OILUSD – Testing 61.71, Next Support at 59.86WTI Crude extended its bearish move after rejecting the 64.57 resistance zone. Price is now testing the 61.71 support, and a breakdown here could open the way toward the 59.86 zone.
Support at: 61.71 / 59.86 🔽
Resistance at: 63.09 / 64.57 🔼
🔎 Bias:
🔽 Bearish: A clear break below 61.71 exposes 59.86 as the next target.
🔼 Bullish: Holding above 61.71 and reclaiming 63.09 would suggest a possible rebound toward 64.57.
📛 Disclaimer: This is not financial advice. Trade at your own risk.
CLOIL trade ideas
01-09-2025 USOIL The market is not always chaotic and disorderly, and there is a precise geometric beauty hidden in price fluctuations. The harmonic form long strategy is a powerful tool for accurately identifying potential market reversal points based on the Fibonacci ratio. When the form forms perfectly at the key support level, it often indicates the depletion of bearish momentum and the initiation of bullish trends.
As shown in the figure: 15M Bullish Bat
USOIL (WTI Crude) – Buy & Sell Trade Scenarios🔵 Bullish Scenario (Buy Call)
Entry Zone: Break and sustained close above 65.20 – 65.50 (current 4H resistance).
Reasoning:
Price has retested the 64.90 resistance cluster multiple times, suggesting absorption of supply.
Volume shows declining sell pressure near resistance – a sign of potential breakout.
A breakout with strong volume confirms buyers stepping in.
Target 1: 66.75 (measured move into next liquidity pool).
Target 2 (extended): 68.20 – 68.50 (previous structural pivot).
Stop Loss: Below 64.20 (false breakout protection).
R:R Potential: ~1:2.5 to 1:3
🔴 Bearish Scenario (Sell Call)
Entry Zone: Rejection at 65.00 – 65.50 resistance with bearish confirmation candle.
Reasoning:
This zone has acted as a strong supply area since mid-August.
Multiple wicks rejecting the level + increasing sell volume hint at distribution.
If price fails to close above resistance, sellers regain control.
Target 1: 63.00 – 63.20 (mid-support range).
Target 2 (extended): 62.00 – 61.90 (major support zone).
Stop Loss: Above 65.70 (wick protection).
R:R Potential: ~1:2 to 1:3
⚖️ Key Technical Takeaway
64.90 – 65.50 = Pivot zone (battle between bulls and bears).
Breakout + volume = bullish continuation to 66.75+.
Rejection + heavy volume = bearish rotation back to 62.95.
Crude holds range ahead of key OPEC+ MeetingOil prices steadied after falling in August, with West Texas Intermediate trading near $64. Markets remain pressured by oversupply concerns from OPEC+ and forecasts of a record surplus next year. Attention is on the Sept. 7 OPEC+ meeting, where restoring 1.65 million barrels a day of voluntary cuts will be debated. The US is pushing India to stop Russian oil imports, threatening secondary tariffs, while Prime Minister Modi defended ties with Moscow during a meeting with Putin in China, arguing Russian flows helped stabilize global prices. Despite some opportunistic US purchases, Indian refiners continue buying Russian crude. Meanwhile, hedge funds cut bullish bets on US crude to an 18-year low, reflecting oversupply fears and economic uncertainty.
On the technical side, the price of crude oil has been moving sideways last week and seems to be in the same situation this week if no major events take place. The combination of the 50 and 100-day simple moving averages, as well as the upper band of the Bollinger bands, is currently acting as the major resistance area around $65. TheBollinger bands are quite contracted, showing that volatility has dried up, further supporting the sideways movement in the upcoming sessions. The Stochastic oscillator is near the extreme overbought levels, but this has little to no significance since there is no volatility to support any major corrections. The Fibonacci levels are the short-term support area around $63, and the upper band of the sideways channel might be seen around $65, as mentioned.
Disclaimer: The opinions in this article are personal to the writer and do not reflect those of Exness
Crude oil retraces, but has a limited potentialCrude oil is moving in a technical upswing, transitioning to the cycle of retracement. The next resistance area would be located at around the $65-66 price area, as the downtrend is still intact. Volatility (ATR) for Crude oil has reached the level of March 2025: the lowest level of the year. That brings the beginning of either a broader breakout or a new wave of selling closer.
According to seasonal charts, Crude oil might get under pressure in October, while September usually delivers a sideways action, especially if there are no related drivers and navarres.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
WTI 4HTrading Outlook for Major Currency Pairs and Indices, Especially Gold and Silver, in the Upcoming Week
In this series of analyses, we have reviewed short-term trading perspectives and market outlooks.
As can be seen, each analysis highlights a key support or resistance area near the current price of the asset. The market’s reaction to or break of these levels will determine the subsequent price trend up to the next specified levels.
Important Note: The purpose of these trading outlooks is to identify key price levels and potential market reactions, and the analyses provided should not be considered as trading signals.
CRUDE OIL Short From Resistance! Sell!
Hello,Traders!
CRUDE OIL made a retest
Of the horizontal resistance
Of 65.00$ from where
We are already seeing a
Bearish reaction and we
Will be expecting a
Further bearish move down
Sell!
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Crude oil strategy analysisCrude Oil News
The US S&P Global Composite PMI hit an eight-month high in August, prompting traders to reduce their bets on two Federal Reserve rate cuts this year. This eight-month high (assuming the initial composite PMI exceeds expectations) directly reflects the expansion of the US manufacturing and service sectors. This, coupled with increased activity in crude oil consumption scenarios like industrial production and freight logistics, provides substantial support for domestic crude oil demand. While this "reduced bet on rate cuts" may slightly strengthen the US dollar, the increased demand driven by economic resilience is more directly positive for crude oil.
The US and Europe have officially finalized the framework for their trade agreement. The implementation of the US-EU trade agreement will stimulate bilateral trade (e.g., increased cross-border transport of industrial and consumer goods). Increased air, sea, and road freight volumes will directly boost fuel demand. Furthermore, the agreement will drive industrial production expansion in both the US and Europe, increasing manufacturing energy consumption (including downstream crude oil products). This will improve global crude oil demand expectations and benefit oil prices.
Crude Oil Indicator Analysis
Oil prices have experienced a slight correction since yesterday's surge. While the MACD indicator has formed a golden cross and the red momentum bar has increased, it is still hovering near zero, indicating a volatile bull-bear equilibrium. Furthermore, the RSI is nearing overbought territory and is experiencing a pullback, suggesting that the 64.5 level is facing some pressure, suggesting further short-term declines.
Strategy
Previously, I suggested opening two short positions at resistance levels: one at 64.5 and then increasing the number of short positions near 65. The market peaked near 65, holding resistance, and the market gradually retreated, capturing all the profits. This was a very accurate prediction of this trend in crude oil.
As crude oil approaches 64, consider opening a bearish short position.
USOIL - OutlookAreas of interest marked on 4H.
If price drops to the discount zone, always wait for confirmation as it could go either way. (Momentum is our friend)
Avoid yellow zone.
Red zone speaks for itself, we do have EIA inventory data releasing later tonight. I would keep an eye on that for incoming volatility.
NFA
Crude oil prices are about to start fallingPreviously, market volatility increased due to news reports: Trump's direct dismissal of Federal Reserve Board Governor Tim Cook. This move undoubtedly undermined the Fed's independence. Historically, such incidents have undoubtedly put immeasurable pressure on currencies. The US dollar index plummeted in response, and gold prices followed a V-shaped trend, retracing to the 3351 level as expected and then rising to around 3386 before fluctuating and correcting. The current low is 3367, which is also the entry point for long positions we shared with you. This entry point can be entered twice, and both times it reached the target above 3380.
Crude oil fell rapidly from around 64.7, initiating a short-term correction today. The daily K-line has been rising for several consecutive days, indicating the need for a short-term correction.
Strategy
Open a short position if crude oil rebounds to 64.5. If it continues to rebound to around 65, increase the short position.
The target is around 63.
Crude Oil (WTI / USOIL) Technical AnalysisThe price of oil is currently in a downward trend on both the daily and hourly timeframes, and it is testing a support zone at $63.50.
🔹 Bearish Scenario:
If the price breaks the $63.50 support level and holds below it, we may see a target of $63.00.
🔹 Bullish Scenario:
If the price returns to break above $63.90 and holds, this could push the price toward $64.50 as an initial target, followed by a retest of $65.00.
WTI Steadies as Rate-Cut Bets and Supply Risks CollideWTI Steadies as Rate-Cut Bets and Supply Risks Collide
WTI crude hovered around $64 on August 25, steady after last week’s gains as traders balanced U.S. rate-cut expectations with geopolitical risks. The Fed is seen 85% likely to cut rates in September, boosting demand outlooks.
Supply concerns persist after Washington threatened 50% tariffs on Indian imports over Russian oil purchases, while India signaled it will keep buying from Moscow. Stalled Russia-Ukraine talks and renewed attacks on energy infrastructure add to uncertainty.
OILUSD Testing 64.576 ResistanceWTI Crude Oil rebounded from the 61.717 support zone and is now pushing into the 64.576 resistance area, where sellers previously stepped in.
Support at: 63.090 | 61.717 | 59.869 | 55.451
Resistance at: 64.576 | 66.280 | 70.265 | 75.329
🔎 Bias:
Bullish: A breakout above 64.576 could fuel momentum toward 66.280.
Bearish: Rejection here may lead to a retest of 63.090 and possibly 61.717.
📛 Disclaimer: This is not financial advice. Trade at your own risk.
WTI4H In this series of analyses, we have reviewed trading perspectives and short-term outlooks.
As can be seen, in each analysis there is a key support/resistance zone close to the current asset price, and the market’s reaction or breakout at this level will determine the next price trend toward the specified targets.
Important note: The purpose of these trading perspectives is to highlight significant levels ahead of the price and potential market reactions to these levels. The provided analyses are by no means trading signals!
CRUDE OIL Pullback Ahead! Sell!
Hello,Traders!
CRUDE OIL is etching closer
And closer towards the
Horizontal resistance of 64.60$
So as we are bearish biased
We will be expecting a local
Pullback on Monday
After the retest
Sell!
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USOIL: Strong Bearish Sentiment! Short!
My dear friends,
Today we will analyse USOIL together☺️
The recent price action suggests a shift in mid-term momentum. A break below the current local range around 63.81 will confirm the new direction downwards with the target being the next key level of 63.10 and a reconvened placement of a stop-loss beyond the range.
❤️Sending you lots of Love and Hugs❤️
USOIL Is Going Down! Sell!
Please, check our technical outlook for USOIL.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 63.760.
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 63.300 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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US Crude oil Spotits neo wave alternative count for wave 1 of wave C in lower degree and it wave C of Wave 2 or Wave A let see. Earlier posted little different wave 1 count and wave 2 count for wave C let see which one fit as in progress . In both case near $67 is invalidation point. Also bearish gartley and other harmonic pattern developed which I shown in charts in previous post. I am not SEBI registered analyst and its not buy , sell and hold recommendation and having position in it in mcx.