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Oil

WTI Rises Above $84.50 Amid Summer Demand ExpectationsWith the peak of the summer travel season, marked by the Independence Day holiday this week, US oil demand is expected to surge. The American Automobile Association (AAA) projects travel during this period to be 5.2% higher than in 2023, with car travel alone increasing by 4.8% compared to the previous year, according to Reuters. Crude oil markets are further supported by ongoing geopolitical tensions in the Middle East. The Israel-Palestinian Hamas conflict continues to create volatility in energy markets. Investors are concerned that a potential cross-border spillover could involve direct action from Iran, a Hamas supporter, threatening crude oil supplies and logistical stability in the region. The American Petroleum Institute (API) reported the steepest week-on-week decline in US Weekly Crude Oil Stocks in nearly two years. API data showed a significant weekly decrease of -9.163 million barrels, far exceeding the forecasted -150K drawdown and following the previous week’s -3 million barrel decline. Given our forecast, we are currently considering a short position in the supply area. Typically, crude oil production for summer demand occurs in the preceding months, leading to higher oil prices before the summer season. Our seasonality analysis indicates that crude oil prices generally decline in trading from the end of July through September. Therefore, we are now looking for a short position. ✅ Please share your thoughts about WTI in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
BLACKBULL:WTIShort
by FOREXN1
1
USOIL / TRADING BELOW FVG AREA - 4HUSOIL / 4H TIME FRAME The overall trend is downward , until trading below FVG . As long as prices stay below the turning level of 74.78, a decline is expected, potentially reaching the support level (1) at 73.03, and then 71.51. However, if prices break above the turning level and close a 4-hour candle above it, the trend may shift upward, with potential to reach the resistance level at 76.18. Breaking this resistance could lead to further gains, targeting 77.52. KEY LEVELS : TURNING LEVEL : 74.78 RESISTANCE LEVELS : 76.18 , 77.52 SUPPORT LEVELS :73.03 , 71.51
TVC:USOILShort
by ArinaKarayi
USOIL - Retest at 76.55 Before Bullish Momentum Aims for 79.49 Market Update: Retest and Bullish Continuation Expected The price has already reached the resistance zone at 77.95, as noted in our previous analysis. Now, the price is expected to retest the 76.55 level before resuming its bullish trend towards 79.49. Bullish Scenario: For the bullish trend to continue, the price should stabilize above 77.94, targeting 79.49, with further potential to reach 80.73. Bearish Scenario: If the price stabilizes below 77.94, it could support a decline toward 76.55 and possibly down to 73.35. Key Levels: - Pivot Line: 77.94 - Support Levels: 76.55, 75.35, 72.72 - Resistance Levels: 79.49, 80.73, 82.20 Today's Expected Range: The price is anticipated to move between the support at 75.35 and the resistance at 82.20.
TVC:USOIL
by SroshMayi
Oil baby, common you can do it! Do it!FA: Historically, when the Fed rate is lowered in the U.S., there is one very simple pattern - the collapse of commodities! Of course, there are nuances related to the rate of downgrade.... Prices do not start falling at once... most often there is a time lag from 2-3 months to 8 months. It is important to understand the following... The USA controls oil prices (directly or indirectly - but the fact remains). Oil reserves in the states are low but last report showed very nice numbers (actual -0.8M vs forecast -2.7M) Now catch the train of thought: US will start a cycle of rate cuts- US has more than enough oil reserves - historically rate cuts are a drop in oil prices TA: After aggressive movement till 4h gap, price went down as expected with first MS, then price went up to test BTS zone and made second shift (BoS) and came into bullish 4h fvg. Now there are 3 options: 1 - move higher till 4h fvg into premium , rebalance and final move till EQL at 71.4$ area 2 - fail 73.3 area from market opening with potential move downwards till EQL 3 - Breaking above 4h FVG with target at 77.55$, this option can be considered only after closing above 4h fvg on 1h+ time frame with candle's body
TVC:USOIL
by Almenio
WTI OIL formed 1st 1W Death Cross in 4.5 years!The last long-term signal (July 09, see chart below) on WTI Oil (USOIL) was a rejection (sell) at the top of the former Triangle (Lower Highs trend-line): The price not only broke below both the 1W MA50 (blue trend-line) and the 1W MA200 (orange trend-line) but also the bottom of the Triangle. The result this week is the formation of a 1W Death Cross, the first one since the COVID crash back in March 2020! Naturally this is a strong bearish signal, which will be confirmed if the price breaks below the Higher Lows trend-line. If it does we may see a fatal market collapse, as this is a cyclical signal (observe the Sine Waves). In May 2009, it was invalid as the Housing Crisis preceded it, in November 2014 it was halfway through the sell-off of the Oil Crisis and Chinese economic slowdown and in March 2020 it came earlier relative to the previous two but still after the price broke below the Higher Lows trend-line. As a result, this trend-line is of the utmost importance currently and only if broken (and close a 1M candle below it) can we consider a similar collapse. If it does, we expect at least $45.00, on the way to the Symmetrical Support Zone test. ------------------------------------------------------------------------------- ** 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:USOIL
by TradingShot
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BLACKBULL:BRENTLong
by Thief_Trader
USOIL : Weekly Technical AnalysisHi Traders! Crude oil prices declined on Tuesday due to demand concerns driven by weak economic growth in China, the world's biggest crude importer. Brent crude fell 1% to US$76.77 per barrel and West Texas Intermediate crude lost 0.1% to US$73.50/b at last look early Tuesday. Demand concerns offset impacts of the production and export halt at Libya due to a political dispute, Reuters said in a Tuesday report. China's purchasing managers' index hit a six-month low in August and new home prices grew in the month at their weakest pace this year. Meanwhile, Libya's National Oil Corp declared force majeure at its El Feel oil field from Sept. 2. Total production in the country had dropped to just over 591,000 barrels per day (b/d) as of Aug. 28 from nearly 959,000 b/d on Aug. 26, Reuters reported, citing NOC. However, the Organization of the Petroleum Exporting Countries is reportedly set to proceed with its planned output boost in October regardless of demand concerns, Reuters reported, citing unnamed industry sources. From a technical point of view, the break of the support (left wing) should confirm our bearish harmonic structure and subsequently push the price around $55. If OPEC confirms an increase in production, this element could support our idea. What do you think?
FX:USOILShort
by TheAnonymousBanker
7
WEEKLY FOREX FORECAST SEPT 2-6th: S&P NAS GOLD SILVER US&UK OILThis is Part 2 of the Weekly Forex Forecast SEPT 2nd - 6th In this video, we will cover: S&P500 NASDAQ DOW GOLD SILVER US & UK OIL 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:BZ1!
by RT_Money
WTI Oil D1 | Falling to multi-swing-low supportWTI oil (USOIL) is falling towards a multi-swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 71.89 which is a multi-swing-low support that aligns with the 61.8% Fibonacci projection level. Stop loss is at 68.70 which is a level that lies underneath a swing-low support and the 100.0% Fibonacci projection level. Take profit is at 76.01 which is a pullback resistance. 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. 62% 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 (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% 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:USOILLong
by FXCM
Crude Oil Slips: Third Consecutive Week **"Crude Oil Slips: Third Consecutive Week Of Losses Amid Mounting Bearish Pressure"** On Friday, August 30th, front-month crude futures sharply dropped before paring losses. OPEC+ is reportedly leaning toward an output increase in October. Our algorithm issued a daily chart sell alert on July 22, 2024, followed by a weekly chart sell alert on August 12. A break below the $69.28 price level on a weekly basis could potentially trigger a more significant decline, driving crude prices down to $60 or lower by early next year.
NYMEX:CL1!Short
by AlgoTradeAlert
USOIL / UNDER BEARISH PRESSURE - 4H USOIL / 4H TIME FRAME Tendency , prices is under downward pressure , until trading below turning level at 77.06 Downward Condition : The price is currently demonstrating strong bearish momentum, indicating a favorable market trend. As long as the price remains below the turning level of 77.06 , this suggests sustained downward movement. The first target is the support level (1) at 75.39 , and if this level is breached, the price is likely to continue its ascent toward the next support level at 74.24 . Maintaining a position above the turning level reinforces the market's strength and increases the likelihood of a continued rally, as it signals confidence among buyers and reduces the chances of a reversal. This condition highlights the importance of the 75,39 level as a critical threshold for maintaining the bearish trajectory. UPWARD CONDITION : An upward trend is anticipated if the price surpasses the turning level at 77.06 , which would signal a rise towards the resistance level (1) at 78.53 . For the increase to be sustained, the price must break through the resistance level (1) to advance to the next resistance at 79.97 . USOIL / buy above 77.06 SL: 76.80 TP: 78.53 TP: 79.97 USOIL / sell below 77.06 SL: 77.50 TP: 75.39 TP: 74.24
TVC:USOILShort
by ArinaKarayi
USOIL The Target Is UP! BUY! My dear friends, Please, find my technical outlook for USOIL below: The price is coiling around a solid key level - 73.59 Bias -Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 75.22 Safe Stop Loss - 72.61 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
TVC:USOILLong
by AnabelSignals
1
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:USOILLong
by ShahedZare