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Crudeoilanalysis

Crude Oil (WTI)This looks like it is poised to head back into a well established $70-$80 range (and then some!). Anticipated long-term USD strength, as well as extended Global economic weakness bodes well for an enduring price weakness outlook. Technically, Crude is at a major pivot, both, at the top of a rising daily channel, as well as at the top of a descending weekly channel trend line, resulting in a significant confluence region - both of those having price-negative connotation. The Daily (main signal); SHORT on any reversal! ... and the 240 min. (secondary signal);
NYMEX:CL1!
by Nemo_Confidat
2
Short Crude Oil on ResistanceIn crude oil trading today, we made good profits in the trading strategy of shorting crude oil in the 70.6-70.8 area twice. Judging from the current structural trend, crude oil will maintain range shocks in the short term, and fundamentally still maintain a short position. Although the inventory data has declined for two consecutive weeks, the pressure on the demand side is still very weak, and the U.S. dollar index has rebounded.Crude oil as a whole tends to run in a bearish trend. In terms of short-term structure, crude oil is currently facing the resistance of 71-71.2. If this area cannot be effectively broken through, then crude oil may still fall to the 69 position area at any time. Therefore, before crude oil fails to break through the short-term resistance, it is mainly to short crude oil. USOIL: @70.8-71 Sell, TP: 70.2 For more trading signals and trading plans, you can follow the bottom of the article to view the details!
TVC:USOILShort
by Trader_Christofer
WTI Light Sweet Crude Oil, 6/20/23A two-sided framework continues through summer between 62.14 long-term support, and 82.33 long-term resistance, both regions able to contain seasonal activity.   Downside, a weekly settlement below 62.14 indicates 53.87 within several months, longer term Fibonacci support able to contain selling into later year.   Upside, a weekly settlement above 82.33 indicates 94.67 within several months, able to contain annual highs. - For Tuesday, the 67.08 - 67.54 region can contain weekly selling pressures, above which 74.29 remains a weekly target, 76.68 attainable within 2 - 3 weeks.   Upside Tuesday, 72.40 can contain intraday strength, while pushing/opening above 72.40 allows 74.29 intraday, able to contain buying into later week.   Closing today above 74.29 signals 76.68 within several more days, able to contain weekly buying pressures, possibly into later July.   Downside Tuesday, breaking/opening below 70.49 allows 67.08 - 67.54 intraday, able to contain weekly selling pressures and the area to settle below for indicating 62.14 longer-term support as a 1 - 2 week target.
NYMEX:CL1!
by SpecialeAnalysis
Crude oil is steadily making profits every dayCombined with the trend of the hourly chart, U.S. oil continued to stay high and fluctuate within a narrow range after pulling up yesterday. This state indicates that the market may rebound again, but whether the top can break through 74, and whether it can press 75.5-7 is irrelevant. It's too easy to judge, after all, this wave of recovery still seems very sudden. In terms of operation, choose to wait and see conservatively within the day, and try to operate long and then short if you are aggressive, that is, a retracement around 72.2-72 within the day, aggressive short positions and long positions, set a stop loss at 71.5, and target at 73.5-74. Hold a single to see the 74 competition, and if it breaks through, keep watching the 75.5-7 test expectation. There may be resistance around 74 above the top within the day, but whether you can fight short or short depends on the actual situation. However, 75.5-7 above can still be regarded as the key pressure. If the pressure measurement reaches this point today, you can try short-term participation. For detailed suggestions, you can join my circle to view. In a word! Follow my footsteps if you want to make money, you won't be disappointed Jesus said
TVC:USOILShort
by Prometheusinfinance
Crude oil is about to return to the upward pathAt present, oil continues to fluctuate in the 70-83 region. Last month, OPEC suddenly announced a production cut and opened higher. After a month of fluctuation, the gap was finally filled last week. Then the top-bottom conversion to the 75.7-75 region has become an important support in the short term. As for crude oil short orders, there is no rush to participate for the time being, and the technical outlook is rising; News that lower oil inventories are also a factor in the rise in crude oil; in addition, Saudi Arabia and Iraq will reduce production at any time to protect oil prices and revenue, and the probability of a sharp decline is very small, so today's crude oil trading is mainly based on low-level long positions. So our trading strategy and signals are very clear. I have published the detailed trading signals in my channel. You can enter to receive them.
TVC:USOILLong
by Short-term-king
Has crude oil stopped its decline?Can we buy crude oil?Because of market concerns about the recession, the demand for crude oil has been hit to a large extent. Then the acceptable price of crude oil in the cycle of slow economic development is in the 70-65 area. People familiar with the crude oil market must know that crude oil basically fluctuated in the 70-82 area in the early stage. Judging from this, crude oil still has room to continue to fall. Judging from the current crude oil trend structure, crude oil has fallen sharply and broken below the flag-shaped consolidation structure, and the bearish trend is obvious. Although the current downward trend has paused, there is no signal to stop the decline completely, and the rebound here is extremely weak, so the pause here may be to build a downward relay structure. In addition, in the ultra-short-term structure, crude oil has repeatedly tested the support near 74 without breaking below, so in the case of a short-term plunge in crude oil, there is a need for technical upward repair.And there is 50% support for Fibonacci below the short-term, so crude oil may also use this to launch a small-level rebound.Therefore, pay special attention to the defensive situation near 74 in the short term. In trading today, the trading signals I announced on the channel to go long gold around 1980 and 1976 all reached the take-profit target of 1986. The trading signals in the last two weeks have achieved a comprehensive victory, and the result of 0 losses is enough for us to reap satisfactory profits.In trading, whether it is gold or crude oil, I have the ability to satisfy your desire to make money. I have announced detailed trading signals about crude oil in the channel. Please pay attention to the trading signals in the channel.
TVC:USOILShort
by Short-term-king
Is CL Preparing For A Big Bounce?Technical Analysis: - Crude Oil(CL) is still doing a ((W)) ((X)) ((Y)) correction structure in Daily Chart - We present two possible Paths - For Path 1 in Black with 65% probability. We expect that the correction will be completed at around HKEX:53 -56 where the smart buyers can appear - For Path 2 in Blue with 35% probability, We expect that the correction will be completed at around HKEX:40 where the smart buyers must appear - In short term, It's doing wave ((X)) in black once it's done we can forecast the buy area more precisely - H1 right side is up - H4 right side is turning up - In orange decision area, the Path 1 will increase the odds if H4/Daily RSI divergence are erased - CL is still not preparing for a big bounce really Technical Information: - Don't sell CL in short term - As a swing trader, you must wait for the correction to be completed in wave II in red in order to buy at around HKEX:53 -56 in Path 1
NYMEX:CL1!
by Market-Right-Side
After the oil is completed to fill the gap,can we go long on oilBecause of the impact of the banking crisis and the U.S. debt ceiling issue, the risk that the economy may fall into recession has been exacerbated, and U.S. data show that consumer confidence is insufficient, which is a very big blow to the demand for crude oil, causing crude oil to plummet in the short term and completely make up for the technical gap. Can crude oil be bought with confidence? In fact, according to the structure of crude oil, crude oil fell sharply and fell below the flag finishing structure, which laid the foundation for the short trend of crude oil, and there is currently no signal to stop the decline completely, so there is room for crude oil to go further down. However, from the point of view of the short-term structure, crude oil fell below the flag-shaped finishing structure for the first time, and completely filled the technical gap in one fell swoop. In the case of a short-term plunge in crude oil, there is a need for technical upward repair.And there is 50% support for Fibonacci below the short-term line, so for the first time in this position, you can try to long crude oil in the short-term. In trading today, the trading signals I announced on the channel for shorting gold around 1999-2000 and 2006 all reached the take-profit target of 1995. The trading signals in the last two weeks have achieved a comprehensive victory, and the result of 0 losses is enough for us to reap satisfactory profits.In trading, whether it is gold or crude oil, I have the ability to satisfy your desire to make money. I have announced detailed trading signals about crude oil in the channel. Please pay attention to the trading signals in the channel.
TVC:USOILShort
by Short-term-king
Don't Buy CL Now!Technical Analysis: - Crude Oil(CL) is doing a ((W)) ((X)) ((Y)) correction structure in Daily Chart - We expect that the correction will be completed at around HKEX:50 -55 where the smart buyers will appear - In short term, It's doing wave ((X)) in black once it's done we can forecast the entry area more precisely - H1 & H4 right side are turning up Technical Information: - Don't sell CL in short term - Wait for the correction to be completed in wave II in red in order to buy
NYMEX:CL1!
by Market-Right-Side
2
Can crude oil continue to rise?On the news side, the IEA monthly report on Friday was released. The International Energy Agency said in its monthly report on Friday that world oil demand will grow to 2 million barrels per day in 2023; on the supply side, OPEC+ production cuts may lead to supply shortages in the second half of the year, which also restricts the decline in oil prices to a certain extent.In addition, the current entry of daylight saving time, more travel demand itself has reached the peak season of oil, and oil prices will be boosted by demand from many aspects and will usher in a new wave of increases. Judging from the recent trend of crude oil, crude oil stepped back to 81.6 twice on Friday and was steadily caught by the bulls, indicating that the support below is strong and the rise will continue, so for the short term, continue to maintain the bullish thinking.Moreover, under the current pressure on oil prices, the strength of the pullback is limited, and oil prices have been fluctuating below 83.5 for the past five months. Once the resistance in this area is broken, it is expected to accelerate the rise and enter a new trading range. I will share specific transactions and operations in real time on my channel based on intraday details.In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILLong
by Short-term-king