USOIL buys Price has reached the discount level of this recent swing and tapped into a weekly FVG, and an OB inside the FVG giving desired reactions.
Looking to go long on this, already on the first position.
Trade safe🥂
WTI trade ideas
USOIL, might be preparing for a nother 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
WTI Oil has crossed down trend and finished correction
it is target up to 78
keep stop lose and stay safe
Bearish drop?WTI Oil (XTI/USD) is rising towards the pivot and could drop to the 1st support which has been identified as an overlap support.
Pivot: 75.18
1st Support: 72.99
1st Resistance: 76.56
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WTI Oil H4 | Bearish downtrend to extend further?WTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 73.99 which is an overlap resistance that aligns with the 23.6% Fibonacci retracement.
Stop loss is at 75.55 which is a level that sits above the 38.2% Fibonacci retracement and an overlap resistance.
Take profit is at 71.31 which is a pullback support that aligns close to the 61.8% Fibonacci retracement.
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Potential bearish drop?USO/USD is rising towards the resistance level which is an overlap resistance and could reverse from this level to our take profit.
Entry: 75.01
Why we like it:
There is an overlap resistance level.
Stop loss: 76.18
Why we like it:
There is a pullback resistance level that is slightly above the 38.2% Fibonacci retracement.
Take profit: 72.94
Why we like it:
There is a pullback support level.
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OIL POSSIBLE BUY?The market has tested the current Daily area. Based on DAILY and 4HR TF, the market seems to be forming a possible reversal pattern which could lead to a possible continuation to the upside.
We could see BUYERS coming in strong should the current level hold.
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USO USD Oil consider buying. Finally!
USOUSD has opened up in Asia Friday with nice volume and very early a Higher High in price.
There's even a hint of a pullback in price.
USOILUSOIL is in reversaal zone.
Trend will be reversal from here.
Aligator face is open upward which indicates it will go up from here.
we buy at CMP.
USOIL BULLS ARE STRONG HERE|LONG
Hello, Friends!
USOIL pair is in the uptrend because previous week’s candle is green, while the price is obviously falling on the 9H timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 76.57 because the pair is oversold due to its proximity to the lower BB band and a bullish correction is likely.
✅LIKE AND COMMENT MY IDEAS✅
WTI OIL on a Bearish Leg but short-term rebound expected.WTI Oil (USOIL) has been trading within a Channel Up pattern that is unfolding its latest Bearish Leg. This Leg just hit the Higher Lows trend-line from the last bottom, which is so far no different than what took place during the previous Bearish Leg on October 18 2024.
The 4H MACD sequences among the two fractals are very similar so, as the October price action did, we expect a marginal breach of the Higher Lows followed by an instant rebound above the 4H MA50 (blue trend-line) and towards the 0.382 Fibonacci retracement level. As a result our short-term Target is $74.80.
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The Oil price & its pullback is almost ready to turn back around
The only thing I might keep a watchful eye on is the Dollar which now is also puling back but possibly moving higher soon.& hopefully I have a Buy on the daily chart soon on the oil price.
What are traders thoughts about the traditional inverse relationship between oil and the dollar?
What we know is that the Dollar has already made a significant move in it's rally and now it's time for the weekly candle in oil to pump this thing higher.
It won't be as lucrative pulling into a petrol station.
Could the price bounce from here?WTI Oil (XTI/USD) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance.
Pivot: 72.88
1st Support: 71.49
1st Resistance: 75.29
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.
The monthly Oil cycle since April fool's day 2020. Am I a fool?
I will keep this brief as it might be a Fibonacci witch-hunt. The oil bull-run commenced in April of 2020 & that commencement is flagged with a green vertical broken line. Note the Fibonacci zero-level as well from 04/2020 and a trend line extended to oil's high price made in March 2022.
You will see ChartPrime's 'smart money indicator' print a green bullish up arrow (thick) in Oct. 21.
Th monthly chart clearly shows the very bottom AlgoAlpha volume indicator where volume was at a peak coinciding with the higher monthly price around the 1st & 2nd quarters of 2022 and as this indicator turns red on lesser volume we see that monthly candles turn bearish red as you would expect and down price goes to July 2023 which for reference I also denoted with a vertical broken white line.
Did I say something about making this short? I will try & wrap this up.
I continue to be bullish for oil purely from its higher TF charts. Here is why in brief form.:
1. Fib levels are more precise in higher TF's, correct me if I'm wrong? Price is still in the golden zone near 50%.
2. Oil on this chart was in a consolidation period since Sep. 2024 but look what price is doing in the monthly candle we are currently in. I.e.. It is breaking higher. (I picked an oil long trade a few weeks back, around Xmas, check my TV publication if you would prefer)
3. The volume indicator is at the lows of historical volume but Algo' in their instructions state a geen circle print is quite likely a bullish turning cycle in volume. Plus weekly & daily volume is very high.
Look, there's much more indicating another strong run and if and whennprice breaks higher of the Sep '23 candle it will be a huge breakout to test those early 2022 highs. This could coincide with a world recession and a breakout in the oil price.
US OILUS OIL has made a double bottom with bullish divergence. A long position can be considered on the breakout
Bullish bounce?USO/USD is falling towards the support level which is an overlap support and could bounce from this level to our take profit.
Entry: 72.78
Why we like it:
There is an overlap support level.
Stop loss: 71.50
Why we like it:
There is a pullback support that is slightly above the 71% Fibonacci retracement.
Take profit: 75.04
Why we like it:
There is a pullback resistance level.
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update usoilHow are you doing with these good markets, friends?
Today we have an update oil as well
In the past days and weeks I talked about rising from the 69.750 areas as a key to rising when oil was negative on the daily frame negative and we have a rise to the $80 point
And we will see more rising with the break of the 72.500 area and indeed we saw this rise as we expected
And I told you that it is expected that we will see a decline with reaching this level and indeed today we saw a somewhat violent decline from the small time frames
We have two scenarios
The first is that the daily time frame is still positive but we will see a decline on the small time frames and this will take us to levels perhaps 73 and rise again
The other scenario is if it is broken strongly next week or this week with the weekly closing it will turn into a negative daily frame and we will go to lower areas
We will see more decline until 69
You have this chart you can check the break of each line where the market will go
Crude Oil Update – Jan 29📊 Crude Oil FX:USOIL Update – Jan 29
Lol, the market somehow found its way to our buy-zone! 🤔
🔹 The big question now— do we take the trade or wait?
🔹 Ignoring the fundamental report this time, focusing purely on technicals.
🔹 If price dips lower, even better—we’ll get a stronger buy entry. If not, we wait for a clear bullish breakout before making a move.
Keeping a close watch—stay tuned! 👀🔥
Oil analysis before interest ratesIf oil manages to break its downtrend line upwards and exit the channel, it will move towards the specified target.
Oil testing supportCrude prices were a touch softer in early trade this morning. Yet prices for WTI appear to be oscillating around $73.85 – a level which represents the 50% retracement of the rally from early December to the recent high of $80.61. It also marks a point on the downwardly-sloping trendline which was broken above nearly three weeks ago, and is now being retested as support. Could this mark the end of a correction from recent highs? And if so, could that mean that oil is now consolidating ahead of another rally attempt? It’s certainly possible, particularly as the daily MACD has pulled back sharply from the overbought levels seen two weeks ago. But aside from the technical picture, there are plenty of unknowables on the fundamental side. Chief amongst these is what President Trump is going to do about tariffs. Soon after his inauguration, just over a week ago, he threatened 25% tariffs on Canadian and Mexican imports from 1st February, along with a mention of a 10% tariff (down from 60%) on China. On Monday, Scott Bessent was confirmed as the new US Treasury Secretary. He began his appointment by calling for a universal tariff of 2.5% on all imports to the US. This surprised market participants, most of whom had come to expect that tariffs would be threatened/applied on a ‘case-by-case’ basis. As far as oil is concerned, both Canada and Mexico export oil to the US.
USOIL Will Go Higher From Support! Buy!
Take a look at our analysis for USOIL.
Time Frame: 7h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 73.23.
The above observations make me that the market will inevitably achieve 75.54 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
Get set to buy the Oil Price with support on Daily TF.
We have 3 Daily candles adjacent to prior support. I like this zone. I thought Oil was going up a week ago but this i the golden moment coming into play, pull out MACD Zero Lag indicator and lets wait for Signal line have to receive an upwards and bullish cross by the Macd line.
Prefer price action, hey so do I, but my Macd is like a child I care about.
