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US Crude Oil CFD

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USCRUDEOILCFD trade ideas

OIL - shortFollowing our previous forecasted up-move, from now on we will switch to looking for sell setups only. We would normally expect the C wave of the corrective pattern retrace all the way to the 0.618 fib of the downward impulse, as the A wave had already retraced to the 0.382. But that isn't necessarily always the case. As long as the C retracement has broken the top of the A retracement, the pattern formally speaking can be complete. We will not be looking for further buys, therefore, from now on. Even if it does continue to the 0.618, we will skip the eventual buy and focus on the sells. At the same time, because the eventuality of more up exists, we will wait for a proper sell setup before we enter any short position. Updates will follow.
FX:USOILShort
by TradingClear
Oil at Key Support – Bounce or Breakdown?Crude oil is trading around $66.94, showing a bearish correction after failing to hold above $69.05. The chart shows price respecting an ascending channel but currently testing its lower boundary. The recent drop signals weakening bullish momentum, and a confirmed break below the channel could accelerate selling pressure toward lower levels. 📈 Potential Scenarios - Bullish Rebound: If price holds above the channel support (~$66.00–$66.50) and breaks back above $69.05, it may target $71.03 and possibly $72.00. - Bearish Breakdown: A confirmed close below $66.00 can accelerate the downside toward $65.00, with extended targets near $63.50–$62.00. 📊 Key Technical Highlights - Price rejected from the channel top and is now testing lower support. - Key resistance zones: $69.05 (immediate), $71.03 (major). - Key support zones: $66.00 (channel), then $65.00–$63.50 (breakdown targets). - Momentum indicators show weakening buying pressure, favoring cautious trading. 🔑 Key Levels to Watch - Resistance: $69.05 → $71.03 → $72.00 - Support: $66.00 → $65.00 → $63.50 🧭 Trend Outlook - A short-term relief bounce is possible, but failure to reclaim $69.05 keeps sellers in control. - Breaking below the channel would shift the overall outlook to bearish for August. Note Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
ICMARKETS:XTIUSDShort
by SibiSh
Crude Oil’s $70 Surge Still Faces 3-Year Channel ResistanceAlthough news points to a crude oil price surge, technical analysis indicates price cap risks remain within the borders of a 3-year descending channel. Should a clear hold emerge above the $70 barrier, the bullish rebound in price action from the $64.40 zone, in line with the weekly RSI’s rebound off the neutral 50 zone, may extend toward the channel’s upper boundary at $72.40, $74.40, and $77 in more extreme scenarios. A confirmed hold above the $77–78 zone may shift the primary trend away from bearish dominance and pave the way for longer-term bullish forecasts. On the downside, if a price drop results in a clean break below the $64 barrier, downside risks may extend toward the mid-zone of the long-standing channel, with potential support levels at $63.20, $61.80, and $59.70, respectively. Written by Razan Hilal, CMT
FOREXCOM:USOIL
by FOREXcom
1
Oil Prices Form Bearish Head & Shoulders – Key Neckline in FocusWTI crude oil is showing a clear Head and Shoulders (H&S) pattern, which is a strong bearish reversal signal. The left shoulder formed in early July, followed by a higher peak forming the head in mid-July, and finally the right shoulder near the current levels, which is lower than the head. The neckline is positioned around $66.00, acting as a key support level. Currently, the price is trading at $67.34, hovering slightly above this neckline, indicating that the market is at a critical decision point. A confirmed break below the neckline could accelerate bearish momentum, targeting the $62.20 – $62.80 zone based on the pattern’s measured move. However, if the neckline holds, a possible bounce toward $68.50 – $69.00 could occur, but overall bias remains bearish unless the price can break and sustain above $69.00. Key Price Levels: - Resistance: $68.50 – $69.00 - Neckline Support: $66.00 - Bearish Target (if confirmed): $62.20 – $62.80 Note Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
ICMARKETS:XTIUSDShort
by SibiSh
6
USOIL drops on rising supply and demand concernsUSOIL drops on rising supply and demand concerns Oil prices fell Tuesday as OPEC+ planned a 547,000 bpd output increase for September, overshadowing potential Russian oil supply constraints from U.S. policies. Brent and WTI crude dropped to their lowest in a week, marking a fourth consecutive decline. OPEC+’s reversal of 2.5 million bpd cuts, combined with weak demand outlooks due to U.S. recession risks and China’s lack of new stimulus, pressured prices. Trump’s threatened 100% tariffs on Russian crude buyers like India, which imports 1.75 million bpd, heightened trade tensions but failed to lift oil prices. Analysts warn U.S. tariffs could further weaken global growth and fuel demand. USOIL shows some in-moment strength on RSI on 1-h chart, the price may rebound towards sma200 at 6,700.00. However, in long-term perspective, low oil price is expected. Eventually, the price may decline towards level of 6,000.00.
FOREXCOM:USOILShort
by ProfessorSingapore
USOIL WTIWest Texas Intermediate (WTI) oil is a major benchmark for crude oil pricing, known for its high quality—being both light and sweet due to its low sulfur content and low density. WTI is sourced primarily from inland Texas and is the underlying commodity for oil futures traded on the New York Mercantile Exchange (NYMEX). The main physical delivery point is Cushing, Oklahoma, a critical U.S. oil storage and trading hub. Current Price (as of August 1, 2025) WTI crude oil is trading around $69.15–$69.36 per barrel. Recently, WTI prices have seen volatility due to global economic factors, including U.S. tariffs, OPEC+ production, and shifts in oil demand. Despite a small decline on the day, oil prices have posted their strongest weekly performance since June, rising over 6% for the week. Market and Outlook Recent price movement reflects concerns about global trade tensions, new tariffs, and their impact on economic growth and energy demand. At the same time, supply risks remain due to geopolitical factors such as potential sanctions on Russian oil and U.S.-China trade developments. Analyst forecasts for the remainder of 2025 suggest continued volatility, with WTI potentially ranging between $56 and $73 per barrel, influenced by demand, OPEC+ decisions, and geopolitical events. Quick Facts Table Feature Detail Type Light, sweet crude Benchmark NYMEX (U.S.), major global reference Main Delivery Point Cushing, Oklahoma Latest Price (Aug 1, 2025) $69.15–$69.36 per barrel Typical Drivers U.S. tariffs, OPEC+ decisions, trade policy, supply risks, global demand WTI oil plays a central role in global energy markets, serving as a benchmark for North American and international oil pricing. Its price reflects both supply fundamentals and broader macroeconomic and geopolitical developments. #OIL #WTI
FX:USOIL
by Shavyfxhub
It looks like this chart for WTI Crude Oil is showing a bearish • Previous Move: There’s a strong downward leg before the flag formation, indicating bearish momentum. • Flag Pattern: Price consolidates in an upward-sloping channel after the drop. • Breakout: The chart suggests a bearish breakout below the channel, marked with a red arrow at around $67.25. • Target Projection: The measured move target appears to be around the $53–54 range, based on the flagpole height.
TVC:USOIL
by AlgoWave_Tech
USOIL Bulls Seize a New OpportunityThe EIA crude oil inventory data is scheduled for release today and is expected to have a significant impact on USOIL prices. Based on the previously released API report, there’s a high probability that the EIA data will also be bullish. From a technical perspective, USOIL is currently showing signs of a potential rebound. Therefore, for traders participating in USOIL today, it may be more favorable to adopt a bullish bias. If managed well around key support levels and timing, the setup could offer attractive profit opportunities.
TVC:USOILLong
by China_MsWang
Could Oil (WTI) Be Breaking Out of its Range?Oil (WTI) has moved back to the forefront of traders thinking this week after OPEC+’s weekend decision to raise September production by circa 550k barrels per day. They also put traders on notice that all options remain open regarding further production increases to replace another output layer, amounting to 1.66 million barrels per day that has been offline since 2023. A decision on what comes next is due to take place at a meeting scheduled for September 7th. Perhaps unsurprisingly, this potential for extra production (supply) being unleashed into the market later in the year has led to some downside pressure for Oil this week. This is because it comes at a time of uncertainty surrounding Oil demand due to possible weaknesses in the global economy, created by President Trump’s tariff policies. Oil (WTI) prices have fallen 4.8% from opening levels on Monday to post a new 1 month low at 64.20 yesterday, a level that it currently holding (more on this in technical update below). Looking forward, one of the challenges traders are facing for where Oil moves next is President Trump’s August 8th deadline for Russia to end the war with Ukraine or face fresh sanctions on its energy exports. President Trump has also suggested he would increase tariffs on countries buying Oil from Russia, including China, although right now India is his initial focal point in this regard and yesterday, he doubled tariffs on Indian goods (25% to 50%) due to the country’s purchases of Russian Oil. These new tariffs are due to start in 3 weeks’ time. With so much uncertainty surrounding Oil prices, including reports of a possible meeting between President Trump and President Putin being scheduled at some stage next week, it could be useful to be prepared for a potential increase in Oil (WTI) price volatility. Technical Update: New Correction Lows Posted Having seen the sharp sell-off in Oil between June 23rd and 24th 2025, a period of more balanced activity developed, as a reaction to over-extended downside conditions in price. As the chart above shows, this resulted in a phase of sideways price activity between support marked by the 65.21 June 24th low, up to 71.34, which is equal to the July 30th failure high. However, price declines on Wednesday this week, have produced closes below 65.21, in the process of posting a new correction low at 64.20. While communications between the US and Russia regarding the war in Ukraine are on-going, this type of break lower in the Oil price is no guarantee of future declines, so it could be helpful to assess what could be the potential support and resistance levels to focus on, just in case the outcome of these events lead to an increase in Oil price volatility. Possible Next Support Levels: As we have said above, the August 6th price weakness has seen a new correction low posted at 64.20, and this may now be viewed as the first support focus. Closes below 64.20 might then lead to a more extended decline in price. Such moves would indicate the potential of further price weakness, with the next support possibly marked by the May 30th session low at 60.17, perhaps further towards 55.64 (May 5th low), if this level in turn gives way. Potential Resistance Levels: On the topside, within a period of price weakness, it can be the declining Bollinger mid-average that reflects the first possible resistance, and for Oil this currently stands at 67.44. Closing breaks above 67.44, if seen, could prompt further attempts to develop price strength to test higher resistance levels. The first possible level would appear to be marked by 71.34, which is the July 30th session high. If this level was broken on a closing basis, it might then lead to tests of 73.29, which is equal to the 61.8% Fibonacci retracement of the June 23rd to June 24th sell-off. The material provided here has not been prepared accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.
PEPPERSTONE:SPOTCRUDE
by Pepperstone