OIL looks bearish, very when it breaks downOIL has formed a huge descending triangle and is about to take a dive.
I'll consider entering a short trade once it breaks the yellow line.
USOIL trade ideas
WTI- RANGE BOX 65-72 ( Looking for Sell )Dear Traders,
i expect price will be Start Next Downward movement from 72$ to 65$
Daily Trend : DOWN !
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Regards,
Alireza!
Oil Prices Showing Hesitation Amid Geopolitical DevelopmentsOil Prices Showing Hesitation Amid Geopolitical Developments
Oil reached its lowest price on November 17th at 66.60 and its highest price on November 22nd at 71.45. Currently, the price has moved down to near 66.70, following the agreement of a ceasefire between Israel and Lebanon. However, the geopolitical situation remains uncertain, so it is normal for the price not to decline significantly.
The price is showing hesitation to move down further, increasing the chances of another bullish wave.
🔸 Today, oil prices were little changed, trading within a narrow range, as traders awaited the outcome of an OPEC+ meeting later this week.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Will an upcoming supply delay from OPEC+ boost the oil price?Macro theme:
- The US sanctions on 35 entities tied to a top-exporter Middle East country supported oil prices.
- OPEC+ reportedly considers a three-month delay in output hikes, easing fears of oversupply ahead of Thu's decision.
- Meanwhile, according to API data, US crude inventories rose by 1.232 mln barrels last week, following a 5.935 mln-barrel drop the week prior.
Technical theme:
- USOIL is between both EMAs, indicating a consolidating structure. The price is trading within the range of 66.80-71.80, awaiting an apparent breakout.
- If USOIL breaks above 71.80, it may prompt a continuation to retest the subsequent resistance at 77.00.
- On the contrary, closing below 66.80 may prompt a test of the previous swing low at 65.00.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
Bullish bounce?WTI oil (XTI/USD) is falling towards the pivot which is an overlap support and could bounce to the pullback resistance.
Pivot: 69.74
1st Support: 68.18
1st Resistance: 71.65
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USOIL H1 | Bullish Bounce offBased on the H1 chart analysis, we can see that the price is falling to our buy entry at 69.65, which is a pullback support
Our take profit will be at 70.50, a pullback resistance.
The stop loss will be placed at 68.93, which is an overlap support level.
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Unlock Profits: WTI Crude Oil Trading TipsAlexGoldHunter FX:USOIL Technical Analysis and Strategy for CFDs on WTI Crude Oil (1-Hour Timeframe)
Current Price
$69.95 USD (up by $0.08, +0.11%)
Key Price Levels
Resistance Levels:
$70.02 (recent high)
Support Levels:
$68.50 (recent low)
$67.00 (significant support zone)
Indicators
Bollinger Bands:
The price is near the upper Bollinger Band, suggesting potential overbought conditions.
Moving Averages:
The price is above the 50-period (red) and 100-period (green) moving averages but near the 200-period (blue) moving average, indicating mixed sentiment with a slight bullish bias.
Stochastic Oscillator:
%K: 47.74
%D: 39.69
In the neutral zone, indicating no strong momentum.
MACD:
MACD Line: 0.605
Signal Line: 0.329
Histogram: 0.276
Indicating bullish momentum with some weakening.
RSI:
Current RSI: 65.99
Below the overbought threshold of 70, suggesting there is still room for upward movement.
Buy Strategy
Confirmation:
Wait for the price to break above the recent high around $70.02 with strong volume.
Ensure the Stochastic Oscillator is moving upwards from the neutral zone.
Look for the MACD line to remain above the signal line with increasing histogram bars.
Confirm that the RSI is above 70, indicating strong bullish momentum.
Entry Point:
Enter a long position once the price closes above $70.02 with confirmation from the indicators.
Stop Loss:
Place a stop loss below the recent low around $68.50 to manage risk.
Take Profit:
Set a take profit target at the next resistance level around $71.50 or use a trailing stop to lock in profits as the price moves higher.
Sell Strategy
Confirmation:
Wait for the price to break below the recent low around $68.50 with strong volume.
Ensure the Stochastic Oscillator is moving downwards from the neutral zone.
Look for the MACD line to cross below the signal line with decreasing histogram bars.
Confirm that the RSI is below 30, indicating strong bearish momentum.
Entry Point:
Enter a short position once the price closes below $68.50 with confirmation from the indicators.
Stop Loss:
Place a stop loss above the recent high around $70.02 to manage risk.
Take Profit:
Set a take profit target at the next support level around $67.00 or use a trailing stop to lock in profits as the price moves lower.
Summary of Signals
Buy Signal:
Entry: Above $70.02
Take Profit (TP): $71.50 or higher
Stop Loss (SL): Below $68.50
Sell Signal:
Entry: Below $68.50
Take Profit (TP): $67.00 or lower
Stop Loss (SL): Above $70.02
This detailed analysis and strategy should help you make informed trading decisions for CFDs on WTI Crude Oil. If you have any further questions or need additional insights, feel free to comment or join our free signal Chanell below
$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
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, 🤑💰
This is our master plan to Heist USOIL / WTI Crude Oil Energies Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Short entry. Our target is Near the Green Zone that is High risk Dangerous level, market is oversold / Consolidation / Trend Reversal / Trap at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich 💰.
Entry 👇 📉: Can be taken Anywhere, What I suggest you to Place Sell Limit Orders in 15mins Timeframe, Recent / Nearest High Point entry should be in pullback.
Stop Loss 🛑: Recent Swing High using 1H timeframe
Attention for Scalpers : Focus to scalp only on Short side, If you've got a money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money 💰.
Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss 🚫🚏. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
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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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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.
