USOILOil made a major harmonic, we have recently hit first target, we then got a triangle consolidation we now in theory aim for C at 90, we could see price seriously gain momentum next few days/weeks, this will in turn keep inflation sticky, potentially delaying cuts.Longby ZenFlo3
WTI Crude Oil Price Analysis: Trends, Tensions, and TurnaroundsThe WTI light crude oil benchmark is currently navigating a complex landscape, trading around $83.50 amidst a convergence of factors influencing its trajectory. At present, the market finds itself within a critical juncture, characterized by the interplay of supply dynamics, geopolitical tensions, and currency movements. Recent market movements have seen WTI prices facing downward pressure, largely attributed to the resurgence of the US Dollar (USD) and unexpected increases in US crude and gasoline inventories. The hawkish remarks from US Federal Reserve Governor Christopher Waller have bolstered the Greenback, signaling a cautious approach towards interest rate adjustments. Consequently, a stronger USD renders dollar-denominated oil more expensive for foreign investors, thereby curbing demand and exerting downward pressure on WTI prices. Moreover, the Energy Information Administration's (EIA) report revealing a surprising build-up in US crude inventories further compounded the bearish sentiment surrounding WTI prices. This unexpected uptick in stockpiles added to the downward pressure on prices, reflecting a delicate balance between supply and demand dynamics in the market. Despite these bearish indicators, the geopolitical landscape presents a contrasting narrative. Escalating tensions in the Middle East and the ongoing conflict between Russia and Ukraine have injected a degree of uncertainty into global oil markets. The intensified attacks on Russia's oil infrastructure by Ukraine, coupled with ongoing geopolitical unrest, have the potential to disrupt global supply chains and mitigate the downward pressure on WTI prices. Amidst this backdrop, market analysts are closely monitoring key technical indicators for potential market reversals. The presence of an H4 supply area, coupled with the formation of a possible Double Top pattern and overbought conditions signaled by the Relative Strength Index (RSI), suggests the possibility of a reversal in WTI prices. However, the outcome remains uncertain, contingent upon the interplay of market forces and geopolitical developments in the coming days. In conclusion, the WTI crude oil market is navigating a complex web of factors, encompassing supply dynamics, geopolitical tensions, and currency fluctuations. While bearish indicators weigh on prices, geopolitical uncertainties and technical signals hint at the potential for a market reversal. As market participants continue to monitor developments, the future trajectory of WTI prices remains subject to ongoing market dynamics and geopolitical events. Shortby FOREXN1115
Hellena | Oil (4H): Long to resistance area (maximum of wave C).Dear colleagues, I suppose that the upward movement is not over yet! The price is forming Multiple Zigzag. I expect the price to reach the support area at 79.00, having finished wave X, after which I expect the upward movement to continue at least to the resistance area - the maximum of wave C at 83.00. I do not recommend entering short positions! We are looking for a good entry into a long position. Manage your capital correctly and competently! Only enter trades based on reliable patterns!Longby Hellena_TradeUpdated 262657
USOIL BEST PLACE TO SELL FROM|SHORT Hello,Friends! USOIL pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 8H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 79.92 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 EliteTradingSignals118
USOIL Will Grow! Long! Take a look at our analysis for USOIL. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 80.65. The above observations make me that the market will inevitably achieve 81.34 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProviderUpdated 115
Crude oil Bullish Ascending Triangle PatternCurrent setup $81.85 in WTI Crude Oil IS Bullish. Target = $84-$84.5 Support = $80.20 Ascending triangle with Bullish slope HH-HL Green Candle RSI = BullishLongby Rohit_PSVUpdated 114
usoil range adjustment, triangle breakthrough upward Crude oil prices showed a volatile trend yesterday, hitting $80.5 and then began a bullish rebound, with the highest point reaching the 81.4 area. The daily K-line closing showed a hanging bardo pattern of rising and falling. Although the price encountered resistance at the 82 mark, the current daily level is still stable above the 10-day moving average, showing a volatile upward trend. Crude oil prices are currently testing the support of the 80.5 mark, the early rising point. In the future, they may start to retreat at this position and then fluctuate upward again, while the upper resistance is concentrated in the 82.3-82.5 area. The short-term (1H) trend of crude oil is consolidating within the range, and oil prices have rebounded with support near 80.85. From a high-level perspective, the overall trend has formed the prototype of a triangle relay pattern. In the next two trading days of the week, it is expected to form triangle points D and E, and ultimately form a breakthrough to the upside. Crude oil is expected to maintain a consolidation rhythm during the day. oil:sell82-82.3 tp:81.3-81 sl:82.8 by Gavin-analystUpdated 1
Crude Oil (WTI) may rise to 82.25 - 82.80Pivot 81.35 Our preference Long positions above 81.35 with targets at 82.25 & 82.65 in extension. Alternative scenario Below 81.35 look for further downside with 80.90 & 80.55 as targets. Comment The RSI advocates for further upside. Supports and resistances 83.00 82.65 82.25 81.84 Last 81.35 80.90 80.55 Number of asterisks represents the strength of support and resistance levels.Longby Daniel_Thompson3
Crude oil fluctuates frequently, with intraday range operations Looking at crude oil on the daily chart, after reaching a new high of 83.60, oil prices have fallen back and adjusted. The strength of its pullback is limited. The moving average system still maintains a bullish arrangement, and the mid-term objective trend remains upward. It is expected that crude oil will enter a shock adjustment around the high of 83.60, accumulate upward momentum, and continue to move upward. The short-term (1H) trend of crude oil failed to rise and fell again. The continuity of the short-term trend at the beginning of the week was not high, and the short-term objective trend entered a wide range of shocks, with the range ranging from 82.80 to 80.70. In early trading, the oil price fell within the range to the lower half of the range, and the short-term momentum was abundant. It is expected that crude oil will mainly maintain fluctuations within the range during the day, and trades will be entered based on the range operation idea. oil:buy80.5-81 tp:82-81.5 sl:79.8Longby Gavin-analystUpdated 3
USOIL: A long. From US Oil Price Dip to Support ZoneIn the fluctuating energy market, it's wise to identify potential opportunities that arise. With the US Oil price having retreated from its peak at $82.10, experiencing significant overbought conditions, we are now entering an intriguing phase to monitor. Currently, the US Oil price has reached the mark of $80.95, indicating strong signs of a potential reversal. Upon careful chart observation, there appears to be a significant support zone around the $80.5 price range. This is a crucial point to watch for market participants. With the identified support zone, traders and investors can anticipate a potential upward movement in the near term. Reasonable predictions suggest that US Oil has the potential to rebound towards the $81.81 mark. When considering trading decisions, it's important not to rely solely on technical analysis. However, by combining a strong understanding of the fundamental factors affecting the energy market, market participants can make more informed decisions. Thus, at the current juncture, we have an opportunity to capitalize on the potential upside trend from the identified price level. Of course, it's advisable to always keep an eye on market changes and manage risk wisely in every trading decision. Let's watch closely and wisely how this energy market movement unfolds in the upcoming trading sessions.Longby Indonesia1945Updated 6
Falling to overlap support WTI (OIL) has just reacted off the resistance and could fall to overlap support that lines up with the 38.2% Fibonacci retracement. Alternatively, if price breaks above the pivot, it could continue to rise to the next resistance level Pivot: 82.33 Support: 80.91 Resistance: 83.54 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. Shortby ICmarkets2
Usoil-Reasonable decline If oil is above 80, it is still an upward trend. The lowest oil price yesterday was around 80.8, and the current range is about 80-83.5 Published API data showed that U.S. crude oil inventories fell by 1.52 million barrels in the past week, slightly higher than market expectations. Separately, the American Petroleum Institute reported that Cushing crude oil inventories increased by 325 million barrels. In terms of refined oil products, gasoline inventories decreased by 1.57 million barrels, while distillate inventories increased by 0.5 million barrels. You can still buy near the support point and control your position reasonably Following my strategy, your success rate will be greatly increased and trading will be simplerby UnknownUnicorn68604160Updated 1117
WTI - UPDATE - 28 - 03 - 2024"Investors are eyeing an opportunity with a target price (TP) set at 82,800, coupled with a stop-loss point at 80,300, indicating a strategic approach to managing risk and maximizing returns in the market. This vision suggests a calculated investment strategy, where traders are aiming to capitalize on potential gains while mitigating losses. The decision to buy is influenced by not only technical price levels but also the fundamental strength of the asset, possibly reflected in its price-to-earnings (PE) ratio. This approach reflects a blend of technical analysis and fundamental research, highlighting a comprehensive approach to trading or investing."by FdidineYahya2
USOIL POTENTIAL CONTINUATION ABOVE THE KEY LEVELUSOIL is slowly laddering up to the upside inside a bullish channel. Here we expect a bullish breakout and a continuation to take place over the key level formed on top. If the breakout happens as expected we may see a rally towards $90-$93 region.Longby ChampsMoneyConcepts4
WTI Sell Until the morningcheck it - betting the hosue on it, doubled up - see what happensShortby TaylorAimed4Pips1
My Daily View on Crude OIL Hello, We identified a buy signal with high probability on CFDs on WTI Crude OIL in the Daily chart for a target of $84,5 within a few Days. IbrouriLongby Abdessamadibrouri3
USOILUSOIL is in cosolidation phase . Bullish continuation rectangular pattern also form. No sign of reversal here. We wait and watch for the breakout of rectangualar pattern.Longby Naqash914
Oil rise continue upside Hey there on 1htF the USOIL also Looking For Fly to The upside We can next support area see 86$ so now as we continue looking for upside the market has making pressure for every point to make some liquidity and then go upside Longby DvsTraderfirm2
CRUDE OIL TO HIT $160?😳 (2D UPDATE)Oil prices are up 15.76% (1100 PIPS) from our green supply zone, which was posted live for you all. Oil position still running in profit for our bigger Gold Fund investors📈 Buyers still holding strong. GET INTO LONG TERM OIL POSITIONS NOW!!!Longby BA_Investments5
CRUDE OIL TO HIT $160?😳 (12H UPDATE)Oil prices are up 15.76% (1100 PIPS) from our green supply zone, which was posted live for you all. Oil position still running in profit for our bigger Gold Fund investors📈 Buyers still holding strong. GET INTO LONG TERM OIL POSITIONS NOW!Longby BA_Investments4
WTI - SELL For The DayNice nice - bet the house on it, so lets hope my bias is correct or blownShortby TaylorAimed4Pips0
WTISell idea News Structure Fibo zone Usoil Sell price zone 81.321-81.280 TP1: 80.650 Tp2: 79.450 SL: 81.800 Rrr: 3.9Shortby teriforexpremium0
West Texas Intermediate #WTI In the path of the previous analysis, approaching our target, a buy position will be formed with each dropLongby btcsimorg1