USOIL PLAYED OUT AS PREDICTEDLast week , I dropped this analysis and price prediction. It Played out exactly!
Hope You Made Some Cool Cash!
The Power of a good Trading (PRORARP)
XTIUSD trade ideas
WTI highest in more than 3 weeksTVC:USOIL hit its highest level in more than three months in early trading on Monday (January 13) in Asian markets, continuing last Friday's rise on market expectations that the United States will strengthen its measures. sanctions on Russia's oil industry, which will result in Russian supplies in China and India coming under pressure; In addition, the nonfarm payrolls report also boosted market confidence in the growth of crude oil demand in some parts of the US and Europe also stimulated winter crude oil fuel demand.
The Biden administration on Friday imposed the broadest package of sanctions targeting Russia's oil and gas revenues, a move aimed at giving Kyiv and Trump's new team leverage to reach a peace deal in Ukraine. This move is aimed at cutting Russia's revenue to continue the war. Since the Russia-Ukraine conflict began in Russia in February 2022, the war has caused tens of thousands of casualties and reduced many cities to rubble.
Ukrainian President Zelensky posted on X that the measures announced last Friday would "deal a big blow" to Moscow. He added that "The less money Russia gets from oil... the sooner peace will be restored."
US job growth unexpectedly accelerated in December, the unemployment rate fell to 4.1% and a stable labor market at the end of the year will boost crude oil demand.
Friday's closely watched Labor Department jobs report also showed fewer long-term unemployed people in December and the average length of unemployment shortened. Increases in these indicators have previously raised concerns about a labor market downturn.
December employment rose 256,000, the most since March. Data for October and November were revised to show 8,000 fewer jobs were added than previously reported.
The unemployment rate decreased from 4.2% in November. The average unemployment rate last year was 4.0% and in 2023 it will be 3.6%. In Friday's report, the government also released revisions to the past five years of seasonally adjusted household survey data, from which the unemployment rate is calculated.
With last Friday's jobs data settling in, this week will see a lot of US data and statements from Federal Reserve officials. US President-elect Donald Trump's team is expected to make many comments before the inauguration ceremony on January 20. China's trade data, economic activity and GDP will also be the focus of the market in general and the Crude Oil market in particular.
On the daily chart, TVC:USOIL continues its uptrend after breaking through the rising price channel noticed by readers in the previous issue. And currently the upward momentum is limited by the 0.618% Fibonacci retracement level, once WTI crude oil breaks above this level it can continue to increase further with the target then around 82.75USD in the short term.
However, the Relative Strength Index shows that the RSI is operating in the overbought area, which is a signal that there is not much room for price increases ahead, and also signals a possible downward correction. happen.
However, the technical outlook for WTI crude oil is currently bullish with support from the trend price channel, EMA21 and the nearest support level at the 0.50% Fibonacci retracement.
As long as WTI crude oil remains above the price channel and EMA21, any price declines should only be considered short-term corrections, notable levels will also be listed as follows.
Support: 76.33 – 75.20 – 74.61USD
Resistance: 78.98USD
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.
WTI Breakdown: Bearish Structure & Possible Trade Opportunity 👀 👉 Analyzing the WTI chart, we can observe a lower high and a lower low, indicating a bearish break in structure. I anticipate some additional downside movement. In the video, we delve into the trend, price action, market structure, and explore a potential trade opportunity. ⚠️ This content is for educational purposes only and does not constitute financial advice.
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! 🌊
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
OIL/US -looking bullish in 1H ChartUS/OIL If you're sharing your analysis or perspective on the 1H chart of US Oil, it's good to add some context to your post to engage your audience. Here's how you could phrase it:
"US/OIL - Looking Bullish on the 1H Chart 📈
The trend is showing strong bullish signals, supported by .
Keep an eye on the resistance at and potential pullbacks to .
What are your thoughts? Are you bullish or bearish on oil right now?"
Would you like help crafting a more technical or casual tone, or even adding visuals to go with your post?
USOIL USOIL is still in an uptrend. Previous analysis on 1/12/2024, the price is up as expected and we expect the price to test the resistance zone 78-79. If the price cannot break through the 79 level, we expect the price to go down in the short term. Consider selling the red zone.
🔥Trading futures, forex, CFDs and stocks carries a risk of loss.
Please consider carefully whether such trading is suitable for you.
>>GooD Luck 😊
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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.
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WISH YOU ALL LUCK
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
Crude Oil Next Target 80 dollar..May Retrace a bit if opens FlatAs mentioned in previous post of 4th January.....Target of 77.8 ..very closer to 78 dollars has achieved. ...
As Crude-oil has not taken proper retracement yet...we can expect a sharp fall on Monday if its open at flat note....RSI and 200 EMA in Daily time frame supporting Bullish side of Crude Oil...so if its a Gap Up Opening we may see the target hitting of 80 Dollars.
$USOIL USOIL WT CRUDE OIL Descending TriangleTVC:USOIL USOIL WT CRUDE OIL price action has formed a Descending Triangle on the Weekly timeframe.
Current Price: 70.3
In previous years, #USOIL reached a high of 149 and retraced to a low of 66.4 (A retracement of over 50%)
A breakout of Descending triangle can lead to higher prices: 73.9, 84.4, 94.3
A break below 66.4 can lead to prices down to 42.7!
It remains to be seen...
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.
USOIL TRADE SETUP ALERT!USOIL TRADE SETUP ALERT!
Market Sell Liquidity Sweep Complete!
Now, we're waiting for:
WEEKLY FVG (Fair Value Gap) RETEST
Strategy:
SELL ENTRY: If market retests above FVG, we'll take a sell entry till FVG.
BULLISH TRADE: If market approaches the bullish FVG, we'll take a long trade.
Get ready to trade!
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.
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Oil UpdateOil Update
We talked before about oil around the entry points 67.800 and 69.750
And we have investment or speculative targets with a little patience as targets of $81
And we have set the priority targets
72.5
73
74
74.50
75
Today we are at the level of $77 Are you happy!
US OIL BREAK THERE TARGETHey there on 1HTF US oil change there shape we have seen mostly bearish but this year we could possibly seems to break there all time high level 77$ 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🤞
USOIL Potential UpsidesHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 75 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 75 support and resistance area.
Trade safe, Joe.
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.
Oil UpdateOil Update
There were good entry areas between 67.800 and 69.750 and now from the latest update
Oil breaks the red resistance line
Oil flutters upwards 73
You have to watch the stability of the daily and weekly closing above this line otherwise we will return to the 67 areas
As an investor be steady and any decline is a target for buying and investing in the medium and long term and the targets are above $81
I hope everyone benefits
