WTI Crude Oil (USOIL) is exhibiting a bearish continuation pattern on the 4H chart, having rejected the $64.58 resistance and forming a lower high. The recent breakdown of bullish structure, coupled with strong bearish momentum, suggests a potential move toward the next key support at $57.80. Today's decline to $61.10 is influenced by reports of Iran's openness to a nuclear deal, which could ease sanctions and increase oil supply, and an unexpected 3.5 million barrel rise in U.S. crude inventories. Traders should consider short positions on pullbacks below $61.20, targeting $60.22 and $59.07, while avoiding long positions unless price reclaims above $63.00 with strong volume. Monitor the $57.80 level for potential support or further breakdown. Stay updated with official news and follow for more trade setups and signals.
Recommendation:
Look for sell opportunities on pullbacks below $61.20
Avoid buying unless price reclaims above $63.00 with strength
Watch for reaction at $57.80 for potential bounce or further breakdown
https://www.tradingview.com/x/bO4pbeOh/
Recommendation:
Look for sell opportunities on pullbacks below $61.20
Avoid buying unless price reclaims above $63.00 with strength
Watch for reaction at $57.80 for potential bounce or further breakdown
https://www.tradingview.com/x/bO4pbeOh/
Trade active
Active Note (For TradingView update or post caption)Update 15 May 2025
Bearish move playing out as expected on 4H. Short entries remain valid below minor structure.
Next key support at $57.80 — if broken, could open doors for deeper downside.
Keep managing risk and wait for clean retest signals.
Trade closed: target reached
Close the target as it hitted the target and wait for our net targets with proper news and signals.for educational purpose only.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.