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Crude Oil

WTI rises to test major resistance WTI has risen in the last couple of weeks after staging an oversold bounce from around the key $65.00 long-term support level at the start of the month. However, it is now testing a key resistance area between $69.15 - $70.00 range, which is where WTI last sold off from. It is a pivotal zone. Given the underlying long-term bearish trend, I am more inclined to look for bearish setups to form here, than to chase this move higher. However, that being said, I would have to drop my short-term bearish bias in the event WTI were to break decisively above $70.00 level in the days ahead. By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:USOIL
by FOREXcom
Technical Analysis for WTI Crude Oil (Daily Chart)Current Price Action WTI crude oil is trading at $70.51, showing a recovery from the Liquidity Pool zone near the $66.00–$67.00 range. The price has approached a key resistance level around $71.00, which aligns with a previous area of rejection in February 2025. The chart suggests a potential pullback from this resistance level, as indicated by the projected downward arrow. Support Levels: $66.00–$67.00: This zone represents a significant liquidity pool where buyers have consistently stepped in, leading to a reversal in price. $65.00: A psychological support level and the lower boundary of the liquidity pool. Resistance Levels: $71.00: A critical resistance level that has acted as a ceiling for price action in recent months. $73.00: The next major resistance level if the price breaks above $71.00. Volume Profile Analysis The Volume Profile on the right side of the chart shows significant trading activity between $70.00 and $71.00, indicating strong resistance in this area. Above $71.00, the volume thins out, suggesting that a breakout could lead to a rapid move toward $73.00. Indicators and Momentum Trend: The price is recovering from a bearish trend but remains below the highs of $80.00 seen earlier in the chart. The current move appears to be a retracement within a broader downtrend. Potential Pullback: The projected arrow on the chart suggests a possible rejection at $71.00, with a pullback toward the $68.00–$69.00 range. Market Sentiment The chart reflects cautious optimism, with buyers stepping in at lower levels but facing strong resistance at $71.00. A breakout above this level could signal a shift in sentiment, while a rejection would confirm the continuation of the bearish trend. Conclusion WTI crude oil is at a critical juncture, testing the $71.00 resistance level. Traders should watch for a breakout above $71.00, which could target $73.00 and higher. Conversely, a rejection at this level may lead to a pullback toward the $68.00–$67.00 support zone. The liquidity pool near $66.00 remains a key area for buyers to defend in the event of further downside.
PEPPERSTONE:SPOTCRUDE
by fxtraderanthony
CRUDE OIL Will Go Up After Pullback! Buy! Hello,Traders! CRUDE OIL is trading in a Local uptrend and the price Made a strong bullish breakout Of the key horizontal level Of 68.40$ so after a pullback And a retest of the new support We will be expecting a further Bullish move up Buy! Comment and subscribe to help us grow! Check out other forecasts below too! Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TVC:USOILLong
by TopTradingSignals
1
Today analysis for Nasdaq, Oil, and GoldNasdaq The Nasdaq closed higher, forming a gap up on the daily chart. It showed a strong, one-directional rebound up to the 5-week moving average on the weekly chart. Since the 5-week MA overlaps with the 60-week MA, it's unlikely to break through easily without a short-term correction. On the daily chart, the MACD has formed a golden cross, meaning that even if a pullback occurs, the strategy should remain buy-on-dip oriented. There is still an open gap down to 19,960, which could be filled at any time—so it's important to consider the possibility of a retest of that level. If the gap is filled, that area could be a good support zone to buy from. On the 240-minute chart, strong buying momentum entered around the zero line, confirming a breakout after basing in a range. Therefore, buying on pullbacks remains the preferred approach in this structure. Crude Oil Crude oil continued its upward move, closing higher on the daily chart. With strong support around the $68 level, the market could potentially rise toward the $70 zone, and possibly test resistance between $70–$71, which is a key area to watch closely. Overall, traders should continue to buy on dips, but be cautious with chasing long positions above $70. If taking short positions, they should be managed with tight stop-losses. On the 240-minute chart, oil appears to be in the midst of a third wave rally, so any short positions should be considered above $70, while buying pullbacks remains valid. Current Middle East tensions and U.S. sanctions on Venezuelan oil are contributing to a supply risk premium in oil prices. Since the market is recovering from the lows and showing a positive technical setup, short trades should be managed carefully with proper risk control. Gold Gold closed lower, remaining within its range-bound structure. On the daily chart, gold is currently trading between the 3-day and 5-day MAs above, and the 10-day MA below, forming a narrow consolidation zone. This makes sell-at-highs and buy-at-lows strategies effective. Since there's room for a pullback to the 5-week MA on the weekly chart, chasing longs is not advised. If the MACD crosses below the signal line, this could create a bearish divergence, leading to potential sharp downside, so caution is warranted. On the 240-minute chart, the MACD is failing to break above the signal line and continues to decline. However, since the signal line remains above the zero line, a rebound attempt is likely, even if the MACD dips below zero. Given the current slope and distance, it's unlikely that a golden cross will form soon. Also, traders should keep in mind that major economic data such as GDP and PCE reports are scheduled later this week, which could influence market direction. If you can understand the daily chart structure, you can better anticipate intraday high/low ranges and potential wave patterns. Make it a habit to perform thorough daily chart analysis each day, and prepare a trading scenario that suits the market’s behavior. As always, questions are welcome. Wishing you a successful trading day! If you like my analysis, please follow me and give it a boost! For additional strategies for today, check out my profile. Thank you!
CME_MINI:NQ1!
by Futureguard
Market Analysis: WTI Crude Oil Face HurdlesMarket Analysis: WTI Crude Oil Face Hurdles Crude oil is attempting a recovery wave but upsides could be limited. Important Takeaways for WTI Crude Oil Price Analysis Today - WTI Crude oil prices started a recovery wave from the $66.00 support zone. - There is a key bullish trend line forming with support at $67.50 on the hourly chart of XTI/USD at FXOpen. WTI Crude Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price remained in a bearish zone below the $70.00 level against the US Dollar. The price started a fresh decline below the $68.00 support. The price even dipped below the $67.50 level and the 50-hour simple moving average. Finally, the bulls appeared near $66.00 and the price started a recovery wave. The price recovered above $67.50 and tested the $68.50 zone. The price is now consolidating gains below the 23.6% Fib retracement level of the upward move from the $66.54 swing low to the $68.48 high. There is also a key bullish trend line forming with support at $67.50. If there is a fresh increase, it could face resistance near the $68.30 level. The first major resistance is near the $68.50 level. Any more gains might send the price toward the $69.20 level. The main resistance could be near the $70.00 level. Conversely, the price might continue to move down and revisit the $67.50 support and the 50% Fib retracement level of the upward move from the $66.54 swing low to the $68.48 high. The next major support on the WTI crude oil chart is $67.00. If there is a downside break, the price might decline toward $66.55. Any more losses may perhaps open the doors for a move toward the $66.10 support zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
1
USOIL BREAKOUT FROM THE WEDGE|SHORT| ✅CRUDE OIL is trading in a Downtrend and the price broke Out of the bearish wedge pattern And the breakout is confirmed Because the 4H candle closed Way below the wedge's support So we are bearish biased and We will be expecting a Further bearish move down SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
 
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TVC:USOILShort
by ProSignalsFx
1
Crude oil turns lower on Putin-Trump callBoth oil contracts are now lower on the day, giving up earlier gains. From the day's high, WTI is now 2.8% lower and counting as prices test the day's lows. Oil prices moved lower on hints/hopes of peace from the just-finished Trump & Putin talks. The rationale here is that any peace progress would increase the chances of removing sanctions on Russian oil shipments, increasing global supplies. WTI has held the trend resistance and old support-now-resistance at $68.45. The inverted daily hammer candle, if completed, would point to more weakness in the days ahead. As such, we could see prices dip down to test waters below recent lows of just north of $65.00 handle - a level last tested back in September 2024. A potential break below that could pave the way for a test of the May 2023 low of $63.60. By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:USOIL
by FOREXcom
Will Oil Prices Ignite Amid a Middle East War?The global oil market is critical, with geopolitical tensions in the Middle East potentially leading to significant price fluctuations. Recent military actions by the U.S. against Yemen's Houthi group have contributed to rising oil prices, as Brent crude futures reached $71.21 per barrel and U.S. West Texas Intermediate crude futures hit $67.80 per barrel. Positive economic indicators from China, including increased retail sales, have supported oil prices despite global economic slowdown concerns. The Middle East remains a focal point for oil price volatility due to its strategic importance in global oil supply. Iran, a major oil producer, could face disruptions if tensions escalate, potentially driving prices higher. However, global spare capacity and demand resilience might cap long-term increases. Historical events like the 2019 Saudi oil facility attacks demonstrate the market's sensitivity to regional instability, with prices spiking by $10 following the incident. Analysts predict that if the conflict escalates to close the Strait of Hormuz, oil prices could exceed $100 per barrel. Nevertheless, historical data suggests that prices may stabilize within a few months if disruptions prove temporary. The delicate balance between supply shocks and market adjustments underscores the need to closely monitor geopolitical developments and their economic ripple effects. As global economic uncertainties overshadow geopolitical risks, maintaining market confidence will depend on sustained positive economic data from countries like China. The potential for peace negotiations in Ukraine and changes in U.S. sanctions could also impact oil prices, making this a pivotal moment for global energy markets.
FX_IDC:USDBROLong
by UDIS_View
USOIL at Critical Support – Rebound Toward 73$?TVC:USOIL has reached a major demand zone, an area that has historically acted as strong support. This region has previously triggered sharp rebounds, making it a key level to watch for a potential bullish reaction. The recent sell-off has pushed the price deep into this zone, and early signs of rejection could indicate that buyers are stepping in. If support holds, we could see a recovery toward $73, aligning with a corrective move. However, if price fails to hold and breaks decisively below this zone, it would signal continued weakness, opening the door for further downside, possibly targeting the next support area. Traders should wait for confirmation, such as bullish price action, increased buying volume, or key reversal patterns before committing to long positions.
TVC:USOILLong
by DanieIM
16
Weekly Market Forecast WTI CRUDE OIL: Bearish! Wait For SellsThis forecast is for the week of March 17 - 21st. WTI Crude Oil is in consolidation, but forming a wedge pattern. As the market condenses, we no watch out for a breakout that could go in either direction. But if we take note of the Weekly bearish FVG that formed last week, we simply wait for price to sting into it and use it to move lower. The market is weak, and has been trending down for over two months now. Using the trend and the -FVG, the higher probability is for price to continue lower, as long as the -FVG holds. Check the comments section below for updates regarding this analysis throughout the week. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
NYMEX:CL1!Short
by RT_Money
Bearish Structure & Gap Fill Target📊 Crude Oil Market Analysis – Bearish Structure & Gap Fill Target 🚨 📉 Crude oil is showing a bearish candle structure, indicating potential downside. 🔄 Bearish Outlook: ✅ Key Target: Price could drop to $67.31 to fill the gap. ✅ Bearish Confirmation: As long as price remains below the bearish candle formations, the trend stays bearish. ✅ Reversal Trigger: A breakout above the bearish candle structure would invalidate the bearish setup. 📌 Until a breakout occurs, the trend remains bearish! Watch price action closely.
NYMEX:CL1!Short
by WaveRiders2