#USOILThe process of purchasing oil according to the analysis in the SMC School from the broken order block areas after signs of a change in the general trend in the weekly and 4-hour time zones.
Oil
USOIL ( BREAKOUT LAST SUPPLY ZONE ) ( 4H )USOIL
HELLO TRADERS
after breakout last supply zone , the price stabilizing up trading , on the Friday price can be breaking supply zone and starting a rising , currently it will be attempt to reach a next supply zone around 78.56 .
Tendency , after price breaking a supply zone , currently price is under upward pressure .
Upward Zone : currently price trying to reach a resistance level (1) at 78.56 , possibly of the price retest a turning level at 76.37 before rising , breaking resistance level (1) with remain this level it continues the upward trend to touch resistance zone between 81.02 and 83.53 .
Downward Zone: by breaking turning level with closing 4h candle below it , the price decline to reach support level (1) 74.76 , after remain below this level we see a downward trend to reach a regions 71.80 and 69.64 .
CORRECTIVE : currently price it will be attempt for retest to reach a turning level at 76.37 before to see upward trend .
TARGET LEVEL :
RESISTANCE LEVEL : 78.56 ,81.02 , 83.53 .
SUPPORT LEVEL : 74.76, 71.80 , 69.64 .
USOIL BEARS ARE STRONG HERE|SHORT
Hello, Friends!
We are going short on the USOIL with the target of 75.00 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band.However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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WTI successfully rebounded for 5 consecutive trading days
Oil prices, which had hit their lowest due to concerns about a slowdown in the US manufacturing economy and job market, stopped falling and rose for five consecutive trading days. As the US labor market shows signs of recovery, concerns related to the US economic outlook have diminished, and worsening geopolitical concerns in the Middle East are also putting upward pressure on oil prices.
In particular, the rebound in US Initial Jobless Claims has somewhat diluted concerns about a decline in oil demand. Last week, Weekly Jobless Claims reached 233K, down 17,000 from the previous week and below market expectations of 241K.
In addition, China's July CPI, which exceeded expectations, also helped improve the recent market mood. China's National Bureau of Statistics announced that the CPI rose 0.5% in July, showing an upward trend for the sixth consecutive month, raising expectations of increased Chinese oil demand.
USOIL reached a bottom of 71.20 and rose for five consecutive trading days, rebounding to the 79.00 level. The price has formed a descending channel since early July, but the recent rebound quickly breached the channel’s upper bound. Moreover, EMA21 has golden-crossed EMA78, sending a typical bullish signal.
If USOIL sustains the current uptrend and breaches the 79.70 resistance, the price may gain upward momentum toward the 81.70 level. Conversely, if USOIL fails to hold above the 78.00 support, the price could fall further to the 76.50 level.
Crude oil Short term view- Go for bullish/Long TradeCrude oil Short term view- Go for bullish/Long Trade
You may plan at the current levels for long
Crude oil Indian market bullish view with minor correctionCrude oil bullish view with minor correction
You can wait to enter long term view there a minor 100 pips correction in 2-3 days and then a big leap towards 6900
Oil crushing it's slippery slope NYMEX:MCL1!
After nearly a month of selling, oil seems to be taking back buyer's momentum that first started on July 17th, 2024 and ended on August 6th, 2024. When the creation of the "W" formed shortly after hitting a 10 min supply area, this signaled the last moments of Oil's sell trend. As we go into this week, we see that oil is still coming in hot to take back supply area's that it created on the 1hr timeframe, but it's due for a pullback. Depending on after market movements, we can possibly see Oil start to pullback to continue making buy structure to the upside. Oil has a good possibility to make it back to the areas of 83.50 and 84.50. Since in current time right now as I'm typing this, Oil has already broken 3 LH's (lower high) that were created between July 22nd, 2024 and August 1st, 2024. We can see pullbacks in the range of 78.84 and 77.12 to potentially see continuation of buying movements. Within this outlook, my current analysis is buyers market until price shows other signs.
WEEKLY FOREX FORECAST AUG 12-16th: USD INDICES GOLD SILVER OILThis is Part 1 of the Weekly Forex Forecast AUG 12-16th.
In this video, we will cover:
S&P500 NASDAQ DOW GOLD SILVER US & UK OIL
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XTIUSD SELLHi fellow traders, XTIUSD is ready to make a move lower from the blue box after completing the ABC correction. Target the 67.86 level. Good luck and trade safe!
CRUDE OIL STRONG RESISTANCE AHEAD|SHORT|
✅CRUDE OIL has been growing recently
And the price seems locally overbought
So as Oil is approaching a horizontal resistance of 80.81$
Price decline is to be expected
SHORT🔥
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USOIL H4 | Pullback resistance at 61.8% Fibonacci retracementUSOIL is rising towards a swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 78.63 which is a swing-high resistance that sits under the 61.8% Fibonacci retracement level.
Stop loss is at 80.70 which is a level that sits above a pullback resistance.
Take profit is at 76.01 which is a pullback support.
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BRIEFING Week #32: Stagflation May be InevitableHere's your weekly update ! Brought to you each weekend with years of track-record history..
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Why are Interest rates falling? Time to buy? We have seen an amazing fall in interest rates.
Bonds have looked to put in a local bottom.
Why are bonds showing signs of accumulation?
Is the bond market pricing in a recession?
I believe the recent decline in yields is due to commodity weakness.
Yields have soften because energy & base metals have become cheaper.
This drives the disinflationary narrative.
I think its to early to tell whether this decline is from demand or global weakness.
Members Daily Analysis Markets move higher, despite no participation from MSFT.
NVDA could rally into earnings.
IWM & KRE looking bearish.
Yield curve still inverted with lower high rejection.
SPY outperforming QQQ
#202433 - priceactiontds - weekly update - wti crude oilGood Evening and I hope you are well.
tl;dr
wti crude oil: Most interesting currently. Bulls got right to the upper bear channel and the daily 20ema. Bears have a do or die moment here. If they fail, we can rally all the way back up to 80 and if bulls fail, we likely test back down to at least 72.
Quote from last week:
comment : Bears are in a hurry and hit my lower target of 73 way ahead of time. My bearish targets are met for now and market is at the bottom of the bear channel and hit a bull trend line. If this won’t hold on Monday/Tuesday, we will see 65 in the next 2-3 weeks. I do think Oil is currently a prime example of why it’s important to learn to read charts and not the f*****g news who wants to tell you every week why Oil is going up due to macro event xyz. Only thing mattering next week is how high the pullback will be to see if we stay inside the triangle or break below. On the weekly/monthly chart the triangle pattern is coming to an end and we will likely see a bigger breakout over the next weeks or months. If this coincides with a macro event, well… You read it here first, many months before the event.
comment: Pullback right to the bear trend line and daily 20ema. As foretold. You welcome. Right. Bullish targets met and do or die moment for bears. Bear trend line has to hold or we stay inside the big triangle and targets above will be 79 and then 80. Not more magic to it.
current market cycle: trading range (triangle) - nested bear trend inside could still be valid if we reverse on Monday
key levels: 70-80
bull case: Bulls kept it above 71.5 and bears gave up on Wednesday. Easy so far. Bulls now need a break above the bear channel and a daily close above it to make most bears cover. If they do that, we will likely see a quick move to 80 again.
Invalidation is below 75.
bear case: Bears need to stay inside the bear channel or the minor bear trend is over. Below 75 I think the odds favor the bears again to trade back to 72 or lower. Given the pattern from the bull trend in June, it’s probably a bit more likely that bears are done for now and we trade back up to 80 but we will find out on Monday.
Invalidation is above 78.
outlook last week:
short term: Neutral and expecting a pullback but need some bull bars first. If market drops below 73, I will scalp short for 70.7 or lower but anything below that is oversold and I’m out.
→ Last Sunday we traded 73.52 and now we are at 76.84. 70.07 did not get hit but short below 73 was still good for 130 ticks. Pullback after, so another banger of an outlook in Oil.
short term: Neutral. Need strong momentum to either side and will join in that direction. Leaning very slightly bullish for a break above 78.
medium-long term: We are seeing the big triangle playing out between 72 and 82/84. The high of the triangle got tested until mid of April and we have now tested the lows around 72.5. We are at the bear trend line and odds favor the bears if they stay below 86.27 for trading back down below 76 again. Update: If we break below 70.67, the triangle is dead and we need to find new support. Will update this again when it happens.
current swing trade: None
chart update: Two legged correction was almost perfect to the tick. It’s done for now and I removed it.
SPY/QQQ/GOLD Plan Your Trade - New Week Aug 12~16+Thank you for all the boosts and likes. I'm trying my best to deliver informative and intelligent information for traders to learn to make their own decisions.
My goal is to teach you the skills to become better at identifying and selecting better opportunities for profits. Not to be right all the time - that's impossible.
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I hope I'm achieving those goals for all of you.
Some of the comments have been wonderfully supportive. Of course I'm not right 100% of the time - no one is. I'm simply trying to provide the best analysis I can to help you plan and prepare for better trades.
This video discusses what I expect from the markets over the next 5~10+ days.
I believe the markets need to retest support before shifting into the new Vortex Rally phase.
We need to watch Gold/Silver, the Transportation Index, Crude Oil, the US-Dollar, and how the SPY/QQQ react over the next 5+ days.
It will be interesting to see how things play out.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
USOIL Technical Analysis! SELL!
My dear friends,
USOIL looks like it will make a good move, and here are the details:
The market is trading on 77.00 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal -75.35
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
———————————
WISH YOU ALL LUCK
USOIL Will Go Down! Short!
Take a look at our analysis for USOIL.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 76.949.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 70.251 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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USOIL BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
Bearish trend on USOIL, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 74.17.
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Long Setup On Oil To Get 500 Pips After Daily Closure !This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
#WTI H4 volatility squueze.I was actually lloking for short opportunities as I was scanning across multiple assets on mulitple time frames, one of my go to indicators TTM was plotting red dots, with positive momo, along with RSI crossing its ma, BB also tight, it was a classic set up, took 12 hours to develop.
WTI USOIL 12H - Oil Edges Down on Thursday WTI Crude Oil Futures Dip Amid Geopolitical Concerns
WTI crude oil futures fell to $74.80 per barrel on Thursday, following a 2.8% increase in the previous session. Investors are concerned about potential retaliatory strikes by Iran against Israel, in response to recent assassinations of Hamas and Hezbollah leaders. Despite these tensions, Iran's president hinted at possible diplomatic efforts to de-escalate the situation during a call with France.
Oil Edges Down on Thursday
Bullish Scenario:
For a bullish trend, the price should stabilize above $75.35, targeting $77.94 and potentially $79.49.
Bearish Scenario:
Stability below $75.35, confirmed by a 4-hour candle close, could lead to a drop towards $73.90 and $72.80.
Key Levels:
- Pivot Line: $75.35
- Support Levels: $73.90, $72.80, $69.80
- Resistance Levels: $77.94, $79.49, $80.73
Today's Expected Range:
The price is anticipated to move between the support at $72.72 and the resistance at $77.95.
previous idea:
USOIL ( BETWEEN TWO TURNING LEVEL ) ( 4H )USOIL
HELLO TRADERS
currently price between two turning level by breaking each level determine the direction , for know the price trading above turning level (2) at 74.74 , remain this level it will be attempt to reach a turning level (1) at 76.25 .
Tendency, the price inside two turning level around ( 74.74 & 76.25$) .
Upward Zone : in order see increase , the price need breaking turning level (1) at 76.25 , by closing 4h candle above it , easily to reach a resistance level (1) around 78.53 , remain this level indicates the price trying to reach of a resistance level (2) at 80,75 .
Downward Zone: by breaking turning level (2) around 74.74 , the price dropping to reach a support level (1) at 72.82, to confirm downward , gold need breaking support level (1) by open 4h candle below it to reach a support level (2) at 71.81 .
TARGET LEVEL :
RESISTANCE LEVEL : 78.53 , 80.75 .
SUPPORT LEVEL : 72.82 , 71.81 .
