WHY CRUDE OIL MIGHT FALL TO $40 PER BARREL BEFORE 2025Crude oil from Weekly timeframe is showing sign of weakness after form head and shoulders pattern. But let’s watch and see if $65 zone can be broken if that happens $40 is nextShortby Money_Pips332
USOILRSI indicates Bullish Divergence. Which means that at any time the market trend can change to HH and HL. Longby SohailChaudharyUpdated 115
USOIL PULLBACK BEFORE ANOTHER DIP#USOIL As predicted last time, we observed a significant drop following the breakout identified in the bullish channel. Currently, we see consolidation, a bearish impulse, and now a pullback. We anticipate another downward movement once the current bullish impulse concludes. This is expected to retest the recent lows near the major demand zone previously highlighted.Shortby traderchamp_3
USOIL has a clear downward trendOn the daily chart, USOIL maintains a good downward trend. At present, we can pay attention to the resistance near 76.0. If it rebounds from this position, we can pay attention to the SELL opportunity. The support below is around 71.4. After breaking through, the support below is around 68.0.Shortby XTrendSpeed2
Oil Spills into First Major SupportWTI has plunged more than 17.3% off the April highs with the decline responding to confluent support today at 72.14/93 - a region defined by the objective yearly open and the 2024 low-day close (LDC). Looking for a reaction down here. . . Initial resistance now eyed at 75.33 with bearish invalidation now lowered to 77.67 . A break lower exposes the December LDC at 69.81 backed by the 2023 LDC at 68.527 . Watch the weekly close here. Michael Boutros, Sr Technical Strategist @MBForex by FOREXcomUpdated 1
oil bullish ideabulls strong for the past 2 days, consolidation on h1 and a morning star pattern on h1 with a bullish h4 piercing candle, good risk to reward Longby Khalidd932
World oil prices are in the process of accumulationWorld oil fees extended 2% at the buying and selling consultation on June 6, after the European Central Bank (ECB) determined to reduce hobby fees, elevating hopes that americaA Federal Reserve (Fed) will comparable action. Meanwhile, ministers from the Organization of the Petroleum Exporting Countries (OPEC) and its allies, called OPEC+, reassured traders that the ultra-modern oil output settlement should alternate relying at the situation. into the marketplace. At the quit of this consultation, Brent North Sea crude oil charge extended through 1.forty six USD, equal to 1.86%, to 79.87 USD/barrel. The charge of US mild candy oil (WTI) extended through 1.forty eight USD, equal to 2%, to 75.fifty five USD/barrel. On June 6, the ECB carried out the primary hobby charge reduce on account that 2019, mentioning development in pushing lower back inflation, however caution of inflationary strain withinside the Copper Area. Euro (Eurozone) continues. Specifically, the ECB diminished hobby fees through 25 foundation points, to 3.75%, after maintaining hobby fees unchanged from October 2023. Lower gas charges and easing post-pandemic deliver constraints have helped push inflation right all the way down to 2.6% withinside the 20 nations that use the euro, from 10% on the quit of 2022. Investors are actually much less sure than they had been some weeks in the past that inflation has fallen sufficient for the ECB to adopt a large-scale economic coverage easing cycle. In americaA, economists expect the Fed will reduce hobby fees in September 2024. The range of Americans submitting preliminary unemployment claims rose closing week and hard work charges rose much less withinside the first area of 2024 than forecast, the Labor Department stated. While this indicates americaA hard work marketplace is cooling, it's miles not going to spark off the Fed to begin slicing hobby fees. Meanwhile, buying and selling company Trafigura`s leader economist Saad Rahim stated OPEC+'s choice to steadily raise a few manufacturing cuts, blended with sturdy gas supplies, had driven oil fees down. reduced withinside the beyond few sessions. Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman stated on June 6 that OPEC+ should pause or opposite the growth in manufacturing if it reveals that the marketplace isn't sturdy sufficient./.Longby Chart_MasterPro3
USOILUSOIL is respecting its downtrend channel with a reason that OPEC+ (Organization of the Petroleum Exporting Countries and allies) is considering phasing out production cuts by the end of 2025. This increased supply could put downward pressure on prices, and also a potential global economic slowdown could dampen demand for oil, leading to lower prices, lets monitor. Shortby abidhaider2
US OIL bearish continuation D1 target 70Breakout trendline daily , heavy selling pressure Target 69.8-70 by AlbertHarmanto2
OIL & OPEC CutsOPEC cuts lead to lower oil, not higher oil prices. That is why they are cutting . If Global demand was there they would not be cutting they would be selling as much as they can at higher prices. I see too many people get this backward.by RealMacroUpdated 10010071
USOIL printing bearish reversalUSOIL WTI printing Rising WEDGE (bearish reversal) and Bearish Divergence SELL STOP below the last HL, SL above the expected HH TP 1 & TP2 with R:R 1:1 & 1:2 respectivelyShortby fay_pasai2
Oil plummets amid rising inventories and OPEC+ decision spookingUS crude price is trying to reverse some of the losses on Wednesday morning after five days of continued selloff. West Texas Intermediate (WTI) dipped to a four-month low on Tuesday, finally finding some support at 72.6. Momentum had already been struggling when OPEC+ announced at the weekend it would start to gradually increase production later this year. Markets were sceptical about the decision given the market has already shown signs of weakness in demand. WTI dropped over 3.5% on Monday. But more fuel was added to the bearish fire on Tuesday when inventory data showed a large buildup. The American Petroleum Institute (API) revealed that crude oil inventories in the United States rose by 4.052 million barrels for the week ending May 24. Markets were expecting a drop of 1.9 million barrels. The reaction to the OPEC+ announcement may have been a little overextended. The decision comes at a time when traders are already nervous about the fact that interest rates remain so high still, and how that will affect economic growth in the future. A series of weak data readings in China have led to concerns about future demand, alongside how major economies in Europe and the US will fare in the future. The fact that markets have reacted this way may draw attention to the soundness of the global economy, and whether central banks have gone too far with their policy tightness. The focus will be drawn to the ECB meeting this week and the Federal Reserve meeting next week to determine how much further markets will need to endure high interest rates. Markets remain highly confident that the ECB will cut rates by 25bps on Thursday. The US jobs data released on Friday will also be important for oil traders as it will affect the overall risk appetite and sentiment in global markets. On the chart, WTI has become oversold in the short term, with the RSI bouncing off the 30 line as it attempts to find support to reverse higher. The bias remains bearish, but we may see some dip buying around current levels resetting some of the selloff. The fact that the price has dropped below the descending trend line support and remains below all four of its key moving averages suggests buyers are going to find continued resistance to move higher in the absence of a bullish catalyst. by CapitalcomUpdated 2
Buy Setup Currently Trading at 72.80 , Go Long For The Target 84.79 I expect Crude Will Consolidate Around 72.80 And Than Start It Upward JourneyLongby FibooGann118
USOILCrude oil is a type of fossil fuel that is extracted from the earth and refined into various petroleum products, such as gasoline, diesel fuel, jet fuel, and heating oil. Here are some key facts about crude oil: Longby HavalMamar5
Today's crude oil analysis and strategyYesterday's market was a "dark horse" market. After opening in the morning, it fluctuated and fell from the opening price of US$75.35 to the lowest point of US$75.30, and then began to rise all the way. Moreover, there was no resistance to this wave of rise. It rose from the lowest point of US$75.30 to US$78.29, an increase of US$2.99, which was a large increase in a single day. There was no news or data affecting yesterday's rise, so it was a technical increase, that is, the market rebounded and repaired after five consecutive declines. Today, crude oil opened at US$78.12. This wave of rise is the 5-2 wave rise mentioned earlier. Yesterday, we said that the decline of wave 5-1 was US$8.14. The rebound of wave 5-2 calculated yesterday was US$3.77. After yesterday's rise, wave 5-2 rebounded from US$72.48 to US$78.29, and rebounded by US$5.18. It has rebounded half of wave 5-1, close to two-thirds. As long as the subsequent rise does not break US$80.62, wave 5-2 will continue to exist. Once it breaks, this wave of rise will no longer try wave 5-2, but will be the adjustment of three waves abc after the end of the main decline of wave 5. As for how the market will go and how to count the waves again later, we need to re-analyze and predict after the market comes out. Today, we only need to focus on the impact of OPEC's monthly market report. Today's crude oil recommendations; (Today's focus is on OPEC's monthly market report) 1. Short at $78.75, stop loss 35 points, take profit $75.70. (More aggressive, short at $78.40) 2. If strategy 1 short is stopped, short at $79.65 again, stop loss 30 points, take profit $76.60. 3. Go long at $77.05, stop loss 30 points, take profit $78.50. 4. If strategy 3 is stopped, go long at $76.35 again, stop loss 30 points, take profit around $78 I hope my analysis and suggestions are helpful to you. If necessary, you can follow me! ! ! by Financial-EagleUpdated 2
USOIL ( BREAKING TURNING LEVEL )USOIL Tendency the price is a long in 76.23 Turning level : The turning 76.23, so as long as the price trending above this level, there will be a bullish trend resistance level : trade above 76.23 , the price will up to 78.93, and stable this level up to 80.80 and 82.88 support level : braking a turning level 76.23 , and stable this level ,the price will reach the support level of 74.57 and 72.27 corrective level : price will attempt 76.23 ,correct itself before long Longby ArinaKarayi2
Crude oil latest analysis and advice!Hello, trader. Potential downtrend line breakout in USOIL 1hr chart at $78.21. If breakout holds: Target 1: $79.78. Target 2: $81.78 if $79.78 is broken. If breakout fails: Target 1: $76.97. Target 2: $76.00 if $76.97 is broken.by Jordan-KerrUpdated 2
USOILCrude oil is a type of fossil fuel that is extracted from the earth and refined into various petroleum products, such as gasoline, diesel fuel, jet fuel, and heating oil. Here are some key facts about crude oil:Shortby HavalMamar1
USOILUSOIL - CRUDE OIL Open: 78 SL: 81 TP: 68 ================== Disclaimer: Any content in this text does not constitute investment advice. This text provides an objective description of the market situation and should not be considered an offer to sell or a solicitation to buy. Any decisions made based on the information provided in this text are your personal responsibility. Any investments made or to be made should be analyzed based on your financial situation and personal goals.Shortby ahmedqotb1981Updated 1
CRUDE OIL BEARISH SETUP|SHORT| ✅CRUDE OIL surged again to retest the resistance of 76.77$ But it is a strong key level So I think that there is a high chance That we will see a bearish pullback and a move down SHORT🔥 ✅Like and subscribe to never miss a new idea!✅Shortby ProSignalsFx112
WTI ShortWTI Short Price rose aggressively with no retracement. it ran into 4H/1H formerly bearish signal, long tailed. Will be aggressive profit taking 1to1 and then a runner trade all the way to former consolidation @ 76-ishShortby superweijie1
OIL MAP FY24-25 : GUNS BLAZING, RIGS BLOWING, OCEAN BURNINGthis post is meant to be a refresher for the dedicated analysts Can you imagine the ocean on fire like in that one Simpsons episode Honestly this is just for the conspiracy gang (are we still saying gang?) Anyways biden manipulated my last forecast but he cant fight supply and demand 4ever unless he backed by some super market maker power that wants a certain war to take place as they expand their nations territory while ruining relations with the world... Assuring him if oil prices are affected we will roll in a trillion and supply based propaganda to short it no biggie that is what i suspect if im wrong again that said as each zone breaks im expecting headlines of the sorts i heard people like to stalk the barrels notica how they are showing dark lining inside the circles showing they are no filled around plains all american www.google.com Longby Bekiumuzi_DubeUpdated 2
OILUSD: UT Curve Analysis(Based on the 1D Chart) 🛢 CFD: WTI CRUDE OIL 🛢 RESISTANCE @ 85.21 TP4 @ 84.39 TP3 @ 81.44 TP2 @ 79.52 TP1 @ 76.76 SUPPORT @ 74.51 BSO @ 73.94 ⏳ BLO @ 72.22 ⏳ FUNDEMENTAL ANALYSIS Crude oil prices have slightly recovered from a drop caused by pressure from the Federal Reserve, but they are still stuck in a narrow range. When the Organization of Petroleum Exporting Countries (OPEC) and its partners got together on June 2, 2024, they seem to be in favor of price increases as long as voluntary production cuts last longer. Energy demand is still tied to what people think will happen with monetary policy, especially in the US. Last week, US oil stocks rose by 1.8 million barrels, according to figures from the Energy Information Association. This made the market less confident that supply would meet demand. Since the middle of December, the market has been stuck in a narrow band. The next level of support is at $85.21. The price range right now is $74.51 to $71.41. This is an Intermediate Time Frame trade (4 hours to 6 day): — Offers a clearer picture of the underlying trend compared to short-term frames. — Provides more opportunities for confirmation signals and technical analysis. — Allows for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders. 🔑 ⏳ = PENDING ORDERS BLO = BUY LIMIT ORDER BSO = SELL STOP ORDER CFD = CONTRACT FOR DIFFERENCE UT = UPTREND TP = TAKE PROFITLongby ProfessorCEWard2