WTI giving the Green lights oil is doing something amazing looking forward for a bullish run and hope fundamentals play along too this week
USCRUDEOILCFD trade ideas
WTI crude oil trend is neutral, with more bearish conditionsTVC:USOIL continued to recover from a decrease of 1% in the previous trading day after the US announced that crude oil inventories increased much higher than expected. After falling back, it continued to rise as the US election approached causing commodities to revive inflation expectations and the possibility of a further recovery in oil prices.
The U.S. Energy Information Administration (EIA) said on Wednesday that crude oil inventories rose sharply, rising 5.5 million barrels to 426 million barrels in the week ended October 18, compared with market expectations. market for an increase of 270,000 barrels.
Current concerns about potential oil supply risks due to conflict in the Middle East have partly offset the impact on crude inventories.
On the daily chart, TVC:USOIL Trading is currently quite slow with price activity mainly around the EMA21 level.
Although WTI crude oil has recovered, the recovery is still temporarily limited by the resistance level of 72.39 USD and the 21-day moving average (EMA21). In case WTI crude oil price increases and breaks the level of 72.39 USD, it will tends to rise a little further to test the 0.382% Fibonacci retracement level.
The current recovery level of WTI crude oil is still not enough to create a bullish cycle as the Relative Strength Index is also approaching point 50, a position considered to be under pressure in terms of momentum.
Once WTI crude oil is sold below the 0.236% Fibonacci retracement level, the recovery cycle will end with the target level then around $68.19 in the short term, more so than $67.14.
During the day, the technical outlook for WTI crude oil is currently neutral, with more bearish conditions and notable levels listed below.
Support: 70.56 – 68.19USD
Resistance: 72.39 – 73.80USD
USOIL Potential UpsidesHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 70.80 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 70.80 support and resistance area.
Trade safe, Joe.
USOIL Ready for $75!WTI oil prices have climbed back to $71.60 per barrel, supported by geopolitical tensions in the Middle East, particularly due to the conflict between Israel and Hezbollah. The possibility of disruptions in oil supplies from the region fuels market uncertainty. However, the significant increase in US crude oil inventories, far exceeding expectations, is putting downward pressure on prices, indicating a potential oversupply. Additionally, the strengthening US dollar, which has reached its highest level since July, is reducing oil demand by making it more expensive for foreign buyers. These factors limit the potential for price increases, despite geopolitical concerns.
WTI on the Rise: Approaching 1Y Pivot PointHello,
BLACKBULL:WTI is on an upward trajectory, having established itself above the 1M, 1W, and 1D pivot points as it moves toward the 1Y pivot point. Despite this trend, most market participants are still anticipating further declines, which should become clearer soon!
TradeWithTheTrend3344
WTI CRUDE OIL: Keeps respecting the long term Support Zone.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 48.339, MACD = -0.320, ADX = 27.988) as it is recovering from last week's red candle that almost touched the S1 Zone. As long this holds, WTI will be bullish on the medium term at least, as on the long term the formation of the 1W Death Cross is bearish. The presence of the LH trendline doesn't allow much room for higher targets and since the previous rebound on the S1 Zone (December 11th 2023) came close to the 0.786 Fibonacci level, our target is in the vicinity of those (TP = 78.00).
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OIL Bounce off trendline support Despite geopolitical issues worldwide, such as the Ukraine war, Gaza, and BRICS, crude oil is still in a consolidation period; the price has bounced from the lower trendline support and is expected to retest the prior trendline resistance at 76.799.
WTI "US CRUDE OIL" Market Heist Plan on Bearish SideOla! My Dear Robbers / Money Makers & Losers, 🤑💰
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Entry : Can be taken Anywhere, What I suggest you to Place Sell Limit Orders in 15 mins Timeframe Recent / Nearest Swing High
Stop Loss 🛑: Recent Swing High using 2h timeframe
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USOILUSOIL.
Will USOIL get bids from buyers ?
As the price is at strong support level and bullish divergence indicating the buyers may attack this zone. If this happens and buyers start buying from here then the next target could be 78 followed by 82.
What you guys think of this idea?
Will us-oil rise up ?Hi there ! today we will talk about US-OIL trade . As you can see from this chart , oil market crashed due to the conditions in the middle east and after that it has made complex up down movement near about 70.300.
As you can see here that oil made fakeout to the downside and made its upward movement as a valid bullish breakout. So this 70.250 zone seems very important for us to join the bullish momentum .
So we can buy from here , our stop loss goes below 69.471 and our take profit target can be set at least 4 times profits which is 74.00. Trade carefully and stay with ligand .
Can USOIL Bake For Us A Fresh Higher High?Let me save you the stress of reading long notes that has little or nothing to do with the analysis. It's a simple one, in a bullish trend, as you can see the tight structures on the 1Hr timeframe that signifies the aforementioned, the last created demand zone tend to be a potential trend continuation constituent, although I'd like to see some liquidity being grabbed by the pullback(check 5min TF for a clear view of the trend line), cause it gives me a stronger confirmation that the zone where I have my entry is going to be a positive one. Liquidity (i.e Trend line).
Do you think USOIL is still bearish, or probably displaying a strong sell momentum? Feel free to share on the comment section 🤗
Possible short term, long trade opportunity in USOILHello together,
Oil broke out of a daily downtrend (white solid) and has gone into an ABC correction, market by the 4 hour downtrend line (blue dotted). Price broke also above this and got directly rejected from the 4 hour support & resistance zone (blue bar) to the downside. If price can make it again above this small retest I will enter a long position with a risk reward ratio of 1.5. Stop Loss below the lowest point of the ABC correction.
USOil analysis - 23 Oct 202470.7 acts as an important level today & if price stays above this level then we expect it to hit our target profit at 71.75.
If price breaks below 70.7 then it should hit 69.7.
Below is our recommendation;
Trade 1 (Risk 0.5% of your account size);
Buy USOil @ 71.00
Stop Loss @ 70.7
Take Profit @ 71.75
Trade 2 (Risk 1% of your account size);
Sell Stop USOil @ 70.7
Stop Loss @ 71
Take Profit @ 69.7
*Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
The Best Hedging Strategy For Oil | Creating A Trading SystemThis is how I trade all Markets for income.
You can protect capital in various ways, with various risk approaches.
I've found that on Markets like oil, this is far more profitable.
Market Analysis: WTI Crude Oil Eyes RecoveryMarket Analysis: WTI Crude Oil Eyes Recovery
Crude oil is recovering and might rise toward the $73.85 resistance zone.
Important Takeaways for Oil Price Analysis Today
- Crude oil is recovering losses and trading above the $70.50 support.
- There was a break above a connecting bearish trend line with resistance near $70.00 on the hourly chart of XTI/USD at FXOpen.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price found support near the $68.15 zone against the US Dollar. The price formed a base and started a recovery wave above $70.00 and the 50-hour simple moving average.
The bulls were able to push the price toward the 50% Fib retracement level of the downward move from the $75.61 swing high to the $68.13 swing low. Besides, there was a break above a connecting bearish trend line with resistance near $70.00.
The hourly RSI is near the 70 level, but the price is struggling near $71.85. The next resistance is near the 61.8% Fib retracement level of the downward move from the $75.61 swing high to the $68.13 swing low at $72.75.
A clear move above the $72.75 could send the price toward the $73.85 resistance. Any more gains might send the price toward the $75.60 level. Conversely, the price might start a fresh decline from the $71.85 resistance.
Immediate support sits near the $70.50 level. The next major support on the WTI crude oil chart is $68.15. If there is a downside break, the price might decline toward $66.00. Any more losses may perhaps open the doors for a move toward the $65.00 support zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
crude oil long resultscrude oil
long
targets 1 2 3 4 done
all targets done
336% lev x100
67% lev x 20
congratulations followers
you have to learn, tireless. You have to make sacrifices to be a good trader: dedicate time, invest money, win some, lose some, invest money to train, you must never be discouraged.You must learn to one day be a winner and financially free.
you will love trading with me
WTI Oil H4 | Rising into pullback resistanceWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 72.90 which is a pullback resistance.
Stop loss is at 74.92 which is a level that sits above the 78.6% Fibonacci retracement level and an overlap resistance.
Take profit is at 70.63 which is a pullback support.
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Bearish reversal off overlap resistance?USO/USD is rising towards the resistance level which is an overlap resistance that is slightly below the 61.8% Fibonacci retracement and could reverse3 from this level to our take profit.
Entry: 73.07
Why we like it:
There is an overlap resistance level that is slightly below the 61.8% Fibonacci retracement.
Stop loss: 74.94
Why we like it:
There is a pullback resistance level that aligns with the 78.6% Fibonacci retracement.
Take profit: 71.15
Why we like it:
There is a pullback support level that aligns with the 38.2% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Falling towards 38.2% Fibonacci support?WTI oil (XTI/USD) is falling towards the pivot which is a pullback support and could bounce to the 61.8% Fibonacci resistance>
Pivot: 71.28
1st Support: 69.93
1st Resistance: 73.77
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USOIL: Multi-Timeframe Analysis | Strong Setup FormingI've been looking at various markets recently, and USOIL really stood out to me. I want to share how I analyze markets using a mechanical top-down approach across all timeframes to form my trading bias.
Top-Down Analysis:
This method is crucial in my trading strategy. It helps me stay objective by focusing on what the market is indicating regarding trends and key levels, rather than letting my personal opinions cloud my judgment.
By adopting a systematic approach, I've been able to reduce doubts and fears in my trading decisions.
Now, let's dive into the top-down analysis process.
12M:
2W:
6H:
CRUDE OIL ( WTI )Why did I take this trade. Price respected our trendline channel for sometime on high TFs. However, on the 30 M, we saw a bullish engulfing that changed the manner of the long term trend. Executed trade on 1H and currently in profit
Crude oil long resultsCrude oil
long
targets 1 2 3 done
295% levx 100
60% levx 20
Congratulations followers
you will love trading with me
you have to learn, tireless. You have to make sacrifices to be a good trader: dedicate time, invest money, win some, lose some, invest money to train, you must never be discouraged.You must learn to one day be a winner and financially free.
you will love trading with me
WTI rebounds to test key resistanceCrude oil prices have rebounded by over 3% so far this week, though risks remain tilted towards the downside following a 9% drop the previous week. WTI crude has now reclaimed the crucial $70.00 level, but still below the broken support $71.50 to $72.50 area, which it was testing at the time of writing.
Middle East tensions have slightly stabilized as Israel has so far refrained from attacking Iran and has said it will not target its nuclear facilities. However, the situation remains volatile due to Israel’s ongoing operations in Lebanon, which has reignited concerns about disrupted oil supply.
Meanwhile, China's additional stimulus measures, including lending rate cuts, aimed to revive growth, has also helped to support oil prices, but not significantly so. The market is also cautious about a possible Trump victory in the US election, as his policy of boosting oil production could lead to oversupply and further price declines.
From a technical standpoint, WTI remains bearish for now. Significant resistance is seen nears $71.50 to $72.50, while the first line of support now comes in near $70.00 and further support level is seen around $68.00. A potential break below $68.00 could trigger a sharp move down to $65.00, which may not be out of the question given concerns over rising global supply and weakening economic conditions.
By Fawad Razaqzada
