Wait for crude oil to rebound and focus on 75.3 supportCrude oil was still in an upward channel in 1H/4H. Before the previous low of 75.3 was destroyed, we followed the strategy of selling high and buying low.
Usoilprediction
US OilPair : Crude Oil
Description :
Double Top as an Corrective Pattern in Short Time Frame
Completed Impulsive Waves and Correction
RSI - Divergence
Rejecting from the Resistance Level
Break of Structure and Completed the Retracement
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.
OIL BULLISH MORE !!HELLO FRIENDS!!
As I can see USOIL is now trading above the uptrend line and it will be more bullish because of Asian Demand and War in Middle East Technically also it showing us clear view that it is holding above the support level and trading in bullish trend after a small reversal we expecting more buys in USOIL Trade As you can see our pervious entry on USOIL is preforming great job chart is attached in comment and we are loading more bags on this after a little Dip Friends Geopolitical Issue vs Supply & Demand is a clear view for Oil Prices It's just a trade Idea share Ur thoughts with us it help many other traders Stay Tuned for more updates.
Crude oil: encountering support above may lead to a decThe upper pressure positions are 73.7/74.1 respectively, the lower support position is 72.3 in the middle of the descending channel, and the bottom of the channel is 71
Crude oil prices fluctuated up and down in the short term today.In terms of crude oil, we continue to pay attention to the idea of shocks during the day. With the current unstable situation in the Middle East and the surge in OPEC crude oil production, the market outlook continues to be dominated by shocks. Technically, focus on the upper pressure near 78.40 during the day, and the lower support is around 76.65/74.7
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!
🛢️📉 Crude Oil Breaks Down: Brace for Aggressive Drop 💥🔻$60/bIt looks like the 45-minute breakdown has occurred, which could lead to a bearish trend in both the weekly chart and the February monthly candle.
Our swing trade has two targets:
- The first target is $60.
- The second target is $40.
Please note that this is a long-term trade and we're making this decision quite early.
Remember DXY is still very strong signalling that commodities in general are expected to be weak.
Crude Oil Impulse Done ?Pair : US Oil
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Rejection from Upper Trend Line. Completed " ABC " Corrective Waves and " 12 " Impulsive Waves and making its " 3rd " Impulsive Wave. Break of Structure and Completed the Retracement
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.
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Crude oil moves up and down, how to trade todayThe fundamentals of crude oil are still greatly affected by the geopolitical situation in the Middle East. The technical aspects are still looking for high points to sell during the day. The following focuses on the resistance and support of 71.70~71.2.
At the weekend, we need to pay attention to the impact of changes in the regional situation on crude oil.
US Oil 18/01Pair : US Oil
Description :
Bearish Channel as an Corrective Pattern in Long Time Frame with the Breakout of the Upper Trend Line. Completed " 12345 " Impulsive and Making its Correction. EXP FIAT in Short Time Frame and Rejection from Upper Trend Line. Divergence and BOS
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.
US CRUDE OIL 4H : Under 70.82 will drop moreUS Crude Oil
New forecast
Oil price trading stabilizes below the broken support at the level of 72.90, so that the bearish trend scenario remains valid and effective for today, which targets levels of 70.18 and then 69.15 as the next main stations. and to confirm the bearish trend it should stable under 70.82 level and then our targets will be activate .
Therefore the downward scenario will be remain valid and effective during coming period supported by moving average 50 , we remind you of the importance of stability below 72.90 as a first condition for a continuation of the decline, as breaching it may encourage the price to achieve a temporary rise before returning to the decline again.
The expected trading range for today is between support 69.15 and resistance 72.90 until stabilized .
support line : 70.18 , 69.15
resistance line : 72.19 , 72.90
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15/1 crude oil trend analysisInternational crude oil futures rose 1% last Friday. Although they rose, they could not erase last week's decline. Last month, OPEC and its allies pledged to cut production by 2.2 million barrels per day in the first quarter of 2024. After oil prices surged sharply last Friday (January 12), they gave back all their gains, which means that short sellers may make further counterattacks this week. Crude oil prices fluctuated up and down last week, with the daily chart moving up and down in a regular pattern. The 4-hour chart has rebounded with repeated dips, but it has held the low point for the time being, and the low point is rising slightly. However, the high point resistance has not yet been broken through, which makes the short-term space unable to see sustainability, and it is not ruled out that this kind of saw-saw type of washout will continue.
Today's crude oil trading has begun. I hope you can make profits in the volatile market.
Usoil-Has broken through
Oil has risen amid fears of potential supply disruptions amid recent criticism of Yemen's Houthi rebels over a UN resolution on Red Sea navigation
Usoil:buy73.6-74.05
TP:74.5-75
Now that it has broken through the recent range, follow the trend in the short term.
Join me and I will continue to analyze how to trade
🛢️📈 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.
USOIL: Key position 73-73.4
USOIL is currently near the key resistance level. If it can break through here, it will have the opportunity to form a head and shoulders bottom pattern, and then there is a high probability of reaching around 76.
But if there is no strong breakthrough here, the head and shoulders pattern will fail, and it is highly likely that the support near 72 will be backtested.
Therefore, in the trading starting tomorrow, you can focus on the resistance near 73-73.4 and decide the trading direction based on the breakthrough.
On the 45m chart, the pattern is slightly in favor of the bears, looking ahead to Monday’s market options.
If you encounter problems during transactions, you can leave me a message!
Good luck, everyone!
Thursday:Crude oil narrowed and fluctuated Oil prices fell in volatile trading on Thursday as U.S. crude inventories exceeded expectations and concerns about the Red Sea crisis eased. Crude oil's Xiaoyin cross K-line retraced yesterday and settled flat. In line with the rebound of the previous day's big Yang line, it did not make a further strong reversal upward, but went back down. At present, the daily line is still rebounding based on 69.30 as the bottom. If it does not fall below 69.30 in the short term, it will tend to rebound first. Let’s see if it can start a steady rise today. 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. Of course, the process will still oscillate repeatedly. For short-term operations, set the time point after the European market, and the final market shape shall prevail. Use the intraday form stuck point to respond flexibly in the ultra-short term. 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 of 71.0-70.0 at the bottom.
Strategy reference: It is recommended to enter the market with multiple orders at 72.2-72.4, plan in advance, and pay attention to updates for more signals↓
Thursday: Crude Oil Market Analysis and StrategyOil prices rose in Asia on Thursday, with WTI oil prices hovering around 73.6. Disruptions in Libya's top oil fields heightened concerns that rising tensions in the Middle East could disrupt global oil supplies, and international crude oil prices climbed about 3%. The two crude oil benchmark prices closed higher for the first time in five days, with WTI crude oil rising the most since mid-November. Later on Thursday, U.S. ADP employment changes and weekly initial jobless claims will be released. Traders will take more clues from U.S. employment data on Friday, including non-farm payrolls, the unemployment rate and average hourly earnings due on Friday. The daily line of crude oil closed with the Zhongyang line with a long lower shadow, and there is a high possibility of stopping the decline in the short term. The 1-hour cycle has entered the early transaction intensive area, there is the possibility of a small cycle reversal, and there is a high probability of rising within the day. It is recommended to pay attention to the first-line support of $72.20 below.
Strategy reference: It is recommended to enter the market with long orders at 72.2-72.4
This is a plan ahead, more strategies are waiting for updates👇
Monday. Crude oil falls under pressureCrude oil prices remained weak in Asian trading on Tuesday and are currently trading around 72.6. During the day, we will pay close attention to the US PMI to be released later on Tuesday. Later this week, the Federal Open Market Committee (FOMC) meeting minutes will be closely watched ahead of Friday's U.S. non-farm payrolls (NFP) report.
The crude oil market was at 73.67 at the beginning of last week. Afterwards, the market initially rose, reaching a weekly high of 76. Then the market fell back strongly, with a weekly low of 71.05. Afterwards, the market consolidated and finally closed at the end of the week. The line was at 71.12, and then the market closed with a big negative line with a long upper shadow line. After this form ended, crude oil continued to be under pressure. In the 4-hour chart, the pressure on the 76.30 line changed and fell, and the structure fell in a wave. It is still in the rebound trend. The Bollinger Bands are running below the middle track, and the middle track 73.5 is an important resistance point.
Personal suggestion: short on rebound; WTI dividing line: 73.5
