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OIL |Bearish Pressure Builds as OPEC+ Prepares Fresh Output Hike OIL | Market Overview Oil prices edged lower on Monday despite strong seasonal demand, as the market prepares for an increase in supply. OPEC+ is set to raise production by 411,000 barrels per day starting Tuesday, marking the fourth monthly increase in output. Another similar hike is reportedly under consideration for August, which may further pressure prices. Technical Outlook The price remains within the bearish zone and is expected to continue its decline as long as it trades below the pivot level at 65.83. A daily candle close above 65.83 is required to confirm a potential bullish reversal. Until then, the bearish trend remains intact, targeting 63.47, 61.83, and potentially 60.16. Key Levels Pivot: 65.83 Support: 63.47 / 61.83 / 60.16 Resistance: 68.33 / 69.55
TVC:USOILShort
by SroshMayi
Market Analysis: Oil Slides — Traders Eye Macro TriggersMarket Analysis: Oil Slides — Traders Eye Macro Triggers WTI Crude oil is down over 15% and remains at risk of more losses. Important Takeaways for WTI Crude Oil Price Analysis Today - WTI Crude oil extended losses below the $68.00 support zone. - A major bearish trend line is forming with resistance near $65.60 on the hourly chart of XTI/USD at FXOpen. Technical Analysis of WTI Crude Oil Price On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to continue higher above $77.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $72.00. There was a steady decline below the $70.00 pivot level. The bears even pushed the price below $68.00 and the 50-hour simple moving average. Finally, the price tested the $63.70 zone. The recent swing low was formed near $63.69, and the price is now consolidating losses. On the upside, immediate resistance is near the $65.60 zone. There is also a major bearish trend line forming with resistance near $65.60. The next resistance is near the $66.80 level or the 23.6% Fib retracement level of the downward move from the $76.93 swing high to the $63.69 low. The main resistance is $70.30 and the 50% Fib retracement level. A clear move above the $70.30 zone could send the price toward $71.90. The next key resistance is near $76.90. If the price climbs further higher, it could face resistance near $78.00. Any more gains might send the price toward the $80.00 level. Immediate support is near the $63.70 level. The next major support on the WTI Crude Oil chart is near $62.00. If there is a downside break, the price might decline toward $60.00. Any more losses may perhaps open the doors for a move toward the $55.00 support zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
Market next move 🔄 Disruption Analysis: Contrarian View ⚠️ Original Viewpoint Summary: The original analysis suggests a bearish breakdown from the rising channel, with a short-term target of 64.36, pointing to a move towards the support zone. --- 📉 Disrupted (Contrarian) Perspective: 🔁 Fakeout Scenario Possibility: The sharp drop below the trendline may be a bear trap. Price quickly bounced back into the channel region, showing buyer interest near the support. 🔎 Key Observations: Wick rejection near the lower support suggests that demand is active around 64.50–64.36 zone. The structure of higher lows is still valid unless there's a confirmed close below the support box. Momentum indicators (not shown) may help validate whether this is a temporary pullback or a deeper correction. 📈 Alternative Projection: If price holds above the support zone, it could rebound back to test 65.50–65.80 resistance. A false breakdown followed by consolidation may lead to retest of the upper channel (near 66.00). --- 🧭 Revised Strategy Suggestion: Avoid early shorts unless there is a confirmed candle close below 64.36. Watch for bullish price action near support (hammer, engulfing) for a potential long re-entry. Reevaluate if WTI forms a base around 64.40 — possible reversal setup.
TVC:USOILLong
by Gold_Free_Signals
XTIUSD Breakdown from ascending channel now buy from supportXTIUSD Technical Update – 1H Timeframe 🚨 Crude Oil (XTIUSD) has broken down from the ascending channel, but is now showing a strong bullish reaction from the key demand zone at 65.10. 📈 Upside Targets: 🔹 1st Target: 70.00 – Local supply zone 🔹 2nd Target: 74.00 – Key supply zone 🔹 3rd Target: 77.00 – Bearish order block The momentum is shifting – bulls are stepping in! Watch for confirmations on lower timeframes and manage risk accordingly. 🔍 ✅ Like ✅ Follow ✅ Comment 💬 Join us for more real-time updates and analysis! — With 💖, Livia 😜
ICMARKETS:XTIUSDLong
by experttrader04
WTI Crude oversold rally support at 6400WTI crude oil is trading just above a two-week low of 6400, as demand concerns continue to weigh on prices. The pressure comes from uncertainty around President Trump’s tariff policy, which could worsen when the current 90-day pause ends on July 9. So far, only a minor trade deal with the UK has been reached, adding to fears of a global slowdown and weaker oil demand. Earlier this week, oil prices also dropped after Trump announced a ceasefire between Israel and Iran, easing fears about disruptions through the Strait of Hormuz, a major oil shipping route. On the positive side, expectations for Federal Reserve rate cuts are rising. If Trump replaces Fed Chair Jerome Powell with someone more supportive of rate cuts, it could help lift oil prices slightly by boosting the economic outlook. Overall, oil remains under pressure with limited upside unless demand outlook improves or further supportive policy measures emerge. Key Support and Resistance Levels Resistance Level 1: 6925 Resistance Level 2: 7080 Resistance Level 3: 7230 Support Level 1: 6460 Support Level 2: 6300 Support Level 3: 6100 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
TRADENATION:WTI
by TradeNation
TRADING IDEA - US CRUDE OIL - BEARISH FLAG, CONCERNS ON GLOBAL EFOREXCOM:USOIL The US Crude Oil prices went down yesterday, mostly because of the tariffs and concerns on demand. Here is what the Bloomberg is writing: " OPEC+ is discussing a pause in its oil production increases from October is fueling concerns about a slowdown in global energy demand. In addition, the intensification of US tariffs risks slowing global economic growth and energy demand after President Trump ramped up tariffs on numerous countries this week, including a 50% tariff on Brazil." So, despite the pause in oil production increase, which is supposed to be bullish factor the oil prices, we may see the slowdown in global economy and supposedly a recession because of Trump's tariffs. This is a long-term bearish factor for the oil. I think that we will see another bearish impulse here, according to what we observe on the chart. There is a nice bearish flag and i am planning to short it with a target nearby 6,540.00 support level. 🔽 a pending sell stop order at 6615.3 with ❌a stop loss at 6680.9 and 🤑a take profit at 6544.0 Trade cautiously! Preserve your deposits!
FOREXCOM:USOILShort
by ProfessorSingapore
Bullish bounce>WTI Oil (XTI/USD) is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance. Pivot: 65.65 1st Support: 63.74 1st Resistance: 68.24 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XTIUSDLong
by ICmarkets
Crude oil awaits upward breakthrough 💡Message Strategy Inventory data provides short-term support, but it is difficult to change the trend Although oil prices are under pressure overall, inventory data released by the U.S. Energy Information Administration (EIA) show that as of last week, U.S. gasoline and distillate inventories have dropped significantly, while gasoline consumption has increased by 6% month-on-month to 9.2 million barrels per day, indicating that the summer driving peak has brought short-term positive factors. In addition, global aviation demand has also become an important variable to boost market sentiment. JPMorgan Chase pointed out in a client report: "In the first eight days of July, the global daily number of flights reached an average of 107,600, a record high, among which aviation activities in Asian countries have recovered to the peak in nearly five months." The bank also expects that the average daily global crude oil demand growth this year will be 970,000 barrels, which is basically consistent with its forecast of 1 million barrels at the beginning of the year, indicating that although the consumption end is under pressure, it has not yet experienced a cliff-like decline. 📊Technical aspects The short-term (4H) trend of crude oil breaks through the upper resistance of the range and runs in an upward trend. The moving average system is arranged in a bullish pattern, and the short-term objective trend direction is upward. The MACD indicator opens upward above the zero axis, and the bullish momentum is sufficient. The oil price fluctuates in a narrow range, and it is expected that the crude oil will continue to rise. In terms of operation, crude oil is mainly long at a low level. If it rises to the target point, the direction will be selected according to the pattern and continued attention will be paid. 💰Strategy Package Long Position:65.50-66.50，SL：64.00，Target:69.00-70.00
TVC:USOILLong
by TheodoreSilas
USOIL🛢️ USOIL (WTI Crude Oil) – Technical Outlook & Forecast Current Price: $64.55 Bias: Bullish Only Forecast Levels: $82.00 → $85.00 → $90.00+ 🔍 Market Overview: Crude oil (USOIL) is currently trading around $64.55, showing early signs of a potential bullish reversal from multi-month lows. Despite recent volatility and macroeconomic uncertainties, the technical structure indicates the formation of a solid accumulation base, potentially preparing for a significant upward move. 📈 Technical Perspective: Price Action: Oil is attempting to reclaim key support zones that have held historically during large-scale recoveries. Momentum: Oscillators (like RSI/MACD) may be turning up from oversold territory (subject to chart confirmation), further supporting the bullish scenario. Volume Profile: Accumulation at lower levels hints at smart money interest around the $60–$65 zone. 🎯 Bullish Targets: $82.00 – Psychological and technical resistance $85.00 – Previous swing high / Fib extension zone $90.00+ – Medium-term projection if momentum sustains 🧭 Conclusion: The bias for USOIL remains bullish only while the $60–$62 zone holds firm as support. Breakout above near-term resistances could open the way for a strong move toward $82, $85, and even $90+. Keep an eye on macro events and inventory data for short-term volatility. 🟢 Trade Setup Idea (For Reference Only): Long bias above $64–$65 support zone, targeting $82–$90 over the coming weeks/months. Use proper risk management.
TVC:USOILLong
by Al-Reshad
Crude Oil Eyes 3-Year Resistance Once AgainWTI has rebounded cleanly from the neckline of an inverted head-and-shoulders pattern—formed ahead of the June Middle East conflict—establishing a strong support zone above $63.40. Prices are currently trading above $67. A sustained hold above this level could target $69 and $72, aligning with the upper edge of the 3-year declining channel. A confirmed breakout above $72 may extend gains toward $78, $80, $84, and $88 respectively. On the downside, a close below $63.80 may trigger renewed selling pressure toward $60, $58, and $56—within the mid-zone of the broader down trending channel. - Razan Hilal, CMT
FOREXCOM:USOIL
by FOREXcom
OIL: Sideways - Waiting for R2/S2 BreakoutsOil has been in a clear sideways consolidation for several days, reflecting a period of indecision in the market. While this tight range holds, a patient approach to trading is warranted. A long position will be considered if a confirmed breakout and sustained price action above R2 occur, indicating strong bullish momentum. Conversely, if oil breaks down and holds below S2, a short position will be initiated, anticipating further bearish movement. This current consolidation phase suggests a significant directional move is likely imminent, and observation of these key resistance and support levels will be crucial for entry signals.
TRADU:USOILShort
by Emranmeo
USOIL:Narrow trading strategy USOIL: There is no update in the past two days, because the oil price still continues to fluctuate in a narrow range, and the space for volatility is gradually reduced, which is not very different from our overall trading idea. The original long target of 65.9-66.4 can be adjusted to 65.8-66.2 with the reduction of the space for volatility. It is expected that the trend will come out this week, and we will adjust our thinking then. Friends who do not trade at present can refer to the interval trading strategy within a day: BUY@64.7-65 TP: 65.8 to 66.2 SELL@65.8-66.2 TP: 64.7-65 More detailed strategies and trading will be notified here ↗↗↗ Keep updated, come to "get" ↗↗↗
TVC:USOILLong
by Boooob_