USOIL Technical analysisThere is a possibility of going up. If it breaks down, it will go down even further. Otherwise, it is likely to go up gradually.
USCRUDEOILCFD trade ideas
falling wedge formation on 1 Hr chartCrude oil is forming a falling wedge pattern on 1 hr time frame after retesting daily head and shoulder pattern and demand zone.
Breakout level 65.6
stoploss 64.4
target 68.3
CRUDE OIL (WTI): Technical Analysis & Important pattern to WatchHere’s my latest analysis on ⚠️USOIL price action.
The price has recently finished a correction, followed by a brief consolidation in a horizontal range and an ascending triangle pattern
A bullish breakout above the intraday resistance levels would suggest a likely end to the accumulation phase.
The chances are high that the pair is returning back to a bullish trend, with a target of 77.00.
Strong fundamentals back this bullish outlook.
WTI OIL Might be close to the end of correction or finished it.there are definetly more than 1 posibilities in this one, 1 more down wave can occur and that is why i have a invalidation level. long term definetly buy but short and mid term is just not very clear, i am thinking it s time to buy. what i am going to do is keep track of it a bit more in short term and if it gives me good buying opportunity near the below i will enter the trade with a stop loss. and if it upbrakes possible impulse wave will occur and i will buy again to mid term target. so for now keep an eye on it and buy if the opportunity arise.
WTI Crude oversold rally support at 6400WTI crude oil is trading just above a two-week low of 6400, as demand concerns continue to weigh on prices.
The pressure comes from uncertainty around President Trump’s tariff policy, which could worsen when the current 90-day pause ends on July 9. So far, only a minor trade deal with the UK has been reached, adding to fears of a global slowdown and weaker oil demand.
Earlier this week, oil prices also dropped after Trump announced a ceasefire between Israel and Iran, easing fears about disruptions through the Strait of Hormuz, a major oil shipping route.
On the positive side, expectations for Federal Reserve rate cuts are rising. If Trump replaces Fed Chair Jerome Powell with someone more supportive of rate cuts, it could help lift oil prices slightly by boosting the economic outlook.
Overall, oil remains under pressure with limited upside unless demand outlook improves or further supportive policy measures emerge.
Key Support and Resistance Levels
Resistance Level 1: 6925
Resistance Level 2: 7080
Resistance Level 3: 7230
Support Level 1: 6460
Support Level 2: 6300
Support Level 3: 6100
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Crude Oil Trades in Range with Bullish PotentialCrude Oil trades above key support at $64.6, hovering near $66.83. If buyers maintain control, the next upside target is $69.45.
However, a bearish breakdown below $62.42 would invalidate this bullish outlook.
USOIL Buy- Go for buy if entry setup given
- Refine entry with smaller SL for better RR, if your strategy allow
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CRUDE set to fire 82 $ 90 $ 104 $ ????Crude Daily Elliot waves count suggest big UP setup in progress right now
55 $ key level to watch for buyer Extension point
Due to amid middle-east war situation may trigger Up move impulse wave towards 82 $ to 104 $ range
EW count are keeping changing during different price action in different time frame & multiple forecast .
this educational based chart as per EW theory method
LONG ON OILUSOIL is consolidating at a major demand area.
We have a small choc (change of character) from down to up on the lower timeframe.
I will be buying oil to the next supply level looking to catch 500-1000 pips.
Crude Oil Gets Trapped Back Inside 3-Year Down trending ChannelAfter failing to close above the upper border and the 78 resistance level, and amid renewed hopes for a Middle East ceasefire, oil prices dropped sharply back toward the neckline of the inverted head and shoulders formation—initially broken ahead of the recent war escalation—at 64.70.
A sustained move below that neckline could target crude prices toward the mid-zone of the established channel, near 63.40 and 61.40, where another rebound may take shape.
On the upside, if a clear recovery re-emerges above the 72-mark, the potential for a breakout above the 78-resistance could return, opening the door to revisit the 80 and 83.50 highs.
— Razan Hilal, CMT
USOIL: Bullish Correction Ahead! Buy!
USOIL
- Classic bullish correction formation
- Our team expects growth
SUGGESTED TRADE:
Swing Trade
Buy USOIL
Entry Level - 65.16
Sl - 62.68
Tp - 68.86
Our Risk - 1%
Start protection of your profits from lower levels
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Crude oil fluctuates in a narrow range, waiting for direction
💡Message Strategy
Middle East ceasefire eases supply concerns, but risk premium remains
Oil prices rose more than 1% on the day as investors weighed the status of the ceasefire between Iran and Israel. Although both sides have announced an end to hostilities, US intelligence reports show that Iran's nuclear capabilities have only been temporarily damaged. ING analysts pointed out that although immediate concerns about supply disruptions have subsided, potential risks remain, a factor that may support spot prices in the short term.
Previously, crude oil prices soared after the US military action on Iranian infrastructure, but prices have retreated as the ceasefire continues. Although the geopolitical premium has been reduced, it has not been fully digested.
API shows a sharp drop in inventories, traders await EIA report
Industry data from the American Petroleum Institute (API) showed that US crude oil inventories fell sharply by 4.23 million barrels in the week ending June 20, far higher than the expected drop of 800,000 barrels. Gasoline and distillate inventories increased by 400,000 barrels each.
Market focus now turns to the US Energy Information Administration (EIA) report scheduled for release on Wednesday. Traders were expecting a 1.2 million-barrel draw in inventories, and confirmation of that figure by the EIA, widely viewed as an industry benchmark, would reinforce expectations of tighter supply.
📊Technical aspects
From the daily chart level, crude oil fluctuates upward in the medium term and tests around 67. The K-line closes with a large real negative line, which has not yet destroyed the moving average system and is still supported. The medium-term objective upward trend remains unchanged.
However, from the perspective of momentum, the MACD indicator crosses downward above the zero axis, indicating that the bullish momentum is weakening. It is expected that the medium-term trend of crude oil will fall into a high-level oscillation pattern.
The short-term trend of crude oil (1H) is in a narrow range of consolidation, with a small fluctuation. The oil price repeatedly crosses the moving average system, and the short-term objective trend direction fluctuates. In terms of momentum, the MACD indicator fast and slow lines slowly rise below the zero axis, and the long and short positions are in a stalemate, with no obvious advantage on one side. It is expected that the trend of crude oil will maintain a consolidation pattern during the day.
💰Strategy Package
Short Position：67.00-67.20，SL：67.80，Target: 65.50-64.50
Long Position:64.00-64.20，SL：63.50，Target: 65.50-66.50
WTI USOILKey Factors Affecting US Oil Prices Today:
Geopolitical Developments:
Oil prices had surged earlier in June due to US airstrikes on Iranian nuclear sites and fears of supply disruptions through the Strait of Hormuz. However, prices fell sharply after a ceasefire was announced between Israel and Iran, easing immediate supply concerns.
Inventory Data:
Market participants are awaiting US crude and fuel inventory reports. Recent data showed a significant drawdown in US crude stocks, supporting prices despite geopolitical easing.
Demand Signals:
US refinery utilization has increased, and gasoline demand is near multi-year highs, indicating strong domestic consumption that underpins oil prices.
Market Sentiment:
After a recent two-day plunge (Brent fell over 6%), oil prices are recovering as investors reassess the durability of the ceasefire and ongoing demand fundamentals.
WTI looks to end bearish run after bullish inventories dataWe have had some more bullish oil news from the weekly US inventories report. It remains to be seen whether the news is enough to lift the oil price.
Following the API data overnight we had even more bullish-looking official inventories report from the US Department of Energy.
The fact that crude stocks fell for the 5th straight week certainly points to strong demand, pushing stockpiles to their lowest levels since January.
As well as the big headline draw, stocks of crude products fell sharply too. The 2 million barrel draw in gasoline inventories was much higher than the API report, and suggests the driving season is well and truly at full steam, when demand for gasoline tends to rise.
In case you missed it, the DoE reported the following numbers:
• Crude -5.84mm
• Cushing -464k
• Gasoline -2.08mm
• Distillates -4.07mm
Whether or not oil can now stage a meaningful rebound remains to be seen. It has certainly lost its entire risk premium associated with the Iran-Israel conflict. Perhaps it is up to the OPEC+ now to decide with the alliance due to hold discussions on July 6 to consider a further supply boost in August. Any hints of a slower supply boost could provide support to prices.
By Fawad Razaqzada, market analyst with FOREX.com
USoilLatest news. If the Strait of Hormuz is closed, the restrictions on the import and export of oil and natural gas will increase greatly. Because 20% of the world's oil and natural gas exports come from the Strait of Hormuz. So the trend of geopolitics will affect the closing and opening of this important checkpoint. If the increase in geopolitics really reaches this point, the price of oil may rise to 90$-100$. This is an excellent trading opportunity for investors who like to trade oil. But at present, this is an option for Iran to negotiate. Rather than a real closure, after all, the incident has not developed to this situation. If you like to trade oil. You can also follow me. Get brand new trading opportunities and make profits. Do not trade independently to avoid losses.
Tariff Panic = Opportunity | WTI Long SetupWTI Oil has finally dipped into my long-watched buy zone, driven by macro fear and an aggressive tariff agenda. The current drop aligned perfectly with my long-term execution plan. I’ve placed this trade based on key historical demand levels with my stop-loss and take-profit clearly defined. I’m prepared for deeper drawdown, but this area remains high-conviction for me. Execution > Prediction.
Technicals:
• Key Level: Price tapped into a major demand zone dating back to 2021 lows, which had been protected ever since.
• Liquidity Sweep: This drop mitigated every low formed post-2021 — clearing out late longs and stop hunts.
• Trendline Break Anticipation: I expect a potential trendline breakout from the long-term descending structure.
• SL/TP Defined: This trade has structure. It’s not a hope-based setup, it’s pre-planned and managed.
• Consolidation + Accumulation: This is where strong hands prepare, and I’m joining in.
Fundamentals:
• Tight supply, rising global demand, and structural underinvestment in oil exploration.
• Chinese reopening + Russian ban tighten market availability.
• Central banks expected to support demand via easing cycles.
• Oil Bearish Catalyst (Short-Term):
• US tariff wave: Trump announced a total 54% tariff on China and baseline tariffs on all trading partners.
• Escalating fears of global economic slowdown pushed prices to $58.80, a 4-year low.
The bearish panic gave bulls like us a gift. This is how real trades are born - not in euphoria, but in blood.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
CRUDE OIL (WTI): Bullish Move From Support
WTI Crude Oil may continue rising from an underlined blue support cluster.
As a confirmation, I see a quick liquidity grab below that and a consequent
bullish imbalance candle on an hourly time frame.
I expect a rise to 66.24
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WTI CRUDE OIL USD WEEKLY ANALYSIS Price is reacting from a weekly FVG just below the 50% of a larger range, with some bullish momentum possibly fueled by recent geopolitical tensions.
But price is still within a bearish range acting as resistance, so upside may remain limited unless structure shifts.
A daily bullish OB below the 50% of that range could offer a solid pullback entry if price retraces which is aligning with the broader narrative and upside liquidity. Im having a neutral view of this and leveraging on both sides.
What are your thoughts?
US CRUDE OIL LONG RESULT Crude Oil price has been in an overall bullish trend and after it broke out of the previously formed symmetrical triangle.
Tried to get in earlier but wasn't getting enough pullback levels tapped.
Almost got our S.l hit and also missed the Tp but still managed to close in profits.
_THE_KLASSIC_TRADER_.
OIL: THE CHART THAT COULD TIP THE WORLDWTI Crude just bounced hard off the $65 channel support, tagging resistance at $76 — and what happens next isn’t just about price. It’s about power.
Zoom into this chart:
We're sitting at a directional pivot with two possible outcomes:
1️⃣ If this was a truncated 5th wave, the structure is complete. Any further war escalation could be the catalyst for oil to break resistance — dragging down risk assets, including CRYPTOCAP:BTC and equities.
2️⃣ If wave 5 isn’t done, we’ll likely see one more sharp leg down before oil launches. Either way, this is a high-stakes Elliott Wave setup with global macro consequences.
Chart with FIB Levels:
You'll see the wave I’ve marked (3) is messy, and on lower timeframes, that may hint at a truncated move worth watching.
Why this matters:
Over 20% of global oil flows through the Strait of Hormuz, a critical chokepoint controlled by Iran. If conflict escalates, that line gets squeezed… and oil price explodes.
Price to watch:
$76 resistance.
If oil breaks, the markets will react fast.
If it fails, we might get one more correction and maybe some relief from the sideways pain we’ve seen across risk assets.
Remember the COVID Crash?
Oil literally went below zero in April 2020. That wasn't just a chart anomaly, it was a global demand collapse. Traders were paying to get rid of oil because there was nowhere to store it. That moment marked a generational low, and what followed was a powerful multi-year 5 wave up.
Now look where we are:
That same COVID low helped form the base of the current Elliott Wave structure. The fact we’re back testing levels that once sparked global panic is no coincidence.
If you’ve been here before, you’ll see the signs. The charts always leave traces. And if this is the end of wave 5, it could be the start of a whole new macro move.
TLDR:
Stop trading headlines.
Trade the structure.
This chart is telling us everything.
WTI Oil: further downside?Front page news this morning focussed on the ceasefire between Israel and Iran, first announced by US President Donald Trump on his Truth Social platform. However, reports recently emerged of Iran firing missiles, seemingly violating the ceasefire, but no confirmation has been received yet. The point is that things remain somewhat uncertain as of writing.
The technical front, nevertheless, is interesting on WTI Oil (West Texas Intermediate), and ultimately points to a moderate pullback before heading lower.
Monthly descending triangle in play
The flow on the monthly chart reveals that price action completed a descending triangle in April this year, formed between US$95.00 and US$64.41. Following the breach of the lower boundary and refreshing year-to-date (YTD) lows of US$55.15, a determined pullback materialised and resulted in the unit testing the upper barrier of the pattern. As you can see, the test has held for now, with June poised to end the month considerably off its best levels.
Given that price has aggressively rejected the upper boundary of the triangle formation, and if we see WTI push to fresh YTD lows, this would unearth a possible bearish scenario in the direction of support from US$42.57.
Daily Fibonacci resistance
Across the page on the daily chart, you will note that recent flow touched gloves with support at US$64.55, a level complemented by a 1.272% Fibonacci projection ratio at US$64.76, a trendline support (extended from the low of US$55.40), and a neighbouring 61.8% Fibonacci retracement level at US$63.70. Given that the 1.272% Fibonacci projection ratio also represents an ‘alternate’ AB=CD support pattern, traders that are long from US$64.55 may aim for the 38.2% and 61.8% Fibonacci retracement ratios of US$69.53 and US$72.59. Consequently, both of these lines serve as potential resistance levels to watch.
H1 confluence
With monthly price suggesting further selling, and daily resistance on the table, the H1 chart shines the spotlight on two levels of resistance at US$68.35 and US$70.14. However, I am more drawn to the latter level as a potential resistance. This is because it converges closely with the 38.2% Fibonacci retracement ratio on the daily timeframe mentioned above at US$69.53, as well as a nearby 1.618% Fibonacci projection ratio on the H1 chart at US$69.13.
As a result, my focus will be on H1 resistance between US$70.14 and US$69.13.
Written by FP Markets Chief Market Analyst Aaron Hill
USOIL: Target Reached!Noice! I mean my dss is fully functional and working ! This is going to be my permanant edge.
