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US Crude Oil CFD

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USCRUDEOILCFD trade ideas

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%.
TVC:USOIL
by Exness_Official
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.
TVC:USOIL
by Exness_Official
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.
TRADENATION:WTI
by TradeNation
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
TVC:USOILShort
by Xayah_trading
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.
TVC:USOILShort
by Beclinks_Capital
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
TVC:USOIL
by F0rexBorex
1
Oil: Time to Short? WTI Set to Plunge Over 10%Hey Realistic Traders, Is Oil About to Crash? Let’s Dive In.... What's the cause of sudden drop in oil prices? U.S. President Donald Trump has pledged strong support for the oil and gas industry, aiming to streamline permits, boost domestic production, and expand drilling on federal lands. He has also criticized renewable energy subsidies and pushed for increased natural gas exports. Aligned with Trump’s stance, the U.S. Energy Information Administration (EIA) has raised its 2023 oil production forecast to 13.23 million barrels per day, surpassing last year’s record of 12.93 million. Global output is also expected to increase, while weaker oil demand from China, driven by slowing economic growth, adds further downward pressure. These policies and projections support the assumption of lower oil prices ahead How much further could they decline?, Let's analyze it using technical analysis! On the daily timeframe, TVC:USOIL is in a bearish continuation phase, potentially entering wave 3 of the trend. It has also broken out of a head-and-shoulders pattern that developed over the past 60+ days, signaling the end of a consolidation phase. This breakout, paired with a bearish marubozu candlestick, strengthens the case for a continued downtrend. Adding to this, the MACD indicator has confirmed a bearish crossover, providing further confirmation of downward momentum. With these signals aligned, we project a potential drop toward the first target of $60.51, and possibly even further to the secondary target of $57.80 This outlook remains valid as long as the price holds above the stop-loss level at $73. Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Oil.
TVC:USOILShort
by financialfreedomgoals101
USOIL Is Going Up! Buy! Here is our detailed technical review for USOIL. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 68.12. Considering the today's price action, probabilities will be high to see a movement to 71.74. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILLong
by SignalProvider
3
Bearish drop?WTI oil (XTI/USD) has reacted off the pivot and could potentially drop to the pullback support. Pivot: 69.74 1st Support: 67.19 1st Resistance: 71.20 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:XTIUSDShort
by ICmarkets