Oil Trend in OctoberThe wedge has been valid for about 3 months. According to MACD, we can see weakness and bear exhaustion in the price. Considering the current fundamentals, we can expect a sharp movement toward the upper resistance.
Oil(wti)
CRUDE OIL Short From Resistance! Sell!
Hello,Traders!
CRUDE OIL is trading in a downtrend
And the pair will soon retest
The broken key horizontal resistance
From where a bearish move down
It to be expected
Sell!
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See other ideas below too!
Crude Oil since the US Presidential Election vs UkraineJust a commentary about President Biden's Press Secretary saying that the Ukraine situation has caused oil prices to be elevated.
The advance from the lockdown/reopening may have been a much more important factor in the current market price.
The fear that investments in new oil refining wouldn't generate a return with an administration vehemently against oil has prevented projects from getting funded. Projects have a long time line from start to finish, measured in years.
The price had tumbled to generational buy levels in the wake of the Covid Lockdown response and economic stagnation in 2020-2021. So the natural rebound would have taken us back to this level anyway.
It's an interesting picture to see how the market moved versus how people are saying the market has moved.
IF the price goes back UNDER the Ukraine level of February 24th, then you can rightly assume that a large correction and wipe-out of speculators is underway.
The idea of this chart is that NEWS is important to graph so you can see the level where it happened. That NEWS level will be key on any future revisits to that level. It is the foundational idea behind "Key Hidden Levels" where we graph the Earnings Day on our charts to help us define low risk, high reward potential trade setups.
Tim
9:52AM EDT May 19, 2022
Crude Oil (WTI) Bearish Trend Continues 🛢️
Weekly update for WTI Crude Oil.
From the beginning of September, the market was forming a descending triangle formation - a classic bearish accumulation pattern.
Its support was broken on Friday last week.
I believe that it will trigger a further decline.
Next supports: 74.5 / 71.5 levels.
For entries, consider a confluence zone based on a trend line of a triangle and its neckline.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
🛢️ CRUDE OIL - Dropped enough⚡ ⚡ ⚡ 🍂⚡ ⚡ ⚡My lasy idea in July was a short on Wti Oil price and it did happen despite the fact that so many of you messaged me with an opposite opinion:
What's next?
I see support now at 76 or lower at 71.92
One Love,
The FXPROFESSOR
Crude Oil (WTI) Important Breakout & Bearish Outlook 🛢️
Hey traders,
WTI Crude Oil broke and closed below a major horizontal weekly demand cluster.
I believe that it is very strong bearish clue and it may push the market much lower.
The closest support that I spotted is 66 level.
It might be the next mid-term goal for sellers.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
WTI oil - 80 USD in sight Since our last update on oil, much has not changed. Therefore, we continue to be bearish on USOIL and stick to our short-term price target of 80 USD and a long-term price target of 70 USD. Our views are based on technical and fundamental factors we reiterated throughout 2022.
Illustration 1.01
Illustration 1.01 displays the daily chart of USOIL. Additionally, it shows two yellow arrows that indicate natural price retracements toward its 20-day SMA and 50-day SMA (which acted as a correction of the downtrend).
Technical analysis - daily time frame
RSI, Stochastic, and MACD are bearish. DM+ and DM- are bearish. Overall, the daily time frame is bearish.
Technical analysis - weekly time frame
RSI, Stochastic, and MACD are bearish. DM+ and DM- are bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
USOIL 23rd SEPTEMBER 2022Oil prices slipped below the US$85 per barrel level after the US central bank, the Fed, announced an interest rate hike.
U.S. oil demand over the past four weeks fell to 8.5 million barrels per day (bpd), the lowest since February, according to the Energy Information Administration (EIA). On the other hand, there was a 1.1 million barrel increase in crude oil stocks last week.
The European Union is considering restrictions on Russian oil prices, as well as on high-tech exports to Russia, as well as sanctions in the event of an escalation of Moscow's war in Ukraine.
On the other hand, China's crude oil demand is also still pressured by tight restrictions due to Covid-19.
OPEC crude oil exports have been fairly stable, since the high increase in demand earlier this month for an early winter contract.
When Russia refuses to 'restrictions on Russian oil prices', and OPEC starts to 'reduce oil exports', that's we can see prices will tend to be bullish.
OIL -12/9/2022-• Oil prices turned bullish recently
• Short term trend is bullish, possible minor head and shoulders in play
• If the scenario is to become true, we are now forming the right shoulder, the last move before the breakout
• Highlighted on the chart is the distance between the head and the neckline which is around 9.00$
• If the bullish breakout occurs, we project this distance to the breakout point
• Target should be around 100 figure, if we get the breakout around 90
• Note: Patterns have a chance of failure quite some times, so it is always recommended to wait for a breakout.
Traders should be patient and try to get as much confirmation as possible such as increasing volume at breakout.
2222 ARAMCO saudi arabian oil SELL nowAccording to my chart analysing , 2222 ARAMCO saudi arabian oi show strong signal to SELL.
USOILHello GUYS THIS MY IDEA 💡ABOUT USOIL is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the Seller from this area will be defend this SHORT position..
and when the price come back to this area, strong SELLER will be push down the market again..
DOWNTREND + Support from the past + Strong volume area is my mainly reason for this short trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
WTI: What goes up must come downLets keep it simple:
We've got a complete cycle hitting 16.236 fib (orange count)
We've got complete subwaves hitting their targets w3 (4.236) and w5 (8.236)
We've are about to confirm a break of trend
Whats next?
Expecting to test $72-$76 area either directly (1.618 fib) or after dancing the broken trendline upwards (from here 1.272) for a while but not crossing it and ideally dying when reaching 0.618/0.5 fib ($103.7 / $107.13)
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
USOIL / WTI~The movement of oil during the updates It seems that the strength of the sellers was noticeable during the daily movement of oil..
~ so a large percentage is that it will breaks the support area..
Energy Natural gas idea (05/09/2022)Natural gas during the day. The correction in wave (2) may be over, as the rise in the third wave has already started, and it may target a new level above 9.78, but this rise depends on trading remaining above the bottom of 5.325 as well, if trading remains above the bottom of 7.530 we may witness an increase in prices.
Our current expectations are to continue the correction before rising again and ending wave 2
Crude Oil dropping contrary to fundamental expectations?.
Crude Oil D1 4-9-22:
- Fundamentally there are lots of reasons to expect higher prices
- Seasonals and technicals however point to more downside
Seasonal:
- Seasonally Oil tends to be weak in Q4
- Weakness started earlier this year so might end earlier also (NOV-midterms ?)
Pivot Points:
- Monthly: Price is below SEP Monthly Pivot, heading for S2 = <80.00
- Quarterly : Q3 predicts a run from QPP to QS1 = Yearly Open = Monthly Range Low = 50% retrace of upswing = 75.00
VWAP:
- Yearly VWAP has been broken lower
- Quarterly VWAP in now in charge
- Need a convincing break above QVWAP in order to turn bullish again
Correlation:
- CADJPY normally follows Oil closely, now big divergence
- Divergence probably due to extreme YEN-weakness
- Gives reason for a closer look into CADJPY
.
Energy XLE idea (02/09/2022)SPDR Select Sector Fund 1H Range
XLE Energy Sector Index is expected to rise to target the third wave. Since prices are above the long-term support level of 70.59, the key support point at 65.48, we expect a downward correction at the moment. Prices are below 85.23. We expect a correction in wave b and then descend again to complete wave (ii).
Energy Natural gas idea (01/09/2022)Natural gas during the day. The correction in wave (2) may be over, as the rise in the third wave has already started, and it may target a new above 9.78, But this height depends on trading remaining above the bottom of 5.325 as well, if trading remains above the bottom of 7.530, we may witness an increase in prices.
Our current expectation is to continue the correction before completing the rise again
Energy XLE idea (31/08/2022)SPDR Select Sector Fund 1H Range In addition to the XLE Energy Sector Index, it is expected to rise to target the third wave. Since prices are above the long-term support level of 70.59, the main support point at 65.48, at the moment, we expect a correction to the downside. Prices are below 85.23. We expect a correction in wave b.
WTI oil - Change in a rhetoric of the OPECIn our last idea on oil, we outlined a scenario for a downtrend correction if the breakout above the sloping resistance took place. A few days later, the breakout occurred, and technical indicators turned bullish. Additionally, a slight change in the rhetoric of OPEC came, with Saudi Arabia and other members hinting at looming production cuts. This development forces us to abandon our price targets because of OPEC's ability to maintain a floor or a lid on oil prices. We will update our thoughts as we get more information concerning the cartel's production. Until then, we abstain from setting price targets for USOIL.
Illustration 1.01
The chart above shows the bullish breakout above the prior resistance.
Technical analysis - daily time frame
RSI is bullish. The same applies to Stochastic and MACD. However, MACD stays below 0 points; if it breaks above, it will be bullish. DM+ and DM- performed bullish crossover. Overall, the daily time frame is bullish.
Technical analysis - weekly time frame
RSI strives to reverse to the upside; the same applies to Stochastic and MACD. DM+ and DM- are bearish. Overall, the weekly time frame is neutral/slightly bullish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
CRUDE OIL (WTI) Detailed Technical Outlook 🛢
Price action analysis on WTI Crude Oil.
Structure & key levels.
Potential scenarios and thoughts.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Energy Natural gas idea (30/08/2022)Natural gas during the day. The correction in wave (2) may be over, as the rise in the third wave has already started, and it may target a new above 9.78, But this height depends on trading remaining above the bottom of 5.325 as well, if trading remains above the bottom of 7.530, we may witness an increase in prices.
Our current expectation is to continue the correction before completing the rise agen
USOIL - The downtrend continuesIn the first quarter of 2022, we warned market participants about the peaking conditions in the oil bull market. Since then, our predictions came true, and USOIL dropped over 30% from its highs, hitting our 100 USD and 90 USD price targets. At the moment, we still remain bearish on WTI oil with a medium-term price target of 80 USD. Our views are based on technical and fundamental factors.
Technical analysis - daily time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish.
Illustration 1.01
Illustration 1.01 shows USOIL down approximately 33% from its 2022 highs. At the moment, we pay close attention to the sloping resistance; a breakout above it will be a bullish sign, potentially hinting at the correction of the downtrend.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
