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

USOIL Will Move Lower! Short! Here is our detailed technical review for USOIL. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 69.00. Considering the today's price action, probabilities will be high to see a movement to 65.47. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILShort
by SignalProvider
1
Crude oil - selling pressure again? Crude prices were firmer in early trade this morning, making back a proportion of yesterday’s sharp losses. The jump came after the US said that it plans to purchase crude oil to replenish its Strategic Petroleum Reserve. But the gains so far fall well short of what’s needed to take crude back to Friday’s close which saw front-month WTI trading close to $72 per barrel. Oil gapped lower as it reopened on Sunday night as details emerged of Israel’s retaliation for Iran’s missile bombardment earlier this month. Israel’s attack focused on military targets, including Iranian air defences, as well as missile and drone production and launch facilities. There was widespread relief that Israel chose not to attack Iran’s oil and nuclear infrastructure, and this in turn could give Iran a way out from taking tit-for-tat measures with all the escalation risk such a move would have. So, with oil supply from the region still unaffected, and global demand growth forecast to slow further, it looks as if the path of least resistance is down, at least in the medium term. Front-month WTI could be in the process of completing a near-text book head and shoulders pattern, particularly if prices were to retest the September lows around $65.
TRADENATION:WTI
by TradeNation
MY TV COMPETITION WTICOUSD LONG IDEA 01/11/2024Direction: Long SL: 66.862 Indicators: 1. MA (20,50,100,200) 2. Trendline - Algo 3. Support and Resistance 4. Fib Level 5. I also use MT5 - Tradingcentral tools Technical: 1. MA 20 Yellow is below the MA 100 and 200 (Purple and Red) but looking for it to reverse and go up and above the 50,100, and 200. 2. Green Trendline was broken recently. 3. Price bounced off from a support zone. 4. FIB level at 0.382. 5. Tradingcentral tool signaling Rise on Time frames 15m,1h,and 4h but it is bearish and signaling DECLINE on daily time frame at the moment. Fundamental and economic: 1. Geopolitical tension is adding some volatility to OIL prices. 2. I use Edgefinder tool which shows me a score of -3 "bearish" on USOIL but I think this trade idea is for short term and more of a "I predict that this might go to xyz based on the technical and fundamental insights". 3. We are in Q4 and usually there is alot of volatility mostly bearish but I'm going against it since we have US elections coming up.
OANDA:WTICOUSDLong
by stingotho
Oil ShortLooking to short Oil. After the large gap from weekend news regarding the strikes on Iran being more about retaliation than targeting the manufacturing supplies there is some downside potential for Oil. Currently trading below the gap, I am looking to trade Oil lower before buying it back up. Buy's right now do not make sense for the strategy. Confluences for the short: -38% fibo -Key Level -Trendline break and retest Entry is now Stop loss is set around 69.64, any higher and the idea is inactive as Oil should begin to push higher after breaking the nearest resistance. Targeting the next support and resistance at the lows created in September. *Remember this is not financial advice I post on here more to give an idea of trading and how I look at the market. Never the less, trade safe and catch you later traders ▲
ICMARKETS:XTIUSDShort
by FalkenFx
WTI - How will oil react to the elections?!In the 4H timeframe, oil is below the EMA200 and EMA50 and is moving in its descending channel. In case of rising due to increasing tensions, we can see the ceiling of the channel and sell in that range with appropriate risk reward. If the downward trend continues and the support range is broken, you can buy oil at the bottom of the downward channel. Under President Joe Biden, U.S. oil and gas production has reached new records, and the outcome of the U.S. election is unlikely to significantly impact commodities like energy in the short term. Analysts at Capital Economics believe that the election result will have minimal influence on most commodity prices over the next few months. However, differences in candidates’ views on vehicle greenhouse gas emissions, liquefied natural gas (LNG) exports, and foreign policy toward Iran could notably impact oil and gas prices over the next five years. The CEO of Goldman Sachs stated that the U.S. economy is very resilient, expressing concerns over global inflation, spending, and the U.S. budget deficit. He advised focusing on the long-term interest rates in the U.S. Solomon emphasized the importance of U.S. long-term interest rates and mentioned that the Federal Reserve will base its 2025 decisions on economic data. He also noted that geopolitical impacts on Goldman Sachs’ business are minimal but voiced concerns about geopolitical tensions in the Middle East. Yesterday, Saudi Arabia’s energy minister announced that the country remains committed to maintaining a production capacity of 12.3 million barrels of crude oil per day. In Q3, British Petroleum (BP) reported a net profit of $2.3 billion, exceeding analysts’ expectations. This compares to $2.8 billion in Q2 and $3.3 billion in Q3 2023. BP shares have declined by over 14% since the start of the year. BP is also targeting new investments in the Middle East and the Gulf of Mexico to boost oil and gas production. A BP spokesperson stated that the company will continue as a simpler, more focused, and higher-value entity. Other oil companies like Shell and Total are also preparing to release their quarterly reports shortly.
TVC:USOILShort
by Ali_PSND
Oil analysis for the week.“Oil - USOIL” At the last high reached by oil prices at 78.40 dollars per barrel, a 61.8% upward correction occurred according to the Fibonacci sequence, which is more than enough to start a downward impulse and was already by nearly a thousand pips, and the movement continued after that in a wobbly manner until a Trendline or upper wedge was formed for the descending corrective channel, so we notice in the picture the presence of the level in red, which was the closing of last week, and thus there was a bullish price gap at the opening. Thus, there was an upward gap at the opening. Now the price is at 71.70 We expect the upward movement to touch the green-colored sub-trendline area and expect a simple tail above the target of 74.21 It is also possible to continue it to the fictitious line level at about 74.75. From there, a corrective move down. This and God knows best.
TVC:USOILLong
by MohAmjad
Crude Oil Technical AnalysisOil is trading bullishly above the 100-period simple moving average (SMA) and created a Fair Value Gap (FVG) on October 31. Technical indicators suggest that while the primary trend is bullish, oil is overpriced in the short term. From a technical perspective, crude oil has the potential to fill the gap around $70.00 before the uptrend resumes. The FVG area provides a solid entry point for bullish positions. The trend outlook remains bullish as long as the $69.70 support holds. That said, the next bullish target will likely be the $72.25 resistance level.
TVC:USOILLong
by FxNews-me
Crude Oil Price Review: Bullish Correction AheadThe recent bearish gap in crude oil prices could be setting up for a bullish correction, as technical indicators highlight key target areas for a rebound, signaling a potential upward trend. The Commitment of Traders (COT) report supports this outlook if large institutional players are increasing long positions, adding to the bullish momentum. Historical US election trends also play a role, as policy shifts related to energy can drive expectations of higher demand, which often leads to upward price adjustments. Meanwhile, upcoming economic data, including the US PCE index, jobs report, and manufacturing PMI, will influence this trajectory, with higher-than-expected inflation possibly leading to rate hikes, which could temper growth and suppress oil demand. However, should these indicators point to economic resilience, it would bolster the case for a rally, feeding into a narrative where crude oil prices might see a short-term climb in anticipation of both policy impacts and resilient demand.
TVC:USOIL
by Exness_Official
USOil WTI Technical Analysis and Trade Idea👀👉 US Oil has encountered recent selling pressure, which may present an opportunity for short-term traders. In this video, we’ll analyze the price action, evaluate the current trend and market structure, and explore potential sell setups if the price action unfolds as outlined. Risk Disclaimer: Forex trading involves significant risks, and market conditions can change unexpectedly. This content is for educational purposes only and is not financial advice. 📉✅
TVC:USOILShort
by tradingwithanthony
Crude turns upCrude prices shot higher overnight following news that OPEC+ has delayed an expected production increase. Both Brent and WTI were up around 3% on the news, even though the announced delay is only for a month. This has taken front-move crude back up to an area of resistance around $71.50-72.00. If it can push above this region convincingly, and then hold it on any pullback, then this starts to improve the immediate outlook as far as the bulls are concerned. The daily MACD has started to turn up a touch, and while it remains in negative territory, this suggests an uptick in upside momentum. There has also been some relief that Iran did not take the opportunity over the weekend to launch an attack on Israel in retaliation for the Israeli attack the week before. Prices had jumped on Thursday evening after Israeli intelligence reported that Iran was planning to attack Isreal from its bases within Iraq.
TRADENATION:WTI
by TradeNation
Risk-on Risk-off Report, October 29, 2024October 29, 2024. Market sentiment reflects a cautious risk-off environment. Factors contributing to this include ongoing geopolitical tensions, such as the Israel-Gaza conflict and Russia-Ukraine situation, which increase market volatility and drive investors toward safe-haven assets. Currency Movements and Bond Yields: Safe-Haven Currencies: The Japanese yen (JPY) and Swiss franc (CHF) have strengthened, typical in risk-off periods. The U.S. dollar (USD) remains strong, especially against risk-oriented currencies like the Australian (AUD) and New Zealand dollars (NZD), which have weakened as investors avoid riskier markets. High-Yielding Currencies : Commodity currencies like the CAD, AUD, and NZD are currently facing selling pressure, reflecting an overall aversion to risk in forex trading. This is evident in the downtrend for AUD/USD, with further bearish sentiment expected as investors shift focus away from risk assets. Bond Yields : Short-term bond yields in the U.S., Canada, and other developed economies remain high but are starting to plateau due to concerns about long-term economic stability and potential adjustments in monetary policies. Japan’s Bank of Japan has hinted at possible rate normalization, which could see gradual rate increases ahead. Commodities: Gold: Demand for gold, a traditional safe haven, has increased, buoyed by both its safe-haven appeal and an anticipated easing in U.S. rates. The commodity’s upward trend is expected to continue, especially if risk aversion remains high. Crude Oil and Natural Gas : Crude oil prices have been volatile but are somewhat supported by constrained OPEC+ production. However, natural gas prices face downward pressure from a supply overhang in the U.S. and subdued global demand. Stock Indices: Global stock indices, including those in the U.S. (S&P 500), Europe (DAX), and Japan (Nikkei), are under pressure. The U.S. indices, in particular, are vulnerable to declining earnings outlooks and inflation concerns, making them less attractive amidst risk-off sentiment. Japanese markets reflect a similar pattern, affected by both local and global risk factors. Crypto Market: The total crypto market cap is facing headwinds, with limited upward momentum in Bitcoin and other leading cryptos, as investors remain cautious about volatile assets during risk-off periods. Meme coins, known for their speculative nature, have seen reduced interest. Influential News and Events: The Forex Factory economic calendar lists significant upcoming central bank announcements and economic data releases, with the Federal Reserve's stance on rate cuts closely watched. Bank of Japan board members have also hinted at a gradual approach to rate normalization, reflecting heightened caution in economic adjustments. In addition, global geopolitical issues, especially in the Middle East, are adding uncertainty, bolstering demand for safe-haven assets like USD, CHF, and JPY. Disclaimer: This is not financial advice. The information provided is for general informational purposes only and should not be interpreted as financial or investment advice. Always consult with a professional financial advisor before making any investment decisions.
OANDA:WTICOUSD
by AfreeBit