USOIL trade ideas
ANALYSE US IOL us iol now go finsish the wave on last wave in correction for give new imposule wave to buy in future
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Bullish bounce?WTI Oli (XTI/USD) is falling towards pivot which has been identified as a pullback support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 75.10
1st Support: 73.14
1st Resistance: 77.10
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Buy OIL 71$ - 74$ zoneOil needs a temporary rest after the rapid pump it had. This rest is somewhere between $71 and $74. Since the oil trend is still bullish, it is not easy to enter the trade. It is reasonable to wait for the trend correction. The first definite target for oil according to the chart ahead is $82. However, in my opinion, the great oil cycle has begun to grow again and it has goals of close to $170 to $200 in the future. However, it is better to consider short-term goals. The final point, based on the analysis ahead, is that oil will definitely see a price of $100 again in the next few months.
USOIL to 75$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.
WTI crude oil Wave Analysis 23 January 2025
- WTI crude oil reversed from resistance level 78.00
- Likely to fall to support level 72.60
WTI crude oil recently reversed down from the major resistance level 78.00 (has been repeatedly reversing the price from July, as can be seen from the daily WTI chart below)
The downward reversal from the resistance level 78.00 started the active intermediate impulse wave (3).
WTI crude oil can be expected to fall toward the next support level 72.60 (low of the previous short-term correction iv from the start of this month).
Oil ShortTrade is nicely in profit. My targets are much lower. Oil tends to move aggressive and quickly. Let's see how it goes
US oil for today and tomorrow US OIL is taking pullback, it is not in bearish sentiment, wait for the levels and again up side, here is the levels for today and tomorrow session.
I am not SEBI REGISTERED analist, This is my personal view only for education purpose .
USOIL - Long SetupMy main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels.
In particular case we clearly can see the following context: price swept 1D key swing low and left untouched swing high.
But to take more statistically more probable trades we should wait for some type of lower timeframe confirmation, and it this case we can notice sign of strength, so potentially there is a higher probability to see price higher.
Your success is determined solely by your ability to consistently follow the same principles.
Bullish bounce off pullback support?USO/USD is falling towards the support level that aligns with the 161.8% Fibonacci extension and the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 75.03
Why we like it:
There is a pullback support level that aligns with the 161.8% Fibonacci extension and the 50% Fibonacci retracement.
Stop loss: 73.03
Why we like it:
There is an overlap support level that is slightly below the 61.8% Fibonacci retracement.
Take profit: 77.44
Why we like it:
There is an overlap resistance level.
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USOIL POTENTIAL TRADE SETUP📢 Quick Market Update: EIA Report on FX:USOIL Crude Oil
The EIA Crude Oil Stocks Change report is out, and it caught everyone off guard! The actual figure came in at -1.017M, significantly higher than expected. This is negative for Crude, signaling potential lower prices ahead.
If you caught our last WMA announcement, you’re already prepared for this scenario. Based on the report:
🔹 Expect Crude to decline toward $73 support.
🔹 A potential bullish recovery could follow, aiming to break above the yearly descending triangle formation on the chart.
💡 Key Notes:
No open trades currently.
The fakeout is confirmed, so a dip towards yearly support strengthens confidence in our potential BUY trade.
For now, stay put and let the market settle.
📈 Once we confirm a bullish reversal or continuation, we’ll look to go long. Remember, the overall market trend remains bullish, so stick to the trend and trade smarter, not harder!
Stay tuned for further updates! 🚀
23-1 Oil: all signals are green when it comes to a long trend. Only oil reacts differently. The signals of our system show that long trend. The price of oil drops towards the 50% fib., measured from the bottom at the beginning of this year and the top on 15 Jan. We have entered a sell but keep an eye on the price in case of a pull back. The sell was executed at 76,400.
OIl and Fibonacci in trendAn excellent example of applying Fibonacci retracement levels in the calculation of where to expect the end of the pullback and the continuation of the trend. The oil price was very consistent and pullback resistance was stopped in the zone of the 61.8% Fibonacci level. Now we are waiting for the formation of a new bottom and a new pullback
Prime Buying Opportunity for Crude Oil Nearing
Crude oil is currently consolidating around the $75 level. A glance at the daily MACD reveals a close but no crossover of the MACD and signal lines. A bearish close today could signal a downturn, but a bullish close would likely see the MACD resume its upward trend.
Since its correction from $79, the price has been holding above the midpoint of the January 10th bullish candle at $74.66. This level, also coinciding with the 5-day moving average on the weekly chart, is a crucial support zone. Given the significant volume accumulated in the first week of January, this presents a compelling opportunity for aggressive swing trading.
Today's oil inventory report is expected to act as a catalyst for a bullish reversal. While the market is bearish on oil supply expansion due to Trump's election, technical analysis suggests further upside potential. We recommend adopting a buy-on-dip strategy.
For daily insights into Nasdaq, oil, and gold, please follow and subscribe to my analysis.
OIL POSSIBLE BUY?The market is currently testing the current Daily 0.7 & 0.61 Fib area. Based on 4HR TF, the market seems to be forming a possible reversal pattern which could lead to a possible reversal.
We could see BUYERS coming in strong should the current level hold.
Disclaimer:
Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account.
High-Risk Warning
Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
Short USOILUSoil making series of Lower high and Lower lower. we cam make good profit at these entry levels.
WTI OIL Channel Up emerging, aiming at $90.WTI Oil (USOIL) recently broke above its 15-month Lower Highs trend-line that has been keeping it under a bearish trend and is now naturally pulling back. This technical pull-back is so far within the tolerance levels of a bullish trend.
The pattern that making use of this trend is a Channel Up, newly emerged and now about to test the 1D MA200 (orange trend-line) as a Support for the first time since August 14 2024. As long as it holds, we expect the new Bullish Leg to start and as with the Jan - Apr 2024 Channel Up, rise towards the 1.786 Fibonacci extension. Our Target is quite below it at $90.00.
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USOIL Will Move Higher! Long!
Take a look at our analysis for USOIL.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 75.561.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 82.488 level.
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.
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Crude oil may bounce higherCrude oil has been influenced by mostly technical factors at the beginning of 2025. Even though the geopolitical situation in the Middle East had eased, the colder than usual weather in the United States along with diminishing stocks of oil have boosted the price above the 3--month trading range.
The price of USOIL has been moving within the rising trend, almost having hit the $79-80 price area. Despite the strong reaction at the peak, the market may still be in control of buyers and need to retest the $77-78 zone again after retesting the dynamic support area at around $73 as shown at the chart.
The medium-term price projection from Energy Administration of the United States involves a possible pullback in the first quarter of 2025, after which the price may continue moving down towards $60 area in the long-term,
The new political administration in the US claims to support oil and gas exploration and mining companies, which might positively affect prices of energy stocks, but that’s a big question of whether or not, demand for oil and gas would increase apart from the official forecast.
Don't forget - this is just the idea. Always do your own research and never forget to manage your risk!
USOIL LONG FROM SUPPORT
Hello, Friends!
It makes sense for us to go long on USOIL right now from the support line below with the target of 79.40 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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WTI | Selloff Back to $68 w/USD/JPY CorrelationSince the last call on Oil we successfully hit the $77 target.
This next move is now looking to head back to $68 support based on the pivot moves within the current Descending Triangle pattern.
This is also another opportunity to take a back-to-back swing on FX:USDJPY
We got divergence on the forex pair acting like the 'price' and 'oil' acting like the indication
(Convergence/Divergence)
Oil moves first on the down move and usdjpy will follow through after it makes one more leg up.
Crude Oil retracement potential continuationClean and slow retracement back to daily 20 SMA, MACD close to crossing back over
WTI CRUDE OIL: Buy opportunity on the bottom trendline.WTI Crude Oil remains bullish on its 1D technical outlook (RSI = 58.480, MACD = 1.830, ADX = 66.542) despite the 4 day selling streak, which pushed the price under the 4H MA50. The HL trendline is still intact though, so technically that is a sound buy opportunity, especially if the 1D RSI hits the 30.000 oversold level. We're bullish (TP = 86.00).
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