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.
Crude Oil WTI
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.
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
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.
WTI Crude Oil Analysis: Key Levels and $65 Accumulation StrategyThe WTI Crude Oil chart highlights a long-term bearish trend, with price testing key support and resistance zones. Here's a concise breakdown:
Key Levels to Watch
Support Levels: $65.00 (immediate), $61.52, $56.97, $55.00, $51.76, $42.87.
Resistance Levels: $72.80, $78.44, $83.64, $93.40.
Current Opportunity for Swing Trade
Accumulate near $65.00 with a stop-loss slightly below $65.00.
Targets: $69.00, $72.80, $78.44.
Trade Setups
Bullish: Enter on $65.00 support bounce or breakout above $72.80.
Bearish: Short on rejection at $72.80 or breakdown below $65.00.
Market Outlook
Bearish Bias: Break below $65.00 could lead to $61.52 or $56.97.
Bullish Reversal: Break above $72.80 targets $78.44 and beyond.
Crude Oil Futures: Key Levels and Scalp Trade StrategiesThe daily chart of Light Crude Oil Futures (NYMEX) indicates a long-term bearish trend, with key levels offering opportunities for short-term scalp trades.
Key Observations:
Downtrend Resistance: The yellow trendline starting from 2022 highs continues to cap upward movements.
Support Zone: $66.40 is a critical level where buyers repeatedly defend, creating a strong price floor.
Resistance Levels: $72.58, $77.20, and $84.20 serve as major hurdles for upward price action.
Volume: No significant volume spikes currently, but monitor closely for breakout confirmation.
Scalp Trading Opportunities:
1. Long Trade:
Entry: Near $66.40 support on a bounce.
Targets: $69.00 (nearest resistance) and $72.58.
Stop-Loss: Below $65.90.
Why? Buyers consistently hold this level, making it ideal for quick upward moves.
2. Short Trade:
Entry: Near $72.58 resistance after a rejection.
Targets: $69.00 and $66.40.
Stop-Loss: Above $73.50.
Why? Sellers dominate this zone, offering quick pullback opportunities.
Key Points to Watch:
Bearish Breakout: A high-volume breakdown below $66.40 could send prices to $60 or lower.
Bullish Reversal: Breaking the yellow trendline and $77.20 resistance could spark a rally toward $84.20.
Volume Confirmation: Significant volume spikes near key levels (support or resistance) often confirm a breakout or rejection.