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WTI CRUDE OIL: Huge sell long term and this is why.WTI Crude Oil is neutral on its technical outlook across the three different long term timeframes 1D, 1W and 1M (RSI = 50.461, MACD = 2.330, ADX = 15.020). The latter is the timeframe that we are looking at on this chart and as you can see, Oil is inside a Triangle pattern, which inside the 17 year Channel Down is the pattern that consolidates the price before a major selloff to its bottom. The similarities on the RSI sequences is further proof, so on the long term we are bearish on WTI (TP = 10.00), whose upside is limited to the 95.50 Resistance. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
3
Crude Oil Movement In Bearish Flag. Short long set up Hey guys! Quick long idea for oil chart, we're moving right now in the raising flag which is bearish, but we can to trade the long till red resistance line. Reasons to open positions: 1) The Awesome Oscillator is close to change the direction to upside, and we can see the similar movement before 2) By moving into the flag we cross the support lines, and we didn't go lower, so also seems like we're repeating the scenario Take profit, better to put on the resistance line. Stop loss by lowest candle. IMPORTANT! Always follow RM! We don't trade more than 2-3% of the deposit! Oil and stocks you can trade on this crypto exchange: bingx.com
NYMEX:CL1!Long
by CarpBuro
Today’s Profitable Trading Signals for Crude Oil Hello everyone. At present, crude oil continues to fluctuate at a high level on the daily trend, and the short-term moving average is basically in a flat state, tending to continue to maintain a relatively volatile trend in the short term. Currently, the 4-hour trend continues to fluctuate at a low level, and the K line continues to be under pressure. The short-term moving average maintains a slightly weaker trend. The bottom rebound after the U.S. market yesterday has continued, and the current range on the hourly level has been compressed very little. The current resistance is around 81, forming a short-term downward trend. So today we rebound and need to sell
TVC:USOILShort
by Crazy_money_making_signals
Head and Shoulders Tutorial on Crude Oil ChartI have decided to start a short series of tutorials covering common instruments used in technical analysis. In today's tutorial, we observe a successfully identified head and shoulders pattern on the 4-hour chart of Crude Oil, resulting in a substantial movement of around 17%. Here's how to find the instrument: navigate to the left sidebar and select 'Patterns,' where you will find 'Head and Shoulders.' Analyzing and trading correctly involve the following steps: 1) Both shoulders must form within a rising or falling trend. In the case of that Oil chart, we observe a rising trend, indicating a potential short position. 2) The size of the head becomes our target for take profit (TP), and upon reaching TP, we close 80% of the position. 3) Ideally, volumes at the right shoulder should decrease, and upon breaking, they should increase. Risk Management Strategy: 1) Limit each trade to no more than 2% of your deposit. 2) Always utilize stop-loss and take-profit orders. 3) Never trade money you are not prepared to lose. 4) Start with small budgets. It is crucial to emphasize that risk management must be adhered to whenever you engage in trading! Register and trade stocks and crypto using my link with a discount on commissions: bingx.com/invite/E6RCUFJT
TVC:USOILEducation
by CarpBuro
WTI OIL: Bearish more likely long term.WTI Oil is neutral on the 1W technical outlook (RSI = 51.426, MACD = -0.040, ADX = 21.884) as it is about to close the third straight week trading sideways on the 1W MA50. On this long term chart, we can clearly see that the price hasn't crossed over the R1 level (79.75) since November 13 2023. As long as it keeps closing the 1W candle under it, we are bearish aiming at the 1W MA200 (TP = 73.50), which has been the ultimate Support in tha past few years, closing all 1W candles above it (see the circles). If on the other hand the 1W candle closes over the R1 level, expect a 83.50 test of the Symmetrical Resistance and 1W MA100, which is a Resistance level only crossed once since December 2022. The 1W RSI trend looks like October 2022 (over the RSI's MA), which was a pattern that was followed by a strong decline. Consequently, we will sell one more time if the 1W candle closes under the 1W MA200 and target near the S1 Zone (TP = 65.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOIL
by InvestingScope
USOIL WTI Long Opportunity - Confirmation at SMC Orderblock FVG 📈 USOIL WTI Long Trade Setup - Confirmation at SMC Orderblock FVG 🔍 Technical Analysis: USOIL WTI presents a potential long opportunity with confirmation at the SMC Orderblock FVG zone. Historical analysis indicates this area has acted as strong support in the past. Confirmation involves observing clear signals on smaller timeframes (1, 3, or 5 minutes) within the order block zone. 📊 Trade Plan: Entry Point: Consider initiating a long position upon clear confirmation within the SMC Orderblock FVG zone on smaller timeframes. Stop Loss: Place below recent swing low to manage risk effectively. Take Profit: Targeting potential resistance levels or previous highs. 🚨 Risk Management: Implement appropriate risk management strategies to protect capital. Stay informed about economic events impacting USOIL WTI. 📈 Disclaimer: This is not financial advice. Trade responsibly and conduct thorough analysis. 👉 Note: Monitor price action closely for timely adjustments. Happy Trading! 🛢️📈
TVC:USOILLong
by MAAwan
WTI CRUDE OIL: Still bullish medium term to 83.50.WTI Crude Oil is on a healthy bullish 1D technical outlook (RSI = 61.125, MACD = 0.800, ADX = 42.762), crossing today over the 1D MA200 for the first time in February. 79.75 (R1) is the first Resistance level but once the 1D MA50 broke (as we stated on our prior idea), the target is at least 83.50 (TP), which is what WTI delivered on the August 10th 2023 and April 12 2023 rallies. It is interesting to point out how strong of a Support the 1W MA200 has been acting those past few years and was the level that initiated February's (current) rebound. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
USOIL Sell Setup🚨 Crude Oil #WTI 🗓️ Date: 12 February, 2024 ⏰ Timeframe: Daily 💡 Given in the chart – ♦️ Green (long term support) = 67.50 ♦️ Red (resistance) = 78.85 The price has been in the range (red color) on the chart since December last year. Price touched this range several times but failed to deliver a breakout. As long as this range remains active, the potential trend will be neutral. ✅ Those who like to trade in Crude Oil, please take Buy position near the support level of the range and Sell position near the resistance level. That is, bounce trading strategy ✅ As long as the price is not able to break this range, you can accept entries according to this pattern. 🚫 Remember, while staying within the range, no Buy/Sell entry can be taken in intermediate positions. Either let the price approach the resistance level or the support level, then take a reversal entry.
FX:USOILShort
by GreenFxTrading
OIL If oil prices push higher above 81$, they will prop the dollar in the medium term. Higher oil prices will influence inflation globally. Central Banks particularly the Fed might not cut rates until the later part of 2024. Fed Chair has already echoed these words citing that fed cuts are years away. Once oil adds onto that equation, we might see a possible rate hike in 2024. On the monthly charts, we have a consolidation around a strong demand level. On the weekly timeframe we do not have a clear direction though the market seems to be pushing higher to mitigate inefficiencies at the 107-115 levels. Dropping down to the 4 hour chart, we have a bullish bias targeting 77-90 levels. Change of character plus flip zones in addition to multiple break of structures inform our bullish bias.
TVC:USOILLong
by morrisgitau
Oil: Thoughts and AnalysisToday's focus: Oil Pattern – Support Hold Support – 71.80 Resistance – 78.80 Hi, traders; thanks for tuning in for today's update. Today, we are looking at Oil. After a solid three-day decline, buyers have put up a fight from 71.80, but is this enough to hold the current uptrend? A break below yesterday's bar with a trend break could suggest that the current move lower has further to go. We have reviewed a few scenarios we are looking for, depending on what we see today. Good trading.
EIGHTCAP:USOUSD
by Eightcap
Oil’s Tug-of-War: Iran Tensions vs. Evergrande Oil’s Tug-of-War: Iran Tensions vs. Evergrande On Wednesday, WTI crude futures dropped below $77 per barrel, undoing a 1.4% increase from the prior session, all while the U.S. readies itself to address a lethal attack on its troops in the Middle East. Perhaps traders are concerned more about the liquidation of China Evergrande, raising worries about the overall Chinese economy. There is fear that this uncertainty in China could lead to a decrease in demand for crude oil. However, there is a question of whether traders might be underestimating the potential for U.S. responses to the lethal attacks to escalate tensions or lead to a conflict with Iran. Despite President Biden expressing a desire to avoid a wider war in the Middle East, there are concerns about the unpredictable outcomes of such military actions. The Guardian predicts dire consequences if there is direct American military retaliation against Iran. This could prolong the Gaza conflict, trigger a Hezbollah attack on Israel, escalate conflicts in Iraq and Syria, and destabilize friendly regimes in Egypt, Jordan, and the Gulf. Additionally, such actions could inadvertently assist China in pursuing its anti-democratic geopolitical ambitions and provide justification for Russia's aggression in Ukraine.
BLACKBULL:WTI
by BlackBull_Markets
USO ( Oil Futures ETF) Swing Trade Review LONGThe idea was that while US Oil is not directly affected by the tensions in the Middle East as most of it is domestic consumption, what portion of it that is exported does not go through the Suez Canal but rather across the Pacific to Asia mostly. The idea was expanded by no matter that, the Middle East quagmire affects global oil prices all intertwined. The China recession is a drag on oil prices as is Russian sales below market but no matter the shipping costs have gone up and so also the price of what is being shipped. The 30-minute chart shows the trades based on the premise of a volume profile with the evolving high volume area between the blue lines and price simply a black line. As the price is supported by the lower black line and resisted by the upper black line and the price is expected to rise, the trade plan was to "buy low" when the price dropped to the lower black line with two lots of shares. When the price rose to the upper black line sell one of those lots and run the other to gradually acquire more shares and average up. A high-volume area breakout 3 days ago was also used as a buy signal. As of the present, the trade is carrying five lots of 10 shares each. Profit has been pulled out in partials each time a lot has been sold at a red down arrow. The trade close signal will be from the RSI indicator when the fast RSI line in green goes under the slower red RSI line. Upon closure, the profits will be redeployed by shorting USO using a similar strategy: short selling at the top of the high volume area two lots of shares and buying to cover one lot at the bottom of the high-volume area. Although this trade is a slow-moving swing trade used for disciplined and deliberate trading, it is very low risk with moderate profit and for the most part is risk-free because the entry points are relatively precise especially if using a shorter time frame than the 30 minutes here.
AMEX:USOLong
by AwesomeAvani
1
7 Diamnesion Analysis for OIL 😇 7 Dimension Analysis Time Frame: H4 1️⃣ Swing Structure: Bearish 🟢 Structure Behavior: Break of Structure (BoS) 🟢 Swing Move: Corrective move is filled POi, now impulsive is starting 🟢 Inducement: Done 🟢 Pull Back: 1st and deep 🟢 Internal Structure: Bearish 🟢 Ext OB: Mitigated 🟢 Supply, Distribution, Rejection: Trendline broke, trend line Breakout/CIP done 🟢 Time Frame Confluence: Daily, H4 2️⃣ Pattern 🟢 CHART PATTERNS: Reversal, Rounding Patterns, Double top 🟢 CANDLE PATTERNS: Record Session count observed in internal leg, Shrinking long wick end, Change in guard engulf, Momentum: strict engulfing with bearish strength, Tower top also observed 3️⃣ Volume 🟢 Fixed Range: In this area, bears are already strong 🟢 No Volume during correction 4️⃣ Momentum RSI 🟢 Zone: Bearish sideways 🟢 Range shift: Bullish to sideways properly 🟢 Overbought rejections count: 2 5️⃣ Volatility Bollinger Bands 🟢 Middle band: Price below the middle band with a ninja candle bearish closing 🟢 Contraction: Fully 🟢 Two Band Punchers: Observed in the upper band 6️⃣ Strength According to ROC 🟢 Values: USD -3.05, OIL is -15 7️⃣ Sentiment According to all sentiments, oil prices are under pressure ✔️ Entry Time Frame: H4 ✅ Entry TF Structure: Bearish ☑️ Current move: Impulsive ✔ Support Resistance Base: Supply area rejection ☑️ Candles Behavior: RSC, bearish Momentum ☑️ FIB Trigger event: Done ☑️ Trendline breakout: Done 💡 Decision: Sell at opening 🚀 Entry: 73.45 ✋ Stop Loss: 76.87 🎯 Take Profit: 62.55 2nd If Internal Structure Changes also Exit 3rd Trendline Breakout, Fomo 😊 Risk to Reward Ratio: 1:3.5 🕛 Expected Duration: 15 days SUMMARY: The analysis suggests a bearish outlook, supported by structural, candlestick, and volume indications. Momentum in RSI and Bollinger Bands also align with the bearish stance. The decision is to sell at the opening with specific entry, stop loss, and take profit levels, considering potential internal structure changes and trendline breakouts.
TVC:USOILShort
by Optimum369