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USOUSD trade ideas

WTI OIL targeting the 1D MA200 at $76.50WTI Oil (USOIL) managed to close yesterday above its 1D MA50 (blue trend-line) despite breaking below it intraday. Even if we see a pull-back like September 25-26, Oil is more likely to test the 1D MA200 (orange trend-line) as since the August 12 High, the market is practically ranging between the Support and Resistance Zones. Our Target is $76.50. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
USOIL / TRADING IN SENSITIVE AREA / 4HUSOIL / 4H TIME FRAME HELLO TRADERS Current Price Context: • The price is currently trading within a supply zone defined by the levels of 72.30 and 71.47. This suggests that there is significant selling pressure in this range. Scenario Analysis: • First Scenario (Bullish): If the price breaks above the supply zone (specifically, if a 4-hour candle opens above this range), it is expected to rise towards a higher supply zone between 75.37 and 76.16. This indicates a bullish outlook if the resistance level is overcome. • Second Scenario (Bearish): If the price breaks below the supply zone, it suggests a decline towards a demand line around 69.66, with potential further drops to levels at 68.12 and 66.78. This indicates a bearish outlook if the support level is broken. General Market Condition: • The overall sentiment is described as being under “upward pressure,” suggesting that, despite the current resistance, there is a prevailing bullish trend or sentiment in the market.
TVC:USOILLong
by ArinaKarayi
Could the price reverse from here?WTI oil (XTI/USD) is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 38.2% Fibonacci support. Pivot: 72.44 1st Support: 70.26 1st Resistance: 75.15 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XTIUSDShort
by ICmarkets
WTI is targeting growth again. H4 05.11.2024🛢 WTI is targeting growth again 📈 Oil is looking at a possible pattern for a segment overlap to the upside in which we will again target a major upside. Price is now approaching the control margin at 73 and from there a local correction may be made and then growth will continue. Major volumes have stayed down and have been buybacks. Also OPEC+ have postponed the increase in oil production which will further support it. BLACKBULL:WTI
BLACKBULL:WTILong
by KovachTrader
Oil futures plunged 6% intraday on weak demandConflict in the Middle East has failed to sustain the oil risk premium Despite the ongoing conflict in the Middle East, the crude oil market interpreted the recent events as a step towards de-escalation, leading to a gradual receding of risk premiums in the region. Over the weekend, Israel launched air strikes on missile sites inside Iran, which Iranian authorities claimed caused limited damage. Israel's choice not to target Iran's nuclear facilities or oil infrastructure, coupled with Tehran's restrained response, has led traders to view the likelihood of an immediate escalation of the conflict affecting oil supplies as low. The easing of geopolitical tensions has brought the market's attention back to underlying demand concerns and broader economic factors that continue to weigh on oil prices. Weak demand in Asia and Opec's production strategy Weak global demand has become the main driver of lower crude prices. Opec + has postponed a production increase originally planned for October, rescheduling it for December to avoid pushing prices down further. The alliance now aims to add 180,000 barrels a day by 2025, gradually increasing supply to stabilize prices. On the demand side, the expected growth in global demand, especially in Asia, has not been as strong as expected. With the spread of electric vehicles around the world, analysts warn that it may not significantly boost crude oil demand. Outlook: Short-term bearish on weak demand signals In the short term, oil prices appear to be under pressure from weak demand signals in key markets and little impact from the conflict in the Middle East. With major technical resistance levels and lacklustre demand weighing on the market, traders should expect a bearish outlook for oil prices unless global economic conditions improve or geopolitical tensions escalate, thereby directly threatening oil supply infrastructure. Near-term risks remain tilted toward further declines in crude oil prices as supply concerns fade and demand growth fails to keep pace with expectations. Technical analysis From a daily perspective, WTI crude oil futures prices, after falling to a low of $68.20 at the opening on October 18, rebounded ahead of an uptrend that began on September 10. Given the price action since then, it is clear that there are still plenty of willing buyers out there, despite the constant drumbeat of bearish fundamental news. While the opening gap may be closed in the near future, from a risk-reward perspective, it is best to enter at a lower level when trading long, allowing stops to be placed below the session low or the September 10 uptrend for protection. If that gap were to be filled, that would mean an initial trading target would be Friday's close of $70. After that, if the initial target level is reached, the 50 moving average and resistance above $71.67 are other targets.
TVC:USOIL
by xrrsxrrs
MY TV COMPETITION WTICOUSD LONG IDEA 01/11/2024Direction: Long SL: 66.862 Indicators: 1. MA (20,50,100,200) 2. Trendline - Algo 3. Support and Resistance 4. Fib Level 5. I also use MT5 - Tradingcentral tools Technical: 1. MA 20 Yellow is below the MA 100 and 200 (Purple and Red) but looking for it to reverse and go up and above the 50,100, and 200. 2. Green Trendline was broken recently. 3. Price bounced off from a support zone. 4. FIB level at 0.382. 5. Tradingcentral tool signaling Rise on Time frames 15m,1h,and 4h but it is bearish and signaling DECLINE on daily time frame at the moment. Fundamental and economic: 1. Geopolitical tension is adding some volatility to OIL prices. 2. I use Edgefinder tool which shows me a score of -3 "bearish" on USOIL but I think this trade idea is for short term and more of a "I predict that this might go to xyz based on the technical and fundamental insights". 3. We are in Q4 and usually there is alot of volatility mostly bearish but I'm going against it since we have US elections coming up.
OANDA:WTICOUSDLong
by stingotho
WTI CRUDE OIL: Strong rebound on the 18 month Support.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 53.224, MACD = -0.080, ADX = 22.753) as it rebounded again on the S1 Zone and already reached the 1D MA50. Even though another test of the S1 Zone is possible according to the multiple tests of the May-June 2023 pattern, the upside is more likely to happen eventually through a test of the 1D MA200. Our target is limited however below the LH trendline (TP = 77.50) as we don't yet have valid grounds to extend buying above it. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
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
Oil spikes on escalation fearsCrude oil continues to push up off the lows hit on Tuesday when front-month WTI broke below $67 per barrel for the first time since the beginning of October. Since then, oil has managed to build some upside momentum, although it’s far too early to tell if there’s a definitive change in direction. Nevertheless, things are looking better for the bulls, in some respects. The daily MACD has begun to turn higher, although it still remains in negative territory. Yesterday evening, prices suddenly surged higher in a move which took front-month WTI from $69 to $70.50 in less than an hour. The jump came after Israeli intelligence reported that Iran was planning to attack Isreal from its bases within Iraq. This should keep markets off balance as the weekend approaches. Traders will be on alert over the weekend. And beyond, in the absence of an attack. But it also means that yesterday’s rally is likely to unwind completely should any attack prove ineffectual. Despite this, it is potentially another step up in the escalation of hostilities which is starting to normalise direct military contact between Israel and Iran, rather than with Iran’s proxies.
TRADENATION:WTI
by TradeNation
WTI - How will oil react to the elections?!Oil is located between EMA200 and EMA50 in the 4H timeframe and is moving in its downward channel. If the descending channel is preserved and its ceiling is not broken, we can witness the continuation of the oil decline up to the midline of the descending channel. Breaking the ceiling of the channel and the resistance range will provide the way for oil to rise to $75. A member of Trump’s campaign stated that victory in Michigan and Pennsylvania is nearly certain. Meanwhile, Fox News has predicted that Trump will win the U.S. presidential election. According to information from three informed sources, the United States and Saudi Arabia are in talks for a security agreement that would be independent of any broader agreement with Israel. This agreement is not aimed at achieving a comprehensive defense pact; however, Crown Prince Mohammed bin Salman and the White House wish to reach a security deal before President Biden’s term ends in January. Prior to Hamas’s attacks on Israel on October 7, the Biden administration was in discussions with Saudi Arabia and Israel for a broader agreement that included normalization between Saudi Arabia and Israel. This agreement would have involved a U.S.-Saudi defense pact and civilian nuclear cooperation, which the White House believed had a higher chance of Senate approval. However, the outbreak of conflict in Gaza and Lebanon and Saudi Arabia’s demand for the establishment of an independent Palestinian state delayed these negotiations. Meanwhile, Saudi Arabia’s national security advisor, Musaad bin Mohammed Al Aiban, traveled to Washington last week and met with U.S. national security advisor Jake Sullivan and other officials, including Secretary of State Antony Blinken. Their discussions focused on U.S.-Saudi bilateral relations and a series of security, technological, and economic agreements they aim to sign before Biden’s term ends. This security agreement was separate from efforts for a broader deal that included normalization between Saudi Arabia and Israel. The initial plan is to draft an agreement similar to what the Biden administration has signed with other Gulf countries in recent years. For instance, in March 2022, Qatar was recognized as a major non-NATO ally, and in September 2023, the U.S. and Bahrain signed a comprehensive security agreement. Over the past four years, the Biden administration has sought to curb the growing influence of China and Russia in the Gulf region. U.S. officials have indicated that several countries previously leaning towards China and interested in purchasing strategic systems from Russia have now moved closer to the U.S. The OPEC Secretary-General has stated that the global economy is in good condition and estimates global economic growth at 2.9%. OPEC holds an optimistic view of oil demand in both the short and long term. Although there are challenges, the overall picture is not as negative as some suggest. The OPEC Secretary-General believes that peak oil demand will not occur and that the global economy continues to grow.
TVC:USOILShort
by Ali_PSND