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Brentoil

USOIL is on 2Weeks Low. Possible "W" Structure with US +ve ReplyWelcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work. Expecting a positive response from US to adjust the Price back in a stable level. Following technical analysis I see a double bottoms formation with the 2 weeks low. Yes I call it fake deal. Price didn't held its gains now its approaching the $20 support. Deal to cut the production isn't enough and OPEC requests US to cut their output by 3 million barrels. From that $20 support I am willing to step in with my orders to long USOIL . Sketch up your own trading plan and see how it works. Good Luck! Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILLong
by Profitlio_Trading
Can Oil Still be Propped Up?Our double bottom set up from last week provided us with over a 20% gain in a few hours if you did close positions at the resistance zone. On the 4 hour chart, we have been talking about a potential head and shoulders pattern. Price creating our first higher low in a new uptrend but requires a break and close above 29.00 to trigger this. So far, we have been drifting below but if we were to create a right shoulder, it would happen here. On the daily chart, there is another option. Yes, if we break and close below the 19.50 zone, we would make another wave lower. However, it seems the trend here could possibly be exhausting. Is it possible to see buyers step in here or close to here, and put their stop losses just below? Or is it possible we may create a double bottom pattern (creating a “W” shape showing us a reversal)? OPEC did come out with a 9.7 million barrel a day production cut. The market did not react well to the news. Oil still sold off on the open this week. In fact, yesterday on twitter, it seemed President Trump tried to give oil a bit of a boost, saying the actual cut could turn into around 20 million barrels a day rather than 9.7. Market still did not buy it. If that were to be true, market participants would want to see it on paper. The truth is that there is still a large supply glut. Demand is decreasing sharply, and Supply is not keeping up with that. A production cut would have to be substantially more, but of course that is difficult to do as the OPEC nations still rely on oil for government revenues. None of them really want to cut. Oil being higher is one of the keys for a prolonged market rally. On the discord chat, we are watching the US 10 year yield to stabilize…indicating some money leaving bonds for stocks, and we are watching oil. Why oil? Because banks were forced to lend to oil in 2014, and now have significant exposure to energy. When oil moves up, it impacts both the energy and financial sectors on the market. The news for oil got worse today as the IMF came out stating that this economic downturn due to the lock downs around the world will rival the great depression. 2020 will not be pretty, but 2021 will show a bounce. This of course means that if we are heading to a recession/depression, then demand for oil will continue lower. The production cuts will have to increase in order for supply to fall accordingly with demand. To be honest, I would keep an eye on the Middle East. Would not be surprised to see some sort of event there occur to spike oil. This 29 level is still key either way you look at oil: on the 4 hour chart and the daily chart.
TVC:USOIL
by Uncharted-FX
USOIL Approaching $20 Support after OPEC's Historical Fake DealWelcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work. Yes I call it fake deal. Price didn't held its gains now its approaching the $20 support. Deal to cut the production isn't enough and OPEC requests US to cut their output by 3 million barrels. From that $20 support I am willing to step in with my orders to long USOIL . Sketch up your own trading plan and see how it works. Good Luck! Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILLong
by Profitlio_Trading
USOIL Approaching $20 Support after OPEC's Historical Fake DealWelcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work. Yes I call it fake deal. Price didn't held its gains now its approaching the $20 support. Deal to cut the production isn't enough and OPEC requests US to cut their output by 3 million barrels. From that $20 support I am willing to step in with my orders to long USOIL. Sketch up your own trading plan and see how it works. Good Luck! Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILLong
by Profitlio_Trading
1
USOIL Heading $30 and Don't miss out these two TargetsWelcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work. USOIL has broken its second bull leg and which so promising for more bulls involvement. We had a chance to gain 800+ Pips on last call, I have tagged the analysis right down below. Now again after seeing this perfect structure its so mad to miss this out. I have set two targets as highlighted on chart and willing to bank my sets of long positions in there. Fundamentally we got a support with the Closed deal in between Russia and Saudis. This should work well and Good Luck! Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILLong
by Profitlio_Trading
USOIL Short Trade SetupWelcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work. USOIL has printed a structure very similar to a Rising wedge is promising for a target level of $25.15. All I look for a possible Breakout to enter short positions Good Luck! Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILShort
by Profitlio_Trading
USOIL Long Trade Setup Update ( Banked TP3 with 710+ Pips )Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Congratulations to my followers banked 710+ Pips with the OIL Pump. In here we can see a perfect trend breakout happened with a retest! This is the second confirmation we were waiting for, Previous Analysis: I have witnessed a "W" formation on 4h time frame on the major support price has formed. Price failed few time to break the $20 level and its very promising for a trend reversal which can support for bulls to make price in an average range of $25 or above. Good Luck in your trading. Profitlio Trading ( Since 2014 in Financial Markets )
TVC:USOILLong
by Profitlio_Trading
2
USOIL Long Trade Setup Update ( Confirmation )Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, In here we can see a perfect trend breakout happened with a retest! This is the second confirmation we were waiting for, Previous Analysis: I have witnessed a "W" formation on 4h time frame on the major support price has formed. Price failed few time to break the $20 level and its very promising for a trend reversal which can support for bulls to make price in an average range of $25 or above. Good Luck in your trading. Also follow my Gold trade setup we have caught up 480+ Pips already on the Short Run Profitlio Trading ( Since 2014 in Financial Markets )
TVC:USOILLong
by Profitlio_Trading
USOIL Long Trade SetupThanks for Jumping back on my Analysis, Traderchamp is here on your Service, I have witnessed a "W" formation on 4h timeframe on the major support price has formed. Price failed few time to break the $20 level and its very promising for a trend reversal which can support for bulls to make price in an average range of $25 or above. Good Luck in your trading. Also follow my Gold trade setup we have caught up 480+ Pips already on the Short Run Profitlio Trading ( Since 2014 in Financial Markets )
TVC:USOILLong
by Profitlio_Trading
4
OIL About To Make a Decision. Will it be $13 Or $30?Oil is riding down the descending channel quite well. I feel like $13.50 could happen but maybe its time for a bounce based on everyone going short at this point. Maybe a short squeeze? I haven't really looked into short positions but I know they have been gaining for months. Assuming that we are to break up, we wouldn't see a ton of resistance until $30. I think a bounce to $25 would be the minimum. However, until we break up, the most likely scenario is down. Personally I would wait for sub $20 to go short or above $22 to go long. On one last note on oil production is that the Russians are rumored to be able to drill oil down to $14 a barrel before loosing money. And the theory is that they would do this to gain market share. That last bit is highly speculative information but I am throwing it out there. This is not financial advice. Please do your own research and analyze your own trades.
TVC:USOIL
by ChartProphet
1