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West Texas Oil

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WTI Oil H1 | Overhead pressures remainWTI oil (USOIL) could rise towards a pullback resistance and potentially reverse off this level to drop lower. Sell entry is at 70.04 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 71.40 which is a level that sits above a multi-swing-high resistance. Take profit is at 68.66 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
Bearish drop?WTI oil (USO/USD) has reacted off the resistance level which is an overlap resistance and could drop from this level to our take profit. Entry: 69.96 Why we like it: There is an overlap resistance level. Stop loss: 71.83 Why we like it: There is a pullback resistance level that aligns with the 38.2% Fibonacci retracement. Take profit: 67.58 Why we like it: There is a pullback support level.| Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:USOUSDShort
by VantageMarkets
Vital Oil Updates/knowledge Into Next WeekOil markets have presented an interesting case for a significant period time, ever since the rocket highs we saw around July 2022. The real waning of extreme demand has slowly created lower highs rebounding to a key level of support that is very notable and has provided many repeated long side entries/exits. Lately, concerns over Chinese demand for oil has slapped prices and sentiment remains weak. The initial push / rebound from key support we saw has almost totally diminished. It is worth noting that a drop under this level is absolutely not inevitable. The mistake lots of traders/investors make is that they believe some levels are absolutely solid, this is the same for the downside trend line drawn (see lower highs). Some traders believe these levels/trends are also invincible. OPEC typically likes to keep prices at a fair and profitable medium. Any risk drivers (geopolitical) may cause rallies, whilst further demand outlook issues may drop price, particularly if they are extreme. Keep any risk taken on any trade minimal. Current area(s) that are tradeable now pose inherent risk that is greater than before due to the tightening of ranges. A crushing sentiment blow either side can swing prices greatly out of such ranges. I am only willing to buy anything significant under current lows, shorts will need to be much higher but will also come with lowered risk due to intense rallies.
TVC:USOIL
by WillSebastian
Oil is still bearish but clearly at a key bullish zoneThe bullish array we are at now contains a flipped imbalance and can indefinitely hold price within it's boundary preventing a close lower close. If this is the case, we will see heavy wicking in this area and a reverse to the high of the Friday candle high. Depending what happens at the high will determine what to expect next. The main observation that is speaking to us is how price wicked the entire iFVG flip range and closed on the edge of the FVG range. This will be important body level to watch going into next week. We also expect this low to be wicked but we will have to see how we play the inducement that is going to build in this range.
FX:USOIL
by HollywooodTrades