Get started

WTI (Crude Oil)

MY TV COMPETITION WTICOUSD LONG IDEA 01/11/2024Direction: Long SL: 66.862 Indicators: 1. MA (20,50,100,200) 2. Trendline - Algo 3. Support and Resistance 4. Fib Level 5. I also use MT5 - Tradingcentral tools Technical: 1. MA 20 Yellow is below the MA 100 and 200 (Purple and Red) but looking for it to reverse and go up and above the 50,100, and 200. 2. Green Trendline was broken recently. 3. Price bounced off from a support zone. 4. FIB level at 0.382. 5. Tradingcentral tool signaling Rise on Time frames 15m,1h,and 4h but it is bearish and signaling DECLINE on daily time frame at the moment. Fundamental and economic: 1. Geopolitical tension is adding some volatility to OIL prices. 2. I use Edgefinder tool which shows me a score of -3 "bearish" on USOIL but I think this trade idea is for short term and more of a "I predict that this might go to xyz based on the technical and fundamental insights". 3. We are in Q4 and usually there is alot of volatility mostly bearish but I'm going against it since we have US elections coming up.
OANDA:WTICOUSDLong
by stingotho
Texas Oil to continue in the downward move at market price?WTI - 24h expiry Our short term bias remains negative. Our bespoke support of 77.06 has been clearly broken. Previous support at 77.50 now becomes resistance. We look for a temporary move higher. We look for losses to be extended today. We look to Sell at 77.50 (stop at 78.30) Our profit targets will be 75.50 and 75.15 Resistance: 77.13 / 77.50 / 78.00 Support: 76.60 / 75.80 / 75.4 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:WTICOUSDShort
by OANDA
WTI support continues to attract buyers.WTI - 24h expiry Bespoke support is located at 80.70. Offers ample risk/reward to buy at the market. Our short term bias remains positive. 50 4hour EMA is at 80.73. 80.59 has been pivotal. We look to Buy at 80.75 (stop at 79.95) Our profit targets will be 82.75 and 83.25 Resistance: 81.50 / 82.24 / 83.00 Support: 80.50 / 79.50 / 79.00 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:WTICOUSDLong
by OANDA
Brent Crude Oil Demand Spike(WTICOUSD, too)Looking forward to entering Long on BCOUSD after NFP today. Am not too eager to enter, if it happens, its good. If it doesn't happen, I am fine too, since today is Friday, and I have to hold my positions over the weekends. I am used to holding trades over the weekends, however I prefer the weekdays. Therefore, when Mondays roll around, I thank God its Monday! Anyway, our discounted price zone is the 10EMA based on previous Black Friday Sale discounts offered. Price made a kink in the 10EMA discount by offering 20EMA discount yesterday or so, however, I do not believe it would continue giving 20EMA discounts which is bigger discounts, because, the Flag Pole is very big and long, while the flag is minute. As usual, I am very aggressive at cutting losses, and moving my stop loss towards Breakeven and into profits. Once the trade is in, I will immediately shift my stoploss upwards by one tenth of the SL size, because my intention is never to price hit my full R loss. I am wrong many a times, by being too aggressive at cutting losses, moving my stop loss forward, etc and price continues to go in my favour after I am out of the trade, however, the results does show that I am profitable, and so, I will continue with my new ways. I began doing such aggressive SL shifting earlier this year at around February, and it has been profits for me ever since, week on week. 2002SGT 05042024
OANDA:BCOUSDLong
by ProfessionalDuckHunter
In the short and medium term, WTI is mainly bought. Due to delays in production cuts by OPEC countries. Oil experienced a slight decline, but some Arab countries decided to reduce production. So oil formed some support after a brief decline. As a resource product. To a certain extent, supply is also lower than demand, and the other is the promotion of geopolitics, so the operation is still based on buying at low prices. The club already has live signals announced. In the mid-term, buying is also the main focus.
BLACKBULL:WTILong
by T0_messenger
WTI OIL (USOIL) Technical AnalysisUpon examining the WTI (West Texas Intermediate) crude oil chart, we observe a robust bullish trend, accompanied by a retracement to the 78.6% Fibonacci level. This significant pullback warrants attention, as price action appears poised for a deeper correction. In our analysis, we consider historical price swings, taking into account seasonality patterns from previous years at the same time. By doing so, we explore the likelihood that institutional players may be positioning themselves to drive prices lower, targeting liquidity zones below previous support levels. Additionally, an imbalance is evident on the 4-hour timeframe. Disclaimer: This technical analysis serves as an opinion and should not be construed as financial advice. Traders and investors should conduct their due diligence and seek professional counsel before making any trading decisions.
TVC:USOIL
by tradingwithanthony
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
OANDA:WTICOUSDLong
by TheAnonymousBanker
9
🔄 WTICOUSD: Curve Analysis🔄West Texas Oil SLO2 @ 74.90 ⏳ SLO1 @ 74.33 ⏳ TP1 @ 73.20 TP2 @ 72.25 TP3 @ 71.50 TP4 @ 70.40 TP5 @ 69.75 SUPPORT @ 69.50 ADDITIONAL INFO: 🤔 If this LTF Curve Analysis holds on this 3H chart, then we'll have an opportunity to short 🏆 DAY TRADERS: +6.88% PROFIT OPPORTUNITY (max)‼️ ✍️ NOTE: Each TP is a POC where we expect market participation to switch from being supported by buyers to being resisted by sellers — USE THESE LEVELS AS BLOs or BSOs for your add-ons. 🔑 BLO = BUY LIMIT ORDER BSO = BUY STOP ORDER ITF = INTERMEDIATE TIME FRAME PA = PRICE ACTION POC = POINT OF CONTROL SL = STOP LOSS SLO = SELL LIMIT ORDER SZ = SUPPLY ZONE TP = TAKE PROFIT This is an Intermediate Time Frame trade (4 hours to 6 day): — Offers a clearer picture of the underlying trend compared to short-term frames. — Provides more opportunities for confirmation signals and technical analysis. — Allows for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders.
OANDA:WTICOUSDShort
by ProfessorCEWard
🔄 WTICOUSD: Curve Analysis (5D) 🔄West Texas Oil SLO2 @ 125.33 ⏳ SLO1 @ 113.33 📉 TP1 @ 90.45 💰 TP2 @ 71.25 💰 TP3 @ 57.05 TP4 @ 35.15 BLO @ 17.15 ⏳ ADDITIONAL INFO: 🤑 As anticipated, PA has hit our TP1 and TP2 🤑 Combined Net Equity is @ +37.13% 🏆 POSITION TRADERS: THIS IS A +84.87% PROFIT OPPORTUNITY (SLO to TP)‼️ ✍️ NOTE: Each TP is a POC where we expect market participation to switch from being supported by buyers to being resisted by sellers — USE THESE LEVELS AS SLOs or SSOs 🔑 BLO = BUY LIMIT ORDER ITF = INTERMEDIATE TIME FRAME PA = PRICE ACTION POC = POINT OF CONTROL SL = STOP LOSS SSO = SELL STOP ORDER SZ = SUPPLY ZONE TP = TAKE PROFIT This is an Intermediate Time Frame trade (4 hours to 6 day): — Offers a clearer picture of the underlying trend compared to short-term frames. — Provides more opportunities for confirmation signals and technical analysis. — Allows for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders.
OANDA:WTICOUSDShort
by ProfessorCEWard
oil and the secondary wave of inflation.before you read any further read my post from may: --- in may of 2023 i called the top on oil and projected we come down into the $50-60 range. we ended up playing it out quite flawlessly. a lot of people were very angry at me for whatever reason back when i was calling for the top, probably due to their elevated levels of confidence and greed. those people got wiped out. today, i bring to you a follow-up prediction, in line with my us10y prediction. --- i'm predicting that oil hits $181 per barrel over the next year, which will cause a secondary wave of inflation. --- oil w5 algo = $181
OANDA:WTICOUSD
by Eloquent
6
WTI to find buyers at market?WTICOUSD - 24h expiry Previous resistance level of 75.34 broken. Intraday, and we are between bespoke support and resistance 73.51-77.10. The sequence for trading is higher highs and lows. There is scope for mild selling at the open but losses should be limited. The medium term bias remains bullish. We look to Buy at 75.00 (stop at 74.20) Our profit targets will be 77.00 and 77.40 Resistance: 76.14 / 77.10 / 77.75 Support: 74.95 / 73.51 / 72.41 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:WTICOUSDLong
by OANDA
WTICOUSD: Ranging at the 200-Week SMAMy overall sentiment for Oil remains Bearish, though my midterm sentiment has been Bullish, as I think WTICOUSD needs to come back up to revisit some of the highs above 100 and face one last rejection from those levels before I will be fully convinced of oil making significantly lower lows. For the time being, Oil has dumped below last week's range but is now sitting at the 200-week SMA and at the old 50% retrace which could be where this Bearish Shark starts to act as a Bullish 5-0 which would demand an attempt of a Higher High. I think that it could attempt to hold out here as the RSI is oversold and the MACD is printing potential Hidden Bullish Divergence. My first target for oil, if this level holds is up, is at around $80, then $100, then $114, then $140-155. I will be looking for signs of weakness to potentially take profits at all of those levels on the way up. In the meantime, I will look at Oil Related Stocks: BP, BPT, DVN, IMPP and a few more. The XLE and XOP Exchange Traded Funds may provide a more general way to get exposure.
OANDA:WTICOUSDLong
by RizeSenpai
6
WTICO: Potential Bullish 5-0 Looking to Take USOIL Up to $105.30USOIL has recently retraced to the 0.382 from the PCZ of a Bearish Shark, but now it's looking to try and hold the 200 SMA and the 38.2-0.50% zone with Hidden Bullish PPO Divergence and an impending PPO Bullish Confirmation. If it does hold here, it could confirm a Potential Bullish 5-0 and if this 5-0 plays out, I think it could take USOIL above $100 and likely up to $105.30, as that would be the 61.8% retrace from high to low.
NYMEX:CL1!Long
by RizeSenpai
NATGASUSD Is About to Start Outperforming WTICOUSDWTICOUSD has developed a Diamond Top pAttern at the HOP level of a Bearish Shark and has given Bearish PPO Confirmnation Arrow at this level. Along with that, the PPO has broken below trend and may now look to crash lower. If we are to take all these indications into account, we can safely assume that WTICO is about to Bearishly break down from the Diamond it's formed against NATGAS. This could mean a few things, but mainly it means that either Natural Gas is about to start going up a lot or WTICO is about to start going down a lot, or maybe a combination of the two. In anticipation of this, I will primarily be buying Natural Gas Related Assets and Selling Oil Related Assets.
OANDA:WTICOUSDShort
by RizeSenpai
WTICO/USD, USD/JPY and AUD/USD on watch for me today.WTICO/USD: • If price pushes up to and ideally just above our outer structure upper rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above the upper rayline of our most recent piece of structure, then regardless of how it does so I'll once again be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. USD/JPY: • If price impulses back down below the upper trend line of our most recent piece of structure, it does so in a convincing manor and a subsequent tight flag forms, then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. AUD/USD: • If price impulses back up, it does so impulsively and in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
Editors' picks
by StewySongs
12
WTI Crude Oil (A strong pin bar is spotted!) View On WTI (4 May 2023) WTI is in * Downtrend in short term (Intraweek) * Downtrend in Mid term (Intramonth) * Downtrend in Long term (Last 3 months) Crude Oil had a very bearish condition recently. It went from $82 to $65 in the matter of days. But yesterday we had a strong reversal with and it managed to climb above $68. We may see $73 region soon. but please do not go in with the big lot size. We need more confirmation as well. Let's see. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading crypto, foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
OANDA:WTICOUSDLong
by SonicDeejay