USOIL - Look for a long ✅Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for a long. I want price to make a retracement to fill the imbalances lower and then to reject from bullish order block + trendline.
Like, comment and subscribe to be in touch with my content!
Usoilforecast
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.
Crude oil has an obvious upward trendDuring the day, focus on the support near 76.70 to maintain a bullish attitude. The situation in the Middle East is currently escalating, and the probability of crude oil rising in the market outlook is relatively high. Above, focus on the resistance of 78.40/79.3
USOIL:Continue longHello friends, Luke here again. As a recipient of several regional trading awards, I'm excited to be part of TradingView where I can share my strategies with you daily, hoping to be of assistance.
I've previously emphasized a bullish target for crude oil at $80. Currently, the upward trend is clear, and dips should be seen as opportunities to go long. The buying zone to focus on is between $77.6 and $76.
I update my market analysis daily and also share precise trading signals within my exclusive group, Luke's Circle, to help you achieve steady and long-term profits in your account. Don't miss out!
OIL: Red Sea tension could support Oil price in short term🔴 Oil jumped as the US and its allies launched airstrikes against Houthi rebels in Yemen, retaliating for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway.
President Joe Biden said strikes had been conducted against a number of targets used by the Iran-backed group, with US officials saying radar sites and missile launchers were hit. A tanker industry group said military forces in the region were advising ships to avoid a key chokepoint near Yemen. The Houthis said all US and UK interests are now legitimate targets.
🔴 The main upside risk for prices concerns Iran and whether it’s drawn directly into the conflict, which could threaten oil supply in a region that produces a third of the world’s crude. The war-risk premium had previously been easing amid ample output from non-OPEC+ producers and slowing demand growth.
🔴 From our point of view, geopolitical tensions could support Oil Price in the short term, and from a technical point of view, our first Target is just below $80.
Trade with care
Like | Share | Comment
USOIL: Continue to Go Long Next WeekHello, friends. I'm Luke, a former champion trader in multiple regions, and I'm delighted to join TradingView to share my strategies with you every day, hoping to provide assistance.
This week, I've analyzed that crude oil is expected to continue rising to the range of $78-80 per barrel. Today, it has reached a high of $77.5 per barrel, and I remain optimistic about the future upward movement of crude oil. If it retraces to the range of $73-75 per barrel, consider going long once again!
I update my market analysis daily and also send accurate trading signals within Luke's small group to help stabilize and sustain profitability in your accounts. Don't miss out!
Crude oil’s short-term uptrend on TuesdayGlobal energy markets continue to be rattled by the growing likelihood of supply constraints, with successful attacks in Ukraine on Russian oil infrastructure highlighting how easy it is to disrupt broad energy supply chains. WTI tested multi-week highs on Monday as market tensions mounted.
The short-term (1H) trend of crude oil has recovered, and oil prices have broken through the resistance at the upper edge of the triangle. The moving average system is gradually arranged in a long position, and the short-term objective trend is upward. Pay attention to the strength and continuity of today's rise in oil prices, and it is expected that there is a high probability that the rise will continue during the day.
usoil: Expected to Rise to $80 in the FutureHello friends, I'm Luke, a former champion trader in multiple regions. I'm excited to join TradingView and share my strategies with you every day, hoping to provide assistance.
Crude oil has established a bottom around $70, and those who bought in heavily near this level have already reaped substantial profits. Personally, I anticipate oil to stabilize around $80 in the coming month, with any further declines seen as buying opportunities.
Key support levels to watch are $72-$70. Buying can be considered upon reaching this area, with target levels focused on $76-$78-$80.
I update market analysis daily and also send accurate trading signals within Luke's small group to help ensure the long-term stability and profitability of your account. Don't miss out!
USOIL - Look for a long ✅Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: As we can see here price changed the character after taking sell side liquidity and started to form higher highs and higher lows. Now I look for a long position if price makes a retracement to fill the imbalance and then to reject from bullish order block.
Like, comment and subscribe to be in touch with my content!
Crude oil continues to fall, the short-term outlook is 70~70.5Selling near 71.6 in the morning has already made a profit of 60pips.
In terms of crude oil, we will pay attention to the resistance of 72.20-72.30 during the day. The support below needs to be towards 70.90. If it falls below, it will continue to fall by 70~70.5. Original post: The current trend is dominated by bears.
Usoil-Range trading analysis
The U.S. EIA crude oil inventory unexpectedly rebounded. Although oil-producing countries such as OPCE+ and Saudi Arabia are fully confident in stabilizing the crude oil market, the market performance is poor and the demand side is relatively weak. As a result, oil is currently in a range-bound state.
Usoil:sell72.75-73.1
TP:72.3-72
SL:73.3
In volatile market conditions, control positions reasonably and set SL
I will continue to analyze my views, join me, follow me
🛢️📉 USOIL Hits Resistance: Sell with $67 Target in Sight 🎯🔴We have noticed that crude oil has been unable to break through the resistance level on the 1-hour chart and has now entered a selling zone. This may lead to a decline in prices to $67. It's important to keep in mind that when the crude oil market is bearish, it often sets a bearish trend for the overall market.
Tuesday: Crude oil market analysisWTI crude oil prices may be reversing from the decline as the commodity price formed an inverted head and shoulders pattern on the hourly time frame. Prices have yet to break above the neckline around $74 a barrel to confirm the uptrend, and may be followed by a rebound of the same height as this pattern. However, technical indicators suggest that this decline will continue. The 100 SMA is below the 200 SMA, indicating that the path of least resistance is to the downside or that a sell-off is more likely to gain traction rather than reverse. The stochastics are also pointing downwards, indicating that selling pressure is building while buyers take a break.
Similarly, the RSI is moving downwards, indicating bearish momentum is building, and the oscillator has plenty of room to move lower before indicating oversold. In this case, crude oil is likely to continue to follow the trend with sellers in control and may test lows of $70 per barrel. Personal suggestion: go short on the rebound
🛢️📈 Crude Oil Outlook: Ready for a Rally Back to $93! 🚀🎯💥There is a positive divergence on the daily chart of crude oil. This indicates a strong possibility of a rally to test $93. Other commodities such as gold, silver and natural gas have also shown the same signal today. Meanwhile, the US Dollar is displaying a high bearish signal.
The tensions in the Middle East may lead to positive market performance.
Monday: Crude oil focuses on the 71/72/74/75 areaOn Monday (January 8), international U.S. crude oil prices traded around $72.85 per barrel. U.S. non-farm employment growth in December exceeded expectations, prompting financial markets to lower expectations for an interest rate cut by the Federal Reserve in March. The risk posed by tensions in the Middle East is an important factor in the price rebound. Geopolitical tensions have pushed up trading premiums, and strong jobs data also pointed to strong fuel demand.
In the 4-hour chart, a wave of decline gave up nearly half of the previous gains. It is currently in the process of confirming the retracement. Bollinger Bands closed, the short-term entered a contraction and shock, and the long-short tug-of-war switched. It is not a strong unilateral market. After the second retracement, pay attention to whether it can start a stable recovery above the low point. If it starts to stabilize, continue to watch the rebound.
On the whole, it is suggested that the day-to-day operation of crude oil should focus on the first-line resistance of 74.0-75.0 at the top and the first-line support at 72.0-71.0 at the bottom.