Crude Oil | Support Level 62.700-61.700Crude Oil reached support level.
Take Profit : 71.750
Stop Loss : 60.680
WTI trade ideas
Shorting the USOIL Looking at the longer trajectory of the Oil chart, I am not too bullish and optimistic about its future.
Weekly chart reveals it is still trending down in the channel with mid Jan this year giving the bulls a false hope only to falls further south. I expect the price to slightly moves up to the resistance level (OR higher to create a bull trap) at 66.08 before it comes down again. My profit target is around 51.54.
The risk/reward ratio looks good to me. Always have a STOP LOSS no matter how confident you think you are in your charting. IT is still based on probability from historical patterns and it may or may not repeats itself........Nothing is 100% certain in today's volatile market.
Please DYODD
Why Oil Could Gap Down on Monday▫️ Context
Amid ceasefire news 🕊️ and my dissatisfaction 😤 with the previous wave count, I spent 3 hours ⏳ searching for options with a sharp drop on Monday ⬇️.
▫️ What I Found
1️⃣ Complex Wave Count 🧩: To understand the wave logic, zoom in 📊.
2️⃣ Elliott Wave Rules 🧠⚡: Interpreting them correctly is like soldering a circuit board without instructions 🔧.
3️⃣ Why Now? 🌟: It’s nearly impossible during the week (market volatility + time pressure), but weekends are perfect 🛋️.
▫️ Takeaways
→ Glad we held short positions over the weekend 🤞.
→ News is overwhelmingly positive 📰 (but bearish for oil due to tariffs).
→ In a correction, keep positions aligned with the trend.
Short on Oil/Back to 57$ SOONI believe we can continue the retest of previous major support level at 65-66$ and fibonacci 0.618. This major support will be flipped to resistance in my opinion. We can see a significant sell-off back towards the 57$ area and below from this location.
I will be looking to enter a short trade from the 0.618 region/66$ if there is a rejection.
My mid-term/end-of-year prediction for US OIL is between 45-50$ and possibly lower.
If you believe in the fundamentals and idea of this setup, feel free to follow and use it.
Not financial advice.
WTI crude about to resume lower?WTI formed a large bearish engulfing candle on its daily chart yesterday near the key $65 resistance level. Was that an indication that prices have ended their corrective bounce? Time will tell, but today's oil prices have bounced back. With the trade uncertainty in the background, demand concerns remain high.
So, I wouldn't be surprised if prices were to resume lower from here. The trend is clearly bearish with the moving averages all pointing lower, not to mention the lower highs and lower lows.
If the selling resumes, watch for possible bounces at the next key round handles like $62, $61 and $60. But there is always the possibility of a sweep below this month's earlier lows if macro concerns intensify.
Meanwhile, the bullish idea is off the table for me for now until we see some progress in US-China trade talks at least, or if prices show a major bullish reversal signal.
By Fawad Razaqzada, market analyst with FOREX.com
USOILUSOIL price is near the support zone 62.10-60.89. If the price cannot break through 60.89, it is expected that in the short term there is a chance that the price will rebound. Consider buying in the red zone.
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Join me in being bearish on crude oil
Dear traders, remember to bask in the sun when your mood is moldy. Throw away what you should throw away, and don't think about the people you have missed. Life is boring, so make yourself relaxed and happy.
Crude oil has been running up recently. Yesterday, the daily line had a technical retracement under the pressure of 65.00. Today, we are still bearish. Let's continue to go short on the rebound. There is still a lot of room for crude oil shorts to fall. Today's crude oil rebounded near 64.00. If it breaks below 60.00, it will open up a new space for a big drop. The recent data and fundamentals of crude oil are suppressing it. Bulls predict a big rebound today.
Fundamental analysis
Operational suggestions
Crude oil------short near 64.00, target 63.00-62.00
Hello traders, if you have better ideas and suggestions, welcome to leave a message below, I will be very happy
Oil’s Red-Hot Crash: the Iranian Trigger? 🛢️☕ #OilisMyCoffee | 📐 #TechnicalAnalysis
The most frustrating thing is when the market follows the script, but your account is in a drawdown 😭 Corrections are sneaky 🐍 Mid-week, I leaned toward the red scenario 🔴 (see last week’s chart), but the market suddenly shifted to black ⚫️.
Now the uncertainty: How and when will the diagonal end? I see at least 3 scenarios:
🔴 Red
⚫️ Black
🔵 Blue
Waiting for a resolution ⚡️ — so I closed positions ahead of the weekend. Iran negotiations in Rome on Saturday 🤝 With moderate progress, prices might dip slightly before surging upward ahead of a reversal next week.
What will trigger a crash? No clue 🤷 But S&P500 is also eyeing a downside after consolidation 📉 Possible triggers: U.S. market events or global financial shocks dragging oil down without geopolitics.
Weekly results:
➖ -10% on the master account
➖ Oil & gas portfolio yield dropped to 103%
🔥 Sharpest weekly drop in the account’s history
⚠️ Disclaimer:
Our analysis is food for thought 💡, not trading signals 🚫📊.
Trade with a cool head ❄️, a clear plan 📝, and your own analysis 👁️🗨️.
💬 Your predictions?
🔄 Drop your analysis below ➡️: How do you assess risks and opportunities? 🎯
Concerns about demand limit the upside potentialCrude oil lacks upward momentum, with the target pointing to $60.
USOIL
sell@62.8-63.3
tp:61.5-61
I hope this strategy will be helpful to you.
When you find yourself in a difficult situation and at a loss in trading, don't face it alone. Please get in touch with me. I'm always ready to fight side by side with you, avoid risks, and embark on a new journey towards stable profits.
"US Oil Spot / WTI" Energy Market Heist Plan (Scalping/Day)🌟Hi! Hola! Ola! Bonjour! Hallo! Marhaba!🌟
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📍 Thief SL placed at the recent/swing low level Using the 3H timeframe (60.50) Day/Scalping trade basis.
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🏴☠️Target 🎯: 68.70
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Primary and secondary rhythm: sudden drop in crude oil pricesLast week, OPEC announced a new compensation plan to offset previous overproduction. Under the plan, eight affected countries plan to reduce production by a total of 457,000 barrels per day by mid-2026, failing to sustain a short-term rise in oil prices.
Crude oil's short-term trend hit strong resistance near 64.90 and fell, with the decline erasing the gains of the previous three trading days. The MACD fast and slow lines remain within bearish momentum, indicating abundant downward momentum. From the perspective of primary and secondary rhythms, the decline in the North American market yesterday formed a primary downward trend, while the weak rebound in early trading today represents a secondary rhythm. According to the law of primary-secondary alternation, crude oil is expected to continue to decline today, breaking below the 61.50 support level and testing 60.
USOIL
sell@62.8-63.3
tp:61.5-61
I hope this strategy will be helpful to you.
When you find yourself in a difficult situation and at a loss in trading, don't face it alone. Please get in touch with me. I'm always ready to fight side by side with you, avoid risks, and embark on a new journey towards stable profits.
Long trade
30min TF overview
🛢 WTICOUSD – Buy-Side Trade
📅 Date: Thursday, 24th April 2025
🕘 Time: 9:00 AM (New York Time)
📍 Session: London AM
📊 Entry Timeframe: (5m)
Trade Parameters
Entry Price: 63.238
Take Profit: 66.619 (+5.54%)
Stop Loss: 63.036 (–0.32%)
Risk-Reward Ratio (RR): 16.74
Reasoning - Narrative
This WTI Crude Oil long trade was initiated during the London AM session, a time when commodity markets often see increased activity and institutional positioning. The trade followed a sharp reaction off a discounted price zone, which aligned with a previously unmitigated bullish order block on the intraday chart.
Before entry, price performed a liquidity sweep below 63.10, triggering stops from earlier long positions and clearing out sell-side pressure
OIL buy setup H1Hello! Friends,
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USOIL SENDS CLEAR BEARISH SIGNALS|SHORT
USOIL SIGNAL
Trade Direction: short
Entry Level: 64.59
Target Level: 60.50
Stop Loss: 67.30
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 12h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Oil on high time frame
"Regarding WTI oil, the price trend on high time frames is bearish, especially on the daily chart. After completing its pullback on the 4-hour chart, there are indications of further downside potential.
The market's volatility may be influenced by geopolitical tensions and political factors between Iran and the USA, as well as tariff issues. Despite these fluctuations, candle formations suggest the potential for prices to drop towards the $58 zone."
If you require more assistance or have any specific questions, feel free to ask!
WTI Crude 23-Apr 2025WTI showed some move up after some headlines related to sanctions imposed by the US on Iran.
Potential scenarios to monitor:
• The inability to sustain a move above the $65 level may suggest that bullish momentum remains limited, which could potentially open the door for a revisit of the previous support area near $55.
• A confirmed move and stabilization above the $65 mark may indicate scope for a continued recovery toward the $72 area.
• Around the $72 level, price action may face a decision point — a lack of further upward momentum could see a pullback toward $65, while sustained buying interest might support a move toward the $80 area.
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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. easyMarkets 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.
WTI Crude Oil oversold bounce back resistance at 6600WTI Crude Oil is showing bearish sentiment, in line with the current downtrend. Recent price action appears to be an oversold bounce back. A break below a key consolidation zone, could add pressure to the downside.
Key Levels:
Resistance: 6600 (former support, now resistance), 6670, 6750
Support: 6323, 6165, 6045
Bearish Outlook:
Price has broken below 6600, which was a key intraday consolidation level. If WTI sees a short-term bounce but fails to break above 6600, it could resume its downward move toward 6323, then 6165, and possibly 6045 over time.
Bullish Scenario:
If WTI breaks above 6600 and closes above it on the daily chart, the bearish setup would be invalidated. This could open the door for a short squeeze rally toward 6670, then 6760.
Conclusion:
The trend remains bearish below 6600. A rejection at this level would reinforce the downside bias. However, a confirmed break and daily close above 6600 would shift the outlook to bullish in the short term.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Crude Oil Breaks Out — Is $65.5 the Next Wall?Price started its bullish move in the first week of April, and since then, it’s been making higher lows. Today’s candle broke cleanly above a key trendline, and price is now heading toward the $65.5 resistance, which could act as a critical decision zone.
Key Levels:
- Support: Around $63.2
- Resistance: $65.5 (next major wall)
- Setup: Trendline Breakout
What I’m Watching:
When price gets to 65.5, I’ll be looking for:
- A strong breakout (maybe even retest + continuation) to hold my buy
- Or a clear rejection to scale out or re-evaluate
I’m staying patient. I’ve picked my setup and I’m sticking to it — no jumping around. Let’s see how this plays out.
Cheers!
pClem Trades
MAY 1-1-1 TRADING CHALLENGEI’ve been thinking about how messy trading can get.
One day you're watching a video on scalping, the next you're trying to swing trade five different pairs. Then before you know it, your screen is cluttered with a million indicators, your confidence is shot, and your results? Even worse.
So for the month of May, I’m doing something different.
I’m calling it the 1-1-1 Challenge
1 Mentor. 1 Instrument. 1 Setup.
For me, that means:
- I’m sticking with Tori as my mentor. No other videos, no mixed signals.
- I’m focusing only on Crude Oil. That’s my chart, my market.
- And I’m trading only Trendline Breaks. Clean and simple.
That’s it. Pure focus. Pure discipline.
Let’s see what happens when I stop trying to trade everything — and start mastering one thing.
If you’ve been feeling the same kind of overwhelm, maybe this challenge is for you too.
Want to join me in May?
Let’s go all in:
1 Mentor
1 Instrument
1 Setup
I'll be sharing my progress and documenting my journey here. Follow me!
Potential bullish rise?WTI Oil (XTI/USD) has reacted off the pivot and could rise to the 1st resistance which is a pullback resistance.
Pivot: 62.09
1st Support: 58.07
1st Resistance: 66.63
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.
CRUDE OIL (WTI): Long From Support Explained
There is a high chance that WTI Crude Oil will go up
from the underlined key daily support.
As a confirmation, the price violated both a neckline of an inverted
head & shoulders pattern and a resistance line of a falling wedge
on an hourly time frame.
Goals: 63.780 / 64.275
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WTI BUY Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Soars 3% As U.S. Imposes New Iran-Related Sanctions
