OIL ANALYSIS NOT PREDICTIONoil previous one, current crude oil will be demand causing current future only
it will only causing green energy stock flying futuristic .
XTIUSD trade ideas
usoilHere’s a refined description based on your input:
My analysis on crude oil focuses on the **15-minute timeframe**, using pure **price action** to identify key **support levels**. I rely on observing **price movements** to find areas where the market consistently reacts, highlighting potential reversal or breakout points. My approach avoids any indicators, emphasizing **raw market structure** and recent price highs and lows. By analyzing the **strength of these support levels**, I aim to predict future price behavior with accuracy.
USOIL Support and Resistance levels You're referring to the USOIL (West Texas Intermediate Crude Oil) futures contract!
As of my last update, the current price of USOIL is around 68.50-69.50.
Here are some key levels related to the USOIL contract:
Resistance Levels: 70.00, 72.00, 74.00
Support Levels: 66.00, 64.00, 62.00
Fibonacci Levels: 23.6% retracement of the 2020-2022 decline is around 67.40, while the 38.2% level is around 70.80
Trend Lines: The pair has been trending upwards since the March 2020 crash, with a long-term trend line around 42.00
Pivot Points: Daily pivot points: S1-67.15, R1-70.25
Crude Oil on a down hillCrude OIl CMP $67.52
Inverted V is a directional sell signal. Its most imp support is at $65..50/63 . Break of the same will mean further weakness. Its next support is at $44.
In my last post on Feds action I had stated that the real danger is not increasing interest rates by Fed but reducing them. They will reduce interest rates when then they see deflationary threat. The threat is real. I posted CRB index the other day. Crude is an imp component of the Index and it is showing weakness. In its next meet on 18th Sep they have further reduce the interest dates to stoke inflation if crude breaks $63. This will being in the next round of selling in the Equity mkts. So will advice not to be in a hurry to buy. The correction is still not done.
LONG TRADE IN CRUDE OIL - USOILSymbol - USOIL
USOIL is currently trading at 70.92
I'm seeing a trading opportunity on buy side.
Buying USOIL at CMP 70.92
I will be adding more if 69 comes & will hold with SL 67.50
Targets I'm expecting are 75.50 - 78
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!
USOIL LONGusoil now in good buy area
after he try to break 68 -67.600 fail
now should the price pull back for 70s area
US OIL London sessionThis is a place where you can identify the possible movement in mentioned session. Entry activated only when a candle closes above or below the drawn level, And the next candle creates a wick down(for up movement) or up(for down movement) and breaks the candle high or low.
When entry is activated SL will be below or above the 30 minute candle.
US OIL London sessionThis is a place where you can identify the possible movement in mentioned session. Entry activated only when a candle closes above or below the drawn level, And the next candle creates a wick down(for up movement) or up(for down movement) and breaks the candle high or low.
When entry is activated SL will be below or above the 30 minute candle.
crudeoil (Bounce)1)Price on the Monthly Trend line and previous support line which is 67.694(white line)
2)The price has fallen making a significant lower high(77.579). If we count Elliot from this point, the end of the 3rd wave may be at the lower support line.
For this reason, some points may bounce from here to the above yellow trend line.
There is bullish divergence in the hourly time frame of 4th September low or current low.
WTI Crude (XTIUSD) Weekly Technical Chart Analysis 09-13 Sept., 📈 WTI Crude (XTIUSD) Weekly Technical Chart Analysis
📅 Date: 09-13 Sept., 2024
📊 Range Trigger Point: 67.54
📉 Weekly Range: 7.16
🟢 Buy Above: 71.12
💼 Average Position: 70.28
🎯 Buy Target 1: 71.96
🎯 Buy Target 2: 74.70
🔵 Stoploss: 68.73
🔴 Sell Below: 69.44
🎯 Sell Target 1: 63.12
🎯 Sell Target 2: 60.38
🔵 Stoploss: 71.83
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#WTICrude #CrudeOil #OilTrading #CommodityMarket #TradingSignals #TradingTips #TechnicalAnalysis
Oil Support and Resistance Levels Oil trend bearish key levels to watch for
Immeadiate support 67 area if voilates downside 65 to 62 area will open ,in case of rejection it will consolidate in range of 67 to 70 bracket.
Immeadiate resistance is 69 if sustains above it will test 70 to 71.50 - 72 area above and in case of rejection on resistance short till immeadiate support 67 and lower levels marked on chart.
USOIL View!!The oil market looks undersupplied despite concerns over weak Chinese demand growth and prospects that Libyan oil production will soon be restored, according to UBS strategists. Based on falling oil inventories, strong demand growth in India and some European countries, as well as disappointing supply growth from some non-OPEC+ nations, market participants currently seem too pessimistic, the bank says. "While prices are likely to stay volatile in the near term, we retain a positive outlook and expect prices to recover from current levels over the coming months," the strategists say in a note to clients. UBS expects Brent crude to move back above $80 a barrel over the coming months. The international oil benchmark currently trades 0.5% lower at $73.35 a barrel, while WTI is down 0.6% to $69.92 a barrel.
USOIL EmotionINTRO USoil
WTI holds below $73.50 amid slow China demand, halted Libyan exports
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $73.30 on Tuesday. Slowing manufacturing activity in China in August exerts some selling pressure on the WTI price. However, supply concerns surrounding Libya's oil output might cap its downside.
Price Tag
Buy 69.5 to 68.5 SL 67
TP 72 >>> 75 >>> 78
Crude oil Buyin for Target 74.8- 75.5- 76.2- 77-78+ SL below 74 Crude oil Buyin for Target 74.8- 75.5- 76.2- 77-78+ SL below 74
Elliott Wave in WTI Crude OilThe completion of triangle pattern in the ABC correction of Elliott Wave is done.
It cant go lowerGlobally Crude rates are so low
They are not cutting the Petrol and rates of Diesel for consumers, but they are having a blast at the manufacturing end with IOCL and all
Crude sold at 6310 booked at 6250 , make double bottom and fly Disclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
ENTRY -
When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade
SL -
SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low .
TARGET -
Target 1- (T1 : 61.8 %)
Target 2- (T2 : 88.6 %)
Target 3- (T3 : 127.2 %)
Target 4- (T4 : 161.8 %)
Please note:-
It's working on news based and volitile market very well so exit if SL hit
falling broadening wedge in Crude OilThe Crude Oil formed a falling broadening wedge after bouncing from a support level. It gave the breakout and half way to reach the target.
For Paper Trading and Educational Purposes only
Crude we are holding buy from 73 book profit Disclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
ENTRY -
When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade
SL -
SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low .
TARGET -
Target 1- (T1 : 61.8 %)
Target 2- (T2 : 88.6 %)
Target 3- (T3 : 127.2 %)
Target 4- (T4 : 161.8 %)
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Oil Support and Resistance levelsOil forming and inverse head shoulder pattern only valid if this trendline support helds on 76.50 area. if it takes support and continues with pattern oil might see 80 and 82 even 84 with head length again, keep on eye on current levels for breakdown or rejection to upside.
On lowerside if voilates trendline support 76 to 73 can be see below.
Crude In a Big TriangleCrude Moving in big triangle....If breaks huge downside possible...if goes up than targets are above 85 and 100....
