Hello,Friends!
USOIL uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 80.85 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the USOIL pair.
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CRUDE OIL formed a nice double bottom pattern
after a test of a key intraday support.
The breakout of the neckline of the pattern is an important bullish confirmation.
We can expect a bullish movement at least to 86.0 level.
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USOIL... still valid short below that channel.
that is mentioned on chart.
a straight drop expected below that region,
keep close it and dont buy oil until market below that channel
good luck
trade wisely
Hello traders..!!
Absolutely, let's spice it up:
Crude oil is teasing us with a classic double bottom dance, tapping into a key intraday support not once, but twice! 🛢️✌️ This dynamic duo formation is like the oil market saying, 'Hey, I'm ready to switch gears!' But here's the real kicker: the breakout above the neckline of this pattern? That's the ultimate...
Oil prices could see spike well above 88 -92 in this month if conflict escalates after iran attack on Israel.
its hard to oil to go lower than 83-80. there is no fundamental for oil going lower.
beware there is a chance to go 82-83 before (80 at last) before we go higher for this month.
(please dont risk more than 2% in trade)
watch your risk management. Good...
USOIL
Continues in this choppy descending channel that probably signals weakness to the downside.
Notice the RSI is now at a depth where previous corrective phases completed.
Could be moving on up soon 👍.
Not advice
Dear Traders,
Hope you are doing great, US OIL has been extremely bullish since our last three entries and there is huge chance that we can get fourth entry on the point. There is gap spotted and in our view price can fill the area and bounce straight up from that region. Please use accurate risk management and take entry accordingly.
Please like and comment for more.
The current selling zone for USOIL stands at 85.25. It's an opportune moment to consider taking profits at various levels: 85.00, 84.50, and 84.00. These targets offer strategic exit points to capitalize on potential market movements. Meanwhile, it's prudent to set a stop loss at 85.90 to mitigate potential losses in case the market moves against the anticipated...
USOIL / 1D
Hello traders, welcome back to another market breakdown.
Crude Oil traded lower earlier in the week after a small pullback bear trend.
The bears got 3 pushes down, forming a wedge pattern.
They want a retest of the June or May lows, followed by a breakout below.
The bulls see the current move down simply as a bear leg within a trading range.
They...
WTI Oil has made a double top trap and consolidating above liquidity pool, below which is the weekly FVG with a overlapping swing high to the left.
Monday-Wednesday we can see turtle soup into this reversal zone and target this double top for longs.
Bullish!!
Lately, there has been no shortage of chatter surrounding Crude Oil, and with that, also a lot of calls for a bottom. While I agree it appears to be late in the move to initiate new short positions (-57% decline since July), I don’t believe we have the type of price action supportive of a bottom yet. The price action the past couple of weeks has been uninspiring,...
Since the eruption of the war between Hamas and Israel in early October 2023, we have been occasionally reporting on some of the developments in the oil-rich region. In one of the more recent articles, we outlined how Israel’s deadly airstrike against Iranian generals in Damascus, Syria, was likely to provoke retaliation from Iran and its proxies. On Saturday,...
Israel retaliated against Iran overnight, which saw the price of WTI crude oil jump nearly 4.5% before giving up some of its gains. Per media reports, three large explosions were heard in the country's south, and the U.S. official announced Israel successfully hit some of the targets, something Iran was quick to deny. Without regard for damages, it is already...
WTI Crude Oil came to day to the closest point it has been near the 1D MA50 in more than 2 months, since the February 6th breakout. The 1D technical outlook is neutral (RSI = 48.820, MACD = 1.03, ADX = 27.71) indicating that this is the most efficient buy entry since the February low. The market has already formed a 1D Golden Cross and displays striking...
US Oil is another name for West Texas Intermediary (WTI) Crude Oil. WTI is the benchmark for Atlantic basin crude oils because of its location in the Gulf coast and central US.
USOIL is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is 50% Fib retracement level and local support as well. if the market successfully sustain this buying confluence the next leg up could go for new HH.
What you guys think of this idea?
WTI Oil has indeed finished its second leg and retracted back to a significant order block zone.
This is often a signal for potential accumulation before another ascent.
Based on current patterns, it's poised to climb back up towards the previous decline pivot, setting up an interesting play for those watching the oil markets.
![USOIL: OIL ready for a turle soup! [Bullish]](https://s3.tradingview.com/k/Kuz5zuRr_mid.png "OIL ready for a turle soup! [Bullish]")
