USCRUDEOILCFD trade ideas
Oil Prices in Stagnation: A Moment to Await the ReboundSince the recent sharp decline, the movement of oil prices has been notably flat compared to gold, leaving many of us feeling quite exasperated. Is it really true that oil prices won’t rebound after such a drop? Are you, like me, growing increasingly impatient?
I believe we should exercise a bit more patience; today, oil prices should be able to rise above $72. I always remember the saying: “The longer the sideways movement, the greater the potential up or down movement.”
This means that the duration of a sideways consolidation will determine the magnitude of the subsequent rise or fall.
Let’s continue to be patient and anticipate the moment of oil price rebound.
WTI Rebounds but Bearish Outlook PersistsHello,
BLACKBULL:WTI has gained some upward momentum after rebounding off the 1M pivot point (PP), but the overall outlook remains bearish. It's important to take calculated risks. Currently, the 1M and 1D pivot points have acted as support, and if the 1M PP continues to hold, we could see further upside potential.
TradeWithTheTrend3344
67 incoming Daily and weekly TF down move incoming..Stay short..Red dag Friday.. Good luck and safe trade
OIL PRICES IN USA PRIMED FOR BIG MOVE IN NOVEMBERUS Oil Prices at Key Support, Aligning with Trump's 4-Year Resistance – Bullish Indicators for November
US oil prices are currently sitting at a pivotal support level, which also served as the resistance level throughout the entire 4-year Trump administration. Historically, this price zone is significant, and key technical indicators are aligning for a potentially strong move in November.
Notably, oil prices have typically rallied when a Democrat is elected president, with the main exceptions being Clinton's second term in 1996 (which saw a bearish response) and the Bush administration (which fueled a bullish trend). If the status quo remains, with Harris or any Democratic leadership continuing, this setup suggests a strong buy opportunity for a bullish bounce. Might as well pay for the gas hikes right off the jump.
ADX has bottomed, signaling a potential trend reversal.
RSI is pivoting within the Bull Power Zone, showing growing momentum.
If no major political or economic shifts occur, this support level is expected to hold, triggering a bullish move. The only scenario where prices may break below support would be a re-election of Donald Trump.
USOIL: BUY
Oil prices have experienced a significant decline due to recent news, with the market oscillating within established support zones. Today's API data is bullish; however, it has not resulted in a notable price increase, nor has it breached the support levels.
As the EIA data release approaches, the likelihood of a positive impact remains high, suggesting a potential for a substantial upward movement. Our trading outlook leans towards buying, positioning for an anticipated rally in oil prices
Crude drifts lowerOil was drifting lower in early trade this morning, taking front-month WTI back down below $70 per barrel. It has lost 10% since it briefly topped $78 around ten days ago, and while the daily MACD has turned sharply lower as well, this move has only taken it back to ‘neutral’ levels rather than the heavily oversold area from this time last month. The concern that Israel would target Iran’s energy infrastructure in retaliation for the latter’s recent missile attack has been completely priced out. This followed Israeli Prime Minister Netanyahu’s statement that the country would only target Iranian military targets in response. This has led to the resumption of selling pressure as traders react to the overarching dynamic driving energy prices. Supply remains plentiful, while agencies such as OPEC and the US Energy Information Administration (EIA) calculate that the market should expect falling demand growth from both China and the US in the year ahead. Added to this is the ongoing switch to natural gas, as well as increased investment in renewables.
#Oil bullish wave 5 to come
Hi folks, hope you're doing well.
Looking at oil, we can identify a clear 3-wave bullish move. In my view, the price is currently forming a wave C of wave 4.
Following this, we can anticipate the start of wave 5. Historically, in commodities, wave 5 is often the extended wave, which means, if we're correct, this setup offers a favorable risk-to-reward ratio.
According to Elliott Wave's rule of alternation, since wave 2 was sharp and quick, we can expect wave 4 to be more shallow and prolonged in duration.
It seems that wave 4 is developing into a zigzag pattern, and if that's the case, we might see the price dip slightly below the bottom of wave A.
USOIL BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
USOIL pair is in the uptrend because previous week’s candle is green, while the price is obviously falling on the 8H timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 76.44 because the pair is oversold due to its proximity to the lower BB band and a bullish correction is likely.
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Potential bullish rise?WTI oil (XTI/USD) has reacted off the pivot which has been identified as an overlap support and could rise to the 1st resistance which is a pullback resistance.
Pivot: 69.90
1st Support: 68.16
1st Resistance: 72.36
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USOIL: Bullish Potential USOIL has broken through its descending trendline on the daily timeframe and is now poised for a retest at a critical support level. From a technical standpoint, the setup looks bullish, suggesting a potential upside. On the fundamental side, any escalation in the Middle East could trigger a significant bull run, adding fuel to the rally. As always, effective risk management is key in navigating these volatile markets.
WTI CRUDE OIL: Price is bottoming. Excellent long trade.WTI Crude Oil is borderline neutral on its 1D technical outlook (RSI = 45.282, MACD = 0.240, ADX = 34.094) as it is consolidating just over the HL trendline and under the 4H MA200. This consolidation so close to a Support is technically a bottoming process. January-February 2023 exhibited similar behavior that caused the price to rebound towards the R1 level again. The patterns are so far very similar, so we expect the price action to complete the sequence by rising again towards the R1. Aim just under it (TP = 76.50) to lower the risk.
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USOIL (WTI) HELLO TRADERS
As i can see usoil has successfully tested a strong weekly and daily based support chart is crystal clear for a technical analysis our risk reward is great on this setup friends its just a trade idea share ur thoughts with us and do a proper search befor taking any trade
Stay Tuned
WTI USOUSD Short day tradingBearish Arguments
VANTAGE:USOUSD
Previous Month Low (PML) is holding strong.
Previous Week Low (PWL) remains unbroken.
Previous Day Low (PDL) is respected.
Daily Bearish Fair Value Gap (FVG) is acting as resistance.
Monthly Bearish FVG is also being respected.
4H Bearish FVG is holding.
4H Swing High is capping price action.
4H Swing Low is holding as a short-term support, but may break down soon.
Trade Management
Risk-Reward Ratio (RR): 2
Stop-Loss (SL): Placed near the 4H FVG to protect against upward moves.
Take-Profit (TP): Targeting the swing low (SSL). Although price could extend lower, securing profits in this zone ensures gains in case of a rebound.
Risk: 3%
WTI OILBased off chart analysis ,oil is forming a nice pattern easy to read and digest
in this scenario I am waiting for it to either bounce on the purple line upwards side and depending on how the Middle east news pans out and the US oil inventory updates i will buy or sell off that with targets indicated in the chart
Its a matter of patience
don't miss fundamentals when dealing with OIL
W-Formation in USOIL Signals a Strong Bullish Opportunity
USOIL has formed a classic W-bottom pattern, with the only remaining resistance around the MA30. There is a high probability of a breakout, making this an ideal time to go long.
If you have been holding a long position and were concerned about it, congratulations—you're likely to see a favorable outcome soon. Moreover, if your available capital allows, this is a strong opportunity to add to your position and maximize potential gains.
WTI on course towards 30$I assume that the WTI bulls will have nothing to laugh about for the foreseeable future and that the price will more than halve before anything changes.
OIL Weakness (RECESSION)Oil is showing significant weakness, for the past 8 years price was trading within this channel (the blue lines) it broke down during covid and up during the russian invasion, but now with all the significant events and geopolitical instability, price broke down and couldn't recapture it, as it acted as resistance, if oil fails and close a weekly candle below 65$, expect 50$ then 30$ then 17$ which means the worse.
We're most likely in a recession
WTI Long Bullish momentumWTI Long
Broke out of descending channel. Retrace into channel top/FVG.
Ready to continue price upwards to fill volume gap on the 4H chart.
WTI OIL Strong buy signal on the 0.618 FibWTI Oil (USOIL) gave us the best of sell signals on our last analysis (October 08, see chart below) as the 1D MA200 (orange trend-line) initiated a strong decline that hit our 72.50 Target:
The decline broke below the 1D MA50 (blue trend-line) and even reached yesterday the 0.618 Fibonacci retracement level, which on the similar Channel Up fractal of early 2024 was the level where the Higher Low was priced, bottomed and started the next Bullish Leg.
The presence of the Lower Highs trend-line since the September 28 2023 High however, doesn't give us much upside room for a great rally, so we will turn bullish again but only for the short-term, targeting 78.50.
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