Attention Traders,
In today's trading session, our focus is on USOIL, with our sights set on a potential buying opportunity around the 84.70 zone. USOIL has recently broken out of a downtrend and is currently in a correction phase, approaching the critical support and resistance zone at 84.70.
Adding depth to our analysis, it's essential to consider the...
Crude oil analysis
Daily resistance is 87.7, support below is 83.4
Four-hour resistance is 87.7, support below is 86.3
Crude oil operation advice: Today, focus on the strong pressure above 87.7 from the four-hour and daily levels, and the support below is around 86 and 83.4. When crude oil falls to 86 and 84 and is blocked, you can participate in the long...
A trading plan is a set of rules that specifies a trader's entry, exit, and money management criteria for every purchase. With today's technology, test a trading idea before risking real money. Known as backtesting,this practice allows you to apply your trading idea using historical data and determine if it is viable.
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market's volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
WTI oil (XTI/USD) has bounced off the pivot which has been identified as a pullback support. Could this commodity continue to rise towards the 1st resistance?
Pivot: 84.99
1st Support: 83.52
1st Resistance: 87.77
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....
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...
WTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 85.05 which is a pullback support.
Stop loss is at 83.50 which is a level that lies underneath an overlap support.
Take profit is at 87.30 which is a pullback resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin...
Fundamentals & Sentiment
WTI:
In general, there are global drivers for oil demand, amongst them is supply curbs from OPEC. More recently geopolitical risks in Middle east create bias for oil upside.
USD: The dollar has been overbought according to CFTC reports. The risk of BoJ intervention is still there, so it's better not buy dollars anyhow as long as USDJPY...
On Thursday January 11th ( earlier today) WTI Crude prices gyrated widely
likely in reaction to US /UK intervention on the terrorists who seized a tanker on the behalf of
Iraq in the Red Sea / Suez Canal area putting shipping and supply concerns into the oil industry
to offset any weak demand. The 15 minute chart shows a megaphone pattern as a...
The recent escalation in the Iran-Israel conflict has cast a long shadow over the global oil market. Already grappling with tight supply and high prices, oil traders are now forced to factor in the potential for disruptions caused by the ongoing hostilities. This idea explores the current situation, potential outcomes, and analyst perspectives on the future of oil...
USOIL:
Small-level indicators are beneficial to bulls, with resistance around 85.8-86.5. Trading is long first and then short, and the short target is 84.8-84.
If the bulls are strong and break through 86.2-86.5, the top range of 86.9-87.5 will be considered.
Hi Realistic Traders, let's discuss the latest surge in WTI Crude Oil Price
Why have Oil prices surged?
In the second quarter of 2024, Russia plans to cut its crude oil production in line with OPEC+ agreements, gradually reducing output each month from April to June. This decision follows earlier cuts made in April 2023 and March 2024, with export reductions...
As you can see, the price reached a daily bearish FVG and had a bearish reaction, so we are looking for a sell position.
I am searching for a premium entry, there is buy-side liquidity below FVG which aligns with the balance price range.
Until we don't close the candle body above the Daily FVG, I am bearish.
💡Wait for the update!
🗓️15/04/2024
🔎 DYOR
💌It is...
VANTAGE:USOUSD
Spot crude oil is showing a megaphone pattern on the 4H chart.
This suggests increased volatility due to buyer/seller indecisiveness especially
when the price action is near the upper and lower lines as well
as the midline. The link below goes to a tutorial on how
to trade a megaphone pattern.
USOUSD after its minor correction on the 15-minute chart is resuming its
bullish trend with an engulfing green bar and confirmatory indicators
including an uptick in the postive directional index and on the BB a
move from a bounce near to the basis band toward the upper bands.
I will go long on leveraged forex.
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.
✅LIKE AND COMMENT MY IDEAS✅
We stick to our base case, which we've been tracking since January, the market may experience a significant retracement before resuming its upward trend.
As previously stated, the market appears to have formed a double top with negative divergence against the RSI indicator, and after a modest bounce on Monday, it could fall to everyone's surprise.
Despite Iran's attack on Israel, the prices of Brent and WTI crude oil remained stable. However, in the event of a reciprocal response from Israel to Iran within the next 24 hours, the price of oil is expected to make a significant upward jump from its long-term trend line.
Currently, the price of WTI crude oil is within its supportive range on the 4-hour...
