WTI/USD on daily
"As mentioned in my recent analysis, the price of oil could potentially surpass $75."
USOIL trade ideas
USOIL: Looks bullish in next few weeksHello,
This chart is bullish if it breaks upwards.
This means market will be volatile.
Happy trading TVC:USOIL
CRUDE OIL // long after correctionThe market has managed to stay above the monthly impulse base (orange), and the weekly/daily has turned up.
The daily has reached the target fibo 138.2 with an impulse, therefore, I expect a countertrend here on H4/H1, and I want to go long after that countertrend breaks.
The target is the monthly breakdown and the daily target fibo 200.
———
EXPLAINING COLORS
Orange lines represent impulse bases on major timeframes, signaling the direction and validity of the prevailing trend by acting as key levels where significant momentum originated.
Level colors:
H4 - aqua
Daily - blue
Weekly - purple
Monthly - magenta
———
Stay grounded, stay present. 🏄🏼♂️
<<please boost 🚀 if you enjoy💚
WTI Crude Oil: Bullish Reversal and Key LevelsTVC:USOIL WTI Crude Oil: Bullish Reversal and Key Levels
Analysis:
The chart displays the 4-hour price action of WTI Crude Oil (TVC: USOIL) with multiple technical indicators and annotations. The price is currently at $74.01, showing a slight decline of 0.35%. The chart includes the following elements:
Price Action and Trend Lines:
The price has been moving within a descending channel, with recent price action suggesting a potential breakout.
There are several horizontal support and resistance levels marked by green and blue dotted lines.
Smart Money Concepts (SMC):
Multiple "Choch" (Change of Character) annotations indicate potential shifts in market structure.
The price is currently near a significant support level around $70.48, suggesting a potential area for accumulation.
ICT Elliott Wave:
The chart shows potential Elliott Wave patterns with Fibonacci retracement levels (0.618 at $72.35 and 0.786 at $72.05) indicating key levels for potential reversals.
Indicators:
RSI (Relative Strength Index): The RSI is at 71.17, indicating overbought conditions but also suggesting strong bullish momentum.
Volume Profile: The volume profile on the right side shows high trading activity around the $70.48 to $74.01 range, indicating strong support and resistance zones.
MACD (Moving Average Convergence Divergence): The MACD histogram shows green bars, indicating bullish momentum.
Buy Strategy:
Entry: $72.05 (near the 0.786 Fibonacci retracement level)
Take Profit 1 (TP1): $74.01 (current resistance level)
Take Profit 2 (TP2): $76.00 (next significant resistance level)
Stop Loss (SL): $70.48 (below the recent support level)
Sell Strategy:
Entry: $74.01 (current resistance level)
Take Profit 1 (TP1): $72.05 (0.786 Fibonacci retracement level)
Take Profit 2 (TP2): $70.48 (recent support level)
Stop Loss (SL): $76.00 (above the next significant resistance level)
Follow @Alexgoldhunter for more strategic ideas and minds
This detailed analysis utilizes Price Action, Smart Money Concepts (SMC), and ICT Elliott Wave strategies to formulate comprehensive buy and sell strategies. The indicators, such as Fibonacci retracement levels, RSI, and MACD, support the analysis and identify key levels for entry, take profit, and stop loss.
Oil shortOil has been ranging since September, this week it broke out to the up side. Price has just reached one of my sell zones.
I have been aggressively trying to short oil and I was stopped out both times.
There is enormous move to the down side on oil and I want in. The first signs of reversal are there, we just need price to develop and violate structures on the lower timeframes.
WTI - Crude Oil in Bullish TrendThis asset can be seen in a bullish trend with RSI showing no divergence on an hourly chart. A trade plan can be put in place to trade this symbol till its resistance zone.
USOIL H1 TRADE SETUP: SELL SIGNAL FROM EXTREME ORDER BLOCK!USOIL H1 TRADE SETUP: SELL SIGNAL FROM EXTREME ORDER BLOCK!
Strategy options:
Smart Money Concept
ICT Concept
Do you agree with this setup? Which strategy do you prefer? Share your thoughts!
#USOIL #OilTrading #H1TradeSetup #SellSignal #OrderBlock #SmartMoneyConcept #ICTConcept #TradingStrategy #FinancialMarkets
WTI Oil H4 | Falling to overlap supportWTI oil (USOIL) is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 72.65 which is an overlap support that aligns close to the 23.6% Fibonacci retracement level.
Stop loss is at 71.10 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level.
Take profit is at 75.13 which is a pullback resistance.
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OIL/US -looking bullish in 1H ChartUS/OIL If you're sharing your analysis or perspective on the 1H chart of US Oil, it's good to add some context to your post to engage your audience. Here's how you could phrase it:
"US/OIL - Looking Bullish on the 1H Chart 📈
The trend is showing strong bullish signals, supported by .
Keep an eye on the resistance at and potential pullbacks to .
What are your thoughts? Are you bullish or bearish on oil right now?"
Would you like help crafting a more technical or casual tone, or even adding visuals to go with your post?
US OilUS Oil - Crude Oil
Completed " 12345 " Impulsive Waves
Break of Structure
RSI - Divergence
Bullish Channel as an Corrective Pattern in Short Time Frame
Change OF Characteristics
usoilit made a cup and handle and there is no divergence so I have put a buy stop if its break out I'm gonna ride in
NEW UPDATE USOIL H1NEW UPDATE USOIL H1
Hello my dear followers today I post my first USOIL H1 chart 📉 on this profile
Keep enjoy my target 🎯
Now USOIL is going down 👇 don't very today we make good profit keep fallowing
Now the price of USOIL 70.51
Entry point 70.51
Target 79.37
STOP 🛑 LOSE 70.79
Keep fallowing me for more updates like this
WTI/OIL Bullish Signal triggered7 days ago my bullish signal for oil triggered and I am now long.Now many new facts are being released that are align with my signals.
I have collected some very important and interpreted them.This will help you also t understand the backrounds. The bullish trend is currently at its weak phase where many false signals are ofcourse potentially possible.
In this phase of the trend I focuse just on risk management(tightenning stops,to breakeven etc.
But also increasing my positions in this phase and sizing them up are also possible.
Later in strong phase of the trend Iwont increase my positions, but I let the profits run.
I marked also Taking profits level for some of you who might are taking profits.
Generally I let the profits run and just cut the losses if necessary.
Important levels I marked in the chart.
Here Important catalysts why I believe Oil will climb up:
1
India Doubles Down on Refining Expansion. India’s state-controlled refiner Bharat Petroleum (NSE:BPCL) announced its plans to invest $11 billion in a new refinery in southern Andhra Pradesh state, adding 180,000 b/d of capacity and an integrated petrochemical plant to meet domestic demand.
France Launches First Reactor of 21st Century. 12 years overdue and four times the originally planned budget with a price tag of €13 billion, the Flamanville 3 nuclear reactor was finally connected to France’s power grid this week, marking the first addition of new nuclear capacity since Civaux-2 in 1999.
👉 Interpretation
France Launches First Reactor of the 21st Century
Key Details:
Flamanville 3 nuclear reactor, costing €13 billion and delayed by 12 years, is now operational.
First new nuclear capacity addition in France since 1999.
Implications for Oil Prices:
Reduced Dependence on Fossil Fuels: As nuclear energy replaces some fossil fuel-generated electricity, demand for oil (particularly fuel oil used for power generation in some regions) could decline slightly in Europe over the long term. However, this effect is minor since most oil demand comes from transportation rather than power generation.
Transition Signals: The operational reactor signals Europe's commitment to energy transition, which may influence long-term sentiment about reduced reliance on fossil fuels.
Neutral Short-Term Impact: Since the reactor serves a domestic market and does not affect global oil supply or demand immediately, the impact on oil prices is negligible in the short term.
India Doubles Down on Refining Expansion
Key Details:
Bharat Petroleum plans a $11 billion investment in a new refinery with a capacity of 180,000 b/d and an integrated petrochemical plant.
Focus is on meeting India’s growing domestic energy demand.
Implications for Oil Prices:
Increased Crude Demand: A new refinery requires crude oil as a feedstock, adding to global oil demand. Once operational, this expansion will support bullish trends in oil prices, especially as India becomes a larger importer of crude.
Focus on Domestic Market: The refinery aims to meet rising domestic consumption, particularly for transportation fuels and petrochemicals, reinforcing India’s growing importance as a driver of oil demand.
Positive Long-Term Outlook: While the refinery won't impact prices immediately, it highlights the bullish long-term demand trajectory for oil in emerging markets like India.
Overall Impact on Oil Prices
Bullish Factors:
India’s refinery expansion indicates long-term growth in oil demand, supporting bullish sentiment.
Emerging markets continue to drive global oil demand, balancing out declines in demand from developed regions.
Neutral or Bearish Factors:
France's new nuclear reactor reflects progress in the energy transition, potentially reducing oil demand in Europe. However, the short-term impact is negligible.
Conclusion
India's refinery expansion supports a bullish outlook for oil prices, complementing bullish signal. While France’s nuclear reactor signals a step toward alternative energy, its impact on global oil demand is minimal and overshadowed by growing energy needs in emerging markets like India. Overall, the developments reinforce a stable to slightly bullish environment for oil prices.
2
Turkey Eyes Maritime Delimitation with Syria. The Turkish government is readying to start negotiations with the new al-Julani government of Syria to delineate maritime boundaries in the Mediterranean Sea, a move that would allow Ankara to ‘increase its area of influence’ in energy exploration.
US to Finance Guyana’s Gas Power Buildout. The US Export-Import Bank approved a $526 million loan to Guyana for the construction of a 300 MW natural gas-fired power plant that would use ExxonMobil’s associated gas production from the Stabroek block, staving off intense Chinese competition.
👉 Interpretation of this news
Here's an analysis of how these developments might influence the oil market Turkey Eyes Maritime Delimitation with Syria
Key Details:
Turkey plans to negotiate maritime boundaries with the new Syrian government led by al-Julani.
The goal is to expand Turkey’s influence in Mediterranean energy exploration.
Implications for Oil Prices:
Energy Exploration Opportunities: If Turkey successfully delineates maritime boundaries, it could lead to new oil and gas exploration activities in the Mediterranean. This would increase the long-term potential for energy supply, but the impact on oil prices would be delayed and dependent on successful discoveries.
Geopolitical Risk Premium: Tensions surrounding maritime boundaries in the Eastern Mediterranean have previously caused geopolitical disputes (e.g., with Greece and Cyprus). The potential for disputes with other nations in the region could add a slight risk premium to oil prices.
No Immediate Impact: Since this development involves negotiations and potential future exploration, it does not have an immediate impact on oil supply or demand.
US to Finance Guyana’s Gas Power Buildout
Key Details:
The US Export-Import Bank approved a $526 million loan for a 300 MW natural gas-fired power plant in Guyana.
The plant will utilize ExxonMobil's associated gas from the Stabroek block, reducing flaring and tapping into a previously unused energy source.
Implications for Oil Prices:
Gas as an Alternative to Oil: Increased natural gas production in Guyana could slightly offset demand for oil in power generation over the long term. However, this is unlikely to significantly impact crude oil demand globally.
US vs. China Competition: The US financing reinforces its influence in Guyana, securing a foothold in the resource-rich region. This limits China's involvement but doesn't directly impact oil prices.
Neutral Impact on Crude Oil: Since this involves natural gas and not oil, the direct impact on crude prices is limited. However, the increased utilization of gas could eventually reduce the flare gas associated with oil production, slightly improving efficiency in Guyana's oil operations.
Overall Impact on Oil Prices
Bullish Factors:
Potential geopolitical disputes from Turkey’s maritime moves could introduce a risk premium into oil prices.
Long-term developments in Guyana's energy infrastructure reinforce stable energy supply, indirectly supporting efficient oil production.
Neutral or Limited Impact:
Both developments are longer-term in nature, with no immediate effect on crude oil supply or demand. The news leans more towards a neutral to slightly bullish influence on oil prices. Turkey’s maritime delimitation talks could introduce some geopolitical uncertainty in the Mediterranean, which may support a minor risk premium. However, neither of these developments directly counters or strongly amplifies your bullish oil signal, which remains supported by other recent market-moving news (e.g., Suez disruptions, Shell refinery shutdown).
3
Shell Shuts Singapore Refinery After Leak. UK-based energy major Shell (LON:SHEL) shut down one of its oil processing units at the 237,000 b/d Pulau Bukom refinery in Singapore after the nation’s Port Authority reported a leak of oil products together with the cooling water discharge.
Mongolia Walks Back France Uranium Deal. The government of Mongolia has retracted the announcement of reaching a $1.6 billion deal with France’s uranium mining giant Orano, marking another odd roadblock on the way towards launching the Zuuvch Ovoo mine, in development since 2013.
👉I nterpretation of this oil trading news:
Here’s how these developments could impact the oil market and your bullish signal on oil prices:
Shell Shuts Singapore Refinery After Leak
Key Details:
Shell has shut down an oil processing unit at the Pulau Bukom refinery (237,000 barrels per day capacity).
The shutdown was caused by a leak reported alongside cooling water discharge.
Implications for Oil Prices:
Tightened Refining Capacity: With one of Asia’s major refining facilities partially offline, there will be reduced supply of refined products like gasoline, diesel, and jet fuel in the region. This could support higher refined product prices, indirectly boosting crude oil demand as refineries aim to maintain supply levels.
Short-Term Supply Disruption: Depending on the duration of the shutdown, the disruption could lead to localized supply shortages and increased imports to meet demand, which is bullish for oil prices.
Environmental and Regulatory Fallout: If the shutdown is prolonged due to environmental regulations or extensive repairs, the market could factor in sustained supply tightness.
2. Mongolia Walks Back France Uranium Deal
Key Details:
Mongolia has retracted its announcement of a $1.6 billion deal with France’s Orano for developing the Zuuvch Ovoo uranium mine.
The project, in development since 2013, faces yet another delay.
Implications for Oil Prices:
Energy Diversification Delays: Delays in uranium mining projects hinder the global transition to nuclear energy, which is seen as a long-term competitor to oil and gas. This keeps oil demand relatively higher in the medium term.
Market Sentiment: Although this news doesn't directly affect oil supply or demand in the short term, it underscores uncertainties in alternative energy projects, potentially reinforcing the importance of fossil fuels for global energy security.
Overall Impact on Oil Prices
Bullish Factors:
The Shell refinery shutdown could tighten regional supply and indirectly boost crude oil demand to support refining operations.
Mongolia's uranium deal setback highlights delays in alternative energy development, indirectly supporting continued oil reliance.
Neutral or Limited Impact:
The uranium deal issue has no immediate bearing on oil markets but contributes to long-term energy security discussions.
Conclusion
The Shell refinery shutdown aligns well with bullish signal, as it adds a layer of supply disruption to the oil market. While the Mongolia news has less immediate impact, it reflects ongoing challenges in energy diversification, subtly reinforcing oil's role in the energy mix. Together, these developments lean towards a supportive outlook for higher oil prices in the short term.
4
All these news matter:
While we got early bullish signals during the last days,now more news are released.Houthi Warfare Drains Egypt Suez Revenue. Egypt reported that its Suez Canal revenues have plunged by 60% year-over-year in 2024 as Houthi maritime warfare cost the North African country at least $7 billion, worsening Cairo’s plight as the Egyptian pound slid to a record low over the past month.
Libya’s Two Governments to End Fuel Subsidies. Libya’s Benghazi government agreed to a proposal from the rival Tripoli government to end fuel subsidies in the war-torn country, with gasoline prices remaining artificially low at $0.11 per gallon, the second-cheapest in the world.
Interpretation of oil trading news today:
Here’s how the two developments could influence the oil market, particularly in light of your bullish signal on oil prices:
Houthi Warfare Drains Egypt Suez Revenue
Key Details:
Suez Canal revenues are down 60% year-over-year due to Houthi maritime attacks.
Losses of $7 billion exacerbate Egypt’s economic woes amid a record low for the Egyptian pound.
Implications for Oil Prices:
Supply Chain Disruption: The Suez Canal is a critical chokepoint for global oil and gas shipments. If Houthi attacks escalate or disrupt transit, it could delay shipments and increase transportation costs, creating upward pressure on oil prices.
Risk Premium: Geopolitical instability in the region adds a risk premium to oil prices, as traders factor in potential disruptions.
Currency Devaluation Impact: The weakening Egyptian pound might not directly influence oil prices, but it reflects economic instability that could worsen if the Suez remains compromised.
Libya’s Two Governments to End Fuel Subsidies
Key Details:
Rival governments in Libya are cooperating to end fuel subsidies.
Gasoline prices, currently at $0.11 per gallon (among the cheapest globally), are set to rise.
Implications for Oil Prices:
Higher Domestic Costs: Removing subsidies could reduce Libya’s domestic fuel consumption, leaving more oil and refined products for export.
Market Balance: Increased exports from Libya could counteract some supply tightness caused by other factors, potentially capping oil price increases.
Political Stability: This rare cooperation between Libya’s rival governments could indicate improving governance, which might increase Libya’s crude production and exports in the long term. This could have a bearish effect on oil prices if the market views it as a stabilizing factor.
Overall Impact on Oil Prices
Bullish Factors:
Suez Canal disruptions and geopolitical instability add to the risk premium on oil.
Supply chain concerns may tighten market sentiment.
Bearish or Neutralizing Factors:
Libya’s subsidy removal could lead to increased exports, easing supply pressures.
What to Watch For:
Suez Canal Traffic: Any further disruptions or escalations in Houthi maritime warfare could amplify bullish momentum in oil prices.
Libya’s Export Trends: Monitor whether Libya increases its crude oil and product exports following the subsidy removal.
In summary, the Suez Canal situation supports the bullish signal you've received, as it poses a significant risk to global oil logistics. Libya’s subsidy removal might introduce a balancing effect but seems less likely to fully offset the bullish momentum from Middle East instability.
More Tensions in the middle east in 2025 building Under Pressure, Iraq to Cut Gas Flaring. Amidst reports that Donald Trump might sanction Iraq’s imports of Iranian natural gas, Baghdad promised to cut flaring volumes by around 20% next year to meet rising demand, expecting to capture more than 85% of associated natural gas production.
Finland Seizes Suspicious Russian Tanker. Finland’s coast guard has boarded and seized the Eagle S tanker carrying Russian oil in the Baltic Sea on suspicion of having caused an outage of an undersea electricity cable connecting Finland and Estonia, investigating potential sabotage.
Beijing Issues 2025 Product Export Quotas. China’s Ministry of Commerce issued the first batch of refined product quotas for next year totaling 19 million tonnes, unchanged year-over-year, with recent changes to the country’s 13% export tax rebate making gasoline and diesel exports sub-commercial.
The news from Beijing about product export quotas and the export tax rebate has several potential implications for the oil market, particularly refined products like gasoline and diesel, which could indirectly influence crude oil prices. Here's a breakdown:
Key Points:
Unchanged Export Quotas (19 Million Tonnes):
The quota is the same as last year, suggesting that China isn't planning a significant increase or decrease in refined product exports.
A stable quota means China's refining capacity and crude oil import needs might not shift drastically in the near term.
Export Tax Rebate Adjustment:
China's 13% export tax rebate on refined products like gasoline and diesel has been adjusted, making exports less profitable or even "sub-commercial" (not economically viable).
This discourages the export of refined products, potentially keeping more supply within China for domestic consumption.
Implications for Oil Prices:
Domestic Market Focus:
If China prioritizes domestic consumption over exports, its domestic demand for crude oil (used to produce refined products) might stay strong. This can be bullish for crude oil prices as China's overall demand remains a key driver.
Global Supply Dynamics:
Reduced exports of gasoline and diesel from China could tighten global supply of these refined products, potentially driving up their prices.
Higher refined product prices could encourage refineries worldwide to increase crude oil processing, boosting crude oil demand.
Market Sentiment:
The market might interpret this as a sign of strong domestic demand in China, which is generally positive for oil prices.
However, if global economic concerns dominate, the muted export quotas might limit the bullish effect.
Oil Price Volatility:
Oil prices could see short-term bullish momentum due to perceived demand strength and tighter refined product supply globally.
Traders might also be cautious, monitoring other factors like global economic data, OPEC+ decisions, and geopolitical tensions.
Conclusion:
This news leans slightly bullish for crude oil, as it signals steady domestic demand in China and potentially tighter global supply for refined products. However, how oil prices react depends on broader market sentiment and other macroeconomic factors. Since you've received a bullish signal on oil, the news could support the signal, but always keep an eye on additional developments and technical confirmations in the market.
WTI - the fate of oil next year!WTI oil is above the EMA200 and EMA50 in the 4-hour timeframe and is moving in its ascending channel. In case of a downward correction towards the zone, the next purchase of oil will be offered with a reward suitable for us.
Analysts believe that the global oil market will be well-supplied in the coming year due to increased oil production from non-OPEC+ countries and limited growth in global oil demand. Despite uncertainties surrounding 2025, experts maintain a cautious outlook on crude oil prices.
By the end of 2024, investment banks projected that oil prices in 2025 would remain around $70 per barrel of Brent.
However, the potential escalation of trade tensions poses a downside risk to prices.
Market observers are aware that oil price forecasts are often inaccurate. Yet, considering current fundamentals and geopolitical developments, experts generally hold a more negative than positive view on oil prices for the next year.
Most analysts and investment banks anticipate a supply surplus in the oil market for 2025, even if OPEC+ adheres to its current plan to reduce production starting in April 2025.
In December, OPEC+ announced a delay in its planned 2.2 million barrels per day production cut from January to April 2025. Additionally, the group extended the timeline for fully reversing these cuts to September 2026.
According to investment banks, while OPEC+’s decision may reduce the anticipated surplus, the market will still experience oversupply.
ING commodity strategists Warren Patterson and Ewa Manthey noted in a recent report: “For now, we forecast the oil market to face a surplus next year, although much will depend on OPEC+’s production policies.”
The International Energy Agency (IEA) has long predicted a significant supply surplus in 2025. In its monthly report, the IEA stated that even if OPEC+ maintains its current production levels throughout 2025, there would still be a daily surplus of 950,000 barrels. If OPEC+ halts voluntary production cuts at the end of March 2025, this surplus could rise to 1.4 million barrels per day.
The IEA also forecasts that global oil demand will increase by 1.1 million barrels per day next year. However, this growth will not be sufficient to absorb the additional supply from non-OPEC+ producers, primarily the U.S., Brazil, and Guyana.
Additionally, weak consumption data from China indicates that demand this year has been below initial projections. OPEC has also reduced its oil demand growth forecasts for 2024 for five consecutive months.
In its December Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) reported that if OPEC+ implements its recent production cut decisions, global oil inventories would rise by an average of 100,000 barrels per day starting in the second quarter of next year.
The EIA further predicted that this inventory increase would exert downward pressure on crude oil prices by late 2025, with Brent prices declining from an average of $74 per barrel in Q1 2025 to $72 per barrel in Q4 2025.
The agency estimates that the average annual Brent oil price in 2025 will be $74 per barrel, down from this year’s average of $80 per barrel. Recent surveys also reflect this trend, as analysts have lowered their oil price forecasts due to weak demand and robust supply growth.
Some experts argue that stricter U.S. sanctions on Iran and heightened geopolitical tensions might support prices early next year. However, overall weak demand forecasts are expected to exert significant downward pressure on oil prices.
China’s accommodative monetary policy could boost its economy and oil demand, but President-elect Trump’s promise to increase tariffs on China poses risks to economic growth, trade, and oil demand. Saxo Bank recently stated that China’s latest economic stimulus measures and the likelihood of further monetary easing could offset the impact of U.S. tariffs in 2025, signaling Beijing’s determination to prevent a severe economic downturn.
WTI OIL Will it hold the 4H MA200 and rebound?WTI Oil (USOIL) almost tested on yesterday's pull-back the 4H MA200 (orange trend-line), following Monday's rebound on the former Lower Highs trend-line. This technical shift from a Resistance level turning Support, signifies the emergence of a new Channel Up pattern, which needs to hold the 4H MA200 in order to materialize the new Bullish Leg to a new Higher High.
The pattern's first Higher High was priced on the 71.45 Resistance (1) and if the current Higher Low holds at the bottom of the Channel Up, we expect an equally powerful Bullish Leg for the next Higher High. However the 1D MA100 (red trend-line) needs to break as it currently poses the strongest Resistance, having rejected the uptrend not just on the Resistance 1 test (December 13) but also yesterday (December 26).
As a result, if this level breaks, we expect the trend to hit at least Resistance 2 with our Target being $72.80.
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USOIL BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
We are going short on the USOIL with the target of 67.01 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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WTI Light Crude Oil (18H) – Technical Analysis1️⃣ Bullish Triangle Pattern
The chart forms a bullish triangle, with higher lows and a descending trendline. This indicates potential accumulation before an upward breakout.
2️⃣ Strong Support Level
The $68-$69 support zone, established in September, has held firm, showing strong buying interest and rejecting further downside.
3️⃣ Broken Resistance Line
The descending trendline has been broken, signaling a shift in momentum toward buyers.
4️⃣ Potential Uprise
The breakout suggests upside potential toward:
🟢 Target 1- $71.23
🟢 Target 2-$73.00
🟢 Target 3-$77.54
Got questions? Let me know!
Macro Drivers to Watch for WTIMacroeconomic Cross-Analysis:
1. Global Oil Supply Dynamics
OPEC+ Production Decisions:
Production Cuts:
If OPEC+ continues or deepens production cuts, expect a bullish reaction in WTI prices. This would align with the bullish OB zone at $69.16–$71.83, acting as a strong support and entry zone for a potential rebound.
Output Increases:
If OPEC+ decides to increase production due to geopolitical pressure or demand concerns, WTI could break below the $69.16 level, leading to a bearish continuation.
US Shale Oil Production:
Higher shale production in response to rising prices could limit WTI’s upside, particularly near the $78.50–$80.05 bearish OB zone.
2. Geopolitical Events
Middle East Tensions:
Escalation (Bullish for Oil):
Any escalation in conflicts involving key oil producers like Saudi Arabia, Iran, or others in the region could lead to supply disruptions. Such events would likely push WTI toward the $74.00 FVG zone or even the $78.50–$80.05 bearish OB zone.
De-escalation (Bearish for Oil):
A resolution or stabilization in these regions would alleviate supply concerns, increasing the likelihood of WTI breaking below $69.16, targeting the $65.19 bullish OB zone.
Russia-Ukraine Conflict:
A prolonged conflict could disrupt global energy markets, particularly if sanctions reduce Russian oil exports. This would support higher WTI prices, making $74.00–$78.50 a strong target zone.
Alternatively, increased Russian exports via alternative channels (e.g., to China and India) could dampen bullish momentum.
3. Demand-Side Dynamics
China’s Economic Recovery:
Bullish Scenario:
If China’s economy recovers strongly, its oil imports will rise significantly, supporting WTI prices and potentially pushing price action toward $78.50–$80.05.
Look for data on industrial production, PMI, and oil import volumes from China.
Bearish Scenario:
A sluggish recovery or further economic weakness (e.g., due to COVID-19 policies or property sector struggles) would cap oil demand, likely leading to WTI testing support near $69.16 or even $65.19.
US and Global Growth:
Strong GDP growth in the US and other major economies (e.g., Eurozone) would boost oil demand, aligning with bullish technical zones.
A global slowdown or recession, however, would reduce demand, increasing the likelihood of a bearish breakdown below $69.16.
4. Inventory and Supply Data
US Crude Oil Inventory Reports (EIA/API):
Lower Inventories:
Unexpectedly low inventory levels indicate strong demand or constrained supply, likely driving WTI prices higher toward $74.00–$78.50.
Higher Inventories:
Rising inventories signal oversupply or weakening demand, increasing the probability of a bearish test of $65.19.
SPR (Strategic Petroleum Reserve) Releases:
Further releases from the SPR would pressure prices lower, targeting $69.16 or below.
5. Monetary Policy and USD Strength
Federal Reserve Policy:
Hawkish Fed:
A strong USD due to higher interest rates makes oil more expensive for non-USD buyers, pressuring WTI prices lower. This could lead to a breakdown below $69.16.
Dovish Fed:
Rate cuts or dovish guidance would weaken the USD, making oil more attractive globally, supporting WTI’s bullish trajectory toward $74.00 or higher.
BOJ Policy Impact on JPY:
As oil is traded in USD, shifts in major currencies like the yen (JPY) can influence demand. A weaker yen supports USD-denominated oil prices.
6. Market Sentiment
Risk-On/Risk-Off:
Risk-On Environment:
Optimistic market sentiment (e.g., equity rallies, strong growth outlook) supports higher oil demand and prices, aligning with a bullish break toward $74.00–$78.50.
Risk-Off Environment:
A risk-off shift (e.g., due to geopolitical tensions, financial instability) would increase demand for safe havens, potentially pressuring WTI lower to test $69.16 or $65.19.
Speculative Positioning:
COT Reports:
Track speculative net positions in crude oil. A rise in long positions could support bullish moves toward $74.00 and above.
Sentiment Drivers to Watch
OPEC+ Meeting Announcements: Key supply-side drivers.
Global Economic Data: Watch PMI, GDP growth, and industrial output figures.
Geopolitical Updates: Any tensions in key oil-producing regions.
USD Movements: Strong correlation with WTI price action.
Energy Transition News: Long-term focus on renewables could dampen bullish sentiment.
Technical Zones + Macro Alignment
Bullish Entry:
Zone: $65.19–$69.16 (Bullish OB):
Look for confirmation here if macro factors (e.g., OPEC cuts, lower inventories) support a rebound.
Bearish Entry:
Zone: $78.50–$80.05 (Bearish OB):
Short this zone if supply concerns ease, inventories rise, or demand weakens.
Neutral Play:
Monitor price within $69.16–$74.00 for consolidation, driven by mixed macro signals.
Mastering WTI Crude Oil with SMC & ICT Strategies Buy/Sell ZonesTVC:USOIL Mastering WTI Crude Oil with SMC & ICT Strategies: Key Buy/Sell Zones
Analysis:
Price Action Strategy:
Support and Resistance Levels:
Support: Around 69.20 (Equal Lows)
Resistance: Around 70.50 (Swing High)
Trend Analysis:
The price is currently in a downtrend, indicated by lower highs and lower lows.
Candlestick Patterns:
Look for bullish reversal patterns near the support level for potential buy entries.
Look for bearish reversal patterns near the resistance level for potential sell entries.
SMC Strategy:
Liquidity Sweep:
A liquidity sweep is observed around 70.50, indicating a potential reversal zone.
Fair Value Gap (FVG):
An FVG is identified around 69.80, which could act as a magnet for price.
Change of Character (CHoCH):
Multiple CHoCH points are marked, indicating shifts in market structure.
ICT Strategy:
Break of Structure (BOS):
A BOS is noted around 69.90, confirming a bearish bias.
Fibonacci Retracement:
Key levels: 0.786 (70.40719), 0.705 (70.292575), 0.618 (70.16947), 0.5 (70.0025), 0.382 (69.83553), 50.00% (69.57).
Volume Profile:
High volume nodes around 69.57 suggest strong support/resistance.
Buy Signal:
entry: 69.57
tp1: 70.00
tp2: 70.50
sl: 69.20
Sell Signal:
entry: 69.20
tp1: 68.80
tp2: 68.50
sl: 69.57
Follow @Alexgoldhunter for more strategic ideas and minds
WTI OILTrading WTI oil on monthly time frame gives a clue to price action, oil after a dramatic drop in price to 0.24 in 2020 due to demand and supply, oil rally saw it upswing to 128.70k in march 2022 before a sharp rejection by buyers .
OPEC maintains control of price through demand and supply and inventories data print.
US dollar affects oil price ,as a stronger dollar makes oil more expensive for buyers using other currencies, which can reduce demand and lower prices.
the presidency of trump will strengthens the green back which will likely break oil demand floor in coming months.
oil bench mark has been 65k-63k based on demand floor if broken oil could return to 23-30k zone as illustrated on the chart.
OPEC timely price intervention can set up bullish rally for oil as well ,where it will likely break monthly descending trendline to challenge 100k zone
USOIL, might be preparing for a large move. USOIL / 1D
Hello Traders, welcome back to another market breakdown.
The market is showing strong bullish momentum, breaking through key minor resistance levels and signaling a potential continuation to the upside. However, instead of jumping in at current levels, I recommend waiting for the price to show more strength first then for the pullback into the breakout zone for a more strategic entry.
If the pullback holds and buying confirms, the next leg higher could target:
First Resistance: Immediate levels formed during prior consolidation.
Trade safe,
Trader Leo
USOIL TECHNICAL ANALYSIS (READ THE CAPTION)This chart provides a technical analysis of WTI Crude Oil (CL1!) on a 1-hour timeframe. It highlights price action and key support and resistance levels.
Key points
Support and Resistance:
Support: The price has been finding support around the 68.45 level.
Resistance: The 70.60 level has acted as resistance, capping the upside movement.
Potential target: The chart suggests a potential downside target of 68.65.
Entry: Short position at or near the 70.45 resistance level.
Stop-loss: Place the stop-loss above the recent swing high, around the 71.45 level.
Take-profit: Target the 68.65 level.
Trading Strategy
Based on the chart analysis, price action and Technical Indicators a potential short-term bearish trading strategy could be Considered:
Important Considerations
Risk Management: Always use appropriate risk management techniques, such as stop-loss orders, to limit potential losses.
Market Volatility: The forex market is highly volatile, and prices can fluctuate rapidly. Be prepared for sudden price movements.
Fundamental Analysis: While technical analysis is useful, it's important to consider fundamental factors that may impact the price of WTI Crude Oil, such as geopolitical events, supply and demand dynamics, and economic indicators.
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