TP FILLED ON USOIL TRADEYesterday I posted to sell USOIL, and I didn't post about where to close since we didn't close at the target, instead we closed a bit higher after that the market swept a LQ at 77.399.
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USOIL trade ideas
WTIUSD - BearishWTIUSD has formed a bearish divergence and wising wedge pattern. Place sell stop below last low.
Will US sanctions on the Russian oil industry continue to drive
Oil prices surged to their highest point in five months following the US announcement of its intention to impose stricter sanctions on Russia's oil industry. Countries like China and India, previously reliant on Russian crude oil imports, are actively pursuing new sources of oil supply in the Middle East and Africa. Furthermore, the substantial surge in demand for heating oil, driven by the cold spell sweeping across the US and Europe, is likely to exert consistent upward pressure on oil prices.
USOIL sustains an uptrend and continues to test 77.00. Both EMAs are widening the gap and showing strong bullish momentum. If USOIL breaches above the current high of 77.80, the price could gain upward momentum toward 79.80. Conversely, if USOIL breaks below its support at 74.30 and EMA21, the price may fall further to its following support at 72.00.
SELL WTI usoil hello
Although the liquidity level and the volume case are in the oversold area and the price is stuck in the place of traders' greed.
I see the price going down to 76.66
Meanwhile, the price must move to provide liquidity for the trading gap
WHY I ANTICIPATE USOIL TO RETEST $75 LEVELUSOIL would probably retest $75 level again according to my analysis.
SELL USOILGood morning traders,
I'm sharing with you my trade for today on OIL, you acn sell with the same TP and SL as mine.
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WTI Crude Oil Probes Trend Line Resistance at 5-Month HighsChart Analysis:
WTI Crude Oil is approaching a pivotal juncture as it tests the long-term descending trendline resistance, while short-term momentum remains firmly bullish.
1️⃣ Downtrend Resistance (Red Line):
Prices are testing the multi-month descending trendline resistance near $78.
A breakout above this level could signal a shift in the broader bearish structure.
2️⃣ Moving Averages:
50-day SMA (blue): Rising steadily at $70.51, providing dynamic support for the recent uptrend.
200-day SMA (red): Flattening around $75.06, aligning with the key breakout zone.
3️⃣ Momentum Indicators:
RSI: At 72.05, indicating overbought conditions, which could precede a short-term pullback.
MACD: Bullish momentum is intact, with the MACD line above the signal line and accelerating in positive territory.
What to Watch:
A sustained break above the descending trendline and the 200-day SMA could pave the way for a test of $82-$85 resistance levels.
Overbought RSI warrants caution; traders should monitor for bearish divergences or signs of exhaustion.
Failure to break above resistance could see prices retrace toward the 50-day SMA or $74 support.
WTI Crude is at a critical crossroads, where a breakout could signal a trend reversal, while failure to sustain above resistance might reinforce the longer-term bearish bias.
-MW
USOIL - high placed? what's next??#USOIL.. well guys market placed a day high 79.30
keep close guys because market placed a reasonable high so far and if market hold it in that case you can see a drop from here.
don't be lazy here.
good luck
trade wisely
Crude oil - consolidation?Crude oil has pulled back a touch this morning with front-month WTI trading around $77. It could be that the market is ready to consolidate after a significant bull run, which began just before Christmas. WTI is up 12% since 20th December, and 15% from its last significant low point, hit earlier that month. A bounce in crude prices has been overdue for a while now, given the downtrend which has been playing out ever since prices peaked in early 2022, soon after Russia’s invasion of Ukraine. Since then, front-month WTI has held above $65 per barrel on a daily closing basis. So, while this latest rally may see crude break out of its downtrend, it remains within sight of that multi-year low. Last year, crude prices came under constant selling pressure as the outlook for global demand growth was repeatedly revised down. China’s economic slump following its property bust was the main driver of these revisions. It remains to be seen if promises of monetary and fiscal support from Chinese authorities will prove substantial enough to improve this dynamic. Currently, crude is getting a boost from the cold weather across Europe and parts of the US, as well as from fresh US sanctions on Russian oil sales.
Conflunce of AB=CD and GANN SQUAREThe AB=CD is completing soon provided the Gann minor resistance does not hold, Buy entry at C was triggered by increase in volume and upward momentum. looking for signs of weakness at the fib extension 1.618 or before that to go short. Gann square is very much subjective but the market was respecting the major zones and thats all that matters to me.
Always trade what you see and practise good risk management.
Navigating the Oil Market volatile prices Crude oil prices have been on a roller coaster ride in recent times, influenced by a multitude of factors, including geopolitical tensions, economic indicators, and OPEC+ production decisions. Let's break down the key elements affecting the current oil market:
The Russia-Ukraine War and Sanctions
The ongoing conflict between Russia and Ukraine has been a significant driver of oil price volatility. Russia is a major oil exporter, and the Western sanctions imposed on the country have disrupted global supply chains. This has led to supply concerns and consequently, higher oil prices.
OPEC+ Production Cuts
The Organization of the Petroleum Exporting Countries
(OPEC) and its allies (OPEC+) have been actively managing oil production levels to stabilize
the market. Their decision to cut production has had a direct impact on increasing oil prices.
This move aims to balance supply and demand, ensuring oil prices remain at profitable levels for member countries.
US Oil Production and Inventory Levels
The United States is a major oil producer, and its production levels and inventory change
s influence global oil prices. While US production has increased, it hasn't been enough
to offset the supply disruptions caused by the Russia-Ukraine conflict and OPEC+ production cuts.
Lower US oil inventories have also contributed to the upward pressure on prices.
Oil Algorithmic Traders Loosen Grip on Market After Back to Back Annual Losses Gusgraph.com
Global Economic Recovery and Demand
The global economic recovery from the COVID-19 pandemic has led to increased demand for oil. As economies reopen and travel picks up, the demand for fuel has surged, putting upward pressure on oil prices.
Other Factors
In addition to the above factors, other elements such as geopolitical tensions in the Middle East, currency fluctuations, and speculative trading can also impact oil prices.
In conclusion, the current oil price surge is a result of a complex interplay between geopolitical events, supply and demand dynamics, and economic indicators. The Russia-Ukraine conflict, OPEC+ production cuts, and robust global economic recovery are the primary drivers pushing oil prices higher.
Navigating the Oil Market: A Day Trader's Guide
The oil market is a dynamic and complex arena, presenting both significant opportunities and formidable challenges for day traders. Understanding the key drivers of oil price fluctuations is crucial for developing effective trading strategies.
Key Factors Influencing Oil Prices:
Geopolitical Events:
The ongoing conflict in Ukraine and the resulting sanctions on Russia have significantly disrupted global oil supply chains.
Geopolitical instability in the Middle East, a major oil-producing region, can also trigger price volatility.
OPEC+ Production Decisions:
The decisions of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) regarding production cuts or increases have a direct and significant impact on oil prices.
Global Economic Growth:
Strong economic growth translates to increased demand for energy, driving up oil prices. Conversely, economic slowdowns can lead to lower demand and lower prices.
US Oil Production and Inventories:
Changes in US oil production and inventory levels play a crucial role in influencing global oil prices.
Currency Fluctuations:
The value of the US dollar against other major currencies can impact oil prices, as oil is typically priced in US dollars.
Day Trading Opportunities in the Oil Market:
The volatile nature of the oil market presents several trading opportunities for skilled day traders:
Identifying Trends:
Identifying and trading with the prevailing trend (uptrend, downtrend, or sideways) is crucial. Technical analysis tools like moving averages and trend lines can be valuable in this regard.
Capitalizing on News Events:
Anticipating and reacting to news events, such as OPEC+ meetings, geopolitical developments, and economic data releases, can provide significant trading opportunities.
Volatility Trading:
High volatility periods can create short-term trading opportunities, but require careful risk management and a robust trading plan.
Scalping:
Scalping involves taking small profits on small price movements. This strategy requires quick decision-making and a deep understanding of market dynamics.
Key Considerations for Day Trading Oil:
High Volatility: The oil market is known for its volatility, which can present both significant opportunities and risks.
Risk Management: Implementing strict stop-loss orders and position sizing strategies is crucial to manage risk effectively.
Fundamental Analysis: Stay informed about geopolitical events, economic data, and industry news to make informed trading decisions.
Technical Analysis: Utilize technical indicators such as moving averages, RSI, and MACD to identify entry and exit points.
Emotional Control: The volatile nature of the oil market can trigger emotional responses. It's crucial to maintain discipline and avoid impulsive trading decisions.
USOIL BULLISH TARGET 82Hey There on 1DTF USOIL continued rising there value daily basis
1. Horizontally support for bearish level is above 80 if the rejection is manipulate and touch there Supply zone we can see bearish pattern
2. Technically Support showing that USOIL will bullish pattern continued next there target 82
Hopefully we can see rising candle of USOIL daily basis
Good luck🤞🤞
Crude @Resistance zoneCrude now trading at Resistance zone near 80.5/82$
If not sustain above then again seen down side
Oil Prices will be on the stage "again"TVC:USOIL
Already break up the monthly downtrend line.
The target is based on the Fibonacci extension.
SELL USOILGood morinng traders!
Our trade today is on OIL, we're selling after having the reversal confirmed by thge market to target our LQ level.
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CRUDE OIL // long after correctionThe market has managed to stay above the monthly impulse base (orange), and the weekly/daily has turned up.
The daily has reached the target fibo 138.2 with an impulse, therefore, I expect a countertrend here on H4/H1, and I want to go long after that countertrend breaks.
The target is the monthly breakdown and the daily target fibo 200.
———
EXPLAINING COLORS
Orange lines represent impulse bases on major timeframes, signaling the direction and validity of the prevailing trend by acting as key levels where significant momentum originated.
Level colors:
H4 - aqua
Daily - blue
Weekly - purple
Monthly - magenta
———
Stay grounded, stay present. 🏄🏼♂️
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USOIL turning point 78.466 read caption for more...I have prepared this setup for USOIL what do you think about it let me in comment section.
I am waiting for the area of 78.466 as it is was a resistance made in earlier days. If this breaks and H4 candle closes above then target will be 80.240 as the result of bullish move and on the other hand if it does not closes above or breaks this area then the target will be 76.570 as a result of bearish move.
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USOIL, evening analysisTechnical analysis of USOIL (CL1!).
Bullish (green) and bearish (red) counts for USOIL.
Price likely to rise towards resistance at 94.99, with median line of pitchfork as target.
Bulls see EW count in a wave 3, with price to challenge 2022 highs and keep 94.99 as support once it breaks as resistance.
Bears see a wave c in progress, to complete a zigzag X in the 96.5-105 area, then roll back down with a Y below 63.61.
oilOANDA:WTICOUSD
oil its look uptrend to break the last high when price reach the 70.80 you want to enjoy your profits or move sl to entry price and wait until reach the target
USOILUSOIL approached a supply level which can act as a resistance to push it down but incase whereby we breakout of the supply a possible pullback and bullish opportunities would come into play
Oil Technical Analysis: Breaking a Historical Trendline As anticipated, oil continued its upward movement and has now broken a significant historical trendline. This breakout could pave the way for oil to reach the $80 resistance level.
There is a likelihood of the price touching the marked supply zone, which could attract more buyers. This zone presents a potential opportunity for entering a buy position.
US OIL BREAK THERE TARGETHey there on 1HTF US oil change there shape we have seen mostly bearish but this year we could possibly seems to break there all time high level 77$ breaks
And now we could possibly seems there previously years we had seen 80$ to 90$ per ounce so we could see also this zone breaks and will continue push upside
Good luck🤞
