USOIL: Trend in 30 Min timeframePlease pay special attention to the accurate trend, and colored levels.
Its very sensitive setup, ...............<<<<<<<<<<<<<<<<<<<<<<<
Be careful
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USOIL.F trade ideas
USOIL WTI Crude Oil 27 Nov 2024 ZonesBullish zone is above 69.4
Bearish zone is below 68.25
Note: Tis is not a buy/sell call. Use stop loss whenever trade.
Crude steadiesCrude prices were steadier in early trade this morning. This follows on from the hefty pullback seen so far this week which took front-month WTI down below $68 yesterday morning from over $71 early on Monday. The pullback came on hopes of a ceasefire deal between Israel and Hezbollah in Lebanon. This was confirmed yesterday, and came into force this morning. But it is worth noting that hostilities in this area have had no impact on global oil supply, so the sell-off was also technical to some extent. A look at the crude chart shows the steady downside pressure on prices since June 2022. This was when front-month WTI retested the highs from three months earlier when oil topped $120 per barrel following Russia’s invasion of Ukraine. Since then, crude has made a series of lower highs, with the last attempt at an upside breakout topping at $84. Yet there doesn’t appear to be much downside from current levels, as selling pressure seems to exhaust itself once prices get down to $65 or thereabouts. Traders will be wary of being overexposed ahead of tomorrow’s Thanksgiving holiday, particularly given the OPEC+ meeting on Sunday. The group will have to update the market over where it goes on maintaining current output cuts.
USOIL long moveUSOIL chart on the 2Hours timeframe shows the price trading towards a demand zone, indicating bearish pressure after the earlier upside movement. The pair is approaching a key horizontal support level, a significant area that has previously acted as both support and resistance. This level also aligns with the 88.0 Fibonacci Retracement, adding further confluence for potential price reactions.
If the price breaks below this demand zone, it could signal a bearish continuation, as sellers may gain control. However, if the demand zone holds, there is potential for a bullish reversal, leading to a rebound toward the next supply zone.
Usoil and WTI is buy This chart informs about the average forecast prices, and also how close (or far apart) sit the numbers from all participants surveyed that week. The bigger a bubble on the chart means more participants targeting a certain price level in that particular time horizon. This distribution also tells if there is unanimity (or disparity) among participants.Each participant's bias is calculated automatically based on the week's close price and recent volatility. Drawing from those results, this chart calculates the distribution of bullish, bearish, and sideways forecast prices from all participants, informing about sentiment extremes, as well levels of indecision reflected in the number of “sideways”.This measure is basically an arithmetical average of the three central tendency measures (mean, median, and mode). It smooths the typical outcome eliminating any possible noise caused by outliers.
USOIL: Bullish Divergence and Trendline Break on 1-Hour ChartUSOIL has formed a bullish divergence on the 1-hour chart and has already broken the trendline. This setup suggests potential upward momentum.
USOIL - Long Trade Idea + Full Long-Term Pattern Breakdown...In this video, I explore the long-term pattern for crude oil and how it aligns with the current long trade setup.
I also discuss potential scenarios that could unfold once this trade reaches its target. The link to the long trade idea is provided below.
Target: 97.50
Entry: 72.95
Stop\Support Level: 66.69
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.
WTI Crude SellAnticipating another bearish leg within this falling channel pattern. The trend is currently bearish and I would look for sells around 69.22, targeting 67.7.
USOIL Will Go Lower! Short!
Here is our detailed technical review for USOIL.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 68.67.
Considering the today's price action, probabilities will be high to see a movement to 66.63.
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!
Crude Oil OutlookHere is the current outlook on WTI Crude Oil.
We are between supply and demand zones and continuing with the daily trendline.
You could take a small risk inside the demand zone back up to supply by dropping to the lower timeframes and looking for your favorite trend reversal pattern.
Check out the link in my bio for a deeper analysis.
Crude Oil to $72 and then potentially $75Crude Oil to $72 and then potentially $75
Idea would invalidate with a daily close below $68.8
USOIL M30 ANALYSIS Bearish Outlook.
USOIL prices are expected to rise today, driven by a weakening US dollar and increasing demand for crude oil. Geopolitical tensions and supply chain disruptions are likely to support the commodity.
Technical Analysis.
USOIL is trading above the 50-day moving average, indicating a bullish trend. The Relative Strength Index (RSI) suggests oversold conditions, pointing to a potential rebound.
Support and Resistance.
Key support levels are $66.89 and $65.97. Key resistance levels are $69.89 and $71.21.
Trading Strategy.
We recommend a short position in USOIL, targeting $66.89. However, traders should be cautious of potential pullbacks and adjust their strategies accordingly.
BEST WISHES TOM 😎
USOIL 5 WAVE STRUCTURE DOWNIt appears that a five-wave structure to the downside has completed. Now, we anticipate a corrective three-wave structure before the downward trend resumes.
71.25 to stay alive Good afternoon we've bounced from the fib grain sheds below to test fib barn to 79.98 supply /blue . if it needs to test support Oct/ .618 below green demand is mthly support . Red 610 sma R presently daily support suggests a drop to 68.34 / grain sheds .Prev pivot LL LH fur bear
Bias short side on USOIL too.Bias short side on USOIL too. This is not an advice for investment or speculation.
Bulls fasten your seatbelt please Down move incoming.. Sorry Bulls.. Be careful with longs.. Good luck and safe trade🤪
Spotcrude oil (OIL) Short 28.33 R/RShort now Oil , its going to fall wayyy too much!
We are waiting for knew soon which will take the price to new lows!
WTI OIL crucial test on the 4H MA50WTI Crude Oil (USOIL) hit yesterday its 4H MA50 (blue trend-line) and just after it broke, the short-term correction took a pause. As long as it holds, there are higher probabilities of initiating the final rally towards the Resistance Zone. If it breaks though, we expect a test of the upper levels of the Support Zone, before the rebound.
Either way, our Target is $76.00 (the 0.786 Fibonacci retracement level). This is because we believe it is replicating the September bottoming pattern, where after an initial 4H RSI Bullish Divergence (Higher Highs against Lower Lows), the price rose and got rejected back to the Support Zone, only to rebound to the 0.786 Fib of the previous High.
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USOIL VIew!!U.S. crude oil inventories are expected to have decreased by around 5.8 million barrels in the week ended Nov. 22, compared with an increase of 0.5 million barrels the previous week, Macquarie said in a Monday note.
Macquarie forecast a large drop in net imports, with exports lower by 0.3 million barrels per day (b/d) and imports falling 1.9 million b/d. Implied domestic supply is expected to post an increase of 1 million b/d, Macquarie noted.
USOIL - Long Trade Idea - Zig-Zag Wave D...We have a plan to go long on USOIL, targeting either a bounce from wave ii support or a breakout above the previous high.
This move seems to mark the final upward push before a notable downturn, aligning with a measured move for wave (c) of wave D.
A comprehensive analysis of USOIL will follow in the coming days.
Target: 97.50
Entry: 72.95
Stop\Support Level: 66.69
USOIL long movePrice had broken the internal resistance level and move upside, a retracement into the demand zone before continuation of its bullish move is expected.
USOIL H4 | Bullish Bounce Based on the H4 chart analysis, we can see that the price has just bounced off our buy entry at 68.79, an overlap support.
Our take profit will be at 70.62, a pullback resistance.
The stop loss will be placed at 68.02, which is a pullback support.
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