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Oil - Crude (WTI)

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US OIL (WTI) - Top Down AnalysisHi Followers, Apologies for the delay in posting the charts. I am busy in testing and trying couple of things (a strategy and a Trading Style or Type). Let's get into the analysis now. I have marked the resistance and support levels @ 1D, 4H and 1H. I have used ABCD harmonic pattern, Fib and trendline in y analysis. The chart is at the moment testing an hourly resistance and has tested it twice previously, making that a strong resistance level. I have drawn fib retracement on a downward swing on an entire price range and found out that the price action has tested the resistance twice @ 0.382 level. So, if the price breaks the 0.382 level all the way up to the upper bounds of the resistance zone then according to ABCD harmonic it will be bullish. However, there can be another resistance zone between 0.5 and 0.618 fib levels. My take would be to avoid executing trade on this asset because it is sideways and may give false breakout. It would be relatively safer to execute a sell order rather than a buy order because after testing the marked resistance zone price may bounce back.
GBEBROKERS:USOIL
by MuhammadArif039
USOIL Will Go Higher! Buy! Please, check our technical outlook for USOIL. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 71.62. Taking into consideration the structure & trend analysis, I believe that the market will reach 73.20 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILLong
by SignalProvider
1
Continue to short crude oilDear traders, you need to be cautious when trading. You must set stop loss and take profit for each transaction. This can better protect your account from being stuck. I will continue to update the crude oil trading strategy. API data crude oil inventory is bearish. So far, the market has not responded to the API data. That is to say, the EIA in the evening is also likely to be bearish. The continuous rise in the past few days mentioned yesterday is the abc three waves after the end of the 5th wave. Lao Li re-looked at the market today and saw that it was a 4-wave rise. The US$64.61 is the end point of the main decline of the 3rd wave. The starting point of the three waves is US$79.70. Of course, this number of waves is valid at present. Once the situation in the Middle East continues to escalate, the market will inevitably break through the starting point of the 3rd wave of US$79.70. Therefore, we must follow the real-time fluctuations of the market at any time to update the number of waves in real time. So today, Lao Li will not consider whether the situation in the Middle East will escalate, because we can't know when these guys in the Middle East will make moves again. As soon as we see the news of the start of the fight in the Middle East, we will stop shorting immediately and follow the news to make a short-term long. Therefore, today's idea is still mainly to take risks and short. 1. Go short at $75.30, stop loss 30 pips, take profit $72.50. (Short aggressively at $74.80) 2. Go long at $72.20, stop loss 30 pips, take profit $73.70. 3. If the short position of strategy 1 is stopped out, go short again at $76.15, stop loss 30 pips, take profit $74.
TVC:USOILShort
by jfqch1
1
WTI Oil H4 | Potential bullish bounceWTI oil (USOIL) ) is falling towards a swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 69.33 which is a swing-low support. Stop loss is at 68.46 which is a level that aligns under a pullback support and the 78.6% Fibonacci retracement level. Take profit is at 71.93 which is a swing-high 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
Bearish drop?WTI oil (XTI/USD) is reacting off the pivot which has been identified as an overlap resistance and could drop to the 1st support level which acts as a pullback support. Pivot: 71.23 1st Support: 70.03 1st Resistance: 72 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XTIUSDShort
by ICmarkets
USOIL LongThe first higher high after a downtrend indicates a potential trend reversal to the upside. It shows that buyers are starting to regain control, signaling the possibility of a new bullish trend. Trendline Break: A break above a significant trendline further confirms the shift in sentiment from bearish to bullish. The trendline break signifies that selling pressure has weakened, and the market is poised for further upward movement. Retest of Trendline: After breaking the trendline, the price often retests the broken trendline, which now acts as support. This retest offers a low-risk buying opportunity as it confirms the strength of the new uptrend.
FX:USOILLong
by SohailChaudhary
WTI turns sharply lowerCrude oil prices were over 3% higher this week, but as i mentioned in my previous post, the risks remained tilted towards the downside following a 9% drop the previous week. Lo and behold, WTI has now turned sharply lower after testing broken support between $71.50 to $72.50 area in the last couple of days. At the time of writing, it was back to the $70.00 level, which, if breached decisively, could pave the way for more losses in the days ahead. Middle East tensions have slightly stabilized as Israel has so far refrained from attacking Iran and has said it will not target its nuclear facilities. However, the situation remains volatile due to Israel’s ongoing operations in Lebanon, which has reignited concerns about disrupted oil supply. Meanwhile, the oil market is also cautious about a possible Trump victory in the US election, as his policy of boosting oil production could lead to oversupply and further price declines. by Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:USOILShort
by FOREXcom
USOIL Bullish 4h Divergence 1. Market Analysis: Asset: USOIL (WTI Crude Oil) Timeframe: 4-hour Pattern: Bullish divergence 2. Divergence Details: Bullish Divergence: A bullish divergence occurs when the price forms lower lows, but an oscillator like RSI or MACD forms higher lows, indicating a potential reversal to the upside. This signals that bearish momentum is weakening and a bullish reversal may be imminent. 3. Trade Setup: Entry Point: Enter a long position once a bullish candlestick closes and confirms the divergence on the 4-hour chart. Look for a strong confirmation candle, such as a bullish engulfing or a close above a short-term resistance level. Stop-Loss: Place the stop-loss below the recent swing low to minimize risk in case the trade goes against you. This placement will account for market volatility and protect your capital. Take-Profit: Identify key resistance levels for take-profit. You can aim for a favorable risk-reward ratio of 1:2 or higher, or target the next significant resistance level for oil prices. 4. Risk Management: Position Size: Calculate your position size based on your risk tolerance and the distance between your entry and stop-loss. Only risk a small percentage of your trading capital per trade (1-2%). Risk-Reward Ratio: Aim for at least a 1:2 risk-reward ratio, meaning if you risk 50 points on your stop-loss, your take-profit should be at least 100 points away from your entry. 5. Additional Confirmation: Volume: Ensure volume increases as the price moves upward to confirm strong buying interest and support the bullish divergence. Support and Resistance Levels: Check that the entry aligns with strong support zones, and plan to exit around resistance levels that align with the broader market trend. 6. Trade Execution: Place Orders: Set your buy order, stop-loss, and take-profit levels according to the plan. Monitor the Trade: Manage the trade by adjusting your stop-loss to break even or trailing it as the price moves in your favor. 7. Review and Adjust: Post-Trade Analysis: After the trade closes, review its outcome to learn from it. Reflect on how well the setup played out and what could be improved in future trades.
FX:USOILLong
by MAAwan