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WTI Light Crude Oil

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Crude oil trading reminder: triple positive support 💡Message Strategy After three consecutive days of sluggishness, both U.S. and Brent crude oil remained above the 100-day moving average on Thursday (July 24). U.S. crude oil is currently up 0.4%, trading around 65.46; Brent crude oil is currently up 0.1%, trading around US$68.67 per barrel. The three engines of trade negotiations, unexpected decline in inventories, and geopolitical games are ignited at the same time. Oil prices showed signs of stabilizing, allowing bulls to "smell" the long-awaited rebound opportunity. 1. The trade war breaks the ice: the US, Japan and Europe have reached a series of agreements to ignite market hopes. 2. Inventories plummeted by 3.2 million barrels! The balance of supply and demand suddenly tilted. 3. Geopolitical black swan: The war between Russia and Ukraine burns the energy supply chain 📊Technical aspects The short-term (4H) trend of crude oil fluctuated upward slightly. The moving average system gradually formed a bullish arrangement, and the short-term objective trend direction was upward. In terms of momentum, the MACD indicator opened upward above the zero axis, and the bullish momentum was sufficient. In terms of form, the oil price broke through the neckline, and the head and shoulders bottom reversal pattern was established. It is expected that after the intraday crude oil trend retests the neckline position, the probability of forming another upward rhythm is high. 💰Strategy Package Long Position:65.50-66.50，SL：64.00，Target:67.75-68.00
TVC:USOILLong
by TheodoreSilas
WTI remains supported on Russia sanctions threatIt is worth keeping an eye on the energy markets, given the recent bounce from a key support area around $65.00. With WTI moving back above the 200-day average at $68.00, this is an additional bullish sign from a technical standpoint. This level is now the first support to watch, followed by $67.00 and then that $65.00 key level. Resistance comes in at $70.00 followed by $72.80. From a macro point of view, President Trump’s decision to bring forward the deadline for Russia to agree to a ceasefire has ever so slightly heightened the prospect of secondary sanctions being imposed on foreign purchasers of Russian crude — namely China, India, and Turkey. There is a risk we could see a spike in oil prices, if fears of Russian supply being curtailed, intensifies. At the same time, fears about demand have receded with the announcement of a few trade deals by the US and recent economic data from Europe and the US both showing mild strength. By Fawad Razaqzada, market analyst with FOREX.com.
FOREXCOM:USOIL
by FOREXcom
USOIL: Next Move Is Up! Long! My dear friends, Today we will analyse USOIL together☺️ The market is at an inflection zone and price has now reached an area around 65.029 where previous reversals or breakouts have occurred.And a price reaction that we are seeing on multiple timeframes here could signal the next move up so we can enter on confirmation, and target the next key level of 65.579.Stop-loss is recommended beyond the inflection zone. ❤️Sending you lots of Love and Hugs❤️
FX:USOILLong
by FreeXauusdSignals
WTI crude consolidation ahead of US Inventory figuresWest Texas Intermediate (WTI) crude futures hovered near $66.30 during Wednesday’s European session, trading in a narrow range as investors awaited the latest US EIA crude inventory report. Market expectations point to a 1.4 million barrel drawdown, which would signal stronger demand and potentially support prices. However, crude failed to rally despite confirmation of a US-Japan bilateral trade agreement, announced by President Trump via Truth Social. While the deal is seen as a positive for global trade sentiment, broader oil demand concerns persist—especially if US-EU trade negotiations stall, which could dampen growth in major consuming regions. Conclusion: Oil markets remain in consolidation mode, with near-term direction likely hinging on EIA inventory results. A larger-than-expected draw could offer upside momentum, but macro-level trade uncertainties continue to cap gains. Key Support and Resistance Levels Resistance Level 1: 6830 Resistance Level 2: 6940 Resistance Level 3: 7045 Support Level 1: 6500 Support Level 2: 6435 Support Level 3: 6370 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
TRADENATION:WTI
by TradeNation
WTI Crude Oil Breaks Out of Symmetrical Triangle, $73-$76 ZoneThe WTI Crude Oil chart shows a strong breakout from the symmetrical triangle pattern that was forming for several weeks. Price has decisively broken above the descending resistance trendline and is now testing the $70–$71 area, which aligns with the 0.382 Fibonacci retracement level (around $70.27) and an important horizontal resistance ($71.03). This breakout indicates strong bullish momentum, supported by the recent series of higher lows and a sharp upward move in recent sessions. If price sustains above $69.05 (previous breakout zone), we could see a bullish continuation towards $73.40 (0.118 Fibonacci) and potentially to $76.00–$76.50, which is the upper resistance block marked on the chart. However, if the price fails to hold above $69.00, there could be a pullback to retest the broken triangle resistance around $67–$68 before any next bullish leg. Weekly Chart The weekly chart of WTI Crude Oil is showing a long-term downtrend channel, where price has been consistently making lower highs and lower lows since mid-2023. Currently, oil is trading around $69.96, showing a sharp bullish push of 6.13% for the week. However, the price is still inside the broader descending channel, which keeps the long-term trend bearish unless a confirmed breakout occurs. Key Resistance Levels: - $70.27, $71.03, $73.43 Support Levels: - $69.05 (previous breakout zone) - $67.00–$68.00 (triangle retest area) Trend Outlook: - Short-Term: Bullish momentum; pullbacks likely to hold above $69.05. - Medium-Term: If $71.85 breaks, price may target $76.00–$76.50 resistance. Note Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
ICMARKETS:XTIUSDLong
by SibiSh
CRUDE OIL Bullish Continuation! Buy! Hello,Traders! CRUDE OIL made a rebound From the support just as I predicted and the price Went further still and broke The key horizontal level Of 66.50$ and the breakout Is confirmed so we are Bullish biased and we will be Expecting a further bullish Move up! Buy! Comment and subscribe to help us grow! Check out other forecasts below too! Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TVC:USOILLong
by TopTradingSignals
1
Is the surge in crude oil bulls here a comeback?The news-driven support for crude oil's recent rally is almost exhausted, so we'll continue to adopt a buy-low-sell-high strategy today, using a small stop-loss to maximize profits. Short at $71.20, with a stop-loss at $71.70 and a take-profit at $69.20. (For aggressive shorting, try shorting at $70.95). The above strategy is Charlie's personal opinion and is for reference only. If you follow suit, please be cautious and use a stop-loss to protect your position. TVC:USOIL FOREXCOM:USOIL TRADU:USOIL TRADU:USOIL
TVC:USOILShort
by Charlie_Senior_Analyst
CRUDE OIL (LONG IDEA)🛢️ OILUSD (WTI Crude Oil) – LONG SETUP 🛢️ 🚦 Bias: BULLISH (Long) 💰 Entry: Market @$65.408 (or buy dips) 🛑 Stop Loss:$60.00 (HTF protection) 🎯 Take Profits: • TP1:$69.65 • TP2:$72.00 • TP3:$85.00 🚀 (HTF buy-side liquidity) 🔍 Why This Trade? ✨ Multi-Timeframe Confluence: 📈 Weekly: Bullish structure shift, liquidity sweep 🟩 Daily: Strong bounce from order block + FVG ⏰ 4H: BOS, FVG tap, higher lows = bullish flow 🔥 Fundamentals: 🏦 EIA: Big crude inventory drawdown 🌍 OPEC/IEA: Q3 demand rising ⚡ Geopolitics: Middle East/Red Sea risk premium 💵 Macro: USD weakness = oil tailwind 🧠 Sentiment: 🧑‍💻 Retail: Still net short 🏦 Managed money: Adding longs 🚀 Fuel for upside! 🛠️ Execution Plan: 💸 Buy now @$65.408 or scale in on dips $64.50–63.50) 🛡️ Stop Loss:$59.780 (HTF structure) 🎯 Targets: TP1:$69.65 TP2:$72.00 TP3:$85.00 🚀 ❌ Invalidation: Weekly close <$60.00 = exit ⚡ Summary: All signals GO! 🚦 Multi-timeframe bullish structure, strong demand, and fundamentals + sentiment all align for a high-conviction long. Risk defined at $60.00 for max protection. Targeting major buy-side liquidity at $85.00! #OILUSD #CrudeOil #Long #SmartMoney #TradeSetup 🚀
EASYMARKETS:OILUSD
by cylosmagic007
Bullish bounce off 50% Fibonacci support?USOUSD is falling towards the support levle which is a pullback support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit. Entry: 68.20 Why we like it: There is a pullback support that lines up with the 50% Fibonacci retracement. Stop loss: 65.68 Why we like it: There is a multi swing low support. Take profit: 71.06 Why we like it: There is a swing high resistance. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:USOUSDLong
by VantageMarkets
WTI Crude Oil Daily Chart Analysis (symmetrical triangle)WTI Crude Oil Daily Chart Analysis **Trend & Structure:** * The chart displays a **symmetrical triangle** formation, signaling a **potential breakout setup**. * Price is currently trading around **\$66.78**, gradually rising from its recent consolidation. * **Higher lows** and **lower highs** indicate a tightening range, which usually precedes a sharp move. **Support & Resistance:** * **Support Zone:** Around **\$65.47–\$66.15**, marked by the 50 EMA and prior price reactions. * **Resistance Levels:** * **\$68.95** – Short-term resistance and previous peak. * **\$72.81** – Strong horizontal resistance. * **\$77.75–\$80.00** – Projected upper trendline zone of triangle. **Moving Averages (Bullish Setup):** * EMA 7: **\$66.15** * EMA 21: **\$66.14** * EMA 50: **\$65.47** * All EMAs are aligned in bullish order (7 > 21 > 50), confirming **bullish momentum**. **Volume Insight:** * Volume remains relatively steady; a spike in volume with breakout from the triangle would confirm trend continuation. **Trade Setup Suggestion (based on chart):** * **Breakout Buy Idea:** If price breaks above **\$68.95–\$70**, potential upside to **\$77–\$80**. * **Invalidation:** A break below **\$65** would invalidate the bullish structure. **Conclusion:** WTI crude oil is trading within a symmetrical triangle, supported by bullish EMAs and tightening price action. A breakout above \$69 could trigger a bullish rally toward \$77–\$80. Keep an eye on volume confirmation and geopolitical headlines that can impact oil fundamentals.
BLACKBULL:WTILong
by Harry_Megat
Potential Long on WTI Crude oil is showing potential for a bullish move due to increasing speculation about a possible agreement between China and the United States. As we approach August 1st – the date associated with Trump's proposed tariff actions – the chances of a diplomatic breakthrough are growing. If the two economic giants reach any form of understanding, it could trigger a wave of optimism in the oil market, potentially leading to a strong upward move. Market participants should closely watch developments related to the US-China negotiations over the coming days.
TVC:USOILLong
by MasoudEskandari