CL-OIL trade ideas
Oil is still bearish but clearly at a key bullish zoneThe bullish array we are at now contains a flipped imbalance and can indefinitely hold price within it's boundary preventing a close lower close.
If this is the case, we will see heavy wicking in this area and a reverse to the high of the Friday candle high. Depending what happens at the high will determine what to expect next. The main observation that is speaking to us is how price wicked the entire iFVG flip range and closed on the edge of the FVG range. This will be important body level to watch going into next week.
We also expect this low to be wicked but we will have to see how we play the inducement that is going to build in this range.
Oil going up take two H4 time frame must be the first thing to consider when starting to trade. H4 should be above Simple Moving Average 5 all time.
WTI CRUDE OIL Bullish Signal on the Support.WTI Crude Oil is almost on the Rising Support trend line, following a rejection on Resistance (1).
This level previously starting October's strong rally and yet again signals a bullish opportunity.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 77.50 (Resistance 1).
Tips:
1. The RSI (4h) is oversold and has double bottomed. An additional strong bullish signal.
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USoil is BearishThis is how i see the whole point for USoil .
Patiently waiting for a structure to be broken at the down low ... Then the rest will follow.
Happy trading
USOIL - LONG IDEAUSOIL recently it broke the trendline and now retest Fib 0.786 perfectly with bullish hammer and also bullish div. if the market successfully sustain the next leg up could go for new HH.
OIL-BUY strategy 8-hourlyOIL has moved lower on the perception that we may eventually come to a conclusion. Technically it always was a SELL at higher levels, but markets always take it too far, until it realizes we are overdone.
Stochastic slightly negative, but SMI shows oversold status and RSI not extremely oversold, still feels we are closer to a bottom short-term than not.
Strategy6 BUY @ $ 67-68.50 and take profit near $ 73.50 for now. SL based on personal preference.
USOIL Faces Resistance: Bearish Trend if Pivot Retest FailsUSOIL Technical analyze
The price is currently below the pivot line at 71.78, indicating bearish sentiment. There is a possibility for a retest of the pivot area around 71.78 to 72.72. If the price fails to break and sustain above this area, it is likely to continue downward.
If the retest confirms resistance at the pivot line, the price may move towards the support level around 68.79. A break below this level could further extend the bearish trend, targeting lower support zones.
Best Direction:
Bearish: If the retest fails and the price holds below 72.72, the direction favors a move toward lower support levels, beginning with 68.79.
Bullish: If the price breaks and holds above 72.72, it may attempt to target higher levels, but this remains less likely under current conditions.
The overall bias remains bearish unless the pivot area is decisively broken.
Key levels:
Pivot Line 70.90
Resistance lines: 71.78, 72.72, 74.20
Support Lines: 69.90, 68.80, 65.90
Trend Outlook:
- Bearish while Under 70.95 and 71.78
- Bullish above 71.78
CRUDE OIL (WTI): Short-Term Bearish Sentiment
Crude Oil looks bearish after a breakout of a key daily horizontal support.
The next key supports are 68.5 - 69.2 and 66.4 - 67.4.
The price will most likely continue falling, at least to the first support.
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Short setup for WTI USOILBearish setup,
need confirmation about israeli situation;
but the OIL is oversold by reserves stock
Riding the Bull: USOIL Pushes Higher Amid Optimistic Market SentWith favorable supply-demand dynamics and geopolitical factors at play, USOIL is seeing a strong bullish bias. Growing global energy demand, OPEC production cuts, and macroeconomic signals are fueling optimism in the oil market. Technical indicators also show strengthening momentum as USOIL breaks key resistance levels, suggesting further upside potential. As market sentiment continues to shift toward a more positive outlook, traders are eyeing higher price targets and preparing for sustained gains
AB=CD Bullish Pattern on OilAfter the price of WTI oil rose to highs of US$78.42 on 8 October and shaped an ‘alternate’ AB=CD bearish formation at US$77.68 (a 1.618% Fibonacci projection ratio that was bolstered by the 200-day simple moving average at US$77.40 and a 61.8% Fibonacci retracement ratio at US$77.21), the subsequent response has established an equal AB=CD bullish formation at US$69.45. This 100% projection ratio shares space with a 61.8% Fibonacci retracement ratio at US$70.26. For that reason, technical buyers could soon step into this market.
Crude Oil BearishCrude oil technical analysis
Daily resistance 75, support 65
Four-hour resistance 71.8, support 68
Crude oil operation suggestions: From the current market analysis, continue to short near the upper 71.8 mark today, the upper pressure is near 75, the lower support is 69 and 65. The overall support within the day is to maintain the cycle of selling high and buying low in this range, and wait patiently for the key points to enter the market.
SELL:71.8near
BUY: 68near
Technical analysis only provides trading direction!
Oil Prices in Stagnation: A Moment to Await the ReboundSince the recent sharp decline, the movement of oil prices has been notably flat compared to gold, leaving many of us feeling quite exasperated. Is it really true that oil prices won’t rebound after such a drop? Are you, like me, growing increasingly impatient?
I believe we should exercise a bit more patience; today, oil prices should be able to rise above $72. I always remember the saying: “The longer the sideways movement, the greater the potential up or down movement.”
This means that the duration of a sideways consolidation will determine the magnitude of the subsequent rise or fall.
Let’s continue to be patient and anticipate the moment of oil price rebound.
WTI Rebounds but Bearish Outlook PersistsHello,
BLACKBULL:WTI has gained some upward momentum after rebounding off the 1M pivot point (PP), but the overall outlook remains bearish. It's important to take calculated risks. Currently, the 1M and 1D pivot points have acted as support, and if the 1M PP continues to hold, we could see further upside potential.
TradeWithTheTrend3344
67 incoming Daily and weekly TF down move incoming..Stay short..Red dag Friday.. Good luck and safe trade
OIL PRICES IN USA PRIMED FOR BIG MOVE IN NOVEMBERUS Oil Prices at Key Support, Aligning with Trump's 4-Year Resistance – Bullish Indicators for November
US oil prices are currently sitting at a pivotal support level, which also served as the resistance level throughout the entire 4-year Trump administration. Historically, this price zone is significant, and key technical indicators are aligning for a potentially strong move in November.
Notably, oil prices have typically rallied when a Democrat is elected president, with the main exceptions being Clinton's second term in 1996 (which saw a bearish response) and the Bush administration (which fueled a bullish trend). If the status quo remains, with Harris or any Democratic leadership continuing, this setup suggests a strong buy opportunity for a bullish bounce. Might as well pay for the gas hikes right off the jump.
ADX has bottomed, signaling a potential trend reversal.
RSI is pivoting within the Bull Power Zone, showing growing momentum.
If no major political or economic shifts occur, this support level is expected to hold, triggering a bullish move. The only scenario where prices may break below support would be a re-election of Donald Trump.
USOIL: BUY
Oil prices have experienced a significant decline due to recent news, with the market oscillating within established support zones. Today's API data is bullish; however, it has not resulted in a notable price increase, nor has it breached the support levels.
As the EIA data release approaches, the likelihood of a positive impact remains high, suggesting a potential for a substantial upward movement. Our trading outlook leans towards buying, positioning for an anticipated rally in oil prices
Crude drifts lowerOil was drifting lower in early trade this morning, taking front-month WTI back down below $70 per barrel. It has lost 10% since it briefly topped $78 around ten days ago, and while the daily MACD has turned sharply lower as well, this move has only taken it back to ‘neutral’ levels rather than the heavily oversold area from this time last month. The concern that Israel would target Iran’s energy infrastructure in retaliation for the latter’s recent missile attack has been completely priced out. This followed Israeli Prime Minister Netanyahu’s statement that the country would only target Iranian military targets in response. This has led to the resumption of selling pressure as traders react to the overarching dynamic driving energy prices. Supply remains plentiful, while agencies such as OPEC and the US Energy Information Administration (EIA) calculate that the market should expect falling demand growth from both China and the US in the year ahead. Added to this is the ongoing switch to natural gas, as well as increased investment in renewables.
#Oil bullish wave 5 to come
Hi folks, hope you're doing well.
Looking at oil, we can identify a clear 3-wave bullish move. In my view, the price is currently forming a wave C of wave 4.
Following this, we can anticipate the start of wave 5. Historically, in commodities, wave 5 is often the extended wave, which means, if we're correct, this setup offers a favorable risk-to-reward ratio.
According to Elliott Wave's rule of alternation, since wave 2 was sharp and quick, we can expect wave 4 to be more shallow and prolonged in duration.
It seems that wave 4 is developing into a zigzag pattern, and if that's the case, we might see the price dip slightly below the bottom of wave A.
