crude oilCrude oil is currently on main wave B of an A,B & C correction, pair has completed sub-wave A & now its currently on towards sub-wave B is about to be confirmed as pair is expected to breakout towards minor-wave 5 of sub-wave C on main wave BLongby Nhlanhla_luck_IV3
USOil short term Bullish and long term Bearish**Monthly Chart** USOil last monthly candle created a swing high with a Ring high formation which indicates a continuation of the bearish trend as it bounced from a key level at around 87.60. This month the price opened from the low of the previous candle and continues to move lower. The next level is around 70.00 and then 66.60. **Weekly Chart** The last weekly candle closed bearish which has created a different opinion on whether USOil price might continue moving lower after breaking the soft support level or bounce from it at around 75.90. **Daily Chart** I am seeing short-term bullish to break the equal highs above 80.00 level before continuing the move lower. Therefore, my long-term bias is still bearish for USOil. The plan for this week. I will only react near the low and high of the levels that I marked. Plus I will look for a confirmation candle (some calls it insurance candle).Shortby PropSignals4
OIL will going up around 83Oil will going up aroung 83, Buy now. we can see Oil has Descending Braodening Wedge Pattern.Longby EdyDragon4
Crude oil continues to run in the 77~80 rangeCrude oil continues to run in the 77~80 range, waiting for a breakthrough, continue to sell high and buy low Crude oil technical analysis Daily resistance 79-80, lower support 76.8 Four-hour resistance is 79-80, and support below is 77-76.8 Crude oil operation advice: Crude oil was under pressure at the 79.2 mark yesterday and ushered in a weak and volatile downward breakthrough. The Asian and European prices fluctuated sideways and came under pressure near the 79 mark, then fell back and fell rapidly, falling back to a weak rebound near 78.2. NY time was under pressure at the 79 mark and ushered in an accelerated decline. Finally, the price fell to around 77.6 and stabilized. The overall price appears to be suppressed at the 79 mark. Short-term oil prices continue to show a daily red-green cycle rhythm. Today, the lower support focuses on 77.2-77, and the upper pressure focuses on 79.5-80. The day will continue to rely on this range to maintain a wide range of long and short shocks. The watershed between short-term long and short strength still focuses on the 80 integer mark. Before the daily level reaches 80, it will continue to maintain long and short shocks between 77 and 80. BUY:77.0 near SL:76.70 BUY:76.8 near SL:76.40 BUY:79.6 near SL:79.30 Technical analysis only provides trading direction! Longby ActuaryJUpdated 6
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
USOIL/WTI - LongBullish divergence on 1H, 4H, 1D Trendline breakout Entry on retest at Fib 0.5Longby Mibbro2
Worth a look at crude oil analysis with recommendationsOil will going up aroung 83, Buy now. we can see Oil has Descending Braodening Wedge Pattern.by Serrano-DaveyUpdated 2
Short Crude OilOn Daily Chart and 4H chart we created the megaphone(broadening formation) so I would check the top boarder of the formation and look for breaking market structure. Shortby rafael_kyrdanUpdated 2
WTI New Trend BeginningWe can see on the 4H that the downtrend has been broken, waiting for a confirmed retest of the old trendline before entering. We could see consolidation for a little while however. Swing trade.Longby Pottz7772
UsOil longUsoil looks for more buy momentum use Stop-loss we have entered after confirmation only in this pair so it may slow process but sure processLongby DNA_Trader_Officials2
USoil will further push Down-side After Testing TrendlineHello Traders In This Chart XTIUSD HOURLY Forex Forecast By FOREX PLANET today XTIUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartsLongby ForexMasters20003
US OILWe are starting to see the early signs of seasonal tendencies across all markets. Price took out the 76.84 low (Turtle soup) on which it is acting as a support currently. The consolidation we are currently in will most likely be broken in the next week and we will look for an entry long on the lower TF as well. Target 1 coming in at 82.05, Target 2 at 84.42 and Target 3 at 87.59 More updates to followLongby Anele_888Updated 8
USOILWe can attempt to buy USOIL from specified level as it break LH , also bullish divergence occur indicate that it move upward . SL , TP mention in chart.Longby SignalEdge2
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
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: LONGToday's session marks the beginning of the bullish move higher to test the April 2024 WTI highs. The ultimate target seems to be around the 85.00 - 87.00 region. This move begins now and may possibly extend to the end of June or early July. The stop loss should be around the at least be 77.90. Stay tuned for updates.Longby ZAR_Republic3
USOIL: Short-term oil prices are on the way to recovering to $80USOIL: Short-time period oil fees are at the manner to convalescing to BSE:EIGHTY because the marketplace is presently watching for the subsequent OPEC+ meeting. However, the chance of a lower is fantastically excessive due to the fact OPEC+ nations have nearly all showed the growth in production. This will probably reason oil fees to drop even lower. Consider ready to promote with USOIL around BSE:EIGHTY with the anticipated goal to go back to $75-76Longby Chart_MasterPro3
WTI or USOhello everyone... the price reach the main resistance area as well reached the resistance downtrend line...price will likely pull back to support area... with today news of crude oil show high number of oil inventories. based on fundamental and technical, we should see some pull back for now... good luckShortby baigxyUpdated 5
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
US/UK OILClear descending wedge on a weekly/daily structure, looking for a retest of previous resistance for entry. Break on trend line or 8 daily ema may mean a change of trendLongby kakashicrypto2
Crude bouncesCrude oil has put in quite a turnaround over the last couple of trading sessions. At the end of last week, Brent and WTI had sliced through support and looked as if they were set to head lower. Both had broken down through the lower ends of their respective trading ranges that had been building since the beginning of this month. But prices suddenly turned higher and Brent and WTI are now comfortably back within their ranges once again. This has seen front-month WTI head back towards $80 per barrel, a level which has held as resistance this month. The daily MACDs on both contracts have been in oversold territory since early this month. But these had flattened out recently and turned higher, suggesting a rally could be on the cards. Well it has now happened, but not before support there was a break of significant support. There are meetings between OPEC and OPEC+ members this coming weekend. The expectation is that the group will extend its current production cuts from June through to the end of September. Before then, there’s an update on the Fed’s preferred inflation measure, Core PCE. This has the potential to upset investors if it were to come in above expectations, and thereby reduce the possibility of Fed rate cuts this year. by TylerNorcross2
Crude Oil Back at Pivotal SupportWTI is back at a major support pivot we've been tracking for months now at 77.56/67 . A weekly close below this threshold would be needed to invalidate the yearly uptrend and exposes a possible plunge towards 75.33 and the yearly Low-day close at 72.93 . Key resistance steady at the 200-day moving average / 38.2% retracement at 79.89-80.01 . Moment of truth for the bulls - watch the weekly close here. . Michael Boutros @MBForexby FOREXcom4
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