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WTICOUSD trade ideas

USOIL POSSIBLE SELL?The market is currently testing the current Weekly area. Based on Daily TF, the market seems to be forming a possible reversal pattern which could lead to a possible reversal. We could see SELLERS coming in strong should the current level hold. Disclaimer: Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account. High-Risk Warning Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
FOREXCOM:USOILShort
by WiLLProsperForex
USOIL - The current price of USOIL (Crude Oil) is 78.20, presenting a favorable opportunity to buy. Based on technical analysis, we have identified two target levels for this trade. The first target is 79.00, offering a reasonable profit, while the second target is set at 79.90 for a more significant return. To protect your position, it is essential to set a stop-loss (SL) at 77.10. This ensures that if the market moves against you, your potential losses are limited. Risk management is a crucial part of trading, and the stop-loss acts as a safety net to safeguard your investment. The targets are calculated based on current market trends and analysis, reflecting a thoughtful and well-structured trading plan. However, it’s important to acknowledge that market conditions can change rapidly, and no trade comes without risk. Traders are advised to monitor the market closely and adjust their strategy if needed. Staying informed about global news, especially those affecting oil prices, can provide valuable insights to optimize your decisions. In conclusion, buying USOIL at 78.20 with target levels of 79.00 and 79.90, along with a stop-loss at 77.10, offers a structured approach to potential gains. Always trade responsibly and ensure your decisions align with your financial goals and risk tolerance. Patience and discipline remain key to successful trading.
TVC:USOILLong
by EXPERT117Ai
Oil correction continuesDuring his inauguration address early yesterday evening, President Donald Trump declared that he was calling a national energy emergency, aimed at raising fossil fuel production. This did little to support the price of crude. Although in fairness, it appears that the market had anticipated something along those lines, as the sharpest part of yesterday’s sell-off came over three hours earlier. Crude managed a brief bounce overnight, as the new president signed a stack of executive orders. But the selling has continued this morning, taking front-month WTI back down to levels last seen eleven days ago. Mr Trump’s full-throated yell for US producers to: ‘Drill, baby, drill!’ is not new. And it’s perfectly logical that prices should fall at the prospect of increased supply. But producers are highly price-sensitive, and there comes a time/price where it’s uneconomical to raise production. In the meantime, crude is undergoing an overdue downward correction following a sustained rally since early December. Traders will have to see how far and how protracted this correction turns out to be. There’s some early support just south of $75. This marks the 38.2% Fib retracement of the 6-week rally. The 50% retracement comes in around $73.40. Whatever happens from here, the daily MACD needs to reset at less-overbought levels. So, the sell-off may continue for a while yet.
TRADENATION:WTI
by TradeNation
update usoilHow are you doing with these good markets, friends? Today we have an update oil as well In the past days and weeks I talked about rising from the 69.750 areas as a key to rising when oil was negative on the daily frame negative and we have a rise to the $80 point And we will see more rising with the break of the 72.500 area and indeed we saw this rise as we expected And I told you that it is expected that we will see a decline with reaching this level and indeed today we saw a somewhat violent decline from the small time frames We have two scenarios The first is that the daily time frame is still positive but we will see a decline on the small time frames and this will take us to levels perhaps 73 and rise again The other scenario is if it is broken strongly next week or this week with the weekly closing it will turn into a negative daily frame and we will go to lower areas We will see more decline until 69 You have this chart you can check the break of each line where the market will go
MARKETSCOM:USOILShort
by Indicators1MGGROUP
Oil Heading LowerWe are in the latter stages of a running impulse move-up. However, the move has run into a corrective phase on which I do see it sliding lower to at least 77.35. At this level, I find a cluster of resistance factors that work great to set as a minimum target, which includes 100 equality in depth between waves A and C, as well as having just underneath an unfilled gap, which we might be seeing the price target to fill finally. The most recent price action looks to be contracting in what I suspect is a triangle formation. After enough accumulation has happened I expect to see the break below occur. That is why I've set the entry price right below the second wave of the triangle. Stop is set a few points from the top of the pattern. Thread carefully since I do expect this move to end violently and swiftly, and turn around right afterward to thrust upward once more. It might even be best for some to stay on the sidelines for this drop and wait for the entry to come on the next big move up. Happy Trading :)
OANDA:WTICOUSDShort
by HydraFinance
Crude rally continuesYesterday, front-month WTI reversed an early drift lower and surged to its highest level in six months, coming within 50 cents of $80 per barrel. So much for the expected consolidation, let alone a significant pullback. Crude oil is on course for a month’s-worth of back-to-back weekly gains, which is quite the recovery given the near-relentless selling pressure witnessed since April last year. It certainly appears that oil prices are breaking out of their long-term downtrend. But it could be that WTI’s first significant test is coming, with the possibility that $80 holds as resistance. If so, a failed break above this level could be the trigger for an overdue pullback. If so, the nature of this pullback should provide clues as to whether the rally can continue, or if that’s all the market can give. As things stand, the daily MACD is looking very extended to the upside. While this suggests that momentum still points higher, this is also pushing into an area from where reversals begin.
TRADENATION:WTI
by TradeNation
Will US sanctions on the Russian oil industry continue to drive Oil prices surged to their highest point in five months following the US announcement of its intention to impose stricter sanctions on Russia's oil industry. Countries like China and India, previously reliant on Russian crude oil imports, are actively pursuing new sources of oil supply in the Middle East and Africa. Furthermore, the substantial surge in demand for heating oil, driven by the cold spell sweeping across the US and Europe, is likely to exert consistent upward pressure on oil prices. USOIL sustains an uptrend and continues to test 77.00. Both EMAs are widening the gap and showing strong bullish momentum. If USOIL breaches above the current high of 77.80, the price could gain upward momentum toward 79.80. Conversely, if USOIL breaks below its support at 74.30 and EMA21, the price may fall further to its following support at 72.00.
TVC:USOIL
by inkicho_exness
WTI Crude Oil Probes Trend Line Resistance at 5-Month HighsChart Analysis: WTI Crude Oil is approaching a pivotal juncture as it tests the long-term descending trendline resistance, while short-term momentum remains firmly bullish. 1️⃣ Downtrend Resistance (Red Line): Prices are testing the multi-month descending trendline resistance near $78. A breakout above this level could signal a shift in the broader bearish structure. 2️⃣ Moving Averages: 50-day SMA (blue): Rising steadily at $70.51, providing dynamic support for the recent uptrend. 200-day SMA (red): Flattening around $75.06, aligning with the key breakout zone. 3️⃣ Momentum Indicators: RSI: At 72.05, indicating overbought conditions, which could precede a short-term pullback. MACD: Bullish momentum is intact, with the MACD line above the signal line and accelerating in positive territory. What to Watch: A sustained break above the descending trendline and the 200-day SMA could pave the way for a test of $82-$85 resistance levels. Overbought RSI warrants caution; traders should monitor for bearish divergences or signs of exhaustion. Failure to break above resistance could see prices retrace toward the 50-day SMA or $74 support. WTI Crude is at a critical crossroads, where a breakout could signal a trend reversal, while failure to sustain above resistance might reinforce the longer-term bearish bias. -MW
TVC:USOIL
by FOREXcom
USOIL The current price of US Oil (USOIL) is 78.00. Based on market analysis, now is a good time to consider selling. Our target price levels for this trade are set at 79.00 and 79.90, indicating potential profit levels if the price moves upward. To manage risk effectively, we recommend setting a stop-loss (SL) at 77.50. This ensures that any unexpected market movements below this level will limit potential losses. The target levels are based on technical analysis and current market trends, making this a well-calculated trade. However, as with all investments, there is inherent risk. Traders are advised to monitor the market closely and adjust their strategy if necessary. Please ensure that your trade aligns with your risk tolerance and financial goals. Regular updates on the market situation may help optimize decision-making. In conclusion, selling USOIL at 78.00 with defined targets at 79.00 and 79.90 and a stop-loss at 77.50 represents a calculated approach to potential gains while managing risk. Always remember to trade responsibly and stay informed. --- Let me know if you'd like any changes!
TVC:USOILLong
by EXPERT117Ai