Buy opportunity on USOIL Toward 71$Hello,
We've identified a huge current opportunity to buy USOIL with a high probability and a favorable risk-reward ratio of over 2 in the 2-hour chart. Our target is $71 within a few days (Swing trade).
Ibrouri
CL-OIL trade ideas
Will Oil see a rally in December and give an EOY push?Oil is in a cool spot right now where bulls have and are continuing to buy the dip around $67/brl. If this continues this can be a local bottom for the winter IMO as crude seasonally has a strong December/EOY.
Seasonality doesn't always have 1:1 correlations but over 30 years it has shown a strong positive correlation to an upward move in Oil and energy.
Oil Market Outlook: Bearish Options FlowA few words about the prospects of oil through the lens of options trading.
The sentiment is leaning more bearish than bullish. We're seeing a surge in vertical spreads and butterflies on puts, targeting the $65-60 range for February-March 2025.
If we look at the charts, the price action resembles a 'settling' at the support level of $65-66.
It’s looking like we might see a support break, potentially a swift one, which could send prices down to a lower range, just like we've seen in the past.
But for now, this is just a theory based on price action and the options flow.
USOIL:Long after the pullback trading strategy
Crude oil yesterday is also strong pull up, the overall bullish thinking and expectations are consistent, coupled with the contract delivery today, crude oil will be likely to break through the previous strong pressure 69.40 this position, crude oil thinking is also low bullish;
Asia-europe session is expected to shock before pulling higher, pay attention to 68.5-68.3 support, in addition to the previous crude oil inventory data is also positive, crude oil may enter a wave of bulls. Upper targets see 69.4-70.6
USOIL Technical Analysis! BUY!
My dear friends,
Please, find my technical outlook for USOIL below:
The instrument tests an important psychological level 66.90
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 69.70
Recommended Stop Loss - 65.24
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
WTI OIL 4H RSI Bullish Divergence sending a strong buy signal.WTI Oil (USOIL) stopped yesterday's rebound on the 4H MA50 (blue trend-line) and is now on a small pull-back. Technically that is the Resistance level it needs to break if it wants to break-out aggressively towards the long-term Resistance Zone.
There are high probabilities of doing so, as the 4H RSI formed Higher Lows, which is a Bullish Divergence against the Lower Lows of the price. In fact, it is the exact same formation as the October 01 Low that rebounded aggressively above the 0.786 Fibonacci retracement level.
As a result, we are bullish on this one, targeting $76.00 (the 0.786 Fib currently).
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USOIL Trend Analysis1. Trend Analysis
Zero Lag Trend Indicator:
On the M5 and M15 timeframes, the Zero Lag Trend Indicator signals a bearish trend, with the price trading below the Zero Lag EMA and recent bearish crossovers.
On higher timeframes like H1 and H4, the trend remains bullish, indicating that the current bearish movement on lower timeframes may be a retracement within the broader uptrend.
Multi-Timeframe Confirmation:
The alignment of bearish signals on lower timeframes and bullish signals on higher timeframes suggests a potential buying opportunity if the price reaches a significant support level and shows signs of reversal.
2. Key Levels Identification
Support and Resistance:
Support Levels:
$68.50: Recent swing low and a psychological support level.
$68.00: A round number and potential strong support.
Resistance Levels:
$70.00: Previous swing high and potential resistance.
$70.50: Another round number and resistance level.
Order Blocks:
A bullish order block is identified around $68.50, indicating potential institutional buying interest at this level.
3. Liquidity Zones and FU Candles
Liquidity Grabs:
Potential liquidity exists below $68.50, where stop-loss orders from retail traders may be clustered.
FU (Fakeout) Candles:
On the M5 timeframe, a bullish FU candle is observed near $68.50, suggesting a possible reversal and trapping of bearish traders.
4. Entry, Stop-Loss (SL), and Take-Profit (TP) Strategy
Entry:
Long Position: Consider entering around $68.50 after confirming support at $68.50 holds and observing bullish reversal patterns (e.g., bullish engulfing candle).
Stop-Loss (SL):
Place the SL below $68.00, at $67.50, to protect against potential false breakouts and account for market volatility.
Take-Profit (TP):
Set the TP at $70.00, near the next significant resistance level, maintaining a 1:3 risk-reward ratio.
5. Example Trade Setup
Scenario:
Current price: $69.05.
Bearish trend on lower timeframes; bullish trend on higher timeframes.
Plan:
Entry: $68.50 (after confirming support at $68.50).
Stop-Loss (SL): $67.50 (below $68.00 support).
Take-Profit (TP): $70.00 (near resistance).
Risk-Reward Ratio:
1:3, where the risk is $1.00 ($68.50 - $67.50), and the reward is $1.50 ($70.00 - $68.50).
6. Additional Considerations
Market News:
Monitor economic indicators and news related to oil, such as OPEC meetings and geopolitical events, as they can impact volatility.
Risk Management:
Risk 1-2% of your trading capital per trade to ensure sustainable trading practices.
Oil prices rebound on geopolitical concerns in Eastern Europe
After a week of decline, oil prices rose sharply due to increased geopolitical risks in Eastern Europe, including the possibility of long-range missile attacks. Meanwhile, the IEA has noted a decline in global oil demand due to China's slowing economic growth. They added that this trend may result in an oversupply of 1 million barrels per day in the global crude oil market next year.
After testing a trend line, USOIL advanced to 69.00. However, the price remains below both EMAs and still maintains bearish momentum. If USOIL breaks below the trend line again, the price could fall further to the support at 64.80. Conversely, if USOIL breaches above EMA21 and the 70.00 threshold, the price could gain upward momentum toward the resistance at 73.30.
USOIL, Daily
Oil prices rose slightly after recent losses, driven by a more positive market tone and a weaker dollar, though concerns over weak Chinese demand and a potential oil surplus in 2024 continued to weigh on the outlook. The market has been volatile due to ongoing tensions in the Middle East and Russia’s intensified strikes on Ukraine while the U.S. is considering easing restrictions on Ukraine’s use of American-made weapons, potentially escalating the conflict further. At the same time, China’s slowing economy is affecting demand, and higher supplies from the U.S. and OPEC+ contribute to expectations of an oversupply next year.
On the technical side, the price is currently trading at a major technical support area which consists of an area of price reaction in late September and late October around the $66.8 price area. The Stochastic oscillator is in the extreme oversold levels hinting that there might be a bullish correction coming up in the near short term while the Bollinger bands are starting to expand showing that volatility might be starting to tick up. These indications might be pointing to a bullish scenario in the upcoming sessions with the first area of possible resistance laying around the $70 area which consists of the psychological resistance of the round number as well as an area of price reaction in mid-late October.
WTI CRUDE OIL Strong rally about to start.WTI Crude Oil made a Double Bottom around 67.00 and rebounded back to test the 1hour MA200.
This is an identical pattern with the October 1st Double Bottom that was formed after a 1hour Death Cross.
The 1hour Golden Cross should be enough to confirm the start of a strong rally.
Buy and target 78.00 (just under Resistance A).
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OIL short idea 1H time frameLooking to sell OIL
Entry : 67.99
Stop : 68.66
Take profit : 66.18
RR : 1:2
SpotCrude.. Against Trend but Strong Support
SpotCrude is being supported on Weekly and Daily time frames.
Break above 4H trend line. This might be the first sign
More better confirmation will be when we break above 4H key resistant zone.
But be cautious since the overall trend is down
WTI Trade idea. Longterm Setup formingI quickly breakdown the trade I caught this morning. continuation of fridays plays
OIL (extremely bearish)watch the 65$ level if broken i think oil will spiral down to 52$ then ultimately to 30$ with 17$ a possibility in case of a recession
USOIL:Today's short trading strategy
Crude oil began to contract delivery, the action of these two days should be relatively large, today's thinking or bearish, weekly line again closed negative, and the center of gravity began to move down, crude oil also fell below the bottom of the hour level, today's rebound continues to empty, do not chase, this position is the bottom of crude oil week, has been volatile for a few weeks;
Today the bearish pressure around 68.00 has been broken and is currently around 67.00, the lower target is seen around 66.00. Please do not continue to short after arrival, wait for the market to confirm before trading. Follow me for updates
Oil Swing Back to $77My next trade on oil is looking to be around 15% Mid term and about 7% for the short term as we see price idling at support levels to swing back to $72
Buy OpportunityEntry: Buy WTI Crude Oil CFDs at $66.88.
Stop Loss: $65.60 (below the recent low and key support).
Take Profit:
First target at $69.35 (close to previous resistance).
Second target at $72.79 (8.83% profit potential).
Timeframe: The move is expected to play out over the next 9-10 days, as indicated by the projection curve on the chart.
Analysis Breakdown:
Support and Resistance Levels:
The price seems to have found a support zone around $66.88.
Resistance levels are marked at $69.35, $71.65, and a higher level at $72.88.
Volume Profile:
Visible volume profile on the left side suggests strong activity in the highlighted zones, indicating areas of high liquidity and potential areas of support/resistance.
Momentum Indicator (Squeeze Momentum):
The lower panel shows a Squeeze Momentum Indicator.
The histogram is currently red, indicating bearish momentum, but there’s a hint of weakening bearish pressure as the bars are shrinking.
Potential Trade Setup:
Long Position: Entry at the support level of $66.88.
Stop Loss: Positioned below the $66.00 level (around $65.60).
Take Profit Levels: Targets are set at $69.35 (first target) and $72.79 (final target), aiming for an 8.83% upside move.
Risk-Reward Ratio:
The risk-reward ratio appears favorable based on the analysis, with a potential reward of around 5.91 points ($5.91 move up).
Tracking Key Reversal Points: Anticipating Shifts in Oil MarketOverview:
Timeframes: The chart shows two timeframes: 1-day (left) and 1-hour (right).
Price Levels: The analysis spans key levels around $78.42, $72.84, and below, identifying important support and resistance zones.
Main Concepts:
Wave Structure Analysis (Elliott Wave):
The chart illustrates wave counts to identify impulsive and corrective wave formations.
The 1-day chart displays a completed or ongoing complex wave structure involving labeled sub-waves (e.g., (i), (ii), (iii), (iv), (v)).
The 1-hour chart follows with detailed sub-waves in a downtrend, marking a potential end of a minor wave 5.
Break of Structure (BOS):
The analysis highlights break-of-structure (BOS) points, signaling trend shifts or confirmation of current momentum.
Order Blocks (OB) and Supply Zones:
The charts label areas of interest like the Bearish OB, which indicates potential resistance levels for short trades.
Liquidity Pools and Equilibrium Levels (EQL): Show possible areas where price may seek liquidity, triggering stops or reversals.
Swing Failure Patterns (SFP):
On the 1-hour chart, an SFP shows a failed attempt to break a previous high, indicating potential reversals at those points.
Step-by-Step Breakdown:
Left Chart (1-Day):
Wave Completion: Possible end of wave (iv) around $78.42.
Correction Analysis: The chart suggests a retracement towards $72.84, marked by liquidity inducements and previous buy-side stops (BSL).
Potential Moves: If a correction deepens, the internal wave count may extend, affecting the broader trend structure.
Right Chart (1-Hour):
Bearish Momentum: Highlights swing failure patterns, with downward trends forming lower highs and lows.
Wave Labeling: The (A)-(C) correction forms a bearish pattern, suggesting possible price reversal around the Bearish OB at $69.35.
Projection: If bearish momentum continues, expect a move towards the dealing range lows around $68.41.
Examples and Analogy:
Think of the swing failure patterns as warning signs—like a car struggling to pass a steep hill. If it fails, it rolls back, suggesting sellers are regaining control, which could lead to further declines.
Key Takeaways:
Primary Resistance: $69.35 (potential short entries).
Support Focus: $67.66 - $66.75 area, as noted on both timeframes.
Continued Monitoring: If price breaks the strong high invalidation point, the short-term bearish outlook could be invalidated.
Donald will pump and WTI will keep falling. Sell at 67,282.These are key targets for OIL short trade. Due to geopolitical situation in US, possible taxes on the Chinese products, and also the technical levels I´m expecting a weakening in the demand for OIL. The targets are key weekly levels, TP your trades partially as always. Don´t let your floating profit to disappear. Final target is at 56 till end of the year. Wish you good luck.
WTI continues to decline, even as Biden reverses policyAccording to CFTC data, the net long position of crude oil speculators decreased by 21,944 lots to 71,587 lots, reflecting that market expectations of rising crude oil prices have cooled.
TVC:USOIL fell during the Asian session on Monday (November 18), trading around $66.90/barrel, a drop equivalent to 2.43% on the day.
Basically, although the geopolitical situation is heating up, its impact on oil prices is limited. The main reason is that global demand is expected to continue to decline, which is an important factor limiting the recovery of oil prices.
EIA inventories also increased last week, which is not favorable for a supply-side recovery in oil prices. According to CFTC data, the net long position of crude oil speculators decreased by 21,944 lots to 71,587 lots, reflecting that market expectations of rising crude oil prices have cooled.
Biden reverses policy on Russia-Ukraine conflict, allowing Ukraine's military to use US weapons to attack Russia's homeland President Joe Biden's administration has allowed Ukraine to use US-made weapons to attack Russia's homeland Russian land.
This is a major reversal in Washington's policy in the Russia-Ukraine conflict. Sources said Ukraine plans to launch its first long-range strike in the coming days, but they did not disclose details due to concerns about operational security. There are still two months until President-elect Trump will take office on January 20.
Ukrainian President Volodymyr Zelensky has for months asked for Ukraine's military to use US weapons to attack military targets deep inside Russia. Biden's policy reversal has created some risks in the market, but it is also not considered good support for oil prices when there is a very high possibility that when Trump takes office, all policies related to the War in Ukraine will be abolished.
On the daily chart, TVC:USOIL is still maintaining the main downtrend sent to readers in previous publications with the current short-term target at about 66.44USD.
The relative strength index (RSI) is pointing down with a steep slope and away from the oversold area, suggesting a broad bearish outlook ahead.
As long as WTI crude oil remains below its 21-day moving average (EMA21), it will still have a bearish near-term trend outlook. And once WTI crude oil is sold below 66.44USD it will have the conditions to fall a bit more with the target then being around 65.28USD.
During the day, the downtrend of WTI crude oil will be noticed again by the following technical levels.
Support: 66.44 – 65.28USD
Resistance: 68.11 – 68.77USD
USOIL CHART ANALYSIS - NOV 18📊 USOIL CHART ANALYSIS
📈 Technical / Naked Price Action
⚖️ Overall Sentiment: Indecision 🍥
🎲 Hello traders!
Let’s take a closer look at TVC:USOIL , which is currently at a critical juncture. The price is sitting within the mid-range of a long-term yearly support zone that spans $68 - $64. At the moment, USOIL is hovering around the $67 mark, reflecting a high level of market indecision.
💡 Key Observations:
🔴 SELL Scenario: A sell opportunity arises if the price breaks below $64, signaling a bearish continuation.
🟢 BUY Scenario: A buy opportunity could emerge if the price closes above $68, potentially leading to a retest of the descending triangle’s resistance trendline near $76.
📌 Trading Tip:
For now, it’s best to exercise patience and wait for the market to decide its next path and confirm its direction.
🧠 Let’s Collaborate!
Share your ideas, thoughts, and charts in the 💬┃community-chat channel. Got questions? Let us know—we’re eager to hear how you think USOIL will move next!
Best Regards,
The NFX Team™ 💚
CRUDE OIL Will Grow! Buy!
Hello,Traders!
CRUDE OIL keeps falling
Down but the price will
Soon hit a horizontal support
Of 65.24$ from where we
Will be expecting a
Local bullish correction
Buy!
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USOIL Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 67.70 zone, USOIL was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 67.70 support and resistance area.
Trade safe, Joe.
