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WTI Holds 62 Support Ahead of Washington TalksFriday’s meeting in Alaska set the stage for a potential shift in U.S.–Russia relations. Putin’s terms, discussed privately, are expected to be presented today in Washington during talks between Trump, Zelensky, and EU allies toward a possible ceasefire. WTI’s latest drop is currently holding at the 0.618 Fibonacci retracement of the May–June uptrend, and precisely at the neckline of the inverted head and shoulders pattern around the $62 level. The Fibonacci retracement was applied from the $55 low to the $77.80 close, filtering out breakout noise beyond the upper border of the 3-year down trending channel. • If 62 breaks, downside risks may accelerate toward the mid-zone of the channel, with key levels in sight at 61.40, 59.40, and 55.20, respectively. • If 62.60 holds, and WTI reclaims ground above 65, we could see a recovery toward the upper edge with next resistance levels at 68.00, 70.00, 71.40, and 72.70. Written by Razan Hilal, CMT
FOREXCOM:USOIL
by FOREXcom
Hellena | Oil (4H): SHORT to support area of 61.937 (Fibo lvl).Hello, colleagues! Well, I think that the previous scenario is still relevant and the “ABC” correction is developing according to the scenario. At the moment, I see a five-wave structure in the downward wave “C”. I expect a small correction to the area of 67.287, then a continuation of the downward movement to the area between 61.8% and 100% of the levels of Fibonacci extension - the support area of 61.937. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
17
USOIL H4 | Potential bearish dropBased on the H4 chart analysis, we can see the price has rejected off the sell entry which acts as a pullback resistance that lines up with the 23.6% Fibonacci retracement and could drop to the downside. Sell entry is at 64.13, which is a pullback resistance that lines up with the 23.6% Fibonacci retracement. Stop loss is at 67.06, which is a pullback resistance that aligns with the 61.8% Fibonacci retracement. Take profit is at 60.05, which is a multi-swing low support. 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 (tradu.com ): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% 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 (tradu.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 Global LLC (tradu.com ): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to Tradu (‘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 Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
TRADU:USOILSPOTShort
by Tradu
USOIL rebounds from 6,300.0. Where next?USOIL rebounds from 6,300.0. Where next? USOIL bounced back from the 6,300.0 mark on Tuesday, building on slight gains from the prior session, after President Donald Trump prolonged a tariff truce with China for an additional 90 days. The decision, made just before new tariffs were due, provided temporary relief from rising trade tensions that might hinder global growth and energy demand. The modest rise towards SMA50 and 6,500.0 level is expected. Market participants will also be waiting for OPEC’s monthly report, along with US EIA and IEA forecasts, for fresh supply–demand signals.
FOREXCOM:USOILLong
by ProfessorSingapore
Crude Oil Weekly Outlook: Tariffs, Ceasefire, OPEC & CPI RisksKey Events This Week • WTI drops to 62.60 ahead of major geopolitical and economic catalysts: Ukraine ceasefire, U.S.–China tariffs, OPEC report, and U.S. CPI • Global tariff developments continue to shape sentiment and crude demand valuations, especially in relation to OPEC’s evolving supply strategy WTI’s latest drop is currently holding at the 0.618 Fibonacci retracement of the May–June uptrend, and precisely at the neckline of the inverted head and shoulders pattern around the 62.60 level. The Fibonacci retracement was applied from the $55 low to the $77.80 close, filtering out breakout noise from the Iran–Israel escalation outside the borders of the 3-year down trending channel. • If 62.60 breaks, downside risks may accelerate toward the mid-zone of the channel, with key levels in sight at 61.40, 59.40, and 55.20, respectively. • If 62.60 holds, and WTI reclaims ground above 65, we could see a recovery toward the upper edge with next resistance levels at 68.00, 70.00, 71.40, and 72.70. Written by Razan Hilal, CMT
FOREXCOM:USOIL
by FOREXcom
WTI Crude Oil Analysis – Is a Major Wave 3 About to Begin?🛢 WTI Crude Oil Analysis – Is a Major Wave 3 About to Begin? 🚀 According to Elliott Wave count, it appears that the corrective Wave 2 has either completed or is in its final stages. The (ABC) corrective structure, combined with reactions to key Fibonacci levels, suggests a potential end to the correction and the start of a powerful Wave 3. Key Fibonacci Support Levels: 📍 $60.39 – 50% retracement 📍 $58.84 – 78.6% retracement As long as price holds above these levels, the bullish structure remains intact, with the ultimate target for Wave 3 projected well above the previous all-time highs. 💬 What’s your view? Is crude oil ready for a historic move, or is there still room for more correction? ✅ Save this idea & follow for future updates. ------------------------------------------------------------------------------------------------------------------- 🚀 Who am I? I'm Mahdi, a prop firm trader with 7+ years of experience in technical analysis, mainly focusing on Smart Money Concepts and Elliott Wave theory. I specialize in delivering high-quality trading signals, market insights, and educational content tailored for serious traders and investors. 📊 My Tools: SMC, Elliott Wave, Fibonacci, Liquidity Grabs, Order Blocks 💼 Prop Challenge Passed: Yes | Funded Account: In Progress 🔗 Follow for consistent updates and trading insights.
BLACKBULL:WTILong
by mahdiomidi
WTI OIL on its first 1D Death Cross since Sep 2024!WTI Oil (USOIL) is on the decline and is about to form a 1D Death Cross for the first time since September 06 2024! That is technically a bearish signal but last time once completed, the market formed a bottom 2 days later. As a result, we expect a max drop to Support 1 ($60.05) but then more likely a rebound back to the Resistance ($71.40), especially given the fact that the 1D RSI will almost get oversold (>30.00). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TRADENATION:WTI
by TradingShot
1
WTI(20250808)Today's AnalysisMarket News: ① Trump nominated Stephen Milan, Chairman of the White House Council of Economic Advisers, to serve on the Federal Reserve Board, with a term ending January 31, 2026. ② Waller is reportedly a leading candidate for the next Fed Chair. ③ U.S. Treasury Secretary Bensont stated that the interview process for the Fed Chair has begun. ④ Bostic stated that the July jobs report did change the Fed's outlook on its employment goals. Technical Analysis: Today's Buy/Sell Levels: 63.55 Support and Resistance Levels: 64.86 64.37 64.06 63.05 62.73 62.24 Trading Strategy: If the price breaks above 63.55, consider entering a buy position, with the first target price being 64.06. If the price breaks below 63.05, consider entering a sell position, with the first target price being 62.73.
NYMEX:CL1!Short
by NicolaZhu
USOIL declines on possibility of geopolitical stabilityUSOIL declines on possibility of geopolitical stability Crude oil and gasoline prices fell August 6 after an early rally, as Trump announced "great progress" in U.S.-Russia talks to end the Ukraine war, reducing fears of new sanctions on Russian energy exports. Additionally, OPEC+’s planned 547,000 bpd production increase for September further pressured prices amid concerns of a global oil supply glut. Technically, USOIL broke crucial local support at 6,500.00. Currently, the price is retesting this level. The decline towards 6,300.00 is expected in short-term.
FOREXCOM:USOILShort
by ProfessorSingapore
WTI(20250806)Today's AnalysisMarket News: The US non-manufacturing PMI fell to 50.1 in July from 50.8 in June, below the expected 51.5. The ISM New Orders Index fell to 50.3 in July from 51.3 in June, with export orders contracting for the fourth time in five months. Technical Analysis: Today's Buy/Sell Levels: 64.90 Support and Resistance Levels: 66.21 65.72 65.40 64.40 64.08 63.59 Trading Strategy: On a break above 64.90, consider a buy entry, with the first target at 65.40. On a break below 64.40, consider a sell entry, with the first target at 64.08
NYMEX:CL1!Short
by NicolaZhu
WTI quick update. Will we see that 65-dollar break?After OPEC+ meeting, where a promise was made to increase production in September, WTI continues to slide. Let's dig in. MARKETSCOM:OIL TVC:USOIL Let us know what you think in the comments below. Thank you. 75.2% 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. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
MARKETSCOM:OIL
by Marketscom
Hellena | Oil (4H): SHORT to support area of 65.944.Colleagues, I previously recommended moving trades to break-even, and for good reason. It is always necessary to hedge and reduce losses—this is part of professional work. (Breakeven=Risk Free: Move Stop loss to the entry level). The price has nevertheless shown a stronger correction, and I now believe that the medium-term “ABC” waves have not yet formed, nor has the large “Y” wave. This means that I expect the completion of wave “B” and then a continuation of the downward movement in wave “C.” I consider the support area of 65.944 to be the minimum target. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
10
WTI(20250805)Today's AnalysisMarket News: Goldman Sachs: We expect the Federal Reserve to cut interest rates by 25 basis points three times starting in September; if the unemployment rate rises further, a 50 basis point cut is possible. Technical Analysis: Today's Buy/Sell Levels: 65.85 Support/Resistance Levels: 67.97 67.18 66.67 65.04 64.53 63.74 Trading Strategy: If the market breaks above 65.85, consider buying, with the first target at 66.67. If the market breaks below 65.04, consider selling, with the first target at 64.53.
NYMEX:CL1!Short
by NicolaZhu
How long can the decline in US crude oil prices last? 💡Message Strategy On Monday (August 4) during the Asia-Europe session, WTI fell for three consecutive days, with a drop of 1.16% today, trading around 66.55. OPEC+'s decision to increase production, coupled with geopolitical and economic policies, has jointly formed the expectation that oil prices will be "weak and volatile, dominated by downward pressure." Short-Term: Increased Supply Drives Price Decline OPEC+'s decision to increase production directly led to further declines in oil prices on Monday (Brent crude fell 0.28% to $69.23/barrel, and WTI fell 0.46% to $67.01/barrel), extending Friday's decline. Market expectations of oversupply reinforced bearish sentiment, particularly as the UAE's additional production increase (accounting for 2.4% of global demand) further amplified the signal of easing supply. However, India's announcement to continue purchasing Russian crude oil partially offset the impact, limiting the price decline and failing to shift the short-term downward trend. Medium-Term: Supply-Demand and Policy Risks Intertwine On the Supply Side: OPEC+'s production increase plan may be paused after September, as Goldman Sachs anticipates accelerated OECD inventory accumulation and fading seasonal demand support. However, if US shale oil production is forced to cut production at break-even points due to low oil prices, OPEC+ may adjust its strategy and even consider further releasing the remaining 1.66 million barrels/day of production capacity, which would continue to suppress oil prices. Long-Term: Market Share Competition and Structural Overcapacity OPEC+'s production increase strategy aims to reshape the global oil landscape by squeezing out high-cost producers, such as US shale oil, through low prices. Due to rising equipment costs driven by tariffs and low oil prices, US shale oil companies have cut capital expenditures, resulting in a decline in the number of active drilling rigs and a slowdown in production growth. This strategic game is likely to keep oil prices in a low range for a long time, with significant long-term downward pressure. Unity within OPEC+ and coordination between Saudi Arabia and the UAE will be key to policy implementation. 📊Technical aspects Crude oil's short-term (1H) trend has reversed downward from its highs. The moving averages are diverging and aligning downward, indicating a downward trend in the short term. The K-line chart has continued to close with small real bodies, and the MACD indicator is about to form a golden cross near the zero axis, signaling weakening downward momentum and a bullish bias on pullbacks. Crude oil is expected to remain weak and downward today, with a potential correction near $65.00.
TVC:USOILLong
by TheodoreSilas
USOIL declines for the 3 days in a row. What's next?USOIL declines for the 3 days in a row. What's next? Since the last post the USOIL has already declined on 2.5%, currently rebounding from SMA50 on 4-h chart. 2 main reasons are behind this. On August 3, the Organization of the Petroleum Exporting Countries and their partners, collectively known as OPEC+, decided to increase oil production by 547,000 barrels per day in September, the latest in a series of swift production boosts aimed at regaining market share. They cited a robust economic outlook and low inventories as the reasons for their decision. However, Friday NFP report may signal of a potential recession risk in the United States, the biggest oil consumer in the world. Here is what the Goldman Sachs writes down in x.com: "The decline in employment growth over the previous two months in the July report was one of the largest since 1960 and was accompanied by several months of similar revisions earlier. Corrections of this magnitude are extremely rare outside of the recession period." So, fundamentals don't favor oil and despite the current rebound from SMA50, there are low chances of developing some bullish momentum here. The pullback from 6,800.00 is expected with the following decline towards 6,500.00
FOREXCOM:USOILShort
by ProfessorSingapore
9
WTI: downside potentialHi traders and investors! This analysis is based on the Initiative Analysis concept (IA). Weekly timeframe A buyer initiative is tentatively developing, yet the strongest buyer candle (highest volume) produced no follow-through. It was followed by two buyer candles on weak volume. Last week volume expanded again and clustered around 69.975, showing that sellers are still defending this level. Weekly seller targets: 65.628 and 64.378. Daily timeframe Sellers remain in control. The chart clearly shows volume manipulation around 69.975. Daily seller targets: 65.628 and 64.736. Wishing you profitable trades!
OANDA:WTICOUSD
by AlexeyWolf