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WTI CRUDE OIL: Turned bullish again after the 1D MA50 rebound.WTI Crude Oil turned bullish again on its 1D technical outlook (RSI = 59.281, MACD = 0.570, ADX = 33.404) as even though it breached through the 1D MA50 yesterday intraday, it managed to close the day over it and extend today with a green candle. It was not ideal that the rejection on Tuesday took place on the 1D MA200 but yesterday's 1D MA50 rebound has restored the bullish sentiment. We turn bullish again (TP = 80.00) all the way to the one year LH trendline and the 0.786 Fib. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
Holding WTI buys. H4. 10.10.2024🛢 Holding WTI buys On oil in a private channel gave a zone for buying at 72.20. I myself bought a little higher at 72.50, but the accuracy is small, but the result is already there. I will hold the buy until the take profit at 80 with intermediate fixation of 50% at 78. If there will be another escalation of the conflict between Israel and Lebanon on the weekend, as well as natural cataclysms in the USA, it will be a positive signal for oil, as it will prevent the delivery of oil products. So buy hold and squeeze with private channel subscribers with it profit to the fullest. BLACKBULL:WTI
BLACKBULL:WTILong
by KovachTrader
USOIL Rallies, Tensions Rise, Could Price Soar More??Here I have TVC:USOIL on the Daily Chart! Starting with Technical, we can see Price has formed a Double Bottom at a Support Area that's kept Price afloat for quite some years now, but was last visited and acted as Support for Price back in the Spring of 2023! Price has Broke the Confirmation of Pattern @ $72.36 and is now Breaking the Local Falling Resistance from prior July & August 2024 Highs. Regardless, Price Action has Broken Structure and created Higher Highs and Lows, confirming Uptrend, starting with the Higher Low of the Double Bottom on Oct. 1! - Currently we want to see this Bullish Rally continue Breaking Above the Falling Resistance and staying above the ( $71 - $72 ) Range that Price has been interacting with Signaling Bulls in fact are in control, then for a Test of the Break of Confirmation of Pattern and Test of the Break of Local Falling Resistance! * Once successful, we will see Price rise to the next Falling Resistance created from the Highs of Sept. 2023 & Apr. 2024! - Massive Bullish Volume enters on the 2nd Low of the Double Bottom on Oct. 1 - Price on RSI is Above 50 with the Break of the Confirmation of Pattern Now Fundamental, the biggest factor that seems to be at play for TVC:USOIL is all the Geo-political confrontation stirring up. Not only is the Russia/Ukraine war still ongoing, the tensions between Israel/Iran are seeing massive implications across the board! - Oct. 1 being the beginning of the Iran missile attacks on Israel www.tradingview.com - Now worries arise that Iran's Oil Facilities may be in danger as a possible Retaliatory Israeli Strike Target! With Iran eyeing Israel's Energy Infrastructure, Power Plants, Refineries and Gas Fields! www.tradingview.com * Oct. 7th is the Year Anniversary to the Israel/Hamas conflict and suspicions arise that we could be looking at things intensifying further!
TVC:USOILLong
by Novi_Fibonacci
Continue to short crude oilWTI crude oil was trading around $73.35 on Wednesday. WTI crude oil prices fell slightly on reports that Hezbollah and Israel may cease fire. However, concerns about possible attacks on Iran's oil infrastructure may limit its downside. From the daily chart level, the medium-term trend of crude oil is that the price crosses the moving average system, and the original medium-term objective trend changes downward to a conversion rhythm, and the bullish momentum is strong. From the subjective trend, the current trend is still in the secondary rhythm adjustment range. According to the law of alternation between primary and secondary, the subjective trend still maintains a downward rhythm. Pay attention to the medium-term key resistance of 78.40. If it breaks through, the medium-term trend will end the decline and gradually enter the rising rhythm. The short-term (1H) trend of crude oil has turned to a downward trend. The oil price crosses the moving average system, and the moving average system has not yet formed a divergent downward arrangement. The short-term objective trend is in a conversion rhythm. In the morning, the oil price fluctuated narrowly around 74, and the bearish momentum was more dominant. Looking at the 4-hour level, the oil price is just supported by the 55-day moving average, and the support effectiveness is high, and the short-term objective trend within the week is still bullish. It is expected that the short-term trend of crude oil will rebound upwards, and the overall trend will be mainly consolidation within the range. Today: Long at 73.80, stop loss: 72.90, target 76.00.
TVC:USOILShort
by q1620q1620
Hellena | Oil (4H): Short to support area at 72.299.Well, colleagues, the price did not stop and continued its upward movement. At the moment, I understand that the price should turn around and start the long-awaited continuation of the downward movement. I believe that wave 2 should end in the area of 79.338 or it has already ended and the downward movement has already started. In any case, I see the first target is the support area at 72.299. This scenario will be canceled by reaching the level of 84.601, as this is the top of the wave “2” of the higher order, which means that the wave movement needs to be reconsidered. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
13
USOILWhat’s Happening with Oil? 🛢️ OPEC+ is maintaining production cuts, which limits supply. Additionally, tensions in the Middle East are causing fears of supply disruptions. Meanwhile, demand in the U.S. remains strong. 📊 In the chart, we can see how oil had a strong upward movement of 16% in just 12 days, then took a breather at its support, which is around its current price. It’s actually healthy for it to pull back a bit, which could set the stage for another rally. 🧐 Here’s a quick summary: In the options expiring in 30 days, we have something interesting! 📈 Calls vs. Puts There’s more interest in calls 318,401 than in puts 228,939, suggesting that most traders expect prices to rise. The P/C ratio of 0.72 tells us the sentiment is positive. But watch out! In the short term, more calls are also being traded, with a volume of 72,197 compared to 39,923 puts. This reinforces the idea that optimism is in the air. 🎯 Key Strikes The 100 strike is full of calls, with 19,403 open contracts. Nobody expects any drops here! 🚀 At the lower strikes like 55, 60, and 65, puts dominate, suggesting that some traders are hedging in case the market drops. 👍 In summary, the market seems optimistic, but some are already taking precautions in case things get tricky. What do you think?
TVC:USOIL
by Mariofxtr
Decision time for crude oilCrude oil was little-changed in early trade this morning, with a slight downside bias. This follows on from Tuesday’s sell-off which saw front-month WTI continue to pull back from Monday’s peak, just above $78 per barrel. This marked a near two-month high for WTI and represented the top of an 18% rally from the lows seen less than a week previously. Just one month before that, front-month WTI had briefly broken below $65 per barrel to mark its lowest level since May 2023. This was also notable for oil being more oversold than in nearly a year, according to the daily MACD. The rally since then has been sharp. While the escalation in hostilities across the Middle East can be viewed as a trigger, crude was already in a very precarious position, with a large number of short sellers weighing on prices. Ultimately, many have been forced to cover, thereby giving additional energy to the rally. Now the market will show us whether it is about to recommence its downside trend, or if the current move is a small pullback before there’s more of a rally. Yesterday the US Energy Information Administration (EIA) announced a downward revision to its outlook for global oil demand, citing weaker manufacturing growth and industrial production from both the US and China. Add in the fact that China is switching away from oil and towards natural gas as an energy source, and it would suggest that crude prices may remain under pressure.
TRADENATIONSB:WTI
by TradeNation
USOIL Will Go Up! Buy! Take a look at our analysis for USOIL. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 74.20. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 77.51 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
ICMARKETS:XTIUSDLong
by SignalProvider
1