Expect Oil Consolidation Above $66.8 Post DipThe crude Oil downtrend resumed after it tested the Fair Value Gap at $69. Due to Stochastic's oversold signal, we expect Oil to consolidate above $66.8. Article: fxnews.meShortby FxNews-me0
Buy OpportunityTrade Signal for USOIL (Crude Oil): Entry Price: Buy USOIL at $68.20 1st Take Profit Level: $70.50 2nd Take Profit Level: $74.20 Trade Overview: We are initiating a long position in USOIL at the current price of $68.20. The first take profit level is set at $70.50, followed by a secondary target at $74.20. Please monitor the market closely, and feel free to adjust your positions based on your risk tolerance. As always, manage your trades responsibly.Longby GODOCM2
Crude Oil Alert: Potential Price Drop if $66.40 Support BreaksTechnical Analysis: Bearish Indicators for Crude Oil On the 4-hour chart, crude oil has formed a Head and Shoulders pattern, a classic reversal signal indicating potential downward movement. The neckline is established at $66.40 per barrel. A decisive break below this level could trigger further declines, potentially leading to a significant drop in oil prices. Fundamental Factors Reinforcing the Bearish Outlook OPEC's Demand Forecast Reduction: OPEC has revised its global oil demand growth forecasts for 2024 and 2025, citing economic weaknesses in China and India. This marks the fourth consecutive downgrade for 2024, with demand now expected to rise by 1.82 million barrels per day (bpd), down from the previous forecast of 1.93 million bpd. Saudi Arabia's Reduced Supply to China: Saudi Arabia plans to decrease its crude oil supply to China in December to approximately 36.5 million barrels, the lowest since July, due to weakened demand from the world's largest importer. Saudi Aramco's Profit Decline: Saudi Aramco reported a drop in third-quarter profit to $27.56 billion from $32.58 billion a year earlier, attributed to lower oil prices and weak refining margins. by ClearTradingMind0
WTI Faces Downturn, Key 65.266 Support in FocusHello, BLACKBULL:WTI is facing a downturn, with much of the previous bullish optimism fading. The 1-year low of 65.266 remains a key level to watch, as it could be tested again based on the current market conditions. If WTI manages to break above and hold confidently above the 1D pivot point, it would signal potential for further upside. No Nonsense. Just Really Good Market Insights. Leave a Boost TradeWithTheTrend3344 by TradeWithTheTrend33441
Oil Longs Setting Up?Been pretty bullish on oil for the past couple of weeks. So depending on the price action that forms around this 68.00 price level i might take some oil longs. Plus geopolitical problems are not completely over, things could still happen.Long02:03by adeolol0
China's economic concerns drove oil prices lower Concerns regarding China's oil demand and the dollar's strength have decisively impacted oil prices, driving USOIL down to its lowest since October 29th. China's inflation data reveals significant weakness, intensifying fears of deflation. Additionally, the Trump administration's pressure on China is expected to exacerbate economic challenges for the nation, raising serious concerns about a potential downturn. After breaking the 70.00 threshold, USOIL retreated to 68.00. Both EMAs widen the gap, indicating a continuous bearish momentum. If USOIL breaks the trendline, which has extended since mid-Sep, the price may fall further to this year's low of 64.50. Conversely, if USOIL breaches the resistance at 70.00, where EMA21 coincides, the price could gain upward momentum toward 73.50. by inkicho_exness0
WTI - This Might Get Ugly For The BullsA very bearish scenario is looming for the WTI: After the price was rejected on October 7, 2024 at the 61.8 retracement level of the downward movement between April and September 2024, there is now a threat of a price slide well below the USD 60 mark according to the Fibonacci analysis.Shortby Ochlokrat0
EDUCATION: Simplified Candlestick Psychology (Part 2)In the world of trading, candlesticks are more than just visual representations of price movements—they're windows into the psychology of the market. Every candlestick tells a story, and if you can learn to read it properly, you can understand the underlying emotions of buyers and sellers. Think of it like reading a book, where every candle is a chapter that contributes to the bigger narrative. In the previous video, we went over the anatomy of a candlestick and this time we dive into the psychology behind the Open, High, Low, and Close (OHLC) values on the chart. This way, you can read the market like you would a good book—predicting what might happen next based on what you've already learned. Anatomy of a Candlestick Before we dig into the psychology, let’s first look at the anatomy of a candlestick. A standard candlestick consists of four key components: the Open, High, Low, and Close (OHLC). These are the foundation for interpreting market sentiment. Open: This is where the price started during that specific time period. Close: This is where the price ended at the close of that period. High: This is the highest point the price reached during that time frame. Low: This is the lowest point the price reached. The body of the candle is the difference between the Open and Close. The wicks (or shadows) represent the range from the Low to the High. The bigger the body, the stronger the move in that direction. The longer the wicks, the more indecision and struggle between buyers and sellers. The Psychology Behind the OHLC Now, let’s break down the psychology behind each component of a candlestick. Every candle is a snapshot of the market’s emotion, so understanding the story behind each piece can help you predict future moves. The Open: The Open represents the first battle of the trading session. It shows where the price starts, and it often sets the tone for the rest of the candle. If the market opens higher than the previous candle’s close, it suggests bullish sentiment, while opening lower indicates a bearish sentiment. But don't just focus on the open; its relationship with the close is just as important. The Close: The Close is where the real battle is won or lost. It’s the final decision of the market—did the buyers or sellers win the battle? A close near the high of the candle suggests strong bullish sentiment, while a close near the low indicates bearish sentiment. A close near the open suggests indecision or equilibrium in the market. Traders often view the close as the most important part of a candlestick because it shows the prevailing market sentiment. The High and Low: These two points tell us about the price extremes during the trading period. A long upper wick suggests that the bulls tried to push the price higher but were met with strong selling pressure. A long lower wick shows that the bears pushed the price lower, but the buyers fought back to reclaim some of the losses. A candle with small wicks indicates that the market didn’t have much fluctuation, and the momentum was steady in one direction. The Body: The body of the candlestick is the most visual part, showing the range between the Open and Close. A large body indicates strong momentum and confidence in one direction. A small body, on the other hand, indicates indecision, where neither side has been able to dominate the market. Putting it All Together Now that we understand the anatomy and psychology behind the OHLC, it’s time to combine the elements and read the story. For example: Bullish Candlestick: If a candlestick has a long body with a close near the high and short wicks, it indicates that buyers were in control, and they finished strong. Bearish Candlestick: Conversely, a candlestick with a long body, close near the low, and short wicks shows that sellers were in control. Indecision: A candle with a small body and long wicks on both sides indicates indecision or a battle between buyers and sellers. The market isn’t sure where it wants to go yet. Candlesticks, when grouped together, create patterns that help us predict future price movements. For instance, a series of bullish candles could indicate strong upward momentum, while a few indecisive candles in a row might suggest a potential reversal or consolidation. Practical Takeaways Watch the Close: The close is your primary indicator of sentiment. A close at or near the high (for bullish candles) or low (for bearish candles) can give you confidence in a trade. Long Wicks Mean Rejection: Wicks can show where the price was rejected, which helps identify areas of support and resistance. Don't Ignore Small Bodies: Small bodies with long wicks are signals of indecision. Don’t be too eager to jump into trades after such candles without further confirmation. Reading candles like a book isn’t just about recognizing patterns—it's about understanding the market's emotions and sentiment. Every candlestick is a snapshot of the battle between buyers and sellers, and by learning to read these battles, you can understand the market's story and predict what might happen next. How do you use candlesticks in your trading? Are there certain patterns or setups that you rely on? Share your thoughts below—I’d love to hear how you read the story in the charts!Education10:42by TLTurnerTV1
Crude Oil - LongCrude Oil is trending lower with lower highs and lower lows, though price aggressive bounce backs and retracements indicate a non-trending market. The recent penetration of the 68.00 price level (year to day - low) and retest of the 65.00 level, imply the price is heading lower. However, the price rebounded at the second retest of the level and currently trading at its recent high of 72.00. A further continuation higher is anticipated with the next probable target at 76.00 level where a continuation higher set 78.00 under the scope.Longby Kyriakos_CFTeUpdated 1
USOil - ShortUSOil has shifted its trend from the breakout of HL and a bearish divergence further indicates a possible trend reversal. Adding to it, according to fundamentals a bigger than expected build in USOil inventories causing supply disruptions. Due to which prices may take a dive. Therefore, going Short on USOil.Shortby mustafabaig99Updated 0
Crude oil battle trade:- Crude oil made it todays low and also it breaks previous day low @70.042$ and now it reversed from today low and previous day low above now trading . Crude oil have more potential for upside move for 71.200$ and 71.500$ for a day . Stay tuned with me for more updates and follow me .Longby alokakhil1
Us oil for buy.Price hits a weekly support zone, price bounced 3 times which signals a possible trend change. Wait for a break of the bearish trendline to the upside and a retest. Then long.by makindetoyosi22
Crude oil medium term holdOil has been consolidating for a while now, my view is for it to push down and tag us into our potential trade then anticipate a push towards our TP zone. This might take sometime but it is a good risk to reward return. Key zones are marked out in yellow which might serve as TP zones or entry zones on a break and retest.Longby TheDayTrdr1
USOIL What Next? BUY! My dear subscribers, My technical analysis for USOIL is below: The price is coiling around a solid key level - 70.38 Bias - Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 71.05 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK Longby AnabelSignals112
USOIL BULLS WILL DOMINATE THE MARKET|LONG Hello, Friends! USOIL pair is in the uptrend because previous week’s candle is green, while the price is clearly falling on the 3H timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 72.46 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✅Longby EliteTradingSignals111
Hi, crude is following a pattern could take a support Crude is following a nice pattern also making a triangle pattern in weekly and monthly tf, could try to takes support at the lower tl or triangle low ,will try to give important levels below by omvats1Updated 7
Drill baby, drill - oil price to follow down underground?Predicting the price of oil is risky business.. So many factors at play, and so many factors out of anyone’s control, influenced by world events and the actions of unpredictable players. So do your own research, base your decisions on your beliefs. Here’s my two cents. The US president elect has stated he will open the wells on drilling, fracking and anything else that can produce oil. Increased supply - reduced price. Tension between Iran and Israel will likely soften, in the way that Iran will think twice about retaliating the Israeli attack now that a more direct person is at the wheel in the US. That being said, his takeover is still a few months away, but the sitting President has now nothing to lose. And, we are heading into winter, with reduced gasoline demand. The attached chart shows a horizontal channel, however I don’t think that is relevant in this situation. World events take the driving seat, and I believe oil price will decent going forward.Shortby WeRideAtDawn0
WTI_CO/USDT _ Distribution _ Prices _ Under _ Trading _ Venue _ WTI_CO/USDT _ Distribution _ Prices _ Under _ Trading _ Venue _ OANDA. Note: Prices are not the same as other trading venue. ( Executing the trade with the following venue, OANDA). Quarter _ 4 _ Distribution_ ( Next Prices) prices: $73.319 $73.977 $74.483 $75.129 $76.723 $76.862 From $76.862 will drop to $70.987. After the Retest (Drop_$70.987) The next distribution price = $78.935Shortby Skill-Knowledge-Conduct0
USOIL: Move Down Expected! Sell! Welcome to our daily USOIL prediction! We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 6.976.8$ Wish you good luck in trading to you all!Shortby XauusdGoldForexSignals113
Oil. Short term sell. Long term buy.To $71 - To $68 - To the moon 🌗….. at $68, price could go lower but need to see how price reacts. Ultimately, the bulls will win.. will update. by Brookshot0
Oil on Demand Mode Keep on eye H1 candle movement. When It passes Simple Moving Average 200 and then 50 that means the bullish movement kicks off.Longby karlapermana972
USOIL USOIL: IMO here is the point which the next upward impulse will comes . I want to buy CL with 1% risk . Notice: Use buy stop order to find best price and lowest risk Longby Dellaseno4
USOIL Will Go Lower! Short! Take a look at our analysis for USOIL. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 71.22. The above observations make me that the market will inevitably achieve 66.07 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!Shortby SignalProvider118