[USOIL] Daily breakout for swingAfter a long time in a range, it's probably time for the TVC:USOIL to break through and go for some higher levels.
Here is my plan for now with my first long try.
Great Trade !
USOUSD trade ideas
US OIL Trade Log
WTI Crude Oil 1H Short Setup
Trade Idea:
- Bearish wedge forming with price stalling in the 1H FVG (premium zone).
- Confluence:
- Bearish Divergences: CVD and RSI confirm weakening momentum.
- Macroeconomics: Fundamentals lean bearish; CPI results pose a potential risk.
- Risk-Reward: Tight stop above the FVG. Targeting a 1:2.55 RRR down to liquidity grab zones below $68.
Quick Take:
This setup aligns technical weakness with fundamental caution. Stay nimble with CPI in play—adapt if the macro picture shifts. Target lower liquidity pockets if rejection confirms!
Oil is not a crypto, but they are twins the next 3 monthsOil is not a crypto, but they are twins the next 3 months. Have you ever seen oil price plummeting 2x in just a three month? Then it is the time to see it. Good luck in trades, buddy.
USOIL Potential UpsidesHey Traders, in today's trading session USOIL for a buying opportunity around 69 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 69 support and resistance area.
Trade safe, Joe.
Potential bullish rise?USO/USD has reacted off the support level which is a pullback support that lines up with the 50% Fibonacci retracement and could rise from this level to our take profit.
Entry: 69.13
Why we like it:
There is a pullback support level that line sup with the 50% Fibonacci retracement.
Stop loss: 67.923
Why we like it:
There is a pullback support level that lines up with they78.6% Fibonacci retracement,.
Take profit: 71.51
Why we like it:
There is a pullback resistance level that lines up with the 127.2% Fibonacci retracement.
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The latest crude oil operation suggestionsOverall, the EIA inventory data released last night was -507.3 before and -142.5 after, while the oil price barely rose by 10 points. The idea in the early trading is to determine the strength based on the high point of 70.5 last night. It is recommended to short on the rebound. Crude oil strategy: short on the high point when the rebound reaches 70, with the target at 69.3-68.6.
Bearish drop?WTI/USD has reacted off the resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit.
Entry: 68.74
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retraecment.
Stop loss: 70.41
Why we like it:
There is a pullback resistance level.
Take profit: 67.09
Why we like it:
There is a pullback support level that aligns with the 127.2% Fibonacci extension.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
1012 USOIL is going to break the bottom, down target to 60?Hello traders,
OPEC+ has announced a delay in its planned production increase, with the Organization of the Petroleum Exporting Countries and its allies postponing these plans until April of the following year. Additionally, the timeline for the eventual cancellation of the voluntary production cut of 2.2 million barrels per day has been extended from 12 months to 18 months. Following this announcement, crude oil futures experienced a slight decline on Thursday, reflecting a muted market reaction. According to a report by Gelber & Associates, despite the news, crude oil prices have remained within a stable range. The report highlights that in recent weeks, the potential for news to significantly influence crude oil prices has been notably high. As the year draws to a close, there is considerable uncertainty surrounding the Trump administration, which has contributed to a temporary reduction in oil price volatility.
On the New York Mercantile Exchange, the settlement price for West Texas Intermediate crude fell by 0.4%, settling at $68.30 per barrel. Similarly, Brent crude futures on the Intercontinental Exchange in Europe decreased by 0.3%, reaching $72.09 per barrel.
This environment reflects ongoing dynamics within the oil market, where geopolitical factors and economic policies continue to play critical roles in shaping price movements.
But on the daily chart, usoil has very big problem to break through the downtrend red line and now is being rejected again from EMAs.
Its very possible for usoil to break through the bottom support structure and make a new low.
61.74, FIBO ext 1.27 should be a target after usoil breaking though the bottom.
Good luck!
Less is more!
USOIL Weekly Analysis 9-13 DecemberSo TVC:USOIL continued its fall previous week too.
For the upcoming week, my bets are on the upside, these are the keypoints of observation leading to this.
1. Since last 7 weeks, Crudeoil is stuck in a box range, and also the contracting triangle pattern is in the verge or breaking out / breaking down, so we can expect big moves that would possibly take crudeoil out of this box.
2. Nov 11-15 week, Market consolidated in range, grabbed buyside liquidity first, then the sell side liquidity and the week after that, market gave the one-sided move upwards.
3. From 27Nov till last friday, price formed similar structure where it collected buyside liquidity first, then sellside liquidity in the friday fall.
4. Currently the price is trading near a very important demand zone, so a move towards upside is expected.
5. China's inflation rate and PPI data comes out on Monday 7 Asia session, which can be a trigger for monday move.
6. US CPI data comes out this wednesday, which can act as a major trigger in breaking the trendline resistance above and price moving up to take out liquidity near 72.80$
7. As 25bp rate cut is largely expected in the next Fed meeting, the CPI data will be crucial in taking that decision, and this will weaken the dollar and is bullish for crudeoil, so that could be a major trigger onto breaking the resistance and moving up.
Conclusion:
So there are some key data coming this week, China PPI data and Inflation data which can signal some bullishness if the economy is strong and there is demand and also US CPI data which will also affect crudeoil price.
Technically, we are in a strong demand zone, and as we collected liquidity from buyside and sellside last week, chances are more we head for upside this coming week.
Watch out for resistances at 68$, 69$ and 70$, break of which can lead to nice upside rally.
What are your thoughts?
NB: Not a financial advise, this is just my observation and only for educational purpose.
WTI Oil H4 | Falling to multi-swing-low supportWTI oil (USOIL) is falling towards a multi-swing-low support and could potentially bounce off this level to climb higher.
Buy entry is at 66.90 which is a multi-swing-low support.
Stop loss is at 66.23 which is a level that lies underneath the 127.2% Fibonacci extension level.
Take profit is at 68.51 which is an overlap resistance that aligns close to the 50.0% Fibonacci retracement level.
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WTI Bullish For Next Year?Oil defended himself against lower prices below 70 support zone in all year an that is a key factor for the bullish moment we can have in 2025.
Also OPEC+ lowered the roof to produce million oil barrels for entire 2025 due to lower growth expectations and lower demand. This will pressure the price upwards in most of the time next year as the bloc wants a strong barrel.
Movements that broke the 75 zone level would be a key to a stronger bullish bias for the next year. Otherwise, we have to be careful with movements below the 70 zone that is the stronger barrier we have to stop bearish positions.
USOUSD Oil Long bets. Moving up slowly but surely. Daily TF.
The intraday chart around the 1hr and 2hr is a tad hectic with double / triple top, so the daily chart here has a triple bottom for structure support and a head'n' shoulders pattern which I dont think has triggered quite yet.
This trade I recommended on Monday for a long position and these price levels are a bit of a bargain.
If you wanted to buy in I would be buying the closing candle at 69.20
1 HR chart below. Price is just a nudge under 69 now
USOIL | 4-HOUR TIMEFRAME | TECHNICAL CHARTHello guys, I made TVC:USOIL analysis for you. Please support me by pressing the like button on my analysis.
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CRUDE OIL (WTI): Support & Resistance Analysis
Here is my latest structure analysis and important
supports and resistances on WTI Oil on a daily.
Horizontal Structures
Support 1: 65.2 - 66.9 area
Resistance 1: 67.7 - 62.2 area
Resistance 2: 69.9 - 70.5 area
Resistance 3: 71.2 - 71.5 area
Resistance 4: 72.2 - 72.9 area
Vertical Structures
Vertical Resistance 1: Falling trend line
Consider these structures for pullback/breakout trading.
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USOil - ShortUSOil has broken the previous HL and a bearish divergence is adding confluence, therefore, going Short on USoil. Fundamentally, IEA surplus forecast offsets rate cut optimism may further pull the USOil prices.
USOIL BUY PATTERNHello Traders
What are you thinking about USOIL
In This price will seems as Buy Pattern USOIL As Buy Side Keep eye on it To Buy Price You can see more details in the chart.
Lets like and Share you Minds In Comments .
crude oil longcrude oil
long
Please don't be greedy
ENTRY : yellow point
TP : blue lines
SL :
below red line for LONG position
above red line for SHORT position
INSTRUCTIONS:
For risk and money management:
5% of your wallet for LEV X ≤20
And
3% of your wallet for LEV X ≥ 20
USOIL BULL Triangle The oil chart is showcasing a large triangle pattern within a smaller triangle, and the breakout of the smaller triangle to the upside strongly suggests that the larger triangle will also be broken. This breakout signals the potential to target significantly higher levels.
Additionally, the bottom has been tested approximately four times, with the last test clearing out all liquidity. Now, the chart appears to be gearing up for a major upward move after a prolonged accumulation phase.
As for my perspective, I’m betting on oil’s rise rather than its decline, even though the current triangle formation is typically a bearish (descending) triangle.
The second entry opportunity will present itself after the larger triangle is broken and confirmed through a retest.
Note: I don't care about the count if it right or not don't comment on that please
Nov support or 64.71 Good aft. here's a simpler chart with just fib
from .01 - 129.42 top we've come back to the .5 grain shed again so watching if it holds - Nov closed at 68.11 could bounce Sun night before any test lower . I've been watching it test the 1597 sma (light blue) at 68.32 -2nd support above Nov . LL lower close prev pivot leaves bear option still . keep your stick on the ice -boosting is free hint hint .
US OilUS Oil - Crude Oil
Completed " 12345 " Impulsive Waves
Break of Structure and Retracement
Demand Zone
CHOCH
Falling Wedge as an Corrective Pattern in Short Time Frame
Falling towards pullback support?USO/USD is falling towards the support level which is a pullback support that aligns with the 127.2% Fibonacci extension and could bounce from this level to our take profit.
Entry: 66.96
Why we like it:
There is a pullback support level that aligns with the 127.2% Fibonacci extension.
Stop loss: 65.52
Why we like it:
There is a pullback support level that lines up with the 127.2% Fibonacci extension.
Take profit: 68.66
Why we like it:
There is a pullback resistance level that lines up with the 50% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
CRUDE OIL Local Long! Buy!
Hello,Traders!
CRUDE OIL is approaching a
Horizontal support of 66.37$
And after the retest a local
Bullish rebound and a move
Up is to be expected
Buy!
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USOIL Potential DownsidesHey Traders, in today's trading session we are monitoring USOIL for a selling opportunity around 70 zone, USOIL is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 70 support and resistance area.
Trade safe, Joe.
