Buy Signal on WTI on Crude OIL Hello, We've identified a current opportunity to buy WTI Crude Oil with a high probability and a good risk-reward ratio of over 3 in the 4-hour chart. Our target is $85 within a few days (Swing trade). IbrouriLongby Abdessamadibrouri3
WTI OIL On the 1D MA50 & bottom of the Channel Up.WTI Oil (USOIL) hit the 1D MA50 (blue trend-line) today for the first time since February 07 and touched the bottom of the long-term Channel Up, forming a Higher Low. This is only 2 weeks after the formation of a 1D Golden Cross, the first since August 22 2023. That Golden Cross was also formed during a correction, which eventually kept the 1D MA200 (orange trend-line) intact and initiated a new Bullish Leg towards the 2.0 and 2.382 Fibonacci extensions. As a result, we remain bullish as long as Oil closes 1D candles above the 1D MA200, and target $94.00 (Fib 2.0 ext). If it closes even a single candle below it, we expect a new long-term Channel Down, similar to the one that was initiated after the September 28 2023 High, and we will take the small loss, open a short and target 71.50 (Support 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇by TradingShot18
US-OIL CORRECTION STARTEDHello Traders and everyone, I am Hadi Karaali, Known as SNIPERS_FX If you like the idea, do not forget to support with a like and follow. US-OIL QUICK UPDATE. 📚 👉As we can see US-OIL price is still overall bullish making clean higher highs and higher lows trading inside this rising channel. 📚 👉Meanwhile, price started a new correction movement, and as the price will be approaching our lower rising trendline, lining up with our demand zone, then we will be looking for new longs as a trend-following buy setup. And as per my trading plan as the price will be approaching this zone, I will be zooming into lower time frame, to be looking for any bullish reversal pattern to confirm our new longs. If you like this kind of analysis don't forget to like and follow and as usual follow your trading plan and manage your risk. Be patient and good luck!Longby Hadi_karaali6
Crude Oil - Trend Reversal - Forcasting to Price 73.821Crude Oil - Trend Reversal - Forcasting to Price 73.821 - Crude Oil forming Head and Shoulder Pattern. Currently Right shoulder is not confirmed wait for its formation.Shortby adnanfx145
Crude Oil incoming weakness after established Irregular Top.After this month's acceleration in Crude Oil (WTI) prices, the commodity looks poised for reversal after having experienced a considerable run-up out of a wedge pattern, commonly associated with a broad formation, given its uncertainty. The spike in price led to the formation of an Irregular Top which by its very nature implies a bearish move to follow. Given the technical parameters surrounding the pattern. A bit of sideways action is to be expected from these levels, but if the price breaks below $79.00 a further retracement to $75.00 and possibly lower levels can be expected. In terms of Seasonality, the summer driving season usually puts demand on crude prices given the surge in consumer driving activity. But one should not place conviction on this metric alone, given the broader price sensitivity of Crude oil. Bearing in mind ever-evolving Geo-Political Tensions and Opec's constant attempts at rebalancing, the narrative is susceptible to change at any given moment and therefore one should be vigilant in their commitments and analysis from this point forward.Shortby JBNYCTRADE3
XTI - Oil lack of Demand Tensions between Iran and Israel cooled down after news of Israel's bombings was blocked. And there are no losses for Iran. Along with US crude oil reserves increased to 2.7 million barrels, showing that demand for oil has decreased. Technically, support zones 80.2 and 77.02 should be observed.Shortby EasyTradingOnline2
US\OILThe current selling zone for US oil stands at 8219.6. To maximize gains, consider setting take-profit levels at 8109.00, 8090.00, and 8000.00 respectively. These levels offer strategic exit points to secure profits as the market fluctuates. Additionally, implementing a stop-loss order at 8290.00 can help mitigate potential losses by automatically triggering a sale if the price reaches a predetermined threshold. By strategically employing these measures, traders can navigate the volatility of the oil market with confidence and precision, ensuring their investments are protected while optimizing returns.Shortby FOREX_trade_01Updated 145
Approaching overlap support at 38.2% Fibonacci retracementWTI oil (XTI/USD) could fall towards the pivot which has been identified as an overlap support. Could this commodity potentially bounce off this level to climb towards the 1st resistance? Pivot: 80.96 1st Support: 76.53 1st Resistance: 87.22 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 ICmarkets9
Crude Oil - DXY ComparisonThe Dollar Index & Crude Oil are creating very similar price action & structures on the weekly timeframes. We previously saw huge bullish moves to the upside from 2021 - 2022 during peak Covid, followed by a consolidation phase (resting period) for the past year. It now looks like both markets are done resting & ready to sore back up🚀 Will you be buying these asset classes?👀Longby BA_Investments118
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)Shortby ShahedZare0
USOIL WTI UpdateWhat I had previously maintained as an alternative scenario (green in my previous charts) has now become the base case (black). It assumes that wave (w), and possibly wave (x), have ended and that the price can now rise to new highs. The previous base case is labeled in red, allowing for some additional downside. Looking at 2H-4H charts, I tend to discount the likelihood of such a scenario because wave b has grown disproportionate to wave a. Also, wave c of (x) must terminate in the territory of wave (w), which appears to be stretched if we assume an ending diagonal.by Fomenka5
US OIL UPDATE 2HR UPDATE USOIL UPDATE Hey team, Hope you are Enjoying our ideas and Analysis. Today we are Monitoring USOIL . Looking for a Buying Opportunity Around 82.17 one more Buy Limit 80.31 Once we will Receive any Conformation the Trade Will be Excuted Good Luck Guys 🚀🔥💪Longby MagickeyFX2
usoil will further push upsidehey there on 1HRTF the Usoil has recovered last week in downside area and its futher push upside will go on peak after hit 79 then go back 83 in these days by DvsTraderfirm2219
USOIL analysis, 21 April 2024Daily: Price has been bearish after taking the Daily-IRL (FVG-), now price has been going towards to the D-ERL (80.331), W-ERL, confirming daily bearish-MSS. Daily Bias: Bearish. H1: The price has been taken the D-ERL again & confirmed the daily Bearish CiSD, leaving behind H1-BPR- in OTE level, & a h1-FVG- above the 0.5 level. there will be 2 scenarios here for short, 1. Low probability, the price come to the h1-FVG- balance the imbalance, then, If it starts to fall then a short could be formed. 2. High Probability: Price come towards the h1-BPR, takes the liquidity, then starts to fall. Shortby Trader_PKR3
USOIL: Long Trade Explained USOIL - Classic bullish pattern - Our team expects retracement SUGGESTED TRADE: Swing Trade Buy USOIL Entry - 82.07 Stop - 81.01 Take - 83.91 Our Risk - 1% Start protection of your profits from lower levels ❤️ Please, support our work with like & comment! ❤️ Longby UnitedSignals112
Why I Expect 200 Dollar USOIL Wti CrudeUsing momentum indicators (keltner channel) I've been watching this weekly rally and recent correction. Using the close, and the last wave, oil price could climb to astronomical levels in USD. There is a momentum shift of the correction, and the bull market for oil appears to be underway. At this pace, 200 by june is not far fetched. I expect the Dollar to lose significant strength, and costly measures enforced as an abysmal attempt to stifle inflation. Soon interest payments will become the largest expense if it hasn't already. There is much reason to worry about world markets right about now. Larger Pattern Breakout and here is the shift up close on the weekly: This is not financial advice. Longby MikhiavelliUpdated 333315
Oil GrowthExpecting a continuation higher eventually here, but first we need to finish this ABC corrective wave to the down-side. Then we should see steady growth until the waves are complete and this would create a "fractal shift" that would be going well over ATHs...typical twice as much as the previous lows (where price is plotted to go in this idea)Shortby afinalboss5
USOIL - Interesting.. It can be seen how the resistance points are also liquidity points. It goes slowly but always ensures the manipulation! Keep it Simple! If you like it, don't forget to follow me :) Shortby DAISTRUM2
Crude oil trade rise and fall analysis On Friday, during the European trading session, WTI crude oil prices fell slightly. WTI crude oil futures experienced modest gains during the Asian session after Israel attacked Iran, initially surging 3% but later giving up most of those gains. The escalation briefly raised concerns about potential supply disruptions, but those concerns faded as the situation developed as it became apparent that there was no immediate threat to oil flows. WTI crude oil has fallen 6.5% from last week's 2024 highs, despite ongoing tensions in the Middle East and important U.S. economic data that cannot be ignored. The short-term outlook for oil prices is bearish, driven by high global inventory levels and lower immediate impact of tensions in the Middle East on supply channels. While markets remain wary of geopolitical escalations that could disrupt supply routes, the current supply glut is likely to depress prices. Investors should remain vigilant and pay close attention to geopolitical developments and strategic policy changes that may affect market conditions. Today's price surge and then rapid reversal points to the presence of bears, putting further downward pressure on WTI crude oil futures. Clearly, traders are selling on the rallies and this selling is likely to continue as long as demand issues persist and there are no offsetting supply disruptions. This keeps traders’ eyes focused on the 50-day moving average at $80.10. This level affects the medium-term trend. Shortby Jerome-LeonUpdated 2
#Oil #WTI Update#Oil #WTI. Indeed, after some rekindling, I was able to reassess the previously green scenario as the most probable. Now I've labeled it in black. The chart could be indicating that a disaster is imminent.by Fomenka5
Oil gives back overnight gainsOvernight, crude oil surged higher as news broke of explosions around an airfield in Isfahan in Iran. Israel is widely considered responsible, but has yet to comment. The limited strike is thought to be the Israeli response to Iran’s direct attack on the country last weekend. Iran has played down news of the strike, and it currently feels as if this won’t be the precursor to an escalation in hostilities. Both WTI and Brent rallied around 3% in the immediate aftermath of the breaking news. But those gains steadily evaporated over the course of this morning, and at the time of writing, both Brent and WTI are unchanged from yesterday’s closes. This means that crude is continuing to slide back towards significant support which comes in at $80 and $85 for WTI and Brent respectively. This price action is further evidence that the market is relatively unconcerned with the ongoing hostilities across the Middle East. Instead, it is more exercised over the outlook for global demand growth for this year and beyond. China’s economy is not recovering as sharply as many investors had hoped. This weighs heavily on the price of oil as China is not only the world’s second largest economy, behind the US, but also the world’s largest importer of crude. Investors are also pricing in the likelihood that interest rates in the US and elsewhere are likely to stay higher for longer. This should weigh on economic growth going forward, and thereby dampen crude demand growth.by TylerNorcross0
Oil WTIThe price of oil has fluctuated due to geopolitical trends, but oil is still more valuable and can reach its original price during a medium-term monthly or weekly period. I have considered 3 targets for oil, the most important of which is target number 1.Longby sashacharkhchian2
WTI Will Fall After Recent Middle East EventsThe oil price rose on reports of an Israeli attack on Iranian territory. However, since the attack occurred in a very limited scope and both sides seem to be giving each other the opportunity to exit the conflict with face-saving, it is expected that the price of WTI will soon decrease again. This assessment is supported by a hidden bearish divergence in the CumulativeDelta.Shortby OchlokratUpdated 1