XTIUSD_LMAX trade ideas
oil strongly negative oil seems to be strongly negative at the movement and may slide down to 86 levels and can even continue to fall till 64 levels. Trading at the movement is not recommended. one can start accumulating it when reached the blue line i.e (86.18) levels
What 1-hour chart says? Fundamental Development: Oil prices were flat to weaker on Wednesday ahead of a meeting of OPEC+ producers, stabilizing after a drop of 1% in early trade amid fears that a slowdown in global growth would hit fuel demand. Brent crude futures were last down 3 cents, or 0.03%, at $100.51 a barrel. West Texas Intermediate (WTI) crude futures were flat at $94.42 a barrel. The Organization of the Petroleum Exporting Countries and allies including Russia, together known as OPEC+, meet on Wednesday. OPEC+ sources told Reuters last week that the group would likely keep output unchanged in September, or raise it slightly. Ahead of the meeting, OPEC+ trimmed its forecast for an oil market surplus this year by 200,000 barrels per day (bpd), to 800,000 bpd, three delegates told Reuters.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 93.75 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 93.75 to 94 and there is very strong resistance zone at 95.50.
Alternative Scenario: If XTIUSD will trade above 95.50 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 97.50 with the stop loss of 94.
USOIL Trading Plan - 02/Aug/2022Hello Traders,
Hope you all are doing good!!
I expect USOIL to go UP after finishing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
What 1-hour chart says? Fundamental Development: Oil prices edged lower on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as major crude producers meet this week to determine whether to increase supply. Brent crude futures dropped 24 cents, or 0.2%, to $99.82 a barrel, while WTI crude futures eased 10 cents, or 0.1%, to $93.78 a barrel. The slide came after Brent futures slumped on Monday to a session low of $99.09 a barrel, their lowest since July 15. The U.S. crude benchmark dropped to as low as $92.42 a barrel, it is weakest since July 14. The price drops also come as market participants await the outcome of a meeting on Wednesday between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+, to decide on September output. Two of eight OPEC+ sources in a Reuter’s survey said that a modest increase for September would discussed at the Aug. 3 meeting. The rest said output is likely to hold steady.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 94 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 94 to 94.25 and there is very strong resistance zone at 96.
Alternative Scenario: If XTIUSD will trade above 96 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 98 with the stop loss of 95.
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st support:
89.10
Next Zone area & horizontal swing Low support
1st Resistance
120.65
Zone area & horizontal swing high resistance
What 1-hour chart says? Fundamental Development: Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures were down 82 cents, or 0.8%, at $103.15 a barrel. U.S. West Texas Intermediate crude was at $97.44 a barrel, down $1.18, or 1.2%. Fresh COVID-19 lock downs snuffed out a brief recovery seen in June for factory activity in China, the world's largest crude oil importer. The Caixin/Markit manufacturing purchasing managers' index (PMI) eased to 50.4 in July from 51.7 in the previous month, well below analysts' expectations, data showed on Monday.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 98 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 98 to 98.25 and there is very strong resistance zone at 100.
Alternative Scenario: If XTIUSD will trade above 100 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 102 with the stop loss of 98.
USOil 1HJust placed my idea in Position drawing.
Red Zone: Resistance or Breakout Zone
Grey Zone: Repeated Hurdles (Support/Resistance)
Green Zone: Support or Breakdown Zone
Note: BUY above Red Zone
BUY at Green Zone.
SELL at Red Zone or Trail at Grey Zone
Just follow the Entry & Exit. Trail SL after 1:1 to Cost + Brokerage.
What 1-hour chart says? Fundamental Development: Oil up was on Friday morning in Asia. Investors now focus on the Organization of the Petroleum Exporting Countries and allies (OPEC+)’s meeting next week, where the bloc will decide the oil output. Brent oil futures inched up 0.03% to $101.86 and crude oil WTI futures jumped 0.28% to $96.69. Brent is set to climb nearly 5% for the week in its second straight weekly gain, while WTI is on track for a nearly 3% rise for the week, recouping the previous week’s losses. The dollar is softening, which usually leads to a rise in oil, as a weaker dollar makes crude cheaper for buyers holding other currencies.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 97 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 95.75 to 95 and there is very strong support zone at 94.
Alternative Scenario: If XTIUSD will trade below 94 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 92 with the stop loss of 96.
us oil watching level Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk
What 1-hour chart says? Fundamental Development: Oil gained more than $1 a barrel on Thursday, extending gains from the previous session, buoyed by improved risk appetite among investors while lower crude inventories and a rebound in gasoline demand in the United States supported prices. Brent crude futures for September rose $1.20, or 1.1%, to $107.82 a barrel, after gaining $2.22 on Wednesday. U.S. West Texas Intermediate crude (WTI) was at $98.70 a barrel, up $1.44, or 1.5%, after rising $2.28 in the previous session. The U.S. Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point, in line with expectations, to cool inflation, while the dollar fell on hopes for a slower hiking path.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 96.35 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 96.35 to 96 and there is very strong support zone at 94.50.
Alternative Scenario: If XTIUSD will trade below 94.50 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 92.75 with the stop loss of 96.
What 1-hour chart says? Fundamental Development: Oil prices held steady on Wednesday as concerns about weaker demand offset industry data that showed a larger-than-expected draw down in U.S. crude stockpiles. Brent crude futures were at $104.35 a barrel, down 5 cents, or 0.05%. U.S. West Texas Intermediate (WTI) crude rose 9 cents, or 0.1%, to $95.07 a barrel. WTI had climbed nearly $1 earlier in the session. After Tuesday's settlement, industry group the American Petroleum Institute said crude stocks in the United States fell by 4 million barrels last week. He U.S. government's Energy Information Administration releases its weekly oil report later on Wednesday. The Biden administration said on Tuesday it would sell an additional 20 million barrels of oil from the country's Strategic Petroleum Reserve as part of a previously announced plan to tap the facility to calm oil prices boosted by Russia's invasion of Ukraine and a recovery in demand following the COVID-19 pandemic.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 94.80 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 97 to 97.25 and there is very strong resistance zone at 99.
Alternative Scenario: If XTIUSD will trade above 99 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 102 with the stop loss of 97.
(Note- Crude oil Inventory at 8 PM (IST))
What 1-hour chart says? Fundamental Development: Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key oil and natural gas supplier to the region, cut gas supply through a major pipeline. Brent crude futures for September settlement rose $1.66, or 1.6%, to $106.81 a barrel, extending a 1.9% gain in the previous day. U.S. West Texas Intermediate (WTI) crude futures for September delivery increased $1.47, or 1.5%, to $98.17 a barrel, having gained 2.1% on Monday. The U.S. central bank is widely expected to raise interest rates by 75 basis points at the conclusion of its policy meeting on Wednesday. That increase may reduce economic activity and thus affect fuel demand growth.
Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 95.50 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 99 to 99.25 and there is very strong resistance zone at 101.
Alternative Scenario: If XTIUSD will trade above 101 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 103 with the stop loss of 99.
What 1-hour chart says? Fundamental Development: Oil prices dropped on Monday, extending a recent losing streak on concerns that an expected rise in U.S. interest rates would weaken fuel demand. Brent crude futures for September settlement had fallen 67 cents, or 0.7%, to $102.53 a barrel, down for a fourth day. U.S. West Texas Intermediate (WTI) crude futures for September delivery slid 77 cents, or 0.8%, to $93.93 a barrel, also down for a fourth day. Oil futures have been volatile in recent weeks, as traders have tried to reconcile the possibilities of further interest rate hikes, which could limit economic activity and thus cut fuel demand growth, against tight supply from disruptions in trading of Russian barrels because of Western sanctions amid the Ukraine conflict.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 95 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 95 to 95.25 and there is very strong resistance zone at 97.25.
Alternative Scenario: If XTIUSD will trade above 97.25 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 98.75 with the stop loss of 96.
USOILMarket now in strong level of support of previous level and then Target expect at the previous days of key level of 96.030 , This level is the Fibonacci retracement of 50%
What 1-hour chart says? Fundamental Development: Oil prices climbed in Asia trading on Friday, rebounding from previous declines amid supply tightness and geopolitical tensions, even though weakened demand in the United States has cast a shadow on the market this week. Brent crude futures raised $1.61, or 1.6%, to $105.47 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained $1.43, or 1.5%, to $97.78 a barrel. WTI has pummeled over the past two sessions after data showed that U.S. gasoline demand had dropped nearly 8% from a year earlier in the midst of the peak summer driving season, hit by record prices at the pump. In contrast, signs of strong demand in Asia propped up the Brent benchmark, putting it on course for its first weekly gain in six weeks.
Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 96.50 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 97.50 to 97.75 and there is very strong resistance zone at 100.
Alternative Scenario: If XTIUSD will trade above 100 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 102 with the stop loss of 98.
What 1-hour chart says? Fundamental Development: Oil prices fell on Thursday for a second straight session, as demand concerns outweighed tight global supply after U.S. government data showed tepid gasoline demand during the peak summer driving season. Brent crude futures dropped 77 cents, or 0.7%, to $106.15 a barrel by 0427 GMT after slipping 0.4% in the previous session. U.S. West Texas Intermediate crude futures fell 88 cents, or 0.9%, to $99.00 a barrel following a 1.9% drop on Wednesday. Oil prices have been volatile, as traders have had to square tighter global supply because of the loss of Russian barrels following the country's invasion of Ukraine, with recessionary worries that could weaken energy demand.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 99.50 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 99.50 to 99.75 and there is very strong resistance zone at 101.
Alternative Scenario: If XTIUSD will trade above 101 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 102.55 with the stop loss of 99.55.
What 1-hour chart says? Fundamental Development: Oil prices edged down on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product, demand weakens. Brent crude prices for September fell 37 cents, or 0.3%, to $106.98 a barrel, while U.S. West Texas Intermediate (WTI) crude for August slipped 69 cents, or 0.7%, to $103.53 per barrel. The WTI contract will expire later on Wednesday. The more active September WTI contract was at $100.24 a barrel, down 50 cents. Oil prices whipsawed in the previous session, caught in a tug-of-war between supply fears due to Western sanctions on Russia and pressures on indications from central bankers that they will raise interest rates to combat inflation.
Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 98.86 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 98 to 97.75 and there is very strong support zone at 96.
Alternative Scenario: If XTIUSD will trade below 96 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 94.55 with the stop loss of 97.55. ( Note- Crude Oil Inventory Data Time : 8:00 pm IST )
What 1-hour chart says? Fundamental Development Oil prices ran out of steam on Tuesday after gaining more than $5 a barrel in the previous session with concerns that surging crude will feed into a demand-killing recession slightly outpacing continued worries about tight supply. Brent crude futures for September settlement fell 43 cents to $105.84 a barrel. The contract rose 5.1% on Monday, the biggest percentage gains since April 12. WTI crude futures for August delivery dipped 28 cents to $102.32 a barrel. The contract climbed 5.1% on Monday and the largest percentage gain since May 11. The August WTI contract expires on Wednesday and the more actively traded September future was at $98.98 a barrel, down 44 cents.
Short Term Technical View: In 1-hour chart, XTIUSD is trading above upper line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 97.55 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 97.55 to 97.25 and there is very strong support zone at 95.55
Alternative Scenario: If XTIUSD will trade below 95.55 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 93.55 with the stop loss of 97.
What 1-hour chart says? Fundamental Development Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement rose 69 cents, or 0.7%, to $101.85 a barrel, after a 2.1% gain on Friday. U.S. West Texas Intermediate (WTI) crude futures for August delivery edged up 27 cents, or 0.3%, to $97.86 a barrel, after climbing 1.9% in the previous session. The U.S. dollar retreated from multi-year highs on Monday, supporting prices of commodities ranging from gold to oil. A weaker dollar makes dollar-denominated commodities more affordable for holders of other currencies.
Short Term Technical View: In 1-hour chart, XTIUSD is trading above upper line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 94.52 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 94.52 to 94.25 and there is very strong support zone at 92.52
Alternative Scenario: If XTIUSD will trade below 92.52 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 90.52 with the stop loss of 94.
