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Crude Oil WTI

WTI Poised for a Rally? Key Support Hold Could Send Prices SkywaThe chart indicates that WTI is approaching a critical support zone between $67.60 and $69.40, a level previously tested and held. After forming a consolidation pattern, the price is likely to break upward, heading toward the next resistance at $72.50 and potentially extending to $76.00 if momentum builds. A bullish move would be supported by the price remaining above the $69.40 area, indicating strong demand at these levels. However, if this support breaks, there could be a further downward move towards $67.60. The target zones to watch on the upside are $72.50 and $76.00, with significant resistance around those levels.
BLACKBULL:WTILong
by TopGBanks
Smart Money Positioned to LONG Crude Oil - COT StrategyDISCLAIMER: This is not trade advice. This is for educational purposes only to demonstrate how I am looking to participate in this market. There is significant risk involved in trading, do your own homework and due diligence. COT Strategy LONG Crude Oil (CL) My COT strategy has me on alert for long trades in CL if we get a confirmed bullish change of trend on the Daily timeframe. COT Commercial Index: Buy Signal OI Analysis: Generally last few weeks OI has drifted lower while CM's adding to longs - bullish. CM's approaching extreme long positioning, but not quite there yet. True Seasonal: True seasonal to go up until mid October - bullish. COT Small Spec Index: Buy Signal Front Month Premium - Bullish Supplementary Indicators: %R & Stochastic Remember, this is not a "Long Now" idea. These indicators are not timing tools. They simply tell us that this market could have a move of some significance to the upside, which we will participate in with a confirmed Daily trend change to the upside. Good luck & good trading.
NYMEX:CLZ2024Long
by Tradius_Trades
Crude OIL $UKOIL Classic patternI've seen this pattern many times over the last 5 years on different instruments, and its working out to over 50% The essence of this pattern is a classic triangle with horizontal support, most of the participants realize that we will break down, but not everyone believes that we will take liquidity off the top before going down. An instrument like oil is quite trivial and it can fall without taking liquidity off the top. But I want to share a few examples of my theory working out, where the upper resistance line is broken before the drop-down Best regards EXCAVO
FX:UKOIL
by EXCAVO
6
How to Use Intermarket Analysis? - Crude Oil Potential DirectionAn example of Crude Oil and Palm Oil in my intermarket analysis to demonstrate how I identify potential upcoming trends and why I believe both are about to move. To help narrow down potential opportunities in other markets, you can apply the techniques I am about to share. Micro WTI Crude Oil Futures & Options Ticker: MCL Minimum fluctuation: 0.01 per barrel = $1.00 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
NYMEX:CL1!Long
by konhow
USOIL / TRADING ABOVE DEMAND ZONE IN THE DAILY CHART - 4HUSOIL / 4H TIME FRAME HELO TRADERS The overall trend is uptrend , until trading above demand zone in the daily chart . Current Position Prices are above the demand zone, which is a strong support area. This indicates that the current support level is holding and may lead to a price increase , For an uptrend to be confirmed, prices need to break and stabilize above turning level at 71.82 . Successfully doing so suggests that the bullish momentum is strong enough to push prices towards the next resistance levels at 74.24 and then 76.21. If prices fall below 71.82 and stabilize, it indicates that the support level is no longer effective, potentially leading to a decline , If prices reach 69.18 and a 4-hour or 1-hour candle closes below this level, it suggests a continuation of the downtrend. A further break and stabilization below 68.28 would confirm a sustained bearish trend, indicating further price decreases. KEY LEVELS : TURNING LEVEL : 71.82 . RESISTANCE LEVELS : 74.24 , 76.21 . SUPPORT LEVELS : 69.18 , 68.28 .
TVC:USOILLong
by ArinaKarayi
USOIL Is Going Up! Long! Please, check our technical outlook for USOIL. Time Frame: 8h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 69.81. Taking into consideration the structure & trend analysis, I believe that the market will reach 72.72 level soon. 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. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILLong
by SignalProvider
1
Spot Crude Oil 30-Minute Chart AnalysisStrategy Overview: The chart shows Spot Crude Oil on a 30-minute timeframe, where price action is consolidating around the 70.00 USD level. The market is currently trading in a tight range, suggesting the possibility of an upcoming breakout. Key Levels: Support Levels: The price is finding support at 69.871, which acts as a critical level for potential upward movements. A break below this support could signal further downside momentum, possibly testing lower levels around 69.399. Resistance Levels: The nearest resistance sits at 70.431, where the price may face selling pressure if tested. Further resistance is identified in the 72.00-72.50 zone, marked as a strong supply area. A successful breakout above this resistance could indicate a stronger bullish move in the medium term. Trading Strategy: Buying Strategy: A buy entry can be considered near the support level of 69.871, with a stop loss just below this level. The first target would be the 70.431 resistance zone, and the second target can be the 72.00-72.50 range. Selling Strategy: If the price fails to break above 70.431, a short position can be initiated targeting a pullback towards 69.871. A break below this level would confirm the bearish momentum. RSI Confirmation: The RSI indicator is showing neutral momentum, hovering around the middle range. A breakout above 70.431 may be confirmed if the RSI moves into overbought territory, while a drop below 69.871 could push the RSI toward oversold conditions. Conclusion: With price consolidating between 69.871 and 70.431, this chart suggests both buying and selling opportunities based on how the market reacts to these key levels. The upcoming sessions could see either a breakout above resistance for bullish continuation or a failure that could result in a bearish correction.
PEPPERSTONE:SPOTCRUDELong
by Nigouk
Crude Breaking Down From An Elliott Wave Triangle Crude oil turned down this summer, from the upper triangle resistance trendline, as shown on our daily count, so it looks like more weakness can be coming still this year as drop from 81 unfolded in five waves while pullback to 80.00 can possibly be already completed after recent drop below $70, and now also out of a triangle. So we think that bears are in progress now and that more weakness can be coming within impulsive sell-off. Any near-term bounce can possibly stop at $72.00, a new resistance. Rise above 74 will suggest that break down failed. 
NYMEX:CL1!
by ew-forecast
USOIL / STILL CONTINUES A DOWNTREND - 4HUSOIL / 4H TIME FRAME The overall trend is downward , until trading below turning level at 71.85 . The significant decline in USOIL prices yesterday suggests a bearish momentum, which aligns with the observed price action falling below the critical level of 71.85. This indicates a continuation of the downward trend, making the next support level at 69.81 a logical target. If prices break this support, it would likely trigger further selling pressure, leading to declines toward 68.46 and 66.85, which are key levels of interest based on previous market behavior. On the other hand, for a reversal to the upside, the price needs to break back above 71.85, which currently serves as a turning point. Breaching this level would signal a potential shift in market sentiment, opening the way to test the resistance at 74.24. If the price stabilizes above this resistance, it would reinforce the bullish case, paving the way for further gains toward 76.21 and eventually 77.51. KEY LEVELS : TURNING LEVEL : 71.85 . RESISTANCE LEVELS : 74.24 , 76.21 , 77.51 . SUPPORT LEVELS : 69.81 , 68.46 , 66.85 .
TVC:USOILShort
by ArinaKarayi