$usoillooks interesting with rsi about to go into uber bull zone and this trying to reclaim the 200 ema
not trading this just having a look keen to see how it plays out
invalidation below red line
USCRUDEOILCFD trade ideas
Chopping in the Oil: What the Charts and Sentiment Are Tell UsA few words about the sentiment in oil.
Graphically, the price is chopping around in a range, and there aren’t any clear indicators on where it might break out.
However, there are some signs: the options sentiment shows a slight positive bias, with decent portfolios of vertical spreads targeting above $75 gaining traction, although it’s still pretty questionable.
The positions of hedgers and other commercials are close to the maximum levels where we’ve seen reversals in oil prices over the last two years.In other words, the COT reports are also signaling that we’re not likely to head down, or we might see a false breakout followed by a reversal.
So, the working hypothesis for now is that oil is close to a local minimum, but the final word will come from the graphical models on the chart. Personally, I’m keeping an eye on an interesting trigger level at $73.47. I’ll be assessing oil’s prospects based on that level.
WTI CRUDE OIL: targeting 95.00 with support by the 1M MA100.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 51.599, MACD = -0.340, ADX = 19.425) as the price hasn't practically moved for 3 straight weeks. Even the 1W RSI remains neutral (RSI = 46.004) as the last 4 candles have closed inside the 1M MA50 - 1M MA100 range. The 1M MA100 is basically supporting the pattern since April 2021. As long as it does, chances are will see a strong rebound to the R1 level, a price action much like what followed the 2013 consolidation that pivoted to Leg (4).
A similar S1 Zone was supporting on the 1M MA100. Consequently, we turn bullish on WTI expecting a R1 test in the coming months (TP = 95.00).
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USOIL - Long SetupMy main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels.
In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level higher.
But to take more statistically more probable trades we should wait for some time of lower timeframe confirmation. For me the best way to confirm higher timeframe context is structure.
We can notice the break of market structure (sign of strength) on key liquidity level with GAP, so there is a higher probability to see price higher at least on opposite level (marked higher).
Your success is determined solely by your ability to consistently follow the same principles.
USOIL/WTI Crude Oil Energies Market Heist Plan on Bearish SideOla! Ola! My Dear Robbers / Money Makers & Losers, 🤑💰
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USOIL On The Rise! BUY!
My dear followers,
I analysed this chart on USOIL and concluded the following:
The market is trading on 68.11 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 69.36
Safe Stop Loss - 67.32
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
UsdoilName: usdoil
•Reason for purchase:
1) The price has retested the bottom more than once
2) The US stockpile needs it and therefore demand will increase
USOIL Trade LogA long position in USOIL on the 4-hour chart is supported by the following factors:
- Discount Zone Entry: Current prices are within a discount zone, indicating a potential buying opportunity.
- Strengthening CVD Uptrend: An increasing Cumulative Volume Delta suggests growing buying pressure.
- Supporting Macro News: Recent geopolitical tensions, such as accusations of ceasefire breaches between Israel and Hezbollah, have led to concerns over potential supply disruptions, contributing to upward pressure on oil prices.
These factors collectively indicate a favorable environment for a long position in USOIL.
Oil prices fall despite positive Chinese manufacturing data
Oil prices dropped for two consecutive days due to a strengthening dollar despite positive manufacturing data from China. The November Caixin manufacturing PMI in China hit 51.5, surpassing the expected 50.5 and marking the highest level since last June. Attention now turns to the OPEC+ meeting on the 5th, where the group will discuss whether to extend crude oil production increases. Originally, OPEC+ planned to raise production by 180,000 barrels per day starting in January, but concerns about oversupply may delay this decision.
After briefly testing the support at 67.60, USOIL rebounded slightly. The price stays within the descending channel, and the gap between both EMAs has widened further, indicating bearish momentum. If USOIL breaks below the channel's lower bound and 67.60, the price may fall further to 64.80. Conversely, if USOIL breaches above both EMAs and the channel’s upper bound, the price could gain upward momentum to 70.00.
WTI CRUDE OIL Buy signal on Channel Down bottom.WTI Crude Oil is trading inside a Channel Down on the 1hour chart.
The price almost hit its bottom and is already on a 4hour rise.
This is technically the new bullish wave and all prior inside the Channel reached the 0.618 Fibonacci.
Buy and target 68.50 (Fib 0.618).
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USOIL Price Predictions Going Forward, Opec Support?Oil has been lacklustre for a considerable period now, sinking back towards lows and key rejection areas seen recently.
Any longs, likely to be support slightly lower and could see support from OPEC.
sell position chancei believe we can scalp this trade in oil lets do it tp1 is strong support area if lose then tp2 will be accessible
CRUDE OIL Long From Support! Buy!
Hello,Traders!
CRUDE OIL is slowly moving
Towards the horizontal support
Level of 66.35$ but its a strong
Key level so after the retest
We will be expecting a local
Bullish rebound from support
Buy!
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Check out other forecasts below too!
Highlights this weekUS job openings, Australian GDP growth rate, US services PMI, Canadian unemployment rate, US job report
Tuesday:
US job openings is expected to be released at 15:00 GMT. The expectations are for an increase in the figure of around 50,000 jobs but this might not have a significant effect on the dollar since the data is for the month of October and also all eyes will be focusing on the job report later this week for a more accurate conclusion on the labor market.
Wednesday:
Australian GDP growth rate at 12:30 AM GMT. The market consensus is for an increase on the figure to reach 0.5% against the previous 0.2% quarter over quarter. If the consensus is confirmed then it could potentially create some short term gains for the Australian dollar against its pairs.
US Services PMI at 15:00 GMT for the month of November. The consensus is for a slight decrease of 0.5 points reaching 55.5. This might be rather bullish news for the Dollar since it would mean that the services sector in the States is still expanding.
Friday:
Canadian unemployment rate at 13:30 GMT. The market is expecting the figure to remain stable at 6.5% for the month of November.
US Job report at 13:30 GMT where the non farm payrolls and unemployment rate are going to be published. The expectations for the NFP is for an increase to reach 183,000 against the previous recording of 12,000. If these expectations are correct, we might see that the dollar could move up in various pairs in the aftermath of the release. On the other hand the unemployment rate is expected to remain static at 4.1%.
USOIL, dailyCrude oil prices rose due to positive factory output data from China and ongoing unrest in the Middle East. The OPEC+ meeting is expected to result in a delay of production cuts for next year, highlighting the challenge of balancing market support and maintaining market share.Traders are expecting OPEC+ to delay a production increase, with oil trading within a narrow range due to geopolitical factors and the outlook in China.The dollar strengthened after US President-elect Donald Trump cautioned BRICS nations against creating an alternative currency, while the Middle East saw a truce between Israel and Hezbollah and Tehran's pledge to aid Syria's government.
On the technical side, the price has been trading in a triangle formation for the last 4 months and is near its completion. The Stochastic is below the neutral level more towards the oversold levels hinting that there might be another bullish rebound in the upcoming sessions and probably a retest of the upper boundary of the triangle. On the other hand the faster 50-day moving average is trading lower than the slower 100-day moving average validating the overall bearish trend in the market while the Bollinger bands have somewhat contracted showing that volatility might be running low in the market for oil.
Crude stuckCrude oil was a touch firmer in early trade this morning, helped along by some barely OK manufacturing data from China. There’s an OPEC+ meeting on Thursday, postponed from yesterday, where the group is expected to extend its production cuts once again, this time from the end of this month. There’s a uneasy ceasefire between Israel and Hezbollah in Lebanon. At the end of last week, front-month WTI closed a touch above $68, just a few dollars below where it ended in 2023. This year, front-month WTI topped $87 per barrel in April before dropping back to $73 in early June. It rallied again, topping $84 just four weeks later. But it went into a steady decline over the next two months, briefly breaking below $65 in September. That has proved to be the year’s low, so far. One month later it was up at $78 – again, briefly. But overall, the pattern has been a succession of lower highs since April, with selling momentum only exhausting itself near the mid-$60s.
Oil focus on EIA data and OPEC+ meetingTVC:USOIL increased slightly during the Asian trading session on Monday (December 2), trading around 68.30 USD/barrel. Market volatility has continued to decrease and we need to wait for new changes in fundamental factors to shape the short-term trend.
This week we will focus on EIA inventory data and the OPEC+ meeting. At the same time, this week will release US non-farm data. If non-farm data continues to strengthen, it will continue to put pressure on the Federal Reserve to cut interest rates, which will be detrimental to rising oil prices.
Last week, as the geopolitical situation eased, pressure on the supply side eased and the market is now expecting that this OPEC+ meeting is expected to be postponed and increased production will support oil prices.
On the geopolitical side, there are no significant new points. Lebanon's official news agency said on Friday that four Israeli tanks had entered Lebanese border villages. The ceasefire, which took effect last Wednesday, has reduced oil's hedging premium and sent oil prices tumbling despite accusations of ceasefire violations between the two sides.
Although there are still many potential risks, the conflict in the Middle East has not disrupted oil supplies and oil supplies are expected to be more abundant in 2025. The International Energy Agency believes that there is a surplus of supply. is expected to exceed 1 million barrels/day, equivalent to more than 1% of global production.
OPEC+ is expected to decide to continue extending production cuts at the upcoming meeting. With stagnant demand and oversupply, OPEC will face an uphill battle if it wants to push up oil prices.
On the daily chart, TVC:USOIL The main long-term trend is still down with the price channel as the main trend, pressure from EMA21 and horizontal resistance levels around the 0.236% Fibonacci retracement point sent to readers in previous publications. .
In the short term, WTI crude oil has enough room to continue falling with a target of around 66.44USD in the short term, more than 65.28USD.
Meanwhile, the Relative Strength Index is also maintaining activity below or around the 50 level, which is considered a bearish signal with the target being the oversold area.
As long as WTI crude oil remains at EMA21, it still has a bearish short-term technical outlook, and the trend from the price channel continues to trend in the long term.
In the current daily chart, WTI crude oil has a downward trend with notable points listed as follows.
Support: 66.44 – 65.28USD
Resistance: 69.51 – 70.54USD
USOIL WEEKLY ANALYSIS Weekly analysis of WTI resistance at 72.500--73.500
Support at 66.500--65.500
t.me/+6YUbfJYeQdVlYWFl
Possible move to target at 67 to 72 this week
WTI: Retest Lows, Bullish Above Key LevelHello,
BLACKBULL:WTI is likely to experience further downside and retest previous lows before any potential upward movement. For long-term bullish confirmation, a strong cross and sustained movement above this level will be necessary. The support test is expected to occur within the range of 67.57–62.72.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
USOIL (WTI)Today's trade setup is informed by a top-down approach, with a focus on the interplay between USD strength and commodity markets, particularly crude oil. During the Asian session, the U.S. Dollar displayed significant strength, which often exerts downward pressure on oil prices due to their inverse correlation. This relationship is rooted in the causality loop between the Dollar Index (DXY), global demand for commodities, and their pricing mechanisms.
A stronger dollar typically makes crude oil more expensive for international buyers, reducing demand and weighing on prices. The magnitude of dollar strength in today's Asian session reinforces the likelihood of subdued demand, aligning with our thesis for shorting oil.
On the technical side, crude oil futures have approached a key resistance level, which coincides with declining momentum on shorter timeframes confirming our bearish outlook. Furthermore, the overall risk sentiment in the market remains fragile, supporting safe-haven flows into the dollar and away from risk assets like crude oil.
Given these factors, a short position in oil aligns with both the fundamental and technical backdrop. Trade risk is carefully managed, with stop-loss placement above the resistance level and targets positioned to capitalize on potential declines toward the next key support area. This trade will be actively monitored for any signs of reversal, particularly in the European and U.S. sessions, as shifts in USD dynamics or geopolitical news could alter the setup.
Crude Oil 4 hour chart with Buy and Sell levelsCrude Oil weekly chart with Buy and Sell levels.
Oil this week closed at support level MACD trading bearish wait for crossover to confirm bearish on the weekly chart.
On the downside 66.00 break confirms bearish movement on the upside 72.5 would confirm that Oil is making a break to the upside .
Considering this I would enter a buy at 68.04 expecting 68.07 and upwards.
On the downside ill look for an entry at 67.48 expecting 67.00 and 66.57 if broken then further downside is very possible
As always trade safe use a stop loss and don't overleverage.
Ill update these charts as the week progresses until then check out my other charts for Gold ,EURUSD and GBPUSD
LONG USOILUSOIL making a bullish divergence and also break their last LH, and print new HH, currently price is retracing at 0.618 level, we can but here and wait for bullish candle,... entry points are mentioned in the chart...
Nov support or 64.71 ? Good aft. here's a simpler chart with just fib
from .01 - 129.42 top we've come back to the .5 grain shed again so watching if it holds - Nov closed at 68.11 could bounce Sun night before any test lower . I've been watching it test the 1597 sma (light blue) at 68.32 -2nd support above Nov . LL lower close prev pivot leaves bear option still . keep your stick on the ice -boosting is free hint hint .
