USOIL - likely bullish correction mid termUSOIL WTI - long accumulation from hedge funds and leveraged asset funds. Likely bullish sign for upwards momentum medium term. Longby ToshihiroHiramatsu2
oil (WTI)The right range of purchases with a risk to the right reward! Stabilization stop below 76,800Longby hamed-aghamirzaei3
Increase oil buying efforts. Target 80.3-80.7 Buy oil at around 79.3. Ultra-short-term trading shows that there is huge support below. Longby AA_JackUpdated 3
OIL: After death of Iran's President The recent death of Iran's President might initially impact oil prices due to concerns about Middle East instability. However, this effect is likely to be temporary for several reasons: Limited Presidential Power: In Iran, the President's role is more executive, with real power concentrated in the hands of the Supreme Leader. Therefore, the President's death does not signify a major shift in governance or policy direction. Supreme Leader's Influence: The President, including the late Ibrahim Raisi, is essentially elected by the Supreme Leader. This ensures continuity in Iran's political landscape, reducing the likelihood of significant instability. Market Realization: Any initial market reaction based on fears of instability is expected to be short-lived. As the market realizes that the Supreme Leader's authority remains unchanged, confidence should return, stabilizing oil prices. In summary, while there may be an initial reaction in the oil market, it is unlikely to result in long-term chaos or a significant deviation from the current market direction.Longby AliSignals3
OIL & OPEC CutsOPEC cuts lead to lower oil, not higher oil prices. That is why they are cutting . If Global demand was there they would not be cutting they would be selling as much as they can at higher prices. I see too many people get this backward.by RealMacroUpdated 10010069
Oil short viewThe price of oil is preparing for a new retreat. The first target is $76.00, after which we could go down to the $74.00 level. We have a bearish momentum from Monday and a rejection from the EMA20-daily.Shortby Aleksin_Aleksandar3
ANALYSE US OIL US OIL NOW TO WAY TO FINISH WAVE Z note :any help or question just send write comment to help you Note: for new followers after follow me cheek your inbox in trading view i will send message welcome and surprise like and follow our profile for more signal forex for free and good luckby tarikhut2
Usoil buyBuy looking momentum for usoil upside breakout needed before FOMC ... stay strong with this holdLongby DNA_Trader_Officials2
Usoil buyUsoil buy situation in the day chart short term correction completed now looking for buy momentum Longby DNA_Trader_Officials1
USOIL - Short or Buy? Break down or retracement up? Technicals 1. We have been stuck in a range on a higher time frame for quite some time now. 2. On a higher time frame we failed to confirm a break-up from a trendline dating back to March 2022, which was the COVID-19 highs. A failed break-up of this mega trendline is normally a sign of big reversal or retracement. & we did just that ;-) question is, is this a reversal or just a retracement because I see also a trendline from DEC 2023 which we trade just under. IMO we have not fully confirmed that break down. 3. Visible in my chart we see that we are since then on a big down sloping channel which is still respected. Fundamentals 1. My bias is slightly bearish long term because I think the US economy & other major economies will be in a recession which will give downside pressure on the price of OIL 2. Conflict in the Middle East seems to have not a significant impact as of now on the price of USOIL. Will this change? Till I see major escalation happening I don't see that it will have greater impact than it already has. US also is less energy dependent so therefor geopolitical will impact less. 3. Bullish sign is that OPEC is still holding strong on OIL cuts and China is still strong. Summer season will also give some upside pressure because of demand. Trade 1. The first trade, which is a buy option, I will take if I see buyers really taking over to push price up 2. The second trade, which is a sell, I will take if we confirm a break and retest of the weekly low. Great trading all of you Greetingz, Simba Trades by Simba_Trading2
READY GOING UP Looking at the daily and hourly time frame, I decided to take the opportunity to buy because the resistance area has so far been able to be maintainedLongby SAMSONPAPATrader1
Fundamental & Technical analysis on USOILMay 20th 2024 Fundamental: Were seeing a up tick in Non-comm Long and Short positions being held. Shorts are increasing at a faster pace. The Net positions is positive and holding steady. Commercial (Hedgers) short positions is increasing significantly quicker then Longs, Net position is negative and decreasing/holding. Technical: I'm expecting to see consolidation for the coming week/s between 78-81 with price action making a lower high causing a fake EMA cross over to the upside and setting its self up for more down side. Entry Criteria: For me to consider a entry i have to keep seeing Short positions increase for both Non-comm and Comm in the coming weeks as well as Non-comm Longs decreasing. Ideally for Price action i want to see USOIL consolidate then make a lower high before its leg down (BLUE), there's the possibility it makes the lower high without consolidating (RED) but I do need to see the 5 EMA cross down the 20 EMA while Momentum is negative and the Stochastic is crossing down 50%Shortby IateyourcroissantUpdated 1
usoil is bearishInvestors are cautious about U.S. inflation and interest rates, pushing oil prices lower. Fed officials indicate more signs of slowing inflation are needed for rate cuts. Despite increased refinery capacity, demand remains weak, adding pressure on oil prices. Given the persistent inflation concerns and the cautious stance of the Federal Reserve, the outlook for crude oil prices remains bearish in the short term. The combination of weak refinery demand, ample supply, and geopolitical uncertainties points to continued price pressure. However, OPEC+ production cuts could offer some support, preventing a steeper decline. Traders should monitor upcoming economic data and OPEC+ decisions closely for further market direction.Shortby MtICHI2
OIL can go long in these positions, today’s analysis and strategCrude oil technical analysis Daily resistance is 79-81, support below is 76.8-75 Four-hour resistance is 79-80, and support below is 78.3-76.8 Crude oil operation advice: Crude oil still fluctuated widely yesterday, with the lowest backtest of 78.2 starting to stabilize, and the highest hitting 79.8. Then it fell sideways, and after reaching near the previous high, it failed to break through directly, and continues to fluctuate upward today. The overall price has stabilized at the 78 mark and continues to operate in a wide range of long and short shocks. Today, we will continue to focus on the vicinity of 79-79.6. If we break through this position during the day, we will continue to be bullish first. The short-term pressure above will focus on 79.6. Once the daily line firmly holds the 79.6 mark, we can see a big rise. BUY:78.3near SL:78.00 BUY:79.0near SL:78.70 BUY:79.6near SL:79.30 Technical analysis only provides trading direction! Longby ActuaryJUpdated 3
The pros' next week analysis and strategy for crude oilMarket Analysis: Crude Oil Price Signal Bearish Acceleration Crude oil prices declined steadily below the $80.00 support and moved into a bearish zone. Important Takeaways for Oil Prices Analysis Today Crude oil prices extended downsides below the $78.00 support zone. A major bearish trend line is forming with resistance near $78.00 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to continue higher above $80.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $78.00. There was a steady decline below the $77.40 pivot level. The bears even pushed the price below $76.50 and the 50-hour simple moving average. Finally, the price tested the $76.30 zone. The recent swing low was formed near $76.31, and the price is now consolidating losses. Immediate support is near the $76.30 level. The next major support on the WTI crude oil chart is near $75.00. If there is a downside break, the price might decline toward $73.50. Any more losses may perhaps open the doors for a move toward the $72.00 support zone. On the upside, immediate resistance is near the 23.6% Fib retracement level of the downward move from the $78.52 swing high to the $76.31 low at $76.80. The next resistance is near the 50-hour simple moving average and the 50% Fib retracement level of the downward move from the $78.52 swing high to the $76.31 low at $77.40. The main resistance is near a trend line at $78.00. A clear move above the trend line resistance could send the price toward $79.05. The next key resistance is near $79.90. If the price climbs further higher, it could face resistance near $81.20. Any more gains might send the price toward the $82.00 level. by Joe-ChigoraUpdated 2
Will crude oil continue to rise by 85? Crude oil started to fall from the daily high of 88 in a double top pattern, and now it has successfully broken through the key watershed of 81, and the lowest drop to around 77 has eased the decline. It has not been able to break through the 77 mark recently, indicating that there is a lot of buying support, but the trend is still bearish. As long as it does not break through the 81 mark, it will remain bearish. So today's operation can be short near the rebound of 79, and must be short if it reaches around 80, and long near the bottom of 77. Pressure: 79-80 Support: 77-76by money-making-machine-Updated 2
US OIL WTI : Bullish - 2 Falling wedges + Head&ShouldersUS OIL WTI : Bullish - 2 Falling wedges + Head&Shoulders Wti crude oil can rise higher because of current geopolitical tensions. OPEC countries have reduced their daily production of barrels of oil. Technically: The wolf of Zurich has detected 2 "Falling wedges" and an " inverse head & shoulders" . These chartist patterns could raise the price of WTI oil around 96$-98$ and even up to 106$ ; However a divergence with their ROC ( Rate fo Change ) has been detected and we could go back down to the levels indicated on the graph 81$- 79$- 73$ ,and then 67$ dollars. To monitor EMA.50 and EMA.200 on different timesframes be careful ! have a good day to allLongby Le-Loup-de-ZurichUpdated 3
Usoil buyOil looking for another buy option trade wisely... strict Stop-loss use this for recovery order high lot recommended Longby DNA_Trader_Officials1
USOIL: Oil prices have turned downUSOIL: Oil fees have became down. In the fast time period, there are symptoms and symptoms of breaking the preceding growing channel. Besides, the fast-time period accumulation region around $77 -seventy nine is likewise displaying a main weak point withinside the context that OPEC+ has finished its discount goal and is making plans to boom production. In the fast-time period destiny scenario, it's far in all likelihood that OIL will drop to deeper charge levels. You can watch to promote with short-time period expectancies of around $75/1 barrel.Shortby Chart_MasterPro1
USOIL Long/Buy Trade tp¹ hitUSOIL Long/Buy Trade tp¹ hit As I share on 21 may my analysis about USOIL and market execute the 1pending order and hit our tp¹ AlhamdulillahLongby SMCTradingOfficial1
WTI/USD - LONG Trade Call on Daily time -Pole with Bullish Flag On 1D time frame, no Divergence is observed. Therefore, bullish trend should resume from Bullish flag formation breakout. One can estimate the length of breakout by using Pole as reference. This going to take couple of months. So patience is the key. My trading values are depicting on Price chart.Longby ASAD_G47Updated 4
Crude Oil (WTI) may rise 80.60/80.95Iranian President Ebrahim Raisi has been killed in a helicopter crash in a mountainous area of the country. Rescuers on Monday found the helicopter that had been carrying the president and other officials including Foreign Minister Hossein Amirabdollahian, who also died, the semi-official Mehr news agency reported. It crashed on Sunday near Tavil village in northwest Iran. Raisi was returning from an event on the border with Azerbaijan in a party of three helicopters when his craft went down with nine people on board, all of whom died. There was dense fog in the region, making conditions difficult for rescue teams. The other two helicopters landed safely. US Senate Majority Leader Chuck Schumer said intelligence agencies had informed him there is no evidence of foul play in the helicopter crash, NBC reported. The president’s death comes at a time of turmoil in the Middle East as the war in Gaza between Israel and Hamas rages. The conflict has edged Iran, which backs the Islamist militant group, and Israel closer to all-out conflict and led to other Tehran-supported groups, including the Houthis in Yemen and Shiite militias in Iraq, to attack ships around the Red Sea and US bases. In April, Iran launched an unprecedented barrage of missiles and drones at Israel, its sworn enemy, though they were almost all intercepted and caused little damage. The Jewish state reacted with a limited strike on an air base in Iran. While tensions between the two countries have since eased, they’re still high with the Israeli military in its eighth month of a war to destroy Hamas — designated a terrorist organization by the US and European Union. Raisi, an ultraconservative cleric in his 60s who won a presidential election in 2021, had been seen as a favorite to succeed Ayatollah Ali Khamenei, Iran’s supreme leader and who’s in his 80s. He’s likely to be succeed by first Vice President Mohammad Mokhber, who has represented Iran on many recent overseas trips and who like many senior Iranian officials is subject to US sanctions. Elections will probably be held within 50 days, as per the constitution. Raisi’s death won’t “seriously disrupt Iran’s internal stability, as security forces, the army and Islamic Revolutionary Guard Corps remain under the control” of the supreme leader, Gregory Brew, an analyst at Eurasia, said in a note. The IRGC is a powerful military and business force and controls many of Iran’s relations with the proxy militias. Both Raisi and Amirabdollahian oversaw the restoration of Iran’s diplomatic relations with Saudi Arabia through a Chinese-brokered deal in March 2023. But it was also a time when there was also a stalemate in negotiations to revive Iran’s nuclear deal with world powers including the US and lift Western economic sanctions. Iranian television earlier aired live footage of scores of ambulances amid heavy rain and fog. The Turkish ministry of defense said it had dispatched a drone in response to a request from Iran to help locate and monitor the crash site. The EU helped by activating its rapid response mapping service.Longby Daniel_Thompson2
USOIL shortShorting the idea the fact that its a retracement move then making another leg lower. Also adding in the fundamentals that inflation is cooling and FOMC is round the corner. watch this space :) Shortby hakali1