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2024-12-11 - priceactiontds - daily update - wti crude oilGood Evening and I hope you are well. tl;dr wti crude oil futures - Neutral. Having a hard time being bullish inside trading ranges and unexpected moves higher. Volume is utter trash and yet market broke above last weeks high and the bear trend line. Bulls want 71 next but I would not be surprised if we go down to 68 or even 67 again. comment: Daily chart shows the trading range which is still contracting but the very small break above last weeks high is a start for the bulls. Buying at previous resistance inside a trading range is always a bad trade. I’d rather wait if bulls come around big time on a pullback and see if it has strong momentum and can break above 70.5. current market cycle: trading range key levels: 67 - 71 bull case: Bulls made a small higher high and now want 71 next. The rally is not particularly strong and the volume is also atrocious. I don’t have many arguments for the bulls here. Invalidation is below 66.27 bear case: Bulls have not printed more than 2 consecutive bull bars for almost 2 months now. Bears see that, previous resistance 70.5 from last week and still a bear trend line close enough. They have much more reasons to sell this, than bulls have for buying it. Invalidation is above 70.6. short term: Neutral. I wait for one side to gain momentum again but my bar for the bulls is higher than for the bears. I don’t have an opinion on where this goes next. For me it’s 50/50 if we go down to at least 69 or higher to 71. medium-long term - Update from 2024-11-10 : Unless an event comes up, this will very likely close around 70 for the year. current swing trade : Nope trade of the day: Tough. Long was obviously right but there were so many trend lines that could have been resistance, it was much more reasonable to not take the longs than to hope for a breakout above multiple trend lines.
NYMEX:MCL1!
by priceactiontds
TradeCityPro | WTI Analysis Fundamental and Technical Insights👋 Welcome to TradeCityPro Channel! Let’s step away from the crypto space and analyze West Texas Intermediate (WTI) from both technical and fundamental perspectives. 🌍 Fundamental Overview Supply Dynamics: U.S. shale oil production and OPEC+ decisions are key drivers. Escalating tensions in the Middle East, such as the Israel-Gaza conflict or Iran-related sanctions, pose significant risks to global oil supply. Demand Trends : Economic growth and seasonal fluctuations influence demand, but the rise of renewables signals a gradual reduction in reliance on crude oil. Geopolitical Factors : The Middle East, a hub for major oil producers, heavily impacts markets. Regional conflicts often lead to price spikes due to supply concerns. Macroeconomic Trends : A stronger U.S. dollar and rising interest rates suppress oil demand, while inflationary pressures support higher prices. Recent instability in the Middle East has heightened market volatility, underlining WTI's sensitivity to geopolitical events. 🕒 4-Hour Time Frame In the 4-hour timeframe, WTI has been trending downward, nearing a key daily support level at 66.938, which has held multiple times and may attract buyers, shifting momentum. 📈 Long Position Trigger wait for the 4-hour trendline breakout and trigger confirmations, such as RSI exceeding 73.48. The current 4-hour candle breaking the trendline could signal entry. 📉 Short Position Trigger if the candle is rejected and turns red with strong bearish momentum or breaks below 66.938, it could trigger a sell opportunity in the market. 📝 Final Thoughts This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
BLACKBULL:WTILong
by tradecitypro
6
WTI Oil H4 | Potential bullish bounceWTI oil (USOIL) is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 68.47 which is an overlap support. Stop loss is at 67.59 which is a level that lies underneath a pullback support. Take profit is at 69.66 which is a pullback resistance that aligns with the 78.6% Fibonacci retracement level. 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:USOILLong
by FXCM
WTI Oil H4 | Falling to multi-swing-low supportWTI oil (USOIL) is falling towards a multi-swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 66.90 which is a multi-swing-low support. Stop loss is at 66.23 which is a level that lies underneath the 127.2% Fibonacci extension level. Take profit is at 68.51 which is an overlap resistance that aligns close to the 50.0% Fibonacci retracement level. 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:USOILLong
by FXCM
Bearish drop?WTI/USD has reacted off the resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit. Entry: 68.74 Why we like it: There is a pullback resistance level that aligns with the 50% Fibonacci retraecment. Stop loss: 70.41 Why we like it: There is a pullback resistance level. Take profit: 67.09 Why we like it: There is a pullback support level that aligns with the 127.2% Fibonacci extension. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
VANTAGE:USOUSDShort
by VantageMarkets
Oil prices rebound on expectations of Chinese economic stimulus Oil prices rebounded as Chinese authorities demonstrated their strong will to stimulate the economy. Chinese authorities announced that they will continue to respond to the economy with a more active fiscal policy, focusing on expanding domestic demand and stimulating consumption. Meanwhile, Aramco announced it would cut its OSP for Asian refineries to 90 cents lower per barrel. This is the lowest since Jan 2021, when global demand was weak due to the pandemic. USOIL briefly broke below the support at 67.60 but rebounded, compensating some of the decline. However, the price stays within the downward channel, maintaining bearish momentum. If USOIL breaks below 67.60 again and the channel’s lower bound, the price may fall further to 64.80. Conversely, if USOIL breaches above EMA78 and the channel’s upper bound, the price could gain upward momentum toward the 70.00 threshold.
TVC:USOIL
by inkicho_exness
WTI recovered slightly, the outlook tilted to the downsideWTI TVC:USOIL increased slightly in the Asian trading session on Monday (December 9), trading around 67.50 USD/barrel. Oil prices fell sharply last Friday, closing near their lowest level, mainly due to expected declines in global demand. However, expectations that the Federal Reserve will cut interest rates in December increased following the release of US nonfarm data. According to CME Group's FedWatch, federal funds rate futures trading points to the possibility of a 25 basis point rate cut by the Federal Reserve. point in December was nearly 90%, which will provide some support for oil prices. Currently, uncertainty about the geopolitical situation increased again at the weekend, making the medium-term recovery of oil prices still not optimistic. In the short term, crude oil traders need to continue to observe whether the pressure brought about by the geopolitical situation on the supply side will support oil prices to continue to recover. Essentially, this week will continue to focus on changes in inventory data and whether demand-side pressures ease. This week, the financial market in general and the crude oil and WTI crude oil trading market in particular will focus on US CPI data. On the daily chart, WTI TVC:USOIL although it recovered slightly in the opening Asian trading session today (December 9), it still has all the technical factors supporting bearish expectations. With the long-term trend being noticed by the price channel followed by the short-term price channel, it has both a long-term and short-term trend of decreasing prices. On the other hand, WTI crude oil is also under main pressure from EMA21 along with the 0.236% Fibonacci retracement level. In the short term, if WTI crude oil is sold below 65.28USD, there will be a prospect for a new downtrend to open, and the technical point of 68.34USD is the closest resistance currently. The relative strength index also maintained price activity below the 50 level, which should be considered a negative signal for WTI crude oil technically. During the day, the technical outlook for WTI crude oil on the daily chart leans bearish with notable points listed below. Support: 66.44 – 65.28USD Resistance: 68.34 – 69.51USD
TVC:USOILShort
by Xayah_trading
My Bearish Setup in Progress on WTI Crude Oil WTI crude oil has been in a steady downtrend and recently formed a potential supply zone (purple area) around $69.50–$70.15, aligning with a key inefficiency. Price action suggests a bearish reaction at this zone, with the potential for lower highs before a continuation to the downside. Liquidity below $66.68 is the next probable target as sellers dominate the market. The setup favors waiting for price to tap into the supply zone, showing clear rejection signs before executing shorts. A break below recent lows would confirm bearish momentum, with further downside targets in the $65.50–$64.50 range.
BLACKBULL:WTI
by TopGBanks
#202449 - priceactiontds - weekly update - wti crude oil futuresGood Evening and I hope you are well. tl;dr wti crude oil futures: Neutral af. Two weekly bear bars closing on their lows the past two weeks. Before that we had 12 weeks of most alternating bull/bear weeks. Can you get bearish now for a stronger leg down? I highly doubt it. Market has not had a weekly close below 65.6 for exactly a year. 65.6 is the November low and I expect it to hold. So looking for longs is probably the way to go but bulls only produced one single bull bar in the past 2 weeks. Need more buying pressure before looking for higher targets. I won’t touch it for now. Quote from last week: comment: The most likely outcome was a continuation of the trading range and that’s what we got. Bears are on their way to test 67 again and the market now have formed a head & shoulders pattern like in August where we broke down to make new lows. Most h&s patterns fail and are just continuation patterns. We will likely get the answer to that next week. Anything between 68 and 70 is a dead zone and I will only be interested in longs around 67, if bulls come around again. Shorts do not make sense below 70. comment : Bulls are not doing enough but bears are also barely making new lows. Market is mostly two sided and stuck inside an 8$ range for 2 months. Don’t over analyze it. current market cycle: trading range key levels: 65 - 73 bull case: I won’t make up stuff here. Market has no direction for years now and the range is contracting. Bulls want to stay above 66 and test the upper bear trend line around 70 again. That’s about it. Invalidation is below 66. bear case: Bears are in control but it’s clearly a very weak trending trading range. We are inside nested triangles on higher time frames and selling below 67 has not been profitable for more than an intraday scalp since mid 2023. It hasn’t been profitable to get bearish below 67 for that long, why would you now. Invalidation is above 71.6. outlook last week: short term: Neutral 68 - 70 and I doubt we make lower lows below 66. Even if bears push below, downside is likely limited. → Last Sunday we traded 68 and now we are at 67.2. Good outlook but trading ranges are not rocket science. short term: Neutral 68 - 70 and I doubt we make lower lows below 66. Even if bears push below, downside is likely limited. Can’t change much of last weeks short term outlook, since it’s still valid. Bears have targets below 66 but until they get a daily close below it, we continue sideways. medium-long term - Update from 2024-11-10: Unless an event comes up, this will very likely close around 70 for the year. current swing trade: None chart update: Nothing worth mentioning. Again.
NYMEX:MCL1!
by priceactiontds
WTI OIL Bullish break-out to $76 imminent.WTI Oil (USOIL) is so far following our last call (November 26, see chart below) on high precision as, after once last pull-back to the Support Zone, it is now rebounding: As you can see now on this 1D chart, the price hit the 1D MA50 (blue trend-line) today but based on the other 2 November attempts, even a candle close above it doesn't translate into a sustainable break-out. Contrary to that, however, those 2 attempts weren't supported by a 1D RSI Higher Lows base similar to September's. As you can see that same pattern was that initiated the rebound on the Support Zone that broke above the 1D MA50 and extended even above the 0.786 Fibonacci retracement level and tested the bottom of the 4-month Resistance Zone. As a result, our $76.00 Target remains intact, which is marginally above the 0.786 Fib and projected to be just below the 1D MA200 (orange trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
1
2024-12-03 - priceactiontds - daily update - wti crude oilGood Evening and I hope you are well. tl;dr wti crude oil futures - Neutral. Bulls did what they had to, to prevent a flush down to 66. Market traded above 70 and we made a higher low. Bulls would need to print 71.5 for a higher high and I can’t see that happening as of now. Chop between 68 and 70 is most likely here. comment : Midpoint of this triangle is around 69.3 and this will be a magnet until we either make higher highs or lower lows. It’s a trading range, don’t over analyze it. current market cycle : trading range (big triangle on the daily chart) key levels: 66 - 70 bull case: Bulls had a decent day and turned the market completely neutral again. Only above 71.5 they are favored for higher prices. For tomorrow I expect some more sideways price action between 69 and 70.5. Invalidation is below 66.27 bear case : Bears need to keep it below 71.5 or we are making higher highs again. They tried to close below 68 for 4 days and today we saw bears giving up on it. Bears are still favored to keep it inside the triangle, so either play the range or don’t trade at all. Betting on a huge breakout is not a decent strategy after going sideways for so long. Invalidation is above 71.5. short term: Neutral inside the triangle. Area round 70.5 should be huge resistance. medium-long term - Update from 2024-11-10 : Unless an event comes up, this will very likely close around 70 for the year. current swing trade: Nope trade of the day: Could have longed anywhere and made money. 1h 20ema is strong support until broken.
NYMEX:MCL1!
by priceactiontds
WTI CRUDE OIL: targeting 95.00 with support by the 1M MA100.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 51.599, MACD = -0.340, ADX = 19.425) as the price hasn't practically moved for 3 straight weeks. Even the 1W RSI remains neutral (RSI = 46.004) as the last 4 candles have closed inside the 1M MA50 - 1M MA100 range. The 1M MA100 is basically supporting the pattern since April 2021. As long as it does, chances are will see a strong rebound to the R1 level, a price action much like what followed the 2013 consolidation that pivoted to Leg (4). A similar S1 Zone was supporting on the 1M MA100. Consequently, we turn bullish on WTI expecting a R1 test in the coming months (TP = 95.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
1
Oil prices fall despite positive Chinese manufacturing data Oil prices dropped for two consecutive days due to a strengthening dollar despite positive manufacturing data from China. The November Caixin manufacturing PMI in China hit 51.5, surpassing the expected 50.5 and marking the highest level since last June. Attention now turns to the OPEC+ meeting on the 5th, where the group will discuss whether to extend crude oil production increases. Originally, OPEC+ planned to raise production by 180,000 barrels per day starting in January, but concerns about oversupply may delay this decision. After briefly testing the support at 67.60, USOIL rebounded slightly. The price stays within the descending channel, and the gap between both EMAs has widened further, indicating bearish momentum. If USOIL breaks below the channel's lower bound and 67.60, the price may fall further to 64.80. Conversely, if USOIL breaches above both EMAs and the channel’s upper bound, the price could gain upward momentum to 70.00.
TVC:USOIL
by inkicho_exness
#202448 - priceactiontds - weekly update - wti crude oil futuresGood Evening and I hope you are well. tl;dr wti crude oil futures: Bearish. Bears printed 4 consecutive bear bars and made new lows. Next target is 67. Only a daily close above 70 would do it for the bulls but even then the next bear trend line runs below 71. Market is once again forming nested triangles on the daily chart. Tough to trade. Quote from last week: comment: Was also bullish on this and bulls finally came around. Clear break of the bear trend line and next target is 72.6. Is this a very bullish structure? Hell no. I expect more sideways movement just in a bigger range 69 - 72/73 until the bear gap is closed. If bulls somehow manage to close it next week, we can expect 75+ next. Continuation of the current range is much more likely though and that is why you should not over analyze trading ranges. Market is in balance in the midpoint, so mark it and fade the extremes. comment: The most likely outcome was a continuation of the trading range and that’s what we got. Bears are on their way to test 67 again and the market now have formed a head & shoulders pattern like in August where we broke down to make new lows. Most h&s patterns fail and are just continuation patterns. We will likely get the answer to that next week. Anything between 68 and 70 is a dead zone and I will only be interested in longs around 67, if bulls come around again. Shorts do not make sense below 70. current market cycle: trading range key levels: 67 - 72.6 bull case: Horrible week for the bulls with a clear sell signal going into next week. They have to defend 67 or we will likely go down to 66 or 65.74 again. Bulls who bought 67 have made money since September and we have no reason to expect it to be different this time. Daily close above 69 brings 70 and 70.5 in play. Invalidation is below 67. bear case: I do think Monday’s bar was a big bear surprise and market went mostly sideways afterwards. They also had a really good reversal on Friday which is a sell signal going into next week. They want to test the November low 66.27 and break below the very shallow bull trend line to test 65.73 or the lower bull trend line starting December 2023 at around 64. Invalidation is above 71.6. outlook last week: short term: Bullish that we reach 72 but upside is probably limited after that. Pullbacks are likely to be bought if not too strong and if we stay above 68. → Last Sunday we traded 71.24 and now we are at 68. Outlook was just plain wrong and that was already clear on Monday at US open. Market basically went nowhere after that. short term: Neutral 68 - 70 and I doubt we make lower lows below 66. Even if bears push below, downside is likely limited. medium-long term - Update from 2024-11-10: Unless an event comes up, this will very likely close around 70 for the year. current swing trade: None chart update: Nothing worth mentioning.
NYMEX:MCL1!
by priceactiontds