#USOIL - #Crudeoil - Buying @ CMP 68 for Target 68.5-69- 70-73+#USOIL - #Crudeoil - Buying @ CMP 68 for Target 68.5-69- 70-73+
SL 67.5
#Swing Trade - #hourly Trade - #Cup and handle Breakout
Holding Period 2-3 weeks
or
Target or SL
USDWTI trade ideas
USOIL - Bullish Ideathis commodity is in down trend for some time.
Currently it have broken it trndline on 4H TF.
Bullish Divergence along with double bottom chart pattern.
USOIL: Go short next weekThis week, we went long on USOIL at $66 and it has reached the target area around $68.5. I predict that it will start to decline next week, so you can start shorting. Currently, all signals are accurate.
Currently, my account balance has grown from an initial $40,000 to $800,000 in profits. I will share accurate trading signals every day, and you have the option to copy my trading orders. If you're interested in getting these signals, you can click on the link below this article.
USOIL Market Analysis and Tactical InsightsCurrently, USOIL is trading around $67 per barrel.
On the supply side, while OPEC+ plans to increase production, ongoing geopolitical tensions in the Middle East are adding supply uncertainties.
On the demand side, U.S. fuel demand remains resilient, but the subdued global economic outlook may limit crude oil demand growth.
Technically, the daily chart shows moving averages in a bearish alignment, though the short - term RSI suggests relative market strength.
If the price rebounds and faces resistance near $67.9, consider a light short with a target of $66.
If the price stabilizes around $66, a long could be considered, with a target of $67.
USOIL Trading Strategy
sell@67.5-68
tp:66
buy@66
tp:67
I will share trading signals daily. All signals have been consistently accurate for an entire month. If you need them, you can check my profile for more information.
US Oil Short SetupWTI has been bearish since last week, to me.
here, i waited for that OB to hit for me to get a nice confirmation and here it is!
let's gooo!
WTI Crude Oversold bounce back consolidationThe WTI Crude Oil price action exhibits a bearish sentiment, driven by the prevailing downtrend. The recent price movement appears to be an oversold bounce back, forming a bearish sideways consolidation pattern. This indicates that the bears remain in control, with limited buying interest observed despite the temporary upward correction.
Key Level (69.52):
The critical trading level to watch is at 69.52, which marks the previous intraday consolidation zone. An oversold rally approaching this level could face bearish rejection, reinforcing the downtrend. A failure to break above this zone would likely prompt a continuation of the downside movement.
Support Levels:
If the bearish sentiment prevails and the price is rejected from the 69.52 level, the downside targets include:
67.00 - Immediate support level.
65.73 - Secondary support.
64.23 - Long-term support level.
Bullish Scenario:
On the flip side, a confirmed breakout above the 69.52 resistance level, followed by a daily close above it, would negate the bearish outlook. This breakout could trigger further upward momentum, targeting:
70.42 - Initial resistance post-breakout.
71.02 - Subsequent resistance level.
Conclusion:
While the overall trend remains bearish, an oversold bounce could temporarily push prices higher toward the 69.52 resistance level. Traders should watch for potential rejection or a confirmed breakout at this level to gauge the next directional move. A failure to break above 69.52 would favor bearish continuation, while a breakout and daily close above would open the door for further bullish rallies.
Crude oil can break the neckline of current formationCrude oil has developed the upswing having hit the neckline of cup-and-handle formation. Currently, the price action is muted, but should the price come to test this area again, it might develop the upswing with a target of $70, as it is still considered a fair price from a supply/demand point of view.
OPEC+ has announced plans for several member countries to reduce output by between 189,000 and 435,000 barrels per day until June 2026 to address previous overproduction and tighten supply, so that’s a bullish factor.
Demand from China has slightly decreased, but the situation looks balanced for now and technical factor would probably dominate the action.
US OIL LONG RESULT Cruse oil price has been choppy and moving randomly lately especially with Trump's Tarrifs and updates.
But I say the break from the ascending wedge and hold horizontal support zone area and price seemed to be heading to diagonal and horizontal resistance which I set our TP at and boom.
Klassic_Trader.
USOIL (WTI) LongUSOIL is not net long on the regression break.
I am considering my options on this pair.
OIL: GOING DOWN TO CLEAR THE ALL THE STOPSDaily is consolidating at the monthly support + with a breakout structure on H4 to the downside, lets get in and ride it all the way down to hunt all the stop-losses below monthly wicks. Good luck.
WTI bay My idea is that we should collect low liquidity and enjoy a beautiful rise with an interesting move.
I am only a buyer and I am also a long trade at the desired points.
USOIL: The target has been reached.I clearly gave the signal to buy crude oil at the price range of 66 - 66.5 on Monday. Currently, it has reached the target position of 68 - 68.5. It is approaching the key resistance level. If the profit is sufficient, you can close the order.
Currently, my account balance has grown from an initial $40,000 to $800,000 in profits. I will share accurate trading signals every day, and you have the option to copy my trading orders. If you're interested in getting these signals, you can click on the link below this article.
Crude oil bears pounce again and enter the 3-5 waveJudging from the current trend, although crude oil is in a short-term rebound phase, the overall bearish trend has not changed.Personally, I think the 3-4 wave rebound is likely to have ended, and the MACD indicator shows that the rebound momentum is weak. Therefore, today's operations should focus on shorting the rebound and seizing the falling opportunity of the 3-5 wave.
Suggestions:
1. Go short at $67.20, stop loss 30 pips, take profit $64.80.
2. If the short position of strategy 1 is stopped out, go short again at $67.85, stop loss 30 pips, take profit $66.
3. If the market falls below $66 before 16:00, you can go short at $65.90 with a stop loss of 30 pips to $66.90.
WTI Crude INTRADAY ahead of US inventories reportThe WTI Crude Oil price action sentiment appears bearish, reinforced by the prevailing long-term downtrend. The recent price action indicates a potential oversold rally, approaching a critical resistance zone.
Key Levels and Price Action
The primary trading level to watch is 68.40, representing the current intraday swing high and falling resistance trendline. An oversold rally towards this level, followed by a bearish rejection, could confirm continued downward momentum. In this case, the next downside support targets are at 65,73, 64,23, and 63,11 over the longer timeframe.
On the other hand, a decisive breakout above the 68.40 resistance level, confirmed by a daily close, would invalidate the bearish outlook. This scenario could trigger further rallies toward the next resistance levels at 69.50 and 70.30.
Conclusion
The sentiment remains bearish as long as the 68.40 resistance level holds. Traders should carefully watch the price action around the 68.40 level to assess the next directional move.
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OIL Today's strategyIn the short term, there is a simultaneous advance of the long positions in crude oil. The price has tested the vicinity of $68.5 several times but encountered resistance. Moreover, after reaching around $65.2 at the lower level, it rebounded rapidly. The market still needs further testing. In the short term, it is advisable to sell high and buy low within the range of $68.5 to $65.2.
OIL Today's strategy
sell@67.5-67.9
buy:65.7-66.2
If you don't know how to do it, you can refer to my transaction.
USOIL | LONGWe just closed above an important resistance, making it a good entry for longs.
We're at a major support level at the 1W, we should see atleast a small retracement before potential continuation down.
1W
USOIL BULLISH BIAS RIGHT NOW| LONG
USOIL SIGNAL
Trade Direction: long
Entry Level: 66.30
Target Level: 67.73
Stop Loss: 65.34
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 4h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
✅LIKE AND COMMENT MY IDEAS✅
USOil: The trading strategy is to continue shortingYesterday, crude oil prices peaked and then witnessed a sharp decline, directly plunging through the upward gap that opened at the beginning of the week.
The current market situation is at the initial stage of a downtrend. It is projected that after rebounding to the range of 67.00 - 67.80, the downward movement will resume. Moreover, the strength of today's rebound indicates relatively feeble upward momentum, and market sentiment leans towards caution.
Consequently, today's trading strategy will mainly focus on shorting on rebounds. Traders should wait for the market to rebound to key resistance levels before entering the market.
USOIL Trading Strategy:
Sell@67.7-68.3
TP:66-65
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USOIL remains under pressure Technical Perspective
USOIL pared recent gains following a reversal below the descending channel's upper bound and resistance at 6850. If USOIL sustains its bearish momentum, a further drop toward the following support at 6500 may occur. Conversely, a break above the resistance at 6850 could prompt a further rise toward the following resistance at 7000.
Fundamental Perspective
Oil prices declined as the American Petroleum Institute reported a 4.6 million barrel increase in US crude stockpiles, highlighting concerns over growing inventories. This rise in stockpiles pressures oil prices as supply continues to outpace demand. Geopolitical risks also weighed on sentiment, with Russian President Putin rejecting US President Donald Trump's request for a ceasefire in Ukraine, further escalating tensions. Additionally, Trump has ramped up pressure on Iran over regional instability, adding to the volatility in oil markets.
Meanwhile, OPEC and its allies are considering increasing production, which could increase global supply. On the demand side, weak consumption from China and ongoing trade tensions threaten to dampen risk sentiment, potentially weighing further on oil prices in the short term. With these factors combined, oil markets face a challenging outlook, marked by a delicate balance between rising supply and uncertain demand dynamics.
By Li Xing Gan, Financial Markets Strategist Consultant to Exness
West Texas Oil Futures Bias for March 17-21
Weekly
I am still bearish long term and expecting the relative lows of low 65 levels to be tested again. Order flows are very bearish.
Daily
With Tuesday candle closing through Monday's low tells me the day will continue lower with big wick rejection of Monday's high aligning with my weekly bias.
I will try my best to update this on the notes below for the week.
I appreciate to hear what you think.
Regards,
Jun
usoil:sell@68-68.5Although crude oil opened higher on Monday this week, the upward trend did not continue. Once it reached the resistance area, it's time to start attempting short selling.
usoil sell@68-68.5
tp:67-66.5
Currently, my account balance has grown from an initial $40,000 to $700,000 in profits. I will share accurate trading signals every day, and you have the option to copy my trading orders. If you're interested in getting these signals, you can click on the link below this article.
