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CFDs on WTI Crude Oil

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USOIL trade ideas

Crude turns upCrude prices shot higher overnight following news that OPEC+ has delayed an expected production increase. Both Brent and WTI were up around 3% on the news, even though the announced delay is only for a month. This has taken front-move crude back up to an area of resistance around $71.50-72.00. If it can push above this region convincingly, and then hold it on any pullback, then this starts to improve the immediate outlook as far as the bulls are concerned. The daily MACD has started to turn up a touch, and while it remains in negative territory, this suggests an uptick in upside momentum. There has also been some relief that Iran did not take the opportunity over the weekend to launch an attack on Israel in retaliation for the Israeli attack the week before. Prices had jumped on Thursday evening after Israeli intelligence reported that Iran was planning to attack Isreal from its bases within Iraq.
TRADENATION:WTI
by TradeNation
Oil ShortRound 2 for an oil short Looking to short once oil has closed the gap it made on Sunday. For now oil is in a short term downtrend, if this gap is closed and broken past to the upside then we can expect a more bullish oil in the near future. For now looking at a trendline bounce trade idea. Entry- on the 61.8% Fibo at 70.4 Sl- 65 pips TP- Targeting the 38% of the current fibo structure at 69.15. Confluences: Trendline 3rd touch Key Level 61.8% fibo H6 50EMA (Not strong confluence but its present) Trade safe and catch you later traders ▲
ICMARKETS:XTIUSDShort
by FalkenFx
WTI, back at major order block support -- BOUNCE expectedWTI is currently sitting at below 0.5 FIB level on a weekly data -- a key area where most buyers converge. $65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range. A bounce is expected from current price range. Accumulation has notably started increasing at the present levels. Spotted at 69.0 TAYOR. Safeguard capital always. -------- RELATED NEWS: Reuters Oil prices settle more than 3% higher after China rate cut By Stephanie Kelly NEW YORK, June 13 (Reuters) - Oil prices climbed over 3% on Tuesday on hopes for growing fuel demand after China's central bank lowered a short-term lending rate for the first time in 10 months, boosting crude prices after steep losses the previous session. The rate cut is aimed at adding momentum to a hesitant post-pandemic recovery in the world's second-largest economy and biggest crude importer. Brent crude futures settled up $2.45, or 3.4%, to $74.29 a barrel. U.S. West Texas Intermediate (WTI) crude gained $2.30, or 3.4%, at $69.42 a barrel.
BLACKBULL:WTILong
by JSAL
25
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:USOILLong
by ShahedZare
US OIL (WTI) - Top Down AnalysisHi Followers, Apologies for the delay in posting the charts. I am busy in testing and trying couple of things (a strategy and a Trading Style or Type). Let's get into the analysis now. I have marked the resistance and support levels @ 1D, 4H and 1H. I have used ABCD harmonic pattern, Fib and trendline in y analysis. The chart is at the moment testing an hourly resistance and has tested it twice previously, making that a strong resistance level. I have drawn fib retracement on a downward swing on an entire price range and found out that the price action has tested the resistance twice @ 0.382 level. So, if the price breaks the 0.382 level all the way up to the upper bounds of the resistance zone then according to ABCD harmonic it will be bullish. However, there can be another resistance zone between 0.5 and 0.618 fib levels. My take would be to avoid executing trade on this asset because it is sideways and may give false breakout. It would be relatively safer to execute a sell order rather than a buy order because after testing the marked resistance zone price may bounce back.
GBEBROKERS:USOIL
by MuhammadArif039
Will us-oil rise up ?Hi there ! today we will talk about US-OIL trade . As you can see from this chart , oil market crashed due to the conditions in the middle east and after that it has made complex up down movement near about 70.300. As you can see here that oil made fakeout to the downside and made its upward movement as a valid bullish breakout. So this 70.250 zone seems very important for us to join the bullish momentum . So we can buy from here , our stop loss goes below 69.471 and our take profit target can be set at least 4 times profits which is 74.00. Trade carefully and stay with ligand .
FX:USOILShort
by AHAD_FX
USOil analysis - 23 Oct 202470.7 acts as an important level today & if price stays above this level then we expect it to hit our target profit at 71.75. If price breaks below 70.7 then it should hit 69.7. Below is our recommendation; Trade 1 (Risk 0.5% of your account size); Buy USOil @ 71.00 Stop Loss @ 70.7 Take Profit @ 71.75 Trade 2 (Risk 1% of your account size); Sell Stop USOil @ 70.7 Stop Loss @ 71 Take Profit @ 69.7 *Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
FX:USOILLong
by PalmTreeTradingUK
WTI Oil H4 | Rising into pullback resistanceWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 72.90 which is a pullback resistance. Stop loss is at 74.92 which is a level that sits above the 78.6% Fibonacci retracement level and an overlap resistance. Take profit is at 70.63 which is a pullback support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
WTI rebounds to test key resistanceCrude oil prices have rebounded by over 3% so far this week, though risks remain tilted towards the downside following a 9% drop the previous week. WTI crude has now reclaimed the crucial $70.00 level, but still below the broken support $71.50 to $72.50 area, which it was testing at the time of writing. Middle East tensions have slightly stabilized as Israel has so far refrained from attacking Iran and has said it will not target its nuclear facilities. However, the situation remains volatile due to Israel’s ongoing operations in Lebanon, which has reignited concerns about disrupted oil supply. Meanwhile, China's additional stimulus measures, including lending rate cuts, aimed to revive growth, has also helped to support oil prices, but not significantly so. The market is also cautious about a possible Trump victory in the US election, as his policy of boosting oil production could lead to oversupply and further price declines. From a technical standpoint, WTI remains bearish for now. Significant resistance is seen nears $71.50 to $72.50, while the first line of support now comes in near $70.00 and further support level is seen around $68.00. A potential break below $68.00 could trigger a sharp move down to $65.00, which may not be out of the question given concerns over rising global supply and weakening economic conditions. By Fawad Razaqzada
FOREXCOM:USOIL
by FOREXcom
Crude rallies Crude oil recorded an increasingly rare positive session yesterday, and is on course for another as things stand this morning. Front-month WTI is back above $70 per barrel, and trading at its highest level since this time last week. It is probably far too early to call this latest move uncontestably constructive, given this troubled market. But WTI has put in several higher lows and higher highs since dipping under $65 in early September. The front-month contract really needs to get back above $75 for the pattern to look more bullish, and that requires a rally of at least 5% from current levels. While hostilities across the Middle East have not contributed to any supply interruptions, investors remain mindful that Israel has not yet responded to Iran’s missile attack from several weeks ago. Israeli Prime Minister Netanyahu has said that any response would target Iran’s military, rather than the country’s energy or nuclear infrastructure, and that helped to dampen a brief period of buying pressure. The question now is whether this rally has legs, or if it is yet another mild correction which will simply provide sellers a better entry level. Bear in mind, nothing has changed as far as the outlook for demand growth is concerned. China’s economy remains problematic, while the switch to alternatives, not just renewables, but natural gas and nuclear, is ongoing.
TRADENATION:WTI
by TradeNation