1 Hour Time Frame WTI CRUDE So Far based on my 5D Chart we still within the Triangle and after a retest at resistance the expectations is for a smooth drop to roughly 79 by end of the week. I now decided to do an analysis on a 1H time frame to follow a bit more often and keep an eye on a breakout,. I highlighted the Top purple and Bottom purple lines as potential targets should we have a break out on either the BUY or SELL ZONES. For Scalpers I highly reccommend staying away from the Yellow Zone, once we are out of thaty area it should give you a better picture on where the trend goes. Hope I am right with this but I base this only on Trend, Volume and the Oscilator Matrix.along with the EMA at 200. Shortby frederico_r1
idea on a chart US CRUDE OIL PRICE AND ANALYSIS Oil Prices were lower again on Tuesday on reports that Hurricane Beryl left crucial energy architecture in the Gulf of Mexico largely unscathed, easing near-term supply concerns. The area is usually responsible for just under half of all the United States’ oil output. Some production facilities were evacuated as the hurricane approached, leading to a slowdown in refinery activity at coastal sites. However, Beryl weakened after making landfall in Texas and was downgraded to a tropical storm from a Category 1 hurricane. There was relief at major oil shipping docks in the region which either re-opened on Tuesday or were scheduled to do so soon. A ceasefire in Gaza remains tragically elusive, but efforts to get there continue. That prospect is also helping at the margin to ease worries about Middle Eastern oil supply. Federal Reserve Chair Jerome Powell will deliver his regular testimony to Congress later. At present the markets suspect, or hope, that US interest rates will at last start to fall in September. For as long as this prospect is live, there will probably be a floor under oil prices as investors anticipate increased energy demand. US inventory numbers will be closely watched for a repeat of recent, heavy drawdowns.by EZIO-FX3
Summer Demand - Oil Gains Continue After doing some research I have seen that the price of Oil tends to rally during the summer months with prices peaking in September - October. During the summer months, particularly in August, oil prices tend to rise. Why? Because this is when the summer driving season is in full swing. As people hit the roads for vacations and travel, there’s an increased demand for gasoline. This higher demand for fuel contributes to the upward pressure on oil prices. Additionally, hurricane threats in the Gulf of Mexico are also factored into oil prices during this period. I am looking to start buying Oil after the next retracement. We could see prices fall to 82.00 - 80.00. I expect prices to reach 87.50 by the end of summer or beginning of September. Let me know what you guys think :)Longby TheForexMessiahUpdated 119
USOIL Remains Bullish targeting @83.50NYSE:TVC : USOIL I Am New in typing on this platform my ideas but I know I will get better in time as I can see oil remains in my Bullish range targeting the1st Fvg (tp) would be @ 83.50 2nd tp for aggressive traders would be @ 84.00 sl You can place it as you usually do 1:3 R: R OR 1:2 R:R but that, just my theory awaiting to see it bullish until both target are hit Longby que5
XTIUSDThe Chart is was printing a Bearish Trend ,but there is Divergence and the trend is now Bullish Trend . The Entry Point will be 81.63 and the stop loss will be 79.51Longby Azeem2081
Top down analysis on WTiOil prices fell over 1% on Tuesday as traders reacted to disappointing economic growth data from China. West Texas Intermediate (WTI) hovered around $80 per barrel, while Brent crude traded slightly above $83 per barrel. Dennis Kissler, senior vice president at BOK Financial, noted that “weaker economic data continues to flow from China, with government support programs falling short and many of China’s refineries reducing operations due to weaker fuel demand.” The Chinese economy grew by 4.7% in the second quarter, missing analysts’ projections of 5.1% GDP growth. This decline in oil prices occurred despite expectations of Federal Reserve rate cuts in September. According to CME FedWatch data, traders have fully priced in a rate cut. On Monday, Fed Chair Jerome Powell indicated that the central bank might be nearing a rate cut, citing recent improvements in inflation readings. The US dollar also strengthened against a basket of currencies on Tuesday, making dollar-denominated crude more expensive. Earlier in July, oil prices neared a two-month high due to supply threats from Hurricane Beryl and ongoing Middle East tensions. Some analysts predict Brent crude could reach $90 per barrel this year due to concerns about a broader conflict in the Middle East involving Iran. Escalating tensions between Israel and Lebanon’s Hezbollah, backed by Iran, have heightened fears of a more direct involvement from Tehran. Year-to-date, WTI has increased by approximately 13%, while Brent has risen by more than 10%. To perform a top-down analysis on West Texas Intermediate (WTI) Crude Oil Futures, I’ll follow a structured approach, starting from higher timeframes (Monthly) down to lower timeframes (15-Minute). This will help identify key support and resistance levels, trends, and potential trading opportunities. 1. Monthly Timeframe Analysis Trend Direction • The monthly chart shows WTI in a broader range with significant volatility. • Historically, prices have fluctuated between $65 and $110. Key Levels • Resistance: Around $100-$110, which acted as a significant resistance zone in the past. • Support: Around $65-$70, where the price found strong support during downturns. 2. Weekly Timeframe Analysis Trend Direction • The weekly chart indicates a more detailed view of the fluctuations within the broader range observed on the monthly chart. • The current trend shows recovery from lows, with the price pushing towards higher resistance zones. Key Levels • Resistance: Around $90-$93, aligning with recent highs. • Support: Around $75-$78, showing multiple bounces from this level. 3. Daily Timeframe Analysis Trend Direction • The daily chart shows a clearer uptrend with higher highs and higher lows forming since the recent bottom. • The price is consolidating near recent highs, indicating potential for continuation or a pullback. Key Levels • Resistance: Around $85-$87, which corresponds to the recent highs. • Support: Immediate support around $78-$80, with more substantial support at $75. 4. 4-Hour Timeframe Analysis Trend Direction • The 4-hour chart reveals the intraday trends within the daily movements. • There is a visible uptrend with minor corrections. Key Levels • Resistance: Immediate resistance around $83-$85. • Support: Around $80-$81, aligning with recent lows and consolidation zones. 5. 1-Hour Timeframe Analysis Trend Direction • The 1-hour chart shows shorter-term trends and consolidations. • The price action indicates potential for both upward and downward movements, depending on key levels being tested. Key Levels • Resistance: Immediate resistance at $82-$83. • Support: Around $80, with a deeper support zone at $78. 6. 15-Minute Timeframe Analysis Trend Direction • The 15-minute chart shows very short-term price movements, useful for intraday trading. • The price shows frequent tests of support and resistance within smaller ranges. Key Levels • Resistance: Around $81.50-$82. • Support: Around $80.50, with lower support at $79. Trading Strategy Long Positions • Entry: Near support zones identified in the 4-hour and 1-hour charts, particularly around $80-$81. • Confirmation: Look for bullish patterns or candlestick formations. • Targets: Resistance levels at $82-$85. • Stop Loss: Below $79, to protect against breakdowns. Short Positions • Entry: Near resistance zones identified in the 1-hour and 4-hour charts, particularly around $83-$85. • Confirmation: Look for bearish patterns or candlestick formations. • Targets: Support levels at $80-$78. • Stop Loss: Above $86, to protect against breakouts. Risk Management • Position Sizing: Use proper position sizing techniques to manage risk. • Risk-Reward Ratio: Aim for a favorable risk-reward ratio, typically 1:2 or higher. by KironKavanagh0
Possible USOIL sell The dominant trend so far is to the downside with USOIL. If price holds at this resistance we could see a continuation in the current downtrend. Pice also created a double top above the highs, so this sell may not be long term. If price fails to hold at this resistance level we could see a retest of the double top before we see a change in direction with USOIL. TVC:USOIL Shortby TKProphet4
Crude Oil (WTI) may fall to 79.75 - 80.20Pivot 81.35 Our preference Short positions below 81.35 with targets at 80.20 & 79.75 in extension. Alternative scenario Above 81.50 look for further upside with 82.00 & 82.50 as targets. Comment As long as the resistance at 81.35 is not surpassed, the risk of the break below 80.20 remains high. Supports and resistances 82.50 82.00 81.35 80.93 Last 80.20 79.75 79.20 Number of asterisks represents the strength of support and resistance levels.Shortby Daniel_Thompson3
Could WTI oil rise from here?The price is currently on a support zone which is a strong support which price has been respecting multiple times and could rise from this level to the upside.Longby ChrisLaw15
USOIL could consolidate as it approaches 78.00Technical Perspective: USOIL pared recent gains as it reversed below the 84.00 resistance, with the price approaching the 78.00 support. If USOIL rebounds above the 78.00 support, the price could extend its rally to restest the 84.00 resistance again. Beyond that, a breakout of the 84.00 resistance could prompt a further rise, with 86.00 as the next potential resistance. Conversely, if the bearish momentum persists, with a break below the 78.00 support, a further retracement towards the 72.00 support might occur. Fundamental Perspective: Oil prices steadied after a recent decline, supported by a reported 4.4 mln barrel drop in US weekly crude oil inventories, according to the API, indicating tightening supply. Meanwhile, supply constraints from OPEC+ production cuts, geopolitical risks, and Hurricane Beryl's impact could limit further declines in oil prices. However, market sentiment remains cautious due to weak demand from China, the world's top oil importer, amid an economic slowdown. Longby lixing_gan1
My View on CFDs WTI on Crude OilHello, We've identified a current opportunity to Short CFDs WTI on Crude Oil with a high probability in the Daily chart. Our target is $76.17 within a few days. IbrouriShortby Abdessamadibrouri2
My View on CFDs WTI on Crude OilHello, We've identified a current opportunity to Short CFDs WTI on Crude Oil with a high probability in the Daily chart. Our target is $76.17 within a few days. IbrouriShortby Abdessamadibrouri0
USOIL Buy IdeaTVC:USOIL price has dropped due to cooler global demand recently. Currently, It is trading over strong support zone of 80$ which previously act as a resistance. We can expect potential bullish move from this area before it decides to continue its downtrend. Longby haider_aabbas6
Short WTIusing my Fib retracement strategy measuring the 1.27 and 1.38 extension after a significant U or V shaped price pattern, if price closes below the the baseline, there is a very large possibility (historically tested in many instruments) that price hits 1.27 and perhaps 1.38 See particularly the 4H chart for clarity here.Shortby TagusptUpdated 0
USOIL WTI (Crude Oil) Price movement understandingThis chart shows the understanding of price movements for specific time period , understanding candles and support resistance zones. This chart is only for educational purpose do your own research before taking any trades.08:46by be_you_akshay0
USOIL Support Rejection At $80.18 17.07.204- USOIL support rejection at $80.18 on the 1hr chart. - If rejection holds, price may rise to $81.10; breaking $81.10 targets $81.82. - If rejection fails, price may fall to $79.01; breaking $79.01 targets $77.52. Apply risk management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350) DisclaimerLongby Stuart_Cowell2
Long term oil looks ready to pop higherUsing TA like trendlines, Gann Trend, CMO, RSI Average, and wave trends when looking on the Weekly I see a big up move coming. I can also see an up move coming on other timeframes as well. Could it cycle down again before the pop...sure.. but it looks to be soon. What will cause the pop? Im not sure but in 2007 oil started a big up trend right before a rate cut in September (sound familiar?) 2007.Longby TheUniverse618Updated 7
Oil support . These oil support ranges are worth the risk in my opinion. Trump increases the price of oil.Longby mrata71
BULLISH USOILThis setup for USOIL looks fantastic. We're finally seeing a test of a key historical supply and demand area, and there is a clear bullish bias. With the US economy growing, this looks very promising.Longby ParlayProfitsFXUpdated 4
CRUDE OIL RISKY LONG| ✅CRUDE OIL fell again to retest the support of 80.50$ But it is a strong key level So I think that there is a high chance We will see a bullish rebound and a move up LONG🚀 ✅Like and subscribe to never miss a new idea!✅Longby ProSignalsFx114
Oil Breakout Testing ResistanceWTI is testing a major resistance pivot here at 84.58-85.40 . Looking for a reaction off this mark with the immediate rally vulnerable while below. Initial support now 81.81 backed closely by the monthly open at 81.44 . We remain constructive while above the 200SMA at 79 . A topside breach / close above this region exposes the yearly high-close (HC) / 61.8% ext at 86.67-87.13 - look for a larger reaction there IF reached. Michael Boutros, Sr. Technical Strategist @MBForex by FOREXcomUpdated 4
Crude at key support Intraday Update: Crude is attacking pretty key support here, and could find buyers between the 80.50 and 79.80 level in the coming hours. by ForexAnalytixPipczar1