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Crude-oil

WTI Oil: Short term (bullish) outlook.Oil has finally entered a consistent uptrend on the 4H chart, practically being within a Channel Up since the Feb 04 bottom (RSI = 59.395, MACD = 0.500, ADX = 23.410, Highs/Lows = 0.0000). The MACD shows that it can be sustainable in the near future as the buy/ sell points seem quite obvious. It is also positive that the 4H MA50 (which was formerly a strong Resistance in the January sell-off), has now turned into Support and has already successfully provided rebounds twice. Also see how systematically the Lower Highs of the January downtrend are filled (blue dashed lines). It appears that the market is using those as benchmarks/ targets during this (early) uptrend. Assuming the pattern holds, the next Lower High Gap is at 56.00, which should be the technical Target for short term buyers. This is very much in line with our long term perspective: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX:USOILLong
by InvestingScope
2
OPEC Partners Seek Meeting in a Bid to Control Falling PricesHeadlines: - Chinese Equities are pointing to a negative start back from holidays as delayed hit on markets is expected to roll into today’s session - Chinese Central Bank trying to stem the flow by inserting 150 billion CNY$ into Chinese equities - OPEC partners seek emergency meeting in a bid to control falling crude prices seen in recent weeks - Coronavirus sees first international death and virus continues to spread globally seeing new cases
NYMEX:CL1!
by OilReporting
Short Setup on Crude Oil Futures by ThinkingAntsOkUse this asa guide to develop your setup: Main items we can see on the Daily Chart: -The price was rejected from a major resistance zone. -The ascending channel has been broken. -Currently we can see a corrective structure (continuation pattern). -Our forecast is a continuation of the bearish movement towards the next support zone. -We will trade this instrument as it is shown on the char. -We will cancel this trade if the price goes above the stop zone.
NYMEX:CL1!Short
by ThinkingAntsOk
1
China impact on oil price - 2020 ForecastIf you like this idea, don't forget to support it, clicking the Like Button! Do you know what are the 15 countries that imported the highest dollar value worth of crude oil during 2018? China: US$239.2 billion (20.2% of total crude oil imports) United States: $163.1 billion (13.8%) India: $114.5 billion (9.7%) Japan: $80.6 billion (6.8%) South Korea: $80.4 billion (6.8%) Netherlands: $48.8 billion (4.1%) Germany: $45.1 billion (3.8%) Spain: $34.2 billion (2.9%) Italy: $32.6 billion (2.8%) France: $28.5 billion (2.4%) Thailand: $28.4 billion (2.4%) Singapore: $28 billion (2.4%) United Kingdom: $26 billion (2.2%) Taiwan: $23.4 billion (2%) Belgium: $19.5 billion (1.7%) Now, these data are related to 2018, and it's easy to understand how the first four countries have a great impact on oil price, and how China could influence oil price (that, at this point, is influenced by China's economic development). In 2019, China broke records for crude oil imports, importing more crude oil than the U.S. did at its peak. We all know that oil price is affected by high volatility (I am a supporter of the "Rollercoaster Theory" XD). However, oil price increased thanks to increasing China's demand (one of the most important factors), combined with scarcity from the suppliers. Despite this, there is a high risk that China's oil demand could halve this year (2020) generating a lower global oil demand for about $100 billion. If supply is maintained at the same levels, I will expect oil to be cheaper, at least in the first half of 2020. From a technical point of view, the broke of the $57.11 support could realize the beginning of an important downtrend. If China confirms this information, traders will not be late to open their short positions. Investing Fellow Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties. Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal. I am not a financial advisor.
NYMEX:CL1!Short
by Investing_Fellow
USOIL (WTI): Trading Plan & Top Down Analysis hey traders, a lot of followers have asked about my thoughts on WTI and when can we expect a pullback after a selling rally. currently, I still have a short trade active from 63.0 level BUT the market has finally reached first strong structure support and analyzing a price action it looks like indeed selling volumes are weakening. on a weekly and on a daily you can see a very peculiar conjunction of vertical and horizontal support. on 1h the price started coiling within a falling channel. for us, a bullish breakout of it will signify a change in sentiment so it will be a perfect confirmation to long the market. target levels will be 59.75 / 61.0 stop stictly below the channels last L.L *remember, this is not a call to action trade. I give you my plan on execution. Let the conditions to be met before trading!
FX:USOILLong
by VasilyTrader
1
Trade Idea for a Short Scenario on Crude Oil by ThinkingAntsOkUse this as a guide to develop your setup: Main items we can see on the 4hs chart: a)The Price was rejected from a major resistance zone b)Currently, we can see the price on the lower trendline of the ascending channel c)If you are thinking about trading short scenarios, we will wait for a corrective structure in the current area. d)The corrective structure must be an ABC or an ABCDE Pattern (Triangle/Zig-Zag/Flat/Irregular) e)If that happens we will set short orders as shown on the chart Remember we are not discarding a long scenario here (a bounce on the trendline) we are just explaining what would be an optimal scenario for short trades.
NYMEX:CL1!
by ThinkingAntsOk