Usoil up Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude and Brent Crude patterns. Get information on key pivot points, support and resistance and crude oil news today.
WTI US Crude Oil traded closely with the $78.00 handle on Thursday as bullish Crude Oil momentum stopped in its tracks as rising US Crude Oil stocks begin to weigh on energy risk appetite. US Personal Consumption Expenditure inflation came in at expectations but failed to spark renewed hopes for Federal Reserve rate cuts.
Usoilidea
Usoil-Trend analysis
Oil has been in a volatile range recently. The large range is 74-79.5 and the small range is 75.5-78.5. The lowest reached around 76.3 yesterday and the highest today reached around 78.4.
Recently, due to geopolitical reasons, oil has been trending stronger, but it has not broken through the strong resistance point of 79.5 during the OPEC meeting. Therefore, I recently informed my clients that they have been mainly selling. In the volatile range, you cannot do both buying and selling. , if you want to make money on both sides, this will test your skills and your time watching the market.
Before breaking through the range, you can still buy at low levels and sell at high levels based on your funds. As long as you arrange your positions reasonably, you will have a very high possibility of making a profit in the end.
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USOIL up Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude and Brent Crude patterns. Get information on key pivot points, support and resistance and crude oil news today.
In the early hours of Tuesday morning it was confirmed that the 5-year loan prime rate dropped by more than expected, in yet another show of support for not only the Chinese economy but for the real estate sector in particular.
Confirm signal buy USOIL
WTI H1/ Bearish Market Continuation, SHORT TRADE SIGNAL !💲Hello Traders!
This is my idea related to USOIL H1. According to the market structure, I expect a continuation of the bearish market, and at the moment I see a good signal for a short trade as the price reacted from the OB.
My target is the level below the BOSS.
Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective.
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Usoil-analyze
Keep asking me about oil. Last week I emphasized that oil did not fall below 74 and will continue to rise this week
It can be seen that yesterday the lowest oil price reached around 75.8 and the highest reached around 78.2, but it did not break through 78 many times, so it can be judged that the current range is between 75.8-78.2
In an upward trend, you mainly rely on support points to buy, or sell at high levels within the range, and adjust your strategy according to market conditions.
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Usoil-Market trend analysis
Oil is still in an upward trend, wait for the right support point to buy
During the recent period, the highest point of oil was 75.8 and the lowest point was 70.5.
Daily line: 67.71 support point, 79.8 resistance point
4H: 70.5 support point, 76.18 resistance point
These three important resistance points are 76.1-76.7-77.1
I see the possibility of oil bottoming at 70. The upward trend at this stage may reach 78-80. The previous shock range has gradually broken through. At this stage, as long as it does not fall below 74 this week, it is not recommended to trade short orders.
The above is my oil analysis. The market changes rapidly. The prediction needs to be combined with the market trend to achieve expectations. The above analysis is for your reference. I will continue to follow up and share in the future.
Today’s strategy:
Usoil:buy74.5-74.8
TP:75.3-75.8-X
SL:73.8
You can make appropriate adjustments based on your trading habits and funds
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USOIL:Continue longHello friends, Luke here again. As a recipient of several regional trading awards, I'm excited to be part of TradingView where I can share my strategies with you daily, hoping to be of assistance.
I've previously emphasized a bullish target for crude oil at $80. Currently, the upward trend is clear, and dips should be seen as opportunities to go long. The buying zone to focus on is between $77.6 and $76.
I update my market analysis daily and also share precise trading signals within my exclusive group, Luke's Circle, to help you achieve steady and long-term profits in your account. Don't miss out!
USOIL: Continue to Go Long Next WeekHello, friends. I'm Luke, a former champion trader in multiple regions, and I'm delighted to join TradingView to share my strategies with you every day, hoping to provide assistance.
This week, I've analyzed that crude oil is expected to continue rising to the range of $78-80 per barrel. Today, it has reached a high of $77.5 per barrel, and I remain optimistic about the future upward movement of crude oil. If it retraces to the range of $73-75 per barrel, consider going long once again!
I update my market analysis daily and also send accurate trading signals within Luke's small group to help stabilize and sustain profitability in your accounts. Don't miss out!
Usoil-Fluctuate upward
Oil has been fluctuating recently, but it has been supported at 70-71 many times, which is in line with the upward trend. Therefore, if it falls back, you can choose to cooperate with the support point for short-term buying.
Usoil:buy74-74.5
TP:75-75.5-76
SL:73.65
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Monday: Crude oil continues to fluctuate in a rangeOil prices ended slightly higher last week after the International Energy Agency (IEA) and oil producer group OPEC jointly forecast strong growth in global oil demand and cold winter weather disrupted U.S. crude output, while the government reported a sharp weekly reduction in crude oil production.
Crude oil is expected to continue to maintain a volatile trend during the day. The technical aspect will focus on the support near 72, and the upper side will first focus on the resistance near 74.5. Sell high and buy low.
Usoil-range trading
Under the influence of the current conflict in the Red Sea, oil has made a short-term correction under the pressure of a strong US dollar. Technically, the long and short positions have alternated, and it still shows the wide range consolidation trend that has been emphasized recently. The last trading day fluctuated from around 72 and hit a maximum of 73.5. The pressure nearby fell back below 72 as expected, and is now testing the support below again.
Usoil:buy70.2-70.6
TP:71.3-71.7-72
SL:69.7
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Usoil-Has broken through
Oil has risen amid fears of potential supply disruptions amid recent criticism of Yemen's Houthi rebels over a UN resolution on Red Sea navigation
Usoil:buy73.6-74.05
TP:74.5-75
Now that it has broken through the recent range, follow the trend in the short term.
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Monday: Crude oil focuses on the 71/72/74/75 areaOn Monday (January 8), international U.S. crude oil prices traded around $72.85 per barrel. U.S. non-farm employment growth in December exceeded expectations, prompting financial markets to lower expectations for an interest rate cut by the Federal Reserve in March. The risk posed by tensions in the Middle East is an important factor in the price rebound. Geopolitical tensions have pushed up trading premiums, and strong jobs data also pointed to strong fuel demand.
In the 4-hour chart, a wave of decline gave up nearly half of the previous gains. It is currently in the process of confirming the retracement. Bollinger Bands closed, the short-term entered a contraction and shock, and the long-short tug-of-war switched. It is not a strong unilateral market. After the second retracement, pay attention to whether it can start a stable recovery above the low point. If it starts to stabilize, continue to watch the rebound.
On the whole, it is suggested that the day-to-day operation of crude oil should focus on the first-line resistance of 74.0-75.0 at the top and the first-line support at 72.0-71.0 at the bottom.
USOIL: Key position 73-73.4
USOIL is currently near the key resistance level. If it can break through here, it will have the opportunity to form a head and shoulders bottom pattern, and then there is a high probability of reaching around 76.
But if there is no strong breakthrough here, the head and shoulders pattern will fail, and it is highly likely that the support near 72 will be backtested.
Therefore, in the trading starting tomorrow, you can focus on the resistance near 73-73.4 and decide the trading direction based on the breakthrough.
On the 45m chart, the pattern is slightly in favor of the bears, looking ahead to Monday’s market options.
If you encounter problems during transactions, you can leave me a message!
Good luck, everyone!
Thursday:Crude oil narrowed and fluctuated Oil prices fell in volatile trading on Thursday as U.S. crude inventories exceeded expectations and concerns about the Red Sea crisis eased. Crude oil's Xiaoyin cross K-line retraced yesterday and settled flat. In line with the rebound of the previous day's big Yang line, it did not make a further strong reversal upward, but went back down. At present, the daily line is still rebounding based on 69.30 as the bottom. If it does not fall below 69.30 in the short term, it will tend to rebound first. Let’s see if it can start a steady rise today. In the 4-hour chart, a wave of decline gave up nearly half of the previous gains. It is currently in the process of confirming the retracement. Bollinger Bands closed, the short-term entered a contraction and shock, and the long-short tug-of-war switched. It is not a strong unilateral market. After the second retracement, pay attention to whether it can start a stable recovery above the low point. If it starts to stabilize, continue to watch the rebound. Of course, the process will still oscillate repeatedly. For short-term operations, set the time point after the European market, and the final market shape shall prevail. Use the intraday form stuck point to respond flexibly in the ultra-short term. On the whole, it is suggested that the day-to-day operation of crude oil should focus on the first-line resistance of 74.0-75.0 at the top and the first-line support of 71.0-70.0 at the bottom.
Strategy reference: It is recommended to enter the market with multiple orders at 72.2-72.4, plan in advance, and pay attention to updates for more signals↓