USOIL mostly we go fast up or down beacuse of the news, what will happen if trade wars are over, up to 70+ so hopefully we go back to 55 and then buy ๐ just my thoughts.WTI Light Crude Oil forum
๏ปฟUSOIL mostly we go fast up or down beacuse of the news, what will happen if trade wars are over, up to 70+ so hopefully we go back to 55 and then buy ๐ just my thoughts.
USOIL many Targets on the way down.keep SL tight today.
60.5 Should be a save one.
Wait the breakout!
OIL_CRUDE shift the bias from bearish to bullish for oil...๐๐๐USOIL still forming
USOIL โฝ USOIL Daily Analysis Based on Main Key Levels โ 16th April 2025
Daily Current Market Price (DCMP): ๐ท๏ธ 60.06
Price context: DCMP trades above immediate supports (56.81โ61.05) but below critical resistances (60.15โ68.87).
๐ Key Levels Breakdown
Resistance/Sell Zones (Above DCMP)
R1: ๐จ 60.15 (Price Congestion Zone)
R2: โก 62.58 (Fibonacci 61.8% Resistance)
R3: ๐ฅ 68.87 (Swing High Confluence)
Support/Buy Zones (Below DCMP)
S1: ๐ก๏ธ 56.81 (Dynamic Trendline Support)
S2: ๐ 54.76 (Breakdown Floor)
๐ Technical Analysis Snapshot
Swing Levels:
Swing High: 73.11 (Daily Ceiling)
Swing Low: 68.87 (Daily Floor)
Fibonacci: 50% retracement at 61.47 aligns with consolidation.
RSI: Neutral at 48 (No divergence observed).
MACD: Bearish momentum fading on 4H chart.
๐ก Intraday Trade Setups
Intraday Buy Trade
Entry: ๐ข 56.81 (Retest of Support Cluster)
Stop Loss: ๐ด 54.76 (-2.05 | Below S2)
Take Profit 1: ๐ก 60.15 (+3.34 | R1 Target)
Take Profit 2: ๐ข 62.58 (+5.77 | R2 Breakout)
Intraday Sell Trade
Entry: ๐ด 60.15 (Retest of Resistance Zone)
Stop Loss: ๐ข 62.58 (+2.43 | Above R2)
Take Profit 1: ๐ก 56.81 (-3.34 | S1 Reversion)
Take Profit 2: ๐ด 54.76 (-5.39 | S2 Target)
USOIL 1- We are trading under NWOG: New Week Opening Gap= Bearish bias
2- We closed under todayโs NDOG. New days opening gap and failed to close above even after that 2% rally.
3- failing to close above previous hourly high then we might see trend continuation to the downside.
4- closing over ndog would be dangerous for bears as a short squeeze may occur (highly unlikely with current market conditions especially with a surplus in U.S. crude oil inventory)
5- no bearish signs after the rally yet but may have another explosive move soon
USOIL HeadNShoulders is forming after a bearish pinn-bar-hammer 1 h candle. wait for breakout.
USOIL 1- Build-up in is inventory
2- pice failed to break previous hourly candle high.
3- overall bearish trend
4-we might see another big move to 60 and possibly 59.00
Thatโs my opinion. Would love to to hear you out.
P.s. Iโm not โguessingโ just based on price action
WTICOUSD I believe oil will maintain price action below $62 for now, pending the inventory later. If we show further build, then price should continue down. Also pay attention to all the figures provided. However, demand of things like diesel is below expectation. Trade with caution, we are still very volatile to tweets and news broadcasts around tariffs.
USOIL oil slides and irrationally goes up instead