USOILHi guys, In this chart i Found a Supply Zone in USOIL CHART for short entry, Observed these Levels based on price action and Demand & Supply. *Don't Take any trades based on this Picture. ... because this chart is for educational purpose only not for Buy or Sell Recommendation.. Thank you Shortby Giriraj_R1
CFDs on WTI Crude oil UP to 80$Hello, We've identified a current opportunity to buy CFDs on WTI Crude oil with a high probability and a favorable risk-reward ratio in the Daily chart. Our target is $80 in this week (Swing trade). IbrouriLongby Abdessamadibrouri1
USOIL Hitting $93 in Two Months!Return to Upward Channel and previous resistance - become now bottom support. After return to channel we have Summer natural high to support pure lambo mode... Longby cowboycraig1
USOILAfter 7wks plus of waiting and even taking a loss now this guy seems to be respecting setup. in a couple of days our first TP should be hit. VHT YOUR MENTOR SIGNING OUTLongby Victor_Hunter_Turner1
USOIL-Trend Analysis Oil, yesterday's lowest point was around 77.55, and the highest point was around 80. The main reason for yesterday's rise was the strike in Brazil and the closure of pipelines in Ecuador due to weather, which reduced a total of 450,000 barrels/day. Oil encountered resistance at 80 yesterday and rebounded from 72.4. The current high resistance is 80.6. According to my opinion, oil may continue to rise to around 81-82, but my view is still short. According to the current trend of oil, I think it will break through 80.6 and reach a certain range before continuing to fall. Therefore, you can buy around 78.5-79 today, set SL, and control your position. The general direction is to wait for oil to break through 80.6, and then place a sell order according to the market. My long-term target price is still 72-70 The above strategies are for your reference, but the market changes quickly, and you need to change your strategies in real time according to the trend, so that your success rate will increase. I will analyze the trend and strategy of gold every day, follow me and join meby Colin_Analyst3
USOIL longUSOIL Trading Analysis and Strategy Entry Price (EP): $77.85 Reason: Through the latest market trend analysis of USOIL, we can see the overall market trend from the 1day, 4hour, and 1hour charts. The 1day chart shows the market's overall trend, and the 4hour chart confirms the trading trend. The 1hour chart presents a short term short entry, stop loss, and take profit signals. We will wait for the reversal signal on the 1hour chart. Based on RSI Divergence data, the entry price is determined to be $77.85. Stop Loss (SL): $76.62 Reason: Stop losses are calculated using ATR data,providing a margin of safety to limit potential losses if the market moves against the position. Target Price (TP): $79.03 Reason: The take profit target is set based on ATR data analysis and market trend prediction, aiming to obtain potential profits from expected price changes. Profit Potential in: $1.18 (11.80usd/lot) Please note that Forex trading involves risks and the analysis provided is based on the information available. Market conditions can change rapidly, so it is important to stay current and consider implementing risk management strategies. It is crucial to monitor the market closely and adjust your trading strategy accordingly.Longby Tracyanalyst1
USOIL Potential Downtrend Line Breakout At $78.21. 11.06.2024Potential downtrend line breakout in USOIL 1hr chart at $78.21. If breakout holds: Target 1: $79.78. Target 2: $81.78 if $79.78 is broken. If breakout fails: Target 1: $76.97. Target 2: $76.00 if $76.97 is broken. Apply Risk Management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350) DisclaimerLongby BDSwiss_Academy1
OIL MAP FY24-25 : GUNS BLAZING, RIGS BLOWING, OCEAN BURNINGthis post is meant to be a refresher for the dedicated analysts Can you imagine the ocean on fire like in that one Simpsons episode Honestly this is just for the conspiracy gang (are we still saying gang?) Anyways biden manipulated my last forecast but he cant fight supply and demand 4ever unless he backed by some super market maker power that wants a certain war to take place as they expand their nations territory while ruining relations with the world... Assuring him if oil prices are affected we will roll in a trillion and supply based propaganda to short it no biggie that is what i suspect if im wrong again that said as each zone breaks im expecting headlines of the sorts i heard people like to stalk the barrels notica how they are showing dark lining inside the circles showing they are no filled around plains all american www.google.com Longby Bekiumuzi_DubeUpdated 2
OIL is testing a strong resistance zone. Be careful OIL is testing a strong resistance zone. Be careful of any bearish moves From the previous analysis, OIL moved down from the megaphone pattern pointing down for a bigger bearish wave. The price is already testing the base of the pattern indicating the possibility that it could go lower again. This is just the beginning and should confirm the bearish movement and it is not a mus that it will move down. You can pay attention to this area as oil may resume the bearish trend again. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️ Shortby KlejdiCuni2214
USOIL Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring USOIL for a buying opportunity around 73.90 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 73.90 support and resistance area. Trade safe, Joe.Longby JoeChampion13
OIL: Day 3 breakout trades long in the market, NFP week!Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range Tuesday DAY 2 Initial Balance Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 Friday DAY 3 Closing Range ✅ no daily cycle 2. SIGNAL DAY First Red Day First Green Day 3 Days Long Breakout ✅ 3 Days Short Breakout Inside Day 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside Backside ✅ 4. THESIS: Long: primary, day 3 long in the market, OIL looks like coiling for an explosive move. After NFP I will looking for a buy low dump and pump back either the HOW, or the breakout NY session of monday (see the green line) Short: secondary, not really interested in short this market, unless a scalp third hour NY session HOD to LOD Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni Longby GianniPichicheroUpdated 226
USOILUSOIL is in strong bearish trend. As the market is consistently printing new LLs and LHs. currently the market is retracing a bit after last LL, which is 50% Fib retracement level and local support as well. if the market successfully sustain this selling confluence the next leg lower could go for new LL. What you guys think of this idea?by JustTradeSignals1
USOIL - Heading Lower Looks like that little bounce was a short covering shakeout and now the dominant trend has resumed to the downside 🧐. Not advice.Shortby dRends35Updated 8
USOIL ALREADY REACHED TARGET Hey there on 4hTF the USOIL AFTER and before looking for Target Achieved Successful done So will see further downside from 76.50 Shortby DvsTraderfirm1
USOIL ( BREAKING TURNING LEVEL )USOIL Tendency the price is a long in 76.23 Turning level : The turning 76.23, so as long as the price trending above this level, there will be a bullish trend resistance level : trade above 76.23 , the price will up to 78.93, and stable this level up to 80.80 and 82.88 support level : braking a turning level 76.23 , and stable this level ,the price will reach the support level of 74.57 and 72.27 corrective level : price will attempt 76.23 ,correct itself before long Longby ArinaKarayi2
USOILUSOIL is respecting its downtrend channel with a reason that OPEC+ (Organization of the Petroleum Exporting Countries and allies) is considering phasing out production cuts by the end of 2025. This increased supply could put downward pressure on prices, and also a potential global economic slowdown could dampen demand for oil, leading to lower prices, lets monitor. Shortby abidhaider2
USOIL - Start of a corrective rally??FX:USOIL looks to have created a short term low just below 7300. Im now looking at a rally so watching this PB going into Monday for a potential move back up towards 78-80. Watching for 7400-7480 on Monday to hold for the next move higher. Enjoy the week. More updates coming. Longby L_FUpdated 229
USOIL ANALYSIS (SHORT) (11/06/24)Pretty self explanatory and simple. Using the bias (Bearish) I simply mapped out the last area which created a significant break. Within this area - price should gear towards the demand zone below - however I do acknowledge that price had already reached demand in an earlier period and therefore if price breaks through the POI (For which there will be potential to do so - due to upper imbalance found on a bigger TF), I would seek for an entry point allowing me to ride out the buy. Shortby saintprincevvs3
OIL demand in controlRetail traders have been faked by a gap in oil prices, exactly into a daily demand zone, which the big players may use to take price higherLongby EquilibriumTradingAlexMOUpdated 334
USOIL PULLBACK BEFORE ANOTHER DIP#USOIL As predicted last time, we observed a significant drop following the breakout identified in the bullish channel. Currently, we see consolidation, a bearish impulse, and now a pullback. We anticipate another downward movement once the current bullish impulse concludes. This is expected to retest the recent lows near the major demand zone previously highlighted.Shortby traderchamp_3
OPEC Secretary-General Affirms Resilient Oil Demand OPEC Secretary-General Affirms Resilient Oil Demand OPEC Secretary-General Haitham Al-Ghais stated at the St. Petersburg International Economic Forum on Thursday that oil demand remains resilient. "It's crucial to stay focused on the fundamentals," he emphasized. "Economic growth, supply, and demand are what drive our decisions." Al-Ghais noted that global demand increased by 2.3 million barrels per day in the first quarter, typically the weakest quarter due to global refinery maintenance. He anticipates continued strong demand in the coming months, particularly with the uptick in summer travel. Saudi Energy Minister Dismisses Bearish Response to OPEC+ Deal, Confident Market Will Adjust Saudi Energy Minister Prince Abdulaziz bin Salman dismissed the market's bearish reaction to OPEC+'s decision to gradually phase out voluntary output cuts, expressing confidence that the market will adjust. "Give it a day or two, reality will set in," he stated at the St. Petersburg International Economic Forum on Thursday. He criticized some banks and media outlets for their narratives around the meeting and reaffirmed that OPEC+ made the right decision. "I know that we did the best job," he asserted. The OPEC+ meeting initially triggered an oil selloff, exacerbated by short selling and movements in the options market, as traders worried about potential oversupply. However, Abdulaziz emphasized that OPEC+ retains the flexibility to pause or reverse production increases based on market conditions. OIL OUTLOOK Oil prices increased early as we mentioned, recovering from a four-month low, which was the lowest point since February. This drop was attributed to an unexpected surge in U.S. stockpiles, indicating softer demand than anticipated. Technically: The price has stabilized within the bearish zone, having already corrected the previous barrier which is 75.39. This suggests a continuation of the bearish trend, with potential targets at 72.500 and 70.570. A further break below 72.500 could lead the price down to 70.570. Conversely, if the price stabilizes above 75.400, it may indicate a bullish trend, potentially reaching up to 78.070. Pivot line: 75.390 Support lines: 72.50, 70.57, 68.12 Resistance lines: 76.80, 78.07, 79.35 The movement range will be between support 70.57 and Resistance 76.80 previous idea: Shortby SroshMayi7
WTI rises to test key resistanceCrude oil prices rose on Monday, making back its losses from Friday and some. While there is hope for increased fuel demand as we head to the summer months, today’s recovery comes on the back of a three-week drop. Prices have been held back in recent weeks because of various factors, ranging from concerns over increased non-OPEC supply and worries about the demand outlook, due, among other reasons, to diminished hopes over imminent US interest rate cuts. The strong dollar recovery is also weighing on sentiment in the oil market. But with prices shedding more than 10% from their April highs, the bulls feel the downside could be more limited moving forward. However, a revisit of last week’s lows of around $72.50 on WTI remains the more probable outcome than a sharp recovery. Key macro events in this week include US inflation data and the Federal Reserve’s rate decision on Wednesday, both of which could significantly impact the US dollar and, consequently, buck-denominated commodities like gold and oil. Oil prices closed off well off the lows last week The crude oil selling resumed on Friday after a two-day pause. While the losses were milder than earlier in the week and less severe than the drop in metals, this was due to a strong jobs report and positive services PMI data that alleviated fears of weakening demand in the US. Nonetheless, concerns over China persisted, leading to lower prices for the week. Investors were also spooked by the sell-off in other commodities like copper and silver. The selling on oil was also driven by speculative long positions being pared last week by managed funds and large speculators. Not only that but they also increased their short positions last week, resulting in a decrease in net-long exposure. According to positioning data from the CFTC, managed funds increased their short positions by 27.2k contracts, while large speculators increased theirs by 22.1k contracts (21.9%). This positioning data reflects the market response to OPEC's decision to extend oil production cuts. It suggests that traders either anticipated more aggressive support for prices from OPEC, are concerned about declining demand due to a slowing economy, or likely a combination of both factors. Why did all major commodities fall on Friday? The sharp fall in major commodity prices on Friday was driven by a rally in the US dollar, which negatively impacts dollar-denominated commodities. This rally was triggered by stronger-than-expected jobs growth, even though part-time jobs contributed to this increase. Metals were already under pressure prior to the jobs report due to concerns over lower-than-expected Chinese demand for industrial metals and rising copper stockpiles. Additionally, the People’s Bank of China halting its gold purchases in May after an 18-month streak also pressured precious metals, contributing to bearish sentiment in the commodities market. What has been driving oil prices recently? Oil prices have been primarily driven lower by demand concerns and an increase in non-OPEC supply. According to the International Energy Agency (IEA), there is a significant surplus of oil this year, largely due to the growth in US shale production. Consistently weak manufacturing data worldwide has heightened demand concerns. This was particularly evident when crude oil prices dropped to their lowest level since February following weak US factory data. The OPEC+ decision to extend output cuts failed to support oil prices as it was already priced in, and there are worries about phasing out voluntary output cuts amid rising non-OPEC supply. However, with the US driving season underway, demand might pick up, potentially slowing or reversing the sell-off. Currently, no strong bullish reversal signs have been observed, however, which means the short-term path pf least resistance on oil remains to the downside. Crude Oil Technical Analysis The recent drop in oil prices has established a clear resistance level between $76.00 and $76.50 on WTI, which was tested and held on Friday. This will be a crucial resistance area to monitor in the coming week. As long as prices remain below this zone, the bearish trend is expected to continue. There was an oversold bounce last week, but a decline towards the support trend of the bearish channel, around the $73.00 mark or slightly below, is possible this week. WTI has been stuck in a bearish channel since peaking in April. The next major support level below the bearish channel is at $70.00, followed by the December low at $67.87. However, if WTI were to reclaim the old broken support area between $76.00 and $76.50, it could signal a bullish trend, potentially leading to technical buying towards the top of the bearish channel, between $78.00 and $79.00. Written by Fawad Razaqzada, market analyst at FOREX.com Follow me on twitter: x.com by FOREXcom1