WTI (Crude) Price Action on 15m TimeframeThere is currently seeing bullish price action on the 15m timeframe which appears to be a pullback/retracement on the 4h timeframe which is now displaying bearish price action. This appears to be preparation of lower timeframe re-alignment of the higher timeframe price action. The expectation is that price will "tap-in" at the 78.36 price point where there is identified bearish orderflow. Price is currently in Premium so we are only interested in shorts at this time. We also are using internal range liquidity (FVGs, Trandline Liquidity) below the current support as confluence for downward price movement in the coming hours. Shortby Platform_Solution1
USOIl ANAYLSISUSOIL Forecast -------------------------------------------------------- Dear Traders, USOIL is moving in downtrend channel, and rejected from the last support zone, we need breakout for the previous weekly low then the next oil target will be lower to 72/71 zone, or to go long we need to breakout the downtrend channel with more confirmations to be determined later. Shortby Hassanberjawi2
OIL: DAY 3 SHORTS 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” Let’s jump into the Technical Analysis: WEEKLY TEMPLATE (1hr chart): Since the previous week, we can see how this market potentially could complete the big template of pump and dump, scenario still possible if setup correctly. OIL market triggered shorts breakout traders in, typical a signal of potential strong move. DAILY TEMPLATE (15min chart): Asia session broke down into the LOW, reversing sharply in London session (pump). Currently this market is not in an interesting level to buy or sell. THESIS : Short: considering the weekly pump and dump not completed yet, I can see this market going lower, stopping all the traders long since the last week. Long: however, day 3 shorts in the market, in the new weekly cycle, can be a good reversal signal, going to stop traders short from Monday. SETUP : Short: price pumping up back to the previous HOD, consolidating for 30/45 min and dump (after the news release) Long: Market dropping down at least into the previous CP, or LOD/LOW, consolidating for a pump (this scenario is mostly likely happing on tomorrow, which is closing range of the week) 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. Gianniby GianniPichicheroUpdated 6613
Oil Prices Dip Amid Rising U.S. Inflation and Steady OPEC DemandOil prices fell early Tuesday following a report that U.S. inflation increased more than anticipated, diminishing prospects for a reduction in U.S. interest rates. Meanwhile, OPEC maintained its positive demand forecast for 2024. West Texas Intermediate crude for June delivery decreased by $0.47 to $78.65 per barrel, and July Brent crude, the international standard, dropped by $0.46 to $82.90. The U.S. Bureau of Labor Statistics reported that the producer price index (PPI) for April rose by 0.5% from March, a higher increase than the previous month's 0.3% and surpassing the predicted 0.3%. The core PPI, which excludes food and energy, climbed 0.4%, exceeding both the previous month's 0.2% and the anticipated 0.2%. This data, indicating that U.S. prices are continuing to rise beyond the Federal Reserve's 2% target, lessens the likelihood of a rate cut from the current 23-year highs before the end of the year. The U.S. consumer price index for April, expected to show a 3.4% annual increase down from 3.5% in March, will be released on Wednesday. The price already dropped as we mentioned in the previous idea, and still trading at the bearish zone to reach 75.35. so the bearish trend suggestion will continue as long as trades under 78.78 toward 76.60 and 75.35 the price will move between 80.73 and 75.35 for this week Pivot line: 78.78 Support lines: 76.60, 75.35, 69.78 Resistance lines: 80.73, 82.24, 83.75 previous idea: Shortby SroshMayiUpdated 13
WTI OIL Strong rejection on 1D MA200 but be aware of a break-outWTI Oil (USOIL) made yesterday a strong rejection on the 1D MA200 (orange trend-line), which has been essentially the Resistance since the price broke below it on May 01. Having this level as a Resistance for 3 weeks makes it the strongest sell entry candidate, considering also the fact that this is the top of the 1-month Channel Down, thus a new Lower High. As long as we don't close a 1D candle below the 1D MA200, we will be bearish, targeting 74.00 (-7.75% decline, similar to both previous Bearish Legs of the Channel Down). If we do close a 1D candle above the 1D MA200, we will take the small loss and target 83.00 (the 2.0 Fibonacci extension). The reason for being prepared for a long position as well, is because the 1D MACD formed a Bullish Cross. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇by TradingShot10
USOIL Will Go Lower From Resistance! Sell! Here is our detailed technical review for USOIL. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 79.46. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 77.06 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!Shortby SignalProviderUpdated 113
USOIL enjoys relief but has an uneasy path ahead of itWest Texas Intermediate crude oil trades near $79.80 per barrel, which happens to be slightly below the 20-day SMA and the lower bound of the ascending channel. A breakout above the moving average will bolster a bullish case for oil in the short term, especially if the price closes above the 20-day SMA for multiple consecutive days; the same applies to a breakout above the channel’s lower bound. Once the 20-day SMA is broken, $80.44 and $82.25 are important resistance levels to watch out for. However, a rejection at the moving average and channel’s bound will be somewhat concerning, potentially foreshadowing further stagnation around the current price or return of weakness. Illustration 1.01 Illustration 1.01 displays simple support and resistance levels derived from past peaks and troughs. Illustration 1.02 The daily MACD of USOIL is shown above. The yellow arrow indicates a bullish crossover between the MACD line and the signal line. However, it is important to emphasize that MACD is still within the bearish area below the midpoint. Technical conditions Daily time frame = Bullish Weekly time frame = Neutral Monthly time frame = Neutral Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor or any other entity. Therefore, your own due diligence is highly advised before entering a trade.Longby Tradersweekly7
Crude Oil Battles to Break Through Key Support ZoneHello There, Technical Outlook: Crude oil prices have been locked in a tug-of-war around a critical support area, testing the 76.253 level twice in recent trading sessions. Despite the downward pressure, the commodity appears poised to make a push higher, according to RSI levels. The 77.082 - 76.253 zone has emerged as a key support area, and a higher low above this range could signal the start of a bullish trend. A potential move higher could see prices stretch up to test supply levels. If prices can establish a higher low above that zone, it would lay the groundwork for a bullish breakout and a push toward the upside. However, the setup would be invalidated if prices were to fall below the 75.324 red line. Overall: If the price gains the momentum to hold above the key support zone, it could set the stage for a sustained rally, but a breakdown below 75.324 would likely signal a shift in the overall market sentiment ending the range in the Weekly timeframe. Fundamental Points: Oil prices went down because: There's too much oil being produced and not enough being used Inflation (prices going up) in the services sector (like healthcare, education, and finance) might stay high for a while This means interest rates (the cost of borrowing money) might stay high for longer than expected There's now more oil stored in tanks than expected, which is also causing prices to fall Happy Trading, K. Longby KhiweUpdated 2
OIL W. LongI expect oil to rise in the next few weeks. On the daily chart we see liquidity (circles) and a very very strong saport at 77.40. I expect oil to start rising from 78.09 or the aforementioned 77.40. At each level I will watch the Order Flow Chart. in case you don't have O.F.CH. so watch the level if the price closes above or below the level it will tell you if the price will continue to the level above or below. In case the price falls below 77.40 and closes below this level we are looking at lower levels which are shown in the chart. I wish you lots of rich success and don't forget about money management because it is the only way to make money .-) Rocket will be very pleased and will motivate me to further public analysis. Longby wennousUpdated 10
WTI, back at major order block support -- BOUNCE expectedWTI is currently sitting at below 0.5 FIB level on a weekly data -- a key area where most buyers converge. $65-70 area has been quite a solid order block support. It has been tested many times and oil keeps bouncing up from this range. A bounce is expected from current price range. Accumulation has notably started increasing at the present levels. Spotted at 69.0 TAYOR. Safeguard capital always. -------- RELATED NEWS: Reuters Oil prices settle more than 3% higher after China rate cut By Stephanie Kelly NEW YORK, June 13 (Reuters) - Oil prices climbed over 3% on Tuesday on hopes for growing fuel demand after China's central bank lowered a short-term lending rate for the first time in 10 months, boosting crude prices after steep losses the previous session. The rate cut is aimed at adding momentum to a hesitant post-pandemic recovery in the world's second-largest economy and biggest crude importer. Brent crude futures settled up $2.45, or 3.4%, to $74.29 a barrel. U.S. West Texas Intermediate (WTI) crude gained $2.30, or 3.4%, at $69.42 a barrel.Longby JSALUpdated 565644
USOIL: Multi-Timeframe Analysis | Strong Setup FormingI've been exploring through different markets over the past few days, and one thing that really caught my attention was TVC:USOIL So, I decided to share my thought process of how I analyze any market from a top-down perspective while using all timeframes to create a bias. Top-down analysis is always the key element of how I approach any market. This way of viewing the market has really helped me to remove subjectivity when analyzing a pair. Instead of relying on my personal view, I can confidently rely on what the market is showing me regarding trend and zones. Adopting a mechanical perspective has genuinely helped to remove doubt and fear in my overall trading. Now let's get into the top-down process: 12M: 6M: 3M: 1M: 2W: 1W: 1D: Feel free to suggest which market you'd like me to cover next!Longby FractalystUpdated 9
The pros' next week analysis and strategy for crude oilMarket Analysis: Crude Oil Price Signal Bearish Acceleration Crude oil prices declined steadily below the $80.00 support and moved into a bearish zone. Important Takeaways for Oil Prices Analysis Today Crude oil prices extended downsides below the $78.00 support zone. A major bearish trend line is forming with resistance near $78.00 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to continue higher above $80.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $78.00. There was a steady decline below the $77.40 pivot level. The bears even pushed the price below $76.50 and the 50-hour simple moving average. Finally, the price tested the $76.30 zone. The recent swing low was formed near $76.31, and the price is now consolidating losses. Immediate support is near the $76.30 level. The next major support on the WTI crude oil chart is near $75.00. If there is a downside break, the price might decline toward $73.50. Any more losses may perhaps open the doors for a move toward the $72.00 support zone. On the upside, immediate resistance is near the 23.6% Fib retracement level of the downward move from the $78.52 swing high to the $76.31 low at $76.80. The next resistance is near the 50-hour simple moving average and the 50% Fib retracement level of the downward move from the $78.52 swing high to the $76.31 low at $77.40. The main resistance is near a trend line at $78.00. A clear move above the trend line resistance could send the price toward $79.05. The next key resistance is near $79.90. If the price climbs further higher, it could face resistance near $81.20. Any more gains might send the price toward the $82.00 level. by Joe-ChigoraUpdated 2
USOIL WTI: Bullish Momentum Ahead? - May 8, 2024Hey traders! 📈 Let's discuss the current outlook for USOIL WTI: 🔍 Technical Insight: We've observed a compelling development in the WTI market as it recently touched the lowest point within the current uptrend channel, dipping below the golden pocket levels. This move prompts a closer examination of the prevailing market dynamics. 📊 Daily Timeframe Perspective: Zooming out to the daily timeframe, the overarching trend remains bullish, reflecting the resilience of the oil market. However, it's crucial to note that a consolidation phase appears to be underway. Such periods of sideways movement often precede significant price actions. 🔄 Awaiting Breakout Momentum: One notable aspect in recent days is the absence of substantial price movements, typically characterized by WTI's propensity for $3 or greater swings. This prolonged consolidation phase suggests that a significant move may be expected in the upcoming days. 💡 Anticipated Market Activity: Given the historical tendencies of WTI, we anticipate a breakout from this consolidation phase in the near future. Such a move could potentially signal the resumption of bullish momentum or a reversal in the prevailing trend. 📈 Trading Strategy Consideration: For traders, exercising patience while monitoring price action for signs of breakout momentum is paramount. Deploying appropriate risk management strategies and remaining adaptable to evolving market conditions can help navigate uncertainty. 🔔 Key Takeaway: As we await clarity on WTI's next directional move, it's essential to stay vigilant and prepared to capitalize on emerging opportunities. Whether it's a continuation of the uptrend or a reversal, flexibility is key to navigating the dynamic oil market. 🛢️ Closing Thoughts: In conclusion, while the current consolidation phase may signal a temporary lull in market activity, the potential for a significant move looms on the horizon. Keep a watchful eye on price developments and be ready to adjust your trading strategy accordingly. Longby ExpateUpdated 8
Fundamental & Technical analysis on USOILMay 20th 2024 Fundamental: Were seeing a up tick in Non-comm Long and Short positions being held. Shorts are increasing at a faster pace. The Net positions is positive and holding steady. Commercial (Hedgers) short positions is increasing significantly quicker then Longs, Net position is negative and decreasing/holding. Technical: I'm expecting to see consolidation for the coming week/s between 78-81 with price action making a lower high causing a fake EMA cross over to the upside and setting its self up for more down side. Entry Criteria: For me to consider a entry i have to keep seeing Short positions increase for both Non-comm and Comm in the coming weeks as well as Non-comm Longs decreasing. Ideally for Price action i want to see USOIL consolidate then make a lower high before its leg down (BLUE), there's the possibility it makes the lower high without consolidating (RED) but I do need to see the 5 EMA cross down the 20 EMA while Momentum is negative and the Stochastic is crossing down 50%Shortby IateyourcroissantUpdated 1
DONT SHORT CRUDE NOWCRUDE LONG WITH LOWER STOPLOSS as we can see strong RSI divergnace on chart . so crude gonna shoot like anything . now crude is on 76.60 view invalid below 75 upper side it can show 82-85 by this month Longby ParasharK333
WTI on the way to 29$The price of American WTI oil is set to fall dramatically over the next few years. The target is in the region of USD 29. Only then is the price likely to move north again.Shortby Elliott-Waves-2_02
OIL can go long in these positions, today’s analysis and strategCrude oil technical analysis Daily resistance is 79-81, support below is 76.8-75 Four-hour resistance is 79-80, and support below is 78.3-76.8 Crude oil operation advice: Crude oil still fluctuated widely yesterday, with the lowest backtest of 78.2 starting to stabilize, and the highest hitting 79.8. Then it fell sideways, and after reaching near the previous high, it failed to break through directly, and continues to fluctuate upward today. The overall price has stabilized at the 78 mark and continues to operate in a wide range of long and short shocks. Today, we will continue to focus on the vicinity of 79-79.6. If we break through this position during the day, we will continue to be bullish first. The short-term pressure above will focus on 79.6. Once the daily line firmly holds the 79.6 mark, we can see a big rise. BUY:78.3near SL:78.00 BUY:79.0near SL:78.70 BUY:79.6near SL:79.30 Technical analysis only provides trading direction! Longby ActuaryJUpdated 3
USOIL Technical Analysis! SELL! My dear friends, USOIL looks like it will make a good move, and here are the details: The market is trading on 77.75 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 77.07 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK Shortby AnabelSignals113
WTI CRUDE OIL: Neutral on 4H but at the top of the Channel Down.WTI Crude Oil is neutral on its 4H technical outlook (RSI = 44.657, MACD = -0.100, ADX = 42.834) as it has been trading sideways since the start of the month. Nonetheless, it got rejected yesterday at the top of the Channel Down and the 4H MA100, was where it got rejected last time on April 26th. We are short, aiming a the 1.5 Fibonacci extension (TP = 73.20). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##Shortby InvestingScope7
OIL & OPEC CutsOPEC cuts lead to lower oil, not higher oil prices. That is why they are cutting . If Global demand was there they would not be cutting they would be selling as much as they can at higher prices. I see too many people get this backward.by RealMacroUpdated 10010069
USOIL - Inverted Head & Shoulders: Formation of 2nd shoulderUSOIL is ready to make its 2nd shoulder, if it succeeds then you guys can grab a handsome profit from this trade. Check my chart to get more idea about Long position holding.Longby zohaibkurdofficial5
21/5 Oil Trading Plan Oil continues to buy at low levels NYMEX:MCL1! NYMEX:CL1! BLACKBULL:WTI Longby AA_JackUpdated 6