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U.S. DOLLAR / WTI CRUDE OILU.S. DOLLAR / WTI CRUDE OILU.S. DOLLAR / WTI CRUDE OIL

U.S. DOLLAR / WTI CRUDE OIL

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Oil Market: WTI Barrel Faces the $78 BarrierOver the past two sessions, the price of crude oil has dropped more than 2%. This decline coincides with the Israeli Prime Minister reaching a ceasefire agreement in Gaza. The temporary peace deal has been perceived as favorable for oil production, as it eliminates a geopolitical conflict that could have disrupted operations in the Middle East. As a result, production expectations have risen, contributing to downward pressure on crude prices. Uptrend The WTI crude market has maintained a steady upward trend since early December 2024. However, the most recent bullish peak showed significant momentum, which could signal the emergence of bearish corrections in the price. MACD Indicator The MACD and signal lines remain bullish but have begun to exhibit a negative slope. Additionally, the histogram has fallen to a fully neutral position around the 0 line of the indicator. These developments suggest a potential exhaustion of previous bullish momentum, creating opportunities for bearish movements. RSI Indicator The RSI line remains close to the overbought territory, hovering near the 70 level. Any future movements that revisit this level could increase the likelihood of short-term bearish corrections. Key Levels $78: This is the current resistance level, coinciding with the highs from August 2024. Sustained moves above this level could strengthen the bullish outlook and potentially accelerate the ongoing uptrend. $72: A crucial support zone where bearish corrections are likely to see significant activity. Moves near or below this level could jeopardize the formation of the current upward channel. By Julian Pineda, CFA - Market Analyst
FOREXCOM:USOIL
by FOREXcom
WTI Crude Oil Probes Trend Line Resistance at 5-Month HighsChart Analysis: WTI Crude Oil is approaching a pivotal juncture as it tests the long-term descending trendline resistance, while short-term momentum remains firmly bullish. 1️⃣ Downtrend Resistance (Red Line): Prices are testing the multi-month descending trendline resistance near $78. A breakout above this level could signal a shift in the broader bearish structure. 2️⃣ Moving Averages: 50-day SMA (blue): Rising steadily at $70.51, providing dynamic support for the recent uptrend. 200-day SMA (red): Flattening around $75.06, aligning with the key breakout zone. 3️⃣ Momentum Indicators: RSI: At 72.05, indicating overbought conditions, which could precede a short-term pullback. MACD: Bullish momentum is intact, with the MACD line above the signal line and accelerating in positive territory. What to Watch: A sustained break above the descending trendline and the 200-day SMA could pave the way for a test of $82-$85 resistance levels. Overbought RSI warrants caution; traders should monitor for bearish divergences or signs of exhaustion. Failure to break above resistance could see prices retrace toward the 50-day SMA or $74 support. WTI Crude is at a critical crossroads, where a breakout could signal a trend reversal, while failure to sustain above resistance might reinforce the longer-term bearish bias. -MW
TVC:USOIL
by FOREXcom
USOIL to 75$As I indicated on the chart, there are two pending orders for oil, both of which must be filled. The first order is related to the gap between the two candles that has been identified, and the other is related to the pullback left from the breakout level, which has a price of about $75. If the $75 level is broken, we can also think about $72. In the overall trend, however, our view on USOIL will be bullish. So the best opportunity to buy is at the two levels mentioned.
TVC:USOILShort
by hojijoon
Crude Oil USOIL AnalysisHello Guy's this is My OverView For USOIL, Feel Free To Check It And Write Your Feedback In Comments Analysis of Crude Oil (USOIL) Here are the key observations: Price Levels: Current price is around $73.76. Sell signal at $73.76. Buy signal at $73.82. Trend Indicators: A recent upward trend is observed, indicated by a rising channel formation outlined with blue lines. However, the price has now reached an upper resistance level and appears to be reversing. Supertrend Indicator: The Supertrend indicator shows a value of 74.90, suggesting bearish sentiment when the price is below this level. Support and Resistance Zones: The chart indicates potential take-profit (TP) levels for short positions at $73.40 (Tp1) and $72.80 (Tp2). A broader support zone around $68.94 is highlighted in red, indicating significant support if prices drop further. Technical Outlook: in our setup s traders might be looking for short opportunities given the recent rejection from resistance. A target range for profit-taking on shorts between Tp1 ($73.40) and Tp2 ($72).80). Note: This analysis for educational purposes and not trading advice. Consider market conditions and strategies.
TVC:USOILShort
by David_Josh_Trader
1
WTI reaches key resistance zoneCrude oil prices have been stealthily rising over the past couple of weeks, but now is the real test as prices have reached some important resistance levels. As per the chart, WTI faces a band of resistance from its bearish trend line, 200-day moving average, and prior support and resistance, all converging around the psychologically important $75.00 level. Specifically, the resistance range comes in between $74.55 to $77.50. Yesterday's bearish price candle was the first sign of a potential reversal, although we haven't yet seen any downside follow-through. Support comes in around $71.50, the base of the recent breakout. Below that, $70.00 is the next downside target, followed by the recent lows. By Fawad Razaqzada, market analyst at FOREX.com
TVC:USOILShort
by FOREXcom
Potential bullish reversal?WTI oil (XTI/USD) has reacted off the pivot which could indicate a double bottom pattern which might lead to a potential price to the the 1st resistance that aligns with the 50% Fibonacci retracement. Pivot: 72.98 1st Support: 71.99 1st Resistance: 74.22 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
1
WTI OIL Critical crossroads on the 16-month Resistance.WTI Oil (USOIL) is having a strong rally in the past 30 days following the rebound on the 2-year Support Zone. This Zone has contained all 1W candle closings above it, so this rebound is coming as a natural technical reaction for buyers but it is about to face a critical Resistance Cluster. First is the 1W MA50 (blue trend-line) but the most important level is the 16-month Lower Highs trend-line that started in late September 2023. Technically, as long as it holds, the price is more likely to get rejected now back towards the Support Zone, so at the moment we are bearish with a 68.00 Target. If the Lower Highs trend-line breaks and WTI closes a 1W candle above it, we don't expect the 1W MA200 (orange trend-line) to offer much Resistance, so we will take the small loss on the short and switch to buying. Our Target in that case will be Resistance 1 at 84.50. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
1
USOIL Short Setup: Key Zone to WatchUSOIL is testing a significant resistance zone around the 78.00 level, an area where price previously faced strong selling pressure. Current price action suggests potential exhaustion, with signs of rejection visible. If sellers take control, a pullback toward the 76.01 level, acting as the first key support, could be in play. Traders should look for bearish confirmation, such as reversal candlestick patterns or breakdowns below recent lows, to position for a potential short move.
TVC:USOILShort
by TrendDiva
USOIL: Key Levels and Trend Direction AnalysisUSOIL Analysis The price has stabilized above the pivot line and closed the daily candle above it, indicating a continuation of the bullish trend gradually toward 75.35. A retest of 72.75 is possible before pushing up again. On the other hand, a 4-hour candle closing below 72.74 would confirm a bearish trend, targeting 71.78. Key Levels: Pivot Line: 73.40 Resistance Levels: 74.40, 75.35, 76.10 Support Levels: 72.74, 71.78, 70.50 Trend outlook: Bullish: While above 72.75 Bearish: If 72.74 is broken
TVC:USOILLong
by SroshMayi