TradingView Ideas

USOIL BULLS WILL DOMINATE THE MARKET|LONG (Sat, 11 May 2024)
https://www.tradingview.com/x/1qx5LG49/ Hello,Friends! The BB lower band is nearby so USOIL is in the oversold territory. Thus, despite the downtrend on the 1W timeframe I think that we will see a bullish reaction from the support line below and a move up towards the target at around 79.27. ✅LIKE AND COMMENT MY IDEAS✅
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WTI to continue long before going down (Sat, 11 May 2024)
I think WTI will finish its correction to 77.6 then continue up again to about 80.9. After which we will see a sharp decline to 76.0.
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WTI CRUDE OIL: Selling until the end of the month. (Fri, 10 May 2024)
WTI Crude Oil is bearish on its 1D technical outlook (RSI = 35.492, MACD = -1.060, ADX = 41.641) as it got rejected on the 1D MA200 today. The longer it remains under the 1D MA50, the stronger the selling will be. Being inside a Channel Down similar to October-November 2023 that extended all the way to the 1.5 Fibonacci level, we are expecting selling for the rest of the month. The 1.5 Fib is now just over the S2 level and that is our medium term target (TP = 71.50). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
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Crude oil-searching for support (Fri, 10 May 2024)
Crude prices continued to recover this morning having fallen sharply over the past fortnight. On Wednesday front-month WTI dropped below $77 per barrel to hit its lowest level in two months. There has been a bounce since then, which has taken WTI back up towards $80. The MACD on the daily chart is starting to turn up, suggesting that upside momentum is building and that oil could push higher from here. But it is too early to know if this could be the start of a significant rally. In fact, prices pulled back from their best levels as Friday’s session progressed. There’s no doubt that the last leg of the sell-off since early April will have driven out many holders of long positions. It will have been a frustrating time for them, having hung on in the expectation that the violence across the Middle East, particularly when it broke out beyond to include Iran directly, and concerns over supply disruptions due to the war in Ukraine, have failed to push prices higher. Instead, it feels as if every bit of news, no matter how insignificant in the grand scheme of things, has conspired to push prices lower, with last week’s unexpected US inventory build being an example. Overall, it has been the outlook for demand growth which has weighed so heavily on oil. The dial-back in US rate cut expectations, and a lack of clarity over the state of the Chinese economy, have driven prices down. The next few weeks may help traders decide if the worst is now over.
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WTI Short Setup (Fri, 10 May 2024)
i have right now a short setup on OIL, after breaking last support at 79.04
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USOIL sell tp 79.1 (Fri, 10 May 2024)
https://www.tradingview.com/x/ugHPw7of/ Rebound to resistance level, sell first, tp 79.1
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WTI Oil surrounding resistance (Fri, 10 May 2024)
Hello everyone, WTI Oil 4H NEW FORECAST The price has breached the resistance zone and continues its upward trajectory, aiming to reach 80.40 . We anticipate a minor correction to 79.60 before the price ascends further towards 80.40 , and potentially beyond to 81.03. Conversely, a consolidation below the levels of 79.60 could indicate a downward movement towards 78.83 and 77.65. Between support 78.83 and resistance 80.40
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Market Analysis: Crude Oil Price Recovers (Fri, 10 May 2024)
Market Analysis: Crude Oil Price Recovers Crude oil is recovering and might rise toward the $81.20 resistance zone. Important Takeaways for Oil Price Analysis Today Crude oil is recovering losses and trading above the $78.55 support. There was a break above a connecting bearish trendline with resistance near $78.40 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis https://www.tradingview.com/x/KcmEKWmd/ On the FXOpen hourly chart of WTI Crude Oil, the price found support near the $76.70 zone, formed a base, and started a recovery wave above $77.75 and the 50-hour simple moving average. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $81.22 swing high to the $76.68 swing low. Besides, there was a break above a connecting bearish trendline with a resistance near $78.40. The hourly RSI is near the 65 level, but the price is struggling near $79.50. It is close to the 61.8% Fib retracement level of the downward move from the $81.22 swing high to the $76.68 swing low. A clear move above $79.50 could send the price toward the $81.20 resistance. Any more gains might send the price toward the $83.00 level. Conversely, the price might start a fresh decline from the $79.50 resistance. Immediate support sits near $78.55. The next major support on the WTI crude oil chart is $77.75. If there is a downside break, the price might decline toward $76.70. Any more losses may perhaps open the doors for a move toward the $75.00 support zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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WTI Oil Price Recovers Quickly From March Lows (Fri, 10 May 2024)
WTI Oil Price Recovers Quickly From March Lows On May 8, the price of WTI crude oil fell below $77 per barrel for the first time since March 11. But on the morning of May 10, it was above $79 – an increase of almost 3% in less than two days. Several factors contributed to the significant rise in the price of WTI crude oil. According to Reuters, among them: → Increased oil demand from the United States. Data released on Wednesday showed a drop in US crude oil inventories, driven by increased refinery utilisation. → Growing demand from China. Data published on Thursday showed an increase in oil imports. → Ongoing concerns about possible supply disruptions due to escalating conflict in the Middle East. Negotiations to end hostilities between Israel and Hamas failed, and Israel attacked the Palestinian city of Rafah. https://www.tradingview.com/x/I0gTWht1/ On April 19, we wrote about the possibility of a bearish breakdown of the ascending channel line, which would be welcomed by the US administration, where the presidential elections are getting closer and closer. Since then, the price of oil has broken down the median line and the support line at $80.70, which may act as resistance in the future. The WTI crude oil chart shows that: → the price is within the ascending channel, which has expanded two times since the last post according to the principle of parallel channels; → the bullish reversal on May 8-9 formed a test of its lower boundary; → the exhaustion of selling pressure was indicated by a bullish divergence on the RSI indicator. If demand from major economies strengthens and the geopolitical environment continues to deteriorate, this could create the conditions for the WTI crude oil price movement within a sustained upward channel. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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WTI Oil H1 | Potential bullish breakout (Fri, 10 May 2024)
WTI oil (USOIL) is trading close to a breakout level and the bullish momentum could potentially push it higher from here. Buy entry is at 79.89 which is a potential breakout level ( Wait for the 30-min candle to close above this level for confirmation ). Stop loss is at 78.70 which is a level that lies underneath a pullback support. Take profit is at 81.23 which is a pullback resistance that lies underneath the 61.8% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com/au): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com/au Stratos Global LLC (www.fxcm.com/markets): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
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