Usoil buyBuy looking momentum for usoil upside breakout needed before FOMC ... stay strong with this holdLongby DNA_Trader_Officials2
USOIL BUYCould this be a possible buying opportunity for USOIL? Based on Daily TF, the market is currently stuck in a corrective range. The 2HR TF is showing a reversal chart pattern as there is added confluence of RSI Divergence. Let's see how this is going to play out.Long02:32by WiLLProsperForex2
OIL: Monday closed as First Red Day Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” Let’s jump into the Technical Analysis: WEEKLY TEMPLATE (1hr chart): Yesterday, Monday, the market broke through the previous HOW and failed, closing the day as a first red day. Since the last Wednesday the market pumped up and now look like starting the backside move of a big template of pump and dump DAILY TEMPLATE (15min chart): Asia and London session mostly dumped all the day, breaking the current low of the week THESIS : In the short scenario this market can go fo a range expansion, targeting the previous LOW, it would be my main trading opportunity. In the long scenario, considering money on top at the HOW, I would be targeting the yesterday CP(HOD) or current HOW if strong momentum is presented. SETUP : Short: pump at least into previous LOD(LOW) Long: Low in place, consolidation for 30/45 min and second/third hour NY session reversal Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianniby GianniPichicheroUpdated 101012
Crude oil analysis Crude oil prices are struggling as investors weigh recent hawkish comments from the Federal Reserve despite cooling U.S. consumer inflation data last week. Fed Vice Chairman Michael Barr said on Monday that the Fed is in a good position to keep policy steady and focus on the economy. Cleveland Fed President Loretta Mester said she no longer believes three rate cuts in 2024 are appropriate. She stressed that inflation risks are skewed to the upside and given the strength of the economy, there is no harm in taking more time to collect inflation data. The probability of a 25 basis point rate cut by the Federal Reserve in September fell slightly to 60% from 65% on Monday, according to the CME FedWatch tool. In Canada, the expanded Trans Mountain pipeline (TMX) began commercial operations this month, overcoming years of regulatory delays and construction setbacks. The expansion will transport an additional 590,000 barrels per day from Alberta to Canada's Pacific Coast. Investors are now turning their attention to supply from OPEC and its affiliates (OPEC+). They are scheduled to meet on June 1 to set output policy, which will include a decision on whether to extend voluntary production cuts of 2.2 million barrels per day by some members.by RID_WKUpdated 114
oil (WTI)The right range of purchases with a risk to the right reward! Stabilization stop below 76,800Longby hamed-aghamirzaei3
USOIL's downward trend is obviousOn the daily chart, USOIL is under pressure and downward after encountering resistance from the downward trend line, and the short-term short trend is obvious. At present, the lower support is focused on around 75.5. If it falls below, it is expected to fall further, and the lower support is around 72.0. Pay attention to short selling opportunities in the 78.0-78.6 area during the day.Shortby XTrendSpeed1
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
Buy oil now Oil prices have now entered a buying range. People who were long oil started buying. The target is above 78.3.Longby AA_JackUpdated 15
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 Golden_SpurUpdated 4
WTI CRUDE OIL: Neutral on 4H but at the top of the Channel Down.WTI Crude Oil is neutral on its 4H technical outlook (RSI = 44.657, MACD = -0.100, ADX = 42.834) as it has been trading sideways since the start of the month. Nonetheless, it got rejected yesterday at the top of the Channel Down and the 4H MA100, was where it got rejected last time on April 26th. We are short, aiming a the 1.5 Fibonacci extension (TP = 73.20). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##Shortby InvestingScope7
USOIL PRICE BULLISH SENTIMENT WITH HOPEFUL SIGNS📈USOIL Anylisis 🔍Currently USOIL Finds itself at a crossroads caught between two vitel daily structures. Looking ahead to potential moves here are two scen to watch: 1) Bullish outlook if the market breaks the trend line and seals the deal with a solid close above a hefty resistance line forming a Substantial falling wedge on the dialy chart it might be time to gear up for a bullish ride. Traders could set their sights on a target of at least 78.8500 2) Bearish perspective: on the flip side a Breach of the crucial 76.700 support level could spell trouble for the bulls. This move would signify strong bearish confirmation possibly paving the way for a significant download plunge with a downsides Target of around 79.9500 In essence the fate of USOIL hangs in the balance with traders eagerly awaiting signals of either bullish resurgence 🚀 or Bearish dominace in a head stay tuned for Updates! 📈 Longby MrCharlie145
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
Oil SpringAll ideas are strictly my interpretation of price action. I am not a professional trader nor is this professional advice. I will continually update all trades.Longby THE_APIS_TRADER2
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
Crude rangeboundYesterday morning, crude oil was retesting the upper level of a trading range which has been building since the beginning of this month. This meant that it was also continuing to consolidate with front-month WTI trading within a rough range of $80 to $77.50. The MACD on the daily charts for both WTI and Brent showed that downside momentum was flattening out, and that momentum was starting to turn up. Despite this, both WTI and Brent pulled back from resistance, indicating that neither is yet ready to break out to higher levels. At the same time, prices have found a floor, so the market is going to need a catalyst to shift out of its current range, whether to the downside or upside. It’s difficult to know where that could come from. Geopolitically, the conflict in the Middle East and Ukraine’s war with Russia have done little to affect prices. As far as demand growth is concerned, speculators are looking for signs to confirm that China’s economy has turned around, and want to see further evidence that there will be US rate cuts this year. Later today there’s the weekly inventory update from the US Energy Information Administration.by TylerNorcross1
LONG WTIUSOILAccording to the movements that USOIL has already expected, according to the analysis of the Fibonacci lines, in this range, WTI is going to go up and touch the specified targets. Longby VistaMental5
OIL 20/5/2024 AnalysisDue to serious geopolitical scenario happening in the middle east usoil has a potential tendency to go long. the Israel strike over Rafa and death of iranian president has created a serious tension in the middle east zone which can be affecting the price of black gold the oil. Bullish targets: 79.60 79.80 80.10 bearish targets : 79.00 78.80 supports: 79.23 78.57 78.21 pivot 78.85 resistance 79:85 80.25 until and unless the pivot is not broken oil will continue buy. boost follow and share us for more such trade analysis.Longby realmillionairefxUpdated 4
OIL (WTI) - 4H Sell SetupIn the past hours, OIL (WTI) experienced a sharp rise driven by news of Iran's president's death, which significantly impacted market sentiment. This surge allowed OIL to break above the bearish channel and catch the liquidity over the resistance zone, as illustrated on the chart. However, despite this upward spike, the price action suggests that OIL may continue its downward trajectory within the descending channel. Traders should monitor this closely as the price looks set to resume its fall, adhering to the prevailing bearish trend. The liquidity hunting above the resistance zone indicates potential for further declines as the market reverts to its established downward path.Shortby Sober_TradingUpdated 7
WTI OIL Strong rejection on 1D MA200 but be aware of a break-outWTI Oil (USOIL) made yesterday a strong rejection on the 1D MA200 (orange trend-line), which has been essentially the Resistance since the price broke below it on May 01. Having this level as a Resistance for 3 weeks makes it the strongest sell entry candidate, considering also the fact that this is the top of the 1-month Channel Down, thus a new Lower High. As long as we don't close a 1D candle below the 1D MA200, we will be bearish, targeting 74.00 (-7.75% decline, similar to both previous Bearish Legs of the Channel Down). If we do close a 1D candle above the 1D MA200, we will take the small loss and target 83.00 (the 2.0 Fibonacci extension). The reason for being prepared for a long position as well, is because the 1D MACD formed a Bullish Cross. ------------------------------------------------------------------------------- ** 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 TradingShot11
USOIL SENDS CLEAR BEARISH SIGNALS|SHORT Hello,Friends! USOIL pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 1H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 79.09 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely. ✅LIKE AND COMMENT MY IDEAS✅Shortby EliteTradingSignalsUpdated 113
Us inflation is rising and oil prices are fallingOil prices fell early Tuesday after a report that U.S. inflation was higher than expected reduced the chances of a U.S. interest rate cut. At the same time, Opec maintained its optimistic forecast for oil demand in 2024. West Texas Intermediate (wti) for June delivery fell $0.47 to $78.65. Brent crude, the international standard for July delivery, fell 46 cents to 82.90 dollars. The Bureau of Labor Statistics announced that the producer price index (PPI) rose 0.5 percent in April from March, up from 0.3 percent in the previous month and above the 0.3 percent forecast. Core PPI, which excludes food and energy, rose 0.4%, beating last month's 0.2% and expectations for 0.2%. The data showed that US prices continued to rise above the Federal Reserve's 2 per cent target, reducing the chances of the central bank cutting interest rates from their current 23-year high before the end of the year. The US consumer price index for April, due on Wednesday, is expected to slow to 3.4 per cent from 3.5 per cent in March. As we mentioned in our previous thoughts, the price has fallen and is still trading in the bearish zone, reaching 75.35. Therefore, the bearish trend will continue as long as it trades below 78.78 in the direction of 76.60 and 75.35 by Besttrader-jackUpdated 2
USOIL:Buy@79, target 80Affected by the geopolitical situation, crude oil bulls still take the initiative. Although there was a wave of correction after the failed move to $80, another rise is likely in the short term. Once it breaks through the 80 integer mark, it will continue to test the resistance near $82 upwards. The profit margin is still very large, and it is worth buying during the correction. Don't blindly go short before reaching 82. After all, bulls are now dominant and the risk of going short is high.Longby Get-rich-signalUpdated 4416
OIL TECH ANALYSISPrevious week was kind off Bullish for oil... prices revisited 76.4 lows and pumped from there reaching 79's. Monday started well with a pump in prices till 79.9 followed by a dump till 78.7 levels... which could be and should be considered as a liquidity grab as per the chart. The dump was followed by a beautiful pump (SL's triggered) till 80-.12 levels followed by a dump to 79 78.8 levels. If you check the daily chart you can see a doji. this should be gdd news for bulls. Yesterdays session closed at 79.17. Asia took the price down till 78.8-78.7 levels which is a great level of support for Oil. Oil could dump some 20c and pump from there... we are talking about 78.6-78.5 which is a great support too. Expect prices to surge for the rest of the week.... reach yesterdays dojji and surge till 80.80 levels. This scenario would only be true if prices respext 78.5 levels... if not we can expect the same scenario but from 78 levels.by T_Shelby_010