USOUSD Think we could see below 60 today?Community discussions
USOUSD Think we could see below 60 today?
WTI Fundamental Snapshot – Why the Oversupply Grind Continues 🌍🛢️Global oil markets are swimming in excess supply right now. U.S. crude inventories just posted a massive +6.4 million barrel build (way above expectations), pushing total stocks to levels only 4% below the 5-year average despite it being peak refill season.
OPEC+ only added a tiny 137k bpd in December and then hit the pause button entirely for Q1 2026 due to weak seasonal demand – that's a clear signal they see no rush to tighten.
Russian oil keeps flowing despite new sanctions (much of it rerouted or stored on tankers), adding even more floating supply.
Bottom line: Production is growing faster than anyone expected while demand growth stays sluggish → classic recipe for lower prices ahead.
Macro Economic Dashboard – Mixed Bag Tilting Cautious 📊🌎
Fed Funds Rate locked at 3.75%–4.00% after recent cuts; Fed now in wait-and-see mode with no December move guaranteed.
CPI Inflation sitting sticky around 3.0% y/y – cooled a bit but still well above the 2% comfort zone, limiting aggressive easing.
GDP Growth surprisingly strong with Q3 nowcast around 4.0–4.1% annualized – U.S. economy refusing to slow dramatically.
Jobs Market flashing yellow lights: Latest readable NFP only +22k (pre-shutdown data), hiring slowdown evident and unemployment edging higher.
Macro takeaway: Resilient growth but cooling labor = softer oil demand outlook, especially from industrial/transport sectors.
Elliot wave prediction
from now i see a big down trend, maybe driven by the economic reports this days
from now i see a big down trend, maybe driven by the economic reports this days
USOIL Better keep away from a new entry until the inventory data comes in. The last rejection happenned above the 60.70 mark as mentioned in the previous post. But now things seems messy. So waiting seems to be the better option.
SPOTCRUDE 🟢 Bullish Scenario (Primary): A confirmed breakout above 60.800 validates the reversal thesis.[] Entry: 60.850 - 60.900 [] Stop Loss: 60.400 [] Take Profit 1: 61.500 (200 EMA) [] Take Profit 2: 62.100 (Key Supply Zone)
🔴 Bearish Scenario (Alternative): Rejection at the pivot or loss of 60.200 resumes the downtrend.
[] Entry: Below 60.150 [] Target: 59.500
$USOILThe right time to go long!
Idea: Crude oil trading strategy
tradingview.com/x/gfPRFSez/
Idea: Crude oil trading strategy
tradingview.com/x/gfPRFSez/
USOIL creating new support to break the resistance 61.3
USOIL Is there news? not very common for it to move like that in the afternoon
USOIL Consolidating before the burst to 63 :)
WTICOUSD bought at today’s lows. Let’s see