USOIL - BULLISH TREND WILL CONTNUE ?Symbol - USOIL
The USOIL has recently experienced a decent correction within its uptrend, which has provided an opportunity for price consolidation before the potential continuation of the bullish trend. This correction has allowed the market to stabilize, and the recent price action suggests that the uptrend is likely to resume, supported by a combination of supply constraints and growing demand expectations.
Geopolitical tensions and OPEC production cuts continue to play a significant role in influencing oil prices, while global economic recovery, particularly in major consuming nations, provides further optimism for sustained demand. These factors are likely to continue supporting oil prices as market participants remain cautious about future supply disruptions. With the recent correction now completed, USOIL appears poised for further upward momentum, especially if these bullish fundamentals continue to hold.
Technically, the key support level to watch is $72.50 - $73.00 If this level is defended by the bulls, the price is likely to push towards the $78.00 - $80.00 range, which represents the next major resistance zone.
Resistance levels: $78.00, $80.00
Support level: $73.00
The price has recently tested the $73.50 support zone. A potential false breakdown could occur here, aimed at capturing liquidity before prices resume their upward trajectory. With the correction phase likely behind us, renewed buying interest in USOIL could drive prices higher as the uptrend continues to unfold.
Oil
USOIL or CRUDEOIL DOwntrend Movement upto 76.5/75.15/74Symbol : USOIL or CRUDEOIL
TIMEFRAME 1HOUR
Analysis DOWNTREND Movement
can expect the target upto 76.5/75.15/74
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
Happy Trading
Updated crudeoil chart for aiming 7000+on 24th November I shared crude oil view with potantial target for 7000+ for upcoming days.
On chart my 1st Target is exactly achieved for 6383 on 3rd January 2025 with making high of it.
Now I made updated some potantial support for Crude Oil.
If it comes towards the zone then Crudeoil aiming up fast for 7000+
otherwise crudeoil try to make sideways zone around 6300-6500 for more days.
OIL bullish for short term upside to 550Hello Everyone,
Have spotted a bullish pattern on the chart that can take the prices to 510-550 in the short while.
Points to note:
> Out of all, Oil sector is showing some strength.
> OIL has seen recovery for the current support levels multiple times in the past.
> Trading above 100EMA with good volumes.
> Hammer spotted
Important leves:
Support: 464
Resistence: 450
Entry Levels: 485-490
Exit Levels: 464 or trail with EMA 100 once it breaches 500 levels.
Risk to Reward: Optimal Entry 485 – Target 550 = Almost 3x Reward to Risk
Crude Oil Ready to Explode: Wave (iii) Targets Sky-High Gains Chart Interpretation
1. Triangle Pattern:
A visible contracting triangle pattern (marked as Wave (ii)) indicates consolidation before a breakout.
Triangles typically occur in Wave 4 or corrective waves (B waves).
Fibonacci Levels:
Fibonacci extensions (1.618, 2.618, 3.618, etc.) are used to project potential targets for Wave (iii), Wave (v), or corrective moves.
1.618 (7,156): A potential target for Wave (iii).
2.618 (8,125): Extended target for Wave (iii).
3.618 (9,094): A stretch target if the trend is powerful.
Current Status:
The chart indicates that Wave (ii) (a corrective phase) is concluding, with a breakout expected into Wave (iii).
Wave (iii) targets are aligned with key Fibonacci levels, showing potential price surges.
2. Future Projection
After completing Wave (iii) and a brief correction in Wave (iv), the price may proceed to Wave (v), likely targeting higher levels.
Post the 5-wave impulse, a corrective A-B-C structure may follow, resetting the trend.
3. Trading Insight
A breakout above the triangle pattern could confirm the start of Wave (iii).
Regards,
SG
OIL INDIA - SWING TRADE ON LONG SIDESymbol - OIL
OIL is currently trading at 420
I'm seeing a trading opportunity on buy side.
Buying OIL Futures at 420
I will add more long position at 410, if comes.
Holding with SL of 397
Targets I'm expecting are 445 - 460 & above.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
CRUDE OIL - Short and Long Oppurtunity in INTRADAY 20 Dec 2024Price break the support line (Black color) formed since 11 Dec and it looks like it is time to Short. Also, Monthly CPR Pivot range comes under the support line so there will be oppurtunity for Long if price touch 8840 and reverses and go inside the channel.
CRUDEOIL 4HR ORDER BLOCK | LONG TRADEHi Trader,
This is crudeoil 4hr POI (point of interset) according to SMC (Smart Money Concept)
Buyers will come at this level. so i expect Buying from this level. 5636-26 After CHoCH (change of character) i will take trade with small SL..
Thank You..
If you Like my anaylsis so give like and Follow me..
Note- Only for education purpose..
CRUDEOIL next move of December expiry CRUDEOIL is in a range of 5900 to 5750 and creating cup & handle pattern, up side move is possible before December expiry as per chart analysis if not get any negetive news, keep and eye on levels.
I am not SEBI REGISTERED analist, This is my personal view only for education purpose.