WTI is still not done. This WTI up move is being very constructive & structured. very bullish
The down moves have little to no structure and when it appeared at resistance it was quickly denied and used as support. very bullish
OILUSD trade ideas
(Brent) oil prices to stay supported above the $70 level.We may expect (Brent) oil prices to stay supported above the $70 level for now, as market participants continue to monitor the geopolitical developments," said Yeap Jun Rong, market strategist at IG.
The war between Russia and Ukraine in focus after Moscow's nuclear threat
Rising tensions between Russia and Ukraine were the biggest support point for Brent, as safe-haven demand rose after Moscow lowered the threshold for nuclear retaliation over Ukraine attacks.
By 03:45 ET, U.S. crude futures ( VTI ) were up 0.5% at $69.58 a barrel, while the Brent contract was up 0.4% at $73.61 a barrel.
The US embassy in Kiev was closed earlier on Wednesday after warnings of a possible strike.
20-11 OilThe unrest in the world is causing more use of raw materials. Since the beginning of this week, after the tension between the US and Russia increased again, oil has been rising. We are now entering with a small position and will increase this as the long trend increases further. First entry point 70.035.
Hellena | Oil (4H): Short to 100% Fibo lvl 62.238.Colleagues! If we believe the wave pattern, the price is now in a strong impulsive downward movement.
I believe that the price will renew the lows and rush to the area of 100% Fibonacci extension to the area of 62.238.
Wave 3 lower wave should be completed there.
But we should not forget that the price is in wave 3 of the higher and middle order, which means that there are more chances for a downward movement!
There are 2 possible courses of action:
1) The riskier one is to open a short position on the market.
2) Conservative - wait for the price to rise, and enter with less risk.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
WTI H1 | Bullish Reversal Based on the H1 chart analysis, we can see that the price is falling to our buy entry at 68.24, which is a pullback support close to 50% Fibo retracement
Our take profit will be at 70.11, a pullback resistance.
The stop loss will be placed at 66.95, which is an overlap support level.
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Usoil trade setupWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $69.30 on Wednesday. The WTI price trades flat after Ukraine used US ATACMS missiles to strike Russian territory for the first time.
On Tuesday, Russia’s defense ministry said that Ukraine hit a facility in the Bryansk region with six ATACAMS missiles. In response, Russian President Vladimir Putin lowered the threshold for a possible nuclear strike. The rising geopolitical tensions could boost the WTI price for the time being. "This marks a renewed build up in tensions in the Russia-Ukraine war and brings back into focus the risk of supply disruptions in the oil market," ANZ Bank analyst Daniel Hynes said.
Buy opportunity on USOIL Toward 71$Hello,
We've identified a huge current opportunity to buy USOIL with a high probability and a favorable risk-reward ratio of over 2 in the 2-hour chart. Our target is $71 within a few days (Swing trade).
Ibrouri
Will Oil see a rally in December and give an EOY push?Oil is in a cool spot right now where bulls have and are continuing to buy the dip around $67/brl. If this continues this can be a local bottom for the winter IMO as crude seasonally has a strong December/EOY.
Seasonality doesn't always have 1:1 correlations but over 30 years it has shown a strong positive correlation to an upward move in Oil and energy.
Oil Market Outlook: Bearish Options FlowA few words about the prospects of oil through the lens of options trading.
The sentiment is leaning more bearish than bullish. We're seeing a surge in vertical spreads and butterflies on puts, targeting the $65-60 range for February-March 2025.
If we look at the charts, the price action resembles a 'settling' at the support level of $65-66.
It’s looking like we might see a support break, potentially a swift one, which could send prices down to a lower range, just like we've seen in the past.
But for now, this is just a theory based on price action and the options flow.
USOIL:Long after the pullback trading strategy
Crude oil yesterday is also strong pull up, the overall bullish thinking and expectations are consistent, coupled with the contract delivery today, crude oil will be likely to break through the previous strong pressure 69.40 this position, crude oil thinking is also low bullish;
Asia-europe session is expected to shock before pulling higher, pay attention to 68.5-68.3 support, in addition to the previous crude oil inventory data is also positive, crude oil may enter a wave of bulls. Upper targets see 69.4-70.6
USOIL Technical Analysis! BUY!
My dear friends,
Please, find my technical outlook for USOIL below:
The instrument tests an important psychological level 66.90
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 69.70
Recommended Stop Loss - 65.24
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
WTI OIL 4H RSI Bullish Divergence sending a strong buy signal.WTI Oil (USOIL) stopped yesterday's rebound on the 4H MA50 (blue trend-line) and is now on a small pull-back. Technically that is the Resistance level it needs to break if it wants to break-out aggressively towards the long-term Resistance Zone.
There are high probabilities of doing so, as the 4H RSI formed Higher Lows, which is a Bullish Divergence against the Lower Lows of the price. In fact, it is the exact same formation as the October 01 Low that rebounded aggressively above the 0.786 Fibonacci retracement level.
As a result, we are bullish on this one, targeting $76.00 (the 0.786 Fib currently).
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USOIL Trend Analysis1. Trend Analysis
Zero Lag Trend Indicator:
On the M5 and M15 timeframes, the Zero Lag Trend Indicator signals a bearish trend, with the price trading below the Zero Lag EMA and recent bearish crossovers.
On higher timeframes like H1 and H4, the trend remains bullish, indicating that the current bearish movement on lower timeframes may be a retracement within the broader uptrend.
Multi-Timeframe Confirmation:
The alignment of bearish signals on lower timeframes and bullish signals on higher timeframes suggests a potential buying opportunity if the price reaches a significant support level and shows signs of reversal.
2. Key Levels Identification
Support and Resistance:
Support Levels:
$68.50: Recent swing low and a psychological support level.
$68.00: A round number and potential strong support.
Resistance Levels:
$70.00: Previous swing high and potential resistance.
$70.50: Another round number and resistance level.
Order Blocks:
A bullish order block is identified around $68.50, indicating potential institutional buying interest at this level.
3. Liquidity Zones and FU Candles
Liquidity Grabs:
Potential liquidity exists below $68.50, where stop-loss orders from retail traders may be clustered.
FU (Fakeout) Candles:
On the M5 timeframe, a bullish FU candle is observed near $68.50, suggesting a possible reversal and trapping of bearish traders.
4. Entry, Stop-Loss (SL), and Take-Profit (TP) Strategy
Entry:
Long Position: Consider entering around $68.50 after confirming support at $68.50 holds and observing bullish reversal patterns (e.g., bullish engulfing candle).
Stop-Loss (SL):
Place the SL below $68.00, at $67.50, to protect against potential false breakouts and account for market volatility.
Take-Profit (TP):
Set the TP at $70.00, near the next significant resistance level, maintaining a 1:3 risk-reward ratio.
5. Example Trade Setup
Scenario:
Current price: $69.05.
Bearish trend on lower timeframes; bullish trend on higher timeframes.
Plan:
Entry: $68.50 (after confirming support at $68.50).
Stop-Loss (SL): $67.50 (below $68.00 support).
Take-Profit (TP): $70.00 (near resistance).
Risk-Reward Ratio:
1:3, where the risk is $1.00 ($68.50 - $67.50), and the reward is $1.50 ($70.00 - $68.50).
6. Additional Considerations
Market News:
Monitor economic indicators and news related to oil, such as OPEC meetings and geopolitical events, as they can impact volatility.
Risk Management:
Risk 1-2% of your trading capital per trade to ensure sustainable trading practices.
Oil prices rebound on geopolitical concerns in Eastern Europe
After a week of decline, oil prices rose sharply due to increased geopolitical risks in Eastern Europe, including the possibility of long-range missile attacks. Meanwhile, the IEA has noted a decline in global oil demand due to China's slowing economic growth. They added that this trend may result in an oversupply of 1 million barrels per day in the global crude oil market next year.
After testing a trend line, USOIL advanced to 69.00. However, the price remains below both EMAs and still maintains bearish momentum. If USOIL breaks below the trend line again, the price could fall further to the support at 64.80. Conversely, if USOIL breaches above EMA21 and the 70.00 threshold, the price could gain upward momentum toward the resistance at 73.30.
USOIL, Daily
Oil prices rose slightly after recent losses, driven by a more positive market tone and a weaker dollar, though concerns over weak Chinese demand and a potential oil surplus in 2024 continued to weigh on the outlook. The market has been volatile due to ongoing tensions in the Middle East and Russia’s intensified strikes on Ukraine while the U.S. is considering easing restrictions on Ukraine’s use of American-made weapons, potentially escalating the conflict further. At the same time, China’s slowing economy is affecting demand, and higher supplies from the U.S. and OPEC+ contribute to expectations of an oversupply next year.
On the technical side, the price is currently trading at a major technical support area which consists of an area of price reaction in late September and late October around the $66.8 price area. The Stochastic oscillator is in the extreme oversold levels hinting that there might be a bullish correction coming up in the near short term while the Bollinger bands are starting to expand showing that volatility might be starting to tick up. These indications might be pointing to a bullish scenario in the upcoming sessions with the first area of possible resistance laying around the $70 area which consists of the psychological resistance of the round number as well as an area of price reaction in mid-late October.
WTI CRUDE OIL Strong rally about to start.WTI Crude Oil made a Double Bottom around 67.00 and rebounded back to test the 1hour MA200.
This is an identical pattern with the October 1st Double Bottom that was formed after a 1hour Death Cross.
The 1hour Golden Cross should be enough to confirm the start of a strong rally.
Buy and target 78.00 (just under Resistance A).
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OIL short idea 1H time frameLooking to sell OIL
Entry : 67.99
Stop : 68.66
Take profit : 66.18
RR : 1:2
SpotCrude.. Against Trend but Strong Support
SpotCrude is being supported on Weekly and Daily time frames.
Break above 4H trend line. This might be the first sign
More better confirmation will be when we break above 4H key resistant zone.
But be cautious since the overall trend is down
USOil WTI Bullish 1:2 Trade1. Market Analysis:
Asset: US Oil (WTI Crude)
Timeframes: 1-hour (1H) and 4-hour (4H)
Setup: Bullish divergence observed on both 1-hour and 4-hour timeframes
Support Level: Price is near a strong support zone, providing a solid base for a potential bounce.
2. Divergence Details:
Bullish Divergence: Both 1-hour and 4-hour charts are showing bullish divergence, indicating weakening bearish momentum as the price approaches strong support. This divergence can signal a potential reversal to the upside if confirmed by bullish price action.
3. Trade Setup:
Entry Point: Enter a long position when a bullish confirmation candle forms (such as a bullish engulfing or hammer candle) on the 1-hour chart after divergence confirmation. This candle should close above the support level for a stronger entry signal.
Stop-Loss: Place the stop-loss just below the strong support level to protect against further downside risk. This positioning ensures risk is limited in case the support does not hold.
Take-Profit: Aim for a 1:2 or higher risk-reward ratio, targeting the next resistance levels on the chart. Consider recent highs or Fibonacci retracement levels on the 4-hour timeframe as potential take-profit areas.
4. Risk Management:
Position Size: Determine position size based on risk tolerance, ensuring only a small percentage of capital is risked on this trade (e.g., 1-2%).
Risk-Reward Ratio: Aiming for at least a 1:2 risk-reward ratio provides an advantageous setup, enhancing potential reward relative to risk.
5. Additional Confirmation:
Volume Analysis: Look for an increase in volume on the 1-hour chart as the price bounces from support to confirm strong buying interest.
Support-Resistance Alignment: Ensure the support level aligns well with recent price structure and support zones on higher timeframes to reinforce the strength of this setup.
6. Trade Execution:
Place Orders: Set buy orders, stop-loss, and take-profit levels according to the criteria above.
Monitor the Trade: Manage the trade by adjusting the stop-loss to break even or trailing it if the price moves strongly in your favor.
7. Review and Adjust:
Post-Trade Analysis: After closing the trade, review the outcome to evaluate effectiveness and learn from the trade setup.
WTI Trade idea. Longterm Setup formingI quickly breakdown the trade I caught this morning. continuation of fridays plays
OIL (extremely bearish)watch the 65$ level if broken i think oil will spiral down to 52$ then ultimately to 30$ with 17$ a possibility in case of a recession
USOIL:Today's short trading strategy
Crude oil began to contract delivery, the action of these two days should be relatively large, today's thinking or bearish, weekly line again closed negative, and the center of gravity began to move down, crude oil also fell below the bottom of the hour level, today's rebound continues to empty, do not chase, this position is the bottom of crude oil week, has been volatile for a few weeks;
Today the bearish pressure around 68.00 has been broken and is currently around 67.00, the lower target is seen around 66.00. Please do not continue to short after arrival, wait for the market to confirm before trading. Follow me for updates
Oil Swing Back to $77My next trade on oil is looking to be around 15% Mid term and about 7% for the short term as we see price idling at support levels to swing back to $72
