Bullish bounce?USO/USD has bounced off the support level which is a pullback support that lines up with the 50% Fibonacci retracement and could potentially rise from this level to our take profit.
Entry: 58.96
Why we like it:
There is a pullback support level that lines up with the 50% Fibonacci retracement.
Stop loss: 56.81
Why we like it:
There is a pullback support level that lines up with the 78.6% Fibonacci retracement.
Take profit: 63.23
Why we like it:
There is a pullback resistance level.
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WTI trade ideas
USOIL Oil – April 10, 2025
Price Action & Trend Analysis:
- Current Market Position:
- WTI Crude Oil is showing a bearish trend within a falling wedge pattern, a technical formation that often signals a potential breakout after consolidation. This pattern is visible with converging trendlines (blue), which suggest a potential move to the downside.
- The resistance zone is marked at 61.50, and the price is struggling to break above this level. If it does not break out of this level, further downside momentum may be expected.
Key Levels:
1. Resistance Zone:
- The resistance level is clearly marked near 61.50, and price action has repeatedly struggled to move above this level, showing signs of rejection. A failure to break this l…
ChatGPT: 4. FVG (Fair Value Gap):
- There is a Fair Value Gap (FVG) near 58.12, which indicates a possible area of imbalance where price could potentially retrace to fill the gap before moving in its next direction.
Volume Analysis:
- The volume profile indicates decreasing volume as the price approaches the resistance zone at 61.50, which may suggest a weakening of bullish momentum.
- The increasing volume near the support level at 58.00 suggests that buyers are looking to step in at these levels, but this remains to be seen as the price moves toward this region.
Key Observations:
- The bearish divergence observed between price and momentum suggests that bearish pressure is mounting, especially with the price failing to breach resistance and forming lower highs.
- T
WTI CRUDE OIL: Potential bottom and massive rebound to 71.00.WTI Crude Oil got oversold on its 1D technical outlook (RSI = 31.096, MACD = -1.620, ADX = 38.232) but is recovering its 1W candle now as it hit the bottom (LL) of the 1 year Channel Down. If the 1W candle makes a green closing, we will consider this a bottom, as the 1W RSI is also on its LL trendline) and go for a long aimed as the previous one at the 0.618 Fibonacci (TP = 71.00).
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Bears to scoop the Oil all the way to the 42.00 zone U.S. oil prices have extended their losses this Wednesday, plunging by more than 6% after China just announced it has raised tariff trade duty on goods from the United States from 34% to 84% starting 10th April in response to US President Donald Trump's tariffs, including a cumulative levy rate of 104% on Chinese imports. Traders are now remaining wary of investing amid United States President Donald Trump's tariffs on other countries and specific imports, despite the continued turmoil in the Middle East,
That being said I'm with the bears on this one
sell @after retest @60.00
1st Tp @42.00
Crude Oil Found Support: What's Next?FenzoFx—Crude oil tested the $58.9 level as support and bounced back from it. The primary trend is bearish; therefore, it will likely resume if the price closes and stabilizes below this support.
If this scenario unfolds, the next bearish target could be the $55.15 support level.
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WTI Crude Oil | Potential Cup Formation with Volume Support.I’m spotting a potential Cup formation on the 30-min chart of WTI Crude Oil (USOILSPC), backed by strong volume profile zones. The price has recently pulled back to a low-volume area and is now consolidating with higher lows forming the right side of the cup.
A break above the $60.60–$60.80 zone could trigger bullish continuation toward $64+, with strong support seen around the $59–$59.30 range (volume shelf).
Setup Details:
• Pattern: Cup (early stage)
• Entry idea: Break & retest above $60.60
• TP: $64.00
• SL: Below $58.90
• Volume profile confirms accumulation near the lows
Watching closely for confirmation before adding more size. This is part of a low-risk entry using a funded account model.
#CrudeOil #WTI #VolumeProfile #CupFormation #BreakoutTrade #SmartMoneyConcepts
USOIL CATCHING THE FALLING KNIFE|LONG|
✅CRUDE OIL lost 18% of it's
Value in the last 5 days on the
Trade war news, which makes
The market to expect a recession
And a sharp drop in the oil demand
However, I still think that Oil
Is locally oversold, therefore
A local bullish correction is
To be expected from the
Horizontal support below
Around 57.34$ and the
Target being the resistance
Above around 61.81$
LONG🚀
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
WTI Crude Oil Analysis: My Bearish Outlook Towards $25.OANDA:WTICOUSD
We need to shift to the weekly chart to better understand the potential downside for OANDA:WTICOUSD Crude Oil.
Crude Oil has already broken below the daily, weekly, and monthly fractal support levels. The drop below the monthly fractal support at $65.65 has opened up the potential for a significant decline. With this key support level breached, Crude Oil is now at risk of testing much lower levels, possibly approaching the April lows. This would create the possibility of a bullish bat pattern forming around $24.88, signaling a potential reversal from these much lower prices.
On the resistance side, the monthly fractal resistance at $80.75 continues to be a major barrier, as well as the weekly fractal resistance, which reinforces the difficulty of any upward movement. The daily fractal resistance at $72.48 remains another obstacle for any short-term recovery attempts.
As for the support levels, Crude has already broken below the daily fractal support at $69.07 and the weekly fractal support at $65.40. These breaches now threaten the monthly fractal support at $65.65, confirming the bearish sentiment in the market. With these key levels broken, the market is showing clear signs of weakness, and the potential for further downside movement remains high.
At this stage, we should be cautious and watch closely for signs of a bottoming formation or a reversal pattern, but the immediate outlook suggests further downside risk.
Happy Trading,
André Cardoso
OIL TO PUMP UPOil has broken the downtrend and turned bullish. Tump's Iran threads is also likely to accelerate the bullish push faster.
Risk no more than one per cent.
Swing trade so expect to hold it for weeks
Once trade over 200 pips in profit, set breakeven
Follow us for more perfect swing setups
USOIL:You need to refer to this strategyPresident Trump of the United States suddenly announced the suspension of tariffs, which led to a significant change in market sentiment.
Since tariffs play a crucial role in global economic relations and market expectations, this unexpected move has caused investors to adjust their investment portfolios.
As the new tariff suspension policy has reduced market uncertainties to a certain extent, gold, which is usually regarded as a safe-haven asset, has been sold off.
Conversely, the price of USOIL has soared, reflecting the market's rapid response to this major policy change.
If you're at a loss right now, don't face it alone. Please contact me. We are always ready to fight side by side with you.
Oil holds below $60: demand likely down, supply upSince the announcement of higher than expected new American tariffs, especially on China, oil’s decline has been dramatic. The very high tariffs on China are important because China is the largest importer of oil, so economic headwinds there usually have a significant effect on demand. OPEC+ decided last week to increase supply next month.
4 April was American light oil’s lowest weekly close since August 2021, so it’s difficult to estimate the next potential support. The 78.6% monthly Fibonacci retracement is around $40, but even in the circumstances that’s a very long way from where the price is now. The unusual strength of the oversold signal and the size of recent candlesticks call into question whether the price might continue immediately lower unless significant fresh trade news reaches markets.
Equally, buying oil now looks like trying to ‘catch the knife’. Fundamentals are quite strongly negative and 7 April’s failed bounce suggests that demand is likely to remain low for some time unless there’s another round of strong losses or the tone of the news changes. Short-term trading of retracements seems to be the least bad option now.
This is my personal opinion, not the opinion of Exness. This is not a recommendation to trade.
WTI Wave Analysis – 8 April 2025
- WTI broke the long-term support zone
- Likely to fall to support level 55.00
WTI crude oil recently broke the long-term support zone set between the support levels 60.00 and 65.00. This support zone has stopped all downward corrections from the middle of 2021.
The breakout of this support zone accelerated the active downward impulse wave 3, which belongs to the intermediate impulse wave (3) from the start of 2024.
Given the strong downtrend seen on the weekly WTI charts, WTI crude oil can be expected to fall to the next support level 55.00, the target price for the completion of the active impulse wave (3).
USOIL ChatGPT: Chart Analysis for WTI Crude Oil (1-Hour Timeframe) – April 08, 2025
Key Observations:
1. Trend and Price Action:
- WTI Crude Oil has been trading in a range-bound pattern, as shown by the blue trendlines. The price has been bouncing between the resistance and support levels. Currently, the price is at the lower end of this range near the support level around 58.88.
- The resistance level is at 59.05, and this has been tested multiple times without a sustained breakout, indicating that sellers have been in control around this level.
- The price just tested the support level and bounced slightly higher, which suggests the market may be consolidating before deciding the next move.
2. Order Block and FVG (Fair Value Gap):
- The order block is located…
ChatGPT: - Fair Value Gap (FVG) has been formed around the order block. This means there’s an imbalance in the market that could eventually be filled. Traders should watch for price action near this gap for further insight into whether the gap will be filled or left untested.
3. Volume:
- Volume is relatively low, which suggests a lack of strong momentum in the market. This is typical in range-bound markets, where buying and selling activity are often balanced.
- However, the volume has spiked during the downward move, which could indicate a potential bearish continuation if the price breaks below 58.88.
4. Bearish Setup and Target:
- The chart is showing a bearish setup with the price trading below the resistance zone, and it is testing the support level near
Buy oil! Target 63-65!Crude oil is currently in a short position overall, and the rebound momentum is relatively weak. However, in the short-term structure, oil has shown obvious signs of stopping the decline, and the support of the 60-59 area below is still valid.
After hitting the low point of 58.9, oil began to rebound, and the rebound low gradually shifted upward. At present, oil holds the support near 60, and is expected to build a W-bottom structure in the short-term structure, which is conducive to further rebound of oil prices.
Therefore, in terms of short-term trading, you can try to go long on crude oil in the 60.5-59.5 area, and the rebound target will first look at 63, followed by 65
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Plotted by TrumpI’ve been telling people that this is just a panic sell that people are doing, just keep your position no matter which price it goes to. 55,50,45,40. Its okay because ive advised to buy crude without leverage for investing. Its time to buy more actually!
I got some more positions yesterday, and might get another if it falls to 55. 👌
Keep it up because our trades will be profitable😁