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Oilanalysis

Oil: Go long on this range. After analyzing the 4-hour chart of crude oil, it is found that yesterday's market first fell and then rose, rebounding after reaching support near 78. In the short term, it has broken through resistance at 79 and 80 and now support has formed around 78 and 79. If there is a substantial breakthrough and stabilization around 81.5, there is a high probability of further rising towards the strong resistance level near 83. However, the market currently needs further consolidation and momentum to complete the potential breakthrough, so we recommend shorting at higher levels and going long at lower levels. The specific recommendations are as follows: short around 81-80, long around 79-78, with a stop loss of 70 points and a take profit of 200 points for each.
TVC:USOILLong
by triumphing
Buy crude oil at 80.43. The core of trading is not how much profit can be made in a single transaction, but whether one can achieve sustained and stable profitability over the long term. In the previous article, the strategy given for crude oil was to go long at 78.5, with the target at 80.5, and it was a perfect take-profit. Currently, the support level on the hourly chart is at 80.43, and waiting for a pullback without breaking the support level is a suitable choice. Current trading plan: Go long at 80.43 for crude oil, with a stop loss at 80.13 and a target at 81.50. I will remind you when the trading point is reached. Liking, commenting, and subscribing are the greatest encouragement for me. Follow me to make trading easier! You are also welcome to refer to other ideas below.
TVC:USOILLong
by Ice_and_Fire1
WTI OILWTI Oil, a benchmark for crude oil prices, has been gradually rising recently, indicating an uptrend in the market. By analyzing the available charts, it is possible to identify entry points for traders to buy at the same time as identifying an exit point. To further refine the strategy, traders can use different technical indicators to help them make informed decisions. One potential approach involves looking for a little pullback on the middle trendline, which can serve as a testing ground for a "BUY" signal. Overall, this strategy can be effective for traders looking to capitalize on the current trend in the WTI Oil market. By carefully monitoring the charts and utilizing appropriate indicators, traders can identify optimal entry and exit points to maximize their profits.
TVC:USOILLong
by arnvon1213
WTI Bearish flag in PlayMonthly Chart : Prevailing macro sallow bearish channel in play. Weekly Chart : Breakout of weekly bullish channel in the corrective phase of the market structure. Daily Chart : Double top intermediate pattern formation within the bearish channel. 4H Chart : Asymmetric expanding mini triangle pattern, with impulse breakout of 1H chart bullish corrective structure. 1H Chart : Almost completed bearish flag, expecting break below 73.50 round number with anticipated zone of interest for tp goal at about 70.00 round number.
TVC:USOILShort
by VictigatorZM
Brent crude bearish sentiment Commentary: Despite the optimism around the reopening of China from COVID restrictions, oil prices remain vulnerable to fears of a global economic slowdown. The EU’s price cap at $60 per barrel while OPEC+ is expected to maintain existing production targets adds towards the bearish outlook on price. Brent crude : Last weeks gains can be viewed as a “corrective” bounce off the $81 support; since price has pierced below the September 26th lows at $82.30 may serve to keep alive the bearish price sentiment; downside potential spotted near the $79.7s while upside seems limited to $89.2 in the short term (5-25 days). Not investment advice. Past performance is not indicative of future results.
SKILLING:XBRUSDShort
by Skilling
Crude prices under downside pressureCrude prices under downside pressure on the back of weaker demand outlook The recent break below the $92 short term support level has opened up the prospects for a further decline towards a test of the September 30th lows near $84, the bearish outlook can be technically supported by the fact that current price is below its 20 and 50 day simple moving averages, as well as the fact that the 14 day relative strength index has crossed below its respective signal line (bearish). Short positions can therefore be technically supported provided price is unable to push back above the recent support now turned resistance at $92. Short sellers may be looking for $84 and $81 as potential downside targets, while longs may be aiming for a retest of the $92 area with $93.54 in extension.
SKILLING:XBRUSDShort
by Skilling
USOIL Forecast: Position Trade IdeaHey trader, As you can the price is currently bearish running in the head and shoulders level 2, and below the 50 and bearish crossed short-term MAs. It is preparing to drop for the patterns L3 together for the 200 MA (that's visible on the MT4 chart). But that bias will be fully confirmed once the price has bearish closed and retested below the Daily Neckline and 8 MA (1st trade) or 3rd Weekly Key Lvl (2nd trade), to trigger what I call the "H&S C-E.1 & E.2 signals". However if the price decides to bullish rally to break and retest the 3rd Monthly Key Lvl and 8 MA, the bias will be rejected. With that said, take the trades at your own risk, because this is not financial advice. I'm just sharing my point of view, which you also can do in the comments section below. I don't mind if you do so; I'd love to know your thoughts! That's it for today. I hope you found value from this article. If you wish to see more content on trade ideas and psychology, click the posts linked below. You won't regret it. Trade Safe, Sphatrades.
TVC:USOILShort
by Doji-2k1
Oil reverses losses. Could we see a push higher? Hi TradingView community, today’s focus is on oil as price has, for now, reversed seller momentum and could be starting to form a support bounce. Overall the price remains range-bound between 93.50 and 83.65. But price continues to trade outside of the last major downtrend, and we have two higher lows after the September low. Today sellers took control in the Asian session, but with a risk asset recovery into the LON session, we have also seen oil’s fortunes reverse back to the buyer side. We can see a solid area for demand from and below support, which lines up with the higher lows. Today’s reversal maintains 85.40 support and will continue to back up yesterday’s higher low if we see a higher close today. These are all good signs, and if buyers can continue, we will be looking to see if they can retest the supply area. A break of supply could set off a new leg higher that we hope could retest resistance. If buyers fail today and we see a new move back below 85.40 support, this will keep us on the lines as we wait to see if supply can continue to hold. EIA crude inventories are due Thursday morning at 2:30 am AEDT. Have a great Wednesday and good trading
EIGHTCAP:USOUSDLong
by Eightcap
Crude Oil Swing TradeThe idea here is about Crude Oil Swing Trade: I am bullish on short term for crude oil due to the below observed technical factors. 1. Support established on a daily chart at the point of falling wedge as per below: 2. Deep Crab Harmonic pattern completed on a daily chart as per below: 3. Leonardo Harmonic pattern completed on a weekly chart as per below: 4. Trading below 20 & 200 EMA on daily chart & weekly chart. 5. RSI is at 34.67 on a Daily Chart & 34.36 on a weekly chart at the time of publishing. 6. MACD below signal line on daily & weekly chart . Projected targets as per Deep Crab & Leonardo Harmonic provided in the chart & Weekly Image attached as above. Stop Loss: provided in chart. Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”. Do you like my TA & ideas!! Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis. Do leave your valuable feedback & comments for any improvisations. Cheers.
CAPITALCOM:OIL_CRUDELong
by Tron029
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