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WTI trade ideas

Analysis of USOIL and Falling Wedge Breakout PotentialThe forex pair USOIL is currently priced at 75.000, with a target price set at 103. This indicates an expectation of significant upward movement. The technical pattern in focus is the Falling Wedge, a bullish reversal pattern often found in downtrends. In this setup, the price consolidates between converging trendlines, suggesting decreasing momentum in the downward movement. A breakout above the resistance line typically signals a trend reversal. Traders anticipate a breakout in this case, leading to a potential rally towards the target. This scenario implies increased buying pressure and positive market sentiment. Risk management is crucial, as breakouts can sometimes fail. Confirmation of the breakout, such as strong volume or a clear candle close above resistance, adds reliability to the trade setup. Monitoring key levels closely will help refine the strategy.
TVC:USOILLong
by AndrewsMarket-Mastery
1
WTI reaches key resistance zoneCrude oil prices have been stealthily rising over the past couple of weeks, but now is the real test as prices have reached some important resistance levels. As per the chart, WTI faces a band of resistance from its bearish trend line, 200-day moving average, and prior support and resistance, all converging around the psychologically important $75.00 level. Specifically, the resistance range comes in between $74.55 to $77.50. Yesterday's bearish price candle was the first sign of a potential reversal, although we haven't yet seen any downside follow-through. Support comes in around $71.50, the base of the recent breakout. Below that, $70.00 is the next downside target, followed by the recent lows. By Fawad Razaqzada, market analyst at FOREX.com
TVC:USOILShort
by FOREXcom
USOIL: Key Levels and Trend Direction AnalysisUSOIL Analysis The price has stabilized above the pivot line and closed the daily candle above it, indicating a continuation of the bullish trend gradually toward 75.35. A retest of 72.75 is possible before pushing up again. On the other hand, a 4-hour candle closing below 72.74 would confirm a bearish trend, targeting 71.78. Key Levels: Pivot Line: 73.40 Resistance Levels: 74.40, 75.35, 76.10 Support Levels: 72.74, 71.78, 70.50 Trend outlook: Bullish: While above 72.75 Bearish: If 72.74 is broken
TVC:USOILLong
by SroshMayi
Oil Driven by Economic and Geopolitical FactorsOil prices have experienced a remarkable surge, with gains reaching nearly 5% at the peak of the session, marking one of the most positive trading days since late 2023. While part of the initial momentum has moderated, crude remains substantially up, around 3%, largely driven by the strength of the U.S. labor market, as revealed by the recent Non-Farm Payrolls (NFP) data. This solid performance in U.S. employment reinforces the outlook for a robust economy, which in turn exerts upward pressure on commodity prices, especially energy commodities like oil. This rebound is not an isolated event. Crude has found a new support level around $67 per barrel for WTI, driven by factors such as the increase in fuel demand due to recent winter storms, the ongoing production cuts by OPEC+, and expectations of potential sanctions under the new administration. The December 2024 NFP data far exceeded market expectations, with the creation of 256,000 jobs, the largest increase in nine months, compared to the 160,000 forecast. This figure, alongside other positive economic indicators such as the services PMI and job openings, strengthens the narrative of a resilient U.S. economy. The robust U.S. labor market acts as a catalyst for energy demand, driving oil prices higher. This economic dynamism, combined with geopolitical factors and decisions by OPEC+, creates a complex yet favorable environment for crude in the short term. Beyond short-term factors, the production strategy of the new administration will play a crucial role in the evolution of oil prices. Plans to increase production by over 3 million barrels per day could have a significant market impact. The projected increase in oil production by the administration introduces a key uncertainty. This could limit upward price pressures and potentially shift the balance in the global oil market. In summary, oil prices are currently in a period of notable dynamism, driven by a combination of economic, geopolitical, and strategic factors. The strong U.S. labor market, the supply restrictions by OPEC+, and expectations surrounding the new administration shape a complex scenario that markets will closely monitor. Recent economic data, with an unexpectedly strong labor market, suggests economic resilience that supports energy demand. However, the potential increase in domestic production could temper this momentum. The balance among these factors will determine the trajectory of oil prices in the coming months.
PEPPERSTONE:SPOTCRUDE
by Pepperstone
Quick Gains from Black Gold: A Short-Term Strategy for Oil🚀 Bullish Analysis for Crude Oil: Current Price: 73.11 USD. Support: The price is bouncing off the lower trend line of our ascending channel, acting like a solid floor! 🛑 RSI: At 39.10, we're not even halfway to overbought territory, plenty of room to climb! 📈 Entry: Buy now at 73.11 USD. Take Profit Levels: 🎯 Take Profit 1: 73.60 USD 🎯 Take Profit 2: 74.25 USD 🏆 Take Profit 3: 75.00 USD Stop Loss: Set your safety net at 72.40 USD, just below our support line. 🛡 This setup is not just good, it's electrifying! With a stop loss that's a safe distance away, you're setting up for a potential win with a solid risk-reward ratio. Let's ride this wave! 🌊
TVC:USOILLong
by ValchevFinance
1
USOIL Under Pressure! SELL! My dear friends, Please, find my technical outlook for USOIL below: The price is coiling around a solid key level - 76.54 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 75.36 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
TVC:USOILShort
by AnabelSignals
1
Crude oil Is Approaching ResistanceCrude oil is coming higher on 4h time frame, out of a wave B bullish triangle that we have been tracking through December. Well, we know that moves out of a triangle are final in a sequence, so we can expect limited upside, and ideally, this will cause the completion of wave E rally of a larger bearish triangle pattern. It's now approaching an important resistance at 74-75, its gap from mid-October, right at the upper side of a triangle. There is a chance for a turn soon. A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves that subdivide 3-3-3-3-3 and are labeled A-B-C-D-E. It’s a region of horizontal price movement, a consolidation of a prior move, and it is composed of “threes.” That means each of the A-B-C-D-E waves have three subwaves. The triangle pattern is generally categorized as a continuation pattern, meaning that after the pattern completes, it’s assumed that the price will continue in the trend direction it was moving before the pattern appeared. However, triangles also indicate that the final leg is coming before a reversal and that’s why triangles are labeled in wave B, wave X or wave 4.
BLACKBULL:WTIShort
by ew-forecast
CRUDE OIL TO HIT $160?! (UPDATE):It's been a few months since I've done an update on my Crude Oil analysis, as Oil prices have been stagnant & consolidating. But in the past week & a half we've seen a huge push to the upside, with Oil now sitting at a 3 month high! Currently up 700 PIPS (10.40%) in profit from our support zone. Long term I still remain bullish from a technical standpoint. Also, we already know from a fundamental standpoint, the puppet Donald Trump will be used to worsen geopolitical situations globally, weather that's in the Middle East or with China & Russia.
TVC:USOILLong
by BA_Investments
Oil Bulls Go for the Break into Yearly OpenOil prices are threatening a major breakout here after clearing resistance yesterday at the objective 2024 yearly open near 72.14 . The focus is on todays close with respect to the 61.8% retracement at 73.90 . A daily close above would keep the focus on a possible rally towrads the 78.6% retracement at 75.89 and the October high-close at 77.25 - note the highlighted slope confluence (look for a larger reaction there IF reached). Initial support back at 72.14 with bullish invalidation now raised to 71.02 . MB
TVC:USOIL
by FOREXcom
USOIL Will Fall! Short! Please, check our technical outlook for USOIL. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 74.10. Taking into consideration the structure & trend analysis, I believe that the market will reach 72.60 level soon. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILShort
by SignalProvider
1
WTI Oil H4 | Falling to overlap supportWTI oil (USOIL) is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 72.65 which is an overlap support that aligns close to the 23.6% Fibonacci retracement level. Stop loss is at 71.10 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level. Take profit is at 75.13 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
USOIL Will Go Down From Resistance! Short! Take a look at our analysis for USOIL. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 76.573. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 72.081 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
FX:USOILShort
by SignalProvider
1
US Crude Oil: Key Bullish Levels and Fibonacci InsightsTVC:USOIL US Crude Oil: Key Bullish Levels and Fibonacci Insights Analysis: The chart provided is a 4-hour timeframe of US Crude Oil (WTI) with various indicators and annotations. The chart shows price action, Smart Money Concepts (SMC), and Fibonacci retracement levels. Price Action and SMC: Change of Character (ChoCH): Multiple ChoCH points are marked, indicating shifts in market structure. Break of Structure (BOS): BOS points are also marked, showing significant breaks in the market structure. Support and Resistance Levels: Key levels are marked at 74.98, 74.64, 72.52, 71.37, 70.95, and 70.01. Fibonacci Retracement: The Fibonacci retracement levels are drawn from a recent swing low to swing high. Key Fibonacci levels are 0.382 (74.03804), 0.5 (73.71), 0.618 (73.38196), and 0.786 (72.91492). Volume Profile: The volume profile on the right side shows high trading activity around the 70.01 level, indicating strong support. Relative Strength Index (RSI): The RSI is currently at 67.65, indicating that the market is approaching overbought conditions but still has room for upward movement. Buy Strategy: Entry: 74.00 (near the 0.382 Fibonacci level) Take Profit 1 (TP1): 75.10 (110 pips) Take Profit 2 (TP2): 76.00 (200 pips) Stop Loss (SL): 73.00 (100 pips) Sell Strategy: Entry: 72.50 (near the 0.786 Fibonacci level) Take Profit 1 (TP1): 71.50 (100 pips) Take Profit 2 (TP2): 70.50 (200 pips) Stop Loss (SL): 73.50 (100 pips) VIP Signal Buy: entry 74.00 tp1 75.10 (110 pips) tp2 76.00 (200 pips) sl 73.00 (100 pips) Sell: entry 72.50 tp1 71.50 (100 pips) tp2 70.50 (200 pips) sl 73.50 (100 pips) Follow @Alexgoldhunter for more strategic ideas and minds This analysis integrates Price Action, Smart Money Concepts (SMC), and ICT Elliott Wave strategies to provide detailed buy and sell strategies. The Fibonacci retracement levels, volume profile, and RSI indicators highlight key areas of interest for optimal trading decisions.
THINKMARKETS:WTI
by Alexgoldhunter
Is crude finally breaking out?Crude oil was weaker in early trade, pulling back from levels last seen in mid-October. This followed an impressive rally which began on Friday 27th December. This saw front-month WTI break out from a longstanding downtrend which can trace its origins back to September 2023, punctuated by a series of lower highs and lower lows. But the early weakness quickly evaporated on the sudden fall in the US dollar. The Dollar Index dropped on renewed tariff threats from the incoming Trump administration, leading to a sharp rally in dollar-denominated commodities and other financial assets. Oil prices have rallied a long way in a relatively short period of time. Yet last year, buyers were repeatedly disappointed as every rally attempt was quickly blocked. Could things be different in 2025? It’s certainly possible from a technical perspective, even if there’s been no obvious improvement in the fundamental picture. The daily MACD is back in positive territory and pointing up, suggesting that momentum has turned positive. The next big test for front-month WTI is the $75 region, which is only a dollar away. But it may be that prices need to back up and consolidate before they can attempt another significant move higher.
TRADENATION:WTI
by TradeNation