Get started

Crudeoilforecast

Crude Oil Forecast And Technical Analysis : Eyes on OPEC SummitThe rumours that Saudi Arabia and Russia might decide to increase production caused oil prices to fall to close to 3 % on Friday. Meanwhile; U.S. exports were threatened by potential Chinese tariffs on crude oil and refined products. Saudi Arabia and Russia have already boosted production modestly, and have indicated they were prepared to increase output at that meeting. Some investors were surprised when crude oil and other energy products were included for tariffs at a later date, the official Xinhua news agency reported, citing the Tariff Commission of the State Council. Over the past six months, the United States has exported an average 363,000 bpd of crude oil to China, which along with Canada is the biggest buyer of U.S. crude. Technically: The short term trend is bearish. A bearish flag formation completed in the H4 chart. The target of the formation is 62.80. Crude ended the week 64.24 which meets Fibonacci 78.60 %. At the same level, we see the MM 0/8 Main Support. From the indicator’s point of view, The price is below EMA 50 and EMA 100 in the daily chart. 62.50 is the main support of the prices. Key Levels: On the upside 64.45 and 64.28 are the resistance levels. We plan to use possible pullbacks towards those levels as selling opportunities. 62.50 is the main support of the midterm bullish trend. A daily closing below 64.00 USD will carry the prices to 62.50. Our Bias: BEARISH with the target 62.50 Join Our Premium Club to get the latest analysis and trade ideas with high accuracy.
TVC:USOILShort
by chartreader_pro
Crude Oil technical analysis and levels to watchAs mentioned in the latest analysis, our LONG target was 65.25 – 65.50 region. Then we followed the bearish harmonic pattern, and our second target was 64.06. Price reached the second target and reacted. – 110 pips were not bad – We tried to explain the bullish and bearish fundamentals of Crude Oil. The main trend is bullish. Intraday Levels to keep eye on : 64.84 is the first support. The bullish move will continue as long as the price holds above 64.84. 65.26 and 65.63 are the next targets. Daily closing above 65.63 will take the price 66.41 and 67.49. If the breaks below 64.84, 64.45 and 64.06 will be the targets of Crude Oil. 63.33 is the EMA support and can be used as buying opportunity. Good Luck
TVC:USOILLong
by chartreader_pro
Crude Oil Forecast And Technical AnalysisFundamentally, tensions in the Middle East supporting the Bullish Move in Crude Oil prices. However; climb in U.S. production is capping WTI oil prices and undermining efforts from the Organization of the Petroleum Exporting Countries (OPEC) to prop up prices by withholding production. DXY is also important in the midterm direction of Crude Prices. We need to wait FED's decision and markets reaction. Technically: The main trend is still bullish. On the H4 chart, the price is above all major EMAs. And we see the golden cross of EMA 50,100 AND 200 which indicates a stronger bullish bias. Key Levels. 63.30 remains as a strong resistance. Support zone is 61.70 – 61.30 Pullbacks towards 61.70 can be used as buying opportunities. Another buying opportunity is close above 63.30 and the target will be 65.40-65.60 Intraday Levels: 62.50 MM 8/8. Bullish intraday bias will continue as long as the price remains above 62.50. On the downside: 62.11, 61.72 and 61.33 ( Pullback Levels to use as buying opportunities ) On the upside: 62.89 and 63.28. ( Above 63.28, the new midterm target will be 65.40) DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
TVC:USOILLong
by chartreader_pro
CRUDE OIL Retests 66.50, what will be the next target?I will keep it simple and short. I have entered LONG trade from 46.70 And the target was 68.00. Today we have reached the critical point again. Crude will retest 66.40-66.60 regions. Weak USD is helping Crude’s bullish move. However, rising US production and inventories limit the upside move. If Crude breaks and makes a few closings above 66.60, 67.18 and 68.00 levels will be the next targets. If fails to break above, 65.60, 64 and 62.50 will be the targets. DXY will play an important role in the prices.
FX:USOIL
by eacemi
Crude Oil Forecast and Technical Analysis Dec 8thA strengthening U.S. dollar makes a negative effect on Crude Oil prices. However; Chinese data of earlier today supported the price. For the midterm, we keep our idea of 60-62 USD. 2 important fundamentals are supporting the price: OPEC supply cut China’s demand which will this year overtake the United States as the world’s biggest crude importer. China’s crude oil imports rose to 37.04 million tonnes in November, or 9.01 million barrels per day the second highest on record, data from the General Administration of Customs showed on Friday. Crude Oil Forecast and Technical: After a weak EIA data outcome, Crude Oil dropped and tested EMA 200 support of the H4 chart 55.85. After the data, I shared on the telegram channel and mentioned 55.85. It is positive for the Crude Oil price to stay above this support. Traders may have overdone it with lighter holiday volume and we could chart a course for higher prices again. 56.25 and 56.64 have been broken very fast. Now we have reached the main resistance: 57.00 Why 57.00 is important: 1.EMA 100 and EMA 50 resistances of the H4 chart 2.MA 20 / Median Bollinger Bands Line RSI headed North Again. What can be done for intraday trade? An H4 closing above 57.10 will carry the price upper Bollinger Band on the daily chart. The targets will be 57.40 and 57.80. If the price cannot break above 57.10, 56.64 and 56.25 will be tested again.
FX:USOILLong
by eacemi
Crude Oil Forecast and Technical Analysis Nov 17thCrude Oil is trading on the let's wait and see mode. OPEC and Non-OPEC summit will be held on November 30th. Bearish consolidation is in action. I look at “this sell-off” as a technical correction. Above chart is one of my longterm charts. Crude Oil prices broke above the longterm downtrend line and tested 58 USD ( a historical level as well ) Now it pulled back towards the upper line of the midterm rising channel. 55.50 is the resistance of the smaller chart time frames. We can not talk about a trend reversal as long as the price stays above 52.20 ( the borderline of the ex-supply zone which will play a demand zone role now ) 55.20 is the EMA 100 support of the 4 Hours chart. Crude needs to make an H4 closing above 55.50 to continue its upward movement. Price will remain under pressure until close above 55.50. 54.70 is the support of today. Below 54.70; 54.49 and 54.20 are the key levels. Those levels do not change every day. My midterm prediction is Crude Oil prices will meet 60-62 USD. I do not think Russia will let the prices go higher. If the price breaks below 52.20, we may start to talk about a trend reversal. Right now, I do not get any technical and fundamental signal confirming this trend reversal. I will use pullbacks as buying opportunities.
FX:USOILLong
by eacemi
Riding Crude Oil once again.As i successfully mentioned in my previous article on 2017-02-15 Crude Oil is on an ascending channel which is creating a rising triangle with the strong resistance that exists at 54,50$-55$ level. Once again after this previous artivle mentioned Crude Oil rallied until 53,74$ area and then came down to test the 200MA. Technically we can see some signs of fatigue as Crude Oil failed to touch previous highs but it's still moving into it's ascending channel. As we can also see there is good correlation signs with Stochastic RSI. Taking into consideration the enlargement of the O.P.E.C deal and the geopolitical tensions which are in favor of the Crude Oil's price we can enter this nice profit/loss ratio long trade. TECHNICALLY FIRST TARGET T1 AT 53,00$ SECOND TARGET T2 AT 54,30$ STOP LOSS AT 47$ LEVEL UNDER 1)PREVIOUS LOWS-2)200MA-3)TREND LINE 4)lOWER BBAND HAPPY TRADING GUYS!!
TVC:USOILLong
by The_Greek_Trader
1
WTI CRUDE OIL, DAY CHART, LONG (11-DEC-2016)Crude Oil is trying its 2nd attempt to break the resistance zone. There are 3 possibilities here: 1. If it break the resistance zone, wait for PB to the resistance zone and a bullish signal to long. 2. Eventually, it might form consolidation near the resistance zone. If breakout, can directly long 3. If there are 2-3 "2 BARS REVERSAL" to trigger the BEARISH movement, we will change our view to short! A Risk to Reward of 1:3 for this trade :) Fundamentally, the crude oil price rally is due to the oil production cut by OPEC and potential cut from Russia and NON-OPEC Countries. The production cut might not able to reduce the current global stockpile significantly. It might be the reason to hold the crude oil price trading in the range!
TVC:USOILLong
by YongLiang
Crude Oil- B2C- An Exciting Experience 43$ to 52$ & What Next?Crude Oil- B2C- An Exciting Experience 43$ to 52$ & What Next? B2C- (B2C) is a business or transactions conducted directly between a company and consumers who are the end-users of its products or services. Yes, Isn't that lucrative for end users why because products reach directly to the consumers - no middleman- no obstructions- no resistance & crude travels b2c from 43$ to 52$ with a double bottom- an important lesson from this crude journey. What Next- Trading Strategy Could be a start of the downside move from 52$ High & going below 42$ recent low -likely to continue down-which shall be a trading opportunity, but before that there will small upside push from last week's trading closed at Crude from 43$ to 52$- Amazing -Later I took this as WXY pattern as it evolved
NYMEX_MINI:QM1!Long
by WaveTalks
/CL - Comex Market Analysis and Trading Tips - 28th June 2016Overview: The Crude oil market had a fairly negative day on Monday, as market continue to worry about all things European Union and United Kingdom related. The primary trend of Crude oil is bearish on charts. On its 4 hourly chart, market is trading below 100 days moving average. It is having important resistance at the level of $48.12 and support level at the level of $46.50. On its 4 hourly charts, MACD is sustaining in its negative territory and RSI is sustaining in its selling zone indicating the upcoming bearish trend in the oil prices. On an intraday basis one can go for sell on higher level strategy. www.tradingsignalreviews.com
FX:USOILShort
by TheBanker
Crude Oil High Significance Elliott Wave Analysis hi Readers, The Chart deals with weekly time Frame As we now Know that the wave Y in Grand Super Cycle degree & hence the initiation of X wave after Y has pushed it to new highs, say to the current levels. The important idea is that the W within the current X wave in one lesser degree has been progressing as w,x,y,x & z within which waves W,X & Y are completed. so , after an intermediate downtrend for completing the X wave, the market resumes its upper trend to the areas of 55.12 $ For analysis below this degree, that is on daily time frame click here , Thanks for reading Feel free to contact us in need of any assistance Happy Trading Dinesh -senior Technical analyst LeadBrains FSL - www.mytradingcourses.com Trading education & training firm
NYMEX:CL2!
by DineshKrishna
2
Crude oil - Is the bottom visible yet...? Resuming from previous Crude oil Post in the blog, check it here... Obviously yes the bottom is in the visible limits We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within which the waves ABC have been completed and the remaining two legs D & E are about to be completed and as in a descending triangle the characteristics of the same is to test the support multiple times and which is what the D wave is going to do exactly and after that the E ( FINAL ) wave as dictated by the principle will be a multiple of FIBO numbers, with respect to Previous C wave rally and most possibly the .786 will be the target for the above stated E wave. View the video as it also explains below one degree from daily charts to H4 charts. visit the thread with video here, www.mytradingcourses.com
NYMEX:CLJ2016Short
by DineshKrishna
What is crude oil's next decision...? Resuming from previous Crude oil Post in the blog, check it from what's happening section... We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within which the waves ABC have been completed and the remaining two legs D & E are about to be completed and as in a descending triangle the characteristics of the same is to test the support multiple times and which is what the D wave is going to do exactly and after that the E ( FINAL ) wave as dictated by the principle will be a multiple of FIBO numbers, with respect to Previous C wave rally and most possibly the .786 will be the target for the above stated E wave. View the video as it also explains below one degree from daily charts to H4 charts. www.mytradingcourses.com
NYMEX:CLJ2016Short
by DineshKrishna
4