OIL SIDEWAYI'm not a market maker so I won't know exactly how the market will behave but I will contribute my opinion on the issues that concern you.
CL-OIL trade ideas
Oil long short termShort move on oil making HH AND HL structure still in tact looking to enter at the 61 fib up to the first fib extention short term trendline brocken but structure still in tact buy opportunity
Could the price reverse from here?WTI oil (XTI/USD) is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 38.2% Fibonacci support.
Pivot: 72.44
1st Support: 70.26
1st Resistance: 75.15
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WTI Wave Analysis 4 November 2024
- WTI reversed from long-term support level 66.75
- Likely to rise to resistance level 75.00
WTI crude oil recently reversed up from the long-term support level 66.75 (which has been reversing the price from the end of 2021), standing near the lower weekly Bollinger Band.
The upward reversal from the support level 66.75 continues the weekly upward impulse wave (3), which also started from the same support level in September.
Given the strength of the support level 66.75, WTI crude oil can be expected to rise to the next resistance level 75.00 (former strong resistance from October).
OIL at this level to $72MODs have suggested that I provide more detail about the picks I make.
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
Bonus if a TTM Squeeze in in play.
I hold until target is reached or end of year, when I can book a loss.
So...
Here's why I'm picking this symbol to do the thing.
Price near bottom of channels (period 100 52 39 & 26)
Stochastic Momentum Index (SMI) at oversold level
VBSM is negative
Price at near Fibonacci level
Will enter small position at $67, again at $66ish and all in at $65
Target is $72 or channel top
Stop loss is $64
Crude turns upCrude prices shot higher overnight following news that OPEC+ has delayed an expected production increase. Both Brent and WTI were up around 3% on the news, even though the announced delay is only for a month. This has taken front-move crude back up to an area of resistance around $71.50-72.00. If it can push above this region convincingly, and then hold it on any pullback, then this starts to improve the immediate outlook as far as the bulls are concerned. The daily MACD has started to turn up a touch, and while it remains in negative territory, this suggests an uptick in upside momentum. There has also been some relief that Iran did not take the opportunity over the weekend to launch an attack on Israel in retaliation for the Israeli attack the week before. Prices had jumped on Thursday evening after Israeli intelligence reported that Iran was planning to attack Isreal from its bases within Iraq.
USOIL BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
USOIL downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 71.19 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the USOIL pair.
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USOIL Short Plan For Coming DaysMonthly Candle Close below Previous Candle and Sweep Previous Candle High, So I am Looking Bearish Trend for USOIL, Here is my Short Plan, If You Following Then Follow with Risk Management.
USOIL View!!** Indeed, S&P 500 index is struggling to rekindle its spirit
** Benchmark U.S. 10-year Treasury yield
US10Y
climbing into the Cloud, and on track to rise for an eighth straight week
** Nearly every sector startled: Technology most timid, while just Consumer Discretionary and Communication Services show gri
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Mid mth barn Howdy - expand to get more precise levels - long term Fib demand below to return to 70.42 or drop to test 64.71 /.5 . Long term daily support at 68.32 / 1597 daily atm . watching if it plays under 69 . Should be an exciting week . keep your stick on the ice . Boosts appreciated - thx .
USOil - LongUSOil has given a breakout and reversed the trend, there is bullish divergence too adding confluence. Therefore, going long on USOil.
Oil spikes on escalation fearsCrude oil continues to push up off the lows hit on Tuesday when front-month WTI broke below $67 per barrel for the first time since the beginning of October. Since then, oil has managed to build some upside momentum, although it’s far too early to tell if there’s a definitive change in direction. Nevertheless, things are looking better for the bulls, in some respects. The daily MACD has begun to turn higher, although it still remains in negative territory. Yesterday evening, prices suddenly surged higher in a move which took front-month WTI from $69 to $70.50 in less than an hour. The jump came after Israeli intelligence reported that Iran was planning to attack Isreal from its bases within Iraq. This should keep markets off balance as the weekend approaches. Traders will be on alert over the weekend. And beyond, in the absence of an attack. But it also means that yesterday’s rally is likely to unwind completely should any attack prove ineffectual. Despite this, it is potentially another step up in the escalation of hostilities which is starting to normalise direct military contact between Israel and Iran, rather than with Iran’s proxies.
Trade Oil Like THIS: Price Action Training Live.Price data on oil markets can be very 'readable'.
Preferred prices become very visible and lead to higher levels of probability and of course profitability.
WTIIf the analysis aligns with the market's actual direction, and the currency pair moves in the anticipated direction (up for a buy trade or down for a sell trade), the trade will likely yield a profit. The magnitude of the profit will depend on the size of the price movement, position size, and leverage used.
USOILUSOIL price is near the resistance zone 71.48-71.92. If the price cannot break through the 71.92 level, it is expected that in the short term, there is a chance that the price will drop. Consider selling in the red zone.
🔥Trading futures, forex, CFDs and stocks carries a risk of loss.
Please consider carefully whether such trading is suitable for you.
>>GooD Luck 😊
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Hellena | Oil (4H): Short to support area at 67 (Wave "3").Dear colleagues, I believe that at the moment we have a great opportunity to find an entry into a short position that will bring us many pips.
The fact is that the wave “2” of the middle order is completed, which means that the wave “3” of the higher order continues the downward movement in the wave “3” of the middle order.
I expect the price to rise a bit more to the 78 level, then I expect the price to drop to the 67 level. It will not be a quick drop, but we will be able to go short several times.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
USOIL Will Move Lower! Short!
Here is our detailed technical review for USOIL.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 69.00.
Considering the today's price action, probabilities will be high to see a movement to 65.47.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Oil - Crude(WTI) | Chart & Forecast SummaryKey Indicators on Trade Set Up in General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Active Sessions on Relevant Range & Elemented Probabilities;
* Asian(Ranging) - London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management on Demand;
Overall Consensus | Neutral
Crude oil is displaying serious weaknessCrude oil is trapped in a descending triangle after a blow off top. might take some time to play out but target for crude oil based on the triangle is 42-40 crude oil.
13-11 Oil13-11 Oil This commodity has a weakness, namely the economic growth in China. Despite the fact that Opec is reducing production, the world economy is experiencing a slowdown. We have placed a first sell at 67,718.
USOIL YEARLY OUTLOOK Will the US post-election continue to impair the oil price?
The election of Donald Trump has changed the dynamics of the market, causing oil prices to drop, with more negative pressure anticipated.
Global purchasers now pay more for oil due to a rising US dollar, which exacerbates concerns over oversupply.
Since recent economic measures have not yet produced immediate stimulus, China's demand outlook remains poor.
USOIL formed a weekly and daily Head-and-Shoulder pattern, signaling a continuation of bearish pressures.
If USOIL breaks below 68 - 62 necklines(blue and yellow bar), the price may continue its bearish movement to the nearby major support of 43 - 33
On the contrary, if USOIL remains above 68.00, the price may trade within the 68.00-84 range until an apparent breakout occurs.
