Get started

Crude Oil WTI

100-SMA challenges Crude Oil buyers at three-week highWTI crude oil has ended its four-day rise as prices fall from their highest level since July 19, due to a slow start on Tuesday morning in Asia. The oil price has moved back from the 100-day simple moving average (SMA). Still, closing above the 200-day SMA, positive MACD signals, and a strong RSI suggest buyers might push prices past the $80.15 mark. If they succeed, the next resistance levels are around $81.40 and $82.50, which will be key for sellers to defend. If oil prices drop below the 200-day SMA support at $77.90, sellers might take control. If prices stay weak and fall below $77.90, they could move towards June and August lows of $72.40 and $71.70. If prices go below $71.70, they could reach the late 2023 low of $67.70. Overall, buyers are likely to stay in control, but the potential for price increases seems limited.
TVC:USOIL
by MTradingGlobal
US OIL APPROACHING FOR TRIPLE TOP US OIL APPROACHING FOR TRIPLE TOP Features and Highlights : US Oil is closed at 77.00 which is near to the earlier top, which is a strong resistance. The price was retracted on 2 occasions at 77.05 and now approaching for Triple Top formation. If the Top is breaches, further rally is expected in short term. The trend line also formed a ascending triangle pattern. If not the Top is breached, the price will be oscillating in this triangle and take break on upward or downward direction of the trend. Interesting to see the developments in the coming days.
TVC:USOIL
by denasridhar
5
Crude Oil rebounds toward 200-SMA as the key week beginsWTI Crude Oil posts more than 1.0% intraday gain early Monday, after declining in the last three consecutive weeks, as energy traders brace for a rollercoaster week comprising multiple central bank announcements and top-tier data. In doing so, the black gold takes clues from a nearly oversold RSI (14) amid cautious optimism in the market. However, bearish MACD signals and the quote’s sustained trading beneath the 200-SMA keep the oil sellers hopeful of visiting the 61.8% Fibonacci retracement of its December 2023 to April 2024 upside, near $75.30. Following that, a seven-month-old upward-sloping support line surrounding $74.40 will be a crucial level for the bears to conquer to keep the reins. In a case where the commodity prices remain bearish past $74.40, it becomes vulnerable to drop toward the previous monthly low of around $72.40. Alternatively, the WTI Crude Oil buyers’ ability to provide a daily close beyond the 200-SMA hurdle of $78.40 won’t give them the throne as a downward-sloping resistance line from early July, close to $79.50, will challenge further advances. Also restricting the commodity’s run-up is the $80.00 threshold and a two-month-old horizontal resistance region near $80.30-60. If the energy benchmark manages to remain strong past $80.60, the 23.6% Fibonacci ratio of around $83.00 and the monthly high of $84.50 will lure the bulls. Overall, the market’s consolidation allows WTI crude Oil to lick its wounds but the bullish trend is far from the reach.
TVC:USOIL
by MTradingGlobal
US OIL SHORTFX:USOILSPOT Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
FX:USOILSPOTShort
by Phinics
Crude Oil retreats from 11-week high as eventful week beginsWTI Crude Oil remains pressured after reversing from an 11-week high the previous day, especially when the US Dollar posts a corrective bounce ahead of this week’s top-tier data/events. The black gold’s retreat also highlights the importance of the support-turned-resistance line stretched from mid-December 2023 and a downward-sloping trend line from late September last year. It’s worth noting that the RSI’s pullback from the overbought territory and the receding bullish bias of the MACD signals also favor the energy benchmark’s latest consolidation. With this, the quote will likely extend the latest fall toward testing the 10-SMA support of $82.50. However, the 50% Fibonacci ratio of the commodity’s late 2023 fall and the 100-SMA, respectively near $81.40 and $80.40, quickly followed by the $80.00 psychological magnet, will challenge the Oil bears afterward. In a case where the prices remain weak past $80.00, an area comprising tops marked from mid-November 2023 to January 2024 near $79.70-25, will be the last defense of the buyers before giving control to the bears. Meanwhile, a downward-sloping resistance line from September 2023, close to $84.10 at the latest, guards the immediate upside of the black gold. Following that, the previous support line from late 2023 will test the oil buyers near $84.70. It’s worth noting, however, that a 9.5-month-old falling resistance line surrounding $86.50 appears a tough nut to crack for the commodity buyers, a break of which will allow them to challenge the yearly high of $87.60. Overall, Crude Oil is likely to witness further consolidation in prices as Fed Chair Jerome Powell’s bi-annual Testimony and the US Consumer Price Index (CPI) loom.
TVC:USOIL
by MTradingGlobal
Impending “Death Cross” lures Crude Oil sellersCrude Oil struggles to defend the previous two-week uptrend early Monday, after reversing from a seven-week high on Friday. Even so, a 13-day-old rising support line restricts the black gold’s immediate downside to around $80.30. Also challenging the energy sellers are the bullish MACD signals and upbeat RSI (14) conditions, not overbought. However, the looming “Death Cross”, a moving average crossover of the 200-SMA to the 50-SMA suggesting a sell-off, joins the firmer US Dollar to lure the WTI crude oil bears. It’s worth noting, however, that the $80.00 threshold and the SMA convergence of around $79.30 will act as the final defenses of the Oil buyers before giving control to the sellers who can aim for the previous monthly low of nearly $76.20 and then the monthly bottom surrounding $72.40. On the flip side, a daily closing beyond the latest peak of $81.75 will aim for the mid-March swing high near $83.10. Following that, late April’s top close to 84.42 and multiple hurdles near $85.00 could test the WTI crude oil buyers before directing them to the yearly high of $87.60. In a case where the energy buyers occupy the driver’s seat past $87.60, the $90.00 psychological magnet and last annual high of $95.00 should gain the attention. To sum up, Crude Oil buyers should wait for a fresh monthly high before adding new positions while the sellers are likely to enter beneath $80.00 and can portray a short-term downside.
TVC:USOIL
by MTradingGlobal
WTI Crude Oil’s pullback appears elusive beyond $78.00WTI crude oil pares the biggest daily gain in a week while posting mild losses near $79.50 early Tuesday. Even so, the black gold holds onto the previous trading beyond the 200-SMA and a downward-sloping resistance line from late April. Also keeping the energy buyers hopeful are the bullish MACD signals and upbeat RSI (14) line. It’s worth noting, however, that a 15-week-old horizontal resistance area surrounding $80.50-81.00 appears a tough nut to crack for the bulls. Following that, the quote will aim for the late April swing high of around $84.50 before challenging the yearly high marked in April near $87.70. Alternatively, the WTI crude oil’s further decline could highlight the seven-week-old resistance-turned-support line surrounding $78.50 for sellers. However, the energy bears remain off the table unless witnessing a clear downside break of the 200-SMA support of nearly $77.90. Following that, the previous monthly bottom of $76.15 will try stopping the downside before allowing sellers to challenge the yearly bottom of $72.48 marked earlier in June. Overall, the WTI Crude Oil price remains on the bull’s radar unless portraying successful trading beyond the 200-SMA. The upside move, however, needs validation from $81.00 and the fundamentals.
NYMEX:CL1!
by MTradingGlobal
US OIL ANALYSISFX:USOILSPOT Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
FX:USOILSPOT
by Phinics
Crude Oil buyers brace for a bumpy road ahead, focus on $79.50WTI Crude Oil picks up bids to reverse the previous day’s retreat from a seven-week-old falling resistance line, close to $78.65 by the press time. In doing so, the black gold recovers from a 50% Fibonacci retracement of December 2023 to April 2024 upside, near $77.70. Given the bullish MACD signals and upbeat RSI conditions underpinning the commodity’s rebound, the buyers are likely to overcome the immediate trend line resistance surrounding $78.65. However, a convergence of the 100-SMA and the 200-SMA, around $79.50 at the latest, appears a tough nut to crack for the energy bulls. Also acting as an upside filter are the $80.00 threshold and late May swing high of $80.60. It should be noted, however, that the quote’s successful trading past $80.60 enables the optimists to aim for the support-turned-resistance line stretched from late 2023, near $83.50 as we write. On the contrary, a daily closing beneath the 50% Fibonacci ratio of $77.70 could quickly fetch the WTI crude oil prices to the previous monthly low of around $76.20. If the black gold remains bearish past $76.20, the monthly bottom of around $72.40 and the $70.00 psychological magnet will lure the sellers. It’s worth observing that the energy benchmark’s sustained weakness past $70.00 could make it vulnerable to a slump toward the previous yearly low of around $63.60. Overall, WTI Crude Oil appears all set to post the biggest weekly gain since early April but a daily closing past $79.50 will be crucial for bulls to retake control.
TVC:USOIL
by MTradingGlobal
2
Long CRUDEOIL | TARGETS 7000 & 7300 in 1-2 monthsBased on technical analysis, I believe crude oil is likely to break through the minor rejection trendline and move upwards towards the higher trendline. At the current stage, our entry point is around 6500, with target levels set at 7000 and 7300. Furthermore, I anticipate that this time it will break through the major trendline, initiating Wave 3 and potentially aiming for 8000. Imp. Note: This analysis is provided for informational purposes only and does not constitute a direct recommendation to buy or sell stocks. Investors should conduct their own research and consult with financial advisors before making any investment decisions, as market conditions and individual circumstances may vary. Market Risk: However, it's important to acknowledge the inherent risks associated with investing in the stock market, including but not limited to volatility, economic downturns, regulatory changes, and unforeseen events that can impact stock prices. It's crucial for investors to remain vigilant and diversify their portfolios to mitigate potential losses.
MCX:CRUDEOIL1!Long
by NaveenTTR