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WTI: Crude oil drops amid ceasefire reportsCrude oil prices tumbled on the back of reports of a ceasefire between Israel and Lebanon. The news also sent gold prices lower. If confirmed, this will remove some of the geopolitical premium in oil prices, which had provided support for oil since Israel’s war started. Today's drop means, WTI has held below key resistance around $71.50 - $72.50 range. While below here, any short-term recoveries like we have seen last week would be against the underlying trend. Short-term support around $69.29 to $70.00 was being eroded at the time of writing. A close below here could pave the way for a potential retest of recent lows around $67.00, below which we don't have much in the way of support until $65.00. By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:USOILShort
by FOREXcom
USOIL CHART ANALYSIS – NOV 25📊 USOIL CHART ANALYSIS – Weekly Update 📈 Technical / Naked Price Action ⚖️ Overall Sentiment: Bullish 🐂 🎲 Hello traders! USOIL continues to move in line with our expectations. Last week, we saw Crude Oil test its yearly support zone and fail to break below. The positive Crude Oil Inventories report triggered a short-term bullish momentum , pushing prices higher. Currently, support at $69 appears to be holding firm, and we’re closely watching for buy entries on a retest. 💡 Key Observations: Bullish Outlook: This week, we may see confirmation of a bullish ABC wave move if momentum sustains. Risk Management: While I remain focused on LONG opportunities, traders considering SELL entries should proceed cautiously and watch for signs of market reversal. Critical Event: Keep an eye on Tuesday’s Crude Oil Inventories (EIA) report , as it will likely influence market direction this week. 📌 Trading Tip: Wait for a retest of $69 support before entering long positions. Avoid forcing trades and stay disciplined in your setups. 🧠 Let’s Collaborate! Share your trade ideas, thoughts, and charts in the ⁠💬. How do you think USOIL will play out this week? Let us know! Best Regards, The NFX Team™ 💚
FX:USOILLong
by niclaxfx
Bearish Storm Incoming: Will USOIL Collapse to $67?Key Observations Current Strong High & Invalidation Point (70.34): Marked as Wave 0 and serves as the critical level for invalidating any bearish outlook. If this level is breached, it may signal the continuation of the bullish trend. Primary Distribution Structure: The chart is showcasing Wyckoff Distribution with the following features: Preliminary Supply (PSY): Initial reaction around 69.19 indicates buyers were overwhelmed. Buying Climax (BC): A peak at the liquidity level (approx. 70.34), marking the point of institutional distribution. Automatic Reaction (AR): Subsequent pullback leading to the initial range. Liquidity Traps: Inducement: Highlighted above the fake breakout line around 69.35, trapping retail traders who anticipated a breakout higher. Liquidity Pool: Formation of equal lows near 68.00 suggests stops are building, acting as a magnet for price. Supply Zones and Key Areas: Bearish Order Block (OB): Around 69.35, which aligns with the Point of Control (POC) on the Volume Profile. This zone may act as a resistance for price action. Support Line - AR Distribution: Near 68.88, which aligns with the low-volume node on the profile, indicating minimal institutional activity in this zone. Projected Elliott Wave Count: Current count suggests we are heading into Wave 5 of the bearish cycle. Wave 3: Shows impulsive price action, which broke through liquidity. Wave 4: Retracement has hit resistance within the supply zone. Wave 5 Targets: Potential targets are around 67.42-66.91, which aligns with historical liquidity levels. Creek Formation: The Creek Line indicates minimal resistance in the current path, where a low-resistance liquidity run (LRLR) may accelerate momentum to the downside. Volume Profile Insight: The Point of Control (POC) resides at 69.22, suggesting that most transactions have occurred here. This level aligns with the AR zone, which could act as a decisive battleground. Potential Scenarios Bearish Scenario (Primary): Price fails to sustain above the Bearish OB (69.35) and breaks below the AR line at 68.88. Wave 5 completes at the liquidity pool levels between 67.42-66.91. Bullish Scenario (Alternate): A sharp breakout above the invalid point (70.34) confirms the strength of the buyers and invalidates Wave 5 projections. This would signal a transition from distribution to an accumulation phase.
TVC:USOILShort
by spaceangel
7
USOIL Will Collapse! SELL! My dear subscribers, USOIL looks like it will make a good move, and here are the details: The market is trading on 71.12 pivot level. Bias - Bearish My Stop Loss - 71.78 Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 69.89 About Used Indicators: The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. ——————————— WISH YOU ALL LUCK
TVC:USOILShort
by AnabelSignals
2