Riding the Bull: USOIL Pushes Higher Amid Optimistic Market SentWith favorable supply-demand dynamics and geopolitical factors at play, USOIL is seeing a strong bullish bias. Growing global energy demand, OPEC production cuts, and macroeconomic signals are fueling optimism in the oil market. Technical indicators also show strengthening momentum as USOIL breaks key resistance levels, suggesting further upside potential. As market sentiment continues to shift toward a more positive outlook, traders are eyeing higher price targets and preparing for sustained gainsLong04:02by SupaMaxwellforexPublished 1
Oil Prices in Stagnation: A Moment to Await the ReboundSince the recent sharp decline, the movement of oil prices has been notably flat compared to gold, leaving many of us feeling quite exasperated. Is it really true that oil prices won’t rebound after such a drop? Are you, like me, growing increasingly impatient? I believe we should exercise a bit more patience; today, oil prices should be able to rise above $72. I always remember the saying: “The longer the sideways movement, the greater the potential up or down movement.” This means that the duration of a sideways consolidation will determine the magnitude of the subsequent rise or fall. Let’s continue to be patient and anticipate the moment of oil price rebound. Longby Wealth_WavesPublished 1
WTI Rebounds but Bearish Outlook PersistsHello, BLACKBULL:WTI has gained some upward momentum after rebounding off the 1M pivot point (PP), but the overall outlook remains bearish. It's important to take calculated risks. Currently, the 1M and 1D pivot points have acted as support, and if the 1M PP continues to hold, we could see further upside potential. TradeWithTheTrend3344 by TradeWithTheTrend3344Published 1
Crude drifts lowerOil was drifting lower in early trade this morning, taking front-month WTI back down below $70 per barrel. It has lost 10% since it briefly topped $78 around ten days ago, and while the daily MACD has turned sharply lower as well, this move has only taken it back to ‘neutral’ levels rather than the heavily oversold area from this time last month. The concern that Israel would target Iran’s energy infrastructure in retaliation for the latter’s recent missile attack has been completely priced out. This followed Israeli Prime Minister Netanyahu’s statement that the country would only target Iranian military targets in response. This has led to the resumption of selling pressure as traders react to the overarching dynamic driving energy prices. Supply remains plentiful, while agencies such as OPEC and the US Energy Information Administration (EIA) calculate that the market should expect falling demand growth from both China and the US in the year ahead. Added to this is the ongoing switch to natural gas, as well as increased investment in renewables. by TradeNationPublished 0
USOUSD WTIFor USOUSD just an idea and chart on the weekly time frame for support resistance by lee86gPublished 0
USOIL - 0.618 fibonnaci zoneUSOIl trading near 0.618 golden zone on daily time frame Also on 15 min time frame a bullish pattern (W pattern) is formed which gives sign for upside movement. This chart is only for educational purpose. Please do your own study before taking any tradesLongby be_you_akshayPublished 3
Crude oil slumpsYesterday saw a fairly dramatic reversal in crude oil as prices plunged. That sell-off continued this morning with front-month WTI back below $70 per barrel. On Friday it was trading comfortably above $75. While this was some way short of the $78 hit at the beginning of last week, it looked as if crude may be backfilling and consolidating after a sharp bullish run since the beginning of the month. The rally began in early September when oil prices were looking extremely oversold. They subsequently bounced, triggered by an escalation in hostilities between Israel and Hezbollah in Lebanon. Then followed a brief pullback. Then Iran launched close to 200 missiles at Israel, and fears grew that Israel would respond by targeting Iranian energy infrastructure, or even its nuclear facilities. Those fears have subsided, and now trade looks back to normal, with the focus returning to the outlook for global demand growth. OPEC’s latest analysis has downgraded its forecast for Chinese demand for the third consecutive month. This follows on from last week’s update from the US Energy Information Administration (EIA). This said that the market should expect falling demand growth from both China and the US, due to weaker manufacturing growth and industrial production from both countries.by TradeNationPublished 2
12R Oil LongExpecting a move up on Oil here. 12R trade. 40% chance of success.Longby TipsOfPipsPublished 5
12R Oil LongExpecting a move up on Oil here. 12R trade. 40% chance of success.Longby TipsOfPipsPublished 5
Oil Predictions And Strategy | Exciting Markets This WeekOil has stuck within a range, slanting to the down side for a considerable period. This has brought rise to the continuous long(ing) of the same area and consistent gains for many. Here's my levels going forward/insight on making it as risk averse as possible.08:00by WillSebastianPublished 3312
US OILIt appears that US oil has completed its 5th wave, and with the bullish divergence, I anticipate a pullback towards the target indicated on the chart, which will also fill the gap. Please note that this is not financial advice or a trading signal—just sharing my personal analysis and ideas.Longby Omani77Published 3
USOIL - reached at resistance? holds or not??#USOIL... market just reached near to his resistance area that is yesterday high, keep close that because if market hold it then you can expect drop from here. that can be swing high if holds. stay sharp. good luck trade wiselyShortby AdilHussain731333Updated 6
WTI affects the Middle East and storms in the USOil prices were volatile but posted a second straight weekly gain last week as investors weighed potential supply disruptions in the Middle East and the impact of Hurricane Milton on fuel demand in Florida. The price of West Texas Intermediate (WTI) crude oil for November delivery on the New York Mercantile Exchange decreased to 75.56 USD/barrel. Although US President Joe Biden has advised against attacking energy facilities in OPEC's third largest producer, the possibility of prolonging the conflict in the Middle East and there are increasing signs of this spreading will make the market nervous. Unrest in the Middle East has increased price volatility and prompted hedge funds to increase their net long positions. At the same time, a statement from the US Treasury Department said that in response to Iran launching ballistic missiles towards Israel on October 1, the US is expanding sanctions on the oil and chemical industry. Iranian oil. Hurricane Milton swept through Florida and into the Atlantic last Thursday, killing at least 10 people and leaving millions without power, putting pressure on prices. Nearly a quarter of Florida's 7,912 gas stations were without fuel as of last Wednesday morning, as drivers stocked up on gas earlier this past week ahead of the storm. Florida is the third largest gasoline consuming state in the US, but the state has no refineries and therefore must rely on imports. On the daily chart, TVC:USOIL slight correction after recovery and limited by the 0.50% Fibonacci retracement level. Up to now, WTI crude oil still has technical price increasing conditions with the main trend from the price channel, main support from EMA21. The confluence of the lower edge of the price channel and the 0.382% Fibonacci retracement level is the closest current support for WTI crude oil on the daily chart. If WTI crude oil breaks above the 0.50% Fibonacci level, it will have conditions to continue rising with the target level then being around 79.03USD. As long as WTI crude oil remains above the EMA21, it remains technically bullish in the short term, and the highlights are listed below. Support: 73.77 – 72.39USD Resistance: 76.40 – 76.84USDLongby Xayah_tradingPublished 4
Hellena | Oil (4H): Short to support area at 67 (Wave "3").Dear colleagues, I believe that at the moment we have a great opportunity to find an entry into a short position that will bring us many pips. The fact is that the wave “2” of the middle order is completed, which means that the wave “3” of the higher order continues the downward movement in the wave “3” of the middle order. I expect the price to rise a bit more to the 78 level, then I expect the price to drop to the 67 level. It will not be a quick drop, but we will be able to go short several times. Manage your capital correctly and competently! Only enter trades based on reliable patterns!Shortby Hellena_TradePublished 113
CRUDE OIL (WTI) Classic Gap Opening Trade I see a nice example of a gap down opening on WTI Crude Oil. As always, there is a high chance that the gap will be filled. I already see some sign of strength of the buyers: a double bottom pattern on 30 minutes time frame. I think that the price will reach 75.3 level soon. ❤️Please, support my work with like, thank you!❤️ Longby VasilyTraderPublished 1110
oil tradeafter last weeks doji candle we can expect the weekly high to be taken out any pull backs to the 61 fib are a buy its clear price forming a triangle formation we can expect multiple fake outs before the real move looking for sells we have to think we are not interested untill it takes out weekly high we could potentially see another week of a doji candle so we look to sell at the top of the weekly candle or we buy on the pull bkby deanbarrs1Published 2
USOIL 10/14/24 - 10/18/24💡 🔍 5hr time frame: USOIL is currently under the 10/20emas. Price needs time to show conviction above the 10/20emas. Bias: Neutral, waiting on the sidelines till we show conviction.by angelvalentinxPublished 1
USOIL LONGIn USOIL today, the price is likely to rise in the quasimodo zone due to the reaction from the doublemaru zone on the H4 timeframe. Seen in the LTF, the quasimodo area is clearly visible. Pay attention to the price reaction when moving towards the zone. If there is a reaction, Buy can be takenLongby SutrisnoPutroPublished 2
USOIL ShortIn USOIL there has been a reaction in the Daily result of the doublemaru zone in the past. then the zone has also reacted engulfing. When viewed in the lower timeframe, a quasimodo sell pattern is formed and the current price is already running.Shortby SutrisnoPutroPublished 1
#USOIL 4HUSOIL 4H Analysis: Currently, USOIL is forming a rising wedge pattern on the 4-hour chart. This is a bearish reversal pattern, typically indicating that the bullish momentum is weakening. Forecast: -Buy: You can consider buying as long as the price remains within the wedge pattern, riding the upward movement. -Sell: However, if the price breaks down from the lower trendline of the wedge, this would confirm a bearish breakout. A sell position should be considered after this breakdown, as a significant downside move could follow.Longby PIPSFIGHTERPublished 13
USOIL Massive Short! SELL! My dear followers, This is my opinion on the USOIL next move: The asset is approaching an important pivot point 75.44 Bias - Bearish Safe Stop Loss - 77.07 Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 72.67 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK Shortby AnabelSignalsPublished 114
Sub $30 oil in the cardsWe are looking at a recession crash in oil right on schedule. Market all time highs, a oil short cover rally, and then new lows throughout the rest of the year and into most of 2025.Shortby EarthmatrixPublished 1