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Crudeoilfutures

Micro WTI Crude Oil Futures(MCL1!),H4 Potential for Bullish RiseType : Bullish Rise Resistance : 100.74 Pivot: 98.96 Support : 97.95 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 98.96 where the swing high resistance, 78.6% fibonacci projection and 78.6% fibonacci retracement are. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 100.74 where the swing high resistance, -27.2% fibonacci expansion, 127.2% fibonacci extension and 100% fibonacci projection are. Alternative scenario: Alternatively, price could drop to the 1st support at 97.95 where the pullback support is. Fundamentals: Due to the weakness in DXY, we have a bullish view on Crude Oil.
NYMEX:MCL1!Long
by Genesiv
LIGHT CRUDE OIL FUTURES (CL1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 104.47 Pivot: 101.56 Support : 95.17 Preferred Case: On the H4, with price moving within a descending channel and RSI moving along a descending trendline, we have a bearish bias that price will drop from the pivot at 101.56 where the pullback resistance and 78.6% fibonacci retracement are to 1st support at 95.17 in line with pullback support and 61.8% fibonacci retracement . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 104.47 where the pullback resistance is. Fundamentals: Due to the uncertainty over the German gas crisis and supply constraint of oil , we have a bullish bias on oil . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
NYMEX:CL1!Short
by Genesiv
Micro Crude Oil Futures (MCL1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 98.38 Pivot: 95.18 Support : 90.69 Preferred Case: On the H4, with price moving below the ichimoku cloud and within the descending channel, we have a bearish bias that price will drop to the pivot at 95.18 where the overlap support is. Once there is downside confirmation of price breaking pivot structure, we would expect bearish momentum to carry price to 1st support at 90.69 in line with swing low support and 78.6% fibonacci projection. Alternative scenario: Alternatively, price may rise to the 1st resistance at 98.38 where the pullback resistance, 78.6% fibonacci projection and 50% fibonacci retracement are. Fundamentals: Due to the uncertainty over the German gas crisis and supply constraint of oil, we have a bullish bias on oil. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
NYMEX:MCL1!Short
by Genesiv
CRUDE OIL FUTURES (CL1!), H1 Potential for Bullish MomentumType : Bullish Rise Resistance : 9999 Pivot: 9410 Support : 9124 Preferred Case: On the H1, price is moving above the ichimoku cloud and within the ascending channel which supports our bullish bias that price will rise from the pivot at 9410 where the swing low support and 23.6% fibonacci retracement are to the 1st resistance at 9999 in line with the swing high resistance and 161.8% fibonacci extension. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 9124 in line with the overlap support, 23.6% fibonacci retracement and 50% fibonacci retracement. Fundamentals: The worries over a recession in the US and the ongoing Covid-19 situation in China are likely to balance the supply-side constraints faced by oil producers, resulting in a mixed bias for crude oil.
MCX:CRUDEOIL1!Long
by Genesiv
CRUDE OIL FUTURES (CL1!), H1 Potential for Bullish MomentumType : Bullish Rise Resistance : 9753 Pivot: 9312 Support : 9129 Preferred Case: On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 9312 where the overlap support is to the 1st resistance at 9753 in line with the pullback resistance, 161.8% fibonacci extension and 100% fibonacci projection Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 9129 in line with the overlap support. Fundamentals: Due to the Russian-Ukraine invasion and a shortage of oil shipments from Russia, oil prices are projected to continue to increase. As a result, we've adopted a bullish stance.
MCX:CRUDEOIL1!Long
by Genesiv
CRUDE OIL FUTURES (CL1!), H1 Potential for Bullish MomentumType : Bullish Rise Resistance : 120.88 Pivot: 119.21 Support : 117.64 Preferred Case: On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 119.21 where the pullback support is to the 1st resistance at 120.88 in line with the swing high resistance and 61.8% fibonacci projection Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 117.64 in line with the overlap support and 38.2% fibonacci retracement . Fundamentals: Due to the Russian-Ukraine invasion and a shortage of oil shipments from Russia, oil prices are projected to continue to increase. As a result, we've adopted a bullish stance.
NYMEX:CL1!Long
by Genesiv
Gap Fill or Sky rocket? Crude Oil FuturesSo as we know Crude has been pumping passed few months especially last few weeks. Ever since gapping up to 130 about 2 weeks ago we created a head and than A right shoulder and fell down. We do have a gap need to be filled highlighted below. Especially if the rest of the Indices like SP500 and Nasdaq push up Lets see! I had 107p and 105.5 contracts i closed out right around 100. wish i had held. :( Anyways Hoping to go back bullish and go back towards 130 again!
NYMEX:CL1!
by ArmaanOG
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