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Crude-oil

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
WTI Crude Oil: Buy the pull back. Potential for $66.00.Oil has hit the 63.90 1W Resistance and is naturally retracing, despite the Middle East geopolitics and lower than expected Crude Oil Inventories today. This is purely a technical reaction upon reaching a long term Resistance level and 1D approaching the sell zone (RSI = 68.142, ADX = 54.212). We are expecting a pull back towards the 60.00 Symmetrical Support or the 1D MA50, which we will buy. Target: 66.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:USOILLong
by InvestingScope
4hs and Daily analysis on Crude Oil Futures by ThinkingAntsOkUse this as a guide to develop your view of the chart. Main items we can see on the 4hs chart: -The price is inside an ascending channel -On the Daily chart (image below) we can see that the price is close to a significant resistance zone + the Dynamic upper resistance of the ascending channel -Currently, we can see an Inner bullish trendline inside the ascending channel, and it has been broken -Now we will be waiting for a clear pullback, and ONLY IF THAT HAPPENS we will develop our setup, with an entry below the structure / stop above the Higher high/ and break-even before the first target -The full movement we will trying to catch is going to be towards the second bearish target Daily Chart:
NYMEX:CL1!
by ThinkingAntsOk
WTI: Where To Sell??? October was phenomenally good for WTI oil trading. My last target for the long trade is lying on 60 level. Those who are looking for a short trade, focus on 60 - 61 resistance area. this area was respected multiple times by the market in the past and, in my view, it is the safest zone to sell. for now, it looks like bullish tendency will remain and buyers will keep pushing the market to the resistance line of the rising channel. the only minor resistance on their way will be 59.0, we can expect a minor retracement from this level and continuation to the underlined zone.
TVC:USOILLong
by VasilyTrader
1