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WTI H4 | Potential bearish reversalWTI oil (USOUSD) is rising towards an overlap resistance and could potentially reverse off this level to drop lower towards our take profit target. Entry: 72.687 Why we like it: There is an overlap resistance level Stop Loss: 74.111 Why we like it: There is an overlap resistance that lies above the 50.0% Fibonacci retracement level Take Profit: 67.958 Why we like it: There is a swing-low support level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:USOUSDShort
by VantageMarkets
WTI H4 | Headwinds loomingWTI oil (USOIL) is trading close to an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 72.264 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 75.089 which is a level that aligns with the 61.8% Fibonacci retracement level and sits above an overlap resistance. Take profit is at 68.235 which is a swing-low support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
CRUDE OIL (WTI): Technical Outlook & Trading Plan 🛢 Crude Oil is currently testing a solid horizontal supply area on a daily. Analyzing a 4H time frame, we can spot that the market is currently weak & consolidating. I see an example of a classic inside bar formation. 71.4 is the lower boundary of the range of the mother bar. Its breakout - a 4h candle close below will be a strong bearish confirmation. A bearish movement will be anticipated to 70.1 level then. Alternatively, a bullish breakout of the underlined resistance will push the prices higher. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
8
WTI BULLISH OUTLOOK AND POSSIBLE STRATEGIESWith recent market dynamics, the oil trading landscape has witnessed significant shifts, presenting traders with lucrative opportunities. Here are actionable strategies tailored to capitalize on these developments. 1. Fed's Dovish Stance and Demand Surge: The Federal Reserve's dovish outlook coupled with the International Energy Agency's upgraded oil demand forecast signals a potential uptick in oil consumption. This suggests a bullish trend for oil prices. Traders could consider entering long positions or call options in anticipation of a sustained price increase due to heightened demand projections. 2. OPEC's Tightening Supply Scenario: OPEC's report highlighting a potential deficit in the oil market, especially if OPEC+ production cuts persist, indicates a tightening supply situation. Traders may benefit from this by leveraging the anticipated supply shortage. Long-term positions or bullish spreads might be favorable strategies to capitalize on the potential price rally resulting from constrained supply. 3. Declining U.S. Oil Inventories and Weakening Dollar: The Energy Information Administration's data revealing a substantial drop in U.S. oil inventories, alongside the weakened dollar, strengthens the bullish sentiment. Considering the reduced supply and increased affordability of oil due to the dollar's decline, traders could explore long positions or bullish futures contracts to align with the rising prices. 4. Geopolitical Tensions in the Middle East: Ongoing geopolitical tensions in the Middle East, particularly recent attacks on vessels, add to the uncertainty surrounding oil supply. Traders might view this as an opportunity for short-term gains through cautious but strategic investments, keeping an eye on potential supply disruptions that could trigger price spikes. In conclusion, recent market developments indicate a favorable landscape for bullish trading in the oil market. Traders can consider adopting long positions, call options, or bullish spreads to capitalize on the projected increase in demand, tightening supply, weakened dollar, and geopolitical uncertainties. However, it's crucial to stay informed and adaptable to swiftly respond to evolving market conditions for optimal trading outcomes. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTILong
by legacyFXofficial
WTI CRUDE OIL Buy and target the 1day MA50.WTI Crude Oil / USOIL is inside a Channel Down but the bearish strength is fading as a Falling Support has been formed while the 1day RSI Double Bottomed. At the same time the 1day MACD is about to form the 2nd Bullish Cross in less than a month. The very same (Channel Down) pattern was trading back in June - August 2022, with the same bullish divergence and MACD Bullish Cross. The price bottomed on that Cross and rebounded to test the 1day MA50. Buy and target again the 1day MA50 with an early target estimate being 77.00. Previous chart: Follow us, like the idea and leave a comment below!!
TVC:USOILLong
by TheCryptagon
1
WTI Crude oil trade analysis Oil prices are falling due to US Consumer Price Index (CPI) data. Both headline and core inflation data were stagnant, suggesting that U.S. inflation is not accelerating or declining rapidly, while inflation is falling in Europe and other major regions. The outlook for oil in 2024 is bleak as the supply glut is too large to be replenished in the short term. Judging from the daily chart of crude oil, since the second rebound failed in late October, oil prices have continued to fall, eventually forming a downward trend. Oil prices have hit August lows of 77.80. Oil prices showed a slight fluctuation pattern around the low point, forming a flag-shaped relay pattern. Oil prices managed to break below the lower edge of the flag pattern and followed the trend downward towards the flagpole. In the medium term, oil prices are expected to rebound. to around 65.
TVC:USOILShort
by Jerome-Leon
USOUSD D1 | Approaching pullback supportUSOUSD is falling towards a pullback support and could potentially bounce off this level to rise towards our take-profit target. Entry: 67.038 Why we like it: There is a pullback support level Stop Loss: 64.192 Why we like it: There is a multi-swing-low support level Take Profit: 72.437 Why we like it: There is a pullback resistance level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:USOUSDLong
by VantageMarkets
1
WTI CRUDE OIL Strong buy signalWTI Crude Oil is rebounding after breaching marginally under the 0.786 Fibonacci. That is the retracement level of the ranged price action long-term in the last 12 months. Symmetrically, it is a strong rebound level as witnessed on the December 9th 2022 low. Trading Plan: 1. Buy on the current market price. Targets: 1. 77.50 (projected contact with the MA50 (1d)). 2. 81.50 (0.5 yellow Fibonacci like the Jan 3rd and 23rd Highs). Tips: 1. The RSI (1d) has triple bottomed. Rarely you get a stronger buy signal than that. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOILLong
by TradingBrokersView
1
WTI BEARISH OUTLOOKOil prices saw a decline due to skepticism about OPEC+'s output cuts and concerns over growing supply overshadowing potential disruptions in the Middle East. U.S. crude settled 1.4% lower at $73.04 a barrel, and Brent dropped 1.1% to $78.03 a barrel. Despite announcements of output cuts, the lack of confidence in compliance and doubts about measurement methods have cast shadows on the effectiveness of these measures. Geopolitical events, such as attacks in the Red Sea, have revived concerns about potential disruptions to Middle Eastern oil supplies, amplifying market anxieties. Additionally, fears of decreased demand and weak global manufacturing activity in November added pressure on prices. Technical indicators signaled bearish sentiment, indicating possible support levels at $66.78 and a potential rebound around $74.75. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTIShort
by legacyFXofficial
WTI BULLISH OUTLOOKOil prices surged during the latest OPEC+ meeting discussions, showcasing a 1.2% rise in U.S. crude futures at $78.77 per barrel and a 1.1% climb in Brent crude to $83.78 per barrel. The market buzzed with expectations of deeper output cuts, despite existing pledges from OPEC+ members to cut global oil output by about 5 million barrels per day. The delay in the meeting, prompted by African nations contesting their 2024 production targets, fueled speculations of potential additional cuts. Amidst bearish U.S. crude inventory data and concerns over China's slowing economic growth affecting oil demand, the market maintained a positive outlook. Analysts hinted at the possibility of expanded supply reductions beyond existing voluntary measures, with the potential of an added 1.0 million barrel-a-day cut to stabilize oil prices. However, caution lingered about a "buy the rumor-sell the fact" scenario, and technical indicators pointed towards a trend reversal, indicating a potential retreat to $73.91 if the current bullish trend eases. Overall, the oil market remained buoyant on prospects of increased output cuts by OPEC+ members, brushing aside bearish inventory reports and economic slowdown worries. The discussions continue to shape the market trajectory, showcasing a delicate balance between supply and demand dynamics in the energy sector. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTILong
by legacyFXofficial
WTI H4 | Rising into resistanceWTI oil (USOUSD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower towards our take profit target. Entry: 78.506 Why we like it: There is a pullback resistance level Stop Loss: 81.725 Why we like it: There is a pullback resistance that aligns with the 50.0% Fibonacci retracement level Take Profit: 72.437 Why we like it: There is a swing-low support level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:USOUSDShort
by VantageMarkets
WTI OIL Excellent buy opportunity.WTI OIL (USOIL) has been trading within a long-term Rectangle since the August 30 High. This is most accurately displayed by the use of the Fibonacci retracement levels where we can see that the majority of the price action has been within the 0.236 - 0.618 Fibonacci range. We call that the "High Volatility Zone". On November 16 the price almost hit the bottom of that Zone and since the 1W MA200 (red trend-line) is just below and has been the long-term Support (hasn't closed a 1D candle below it since January 29 2021!), we consider the commodity to have significant upside potential. On top of that, the 1D RSI has Double Bottomed on the oversold barrier of 30.00 (where it always gave strong rallies on May 04 2023, March 17 2023, December 09 2022 and September 26 2022) while the 1D MACD formed a Bullish Cross (with all such crosses below the 0.00 mark being a buy signal). We are bullish at least for the short-term, targeting the 0.5 Fibonacci level at 80.50, expecting also a potential contact with the 1D MA50 (blue trend-line). ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
2
Crude oil looks set to bounce ahead of OPECWith oil prices having fallen around -25% from the September high, a correction higher may be due. And as prices failed to hold beneath $70, Wednesday's bullish hammer (which is also a higher low) has caught out eye). The hammer was coupled with above-average volume to suggest demand around $75, and the initial break below $70 was seen on strong negative delta (more sellers than buyers) which means the subsequent move higher likely forced them to cover and reconsider their direction. A move towards $75 could help improve the reward to risk ration for an anticipate move to $80, a break above which brings $82 into focus just beneath the January and April highs.
NYMEX:CL1!Long
by CityIndex