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US WTI Crude (Spot) (XTIUSD)US WTI Crude (Spot) (XTIUSD)US WTI Crude (Spot) (XTIUSD)

US WTI Crude (Spot) (XTIUSD)

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Oil - Trade Tariff and Global Growth ProblemsThe week started with a gap higher on the Monday open to 75.99 in response to President Trump’s weekend announcement of trade tariffs on Canada and Mexico. This included import tariffs of 10% on energy from the two countries, impacting around 4.5 million barrels per day of oil supplies into the US. The rally quickly reversed in the afternoon, as headlines surfaced that the start date for the trade tariffs, which was to be Tuesday February 4th, had been delayed by a month. This came after last minute calls between the leaders of Canada and Mexico with President Trump, led to concessions on border controls. China was also the subject of weekend US trade tariffs on all goods of 10%, and as these went into effect on Tuesday, they retaliated with tariffs of their own on exports of commodities into the US. While their response was measured, the mere potential of a tit-for-tat trade war between the world’s two biggest economies was enough to send oil traders rushing to cut weak long positions, sending oil to fresh 2025 lows at 71.50. The fear is a protracted trade war between the US and China could negatively impact global growth, which in turn could have severe implications for oil demand moving forward. That said, the situation between the two countries is fluid and prices will be sensitive to any headlines suggesting a pause for discussions between the US and China, or deeper escalation of the trade war. Traders also need to be prepared for updates on potential US tariffs on the EU and any retaliatory response. All of which could influence oil prices. The technical outlook is also critical. Oil has seen a sharp sell-off since the 81.01 January 15th high, a move that that was only briefly interrupted at Monday’s opening, as threats of Trumps tariffs were digested by the market. However, the early price strength proved short lived, and resistance offered by the Bollinger mid-average currently at 76.24 held, prompting fresh weakness, as tariffs were postponed, easing concerns. The latest downside move pushed below potential 72.22 support, which is the 61.8% Fibonacci retracement of November 18th to January 15th strength. Much will depend on future price trends, but if this break is confirmed on a closing basis, it may lead to a more prolonged phase of price weakness. Next Possible Support: A previous correction low, where price weakness has been held and reversed to resume strength, can sometimes suggest the next support level during an extended price decline. If this is to be the case again, the next possible support could be 68.84, the December 20th session low, or, if this level was broken even possibly towards 67.06, which is the December 6th low. What About Potential Resistance Levels? Just because closing breaks of support offered by a 61.8% retracement have in the past prompted extended price declines, doesn’t mean it will do so again. As such, we must be aware of possible resistance levels. If price strength is seen, closing defence of 74.26 resistance, which is equal to 61.8% of this week’s decline, may be watched. Successful closing breaks above this level while not an outright positive, could see a more extended phase of price strength towards resistance at 76.23, the declining Bollinger mid-average. The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.
PEPPERSTONE:SPOTCRUDE
by Pepperstone
Crude whipsawsCrude oil suffered a deep sell-off yesterday, but rallied off its lows soon after the US open. In little over an hour, front-month WTI jumped from the day’s low of $70.50 to break briefly above $73.00. Prices have drifted lower ever since. The initial sell-off came after China announced retaliatory tariffs on imports from the US. The bounce came after President Trump turned his focus back on Iran, renewing pressure to curb the theocracy’s nuclear ambitions. This led to a severe drop in Iranian oil exports during Mr Trump’s last presidential term. China’s tariffs are set to come in next week, giving an opportunity for resolution. Presidents Trump and Xi are expected to have a conversation before these tariffs are implemented. China’s levies are focused on energy products including crude oil, liquified natural gas and coal. But China is also considering restrictions on the export of rare earth metals, and has said it will launch an antitrust probe into Google. Technically, oil is trading around the 61.8% Fibonacci Retracement of the six week rally since early December. If it can hold around here, then it increases the probability of a rebound.
TRADENATION:WTI
by TradeNation
WTI Crude Oil: Navigating Current Dynamics Near $72.00As I write this, West Texas Intermediate (WTI) crude oil is hovering around $71.90. Despite ongoing concerns about a US-China trade war, the market is largely dismissing this risk, focusing instead on supply worries stemming from Iran. President Trump's administration has reinstated its "maximum pressure" campaign, aiming to cut Iran’s oil exports to zero, which heightens global supply concerns. This geopolitical landscape has significant implications, suggesting a potential tightening of global oil supply that could lead to price increases. From a technical standpoint, retail sentiment is bearish. However, examining historical data reveals a pattern of price recovery following downturns. Given current market dynamics, there’s a strong case for a bullish reversal. A pullback to around $78 seems feasible, as demand may soon outstrip supply due to lingering geopolitical tensions and economic recovery. In summary, while bearish thoughts prevail, the foundations are in place for an upward shift in WTI prices. As developments in Iran and broader economic indicators unfold, traders and investors should remain alert to the potential for a rebound. ✅ Please share your thoughts about WTI in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
BLACKBULL:WTILong
by FOREXN1
5
OIL Ready To Go Down Hard,Don`t Miss This Chance To Get 500 PipsHere is 4h time frame and we have a very good daily closure below our support and now it`s working as a good res to force the price to go down for 500 pips , so i`m waiting the price to go up a little to retest the broken support and then give us a good bearish price action and then we can enter a sell trade with 500 pips target. This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
FX:USOILShort
by FX_Elite_Club
Crude ProspectI personally see crude in 2 different ways. 1. - fall a little more to have a power to rebound up to the previous high easy. - then, it will be completely bullish until the 80-90 dollars zone 2. - take some time with sideways channel and digest the volume thats done until now.. - then the crude will gain its momentum to soar up to the same 80-90 dollars price line. - However, ultimately it will go up until ATH and it will be the sign to sell your house and place your position with those money. This applies to the first scenario as well.
CAPITALCOM:OIL_CRUDELong
by minwoolim
1
OIL Special Crab PatternSpecial harmonic pattern of oil prices and the rise in oil prices from $70.4 per barrel have been observed in the market. By understanding and utilizing harmonic patterns in the oil market, investors can potentially identify trading opportunities and manage risks effectively. The increase in oil prices from $70.4 per barrel signifies a shift in market dynamics, influenced by various factors such as supply and demand, geopolitical events, and economic indicators. SEYED.
CAPITALCOM:OIL_CRUDE
by SEYED98
1
LongGot it. In trading, resistance at 80.100 likely refers to a price level where an asset has historically faced selling pressure, preventing it from moving higher. When this resistance "breaks," it means the price has successfully moved above that level, potentially signaling further upward movement. Here’s how to confirm a clean resistance break: 1. Candle Close Above Resistance Look for a strong candle (preferably on a higher time frame, like 4-hour or daily) closing clearly above 80.100. 2. Volume Confirmation Increased trading volume during the breakout supports the strength of the move. 3. Retest of Broken Resistance (Optional) Sometimes, the price will retest the 80.100 level after breaking it. If it holds as new support, it's a bullish signal. 4. Avoid False Breakouts Watch for long wicks above the resistance followed by price rejection; that could indicate a false breakout. Are you tracking a specific market (forex, stock, or commodity)? I can help tailor advice based on that.
FX:USOILLong
by Rohan_Jas