Bullish reversal off pullback support?USO/USD has bounced off the support level, which is a pullback support, and could potentially rise from this level to our take profit.
Entry: 62.59
Why we like it:
There is a pullback support level.
Stop loss: 60.51
Why we lik eit:
There is a multi swing low support.
Take profit: 65.51
Why we like it:
There is a pullback resistance level that lines up witht he 38.2% Fibonacci retracement.
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USCRUDEOILCFD trade ideas
USOIL - lookoutMultiple rejections at R2 on 1H as marked, however price bounced back from the R1 pivot.
It seems traders are trying to hold price in anticipation of the EIA data tomorrow.
Personally I feel R3 will be hit, but I would trade cautiously, if you're like me and missed the move. Wait for confirmations, don't just jump in.
NFA
Buy WTI crude - Very good entry point and High margin of safety The current buy zone for US crude oil (WTI) is approximately between $61.50 and $63.00 per barrel. Key support levels are identified around $62.03 and $61.30, with a stop loss recommended below $59.20. Technical indicators such as moving averages and the Parabolic SAR suggest a bullish trend as the price is trading above the 50-day SMA and 200-day EMA. Analysts expect moderate volatility but overall a favorable setup for buying in this price range, targeting higher levels around $70 and above
WTI OIL Buy signal if the 4H MA50 breaks.WTI Oil (USOIL) appears to have found short-term Support since the August 13 Low, turning sideways, with its 4H RSI however on Higher Lows, thus displaying a Bullish Divergence.
This is similar to the June 24 - July 02 Bullish Divergence, which once it broke above the 4H MA50 (blue trend-line), it topped a little over the 0.382 Fibonacci retracement level.
As a result, we will be waiting for the 4H MA50 bullish break-out signal to target $65.60 (Fib 0.382).
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WTI Crude sideways consolidation 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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USOIL - Swing IdeaSo I am just speculating, price is kind of rangebound for now but hear me out.
The Asskonhole tomorrow with the lizard people may or may not provide the fuel for the price to revisit ~60 area and we could see a nice bounce.
I mean I don't see why we can't revisit ~64-65 earlier but we would need some sort of war news or supply shock.
this is purely speculation and NFA
Crude Oil Analysis (WTI / USOIL):Currently, oil is trading near the $62.20 level, with the overall trend still bearish but showing signs of a potential rebound.
🔻 Bearish Scenario:
If price breaks below $61.80 and holds, it may target $61.00. Continued selling pressure could push it further toward the strong support area at $60.00, which is considered a potential rebound zone.
🔺 Bullish Scenario:
If price manages to break above $62.60 and hold, it could rise toward $63.00, with the potential to retest the $64.30 area.
USOIL Will Move Lower! Sell!
Please, check our technical outlook for USOIL.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 62.604.
The above observations make me that the market will inevitably achieve 60.001 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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Oil Prices Drop on Russia-Ukraine Talks HopeOil prices decline in anticipation of potential negotiations between Russia and Ukraine
U.S. President Donald Trump announced plans to facilitate a meeting between Ukrainian President Volodymyr Zelenskiy and Russian President Vladimir Putin, following his Monday summit with Zelenskiy and European leaders. Zelenskiy called the talks with Trump “very productive,” highlighting discussions on U.S. security assurances for Ukraine. A resolution to the Russia-Ukraine conflict could lift sanctions on Russian energy exports, freeing up crude oil trade. Oil prices have dropped around 10% this month due to trade tensions and increased OPEC+ production.
Technically the price consolidates below the intermediate 6,300.00, forming the bearish pennant. Price is getting ready to decline. Here, the first target will be the major level of 6,000.00.
Crude oil fell as expected, take your profitsThe short positions we previously opened near 62.5 for US crude oil have now fallen smoothly and made substantial profits. Please pay attention to the support strength at the 60 position. Conservative investors can close their positions and pocket the profits.
Crude Oil Analysis (WTI / USOIL):The price of oil is currently trading near $62.30, and the overall trend remains bearish.
🔻 Bearish Scenario:
If the price breaks below $62.00 and holds, it may target $61.00. Continued bearish pressure could drive the price toward the strong support zone at $60.00, which is considered a potential rebound area.
🔺 Bullish Scenario:
If the price manages to break above $63.00 and hold, it may retest the $64.30 level.
USOIL BULLS ARE STRONG HERE|LONG
USOIL SIGNAL
Trade Direction: long
Entry Level: 62.42
Target Level: 68.54
Stop Loss: 58.34
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.
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My view on oil is not positive for the next 3 years.In my observation, the last 2 months of the 2nd quarter of the year according to the cycle is the breakout level to determine the trend. Oh, and one more thing, it needs a monthly candle to sink down in the next 2 months to be more consolidated and can be considered a sufficient condition to legitimize this investment idea.