USOIL - SELL Wait for a break and close below 71.45. This helps confirm the market's direction and minimizes the risk of false breakouts.
WTI trade ideas
US-Oil will further push upside After Testing TrendlineHello Traders
In This Chart XTIUSD HOURLY Forex Forecast By FOREX PLANET
today XTIUSD analysis 👆
🟢This Chart includes_ (XTIUSD market update)
🟢What is The Next Opportunity on XTIUSD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
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USOIL: Weak Market & Bearish Continuation
Balance of buyers and sellers on the USOIL pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the sellers, therefore is it only natural that we go short on the pair.
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US OIL (WTI) - Top Down AnalysisHi Followers,
Apologies for the delay in posting the charts. I am busy in testing and trying couple of things (a strategy and a Trading Style or Type). Let's get into the analysis now.
I have marked the resistance and support levels @ 1D, 4H and 1H. I have used ABCD harmonic pattern, Fib and trendline in y analysis. The chart is at the moment testing an hourly resistance and has tested it twice previously, making that a strong resistance level. I have drawn fib retracement on a downward swing on an entire price range and found out that the price action has tested the resistance twice @ 0.382 level. So, if the price breaks the 0.382 level all the way up to the upper bounds of the resistance zone then according to ABCD harmonic it will be bullish. However, there can be another resistance zone between 0.5 and 0.618 fib levels. My take would be to avoid executing trade on this asset because it is sideways and may give false breakout. It would be relatively safer to execute a sell order rather than a buy order because after testing the marked resistance zone price may bounce back.
CRUDE OIL Short From Resistance! Sell!
Hello,Traders!
CRUDE OIL went up sharply
But will soon hit a horizontal
Resistance level of 72.42$
And from there a local
Bearish correction
Will be expected on Monday
Sell!
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USOIL Will Go Higher! Buy!
Please, check our technical outlook for USOIL.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 71.62.
Taking into consideration the structure & trend analysis, I believe that the market will reach 73.20 level soon.
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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WTIUSDUsoil is amazing right now these 71 to 72s areas are the attack zone, either buys or sells ,simple. Will Election have any impact? Maybe or maybe not...
Continue to short crude oilDear traders, you need to be cautious when trading. You must set stop loss and take profit for each transaction. This can better protect your account from being stuck. I will continue to update the crude oil trading strategy.
API data crude oil inventory is bearish. So far, the market has not responded to the API data. That is to say, the EIA in the evening is also likely to be bearish. The continuous rise in the past few days mentioned yesterday is the abc three waves after the end of the 5th wave. Lao Li re-looked at the market today and saw that it was a 4-wave rise. The US$64.61 is the end point of the main decline of the 3rd wave. The starting point of the three waves is US$79.70. Of course, this number of waves is valid at present. Once the situation in the Middle East continues to escalate, the market will inevitably break through the starting point of the 3rd wave of US$79.70. Therefore, we must follow the real-time fluctuations of the market at any time to update the number of waves in real time. So today, Lao Li will not consider whether the situation in the Middle East will escalate, because we can't know when these guys in the Middle East will make moves again. As soon as we see the news of the start of the fight in the Middle East, we will stop shorting immediately and follow the news to make a short-term long. Therefore, today's idea is still mainly to take risks and short.
1. Go short at $75.30, stop loss 30 pips, take profit $72.50. (Short aggressively at $74.80)
2. Go long at $72.20, stop loss 30 pips, take profit $73.70.
3. If the short position of strategy 1 is stopped out, go short again at $76.15, stop loss 30 pips, take profit $74.
CRUDE OIL RESISTANCE AHEAD|SHORT|
✅CRUDE OIL will soon retest a key resistance level of 72.50$
So I think that the price will make a pullback
And go down to retest the demand level below at 71.35$
SHORT🔥
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WTI CRUDE OIL Every pull back inside this Channel Up is a buy.WTI Crude Oil / USOIL is trading inside a 1hour Channel Up.
Having crossed above the 1hour MA50, it is now expected to support this new bullish wave.
The 1hour MACD is already on a Bullish Cross, confirming the bullish wave.
Buy and target 73.50 (+5.73% rise).
Previous chart:
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WTI Oil H4 | Potential bullish bounceWTI oil (USOIL) ) is falling towards a swing-low support and could potentially bounce off this level to climb higher.
Buy entry is at 69.33 which is a swing-low support.
Stop loss is at 68.46 which is a level that aligns under a pullback support and the 78.6% Fibonacci retracement level.
Take profit is at 71.93 which is a swing-high resistance.
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CRUDE OIL (WTI): Bearish Trend Continues
WTI Crude Oil may continue falling after a test of a key daily resistance.
A breakout of a support line of a bearish flag gives us a strong bearish confirmation.
With a high probability, the price will drop to 68.9 level.
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Bearish drop?WTI oil (XTI/USD) is reacting off the pivot which has been identified as an overlap resistance and could drop to the 1st support level which acts as a pullback support.
Pivot: 71.23
1st Support: 70.03
1st Resistance: 72
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US CRUDE OIL (WTI): Time to SellI spotted a potential short trading opportunity on 📉USOIL. The price has formed a double top pattern after reaching a significant daily/intraday resistance level.
Currently, there is a breakout of the neckline of this pattern. It is likely that the price will decrease to the 68.98 level.
Long term Idea for crude oilIf crude oil breaks above point B ($130) in the AB=CD pattern, it can potentially rise all the way to $200. While this might seem unrealistic at the moment, those who understand the market know that it’s bound to happen sooner or later.
USOIL LongThe first higher high after a downtrend indicates a potential trend reversal to the upside. It shows that buyers are starting to regain control, signaling the possibility of a new bullish trend.
Trendline Break: A break above a significant trendline further confirms the shift in sentiment from bearish to bullish. The trendline break signifies that selling pressure has weakened, and the market is poised for further upward movement.
Retest of Trendline: After breaking the trendline, the price often retests the broken trendline, which now acts as support. This retest offers a low-risk buying opportunity as it confirms the strength of the new uptrend.
WTI update expecting more bearish move before a reversal takes place to the upside hope it hits the support of the channel
CRUDE OIL Bearish Breakout! Sell!
Hello,Traders!
CRUDE OIL is going down
And the price broke the
Key horizontal level
Of 70.40$ so we are
Bearish biased and
We will be expecting a
Further move down
Sell!
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WTI turns sharply lowerCrude oil prices were over 3% higher this week, but as i mentioned in my previous post, the risks remained tilted towards the downside following a 9% drop the previous week. Lo and behold, WTI has now turned sharply lower after testing broken support between $71.50 to $72.50 area in the last couple of days. At the time of writing, it was back to the $70.00 level, which, if breached decisively, could pave the way for more losses in the days ahead.
Middle East tensions have slightly stabilized as Israel has so far refrained from attacking Iran and has said it will not target its nuclear facilities. However, the situation remains volatile due to Israel’s ongoing operations in Lebanon, which has reignited concerns about disrupted oil supply.
Meanwhile, the oil market is also cautious about a possible Trump victory in the US election, as his policy of boosting oil production could lead to oversupply and further price declines.
by Fawad Razaqzada, market analyst with FOREX.com
