USOIL LONGWe buy oil by following the structure, I hope it breaks the upper trend line to increase lotsLongby soychrisalas5
US OIL bearish continuation D1 target 70Breakout trendline daily , heavy selling pressure Target 69.8-70 by AlbertHarmanto2
USOIL BULL ALWAYS Hey there on 1hTF the USOIL has looks further upside From 73 and continue moving forward for again upside Longby DvsTraderfirm0
USOIL: Multi-Timeframe Analysis | Strong Setup FormingI've been exploring through different markets over the past few days, and one thing that really caught my attention was TVC:USOIL So, I decided to share my thought process of how I analyze any market from a top-down perspective while using all timeframes to create a bias. Top-down analysis is always the key element of how I approach any market. This way of viewing the market has really helped me to remove subjectivity when analyzing a pair. Instead of relying on my personal view, I can confidently rely on what the market is showing me regarding trend and zones. Adopting a mechanical perspective has genuinely helped to remove doubt and fear in my overall trading. Now let's get into the top-down process: 12M: 6M: 3M: 1M: 2W: 1W: 1D: Feel free to suggest which market you'd like me to cover next!Longby FractalystUpdated 9
USOIL - Bearish Connective Wave Completing ?USOIL Looks like this is a bearish connective wave completing here and it will have another wave down. It just printed a Shooting Star shakeout through the very long term trendline which also a 0.5 retracement; that is a very common continuation ratio in moderate corrective trends. If it can get to the 1.13 overshoot ratio of the 1:1 extension then it can hit the long term 2018 support. It might just be about to turn quite bearish here. I'll look at this more in the next video later today 👍. Not adviceShortby dRends35Updated 8
USOIL SHORT The price may rise to $82 but could also fall to about $70. 101.9 million barrels of oil will be consumed worldwide per day. By next year, the oil markets appear to be oversupplied. Highlights Lower Russian output and more demand brought on by China's reopening could help oil prices. Low demand and a bleak macroeconomic outlook for China When the Energy Information Administration releases its inventory figures on Wednesday, more oil-related information will be available. - --------------- **First Scenario - Long:** Initial Target: $80.90 Entry: $79.08 Stoploss: $77.47 **Second Scenario - Short:** Initial Target: $74 Entry: $78.34 Stoploss: $79.2 - --------------- After a long wait, I am currently waiting for this pair to give me my confirmation for a Short position (Data) - --------------- Take into consideration: It appears that the market has settled in a range of $79.44 to $76.86, with the 7.68 retracement level above the latter being significant. - --------------- NFA DYOR - --------------- Good Luck! ⚠️Caution: Just because I've set my buy and sell position Settings or drawn direction lines on my chart doesn't indicate I've opened a position or am obsessed with a particular bias. This is only a forecast; I don't trade when the price reaches my level; I have rules of engagement. Perhaps the most crucial element is 🆘RISK MANAGEMENT🆘.Shortby irfanp056Updated 113
USOIL: Continuation of Bullish TrendUSOIL is trading above bullish trend line on 4 hr and daily timeframe. A head & Shoulder pattern appeared at recent high level with bearish divergence on both 4 hr and daily time frame. after completing H&S pattern, USOIL breached bullish trend line and now is trading below this line. if bears get strength in coming days then there is possibility that it may go down up to 73.35 level.Shortby ALIHAMIDUpdated 8
Wti - Us Crude Oil Spot - Important LevelsImportant Levels For WTi Horizontal Lines are Support/Resistance Levels Based on Gann sq9 Price is in a downtrend...Channel was made with help of Gann star angles... we are almost there Near the Bottom for Current wave. 72.7 - 71.9 Strong Support area Good luck Tradingby Magic_xD0
oil collapsing recession coming ?price are going down in vertical line and heading towards big white support zone on recession fear in big economy after yesterday's pmi number EV trend also eating future demand for oil if global recession already began than EV trend after that recession recovery accelerate than oil may face multi year demand destruction by Sangam-Agarwal0
Oil dip on the way?Crude Oil may be losing some of the geopolitical war premium. Signs of weakening economy may not be enough to keep oil uptrend. SP500 (blue line on chart) may also be lining up with the same potential drop in crude oil. Crude Oil 80-81 level is support, breaking that could imply a exention lower to near 75. Shortby optionfarmersUpdated 116
OPEC+ Extends Production Cuts: A Calculated Volatile MoveThe recent OPEC+ meeting on June 2nd, 2024, resulted in a significant decision to extend production cuts. This move by the oil cartel, which includes major oil producers like Saudi Arabia and Russia, aims to navigate a complex economic climate and influence global oil prices. Here's a breakdown of the key takeaways from the meeting: • Extended Cuts of 3.66 Million Bpd Until December 2025: This is the most impactful decision. OPEC+ originally planned to ease these cuts by the end of 2024. However, extending them by a year indicates a commitment to controlling supply and potentially keeping oil prices elevated. • Prolonged Cuts of 2.2 Million Bpd Until September 2024: These deeper cuts, initially set to expire in June 2024, have been extended for an additional three months. This further tightens the supply in the short term. • Phased Out Production Cuts (2.2 Million Bpd) from October 2024 to September 2025: While extending cuts, OPEC+ has acknowledged the need for a gradual return to pre-cut production levels. This measured approach aims to prevent a price shock if all cuts were lifted abruptly. Understanding the reasoning behind these decisions requires looking at the current oil market landscape. Several factors are likely influencing OPEC+'s strategy: • Geopolitical Tensions: The ongoing conflict between Russia and Ukraine continues to disrupt global energy supplies. This disruption, coupled with potential sanctions on Russian oil, has tightened supply and driven prices upwards. OPEC+ may be aiming to maintain a price floor by keeping production cuts in place. • Post-Pandemic Recovery: The global economy is still recovering from the COVID-19 pandemic. While demand for oil is increasing, it hasn't fully reached pre-pandemic levels. OPEC+ might be cautious about increasing supply too quickly, fearing it could outpace demand and lead to a price slump. • Shale Oil Production: The resurgence of shale oil production in the United States is a factor to consider. OPEC+ might be strategically keeping production cuts to maintain its market share and influence over global oil prices. The decision to extend cuts is likely to have a domino effect: • Impact on Oil Prices: Analysts predict that the production cut extensions will likely lead to a continued rise in oil prices. This could benefit oil-producing nations but put a strain on consumers and industries reliant on oil, potentially leading to higher transportation costs and production expenses. • Global Economic Growth: Higher oil prices can dampen economic growth as consumer spending power decreases due to increased energy costs. This is a concern for countries already grappling with inflation. • Shift Towards Renewables: OPEC+'s move to control supply could incentivize a faster transition towards renewable energy sources. Countries looking to lessen their dependence on volatile oil prices might accelerate investments in clean energy alternatives. The future trajectory of the oil market remains uncertain. OPEC+'s decision to extend production cuts is a calculated move to navigate a complex economic climate. While it might benefit oil-producing nations in the short term, it could also have consequences for consumers and the global economic recovery. How this strategy unfolds and how the market reacts will be interesting to watch in the coming months. by bryandowningqln0
USOIL - COT data suggests institutional sellingWhile FXCM and IG retail sentiment remains bullish for USOIL, institutions have started to become bearish from May 20th, with majority of leveraged funds and hedge funds accumulating short positions on WTI, USOIL. This likely means further downside is likely for USOIL. Order book analysis suggests there are plenty of market depth on the DOM at approx. 70.8 levels. Shortby ToshihiroHiramatsu1
Usoil buyUsoil looking perfect time to buy in cheap price 1:2 RR 200 pips target in this analysis keep calm keep hold Longby DNA_Trader_Officials2
Oil ScenarioThis is a simple project that is looking for two possible scenarios in the unfolding of events. The most important phenomenon that will be relevant in analyzing and possibly trading this instrument using the elements in the snapshot, is the price action at the shapes. If coincidences of price action near the shapes or icons occur, we can treat them as potential pivot points, reversal signals. This is very straight forward and easy to trade when a potential Japanese Candlestick reversal pattern forms. You trade in the direction of the signal candlestick, using stop loss below its low, or above its high, and my personal preferred method of trailing stop loss, is to use the highs and lows of newer longer candlesticks in the wave that we are riding, that provide new lower lows or higher highs. /This method is highlighted with purple in the past price action as an example, but other methods can be used, as this is likely to get us out of the position, earlier than the actual end of the wave we are riding. This is a discretionary approach and anyone should use their own knowledge and wisdom of the markets to trade accordingly with their preferred and suitable strategy for their trading account. One other option would be to stay in the position until a tradable reversal signal occurs, reversing the position, but this could encounter duds, where signals are not successful, a case in which you are left out of the market, leaving money on the table. Leaving the position managing aspect aside (which could actually be more relevant than entry points), this project is considering two main scenarios: a short at the green rectangle with relevant price action that might signal a reversal, or a long position taken somewhere at the red rectangle after a bullish engulfing or other candlestick pattern. The rectangles are potential support and resistance zones. The target above 96 might be too bold, but it is important to acknowledge that price action, many times, is much more important than our perception of what should or could happen. What is happening, is much more important than our imagination. /That is why I prefer the Japanese Candlesticks type of analysis, because they tell their own story of reality: highs, lows, momentum, sentiment, etc. by nenUpdated 8
USOIL, D1Oil, looking for drop in this week, while dollar drop is more stronger than oil and th movement is in the same way. Shortby chinghola1
Crude oil focuses on the 77.5 important dividing line Crude oil technical analysis Daily resistance 77.5, support below 74.4 Four-hour resistance 77.5, support below 76 Crude oil operation suggestions: The overall price of crude oil continues to fluctuate downward above the 78 mark, continuing the recent trend of suppressing short positions. Today, the upper resistance focuses on the starting point of the hourly line decline, 77.5-77.8. During the day, we will continue to rely on this position to continue to be short and follow the trend to fall back. The lower target is still concerned about breaking the bottom. The short-term long and short watershed focuses on the 77.5 line. When you first reach this position, you can try to short with a light position, once. SELL:78.5 near SL:79.00 SELL:77.5 near SL:78.00 Technical analysis only provides trading direction! Shortby ActuaryJUpdated 1
Crude oil-retesting supportCrude prices are softer again this morning, with the market continuing with the weakness we saw in the latter half of last week. Yesterday, meetings between OPEC and OPEC+ members concluded much as expected, with the groups agreeing to extend their existing production cuts into next year. The extended output cuts include those voluntary ones agreed by Saudi Arabia and Russia. Oil producing countries remain concerned about the outlook for future demand growth, particularly as expectations for rate cuts from the US Federal Reserve have been pushed back significantly since the beginning of this year. Both Brent and WTI are retesting the lows hit just over a week ago with prices back to levels from which they rallied sharply. As far as front-month WTI is concerned, that saw crude jump from just above $76.00 to just under $80.50 in the space of four trading days. Will history repeat, or will prices break down further from current levels?by TylerNorcross2
WTI Oil H4 | Falling to swing-low supportWTI oil (USOIL) is falling towards a swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 76.59 which is a swing-low support. Stop loss is at 75.93 which is a level that lies underneath a swing-low support and the 100.0% Fibonacci projection level. Take profit is at 78.47 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.Long02:56by FXCM1
WTI Oil Price Unchanged After OPEC+ MeetingWTI Oil Price Unchanged After OPEC+ Meeting The OPEC+ meeting over the weekend did not have a substantial impact on the price of crude oil. As the chart shows, WTI oil opened today at $76.72 per barrel, while on Friday it closed at $76.57 – indicating that the decision made by oil producers is ambiguous. The bullish argument is that restrictions on oil production to maintain its price will continue. According to Reuters, on Sunday, OPEC+ members agreed to extend the production cuts of 3.66 million barrels per day until the end of 2025. The bearish argument is that eight OPEC+ countries have already signalled plans to gradually phase out voluntary cuts of 2.2 million barrels per day from October 2024 to September 2025. Goldman Sachs analysts overall assessed the results of the meeting as more bearish for the market. "The communication of a gradual unwind reflects a strong desire to bring back production of several members given high spare capacity," they wrote. The WTI crude oil chart shows that the market is breaking the upward trend (shown in blue), which we mentioned in our review on 10 May. Since then, bulls attempted to resume the upward trend, but this only resulted in a false breakout of the psychological level of $80 per barrel on 29 May (indicated by an arrow). Afterwards, bears regained control and sharply pushed the price below the lower boundary of the blue upward channel, making the downward channel (shown in red), which began in April, more relevant. According to the technical analysis of the oil chart: → the price is near the median line of the red channel – a sign of temporary equilibrium between supply and demand; → below the current WTI crude oil price is an important level of $75.75, which provided support back at the end of winter. If the bulls attempt a comeback (which would require fundamental drivers), the upper boundary of the downward channel may resist the price. If the geopolitical situation in the Middle East does not escalate, the bears may continue to exert pressure aiming to break the $75.75 level – which would likely slow inflation and benefit the current U.S. administration ahead of the upcoming presidential elections. Start trading commodity CFDs with tight spreads. Open your trading account now or learn more about trading commodity CFDs with FXOpen. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.by FXOpen2214
Crude Oil (WTI) may rise to 77.60 - 78.10Pivot 76.70 Our preference Long positions above 76.70 with targets at 77.60 & 78.10 in extension. Alternative scenario Below 76.70 look for further downside with 76.20 & 75.80 as targets. Comment The RSI is mixed to bullish. Supports and resistances 78.50 78.10 77.60 76.95 Last 76.70 76.20 75.80 Number of asterisks represents the strength of support and resistance levels.Longby Daniel_Thompson2
WTIOILUsoil looking sell momentum continuation already its moved with our analysis route let stay calm 😉 Shortby DNA_Trader_Officials0
USOIL UPDATE (long Term TRENDLINE) Hey team, Hope you are Enjoying our ideas and Analysis Today we are monitoring USOIL Looking for Bullish Long Around 76.490 Once we will Receive any Bullish Conformation the Trade Will be Excuuted Good luck Guy's 🤞Longby XAUUSD-GOLD-PIPS6
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 :-)Longby ShahedZare4