WTICOUSD Short IdeaSwing idea on Oil using trend lines as a way of managing downside and trailing stop in profit 4h time frame only Shortby wilsonkfxUpdated 2
Oil prices still under downward pressureCrude oil fell relentlessly last week, but managed to post a modest gain on Monday. Prices turned lower once again yesterday, and the sell-off has continued this morning. Front-month WTI has now fallen back below $78 per barrel, a level which acted as resistance back in November, January and February. It’s now apparent that it hasn’t offered any support to prices. Crude continues to come under selling pressure as traders consider future demand growth. Undermining demand is the dialling down of expected Fed rate hikes this year. Expectations have fallen significantly given the upturn in inflation throughout the first quarter. This means that the US economy won’t feel the stimulative benefits of significant rate cuts this year, and that should weigh on demand for crude. There was additional selling pressure following yesterday’s update on US crude oil inventories from the American Petroleum Institute (API). These showed an unexpectedly large build in crude stockpiles, and this follows on from last week’s build. This suggests that there’s ample supply in the US. Prices rallied a touch following an inventory update this afternoon from the US Energy Information Administration. This showed a slightly bigger than expected drawdown. But it feels as if there’s more downside to come until crude oil finds decent support. by TylerNorcross1
CRUDE OIL SELLI want to try this sell, in my opinion probable reversal. The real key regardless of any strategy is to have a decent risk/reward . You win and you lose , so be cautious. No financial advice, do your own researchShortby BigPlanUpdated 1
Crude Oil: Potential Bullish ShiftOn 4h timeframe, WTI Crude Oil is printing a falling wedge pattern followed by Bearish Divergence on RSI. Potential Reversal Zone is predicted using the AB=CD pattern. TRADE PLAN Buy on breakout on previous Lower High. Stop Loss on previous Lower Low TP1, TP2 with RRR of 1:1 and 1:2 respectively Longby CipherCharts16
Oil Prices Signal Further Declines Oil Prices Signal Further Declines Oil prices have exhibited a downward trajectory, breaching the pivotal $77.5 mark. This breach has set the stage for potential further declines. The first significant support level is anticipated near the $76.8 zone, followed closely by a more robust floor around the $76. Investors and traders are advised to exercise caution due to the ongoing conflict in the Middle East. The geopolitical tensions have historically been a catalyst for market fluctuations, and the current situation is no exception. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️ Shortby KlejdiCuniUpdated 3319
USOILThe AB=CD pattern is a harmonic pattern in technical analysis that helps traders identify potential reversal points in the market. It consists of four price points, forming specific geometric shapes. The pattern is characterized by two equivalent price legs (AB and CD) separated by two other legs (BC and CD), where the CD leg retraces a specific Fibonacci ratio of the AB leg. A bullish AB=CD pattern typically forms during a downtrend and signals a potential reversal to the upside. Traders look for specific Fibonacci ratios between the legs to confirm the validity of the pattern. Once identified, traders might use this pattern to enter long positions, anticipating a bullish move in the price. As always with technical analysis, it's essential to combine pattern recognition with other indicators and analysis techniques for confirmation and risk management.Longby B9A-88652-NisarAhmad3
WTI Head and Shoulders formingStarted watching the H&S form on WTI. It's still early but has been worth keeping an eye on it. by chwolff113
***** USOIL UNIQUE IDEA *****#USOIL UPDATE Hey team hope you all are enjoying our professionals market analysis. We analyze the market deeply. Now we are here to discuss about USOIL. USOIL is exactly on the way as predicted. Already in good gain. We can see here a small support level. But maximum Chances it will break this support level. If it breaks this level we can Price around 70 soon. Always trade with Confidence ✍Shortby Williamforex4
WTI ShortLate breakout from daily head and shoulders. Current entry, break of 4hr support level with SL behind 4hr resistance. Target at H&S MPO or next daily support Going inline with Oil Inventories higher and Rig Count higherShortby ElGore180
USOIL BULLISH CANDLE Hey there on 1htF the USOIL will see opportunity from upside 75 so we can see now sell side and then will go upside Longby DvsTraderfirm3
USOIL is approaching the daily uptrendHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 77.70 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 77.70 support and resistance area. Trade safe, Joe.Longby JoeChampionUpdated 6643
Falling towards pullback support, could it bounce from here?WTI oil (XTI/USD) is falling towards the pivot and could bounce to the 1st resistance. Pivot: 77.21 1st Support: 75.98 1st Resistance: 80.08 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.Longby ICmarkets4
0506-0511 USOIL Weekly OutlookHello traders, USOIL has been bearish since early of April. It got one week correction and turn down to drop hardly again last week. On the left weekly chart, last week Strong bearish candle cross EMAS down to a new low. This is a weekly bearish signal for us. On the right 4H chart, seems like it stops dropping by reaching FIBO EXT 1.27-1.414 support zone. This could be a sign for sideways price action like what I marked out on the chart. Price could turn down to a new low after this price action unless war in the earth happen soon in this week. GOOD LUCK ON THIS WEEKLY OUTLOOK. LESS IS MORE!by FUNTRADER-VeraUpdated 4
WTI: Long-Term Buy Signals Remain StrongHello Everyone, WTI is presently examining the monthly and daily support levels, while the weekly support appears robust. Additionally, it seems that the 1-year pivot point (PP) has offered ample support to initiate an upward movement in price. WTI maintains its position as a strong long-term investment, provided that the price stays above the 1-year PP. TradeWithTheTrend3344 Longby TradeWithTheTrend33448
CRUDE HEADING TO $75.00 WTIGIVEN THE CURRENT MACRO ENVIROMENT WHERE UNEMPLOYMENT HAS STARTED TO RISE AND GDP READING WEAKER THAN EXPECTED, OPEC ALLIES KEEPS CUTING OUTPUT AND WEAKER DEMAND EXPECTATIONS, OIL MAY BE HEADING TO 75USD PER BARREL AS SOON AS THE NEXT WEEK. BULL THESIS: - Yields start to rise as bets on FED hike - Strong economic data - Middle east conflict escalates - East Europe Crissis escalete - Crude facilities compromised BEAR THESIS: - Yields keeps falling as weaker macro data show up - Crack spreads lowering - Israel vs. Hammas cease-fire achieved - Russia hold its positions on Ukraine, Ukraine doesn't reply attacks - Crude extraction and refining facilities not compromised Shortby yamilbocanegra2
OIL BUYAgain an opportunity to expect oil to rise. The exchange rate rebounds from the support-resistance level.Longby xMoranTomx6
Crude Oil long set up (continued)I believe that the lows are in. We should find support in this area here for a bounce. Longby card2211114
USOIL TIME TO REBOUNDAs you see in the chart, the price is retest the trend line and the fib extension 161.8 zone. We'll expect rebound soon to 82.10Longby BOYBERMUpdated 5
Expectation on WTI (7/5/24 - 10/5/24)7/5/24 - As we can see, WTI could potentially done its bids and expecting it to starts offer out at this point. With the confluence of it reaching going back to 50MA. The only way WTI will offer out is the breach 50MA with volume. If it rejected it and price heading back to double bottom, I will see as my expectation of WTI going up invalid. All the best traders. - NavLongby navtrad3sUpdated 3
The Big picture of Oil ,short therm 73-75 and then bullish On the big picture of Oil chart it should come down to 73 usd (200ma monthly chart) ,the lowest point ,but I think it will bounce up from 74-75 (200 ma weekly chart) and then all the way to 100 usd by September ,with the first rate cut it will go to at least 115 usd...this is just my scenario , no investment advice..I am playing my own money ...DYORLongby cosmin_the_best6
U.S. crude oil inventories are forecasted to grow by 1.2 mU.S. crude oil inventories are forecasted to grow by 1.2 million barrels for the week ending May 3, a decrease from the 7.3 million barrel surge reported in the prior week, according to strategists at Macquarie in a recent Monday briefing. The overall U.S. crude balance is projected to be considerably looser than previously expected. technically: The price already dropped as we mentioned in the previous idea, and still trading at the bearish zone to reach 75.35. so the bearish trend suggestion will continue as long as trades under 78.78 toward 76.60 and 75.35 the price will move between 80.73 and 75.35 for this week Pivot line: 78.78 Support lines: 76.60, 75.35, 69.78 Resistance lines: 80.73, 82.24, 83.75 PREVIOUS IDEA: Shortby SroshMayi5
USOIL buy (240pips)USOIL traded creating a new impulse, we could see some pull back forming. FOREXCOM:USOIL FX:USOIL TVC:DXY Price action is observed. This is only a trade idea, use proper risk management. Happy tradingLongby PLETHORAFOREXINSTITUTE3
USOIL - He's locking himself in... It appears that we have a good accumulation triangle present. Remember: Consolidations also have shape, if you are able to see it clearly.... There may be a nice drop coming, so watch for it!!!!! No fear of success daddy ;) Keep it simple! If you like me, don't forget to follow me !!! Shortby DAISTRUM2