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USOIL CHART ANALYSIS - NOV 18📊 USOIL CHART ANALYSIS 📈 Technical / Naked Price Action ⚖️ Overall Sentiment: Indecision 🍥 🎲 Hello traders! Let’s take a closer look at TVC:USOIL , which is currently at a critical juncture. The price is sitting within the mid-range of a long-term yearly support zone that spans $68 - $64. At the moment, USOIL is hovering around the $67 mark, reflecting a high level of market indecision. 💡 Key Observations: 🔴 SELL Scenario: A sell opportunity arises if the price breaks below $64, signaling a bearish continuation. 🟢 BUY Scenario: A buy opportunity could emerge if the price closes above $68, potentially leading to a retest of the descending triangle’s resistance trendline near $76. 📌 Trading Tip: For now, it’s best to exercise patience and wait for the market to decide its next path and confirm its direction. 🧠 Let’s Collaborate! Share your ideas, thoughts, and charts in the ⁠💬┃community-chat channel. Got questions? Let us know—we’re eager to hear how you think USOIL will move next! Best Regards, The NFX Team™ 💚
FX:USOIL
by nicholasilechie
Bearish reversal off overlap resistance?WTI oil (XTI/USD) is rising towards the pivot and could reverse to the 1st support which acts as a pullback support. Pivot: 71.13 1st Support: 68.99 1st Resistance: 72.94 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XTIUSDShort
by ICmarkets
USOil WTI Bullish 1:2 Trade1. Market Analysis: Asset: US Oil (WTI Crude) Timeframes: 1-hour (1H) and 4-hour (4H) Setup: Bullish divergence observed on both 1-hour and 4-hour timeframes Support Level: Price is near a strong support zone, providing a solid base for a potential bounce. 2. Divergence Details: Bullish Divergence: Both 1-hour and 4-hour charts are showing bullish divergence, indicating weakening bearish momentum as the price approaches strong support. This divergence can signal a potential reversal to the upside if confirmed by bullish price action. 3. Trade Setup: Entry Point: Enter a long position when a bullish confirmation candle forms (such as a bullish engulfing or hammer candle) on the 1-hour chart after divergence confirmation. This candle should close above the support level for a stronger entry signal. Stop-Loss: Place the stop-loss just below the strong support level to protect against further downside risk. This positioning ensures risk is limited in case the support does not hold. Take-Profit: Aim for a 1:2 or higher risk-reward ratio, targeting the next resistance levels on the chart. Consider recent highs or Fibonacci retracement levels on the 4-hour timeframe as potential take-profit areas. 4. Risk Management: Position Size: Determine position size based on risk tolerance, ensuring only a small percentage of capital is risked on this trade (e.g., 1-2%). Risk-Reward Ratio: Aiming for at least a 1:2 risk-reward ratio provides an advantageous setup, enhancing potential reward relative to risk. 5. Additional Confirmation: Volume Analysis: Look for an increase in volume on the 1-hour chart as the price bounces from support to confirm strong buying interest. Support-Resistance Alignment: Ensure the support level aligns well with recent price structure and support zones on higher timeframes to reinforce the strength of this setup. 6. Trade Execution: Place Orders: Set buy orders, stop-loss, and take-profit levels according to the criteria above. Monitor the Trade: Manage the trade by adjusting the stop-loss to break even or trailing it if the price moves strongly in your favor. 7. Review and Adjust: Post-Trade Analysis: After closing the trade, review the outcome to evaluate effectiveness and learn from the trade setup.
FX:USOILLong
by MAAwan
USOIL Will Go Down! Sell! Here is our detailed technical review for USOIL. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 69.181. Considering the today's price action, probabilities will be high to see a movement to 63.975. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
OANDA:WTICOUSDShort
by SignalProvider
1
USOILForex trading involves higher leverage (up to 50:1) and 24/5 market access, focusing on currency pair movements affected by economic data, interest rates, and geopolitical events - the key risk is that high leverage can quickly amplify losses, plus overnight positions face swap fees and gap risks during major news. Stock trading typically offers lower leverage (2:1 to 4:1), operates during exchange hours, and focuses on company fundamentals, earnings, and broader market sentiment - main risks include earnings surprises, market volatility, and lower liquidity in individual stocks compared to major forex pairs, while key advantages include better transparency through public financial reports and generally lower spreads than exotic forex pairs.
FX:USOILLong
by HavalMamar
WTI continues to decline, even as Biden reverses policyAccording to CFTC data, the net long position of crude oil speculators decreased by 21,944 lots to 71,587 lots, reflecting that market expectations of rising crude oil prices have cooled. TVC:USOIL fell during the Asian session on Monday (November 18), trading around $66.90/barrel, a drop equivalent to 2.43% on the day. Basically, although the geopolitical situation is heating up, its impact on oil prices is limited. The main reason is that global demand is expected to continue to decline, which is an important factor limiting the recovery of oil prices. EIA inventories also increased last week, which is not favorable for a supply-side recovery in oil prices. According to CFTC data, the net long position of crude oil speculators decreased by 21,944 lots to 71,587 lots, reflecting that market expectations of rising crude oil prices have cooled. Biden reverses policy on Russia-Ukraine conflict, allowing Ukraine's military to use US weapons to attack Russia's homeland President Joe Biden's administration has allowed Ukraine to use US-made weapons to attack Russia's homeland Russian land. This is a major reversal in Washington's policy in the Russia-Ukraine conflict. Sources said Ukraine plans to launch its first long-range strike in the coming days, but they did not disclose details due to concerns about operational security. There are still two months until President-elect Trump will take office on January 20. Ukrainian President Volodymyr Zelensky has for months asked for Ukraine's military to use US weapons to attack military targets deep inside Russia. Biden's policy reversal has created some risks in the market, but it is also not considered good support for oil prices when there is a very high possibility that when Trump takes office, all policies related to the War in Ukraine will be abolished. On the daily chart, TVC:USOIL is still maintaining the main downtrend sent to readers in previous publications with the current short-term target at about 66.44USD. The relative strength index (RSI) is pointing down with a steep slope and away from the oversold area, suggesting a broad bearish outlook ahead. As long as WTI crude oil remains below its 21-day moving average (EMA21), it will still have a bearish near-term trend outlook. And once WTI crude oil is sold below 66.44USD it will have the conditions to fall a bit more with the target then being around 65.28USD. During the day, the downtrend of WTI crude oil will be noticed again by the following technical levels. Support: 66.44 – 65.28USD Resistance: 68.11 – 68.77USD
TVC:USOIL
by Xayah_trading
Bullish bounce off pullback support?WTI oil (XTI/USD) is falling towards the pivot which has been identified as a pullback support that lines up with the 50% Fibonacci retracement and could bounce to the 1st resistance. Pivot: 68.32 1st Support: 66.77 1st Resistance: 70.98 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XTIUSDLong
by ICmarkets
WTI set for breakdown amid supply, demand concernsAlthough oil prices were trading higher at the time of this writing, it is becoming increasingly difficult to foresee a big rally at this stage, without any supply-side shocks. WTI's price action has been quite heavy as it continues to make lower lows and lower highs. While it has held its own around the December 2023 levels of around $67.00 to $68.00 area, this could prove to be a temporary respite before we potentially see a bigger breakdown. Not only has oil broken the key $69.30 to $70.00 support range, which is now holding as resistance, sentiment towards oil is increasingly turning bearish amid growing signs of excess surplus from non-OPEC. Indeed, the oil market is heading for a surplus next year, according to the IEA. The agency is forecasting an excess of over a million barrels per day, mainly due to faltering demand from China. Once the driver of global oil consumption, China has seen demand shrink for six consecutive months, largely as its economy pivots to electric vehicles and high-speed rail. Growing supplies from the US, Brazil, Canada, and Guyana keep the market well-supplied, says IEA. Demand growth this year and next will stay subdued due to slower economic growth and clean energy transitions. OPEC+ plans to cautiously restart production, with a 180,000-barrel-per-day increase set for January, though they’ll reassess in December. With supply growth outpacing demand, the market is likely to stay comfortably stocked well into 2025. Against this backdrop, crude oil looks set for a sharp drop after drifting lower in recent weeks. By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:USOILShort
by FOREXcom
USOIL:Long after the pullback trading strategy Crude oil yesterday is also strong pull up, the overall bullish thinking and expectations are consistent, coupled with the contract delivery today, crude oil will be likely to break through the previous strong pressure 69.40 this position, crude oil thinking is also low bullish; Asia-europe session is expected to shock before pulling higher, pay attention to 68.5-68.3 support, in addition to the previous crude oil inventory data is also positive, crude oil may enter a wave of bulls. Upper targets see 69.4-70.6
TVC:USOILLong
by Boooooob
WTI Oil H4 | Potential bearish reversalWTI oil (USOIL) has reversed off a resistance zone and it could drop lower from here. Sell entry is at 70.81 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level. Stop loss is at 73.00 which is a level that sits above a swing-high resistance. Take profit is at 66.90 which is a multi-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. 64% 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. 66% 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
Oil Market Outlook: Bearish Options FlowA few words about the prospects of oil through the lens of options trading. The sentiment is leaning more bearish than bullish. We're seeing a surge in vertical spreads and butterflies on puts, targeting the $65-60 range for February-March 2025. If we look at the charts, the price action resembles a 'settling' at the support level of $65-66. It’s looking like we might see a support break, potentially a swift one, which could send prices down to a lower range, just like we've seen in the past. But for now, this is just a theory based on price action and the options flow.
TVC:USOILShort
by ClashChartsTeam
WTI H1 | Bullish Reversal Based on the H1 chart analysis, we can see that the price is falling to our buy entry at 68.24, which is a pullback support close to 50% Fibo retracement Our take profit will be at 70.11, a pullback resistance. The stop loss will be placed at 66.95, which is an overlap 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. 64% 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, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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:USOILLong
by FXCM