USOIL trade ideas
WTI crude consolidation ahead of US Inventory figuresWest Texas Intermediate (WTI) crude futures hovered near $66.30 during Wednesday’s European session, trading in a narrow range as investors awaited the latest US EIA crude inventory report. Market expectations point to a 1.4 million barrel drawdown, which would signal stronger demand and potentially support prices.
However, crude failed to rally despite confirmation of a US-Japan bilateral trade agreement, announced by President Trump via Truth Social. While the deal is seen as a positive for global trade sentiment, broader oil demand concerns persist—especially if US-EU trade negotiations stall, which could dampen growth in major consuming regions.
Conclusion:
Oil markets remain in consolidation mode, with near-term direction likely hinging on EIA inventory results. A larger-than-expected draw could offer upside momentum, but macro-level trade uncertainties continue to cap gains.
Key Support and Resistance Levels
Resistance Level 1: 6830
Resistance Level 2: 6940
Resistance Level 3: 7045
Support Level 1: 6500
Support Level 2: 6435
Support Level 3: 6370
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USOILShort short short !!!
-65.69 TP
-64.72 TP2
As long as it's bearish and doesn't close above the red line, assume bearish. The green dotted lines also can suggest demand zones which could suggest a change in direction (bullish soldiers) will enter the battlefield. Trade with focus and follow your trading plan.
THOUGHTS???????
USOIL POTENTIAL LONG|
✅CRUDE OIL has retested a key support level of 65.00$
And as the pair is already making a bullish rebound
A move up to retest the supply level above at 66.27$ is likely
LONG🚀
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
USOIL H4 bullish upward ⚠️ Disrupted Analysis – WTI Crude Oil (4H Chart)
🔻 Bearish Pressure Re-Entering
Despite a temporary candle breakout, the price failed to sustain above the breakout trendline.
The recent price action inside the orange circle shows lower highs and rejection wicks, indicating bullish weakness.
📉 Potential Breakdown Risk
If the price fails to hold above 66.00, there's a high probability of it breaking below the support area around 64.80–65.00, leading to:
Increased bearish momentum
Retesting lower demand zones, possibly around 63.50–64.00
❌ Resistance Area Still Valid
The Resistance area at 68.00–69.00 remains unchallenged.
The "Target" shown is optimistic under current momentum.
Without strong volume and bullish candles, that target remains unlikely in the near term.
🔁 Disruption Summary
The bullish breakout is likely a false breakout.
Market may be forming a bull trap.
Watch for a clean break below 65.00 for confirmation of a bearish reversal.
USOIL LONG FROM SUPPORT
USOIL SIGNAL
Trade Direction: long
Entry Level: 65.00
Target Level: 66.37
Stop Loss: 64.09
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 2h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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BRENT CRUDE OIL FORMED A BEARISH WEDGE. ANOTHER POSSIBLE DECLINEBRENT CRUDE OIL FORMED A BEARISH WEDGE. ANOTHER POSSIBLE DECLINE?📉
USOIL has been trading bullish within the last couple of days, supported by prospects of tighter supply and an improved demand outlook. US crude inventories dropped last week, which indicates firm demand despite the rising output.
Still, technically, oil looks bearish. It has formed a bearish wedge and is currently testing the former trendline from below. The most probable scenario is that wee see the bearish impulse towards 6,500.00 with further decline. Another option is that the rise will continue towards 6,900.00 level.
OIL: The Chances To Drop Are Growing FurtherOIL: The Chances To Drop Are Growing Further
OIL has days in this zone. Overall it's developing as I explained earlier.
The price increased a bit more than expected but again it's in a strong structure zone and is holding strong.
I think that OIL has to create a better pattern, but overall it looks poised to drop further from this zone with targets 60 and 56
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
WTI Oil H4 | Falling toward a multi-swing-low supportWTI oil (USOIL) is falling towards a multi-swing-low support and could potentially bounce off this level to climb higher.
Buy entry is at 64.84 which is a multi-swing-low support that aligns closely with the 61.8% Fibonacci retracement.
Stop loss is at 61.80 which is a level that lies underneath a multi-swing-low support.
Take profit is at 69.36 which is a swing-high resistance.
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USOIL: Next Move Is Up! Long!
My dear friends,
Today we will analyse USOIL together☺️
The market is at an inflection zone and price has now reached an area around 65.029 where previous reversals or breakouts have occurred.And a price reaction that we are seeing on multiple timeframes here could signal the next move up so we can enter on confirmation, and target the next key level of 65.579.Stop-loss is recommended beyond the inflection zone.
❤️Sending you lots of Love and Hugs❤️
US OIL LONG RESULT Oil price was in a major Ascending Channel side and then created a broadening falling wedge indicating signs to the upside and I executed the short and price moved up as predicted.
Just overextended our TP without taking not of the resistance Trendline and previous supply zone 🤦
Still Closed as a Break Even trade though, but with Bett ler TP estimation could've been a good Trade.
We keep learning and improving together 💪🙏
_THE_KLASSIC_TRADER_.
USOIL Technical Analysis! BUY!
My dear followers,
This is my opinion on the USOIL next move:
The asset is approaching an important pivot point 66.40
Bias - Bullish
Safe Stop Loss - 65.78
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 67.32
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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WISH YOU ALL LUCK
$USOIL: Will we see breakout or breakdown from this wedge? I have been watching the Commodity markets recently keenly to get direction or for market indications. AMEX:GLD , Copper and TVC:USOIL are the big 3 which determines the direction of commodity markets and hence the inflation. Inflation dictates direction of TVC:US10Y , TVC:DXY and hence the Equity markets. So, what are commodity markets telling us? With AMEX:GLD and OANDA:XCUUSD at ATH what does this mean for TVC:USOIL : TVC:USOIL Is in a bearish pattern and no sign of concrete bullish reversal on the commodity. Recently it has shown some signs of strength but still below its 0.5 Fib retracement level which is at 68 and we have time and again said that 0.318 Fib level at 80 $ might prove to be an upper resistance which will be difficult to breakout.
In the recent months whenever TVC:USOIL tries to break out of the 60 RSI sellers came back and pushed the prices down. Currently with RSI at 50 we might have some room for upside. Oil bulls can have a 20% upside in the RSI taking it to 60 which has historically proved to be a resistance. And a 20% upside in price is also possible with price hitting our 0.318 resistance level of 80%. Above that there is limited upside for $USOIL. The downward slopping wedge shown below indicates a breakout might be imminent which might take TVC:USOIL to 80 $ which is our highest target in this range bound market.
In contrast the bull run in other important commodities like AMEX:GLD and COPPER might have some legs as they are showing strength by breaking above the previous ATH. It is always a good idea to buy strength and ATH.
Verdict: TVC:USOIL remains range bound with 55 $ on lower bound and 80 on the upper bound. Commodity bulls can look at AMEX:GLD and OANDA:XCUUSD for better returns.
Crude oil extends fallsThe crude oil market has entered a fragile and uncertain phase, with prices retreating from recent highs. While WTI crude is still holding above the critical $65 mark on a closing basis, it was below this handle at the time of writing. So, the overall tone remains cautious, with a bearish tilt expected to persist in the near term.
Technical Outlook: WTI Breaks Key Support
The WTI crude chart shows a breakdown of a short-term bullish trend line, and lower lows. The price failed to reclaim the 200-day moving average and found strong resistance since. Currently, it is testing support around $65.00. A daily close below this level could trigger further bearish momentum, with the next support zones seen at $64, and then the next round handles below that. $60 per barrel could be reached if the macro backdrop doesn't improve.
Geopolitical Factors: Trump’s Tariff Threats Dismissed
Donald Trump’s threats of 100% tariffs on countries buying Russian oil sparked initial concern but were ultimately shrugged off by the market. Traders interpreted the 50-day delay in enforcement and Trump’s historical pattern of backing off such threats as signs that immediate supply disruptions were unlikely.
OPEC+ Strategy: Supply Returning to the Market
OPEC+ has announced a larger-than-expected production increase of 548,000 bpd for August, with another 550,000 bpd potentially coming in September. This roll-back of earlier voluntary cuts aims to recapture market share, especially as U.S. shale production slows. However, the added supply may cap price gains, particularly as demand is expected to ease after the peak U.S. driving season.
By Fawad Razaqzada, Market Analyst with FOREX.com
WTI Crude Oil Daily Chart Analysis (symmetrical triangle)WTI Crude Oil Daily Chart Analysis
**Trend & Structure:**
* The chart displays a **symmetrical triangle** formation, signaling a **potential breakout setup**.
* Price is currently trading around **\$66.78**, gradually rising from its recent consolidation.
* **Higher lows** and **lower highs** indicate a tightening range, which usually precedes a sharp move.
**Support & Resistance:**
* **Support Zone:** Around **\$65.47–\$66.15**, marked by the 50 EMA and prior price reactions.
* **Resistance Levels:**
* **\$68.95** – Short-term resistance and previous peak.
* **\$72.81** – Strong horizontal resistance.
* **\$77.75–\$80.00** – Projected upper trendline zone of triangle.
**Moving Averages (Bullish Setup):**
* EMA 7: **\$66.15**
* EMA 21: **\$66.14**
* EMA 50: **\$65.47**
* All EMAs are aligned in bullish order (7 > 21 > 50), confirming **bullish momentum**.
**Volume Insight:**
* Volume remains relatively steady; a spike in volume with breakout from the triangle would confirm trend continuation.
**Trade Setup Suggestion (based on chart):**
* **Breakout Buy Idea:** If price breaks above **\$68.95–\$70**, potential upside to **\$77–\$80**.
* **Invalidation:** A break below **\$65** would invalidate the bullish structure.
**Conclusion:**
WTI crude oil is trading within a symmetrical triangle, supported by bullish EMAs and tightening price action. A breakout above \$69 could trigger a bullish rally toward \$77–\$80. Keep an eye on volume confirmation and geopolitical headlines that can impact oil fundamentals.
Bullish bounce off major support?WTI Oil (XTI/USD) has bounced off the pivot which has been identified as a pullback support and could rise to the 1st resistance.
Pivot: 65.72
1st Support: 63.78
1st Resistance: 69.42
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WTI OIL Is it forming a bottom?WTI Oil (USOIL) Has been trading within a Rising Wedge pattern and since June 02, it has turned its 1D MA50 as a Support. Technically the recent 2-week consolidation within the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) is a bottom formation on the Higher Lows trend-line of the Rising Wedge.
As long as the 1D MA50 holds, we remain bullish, targeting $80.00 (Resistance 1). If the 1D MA50 breaks (closes a 1D candle below it), we will take the loss, and turn bearish instead, targeting $60.05 (Support 1).
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CRUDE OIL Bearish Flag Breakout! Sell!
Hello,Traders!
CRUDE OIL is trading in a local
Downtrend and formed a bearish
Flag pattern and now we are
Seeing a bearish breakout
So we are bearish biased
And we will be expecting
A further bearish move down
Sell!
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