Oil Bulls Watch $67.0 for Breakout ConfirmationFenzoFx—Crude Oil trades slightly above the bullish FVG at $66.5, showing sideways momentum on the 1-hour chart. The $65.5 support is backed by volume interest and could drive prices higher.
If this level holds, bulls may target a retest of the descending trendline. For confirmation, a close above the $67.0 resistance is needed.
Please note that a close below $66.5 would invalidate the bullish outlook.
WTI trade ideas
USOIL Will Go Higher! 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 key horizontal level 67.303.
Considering the today's price action, probabilities will be high to see a movement to 71.215.
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.
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USOIL Under Technical Pressure: 1D Timeframe Breakdown Hey Guys,
The 66.584 level currently stands as the strongest support zone for USOIL. If this level breaks with a candle close, the next major target could drop to 55.666.
This setup is based on the 1-day timeframe. I highly recommend keeping a close watch on that key level.
Every like from you is my biggest motivation to keep sharing these insights. Thanks so much to everyone who’s showing support!
USOIL H4 bullish upward ⚠️ Disrupted Analysis – WTI Crude Oil (4H Chart)
🔻 Bearish Pressure Re-Entering
Despite a temporary candle breakout, the price failed to sustain above the breakout trendline.
The recent price action inside the orange circle shows lower highs and rejection wicks, indicating bullish weakness.
📉 Potential Breakdown Risk
If the price fails to hold above 66.00, there's a high probability of it breaking below the support area around 64.80–65.00, leading to:
Increased bearish momentum
Retesting lower demand zones, possibly around 63.50–64.00
❌ Resistance Area Still Valid
The Resistance area at 68.00–69.00 remains unchallenged.
The "Target" shown is optimistic under current momentum.
Without strong volume and bullish candles, that target remains unlikely in the near term.
🔁 Disruption Summary
The bullish breakout is likely a false breakout.
Market may be forming a bull trap.
Watch for a clean break below 65.00 for confirmation of a bearish reversal.
WTI Oil H4 | Falling toward a multi-swing-low supportWTI oil (USOIL) is falling towards a multi-swing-low support and could potentially bounce off this level to climb higher.
Buy entry is at 64.84 which is a multi-swing-low support that aligns closely with the 61.8% Fibonacci retracement.
Stop loss is at 61.80 which is a level that lies underneath a multi-swing-low support.
Take profit is at 69.36 which is a swing-high resistance.
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Crude Oil -DAILY- 21.07.2025Oil prices were steady after their first weekly decline this month, as attention shifted to U.S. trade negotiations and the European Union’s push to tighten restrictions on Russian energy exports. The EU is preparing new sanctions, including a lower price cap on Russian crude, limits on fuel refined from Russian oil, banking restrictions, and bans targeting an Indian refinery and Chinese firms. Despite western sanctions, Russian oil continues flowing to China and India. Meanwhile, diesel margins in Europe remain strong, signaling tight supply.
On the technical side, the price of crude oil has failed to break below the major technical support area, which consists of the 50-day simple moving average and the 50% of the weekly Fibonacci retracement level. The Stochastic oscillator has been in the neutral level since last week hinting that there is potential for the price to move to either direction in the near short term. On the other hand, the Bollinger bands have contracted rather massively showing that volatility has dried up therefore, the recent sideways movement might extend in the upcoming sessions.
Disclaimer: The opinions in this article are personal to the writer and do not reflect those of Exness
Bullish bounce?WTI Oil (XTI/USD) has bounced off the pivot and could rise to the 1st resistance that is slightly below the 50% Fibonacci retracement.
Pivot: 65.64
1st Support: 60.22
1st Resistance: 71.20
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$USOIL: Will we see breakout or breakdown from this wedge? I have been watching the Commodity markets recently keenly to get direction or for market indications. AMEX:GLD , Copper and TVC:USOIL are the big 3 which determines the direction of commodity markets and hence the inflation. Inflation dictates direction of TVC:US10Y , TVC:DXY and hence the Equity markets. So, what are commodity markets telling us? With AMEX:GLD and OANDA:XCUUSD at ATH what does this mean for TVC:USOIL : TVC:USOIL Is in a bearish pattern and no sign of concrete bullish reversal on the commodity. Recently it has shown some signs of strength but still below its 0.5 Fib retracement level which is at 68 and we have time and again said that 0.318 Fib level at 80 $ might prove to be an upper resistance which will be difficult to breakout.
In the recent months whenever TVC:USOIL tries to break out of the 60 RSI sellers came back and pushed the prices down. Currently with RSI at 50 we might have some room for upside. Oil bulls can have a 20% upside in the RSI taking it to 60 which has historically proved to be a resistance. And a 20% upside in price is also possible with price hitting our 0.318 resistance level of 80%. Above that there is limited upside for $USOIL. The downward slopping wedge shown below indicates a breakout might be imminent which might take TVC:USOIL to 80 $ which is our highest target in this range bound market.
In contrast the bull run in other important commodities like AMEX:GLD and COPPER might have some legs as they are showing strength by breaking above the previous ATH. It is always a good idea to buy strength and ATH.
Verdict: TVC:USOIL remains range bound with 55 $ on lower bound and 80 on the upper bound. Commodity bulls can look at AMEX:GLD and OANDA:XCUUSD for better returns.
USOIL: Bullish Continuation & Long Trade
USOIL
- Classic bullish pattern
- Our team expects retracement
SUGGESTED TRADE:
Swing Trade
Buy USOIL
Entry - 66.40
Stop - 65.95
Take - 67.48
Our Risk - 1%
Start protection of your profits from lower levels
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Crude fall - short termI am anticipating crude to fall these marked levels because:
1. Strong Opening Gap which usually closes after some time
2. Liquidity levels are at the same place as the Opening Gap.
3. Oil price has to fallback a bit more and consolidate a bit more to have a healthy patterns to rise until potential 90.
USOIL Technical Analysis! BUY!
My dear followers,
This is my opinion on the USOIL next move:
The asset is approaching an important pivot point 66.40
Bias - Bullish
Safe Stop Loss - 65.78
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 67.32
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
———————————
WISH YOU ALL LUCK
WTI USOIL As of July 19, 2025, the WTI crude oil price is hovering around $67.342 to $68.83 per barrel after attempting 77.52$ per barrel on Israel Iran conflict in the middle east. As a trader Make out time to look into OPEC WORLD OIL OUTLOOK(WOO) REPORT,SPR REPORT , this woo report provide comprehensive industry forecast and strategic petroleum reserve gives insight into united state energy status.
OPEC meetings are usually held in Vienna and involves discussions and agreement on oil production quotas affecting the global crude oil supply and prices.
oil sharply rose during Israel and Iran geopolitical tension and on the supply roof rejected AT 77.52$ PER BARREL ..
Supply remains cautiously controlled because price is influenced by demand and supply system , but global economic uncertainties and trade tensions, especially involving tariffs and sanctions, continue to influence oil demand expectations.
the US Strategic petroleum reserve (SPR) is the united states emergency crude oil stockpile managed by department of energy ,it act as a buffer to protect against significant supply disruption of oil market, the SPR holds hundreds of millions of barrels of crude oil stored in the underground salt caverns along the gulf coast.it can be tapped to stabilize the market during supply crises or emergencies .
the U.S government occasionally release oil from the SPR to ease supply shortage or control fuel prices coordinated with other countries through the international energy agency if need be.the status and release are regularly monitored as they affect global oil prices and energy security
Am holding WTI OIL low buy and will continue until the break of demand floor and might add more buy if the sentiment holds buy idea.
Trading OIL AND GAS is 100% probability , No one can tell the next crisis and global energy supply disruption.
Manage your risk.
CRUDE OIL BEARISH BREAKOUT|SHORT|
✅CRUDE OIL broke the rising
Support line which is now a resistance
And the price made a retest an a pullback
So we we are bearish biased and we
Will be expecting a further
Bearish move down
SHORT🔥
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BRENT CRUDE OIL FORMED A BEARISH WEDGE. ANOTHER POSSIBLE DECLINEBRENT CRUDE OIL FORMED A BEARISH WEDGE. ANOTHER POSSIBLE DECLINE?📉
USOIL has been trading bullish within the last couple of days, supported by prospects of tighter supply and an improved demand outlook. US crude inventories dropped last week, which indicates firm demand despite the rising output.
Still, technically, oil looks bearish. It has formed a bearish wedge and is currently testing the former trendline from below. The most probable scenario is that wee see the bearish impulse towards 6,500.00 with further decline. Another option is that the rise will continue towards 6,900.00 level.
USOIL Will Go Lower! Sell!
Take a look at our analysis for USOIL.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 67.883.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 62.518 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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WTI Crude Oil ShortWTI Crude Oil – Technical & Macro Outlook
🔻 1. Supply Zone Rejection Expected (66.50–68.00 Range)
Price is currently approaching a newly established supply zone between $66.50 and $68.00, which coincides with a prior consolidation area that preceded the recent sharp sell-off. This confluence enhances the zone’s relevance, especially given its position just below the 0.5 Fibonacci retracement level (~$69.47), derived from the swing high at $75.79 to the swing low.
📌 Outlook:
This region is expected to act as a high-probability rejection zone, likely attracting institutional sell-side interest. Price action within this zone should be monitored for signs of weakness or distribution.
📉 2. Downside Target: $61.50–$63.00 Demand Cluster
Should the supply zone hold, downside momentum could drive WTI toward the $61.50–$63.00 demand range. This area is technically significant, supported by the following factors:
Previous Change of Character (ChoCH) at $63.49, which marked the beginning of the recent bullish correction and represents a key structural pivot.
Presence of stacked demand zones below $64, increasing the likelihood of a meaningful reaction from buyers.
📌 Outlook:
This zone is expected to attract strong buying interest, making it a short-term profit-taking region for bears and a potential entry point for swing long setups, depending on confirmation.
🌍 Geopolitical Risk Landscape & Supply Dynamics
Recent geopolitical developments continue to influence crude oil pricing dynamics:
Middle East instability (e.g., Iraqi disruptions and ceasefire delays) has led to tightened supply conditions, pushing WTI above $67.
Persistent uncertainty stemming from Iranian nuclear negotiations, ongoing U.S.–China tariff risks, and regional tensions contributes to a sustained risk premium.
While OPEC+ is incrementally increasing production, this is offset by rising Saudi exports and weakening demand forecasts, which may result in inventory builds by late 2025.
Russia’s export resilience—bolstered by strategic redirection toward Asia—suggests that any anticipated supply contraction could be less severe than expected.
🛢 WTI at $62 – Technical and Macro Implications
A decline to $62 would place WTI at a major technical support level, closely watched by institutional participants. If tested, the market could react in the following ways:
Bargain hunting and value-based buying may emerge, especially if macroeconomic data aligns with a recovery narrative.
Heightened volatility is likely, driven by sensitivity to any shifts in global risk sentiment—particularly those tied to trade policy, OPEC+ production surprises, or further geopolitical escalations.
📌 Summary
Resistance: $66.50–$68.00 (pre-breakdown supply + 0.5 Fib)
Support / Target: $61.50–$63.00 (demand + structural ChoCH)
Bias: Short-term bearish toward demand, with high reactivity expected near $62
Risk Factors: Elevated geopolitical uncertainty and diverging supply dynamics across OPEC+, Russia, and the U.S.
OIL: The Chances To Drop Are Growing FurtherOIL: The Chances To Drop Are Growing Further
OIL has days in this zone. Overall it's developing as I explained earlier.
The price increased a bit more than expected but again it's in a strong structure zone and is holding strong.
I think that OIL has to create a better pattern, but overall it looks poised to drop further from this zone with targets 60 and 56
You may find more details in the chart!
Thank you and Good Luck!
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