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Crude-oil

Dont be negativeso you losted all your munz, so what? it cud always be worser. this is important history lessn for pro traders from a vetern who livd through the histori of stuff ok so let me educ8 u, this happen a long time ago, i tink around... april 2020? ya peepo was looky looky at da oils cuz da oils was droppa it was $2 buckarinos or sumtin and dey though: "hey i kno is so low i buy i buy", but they died. what dems were really buying fo real werent da oils at all, dey was da oil future contracs. lemme get u learned about dat a futures contract is when you say hey bro i wanna pay you for this now and get it later lol. anyway, oil future be all like: ima go low and low, it went so low it was crazi. it went to $0.02 cent and den peeps really went mad. it cant go much lower!!! lol!!! so it go to -$40 a baller LMAO REKT BUT WAIT HOW so ok basically u buy dis ting and u get 40 bux back?! ya ya ay cool. dey post in on websit for mentally challenged wall street bets on la reddit and peeps were buying it like a hot cake howeva da story aint ova.... cuz wat dem pepes didnt know is they had to take physical delivery of dat oil...... yup! dat was how da futur contrac worked, u buy u buy and den u can sell, but nobody want to buy cuz u needed to go der and get all dat oil LMAO or else u was in breach of contrac so let dat be a lesson to you about stuff, i not sure wat da lesson is, let me make some shit up. yeah, the lesson is there is no bottom for sum tings so make sure u know wat u buyin and also buy algorand cuz it gon go uppa a lot the end
TVC:USOIL
by coinhoIio
CL: USO: Crude Oil Awaiting OPEC Decision to Boost ProductionCrude Oil chart is consolidating awaiting OPEC's decision to boost production by 500,000 B/d in February, with a total of 2 Billion B/d increase by April of 2021. Prices may dip to $45 level. Economic recovery from COVID-19 is in the cards with expectations of higher demand coming in the spring and into H2 of 2021. Currently, Crude Oil prices are holding grounds, pressured by the OPEC production increases news, but supported by expectations of growing demand. Based on the OPEC agenda and Russia's position seeking price stability, 2021 oil prices are expected to trade within the range of $45-$55. Lower prices, down to $45 -42 level may be seen in the near term, while demand has not recovered yet, but production increases are already agreed upon. Technical analysis: 4 Hr RSI chart shows mid-range consolidation, which may get resolved by testing the bottom before going back up. Multi-frame MACD chart analyses show consolidation at the top of the range on a Daily chart, with mid-range consolidation on a 4 Hr chart. The most significant Fibonacci level from the most recent run up appears to be 50% at $45.50, which is also 200 EMA. This area is expected to get tested first, should OPEC approve its production increases on January 4th. Lower levels of $42 and $39 are also possible targets, depending on the EIA inventory reports in the coming weeks. We still do not have full demand recovery, while production may start increasing ahead of time.
NYMEX:CL1!Long
by tradexchart
WTI Crude - Time for a correction?Oil prices have been tearing higher since the start of November, rising more than 40% to return to far healthier levels. The rally has started to slow though and with so much good news - vaccines, OPEC+ deal, US stimulus deal (almost) - now priced in, I wonder whether we're about to see a bit of a corrective move. WTI has trended higher nicely, following the 55/89 period SMAs on the 4-hour chart and a break of this may be the first clue that it's run its course. WTI peaked just above $49 today, entering what has been a major area of support over the last couple of years before becoming resistance in early 2020. While a US stimulus deal would be positive for oil demand in the coming months, I wonder how much it is already priced in. It may give crude a small bump but would profit taking then kick in?
OANDA:WTICOUSD
by OANDA
ridethepig | USDCAD Market Commentary 2020.11.25This linkage with Oil is a well known school, which believed only in absolute freeing moves can be a forced to be reckoned with. In 90 cases out of 100 I consider it worth recommending. Even after the defensive breakdown in Oil with Covid chapter I, it should in no way b overestimated that we are suddenly reaching the previous breakdown manoeuvre. Thus in this position, what is in play is a cleansing of USD shorts as the move got out of hand. Some large macro players were caught on the CAD bid yesterday, out of position if you ask me and well into the middle of the range. Asking for a squeeze up towards 1.306x and 1.314x. Thanks as usual for keeping the feedback coming 👍 or 👎
Long
by ridethepig