New To Marking Up OilI just started really marking up Oil. So my confidence is still growing. But Im watching to see if the market breaks this green trend line or respects it.
WTICOUSD trade ideas
Market Retest at 72.09 Before Upward Move to 82.712"The market is expected to drop to 72.09 for a retest before reversing direction and moving upward, potentially reaching 82.712.
usoilusoil will continue up swing based on the structure of the market.
oil is going long dont get it wrong
USOILOIL price to be on the bullish based on the weekly candle breaking long term resistance.
i expect oil to go long, the geopolitical tension in the middle east could set a massive buy rally for usoil.
$20 Spike if Israel Hits Iran’s Oil? The Israeli military warned that its response to Iran’s missile attack would be “serious and significant,” as Goldman Sachs forecasted that oil prices could surge by $20 per barrel if Iranian production is disrupted.
Daan Struyven, Goldman’s co-head of global commodities research, stated on Friday that a "sustained drop of 1 million barrels per day" in Iranian output could lead to a peak increase of $20 per barrel next year, assuming OPEC+ does not immediately boost production, which typically requires time to implement. However, if key OPEC+ members like Saudi Arabia and the UAE step in to offset some of the supply loss, the price impact could be more moderate—around $10 per barrel, Struyven added.
Goldman did not offer a specific price forecast if Israel were to target Iran's nuclear facilities, a scenario raised after Republican presidential candidate Donald Trump suggested such a strike was appropriate to recent missile activity from Tehran.
oil long and shortbullish week last week expect a pull back where bulls will step in trying to push higher expect sellers to enter at the weekly high later in the week tug of war this week
3 points on trendline expect a bounce then to be manipulated before any long buys
week after look to sell on a range at the breakout do the opposite to everyone else your not supposed to win
WTI OIL📊 #WTIUSD
⏱ TIME: 1H
📝Important oil ranges for this week
⭕️risk: mid
📍The initial buying limit: 72$ and 69.7$
CRUDE_OIL - Up movement Hi my friends, I'm observing OIL_CRUDE for a buying opportunity around these two sell areas. They are strong resistance zones and and I think we will see a push back and a change in the direction to the upside to the both potential targets.
Please comment and share your opinion.
USOIL: Short Signal with Entry/SL/TP
USOIL
- Classic bearish formation
- Our team expects fall
SUGGESTED TRADE:
Swing Trade
Sell USOIL
Entry Level - 74.39
Sl - 75.86
Tp - 71.60
Our Risk - 1%
Start protection of your profits from lower levels
❤️ Please, support our work with like & comment! ❤️
Will geopolitical tension support oil prices?
Kazakhstan planned to cut its oil output, while Russia reported lower production in Sep, restricting the supply.
Meanwhile, the heightened geopolitical tension in the Middle East increases concerns over oil production and transport.
At the same time, market participants remain optimistic about the US economy, which could support oil demand. Today's NFP release may provide insights regarding the US job markets.
USOIL has significantly recovered from its low last month. The price retested its support at 67.50 USD per barrel before closing above its psychological support at 70.00 USD per barrel.
If USOIL sustains its upward momentum, the price may retest the following resistance at 75.00 USD per barrel.
On the contrary, USOIL may return to 70.00 USD per barrel if the price retraces before its continuation.
USOIL potential buysThe overall market trend is still bearish. However, the market is currently in a counter trend to the upside.
DanB
USOIL Price Analysis: Double Bottom Breakout Targets $78.37🛢️ USOIL Price Analysis: Double Bottom Breakout Targets $78.37 and $83.67
USOIL (WTI Crude Oil) shows a bullish reversal pattern on the D1 timeframe , with a double bottom breakout signaling potential upward movement. Traders are eyeing key targets, with the first at $78.37 and the second at $83.67 . Here's a breakdown of the setup:
🔍 What is a Double Bottom Pattern?
A double bottom is a bullish reversal pattern that forms after a downtrend. In this pattern, the price hits a support level twice and bounces back. This suggests that sellers have been exhausted, and buyers are stepping in to increase prices. The breakout occurs when the price closes above the peak between the two lows, confirming the pattern.
🚀 Key Price Targets for USOIL
With the double bottom confirmed, here are the following potential price targets:
1. First Target – $78.37:
After the breakout, the immediate upside target is $78.37 . This level is based on a measured move from the bottom of the pattern to the breakout point, giving traders their first profit-taking zone.
2. Second Target – $83.67:
Should the bullish momentum continue, the next target to watch is $83.67 , where further resistance is expected. A move toward this level would signify a more extended upward trend in USOIL.
⛔ Stop Loss – $66.23
To manage risk, traders should consider placing a stop loss at $66.23 . This level is below the pattern's low, where a breakdown would invalidate the bullish outlook and potentially trigger further downside.
📊 Factors Influencing USOIL
Several factors could affect the success of the breakout:
Global Supply and Demand: Changes in OPEC policies, US shale production, and geopolitical tensions can significantly impact oil prices.
Economic Growth: A robust global economy often increases oil demand, increasing prices.
USD Strength: Since oil is traded in US dollars, a stronger dollar can put downward pressure on oil prices, while a weaker dollar may support further gains.
🛠 Trading Strategy
For traders looking to capitalize on this breakout, consider the following:
Entry Point: After the breakout, buying near the current price with targets of $78.37 and $83.67 could provide a favorable risk/reward ratio.
Risk Management: Place your stop loss at $66.23 to protect against unexpected market reversals.
💡 Conclusion
The double bottom breakout on the D1 timeframe suggests that USOIL is poised for a potential rally towards $78.37 and $83.67 , with a protective stop at $66.23 . To navigate this opportunity effectively, traders should stay vigilant of key market factors and global developments.
🔔 Stay tuned for more updates on USOIL and other fundamental market movements.
USOIL My Opinion! SELL!
My dear friends,
Please, find my technical outlook for USOIL below:
The price is coiling around a solid key level - 74.39
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 71.82
Safe Stop Loss - 75.88
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
———————————
WISH YOU ALL LUCK
USOIL DAILYUSOIL DAILY: USOIL seems to have completed wave B of 2 and heading for the C leg. We are expecting the correction to terminate near the fib levels.
Crude BullishPrice action is suggesting, we are going to see a trending one way move in crude oil 129 level over next few weeks. Overall set up looks extremely bullish. With a SL of 57.2, one can aim for target of 129 and 143.
USOIL: Local Correction Ahead! 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 72.94
Wish you good luck in trading to you all!
NEW IDEA FOR WTI War tensions in the Middle East increase oil prices
By examining the trend in the one-hour time frame, WTI oil in the one-hour time frame has a support range in the range of 73.41-72.91, and on the condition of maintaining and not registering any one-hour close candle time under the mentioned support range, the rate of It can have a price increase up to the 300% Fibo resistance in the range of $77.67.
WTI CRUDE OIL: Sets course for $80WTI Crude Oil is bullish on its 1D technical outlook (RSI = 59.800, MACD = -0.360, ADX = 28.602) as it crossed over the LH trendline of the Bearish Megaphone. After a 4H RSI bottom formation, the 4H MA50 and MA200 are about to form a Golden Cross, the first since June 18th that caused a rally continuation to the 0.786 Fibonacci level. That is where the August 12th LH is and that is our target (TP = 80.00).
See how our prior idea has worked out:
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USOIL SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
USOIL pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 3H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 71.68 area.
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Got the crude !I got the crude movement with fine move
1:2 RR
FOLLOWING MM AND RM
even geopolitical pressure I'm in profit 📈
Crude Oil Falls to $70.30 as Market Awaits Possible ReversalOil prices have extended their losses for the second consecutive day, with crude trading around $70.30 per barrel on Wednesday. The decline in oil prices has been largely driven by the potential resolution of a political dispute in Libya, which has temporarily halted exports, along with growing concerns over a slowdown in global demand growth.
Adding to the negative market sentiment, data from the Institute for Supply Management (ISM) indicated that US manufacturing continues to struggle. Although there was a slight improvement in August, with the ISM Manufacturing PMI rising to 47.2 from 46.8 in July, it still fell short of market expectations of 47.5. This marks the 21st contraction in US factory activity over the past 22 months, underscoring the persistent weakness in the manufacturing sector.
From a technical standpoint, oil has entered a strong demand area, where seasonality data suggests a potential increase in volume, hinting at the possibility of a reversal. Additionally, the latest Commitment of Traders (COT) report shows that retail traders are heavily short on oil, further supporting the potential for a rebound. However, it's important to note that commercial traders, often seen as the "smart money," continue to hold lower positions, adding a layer of uncertainty to the reversal outlook.
Moreover, oil prices are facing additional pressure due to the Organization of the Petroleum Exporting Countries and their allies (OPEC+) planning to increase production in the upcoming quarter. This move could weigh on prices, making a sustained recovery less certain.
While there are signs of a possible reversal in oil prices, the data remains inconclusive, and traders should exercise caution as market dynamics evolve.
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Crude OilPair : Crude Oil
Description :
Completed " 12345 " Impulsive Waves
Break of Structure and Retracement
RSI - Divergence
Bearish Channel as an Corrective Pattern in Short Time Frame
Exp Fiat
