WTI could see another push to $80Upward trend with a bullish wedge break. Support is at around $75 and target is at around $80. If we see prices well below $75 this trade is invalidated. But do not put your SL to close below the support.
USOIL trade ideas
Crude Oil (WTI): Breaking Down the Chart and Trading PotentialCrude oil, one of the most actively traded commodities globally, is displaying a potentially bullish setup on its chart. After a prolonged period of consolidation, WTI seems to be testing critical levels that could dictate its direction in the near term.
Chart Breakdown
Support Zone: The primary support zone lies between $6,600 and $6,900, which has acted as a strong accumulation area for buyers. A clear bounce from this level adds strength to the bullish outlook.
Resistance Levels: The first major resistance to watch is at $7,130. This is the key breakout level that crude oil must surpass to confirm further upward momentum. Beyond this, a sustained breakout could take prices toward the next target at $7,725, which aligns with historical resistance levels.
Possible Scenarios
Bullish Case: A breakout above $7,130, coupled with sustained volume, could confirm the beginning of a fresh rally. The immediate target would be around $7,725, with potential for further upside if momentum persists.
Bearish Case: On the other hand, a breakdown below $6,600 could signal renewed selling pressure. If this occurs, crude oil may slide toward lower levels, potentially revisiting $6,400 or beyond.
Trading Plan
Bullish Setup:
Entry: Above $7,130 with strong buying volume.
Target 1: $7,725
Stop-Loss: Below $7,000
Bearish Setup:
Entry: Below $6,600 with confirmation of selling momentum.
Target 1: $6,400
Stop-Loss: Above $6,800
Key Takeaways
Crude oil is on the verge of a breakout from its consolidation phase, with critical levels identified for both bullish and bearish scenarios. Whether you're a short-term trader or a long-term participant in the commodity market, staying aligned with these levels could be the key to success.
Where do you see crude oil heading next? Let’s discuss in the comments below! 📈📉
⚠️ Disclaimer: This blog is for informational purposes only and does not constitute financial advice. Always conduct thorough research before making trading decisions.
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Crude Oil Analysis – Current Trend and Key Levels 6PMCMP: 75.77 (-0.12%)
Crude Oil is trading within a descending channel, showing a strong bearish trend on the hourly chart.
Key Levels:
Resistance Zones:
76.50 (previous breakdown zone).
78.00 (upper channel boundary and significant supply zone).
Support Zones:
75.00 (immediate support).
73.00 (major demand zone).
Trading Plan:
Bearish View:
Short below 75.50 with a target of 75.00 and 73.00.
Stop Loss: Above 76.50.
Bullish View:
Long above 76.50 for targets of 78.00.
Stop Loss: Below 75.50.
Crude Oil remains under pressure unless it breaks out above 78. Watch the trendline and volume closely for confirmation.
#CrudeOil #CommodityTrading #MarketAnalysis
WTI Crude Oil Analysis: Demand Zone Reversal and Fibonacci Targewe can see that after breaking the downward trendline (yellow), the price has reached a specific demand zone (purple box). If valid reversal candles, such as a pin bar or engulfing candle, are observed in this zone, a buy trade can be initiated. It is expected that, by holding this zone, the price will start an upward move, breaking through Fibonacci levels and reaching the 50% and 61.8% targets. Ultimately, the main target could be near the 78.6% Fibonacci level.
USOIL/ Key Resistance at $76.20 and Bullish Breakout PotentialOil prices are currently below $76.20, a key resistance level, suggesting further downside potential toward support levels at $74.01 and $72.86. However, if the price manages to rise above $76.20, it would signal a shift toward bullish momentum. For confirmation, a close above $76.20 on a 4-hour or daily chart would be necessary to validate the breakout and start a bullish trend. A close above this level indicates the potential for further gains, as the resistance has been overcome.
WTI - The fate of oil with Trump's policies?!WTI oil is located between EMA200 and EMA50 in the 4-hour time frame and is moving in its upward channel. In case of a downward correction towards the demand zone, the next opportunity to buy oil with a suitable risk reward will be provided for us.
The China National Petroleum Corporation (CNPC) has stated that China’s crude oil production is expected to increase by 1% by 2025, reaching 215 million tons. Additionally, China’s crude oil imports are projected to grow by 1%, reaching 559 million tons.
The CEO of Aramco has noted that robust demand from China will continue to drive global oil demand growth. He predicts that oil demand will rise by 1.3 million barrels per day in 2025.
Donald Trump, the President of the United States, has directed his administration to revoke the “Executive Order on Electric Vehicles.” This move aims to roll back regulations on vehicle emissions and fuel efficiency standards, which he claims unfairly restrict consumer choice.
This directive, part of a broader executive order focused on energy, also calls on regulators to consider “eliminating unfair subsidies and other misguided government interventions that favor electric vehicles over other technologies and effectively mandate their purchase.”
On Monday, President Trump signed several energy-related executive orders, declaring a “National Energy Emergency” and launching measures heavily favoring fossil fuel development and production. These actions are seen as a blow to the energy policies of the previous administration under Joe Biden, which aimed to bolster the renewable energy sector. The new executive orders focus on boosting domestic energy production and lowering consumer costs.
In December, energy prices rose, contributing to overall inflation. Key drivers of the fuel price increases included:
• Colder-than-expected winter weather,
• Supply concerns driven by sanctions and geopolitical conflicts,
• Optimism about demand stimulation from China.
Pilot Company, owned by Berkshire Hathaway, has decided to cease its international oil and fuel trading operations. This decision comes after months of restructuring and the dismissal of many traders.
The President of the Petroleum Association of Japan has stated that despite Trump’s policies, uncertainty remains regarding increased oil and LNG production by U.S. energy developers. He also noted that there is little likelihood of an immediate increase in oil imports from the U.S., as Japan prefers to maintain a stable supply of crude oil from the Middle East, which is more compatible with Japanese refineries.
WTI Oil H4 | Rising into overlap resistanceWTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 77.20 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 78.77 which is a level that sits above the 61.8% Fibonacci retracement and a pullback resistance.
Take profit is at 74.85 which is a pullback support.
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Hellena | Oil (4H): LONG to area of 82.000 (Wave "5"). Colleagues, all trading instruments are behaving extremely unpredictably right now due to the situation with Trump's inauguration among other things.
I see this as an opportunity to redraw the waves.
Apparently now the price is developing wave “4” and will finish it soon. I expect the price to reach the area of 82.000, renewing the high of wave “3”.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Will Trump's policies extend USOIL's decline?USOIL pared recent gains after Trump declared a national energy emergency to boost US oil production and proposed halting Venezuelan oil imports, raising concerns about oversupply. However, ongoing sanctions on Russia and a winter storm disrupting oil production in North Dakota helped limit the downside in oil prices.
From a technical perspective, USOIL dipped following a retracement from the ascending channel's upper bound and resistance at 80.00. The price is approaching the channel's lower bound and support level at 75.00, which coincides with the 38.2% Fibonacci retracement. A rebound above the 75.00 support could prompt a further rise and retest of the resistance at 80.00. Conversely, a break below 75.00 could drive USOIL toward the next potential support and 61.8% Fibonacci retracement near 72.00.
Author: Li Xing Gan, CMT, CFTe,
Financial Market Strategist Consultant to Exness
Bearish drop off pullback resistance?USO/USD is reacting off the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 77.46
Why we like it:
There is a pullback resistance.
Stop loss: 78.83
Why we like it:
There is a pullback resistance level that aligns with the 61.8% Fibonacci retracement.
Take profit: 74.98
Why we like it:
There is a pullback support hat lines up with the 50% Fibonacci retracement.
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WTI tests resistance after bouncing from $75"We will drill, baby, drill"
That's what Donald Trump said yesterday and is what makes me think oil is headed lower in longer-term outlook, or at best upside should be limited in long-term.
In short-term a lot can happen of course, but right now the path of least resistance appears to be to the downside.
WTI has been trending lower in the last few days and broken some important support levels. These levels have turned into resistance. For example: $77.00.
Earlier, prices dipped to test the first major support area around 75.00, and it bounced from there. But thanks to Trump's bearish oil policy, we could see the selling resume.
At the time of writing, WTI was testing another broken support level around the 75.80 to 76.05 area. Will we see the sellers return here?
By Fawad Razaqada, market analyst with FOREX.com
Moustafa! WTI Crude Oil to surge up still to the upside 21.01.25* Broke the weekly and the daily descending line and made already the pullback and intends currently to settle on and bounce from to the upside towards the mentioned TPs
* You can enter from the current level at 76,480 or you could wait till 75,059 so you can decide according the price action you follow.
Note:
My ideas are exclusive to myself only and is not regarded as an advice for traders or investors and are not more than personal thoughts which I just wanted to share with you all and I do hope they could help.
I am not selling any signals and I do not take money favour any trades recommendations. They are free of charge all lifelong but I keep the copy rights of them though to not be copied or shared or sold.
CrudeOil Slips Amid Anticipation of Trump's Energy Policy ChangeCrude Prices Decline on Expectations of Trump's Energy Policy Shift
Crude oil prices fell early Monday, driven by expectations that U.S. President-elect Donald Trump may ease restrictions on Russia's energy sector as part of a potential deal to resolve the Ukraine conflict.
Brent crude dipped 0.3% to $80.54 per barrel, while West Texas Intermediate (WTI) crude slipped 0.5% to $77.53 per barrel as of the latest data.
Trump, set to be inaugurated on Monday, is anticipated to announce policy changes, including lifting the moratorium on U.S. liquefied natural gas export licenses, according to a report by Reuters.
USOIL Technical Analysis
Crude oil remains under bearish momentum while trading below $77.94. A decline to $75.35 is expected, with further downside toward $72.75 if $75.35 is breached.
Key Levels
Pivot Line: $77.45
Resistance Levels: $79.00, $81.00
Support Levels: $75.35, $74.15, $72.75
Trend Outlook
Bearish: While below $77.94
Bullish: Above $77.94
USOIL... time to short now? what's next??#USOIL.. market just make his today selling pattern and it should hold this now for taking a short dip.
keep close it and if market hold his today pattern then it should go further down.
don't be lazy here.
good luck
trade wisely
Oil correction continuesDuring his inauguration address early yesterday evening, President Donald Trump declared that he was calling a national energy emergency, aimed at raising fossil fuel production. This did little to support the price of crude. Although in fairness, it appears that the market had anticipated something along those lines, as the sharpest part of yesterday’s sell-off came over three hours earlier. Crude managed a brief bounce overnight, as the new president signed a stack of executive orders. But the selling has continued this morning, taking front-month WTI back down to levels last seen eleven days ago. Mr Trump’s full-throated yell for US producers to: ‘Drill, baby, drill!’ is not new. And it’s perfectly logical that prices should fall at the prospect of increased supply. But producers are highly price-sensitive, and there comes a time/price where it’s uneconomical to raise production. In the meantime, crude is undergoing an overdue downward correction following a sustained rally since early December. Traders will have to see how far and how protracted this correction turns out to be. There’s some early support just south of $75. This marks the 38.2% Fib retracement of the 6-week rally. The 50% retracement comes in around $73.40. Whatever happens from here, the daily MACD needs to reset at less-overbought levels. So, the sell-off may continue for a while yet.
Us Oi moveUS oil is bullish untill not break the trendline, It's is taking support of trendline on daily timeframe, if it breaks the Trend line then another trendline will be support. Here are the levels as per price action.
Note: I am not SEBI REGISTERED analist, this is my personal view only for education purpose.
Bullish rise?WTI Oil (XTI/USD) is falling towards the pivot which has been identified as a pullback support and could rise to the 1st resistance which aligns with the 50 Fibonacci retracement.
Pivot: 78.08
1st Support: 77.07
1st Resistance: 79.18
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US WTI Crude and a triangle patternCrude is following a triangle pattern in the weekly time frame, retraced back in the monthly inside bar level, got the resistance from the higher tl in 1H tf, a HH pattern, also broken the lower HH tl, now trying to take support at a different angled tl, within the 1H inside bar ,also giving the 12M and monthly levels for the crude
will add all the important patterns followed by crude as and when required in different tfs
WTI CRUDE OIL This pull back is the best buy opportunityWTI Crude Oil is on the pull back after a Resistance Zone (1) rejection.
The Rising Support trend line is parallel to the MA50 (1d) and a 0.5 Fibonacci test would be the most effective buy entry.
So far this resembles the January 29th 2024 rejection.
Trading Plan:
1. Buy on the 0.5 Fib.
Targets:
1. 86.50 (Resistance Zone 2).
Tips:
1. The RSI (1d) also shows similarities with the Jan 29th 2024 rejection, supporting our expectation of a MA50 (1d) bounce.
Please like, follow and comment!!
USOIL Trade LogUSOIL Short Trade Setup 🚨
- Instrument: West Texas Oil (USOIL)
- Timeframe: 1-Hour
- Risk: Between 1% and 2%
- Risk-Reward Ratio: 1:2 minimum
Key Technical Analysis:
1. Price has formed a clear reversal structure accompanied by a rejection off the monthly Kijun level .
2. A 1-hour Fair Value Gap (FVG) provides a potential entry point with a confluence of the Kijun 1H level.
3. The setup is in alignment with a broader bearish sentiment due to macroeconomic influences.
Fundamental Confluence:
- Recent announcements signal a ceasefire in the Middle East , reducing geopolitical oil supply risks.
- Trump's statement regarding plans to increase oil drilling has heightened expectations of increased supply, potentially pressuring prices downward.
Trade Plan:
- Entry: Within the 1H FVG zone upon bearish confirmation.
- Stop Loss: Above the 1H FVG's upper boundary.
- Take Profit: At least twice the stop-loss distance for a 1:2 RRR.
Risk Management:
Ensure strict adherence to the 1%-2% risk allocation. Always consider market volatility before executing trades.
This setup offers a balanced technical and fundamental perspective. Keep in mind, the market can always surprise you. Stay disciplined!
