break above the resistance level at 70.04, this would suggest a potential upward movement. In this case, the next target would be the resistance level at 71.54. For a confirmed upward trend, the price would need to break and maintain stability above 71.54. Achieving this could lead to further gains, with the next resistance target being around 74.03. KEY LEVELS : Supply Zone: 70.04 , 69.21 . Resistance Levels : 71.54 , 74.03 . Support Levels : 67.27 , 66.87, 65.58 .
TVC:USOILShort
by ArinaKarayi
WTI continues to be under pressure, notable data this weekTVC:USOIL remains under pressure, after data showed weaker-than-expected US employment data in August, which was mixed with support from OPEC+ oil producers delaying supply increases. US government data showed job growth in August was lower than expected, but the unemployment rate fell to 4.2%, suggesting the Federal Reserve may not need to cut interest rates very significant this month. The U.S. Bureau of Labor Statistics said nonfarm payroll employment increased by 142,000 in August, less than expected to increase by 160,000. (July's increase was revised down to 89,000, the smallest increase since December 2020). As for the geopolitical situation, as the Israeli army battles Hamas-led rebels in the Palestinian Gaza Strip, medics said on Saturday that Israel's military assault on Gaza has killed at least at least 61 people in 48 hours. The warring parties continue to blame each other for the failure of mediators including Qatar, Egypt and the US to broker a ceasefire. The United States is preparing to present a new proposal, but the prospects for a breakthrough appear slim as the differences between the two sides remain wide. In general, there are still no notable new points regarding the geopolitical situation, so it will have less impact on the market than before. This week will release OPEC's monthly crude oil market report, EIA's monthly short-term energy outlook report and IEA's monthly crude oil market report, which are the focus of the US oil market. this week and the market will pay special attention to them. On the daily chart, TVC:USOIL still in a downtrend with technical conditions leaning towards the possibility of a price decrease. First, the long-term technical trend of WTI crude oil will be noticed by the price channel and the 21-day moving average (EMA21). Although WTI crude oil stopped falling after reaching the 1% trend-following Fibonacci extension that readers noticed in the previous issue, this is not a trending support so once WTI crude oil Breaking below the 66.96USD price point of the 1% Fibonacci will condition the price to continue falling. The next target level of WTI crude oil will be noticed at 64.55 – 63.66USD. As long as WTI crude oil remains in the price channel and below the EMA21, it still has a main bearish trend with notable technical levels listed below. Support: 66.96 – 64.55 – 63.66USD Resistance: 68.84 – 69.77USD
TVC:USOILShort
by Xayah_trading
Buy OpportunityInstrument: USOIL Position: Buy Entry: 68.30 1st Target: 71.65 2nd Target: 74.20 Stop Loss: 66.83 Rationale: USOIL is exhibiting signs of a bullish trend, supported by recent price action and fundamental factors. Targets: Our primary target stands at 71.65, representing a significant resistance level where we anticipate a price reaction. The secondary target is positioned at74.20, indicating further potential Upside momentum. Stop Loss: To manage risk effectively, a stop loss is placed at 66.83, just below the anticipated Support level. This ensures a controlled exit in case of unexpected market movements.
TVC:USOILLong
by GODOCM
1
WTI Oil H4 | Potential bearish reversalWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 70.30 which is a pullback resistance. Stop loss is at 72.56 which is a level that sits above the 50.0% Fibonacci retracement and a pullback resistance. Take profit is at 67.14 which is a swing-low support level. 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.
FX:USOILShort
by FXCM
USOILThis setup presents a favorable long opportunity on USOIL, with key levels identified for Entry, Take Profit, and Stop Loss. The current market structure suggests potential for upward momentum, supported by bullish conditions in the broader trend. This trade aims to capitalize on the expected price movement, with a well-defined risk management strategy in place. Keep an eye on market developments to ensure the trend continues to work in your favor. All critical levels are marked on the chart for clear guidance.
FX:USOILSPOTLong
by CryptoBullTrades
USOIL What Next? BUY! My dear friends, My technical analysis for USOIL is below: The market is trading on 68.08 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 70.57 Recommended Stop Loss - 66.61 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
TVC:USOILLong
by AnabelSignals
1