EXPECT A BULLISH MOMENTUM SOON ON WTIPrice is forming a falling wedge pattern on WTI and I anticipate a quick turnaround in price. Technically, a buy opportunity is envisaged from the current market price. Target profit is at $64.8 per barrel.
CLOIL trade ideas
Crude Oil Analysis (WTI / USOIL)
Crude oil prices are currently trading near a key resistance area at $63.30, with the overall trend still bearish, awaiting today’s crude oil inventory report.
🔻 Bearish Scenario:
If the price breaks below $62.60 and holds, it may target the $62.00 level, which could act as a potential rebound area.
🔺 Bullish Scenario:
If the price regains momentum and breaks above $63.30 with a confirmed hold, it could retest the $64.30 level.
WtiIf price drops below 62.782 then the ending diagonal scenario will be canceled.
Let's see how wti prices to Crude inventory after couple of hours.
Market Analysis: WTI Crude Oil Struggles In RedMarket Analysis: WTI Crude Oil Struggles In Red
WTI Crude oil is also down and remains at risk of more losses below $62.00.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI Crude oil prices extended losses below the $65.00 support zone.
- A major bearish trend line is formed with resistance at $63.05 on the hourly chart of XTI/USD.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil, the price struggled to continue higher above $66.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $65.00.
There was a steady decline below the $64.50 pivot level. The bears even pushed the price below $63.50 and the 50-hour simple moving average. Finally, the price tested the $62.15 zone, and the price is now consolidating losses.
On the upside, immediate resistance is near the 23.6% Fib retracement level of the downward move from the $65.98 swing high to the $62.15 low at $63.05. There is also a major bearish trend line at $63.05 and the 50-hour simple moving average.
The main hurdle is $63.50. A clear move above the $63.50 zone could send the price toward the 61.8% Fib retracement level at $64.50.
The next key resistance is near $66.00. If the price climbs further higher, it could face sellers near $68.00. Any more gains might send the price toward the $70.00 level.
Immediate support is near the $62.15 level. The next major level on the WTI crude oil chart is near $61.20. If there is a downside break, the price might decline toward $60.00. Any more losses may perhaps open the doors for a move toward the $55.00 zone.
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USOIL LONG FROM SUPPORT
USOIL SIGNAL
Trade Direction: short
Entry Level: 62.65
Target Level: 68.77
Stop Loss: 58.58
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 1D
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
✅LIKE AND COMMENT MY IDEAS✅
WTI Crude downtrend capped at 6600The WTI Crude Oil is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the resistance, suggesting a further selling pressure within the downtrend.
Key resistance is located at 6600, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish rejection from 6600 could confirm the resumption of the downtrend, targeting the next support levels at 6200, followed by 6100 and 6000 over a longer timeframe.
Conversely, a decisive breakout and daily close above 6600 would invalidate the current bearish setup, shifting sentiment to bullish and potentially triggering a move towards 6710, then 6800.
Conclusion:
The short-term outlook remains bearish unless the pair breaks and holds above 6600. Traders should watch for price action signals around this key level to confirm direction. A rejection favours fresh downside continuation, while a breakout signals a potential trend reversal or deeper correction.
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Oil at Key Support – Bounce or Breakdown?Crude oil is trading around $66.94, showing a bearish correction after failing to hold above $69.05. The chart shows price respecting an ascending channel but currently testing its lower boundary. The recent drop signals weakening bullish momentum, and a confirmed break below the channel could accelerate selling pressure toward lower levels.
📈 Potential Scenarios
- Bullish Rebound: If price holds above the channel support (~$66.00–$66.50) and breaks back above $69.05, it may target $71.03 and possibly $72.00.
- Bearish Breakdown: A confirmed close below $66.00 can accelerate the downside toward $65.00, with extended targets near $63.50–$62.00.
📊 Key Technical Highlights
- Price rejected from the channel top and is now testing lower support.
- Key resistance zones: $69.05 (immediate), $71.03 (major).
- Key support zones: $66.00 (channel), then $65.00–$63.50 (breakdown targets).
- Momentum indicators show weakening buying pressure, favoring cautious trading.
🔑 Key Levels to Watch
- Resistance: $69.05 → $71.03 → $72.00
- Support: $66.00 → $65.00 → $63.50
🧭 Trend Outlook
- A short-term relief bounce is possible, but failure to reclaim $69.05 keeps sellers in control.
- Breaking below the channel would shift the overall outlook to bearish for August.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
XTIUSD Broken Major support and retesting currentlyXTI/USD has broken a major support level and is currently retesting it. The price is expected to resume its downward movement toward the next support zone. Upcoming news tomorrow may influence the market, so please trade with caution.
USOIL--SHORT--monthly,weekly, daily bearish
--expecting to fall towards blue monthly support
--entry and tp are as shown on chart
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.
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116 to be reached in november 2022Look how those fibonacci timezones (zone 2) are doing they're job
The next target is 98 hit march/22 (Topzone 3)
Followed by correction to 80 in may/22 (bottomzone 3)
and eventually we will make a new high aournd 116 in november 2022 (topzone 5)
Let's see if this works out guys, i'm curious
cheers
Crude Oil Analysis (WTI / USOIL)Crude oil is currently trading near a key resistance area around $64.00, with the overall trend still bearish.
🔹 Bearish Scenario:
If the price breaks below $63.60 and holds, it may target $62.80 followed by $62.00.
🔹 Bullish Scenario:
If the price manages to break above $64.58 and sustain the move, it could retest the $65.00 zone, and with continued bullish momentum, extend toward $66.30.
USOIL - Are we having a bullish preasure??Market has started to consolidate creating higher lows on the 1 hour. Is this a sign market might turn?
USOIL Long trade Risking 1% to make 1.6% ProfitTVC:USOIL Long trade, with my back testing of this strategy, USOIL is long.
This is good trade.
Don't overload your risk like Greedy gambler!!!
Be Disciplined Trader, what what you can afford.
Use proper risk management
Looks like good trade.
Lets monitor.
Use proper risk management.
Disclaimer: only idea, not advice
USoil ideaWe are waiting for our asset to reach our action zone, and based on the reaction, we’ll decide on our next moves.ALWAYS WAIT FOR A CONFIRMATION TO SEE IF THE PRICE VALIDATES THE ZONE.and you what is your vision of the EURUSD its interests me! i wait you in the commentar
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.
WTI , begging to see SKY WTI is now in weekly demand zone and brooked trend line,
shows that bad news is coming to the world !!!
Boring oil chartLately, the oil chart has been really ugly, and it seems like it doesn’t even know what it wants to do. The candles move like a turtle, mainly due to the strong fundamentals behind oil prices. Honestly, I’ve come to the conclusion that there probably needs to be a war in the Middle East or an oil pipeline leak for the price to finally move, otherwise this chart is just completely dead on its own.
Fundamental + Technical Confirm Bullish TrendWhen news, insider positioning, and the weekly chart all align, I pay close attention and so should you.
Crude oil has built a strong bullish structure on the weekly timeframe, breaking above key resistance levels and holding higher lows. The recent OPEC+ decision to maintain a -2MM bbl/d production cut, combined with CEOs and major oil traders buying aggressively at every dip, provides strong fundamental confirmation of this trend.
In the U.S., gas prices are already trending upward which is another clear signal that the market is pricing in tighter supply and stronger demand.
From a technical perspective, price has cleared the 50% Fibonacci retracement and is now targeting the $77.50 zone in the short term. The medium-term projection sits near $90, with potential for higher if supply constraints persist. Pullbacks into support zones could present attractive re-entry opportunities for swing and position traders.
Bias: Bullish
Targets: $77.50 (short-term)
Chart: Weekly timeframe
If you agree with this outlook, drop your thoughts below or share this idea with others.
USOIL: Eyes on 64.10 as Geopolitics Take Center Stage!!In today’s session, we’re watching USOIL for a potential short setup around the 64.10 zone. Price action remains in a broader downtrend, with the current move looking like a corrective retracement into a key support turned resistance area.
From a fundamental perspective, all eyes are on the scheduled August 15 meeting between Donald Trump and Vladimir Putin. A ceasefire agreement could fuel bearish momentum, potentially accelerating the sell-off. On the other hand, if talks collapse, renewed geopolitical tension could keep oil prices bid in the short term.
Technically, 64.10 is the battleground a decisive rejection here could offer an attractive risk reward for sellers aligned with the dominant trend.
Oil | Bearish Bias Below 64.70as Markets Await U.S.–Russia TalksOil Little Changed, With Focus on U.S.–Russia Meeting
Oil prices were steady in afternoon trade as markets awaited Friday’s meeting between U.S. President Trump and Russian President Putin, which could potentially pave the way for a Ukraine peace deal.
Oil has fallen over 10% this year, pressured by OPEC+ restoring production faster than planned and by weakening global demand prospects.
Technical Outlook:
The price maintains a bearish bias while trading below 64.70, targeting 63.45 and 61.85, with further downside toward 60.20 if broken.
However, market direction could shift sharply depending on the outcome of Friday’s meeting.
A move above 64.75 would target 65.80, and a breakout beyond this could trigger bullish momentum toward 67.20 and 69.10.
Pivot: 64.70
Support: 63.45, 61.85, 60.20
Resistance: 65.80, 67.20, 69.10
WTI Crude Oil (USOIL) Analysis:The price of crude oil is currently trading near a nearby resistance area at $64.23, with the overall trend remaining bearish.
🔹 Bearish Scenario:
If the price breaks below $63.00 and holds under this level, we may see a target around $62.00.
🔹 Bullish Scenario:
If the price manages to break back above $64.58 and sustain above it, a retest of the $65.00 area is possible, and with continued buying momentum, the price could reach $66.30.
⚠️ Disclaimer:
This analysis is not financial advice. Please monitor the markets and carefully analyze the data before making any investment decisions.
