Crude oil channel tradingcrude oil is moving in parallel channel, it may rise till $73.00 in short term. Thanks
XTIUSD trade ideas
CRUDE OIL Resistance Ahead! Sell!
Hello,Traders!
CRUDE OIL is going up
Now but will soon hit
A horizontal resistance
Of 72.68$ from where
We will be expecting a
Local bearish correction
Sell!
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Free Signal USOILI recommend you to take buy USOIL as you can see we have price action: trendline back to test key level also we are in kill zone so have a good probability to continue pushing up
WTI bullish but that could change on an oil spillWTI is on a firm bullish correction into bearish flows and upside targets are still eyed, although things could flip and the video explains.
Crude recoversCrude oil has managed an impressive bounce over the last ten sessions. Earlier this month, front-month WTI broke below $65 per barrel to trade at its lowest level since May last year. Front-month Brent hit its lowest level since December 2021. The latest sell-off took both markets into very oversold territory. Since then, oil has rallied sharply, with WTI, as of Thursday’s high, up around 10% from its recent low. Has crude finally bottomed? It’s still too early to know. Prices have pulled back a touch this morning, but not significantly. Oil could continue to rally from current levels, but it will be its next pull-back which will help decide if the bottom is in. If it’s relatively modest and falls significantly short of last week’s $64.80 low, then that would certainly increase the probability that it is. If not, then there’s an increased likelihood of another lower low before it’s safe to sound the ‘all clear’. Overnight, China refrained from lowering its 1 and 5-year Loan Prime Rates. But on the other hand, the US Federal Reserve has made it clear that its prepared to cut rates further. As long as these aren’t a precursor to weakness in the US economy, then they may help to lift sentiment, and oil prices. Unless, of course, they trigger increased production.
Crude Oil long term analysis⭕WTI has taken downward trend since (18Jul 24) , Because of industrial countries had bad data and concern about suffering recession the price gone down.
🔻In the another side OPEC+ decided increaseof their supply.
🔻China's data not promising, China is the biggest importer of Oil in the world so its pridectable to effect oil price.
🟢Middle east and tension of that has no end ,Analysts alarm to happening War and Geopolitical things limtied down trend of price.
🟢Fed's recently reduced intrest rate by 0.5 which is big move since years ago ,And they decided to cutting rate by 0.25 from other meetings it mean Soft Landing , in this case it will help to US Gov'
to improve the economic and WTI price mostly dependent to US economic so it will help to growth Oil price
🔵So many countries economics related together so if US ecnomy will recovery it self
China , Japan , Euro zone , Australia , Canada , ..... will betterment too so if the economics of countries better so productions and output will growth that causes import Oils and counsume.
✅In my idea 66$ to 63$ very big support area and good place to order Buy.
my expectation is WTI in 2025 will growth smoothly to our other targets.✔✔
💌pls add your idea too and let me know❗❓
OIL: Day 3 breakout traders long in the marketHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance
Wednesday DAY 3 (reset DAY 1) Mid Point Week
Thursday DAY 2
Friday DAY 3 Closing Range ✅
2. SIGNAL DAY
First Red Day
First Green Day
3 Days Long Breakout ✅
3 Days Short Breakout
Inside Day
3. WEEKLY TEMPLATE
Pump&Dump ✅
Dump&Pump
Frontside ✅
Backside
4. THESIS:
Long: secondary, I won't exclude the possibility for this market to setup for a long trade, the market performed a higher high on the HOW and started dropping, currently consolidating.
Short: primary, Day 3 long breakout traders, HOW, is most of the time a reversal signal, but considering the overall level and behaviour of price, before NY session start I can see more a pump and dump. Price still on the frontside, so I won't be looking for a dump all the way down back to the LOW, unless news release at 10:30am NYT will be catalyst.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
WTI With Bearish SignsThis is a short-term setup for WTI:
Price has been rejected at an order block while the H1 RSI is bearishly divergent.
Therefore, we open a short position to intercept the expected downward movement.
Sell OpportunityInstrument: USOIL
Position: Sell
Entry: 70.58
1st Target: 67.18
2nd Target: 65.23
Stop Loss: 71.94
Rationale:
USOIL is exhibiting signs of a bullish trend, supported by recent price action and fundamental factors.
WTI Oil H4 | Falling to overlap supportWTI oil (USOIL) is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 70.11 which is an overlap support that aligns close to the 38.2% Fibonacci retracement level.
Stop loss is at 68.26 which is a level that lies underneath an overlap support and the 50.0% Fibonacci retracement level.
Take profit is at 73.00 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level.
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USOIL LONG OPPORTUNITYUSOIL LONG OPPORTUNITY
The inside bar of USOIL breakthrough upwards
Therefore, buy USOIL when the price pull back
around 70.19
SL: Below 68.45
TP: 73.4
m15 to testing 200ma H4 Biggest TF first testing.m15 to testing 200ma H4 Biggest TF first testing normally
1.5 Ratio that fit to 4H 200 ma that rejected cut loss price.
Bearish drop off pullback resistance?USO/USD is reacting off the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 72.19
Why we like it:
There is a pullback resistance level.
Stop loss: 74.66
Why we like it:
There is an overlap resistance level that is slightly below the 78.6% Fibonacci retracement.
Take profit: 69.80
Why we like it:
There is a pullback support level that lines up with the 38.2% Fibonacci retracement.
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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.
USOIL POSSIBLE SELLThe market is currently testing the current weekly Fib area 0.618. Based on Daily TF, the market seems to be forming a possible reversal chart pattern.
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.
Oil Post 50 Bp CutLooks like markets reacted positively to this 50 Bp cut... it was expected!
But, let's agree on something.. facts... the fact that the Fed has taken the initiative to cut 50Bps means that they consider themselves late and behind schedule ! Not good news at all.
Markets have played out the "50Bps" without highlighting the "behind schedule" fact... I would say it's either a trap or the sad reality.
I expect oil which have risen till 71.5 as per the chart... to reverse and dive again towards lower prices with "69.6" in focus knowing that its a very important level for oil.
We have reached the top imo, I ll be eyeing for new lower targets starting Friday/next week.
In case oil doesn't respect my trading plan.. and breaks through 71.5 and 71.8, we can expect bulls to enter heavily and take us to 73.8,74.6 and 75.2 in no time.
Recessions lead to lower oil prices.
Trade safe and green.
USOIL - Potential short !!Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a bearish market structure from daily timeframe perspective, so I look for a short. My point of interest is a rejection from trendline + LZ. As well price forms hidden divergence, so I will look for a regular divergence on LTF.
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CRUDE OIL RESISTANCE AHEAD|SHORT|
✅CRUDE OIL will be retesting a resistance level of 72.72$ soon
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
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Continued growth of WTI. H4 17.09.2024Continued growth of WTI
Oil rebounded from important support in the region of 65
and started to grow, I believe medium-term.
I do not exclude intermediate corrections, but in general
we aim at the area of 73 and there I will be specified.
On the way of growth we have resistance in the area of 71.50
and from there we can bounce down locally. But I believe that
then we will continue the growth to the specified targets.
Set up is working properly. I'm glad to see it is respectedAs you can see the marked level at $70.800 as its major resistance and 70.200 as a support. Still I hold my buy and sell until it breaks the level however on small TF one can plan Scalping as it is respecting the setup in a defined manner.
USOIL Buy limitIn my opinion USOIL will go long, but I prefer to buy it from 65,86 : 66,26
Stop Lose close below 65,24 with 4H Candle
Take profit 1 will be 69,69
Take profit 2 will be 72.42
USOIL BullishUSOIL has formed the bullish rectangle continuation pattern signalling further upside. There is no divergence therefore chances of trend reversal are low.
