{"id":3077,"date":"2024-06-07T08:18:50","date_gmt":"2024-06-07T08:18:50","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=3077"},"modified":"2025-05-15T14:02:47","modified_gmt":"2025-05-15T14:02:47","slug":"analysis-on-usoil-wti-for-june-7th","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/chart-of-the-day\/analysis-on-usoil-wti-for-june-7th\/","title":{"rendered":"Analysis on USOIL (WTI) For June 7th, FVG Setup Available"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

USOIL has been acting choppy for the past few weeks, leading to some difficult scenarios to trade. However, we now may have a clearer, albeit slightly hidden, short trade setup now available on the daily time frame for this asset.<\/p>\n\n\n\n

Fair Value Gap Short Setup on USOIL (WTI)<\/h2>\n\n\n\n

Several bearish confluences indicate a potential decline in USOIL, making this a viable short trade opportunity.<\/p>\n\n\n\n

Bearish Daily Fair Value Gap: <\/strong>We have a daily FVG from $78.41 to $78.79 created by the rapid price decline formed last week.<\/p>\n\n\n\n

EMA Cluster at FVG:<\/strong> EMA 50, 100, 200 are clumped together between $78.61 – $78.81, which aligns with the daily FVG\u2019s location.<\/p>\n\n\n\n

Anchored Volume Profile POC (Red Line): <\/strong>By adding an anchored volume profile on May 1st, gathering volume data over USOIL\u2019s consolidation in May, we get a point of control at $78.8890.<\/p>\n\n\n\n

With so many bearish confluences concentrated in one area, I would be keeping a close eye on USOIL if it reaches the $78.6 mark and forms a bearish daily candle. This, to me, would confirm the presence of sellers stepping in to push the price down.<\/p>\n\n\n\n

Potential Short Trade Setup:<\/strong>
\u2022 Entry Point:<\/strong> $78.6 – $78.8 (if price rejects from this level)

\u2022 Take Profit Targets:<\/strong>
\u2022 First Target: $72 (0.768 Fibonacci Retracement)
\u2022 Second Target: $68.8 (Major Low)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

What is a Fair Value Gap?<\/h2>\n\n\n\n

Fair value gaps are price gaps between three consecutive upwards or downwards candlesticks that typically get filled and act as a point of reversal. The distance between the first candle\u2019s wick and the third candle\u2019s wick make up the fair value gap.<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

With an impulsive drop over the last week, USOIL may have another short setup coming on the daily time frame.\u00a0<\/p>\n","protected":false},"author":159,"featured_media":3078,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[18],"class_list":["post-3077","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-chart-of-the-day"],"acf":[],"yoast_head":"\nAnalysis on USOIL (WTI) For June 7th, FVG Setup Available - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"With an impulsive drop over the last week, USOIL may have another short setup coming on the daily time frame.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/chart-of-the-day\/analysis-on-usoil-wti-for-june-7th\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analysis on USOIL (WTI) For June 7th, FVG Setup Available - 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