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WTI Crude Oil Wave Analysis – 6 February 2025 - WTI Crude oil broke support zone - Likely to fall to support level 68.00 WTI Crude oil recently broke the support zone between the support level 72.60 (which has been reversing the price from the start of January) and the 50% Fibonacci correction of the previous upward impulse from December. The breakout of this support zone accelerated the active ABC correction ii from the middle of January. WTI Crude oil can be expected to fall to the next support level 68.00 (former minor support from December
FX_IDC:USDWTIShort
by FxProGlobal
USOIL Breaks Key Support: Targeting 70.50TVC:USOIL has broken a key support zone and retested it, confirming strong bearish momentum with clear rejection candles. The previous support has now flipped to resistance, further reinforcing the likelihood of continued downside movement. With this rejection confirmed, I anticipate a move downward toward the 70.50 level, aligning with the prevailing bearish trend. This setup suggests a high probability of bearish continuation in the near term. If you have anything to add or a different perspective, I’d love to hear from you in the comments!
TVC:USOILShort
by DanieIM
1
Buy Opportunity📈 WTI Crude Oil (4H) Long Trade Setup 🔹 Entry: 71.36 🔹 Target: 73.32 (+2.75%) 🔹 Stop Loss: 70.63 (-1.04%) 🔹 Risk/Reward Ratio: 2.59 🔹 EMA Levels: 756 EMA: 72.92 252 EMA: 73.05 📊 Analysis: Price is testing a support level near 71.36. High volume node from the volume profile suggests strong interest at this level. Potential bounce towards the 72.26 resistance and beyond. 📅 Expected Timeline: ~5 days 🔔 Confirmation needed: Bullish candlestick formation and increased buying volume.
TVC:USOILLong
by GODOCM
2
WTI OIL 4H RSI Bullish Divergence hinting to trend reversal.WTI Oil (USOIL) has been trading within a Channel Down pattern since the January 15 High. Since yesterday it appears for the first time to have withdrawn from making Lower Lows. In fact, the 4H RSI has been on Higher Lows since January 27, which is a technical Bullish Divergence. This hints to a potential trend reversal to bullish and the pattern that we can identify emerging is a Channel Up. This current potential bottoming pattern, resembles the January 08 Low which rallied above its 2.5 Fibonacci extension. As a result, we can target the Channel's top (Higher Highs trend-line) at 76.50. ------------------------------------------------------------------------------- ** 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
USOIL - ANALYSIS👀 Observation: Hello, everyone! I hope you're all doing well. Let me share my personal view on US Oil (WTI) with you. Based on the chart, I expect US Oil to move downward toward the 69.39 level. After reaching this price, I anticipate a bullish movement that could drive the price up to 83.50. 📉 Expectation: Bearish Scenario: A drop to 69.39. Bullish Scenario: A rise to 83.50 after holding the 69.39 level. 💡 Key Levels to Watch: Resistance: 83.50 Support: 69.39 💬 What’s your outlook on US Oil this week? Let me know your thoughts in the comments! Trade safe
TVC:USOILLong
by PouyanTradeFX
USOIL Is Going Up! Buy! Please, check our technical outlook for USOIL. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 72.211. Taking into consideration the structure & trend analysis, I believe that the market will reach 74.793 level soon. 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. Like and subscribe and comment my ideas if you enjoy them!
PEPPERSTONE:SPOTCRUDELong
by SignalProvider
1
WTI Oil H1 | Pullback resistance at 38.2% Fibonacci retracementWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 71.75 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 72.30 which is a level that sits above the 50.0% Fibonacci retracement and an overlap resistance. Take profit is at 70.64 which is a swing-low support. 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. 63% 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. 63% 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:USOILShort
by FXCM
WTIWTI Crude Oil (West Texas Intermediate) Overview WTI Crude Oil is a benchmark for U.S. oil prices and is one of the most actively traded commodities worldwide. It plays a critical role in the global economy, and its price fluctuations are closely tied to supply-demand dynamics, geopolitical tensions, and macroeconomic factors. 1. Key Factors Affecting WTI Crude Prices: • Supply and Demand: OPEC+ production decisions, U.S. shale output, and global demand shifts significantly impact prices. • Geopolitical Tensions: Conflicts in oil-rich regions (like the Middle East) often cause price spikes due to supply concerns. • U.S. Dollar Strength: Since oil is priced in USD, a stronger dollar typically pressures oil prices downward. • Inventory Reports: • EIA Crude Oil Inventories (Wednesdays): Tracks U.S. oil stockpiles, influencing short-term price moves. • API Reports (Tuesdays): Offers a preview of official EIA data. • Global Economic Data: Growth indicators from major economies (like China and the U.S.) can influence demand expectations. 2. Best Times to Trade WTI Crude: • New York Session (8:00 AM - 2:30 PM EST): WTI futures trade on the NYMEX, making this period highly liquid. • EIA Inventory Release (Wednesdays at 10:30 AM EST): Often leads to sharp, short-term price movements. • OPEC+ Meetings & Announcements: Monitor these events closely for sudden price shifts based on production cuts or increases. 3. Popular Trading Strategies for WTI Crude: • Breakout Trading: Trade significant support/resistance levels, especially around inventory data or geopolitical news. • Trend Following: Use moving averages (e.g., 50-day and 200-day) to identify prevailing trends. • Range Trading: In low-volatility markets, capitalize on predictable price ranges between support and resistance. • News-Based Trading: React quickly to supply disruptions, OPEC decisions, or major geopolitical headlines. 4. Key Technical Indicators for WTI Crude: • Moving Averages (MA): Identify trend direction and dynamic support/resistance levels. • Relative Strength Index (RSI): Detect overbought (>70) or oversold (<30) conditions for potential reversals. • Bollinger Bands: Measure volatility and identify breakout opportunities. • Fibonacci Retracement: Use to pinpoint potential pullback zones in trending markets. 5. Risk Management for Crude Oil Trading: • Volatility Awareness: Crude oil is highly volatile—set stop-losses to protect your capital. • Position Sizing: Limit risk per trade to 1-2% of your account to manage potential losses. • Leverage Caution: Due to oil’s volatility, use leverage wisely to avoid large swings in account balance. • Stay Updated on Global Events: Oil is sensitive to geopolitical developments, so continuous monitoring is crucial.
THINKMARKETS:WTILong
by HavalMamar
Could the price rebound from here?WTI Oil (XTI/USD) is falling towards the pivot and could bounce to the 1st resistance. Pivot: 71.52 1st Support: 69.32 1st Resistance: 73.87 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XTIUSDLong
by ICmarkets
WTI CRUDE OIL: Rebound to 75.50 very probable.WTI Crude Oil is bearish on its 1D technical outlook (RSI = 40.837, MACD = 0.030, ADX = 37.618) which is natural as it's trading inside a Channel Down. The pattern formed a 4H Death Cross yesterday and even though it's technically bearish, the last time it was formed (October 24th 2024), it marked a bottom 4 days later. The bottom was formed on a HL trendline and if it gets repeated, we should see a HL rebound soon. As with November's rebound, we will be targeting the 0.5 Fibonacci level (TP = 75.50). ## 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
Crude oil remains on a bearish pathOil prices have fallen noticeably since Trump’s last minute deal to delay tariffs. Yesterday’s rebound on Trump's "maximum pressure" plan for Iran has proven to be short-lived. The negative effect of a US-China trade war on demand, as well as rising global supplies, is what is holding back prices. Even if Trump hadn’t delayed tariffs on Mexico and Canada, when considering both supply and demand factors, the overall impact on crude oil prices may well have been limited anyway. In any event, oil prices extended their losses after the OPEC+ agreed to stick to its policy and raise output gradually from April. Prices have fallen further today on the back of the latest inventories report from the US. A big 8.7 million barrel build was reported, which surprised the market given only a 2.4m build was expected. Against a backdrop of rising OPEC+ supply and the potential for increased non-OPEC supply growth, mainly in the US, the crude oil forecast remains modestly bearish. From a technical perspective, crude oil remains in a modest downtrend, with WTI consistently forming lower highs since September 2023. A brief breakout above this trend in January met strong resistance just below $80, pushing prices back under the trend line by month-end. With the bearish bias reaffirmed and WTI slipping below the 200-day moving average again, downside risks remain dominant. In terms of support, the area between $70.00 to $70.70 marks a key battle ground. This is where the price of oil last staged a rally from at the back end of last year. If we see a bounce here, I will then look for that bounce to fade as prices come up to test some key resistance levels… Key resistance levels to watch include the recently broken support at $72.50, the 200-day average at $74.30 and the psychologically significant $75.00 mark. The bearish trend line hovers around $76.00. By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:USOILShort
by FOREXcom