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USOIL H1 | Bullish Bounce offBased on the H1 chart analysis, we can see that the price is falling to our buy entry at 69.65, which is a pullback support Our take profit will be at 70.50, a pullback resistance. The stop loss will be placed at 68.93, which is an overlap support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
2024-12-03 - priceactiontds - daily update - wti crude oilGood Evening and I hope you are well. tl;dr wti crude oil futures - Neutral. Bulls did what they had to, to prevent a flush down to 66. Market traded above 70 and we made a higher low. Bulls would need to print 71.5 for a higher high and I can’t see that happening as of now. Chop between 68 and 70 is most likely here. comment : Midpoint of this triangle is around 69.3 and this will be a magnet until we either make higher highs or lower lows. It’s a trading range, don’t over analyze it. current market cycle : trading range (big triangle on the daily chart) key levels: 66 - 70 bull case: Bulls had a decent day and turned the market completely neutral again. Only above 71.5 they are favored for higher prices. For tomorrow I expect some more sideways price action between 69 and 70.5. Invalidation is below 66.27 bear case : Bears need to keep it below 71.5 or we are making higher highs again. They tried to close below 68 for 4 days and today we saw bears giving up on it. Bears are still favored to keep it inside the triangle, so either play the range or don’t trade at all. Betting on a huge breakout is not a decent strategy after going sideways for so long. Invalidation is above 71.5. short term: Neutral inside the triangle. Area round 70.5 should be huge resistance. medium-long term - Update from 2024-11-10 : Unless an event comes up, this will very likely close around 70 for the year. current swing trade: Nope trade of the day: Could have longed anywhere and made money. 1h 20ema is strong support until broken.
NYMEX:MCL1!
by priceactiontds
Chopping in the Oil: What the Charts and Sentiment Are Tell UsA few words about the sentiment in oil. Graphically, the price is chopping around in a range, and there aren’t any clear indicators on where it might break out. However, there are some signs: the options sentiment shows a slight positive bias, with decent portfolios of vertical spreads targeting above $75 gaining traction, although it’s still pretty questionable. The positions of hedgers and other commercials are close to the maximum levels where we’ve seen reversals in oil prices over the last two years.In other words, the COT reports are also signaling that we’re not likely to head down, or we might see a false breakout followed by a reversal. So, the working hypothesis for now is that oil is close to a local minimum, but the final word will come from the graphical models on the chart. Personally, I’m keeping an eye on an interesting trigger level at $73.47. I’ll be assessing oil’s prospects based on that level.
TVC:USOIL
by ClashChartsTeam
WTI CRUDE OIL: targeting 95.00 with support by the 1M MA100.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 51.599, MACD = -0.340, ADX = 19.425) as the price hasn't practically moved for 3 straight weeks. Even the 1W RSI remains neutral (RSI = 46.004) as the last 4 candles have closed inside the 1M MA50 - 1M MA100 range. The 1M MA100 is basically supporting the pattern since April 2021. As long as it does, chances are will see a strong rebound to the R1 level, a price action much like what followed the 2013 consolidation that pivoted to Leg (4). A similar S1 Zone was supporting on the 1M MA100. Consequently, we turn bullish on WTI expecting a R1 test in the coming months (TP = 95.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
1
USOIL On The Rise! BUY! My dear followers, I analysed this chart on USOIL and concluded the following: The market is trading on 68.11 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 69.36 Safe Stop Loss - 67.32 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. ——————————— WISH YOU ALL LUCK
TVC:USOILLong
by AnabelSignals
4
Oil prices fall despite positive Chinese manufacturing data Oil prices dropped for two consecutive days due to a strengthening dollar despite positive manufacturing data from China. The November Caixin manufacturing PMI in China hit 51.5, surpassing the expected 50.5 and marking the highest level since last June. Attention now turns to the OPEC+ meeting on the 5th, where the group will discuss whether to extend crude oil production increases. Originally, OPEC+ planned to raise production by 180,000 barrels per day starting in January, but concerns about oversupply may delay this decision. After briefly testing the support at 67.60, USOIL rebounded slightly. The price stays within the descending channel, and the gap between both EMAs has widened further, indicating bearish momentum. If USOIL breaks below the channel's lower bound and 67.60, the price may fall further to 64.80. Conversely, if USOIL breaches above both EMAs and the channel’s upper bound, the price could gain upward momentum to 70.00.
TVC:USOIL
by inkicho_exness
WTI Crude Oil 2024: Range-Bound Trends and Key LevelsBig Picture: WTI Crude Oil Futures prices have been largely range-bound for most of 2024 with yearly low of 62.54 and high at 81.75 defining the trading range. Analyzing the Composite Volume Profile since January 2022 reveals that 2024’s price action has been contained within the Composite Value Area High (CVAH) at $79.91 and Composite Value Area Low (CVAL) at $63.57 We further note that while there are many bearish and bullish analyses for crude oil floating from different market analysts, market auction theory and charts point towards further range bound price action for December 2024 and foreseeable 2025 ahead until proven otherwise. OPEC+ meeting is scheduled to take place on December 5th, 2024. It was previously planned to take place on Dec 1st, 2024. The change accommodates the Kuwait Summit, with Saudi Arabia and its allies expected to discuss production quotas—a decision that could influence market dynamics. Additionally, U.S. crude oil production in 2024 has reached record-high levels. Geopolitical issues have not had a major impact on Crude prices as prices remain range bound. Intraday volatility remains amidst geopolitical uncertainty. WTI Crude Oil Key Levels: CVAH : 79.91 CVAL : 63.57 2024 Yearly Mid : 72.15 2024 Yearly Lo : 62.54 2024 CVAH : 75.60 2024 CVAL : 66.97 Market Scenarios: Short Term Resistance (2024 Mid and CVAH) : Price movements toward the upper range (CVAH at $79.91 or $75.60) could signal buyer exhaustion, with limited upside momentum expected. Short Term Support (CVAL and Yearly Low) : Movements toward lower levels (CVAL at $63.57 or $66.97) may indicate seller exhaustion, preventing a significant breakdown. As crude oil remains range-bound, traders should monitor these key levels and the OPEC+ meeting outcomes for potential catalysts. Until then, the market appears set to maintain its current trading range. Disclaimer : The views expressed are personal opinions and should not be interpreted as financial advice. Derivatives involve a substantial risk of loss and are not suitable for all investors.
NYMEX:CL1!
by EdgeClear
#202448 - priceactiontds - weekly update - wti crude oil futuresGood Evening and I hope you are well. tl;dr wti crude oil futures: Bearish. Bears printed 4 consecutive bear bars and made new lows. Next target is 67. Only a daily close above 70 would do it for the bulls but even then the next bear trend line runs below 71. Market is once again forming nested triangles on the daily chart. Tough to trade. Quote from last week: comment: Was also bullish on this and bulls finally came around. Clear break of the bear trend line and next target is 72.6. Is this a very bullish structure? Hell no. I expect more sideways movement just in a bigger range 69 - 72/73 until the bear gap is closed. If bulls somehow manage to close it next week, we can expect 75+ next. Continuation of the current range is much more likely though and that is why you should not over analyze trading ranges. Market is in balance in the midpoint, so mark it and fade the extremes. comment: The most likely outcome was a continuation of the trading range and that’s what we got. Bears are on their way to test 67 again and the market now have formed a head & shoulders pattern like in August where we broke down to make new lows. Most h&s patterns fail and are just continuation patterns. We will likely get the answer to that next week. Anything between 68 and 70 is a dead zone and I will only be interested in longs around 67, if bulls come around again. Shorts do not make sense below 70. current market cycle: trading range key levels: 67 - 72.6 bull case: Horrible week for the bulls with a clear sell signal going into next week. They have to defend 67 or we will likely go down to 66 or 65.74 again. Bulls who bought 67 have made money since September and we have no reason to expect it to be different this time. Daily close above 69 brings 70 and 70.5 in play. Invalidation is below 67. bear case: I do think Monday’s bar was a big bear surprise and market went mostly sideways afterwards. They also had a really good reversal on Friday which is a sell signal going into next week. They want to test the November low 66.27 and break below the very shallow bull trend line to test 65.73 or the lower bull trend line starting December 2023 at around 64. Invalidation is above 71.6. outlook last week: short term: Bullish that we reach 72 but upside is probably limited after that. Pullbacks are likely to be bought if not too strong and if we stay above 68. → Last Sunday we traded 71.24 and now we are at 68. Outlook was just plain wrong and that was already clear on Monday at US open. Market basically went nowhere after that. short term: Neutral 68 - 70 and I doubt we make lower lows below 66. Even if bears push below, downside is likely limited. medium-long term - Update from 2024-11-10: Unless an event comes up, this will very likely close around 70 for the year. current swing trade: None chart update: Nothing worth mentioning.
NYMEX:MCL1!
by priceactiontds
Oil: Time to Short? WTI Set to Plunge Over 10%Hey Realistic Traders, Is Oil About to Crash? Let’s Dive In.... What's the cause of sudden drop in oil prices? U.S. President Donald Trump has pledged strong support for the oil and gas industry, aiming to streamline permits, boost domestic production, and expand drilling on federal lands. He has also criticized renewable energy subsidies and pushed for increased natural gas exports. Aligned with Trump’s stance, the U.S. Energy Information Administration (EIA) has raised its 2023 oil production forecast to 13.23 million barrels per day, surpassing last year’s record of 12.93 million. Global output is also expected to increase, while weaker oil demand from China, driven by slowing economic growth, adds further downward pressure. These policies and projections support the assumption of lower oil prices ahead How much further could they decline?, Let's analyze it using technical analysis! On the daily timeframe, TVC:USOIL is in a bearish continuation phase, potentially entering wave 3 of the trend. It has also broken out of a head-and-shoulders pattern that developed over the past 60+ days, signaling the end of a consolidation phase. This breakout, paired with a bearish marubozu candlestick, strengthens the case for a continued downtrend. Adding to this, the MACD indicator has confirmed a bearish crossover, providing further confirmation of downward momentum. With these signals aligned, we project a potential drop toward the first target of $60.51, and possibly even further to the secondary target of $57.80 This outlook remains valid as long as the price holds above the stop-loss level at $73. Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Oil.
TVC:USOILShort
by financialfreedomgoals101
USOIL Is Going Up! Buy! Here is our detailed technical review for USOIL. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 68.12. Considering the today's price action, probabilities will be high to see a movement to 71.74. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILLong
by SignalProvider
3
Heading into overlap resistance?USO/USD is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit. Entry: 69.81 Why we like it: There is an overlap resistance level that aligns with the 50% Fibonacci retracement. Stop loss: 70.76 Why we like it: There is an overlap resistance level that lines up with the 78.6% Fibonacci retracement. Take profit: 68.37 Why we like it: There is a pullback support level. 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.
VANTAGE:USOUSDShort
by VantageMarkets
WTI - Stability in the Middle East!WTI oil is below the EMA200 and EMA50 in the 4H timeframe and is moving in its downward channel. If the downward correction continues towards the demand zone, the next opportunity to buy oil with a suitable risk reward will be provided for us. Following the ceasefire in Lebanon, U.S. President Joe Biden announced that in the coming days, the United States will work with regional countries, including Turkey, Egypt, Qatar, and Israel, to achieve a ceasefire in Gaza that guarantees the release of hostages and the end of the war.However, he emphasized that such a ceasefire should not allow Hamas to remain in power. U.S. President-elect Donald Trump plans to impose a 25% tariff on imports from Canada and Mexico on his first day in office. This tariff will also include crude oil, with no exceptions considered. Additionally, Trump is preparing another executive order to lift the suspension on liquefied natural gas (LNG) export permits that was implemented under Joe Biden’s presidency. This executive order might require the Department of Energy to approve pending permits or resume reviewing new applications. This move is seen as part of Trump’s early energy policy agenda. Wall Street has expressed concerns about the potential impact of Trump’s second term on oil prices. Analysts suggest that oil producers may try to boost production before stricter regulations from the Biden era return. However, some experts believe that the nature of shale oil production in the U.S. makes long-term supply increases challenging. Unlike OPEC nations, where oil production is often controlled by national oil companies, oil production in the U.S. is divided among major corporations, independent producers, and private companies. This analysis aligns with Goldman Sachs’ outlook. Goldman Sachs has forecasted that U.S. crude oil production will increase by just 500,000 barrels per day this year, down from the 1 million barrels per day increase seen last year. Nevertheless, the U.S. will still account for 60% of non-OPEC oil production growth, with the Permian Basin in North America expected to grow by 340,000 barrels per day—lower than Wall Street’s initial projection of 520,000 barrels. According to Bloomberg, Russia’s seaborne crude oil exports have reached their lowest level in two months. The four-week average of these exports up to November 24 dropped to around 150,000 barrels per day, marking the fourth decrease in five weeks. This decline is largely attributed to a significant reduction in oil flows to India, Russia’s primary buyer, although weekly exports have seen a slight uptick. Additionally, Saudi Arabia, Russia, and Kazakhstan have issued a joint statement emphasizing the importance of market stability and their commitment to voluntary production cuts under the OPEC+ agreement. In this context, Reuters analysts predict that OPEC+ will likely maintain its oil production cut policy for an extended period due to weak global demand. This group, which accounts for nearly half of the world’s oil production, faces challenges in deciding whether to increase or further reduce production. Increasing production is risky under current conditions, while further cuts may be difficult due to some members’ desire to boost output. Meanwhile, rising gas prices have posed significant challenges for European policymakers this winter. Javier Blas, a Bloomberg analyst, believes that Europe has not yet fully faced the realities of the energy crisis caused by Russia’s invasion of Ukraine. He warns that Europe has overly attributed last year’s successes to favorable weather conditions. However, these conditions have changed, and this winter is expected to bring higher gas and electricity prices. This situation places significant pressure on energy-intensive industries, with many large factories either reducing activity or shutting down. Households, too, will face greater inflation due to higher energy costs. These challenges have also put central banks like the European Central Bank and the Bank of England under pressure. Wholesale gas prices in Europe have risen to €47 per megawatt-hour, which is double the February price and 130% higher than the 2010–2020 average.
TVC:USOILLong
by Ali_PSND