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Crude Oil WTI

USOIL: Trend Analysis and Trading StrategiesCrude oil technical analysis Daily resistance 83.4, support below 79 Four-hour resistance 81, support below 81.3-80 Crude oil operation suggestions: Last Friday, the overall oil price fell first and then rose, breaking through the 82.7 mark, and then fell back and bottomed out, breaking through the 81 mark and closing weakly. The overall price showed a fluctuating upward rhythm. Today, the lower support continues to focus on the low point of 81 last Friday, and the upper pressure focuses on the vicinity of 82.5-82.7. If the upper 83.4 is not broken, continue to see the oscillation operation first, and if 83.4 is broken, the bulls will start SELL:82.0near SL:82.40 SELL:83.4near SL:83.70 Technical analysis only provides trading direction!
FX:USOILSPOTShort
by ActuaryJ
#202428 - priceactiontds - weekly update - wti crude oil futuresGood Evening and I hope you are well. tl;dr Bears last stand is 84 and my choppy outlook was drawn 3 or 4 weeks ago. My outlook is the same as last weeks. More sideways movement under 84 needed until bears give up or bulls strongly break above again and we will then most certainly see 86 fast and decent chance this time they get to 90 again. I lean slightly bearish. Quote from last week: comment: High of the week was 82.72, so 22 ticks above my lower bull target. Most was said in my tl;dr. Bulls trying to break above 82 but can’t a one single daily close above that price. Market will also break out soon. After last week, I see this as 50/50 who get’s the breakout. comment: Bulls got the breakout again, retested it and held above 82.74. I do think the high is here in the price area below 86 but market will probably have to spend more time here before bears can potentially trade it back down. In April we spent 14 days at the highs until market broke below, retested and went down for good. I expect the same pattern. current market cycle: trading range inside the big triangle. Market should stay below 86 or this take is probably wrong. On smaller tf we are still inside the bull channel. key levels: 80-86 bull case: Another breakout for the bulls but the volume is increasing and the selling pressure is building. If bulls can keep this long enough above 80, bears might give up again and the trend could continue but it’s hard to argue after 3 pushes up and the clear triangle pattern on higher tf. Invalidation is below 81.3. bear case: Bears want this to be a lower high since market has been doing this for 2 years now. April high was 86.27 so there is your sl if you want to short this. I do think bears want to break the bull channel first, put in another retest of 84ish for a tripple top or head & shoulders before they sell more aggressively again. They see this bull trend with the 3 pushes as done and now they want to get back below 75 again. You play the best pattern on the highest time frame because the higher the time frame the more reliable the pattern is. If multiple pattern on multiple tf align, even better. On a 1h chart we are also forming bull wedges which can break to the downside any day now. Invalidation is above 86.27. outlook last week: “short term: Still slightly favoring the bulls because of the highers highs and higher lows but breakout above need to happen next week. Once we hit 83/84, I think next 10 points will be made to the down side again.” → Last Sunday we traded 81.54 and now we are at 83.16. High was 84.52 and I gave you 84. +246 if you will. Hope you made some. short term: Bearish but I wait for bull channel break and bigger selling pressure. Can come fast or take the whole week. All bullish targets are met and as I wrote last week, next 10 points will probably be made to the down side. medium-long term: We are seeing the big triangle playing out between 72 and 82/84. The high of the triangle got tested until mid of April and we have now tested the lows around 72.5. We are at the bear trend line and odds favor the bears if they stay below 86.27 for trading back down below 76 again. current swing trade: Will short once we break the bull channel and we see decent selling pressure. chart update: Removed the bull wave series but all bearish patterns were drawn 2-3 weeks ago.
NYMEX:MCL1!
by priceactiontds
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
USOIL Will Explode! BUY! My dear subscribers, USOIL looks like it will make a good move, and here are the details: The market is trading on 83.29 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 83.74 About Used Indicators: The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. ——————————— WISH YOU ALL LUCK
TVC:USOILLong
by AnabelSignals
3
WTI - 1H Bullish SignsBased on the previous 15-minute analysis and the current 1-hour chart, WTI Crude Oil is showing strong support around the $83.00 zone. This area has acted as a significant support level, and the price has bounced off it, indicating a potential buy opportunity. On the 15-minute chart, the price had a brief consolidation phase within the support zone before showing signs of upward momentum. This aligns with the 1-hour chart, where the price is currently attempting to rise from the same support area. The consistency in this support zone across different timeframes strengthens the bullish outlook. Currently, WTI Crude Oil is poised to continue its upward movement from the support level, targeting higher resistance levels. Traders should look for confirmation of this bullish trend with potential higher highs and higher lows forming on the 1-hour chart. If the price maintains its support above $83.00, it could provide a favorable risk-reward ratio for long positions, aiming for the next resistance levels around $84.00 and beyond. In summary, the support zone around $83.00 has held well, and the current bullish momentum suggests a buying opportunity in WTI Crude Oil, with an eye on higher resistance levels in the near term.
BLACKBULL:WTILong
by Sober_Trading
WEEKLY FOREX FORECAST Part 1: DXY, INDICES, GOLD, SILVER, US OILThis is Part 1 of the Weekly Forex Forecast. In this video, we will cover: USD Index, S&P500 NASDAQ DOW JONES DAX 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.
COMEX_MINI:SIL1!
by RT_Money
2
USOIL Will Go Lower From Resistance! Sell! Please, check our technical outlook for USOIL. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 83.34. The above observations make me that the market will inevitably achieve 82.57 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILShort
by SignalProvider
2
USOIL Will Go Up From Support! Long! Here is our detailed technical review for USOIL. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 83.25. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 84.34 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILLong
by SignalProvider
1
My Bullish Idea For USOIL Trade - Here is Why am Buying USOILFOREXCOM:USOIL Here is why am bullish on USOIL. 1. The daily time frame structure is extremely bullish. 2. The 4hour is also bullish. 3. The 1hour chart structure is extremely bullish such that there is no reason to go short. The orderflow on 1hour is very bullish, price is respecting bullish PD Arrays like Fair value Gaps (FVG), Bullish Orderblocks, bullish breaker etc. My entry, target and stop loss are all on the chart. I hope this inspires you. Drop your idea in the comment section.
FOREXCOM:USOILLong
by Elijahenoch7
BTC Futures. Bulls fade. Robust gain de-established.BTC has reached the top around US$ 73700 on March 14, 2024 as it was clearly explained in previous publication. Since that it's gone around 1 month till now, and no one new high was printed in BTC. Bulls fade. Robust gain de-established. Upside bubble-alike trend transformed into detrend structure with flat top near US$ 73000 per BTC. RSI (14) is sluggish also. This idea is for b-adj CME’s Bitcoin futures contracts, ticker symbol BTC, which are a USD cash-settled contracts based on the CME CF Bitcoin Reference Rate (BRR), which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. The BRR aggregates the trade flow of major bitcoin spot exchanges during a one-hour calculation window into the U.S. dollar price of one bitcoin as of 4 p.m. London Time. The Bitcoin futures contract trades Sunday through Friday, from 5 p.m. to 4 p.m. Central Time (CT). A single BTC contract has a value of five times the value of the BRR Index and is quoted in U.S. dollars per one bitcoin. The tick increments are quoted in multiples of $5 per bitcoin, meaning a one-tick move of the BTC future is equal to $25. BTC futures expire the last Friday of the month, and are listed on the nearest six consecutive monthly contracts, inclusive of the nearest two December contracts. Technical graph indicates on a detrend structure, where near 73K per BTC is the Top, and near 55K is the target. Technically, BTC can retrace to mentioned above level as it still below reasonable resistance.
CME:BTC1!
by FinWealth
Oil Prices Climb on Inventory DrawdownOil prices edged higher on July 3rd, 2024, buoyed by signs of a significant decline in U.S. crude oil stockpiles. Brent crude, the benchmark for international oil prices, for September settlement rose 0.1% to $86.34 a barrel by 10:21 AM in London. Meanwhile, West Texas Intermediate (WTI), the U.S. oil benchmark for August delivery, inched up to $82.88 a barrel. This price increase comes amidst a wider risk-on sentiment in the global financial markets. Equity markets, including the S&P 500, have been reaching record highs, and this optimism appears to be spilling over into the oil market. Inventory Drawdown: A Cause for Optimism The primary driver behind the oil price increase is a report from the American Petroleum Institute (API) indicating a substantial drawdown in U.S. crude oil inventories. According to sources familiar with the data, crude inventories fell by a significant 9.2 million barrels last week. If confirmed by the official figures released by the Energy Information Administration (EIA) later this week, this would mark the largest single-week decline in stockpiles since January 2024. A decline in stockpiles indicates a tightening of supply, which can lead to higher prices. This is because crude oil is a fungible commodity, meaning a barrel of oil from one source is generally equivalent to a barrel from another. So, if stockpiles decline in the United States, it can impact global supply and drive prices up. Geopolitical Tensions and Summer Driving Season Lend Support Apart from the inventory drawdown, several other factors are contributing to the current oil price rally. Geopolitical tensions remain elevated around the world, particularly in the Middle East. The ongoing war between Israel and Hezbollah, along with potential upcoming elections in France and the UK, are keeping investors on edge. Disruptions to oil supplies from these regions could significantly impact prices. Summer is typically a season of increased demand for gasoline due to vacation travel. While the API report also indicated a decline in gasoline stockpiles, concerns linger about weak U.S. gasoline demand, which could temper the current price uptick. Looking Ahead: Factors to Consider The oil market remains susceptible to several factors that could influence prices in the coming weeks and months. Here are some key elements to keep an eye on: • Confirmation of API Inventory Data: Official confirmation from the EIA regarding the inventory drawdown will be crucial. If the data is validated, it will solidify the current bullish sentiment in the market. • Global Economic Growth: The health of the global economy, particularly major oil-consuming countries like China, will significantly impact demand. A strong global economic recovery will likely lead to higher oil demand and consequently, higher prices. • The Upcoming Hurricane Season: The Atlantic hurricane season officially began on June 1st, 2024. If major hurricanes disrupt oil production facilities or shipping routes in the Gulf of Mexico, it could lead to price spikes. • Geopolitical Developments: Any escalation of geopolitical tensions in major oil-producing regions like the Middle East could lead to supply disruptions and price increases. Overall, the recent oil price increase is a result of a confluence of factors, including a potential decline in U.S. crude oil inventories, a risk-on sentiment in the financial markets, and ongoing geopolitical tensions. While some headwinds exist, such as concerns about weak U.S. gasoline demand, the near-term outlook for oil prices appears cautiously optimistic. In conclusion, the oil market is currently in a state of flux. While several factors currently support higher prices, the path forward remains uncertain. Close monitoring of inventory data, global economic indicators, geopolitical developments, and the Atlantic hurricane season will be crucial for understanding how oil prices will behave in the coming months.
OANDA:WTICOUSDLong
by bryandowningqln
USOIL Price Consolidation: Potential for Bullish BreakoutTechnical Analysis: USOIL Current Outlook: The price is currently consolidating between 80.73 and 82.24. As long as it trades above 80.73, it will likely aim for 82.24. Bullish Scenario: Stability above 80.73 suggests a potential move to 82.24. Should the price close a 1-hour or 4-hour candle above 82.24, it would signal the start of a new bullish trend, with targets at 84.14 and 87.07. Bearish Scenario: For a bearish trend, the price must drop and break below 79.47, targeting 77.94. Stability below 77.94 would indicate further bearish movement towards the next target at 75.35. Key Levels: - Pivot Line: 80.73 - Support Levels: 79.47, 77.94, 75.35, 69.78 - Resistance Levels: 82.24, 84.14, 87.07, 89.08 Today's Expected Range: The price is anticipated to move between the support at 79.49 and the resistance at 84.14. Tendency: The current outlook favors a bullish scenario.
TVC:USOILLong
by SroshMayi
Crude Oil "Triangle Pattern" Target 7100 and "Wolf Wave Target"A "Triangle Pattern" has formed in Crude Oil and Downtrend has "Breakout". So market is Bullish Trend. And the Target is Triangle's Top Trendline at INR 7100. Additionally, Expect a Breakout of the Triangle Pattern. Don't miss the "Wolf Wave Target" Opportunity. If Breakout the Triangle Pattern, then the Next 2nd Target is Wolf Wave. Refer to the below image for Wolf Wave Target Achieved in Ethereum. Guess 3rd Target ??? I want to help people Make Profit all over the "World". Additionally, I am Eager to Receive Money form Worldwide because of my Potential. Thank you
MCX:CRUDEOIL1!Long
by SasikumarMani