Usoilsignal
Usoil-analyze
Keep asking me about oil. Last week I emphasized that oil did not fall below 74 and will continue to rise this week
It can be seen that yesterday the lowest oil price reached around 75.8 and the highest reached around 78.2, but it did not break through 78 many times, so it can be judged that the current range is between 75.8-78.2
In an upward trend, you mainly rely on support points to buy, or sell at high levels within the range, and adjust your strategy according to market conditions.
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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-Market trend analysis
Oil is still in an upward trend, wait for the right support point to buy
During the recent period, the highest point of oil was 75.8 and the lowest point was 70.5.
Daily line: 67.71 support point, 79.8 resistance point
4H: 70.5 support point, 76.18 resistance point
These three important resistance points are 76.1-76.7-77.1
I see the possibility of oil bottoming at 70. The upward trend at this stage may reach 78-80. The previous shock range has gradually broken through. At this stage, as long as it does not fall below 74 this week, it is not recommended to trade short orders.
The above is my oil analysis. The market changes rapidly. The prediction needs to be combined with the market trend to achieve expectations. The above analysis is for your reference. I will continue to follow up and share in the future.
Today’s strategy:
Usoil:buy74.5-74.8
TP:75.3-75.8-X
SL:73.8
You can make appropriate adjustments based on your trading habits and funds
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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!
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!
Monday: Crude oil continues to fluctuate in a rangeOil prices ended slightly higher last week after the International Energy Agency (IEA) and oil producer group OPEC jointly forecast strong growth in global oil demand and cold winter weather disrupted U.S. crude output, while the government reported a sharp weekly reduction in crude oil production.
Crude oil is expected to continue to maintain a volatile trend during the day. The technical aspect will focus on the support near 72, and the upper side will first focus on the resistance near 74.5. Sell high and buy low.
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.
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
Under the influence of the current conflict in the Red Sea, oil has made a short-term correction under the pressure of a strong US dollar. Technically, the long and short positions have alternated, and it still shows the wide range consolidation trend that has been emphasized recently. The last trading day fluctuated from around 72 and hit a maximum of 73.5. The pressure nearby fell back below 72 as expected, and is now testing the support below again.
Usoil:buy70.2-70.6
TP:71.3-71.7-72
SL:69.7
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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-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
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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.
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Good luck, everyone!