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Crude Oil WTI

WTI CRUDE OIL Final Resistance test before $77.50WTI Crude Oil hit today the 7 day Falling Resistance. A break above it will be bullish as that has been the case on 2 similar patterns previously. We are ahead of a Golden Cross (1h), which on the 2 previous patterns, has confirmed the uptrend. Trading Plan: 1. Buy if the Falling Resistance breaks. Targets: 1. 77.50 (Resistance 1). Tips: 1. The RSI (1h) is printing a pattern similar to the September run. Please like, follow and comment!!
TVC:USOILLong
by TradingBrokersView
2
USOIL Will Move Lower! Short! Here is our detailed technical review for USOIL. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 69.00. Considering the today's price action, probabilities will be high to see a movement to 65.47. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILShort
by SignalProvider
1
Hellena | Oil (4H): Short to support area at 67 (Wave "3").Dear colleagues, I believe that at the moment we have a great opportunity to find an entry into a short position that will bring us many pips. The fact is that the wave “2” of the middle order is completed, which means that the wave “3” of the higher order continues the downward movement in the wave “3” of the middle order. I expect the price to rise a bit more to the 78 level, then I expect the price to drop to the 67 level. It will not be a quick drop, but we will be able to go short several times. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
26
USOil WTI Technical Analysis and Trade Idea👀👉 US Oil has encountered recent selling pressure, which may present an opportunity for short-term traders. In this video, we’ll analyze the price action, evaluate the current trend and market structure, and explore potential sell setups if the price action unfolds as outlined. Risk Disclaimer: Forex trading involves significant risks, and market conditions can change unexpectedly. This content is for educational purposes only and is not financial advice. 📉✅
TVC:USOILShort
by tradingwithanthony
WTI - How will oil react to the elections?!In the 4H timeframe, oil is below the EMA200 and EMA50 and is moving in its descending channel. In case of rising due to increasing tensions, we can see the ceiling of the channel and sell in that range with appropriate risk reward. If the downward trend continues and the support range is broken, you can buy oil at the bottom of the downward channel. Under President Joe Biden, U.S. oil and gas production has reached new records, and the outcome of the U.S. election is unlikely to significantly impact commodities like energy in the short term. Analysts at Capital Economics believe that the election result will have minimal influence on most commodity prices over the next few months. However, differences in candidates’ views on vehicle greenhouse gas emissions, liquefied natural gas (LNG) exports, and foreign policy toward Iran could notably impact oil and gas prices over the next five years. The CEO of Goldman Sachs stated that the U.S. economy is very resilient, expressing concerns over global inflation, spending, and the U.S. budget deficit. He advised focusing on the long-term interest rates in the U.S. Solomon emphasized the importance of U.S. long-term interest rates and mentioned that the Federal Reserve will base its 2025 decisions on economic data. He also noted that geopolitical impacts on Goldman Sachs’ business are minimal but voiced concerns about geopolitical tensions in the Middle East. Yesterday, Saudi Arabia’s energy minister announced that the country remains committed to maintaining a production capacity of 12.3 million barrels of crude oil per day. In Q3, British Petroleum (BP) reported a net profit of $2.3 billion, exceeding analysts’ expectations. This compares to $2.8 billion in Q2 and $3.3 billion in Q3 2023. BP shares have declined by over 14% since the start of the year. BP is also targeting new investments in the Middle East and the Gulf of Mexico to boost oil and gas production. A BP spokesperson stated that the company will continue as a simpler, more focused, and higher-value entity. Other oil companies like Shell and Total are also preparing to release their quarterly reports shortly.
TVC:USOILShort
by Ali_PSND
#WTI Crude Oil 4-HWTI Crude Oil 4-Hour Analysis WTI Crude Oil is trading within a falling channel on the 4-hour chart, currently finding support at the channel's lower boundary. This support level could provide a potential buy opportunity, especially if bullish momentum builds. Additionally, a breakout above the channel's upper resistance line would signal further upside, opening the door for more buy entries. Technical Outlook: - Pattern: Falling Channel - Forecast: Bullish (Buy Opportunity) - Support Level: Channel lower boundary - Further Opportunity: Buy more if resistance breakout occurs Traders may look to enter buy positions at the channel support and consider adding to positions if a breakout above the upper resistance confirms additional bullish momentum. Indicators like RSI for oversold conditions or MACD for bullish crossovers can provide extra confirmation before entering.
BLACKBULL:WTILong
by PIPSFIGHTER
WTI Oil H4 | Potential bearish breakoutWTI oil (USOIL) is falling towards a potential breakout level where the bearish momentum could drive it lower. Sell entry is at 67.16 which is a potential breakout level. Stop loss is at 68.20 which is a level that sits above the 23.6% Fibonacci retracement level and a pullback resistance. Take profit is at 65.64 which is a swing-low support. 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. 64% 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. 66% 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:USOILShort
by FXCM
2024-10-28 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr Oil - Gigantic bear gap with Globex open and market closed 370 ticks down or a bit more than 5%. 1h 20ema is resistance until clearly broken. Bulls are in a world of hurt here. 66.5 is the next lower target before we go for 65. Bulls need anything above 68 again. comment: Market has now went from doing 18% upwards, going down 14% and leaving two bear gaps open. The October low is at 65.74, which will likely be hit over the next 1-2 days and if it does not hold, we will test 64 again. Bulls need to break above the 1h 20ema and then 69. I don’t think they can get much higher than that tomorrow or I’d be surprised big time. Huge difference between bulls and bears on the daily chart, is that bear bars have big tails below and market is still going down hard. Bull bars close on their highs but bulls are getting slaughtered. Could be bulls who bought the 1st of October spike, scaling in and they probably have their stops either around 65 or below the September low 63.46. Either case, it will be interesting to see the market reaction if we drop below those prices. current market cycle: trading range (big triangle on the daily chart) key levels: 63 - 78 bull case: Couple of ways to try to draw the bear trend line with the lows of the past 3 weeks but all are ugly. Bulls who buy this are probably scaling into positions and their stops are either around 65 or below the September low 63.46. If they can keep the market above 65 and quickly trade back above 69, there is a chance the lows can hold and that we have printed a higher low but those odds are bad after a -5% day. Best they can probably get is sideways movement between 66 and 69. Invalidation is below 65.74. bear case: Bears only got the market 80 ticks lower than the Globex spike, which is confirmation of this sell off. Their lower targets are the October low 65.74 and then the September low 63.46. We have an ugly bear channel with almost all bear bars having big tails below them, which shows buying pressure but bears are still selling this down hard. Which is a bit unusual I think. After such a strong bear day, follow through is expected and until bulls have clearly broken above 68 again, that price was decent to short today. For tomorrow I want to see if we have formed a tighter channel than the big one visible on the daily chart and if market is respecting an ema (currently the 1h held). I would not short below 67 but rather on pullbacks. Invalidation is above 69. short term: Max bearish. Can’t remember when I have last seen a 200+ tick futures gap that stayed open. medium-long term - Update from 2024-10-20: No idea where this wants to go in the remaining 2 months of this year so I am neutral until we have a better pattern. The big triangle on the weekly chart is alive and until that changes, no more updates. current swing trade: Nope. trade of the day: Selling around the EU open was ok once we broke below 68.3.
NYMEX:MCL1!Short
by priceactiontds
WTI CRUDE OIL: 1H Death Cross suggests another Low is coming.WTI Crude Oil is bearish on its 1D technical outlook (RSI = 42.281, MACD = -0.560, ADX = 26.062) with the bearish bias evident as in the last 3 weeks the price is trading inside a Channel Down. The formation of a 1H Death Cross earlier today, draws comparisons with the October 15th one. Both price actions found a temporary support on the 1.382 Fibonacci level at the time of the Death Cross but the 1H RSI was rebounding on a bullish divergence. We expect the price to extend replicating that bearish wave and approach the 1.618 Fib eventually (TP = 66.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
WTI creates a price gap, room for price declineTVC:USOIL dropped sharply in the Asian trading session today, October 28, at press time WTI crude oil maintained a decrease of 3dollars on the day, equivalent to 4.18% and is currently trading at 68.6USD/barrel. The current risk aversion in the geopolitical situation has subsided. Israel's weekend retaliatory strike against Iran bypassed Tehran's oil and nuclear infrastructure without disrupting energy supplies, easing geopolitical tensions in the Middle East and further weakening pressure on the supply side, at the same time causing disadvantages for rising oil prices. With the US election approaching and demand expected to show no signs of recovery, some fundamental pressures have returned, causing the energy market to fall into a negative state again. Technically, on the daily chart of TVC:USOIL It created a GAP jump right at the opening of trading earlier this week and recovered slightly from the upper edge of the price channel. Although WTI crude oil recovered, it still has not reached the closest support level with the target of around 67.14 - 66.44USD, so WTI crude oil still has the ability to fall further before "filling the GAP". Usually, price gaps are filled, but this is sometimes not immediate, it can happen over the next one or more months, the important thing in trading is that it depends on the trend. WTI crude oil has been under pressure from the EMA21 moving average. Note to readers in the previous issue of WTI crude oil, along with that, the Relative Strength Index broke down from the 50 level, showing that The downside potential is very wide and the slope of the RSI also shows a huge downward momentum. Technically, WTI crude oil has enough pressure to decrease in price with main resistance at EMA21 and the 0.236% Fibonacci retracement level. Along with the downtrend, notable technical levels of WTI crude oil will be listed as follows. Support: 67.14 – 66.44USD Resistance: 68.59 – 69.73 – 70.56USD
TVC:USOIL
by Xayah_trading
#202443 - priceactiontds - weekly update - wti crude oilGood Evening and I hope you are well. tl;dr wti crude oil: Dead zone 70 - 72. Best not to trade it and wait for the breakout. I have no opinion on who wins it. For me to believe the bullish breakout to be good, I need to see follow through selling above 73, otherwise it could still be just a retest of the previous support. Quote from last week: comment: Bulls started ok on Monday and the close was neutral but Tuesday really killed every last bull who bought above 71 and hoped for a second leg up above 75. Market has now left a giant bearish island reversal between 71 and 72.5 and that is as bearish as it gets. Bulls last hope now is to hold above the bull trend line at 68. comment: Bulls actually managed to hold it above 68 and the trend line but failed to close the bear gap completely. This leaves us in nowhere land between 70-72 and a proper triangle. Play that until it’s clearly broken. No more deeper analysis needed. current market cycle: trading range (triangle on the weekly tf) key levels: 63 - 78 bull case: Bulls need a daily close above 72.7 for a chance of retesting north of 75. Below 68 things get really spicy. Invalidation is below 68. bear case: Bears need a daily close below the bull trend lines (also head & shoulders neckline) for lower prices. First would be below 69 and second is below 68. If they manage that, market is free to test down to 66 and then 64. If the neckline breaks, measured move would be 59ish but that is very far fetched. Invalidation is above 72.7. outlook last week: short term : Neutral 68-70 but leaning bearish near 71. Not the best spot to trade currently. → Last Sunday we traded 68.69 and now we are at 71.78. Decent outlook. short term: Neutral 68-70 but leaning bearish near 71. Not the best spot to trade currently. medium-long term - Update from 2024-10-20 : No idea where this wants to go in the remaining 2 months of this year so I am neutral until we have a better pattern. The big triangle on the weekly chart is alive and until that changes, no more updates. current swing trade: None chart update: Adjusted bear gap
NYMEX:MCL1!
by priceactiontds