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(Brent) oil prices to stay supported above the $70 level.We may expect (Brent) oil prices to stay supported above the $70 level for now, as market participants continue to monitor the geopolitical developments," said Yeap Jun Rong, market strategist at IG. The war between Russia and Ukraine in focus after Moscow's nuclear threat Rising tensions between Russia and Ukraine were the biggest support point for Brent, as safe-haven demand rose after Moscow lowered the threshold for nuclear retaliation over Ukraine attacks. By 03:45 ET, U.S. crude futures ( VTI ) were up 0.5% at $69.58 a barrel, while the Brent contract was up 0.4% at $73.61 a barrel. The US embassy in Kiev was closed earlier on Wednesday after warnings of a possible strike.
EASYMARKETS:OILUSD
by actualLizard47993
1
Usoil trade setupWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $69.30 on Wednesday. The WTI price trades flat after Ukraine used US ATACMS missiles to strike Russian territory for the first time. On Tuesday, Russia’s defense ministry said that Ukraine hit a facility in the Bryansk region with six ATACAMS missiles. In response, Russian President Vladimir Putin lowered the threshold for a possible nuclear strike. The rising geopolitical tensions could boost the WTI price for the time being. "This marks a renewed build up in tensions in the Russia-Ukraine war and brings back into focus the risk of supply disruptions in the oil market," ANZ Bank analyst Daniel Hynes said.
TVC:USOIL
by KingForex078
WTI OIL 4H RSI Bullish Divergence sending a strong buy signal.WTI Oil (USOIL) stopped yesterday's rebound on the 4H MA50 (blue trend-line) and is now on a small pull-back. Technically that is the Resistance level it needs to break if it wants to break-out aggressively towards the long-term Resistance Zone. There are high probabilities of doing so, as the 4H RSI formed Higher Lows, which is a Bullish Divergence against the Lower Lows of the price. In fact, it is the exact same formation as the October 01 Low that rebounded aggressively above the 0.786 Fibonacci retracement level. As a result, we are bullish on this one, targeting $76.00 (the 0.786 Fib currently). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
3
USOIL Trend Analysis1. Trend Analysis Zero Lag Trend Indicator: On the M5 and M15 timeframes, the Zero Lag Trend Indicator signals a bearish trend, with the price trading below the Zero Lag EMA and recent bearish crossovers. On higher timeframes like H1 and H4, the trend remains bullish, indicating that the current bearish movement on lower timeframes may be a retracement within the broader uptrend. Multi-Timeframe Confirmation: The alignment of bearish signals on lower timeframes and bullish signals on higher timeframes suggests a potential buying opportunity if the price reaches a significant support level and shows signs of reversal. 2. Key Levels Identification Support and Resistance: Support Levels: $68.50: Recent swing low and a psychological support level. $68.00: A round number and potential strong support. Resistance Levels: $70.00: Previous swing high and potential resistance. $70.50: Another round number and resistance level. Order Blocks: A bullish order block is identified around $68.50, indicating potential institutional buying interest at this level. 3. Liquidity Zones and FU Candles Liquidity Grabs: Potential liquidity exists below $68.50, where stop-loss orders from retail traders may be clustered. FU (Fakeout) Candles: On the M5 timeframe, a bullish FU candle is observed near $68.50, suggesting a possible reversal and trapping of bearish traders. 4. Entry, Stop-Loss (SL), and Take-Profit (TP) Strategy Entry: Long Position: Consider entering around $68.50 after confirming support at $68.50 holds and observing bullish reversal patterns (e.g., bullish engulfing candle). Stop-Loss (SL): Place the SL below $68.00, at $67.50, to protect against potential false breakouts and account for market volatility. Take-Profit (TP): Set the TP at $70.00, near the next significant resistance level, maintaining a 1:3 risk-reward ratio. 5. Example Trade Setup Scenario: Current price: $69.05. Bearish trend on lower timeframes; bullish trend on higher timeframes. Plan: Entry: $68.50 (after confirming support at $68.50). Stop-Loss (SL): $67.50 (below $68.00 support). Take-Profit (TP): $70.00 (near resistance). Risk-Reward Ratio: 1:3, where the risk is $1.00 ($68.50 - $67.50), and the reward is $1.50 ($70.00 - $68.50). 6. Additional Considerations Market News: Monitor economic indicators and news related to oil, such as OPEC meetings and geopolitical events, as they can impact volatility. Risk Management: Risk 1-2% of your trading capital per trade to ensure sustainable trading practices.
FOREXCOM:USOILLong
by priceactionindonesia
Oil prices rebound on geopolitical concerns in Eastern Europe After a week of decline, oil prices rose sharply due to increased geopolitical risks in Eastern Europe, including the possibility of long-range missile attacks. Meanwhile, the IEA has noted a decline in global oil demand due to China's slowing economic growth. They added that this trend may result in an oversupply of 1 million barrels per day in the global crude oil market next year. After testing a trend line, USOIL advanced to 69.00. However, the price remains below both EMAs and still maintains bearish momentum. If USOIL breaks below the trend line again, the price could fall further to the support at 64.80. Conversely, if USOIL breaches above EMA21 and the 70.00 threshold, the price could gain upward momentum toward the resistance at 73.30.
TVC:USOIL
by inkicho_exness
USOIL, Daily Oil prices rose slightly after recent losses, driven by a more positive market tone and a weaker dollar, though concerns over weak Chinese demand and a potential oil surplus in 2024 continued to weigh on the outlook. The market has been volatile due to ongoing tensions in the Middle East and Russia’s intensified strikes on Ukraine while the U.S. is considering easing restrictions on Ukraine’s use of American-made weapons, potentially escalating the conflict further. At the same time, China’s slowing economy is affecting demand, and higher supplies from the U.S. and OPEC+ contribute to expectations of an oversupply next year. On the technical side, the price is currently trading at a major technical support area which consists of an area of price reaction in late September and late October around the $66.8 price area. The Stochastic oscillator is in the extreme oversold levels hinting that there might be a bullish correction coming up in the near short term while the Bollinger bands are starting to expand showing that volatility might be starting to tick up. These indications might be pointing to a bullish scenario in the upcoming sessions with the first area of possible resistance laying around the $70 area which consists of the psychological resistance of the round number as well as an area of price reaction in mid-late October.
TVC:USOIL
by Exness_Official
USOil WTI Bullish 1:2 Trade1. Market Analysis: Asset: US Oil (WTI Crude) Timeframes: 1-hour (1H) and 4-hour (4H) Setup: Bullish divergence observed on both 1-hour and 4-hour timeframes Support Level: Price is near a strong support zone, providing a solid base for a potential bounce. 2. Divergence Details: Bullish Divergence: Both 1-hour and 4-hour charts are showing bullish divergence, indicating weakening bearish momentum as the price approaches strong support. This divergence can signal a potential reversal to the upside if confirmed by bullish price action. 3. Trade Setup: Entry Point: Enter a long position when a bullish confirmation candle forms (such as a bullish engulfing or hammer candle) on the 1-hour chart after divergence confirmation. This candle should close above the support level for a stronger entry signal. Stop-Loss: Place the stop-loss just below the strong support level to protect against further downside risk. This positioning ensures risk is limited in case the support does not hold. Take-Profit: Aim for a 1:2 or higher risk-reward ratio, targeting the next resistance levels on the chart. Consider recent highs or Fibonacci retracement levels on the 4-hour timeframe as potential take-profit areas. 4. Risk Management: Position Size: Determine position size based on risk tolerance, ensuring only a small percentage of capital is risked on this trade (e.g., 1-2%). Risk-Reward Ratio: Aiming for at least a 1:2 risk-reward ratio provides an advantageous setup, enhancing potential reward relative to risk. 5. Additional Confirmation: Volume Analysis: Look for an increase in volume on the 1-hour chart as the price bounces from support to confirm strong buying interest. Support-Resistance Alignment: Ensure the support level aligns well with recent price structure and support zones on higher timeframes to reinforce the strength of this setup. 6. Trade Execution: Place Orders: Set buy orders, stop-loss, and take-profit levels according to the criteria above. Monitor the Trade: Manage the trade by adjusting the stop-loss to break even or trailing it if the price moves strongly in your favor. 7. Review and Adjust: Post-Trade Analysis: After closing the trade, review the outcome to evaluate effectiveness and learn from the trade setup.
FX:USOILLong
by MAAwan
USOIL:Today's short trading strategy Crude oil began to contract delivery, the action of these two days should be relatively large, today's thinking or bearish, weekly line again closed negative, and the center of gravity began to move down, crude oil also fell below the bottom of the hour level, today's rebound continues to empty, do not chase, this position is the bottom of crude oil week, has been volatile for a few weeks; Today the bearish pressure around 68.00 has been broken and is currently around 67.00, the lower target is seen around 66.00. Please do not continue to short after arrival, wait for the market to confirm before trading. Follow me for updates
TVC:USOILShort
by Boooooob