Crude Oil upward Correction Oil is moving in down trend channel seeking to correct and rebound from the channel line to the supply zone & the trend line Longby Mohamed_Lewaa_CFTe1
USOIL (WTI) HELLO TRADERS As i can see usoil has successfully tested a strong weekly and daily based support chart is crystal clear for a technical analysis our risk reward is great on this setup friends its just a trade idea share ur thoughts with us and do a proper search befor taking any trade Stay Tuned Longby APEX_TRADING_ACADMEY4420
Crude oil demand concerns in focus with key Chinese data on tapCrude oil is now up for the third day after finding strong support around the $65 area. Now near $70, could it resume lower from here? It is important that that blue shaded area around 68.80-69.00 now holds as support if prices dip, otherwise we may see the bears step in on oil again. From a macro point of view, demand concerns continue to linger. Unless we see some improvement in data to suggest that crude oil demand is going to be stronger, or supply growth is going to be weaker, this recovery we have seen should be taken with a pinch of salt. It is likely that prices have found support this week amid short-side profit taking and on the back of weaker US dollar, with hurricane disruptions further encouraging dip-buyers. But weakness in China’s economy is a major concern, which puts the weekend’s release of industrial data from the world’s second largest economy into focus. In the week ahead, crude oil traders will be watching the big central bank rate decisions, especially that of the Fed on Wednesday. If the FOMC’s economic projections in the dot plots point to weakness in growth, then that could trigger a fresh wave of selling. By Fawad Razaqzada, market analysts with FOREX.com by FOREXcom2
RR = 2 Buy ideaprice bounce on previous support level + formation of a falling parallel channel + bullish crab pattern + strong Bullish RSI divergence : Potential reversal scenario PS never risk more tha 2% of your capital per trade Longby slim71
USOIL: Continue the downtrend?Very simple setup on crude oil. Looking for a small correction to the previous support. This is not only from last week, but also from many months ago. Entry at 67 Target at 62.95Shortby 110219921
Elliott waves OILUSD Elliott waves. Warning: Be careful, one of hundreds of possible scenariosby khalid_Abdullah1
USOIL / TRADING SENSITIVE AREA - 4HUSOIL / 4H TIME FRAME HELLO TRADERS In the last chart as mentioned rising and reached +100 pip profit. Currently, prices are trading above 68.74. As long as they remain and stabilize above this level, a rise toward 69.98 is expected. To confirm an uptrend, prices need to break above 69.98, potentially reaching 71.59. On the downside, if prices stabilize below 68.74, a decline toward 65.35 is anticipated, and if they fall further below this level, they could reach 63.67. TURNING LEVEL : 68.74Shortby ArinaKarayi4
Now Market Focus on M30 Distance TPNow Market Focus on M30 Distance TP 1.XX RR Secret numberShortby NorthKoreanTraderInPyeongyangUpdated 113
US OIL Markets Falling To Key Long Areas..Weak pushes out of the current price action (Demand) zone on oil is causing concern for some long side holders. We may see further dips into such area(s). Still holding long bias for ultimate rallies.Long03:44by WillSebastian7
Crude Oil Down to SPR Refill Level SupportThe politically motivated push to depress oil prices and drain the Strategic Petroleum Reserve created a PRICE LEVEL in the crude oil market which has proven twice to have strong overhead resistance. The FLIP-SIDE of that SPR DRAIN LEVEL is that SPR-REFILL LEVEL and we are down low enough where it makes sense to strategically refill our lost petroleum reserves. I strongly advise putting KEY NEWS levels on your charts for future reference so you can use these levels to your advantage. How much risk do you take on this entry long here? A good way to assess risk is to use 3 average true ranges (over 11-days or more) to make sure you have a wide-enough stop in any market. If your stop gets hit, you can re-assess and decide to re-enter. Tim September 9, 2024 10:25AM ESTLongby timwest39
1W ChoCh Sell Just Beginning1W ChoCh Sell Just Beginning last low $0 in 2020 Possible Take profit it's make 3 Waves Higher Low But have strong Support in Blue order box It's need Clearly.Shortby NorthKoreanTraderInPyeongyang2
USOIL D1 Analysis - Bearish Pair Name = USOIL Timeframe = D1 Analysis = technical + fundamentals Trend = Bearish Pattern = Symmetrical Triangle Details:- USOIL will keep following the bearish trend. Currently Facing a good Support. From this support level USOIL will Stay here for Few More day. It will Move Between the level 65 to 70. But when breakout confirm Price will hit 55 to 57 price level Shortby Alpha-GoldFX1
USOIL / UNDER UPWARD PRESSURE - 4HUSOIL / 4H TIME FRAME HELLO TRADERS USOIL is currently trading above the turning level of 67.09 and remains above the support trendline, indicating upward momentum. There are two potential scenarios: The First Scenario , USOIL's trading above 67.09 and staying above the support trendline signals strong buying interest, which suggests upward pressure. The target of 69.98 is a logical resistance level, followed by 71.59, which marks the next significant zone. Stabilization above 71.59 and 72.20 would confirm the strength of the uptrend, as breaking these levels would show that demand is outpacing supply, leading to further price gains. The Second Scenario , If USOIL fails to maintain the 67.09 level and closes below it on a 1-hour or 4-hour chart, it indicates bearish momentum. This would increase the likelihood of a decline toward 65.35 and 63.67, the next significant support levels. A break below 65.35 could trigger a stronger downtrend as it would suggest sellers are gaining control, particularly if the price falls below the descending channel, reinforcing the bearish sentiment. KEY LEVELS : Turning Level : 67.09. Resistance Levels : 69.98 , 71.59. Support Levels : 65.35 , 63.67. Longby ArinaKarayi13
Buy OpportunityInstrument: USOIL Position: Buy Entry: 68.30 1st Target: 71.65 2nd Target: 74.20 Stop Loss: 66.83 Rationale: USOIL is exhibiting signs of a bullish trend, supported by recent price action and fundamental factors. Targets: Our primary target stands at 71.65, representing a significant resistance level where we anticipate a price reaction. The secondary target is positioned at74.20, indicating further potential Upside momentum. Stop Loss: To manage risk effectively, a stop loss is placed at 66.83, just below the anticipated Support level. This ensures a controlled exit in case of unexpected market movements.Longby GODOCM1113
The decline will continue, and a profit of 50k is planned for thToday, in terms of resistance, we should focus on the pressure range formed by the 1-hour MA60 moving average of 69.1 and the 1-hour Bollinger band upper rail of 69.5, followed by the suppression range formed by the 70 integer mark and the 4-hour Bollinger band upper rail of 70.5. In terms of support, we should pay attention to the 4-hour Bollinger band lower rail of 67.6, and the 1-hour Bollinger band lower rail of 67.2. On the whole, Liu Mingcheng is also not optimistic about the emergence of a unilateral market on Monday. It is tentatively set to fluctuate and consolidate in the 67-70 range. In terms of operation, it is recommended to short on the rebound as the main, and to go long at low levels as the auxiliary. Crude oil strategy: short on the rebound touching the 69.2-69.5 area, stop loss 70, target 68.5-67.8; if it retreats to the 67.6-67.2 area first, go long, stop loss 66.7, target 68.5-69.5, and hold if it breaks; (Alternative strategy: place a long order at the low of 66.1, break 65, target 68-70, and hold if it breaks and is bullish 72+)Shortby s9hts9htUpdated 7
Oil Price Analysis Key Areas To WatchOil price Analysis Key Area to Watch In this chart I explain current position of Oil and possible the sacaniro from a Weekly perspective. The short term trading chart are not showing any clear signals and the momentum For more details you will find in the chart 📈 Plz Support with like or comment if you Find This analysis useful for your Trading day ❤️by MrCharlie11145
WTI continues to be under pressure, notable data this weekTVC:USOIL remains under pressure, after data showed weaker-than-expected US employment data in August, which was mixed with support from OPEC+ oil producers delaying supply increases. US government data showed job growth in August was lower than expected, but the unemployment rate fell to 4.2%, suggesting the Federal Reserve may not need to cut interest rates very significant this month. The U.S. Bureau of Labor Statistics said nonfarm payroll employment increased by 142,000 in August, less than expected to increase by 160,000. (July's increase was revised down to 89,000, the smallest increase since December 2020). As for the geopolitical situation, as the Israeli army battles Hamas-led rebels in the Palestinian Gaza Strip, medics said on Saturday that Israel's military assault on Gaza has killed at least at least 61 people in 48 hours. The warring parties continue to blame each other for the failure of mediators including Qatar, Egypt and the US to broker a ceasefire. The United States is preparing to present a new proposal, but the prospects for a breakthrough appear slim as the differences between the two sides remain wide. In general, there are still no notable new points regarding the geopolitical situation, so it will have less impact on the market than before. This week will release OPEC's monthly crude oil market report, EIA's monthly short-term energy outlook report and IEA's monthly crude oil market report, which are the focus of the US oil market. this week and the market will pay special attention to them. On the daily chart, TVC:USOIL still in a downtrend with technical conditions leaning towards the possibility of a price decrease. First, the long-term technical trend of WTI crude oil will be noticed by the price channel and the 21-day moving average (EMA21). Although WTI crude oil stopped falling after reaching the 1% trend-following Fibonacci extension that readers noticed in the previous issue, this is not a trending support so once WTI crude oil Breaking below the 66.96USD price point of the 1% Fibonacci will condition the price to continue falling. The next target level of WTI crude oil will be noticed at 64.55 – 63.66USD. As long as WTI crude oil remains in the price channel and below the EMA21, it still has a main bearish trend with notable technical levels listed below. Support: 66.96 – 64.55 – 63.66USD Resistance: 68.84 – 69.77USDShortby Xayah_trading4
USOIL: Quick Buy Opportunity After Weekly Support BreakUSOIL has broken through a significant weekly green line support, presenting a potential buy opportunity for a quick retest of the previously broken zone. Watch for price action around this area to gauge the strength of any potential bounce or continuation. Interested in how this setup unfolds? Drop a comment and follow for more trade ideas and updates! Disclaimer: This is not financial advice. Always trade responsibly!Longby Remora_tradersUpdated 4
OIL/USDA falling wedge is a technical chart pattern formed by drawing two converging trendlines that slope downward. It is characterized by decreasing price highs and decreasing price lows, with the upper trendline having a steeper slope than the lower trendline. This pattern typically signals a bullish reversal after a downtrend, as it suggests that selling pressure is weakening and the market may be preparing for an upward move. Traders often look for a breakout above the upper trendline as a signal to enter long positions, with stop-loss orders placed below the lower trendline. As with any technical pattern, it's important to consider other indicators and factors before making trading decisions.Longby B9A-88652-NisarAhmad1
USOIL / TRADING ABOVE SUPPORT LEVEL - 4HUSOIL / 4H TIME FRAME HELLO TRADERS The First Scenario , The support level at 65.35 acts as a critical threshold; as long as prices remain above it, buyers dominate, pushing the price towards 68.74 and then 69.98. This rise reflects increased confidence in an uptrend. For the trend to be fully confirmed, prices must stabilize above 69.98, signaling sustained momentum, which could lead to a further increase to 71.59. The Second Scenario , if the price breaks below 65.35 and stabilizes, it indicates a shift in market sentiment, with sellers gaining control and potentially driving the price down to 63.35, followed by 62.65 This technical analysis underscores the importance of price levels in predicting future market movements and investor behavior. UPWARD TARGET : 68.74 , 69.98 , 71.59 . DOWNWARD TARGET : 63.35 , 62.65 . Longby ArinaKarayi4
USOIL Potential DownsidesHey Traders, in today's trading session we are monitoring USOIL for a selling opportunity around 69.50 zone, USOIL is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 69.50 support and resistance area. Trade safe, Joe. Shortby JoeChampion8
CRUDE OIL STRONG SUPPORT AHED|LONG| ✅CRUDE OIL keeps falling In a strong downtrend and Oil is locally oversold so after The retest of the horizontal Support level below at 62.50$ We will be expecting a local Bullish correction LONG🚀 ✅Like and subscribe to never miss a new idea!✅Longby ProSignalsFx112
Dead OilWow Wow.... oil has been rallying downwards since the last week of August... dropping from 70-69 levels to 64.8 today! we are already at -12% since last Tuesday. As per the graph u can clearly see that we have dropped from 68.3 till 64.8 one way ticket, breaking every single support! 64.8 December 2021 low was hit today which makes it promising for bulls.... we have reached 64.2-64.8 a very strong area that oil would need to hold for some upward move. I would suggest staying on the sidelines until Supp/Resist is reached.... Please remember "the trend is ur friend!". Hint: below are two scenarios I am expecting to take place.... I would go for the scenario where oil drops.. tests support and bounces again! (GREEN ARROW) Trade safe and green peeps! Amen. by T_Shelby_012