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Oil(wti)

Crude Oil Approaches Key 90 Mark, but RSI Warrants CautionCrude oil is showing multiple Bearish RSI divergences, but the fundamentals -- which take precedence (IMO) -- e.g., OPEC spare capacity, Ukraine, increasing demand, etc., appear increasingly bullish. EIA inventories due out this week show an expected build of 962k barrels, according to Bloomberg. That would mark the third week of storage increases for WTI, but Cushing, Oklahoma, stocks have seen a corresponding reduction. If prices continue to increase, the 90 psychological level may offer up some resistance.
TVC:USOIL
by Thomaswestw
2
SPZX Key Event Risk for Tues 1/11 | Fed Upcoming etc.Starting Saturday, private insurers will be required to pay for over-the-counter HIV testing. This will make it easy for individuals to check for illnesses and halt the Omicron strain of the virus from spreading. As a result of mixed employment reports, the US dollar declined. The rates on Australia's and New Zealand's benchmark 10-year government bonds are higher than they were a few months ago. During Asian trading, crude oil increased a smidgeon, but gold plummeted. Following the crash in Treasuries on Friday, the news sent bond markets in Asia into a tailspin.
TVC:SPXShort
by SteadyTradeAI
CRUDE OIL (WTI) Technical Outlook & Swing Analysis 🛢 Hey traders, WTI Oil keeps trading in a global bullish trend. On a weekly time frame, the price formed an expanding bullish triangle setting the equal lows around 62.0 level and setting the higher highs respecting a major rising trend line. I will expect a bullish continuation within the boundaries of the triangle. I believe that quite soon the price will reach 84.0 level and with a high probability will go higher to 91.0 - 96.0 resistance cluster. ❤️Please, support this idea with like and comment!❤️
TVC:USOILLong
by VasilyTrader
29
CRUDE OIL Long From Support! Buy! Hello,Traders! CRUDE OIL fell sharply and lost almost 28% But then the price hit a strong daily strucutre And a bullish reaction followed I think that the level will hold And if you take a look at what is happening On the lower timeframes, you will see A kind of a bullish wedge pattern So after a potential retest of the level And a breakout of the wedge I belive oil will go up again Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
TVC:USOILLong
by TopTradingSignals
8
OIL/USD Bouncing at key Support & OPEC+WTI is recovering had a huge selloff in response to the Omicron Variant of Covid leading to many countries shutting down travel and concerns it will be another wave. OOPEC has to consider we are now nearly $20 a barrel lower so my attempt to stabilize by lowering outpot and cancelling and plans for increasing production. Also any good news on how deadly and vaccine resistant the new strain will be can move the market immensly. Targetting up to $75 on good news or $70 on normal technical bounce.
EASYMARKETS:OILUSDLong
by easyMarkets
🛢️ OIL- Support Now and off to 80-93$ 🛳️Further to our previous idea last week : Price is back on he rise after the mini-crash last Friday on Botswana mutation fears. NEWS: Omicron appears to be producing more mild cases of COVID-19 so far. Public health officials are encouraged—but cautious Crude Oil Prices Could Reach $125 a Barrel. Here’s Why . Expectation is that most likely price can rise again now. Back to the 80$ mark or even further , in an attempt to break back into the previous ascending channel on our chart. Cheaper Oil can partially fix inflation but at this stage nobody wants to miss the Xmas season. Especially Europe on a weak euro and the rest of the world after last years lockdowns. Mutation do tend to spread faster but to be less serious. May this pandemic be over soon even if we pay more for Oil for a while. one Love, the FXPROFESSOR Crude Oil - Wti Back to 70,64
TVC:USOILLong
by FX_Professor
1
Crude Oil Price Analysis: Can oil price up again? Oil prices are up in trading today as traders eye potential for a bounce-back after being badly beaten down at the end of last week. WTI suffered its worst performance this year with an 11% drop to $67.50 before finding some footing again around $71.50. Although it remains weaker than usual due mainly because there's no sign yet that supply confronted by demand will ease anytime soon—even though most analysts still think inventories have been building too much all winter long. The oil markets were in a slump on Friday as the Omicron headlines hit. Still, there is a serious consideration that what may heavily dampen oil bullishness due to recent developments. Suppose more people die from this virus next year. In that case, those investing money in oil will lose hope for it being an optimistic fundamental outlook that could cause them to make decisions based on fear rather than the possibility. This passage mainly discusses how one event can change many peoples' perspectives about what they believe their future holds. Even we saw last year oil price dropped nearly $00 for somewhile. So, if the pandemic situation becomes worse like the previous year, the oil's demand will collapse, and crude oil prices may drop again vastly. The ramifications of an Omicron variant crisis are huge, but it's not all gloom. If border controls tighten and more onerous restrictions are imposed globally again, there will probably be no quick fix to resolve the global oil market outlook. We should be careful until vaccinations have had their chance at relieving us from worst-case scenarios once more if they're needed even sooner than expected. If the world leaders can control Omicron and prove nothing more than a hiccup, Friday's retreat will be quite the dip to buy in on Friday, especially when we still need a few weeks. But, one can't rule out dead cat bounce just yet because it may take some time for things to settle and cool off from such high volatility movements. Suppose Omicron is just a hiccup. Then, it will continue its buying pressure. And If Omicron is absolute, then it will continue its Selling pressure again.
TVC:USOIL
by Gold_Trading_Expert
WTI Falls 13% In A Day; The Battle For The Price Of Oil ContinueThe price of oil dropped 13% on Friday (26/11/21), marking the commodities worst single day in 2021. A drop in oil prices this large was last seen in January/February 2020, when WTI was making its way down to unprecedented negative per barrel territory. No one expects oil to veer this low again, but the comparison to 2020 is apt, with Coronavirus responsible for the commodity’s downfall on both occasions. New Coronavirus variant discovered in South Africa An effort to lower the price of oil had begun before the new Coronavirus strain, named the Omicron variant, appeared. Led by the US, a strategic release of Oil reserves was being enacted or considered by members of the International Energy Alliance (IEA) in an attempt to lower the price of oil, which they saw as hampering their respective economic recoveries. It has been claimed that the strategic release would have little effect on the oil price, as the quantity to be released is half of the world’s daily consumption. Yet, oil has fallen from its 2021 highs of US ~$85 per barrel since the announcement. In response, OPEC+ was said to be reconsidering its plan output increase to counter the strategic reserve release by the US and its IEA allies. The OPEC+ rumours helped plug some of the losses oil was experiencing, but not enough to stop consistent weekly losses in the commodity’s price. By Friday, oil had rung up five weeks of straight price decreases. Is the Omicron threat overshooting the fair price of oil? The Omicron variant is possibly the worst coronavirus variant known, as reported by the BBC. However, uncertainty exists as to how vaccine resistant, virulent, and deadly the strain is compared to its predecessors. As such, countries quickly moved to restrict travel from South Africa, reminiscent of January/February 2020, when international travel came to a screeching halt, and the price of oil fell from US $63 per barrel to sub-zero. Countries that have placed travel restrictions on South Africa (and other African nations) include the US, the UK, and Germany. As of writing, WTI is trading at US $68.16 per barrel, as mentioned above, 13% lower than Thursday’s price. Two questions come to mind: Has the market reacted too severely to the threat posed by Omicron? Can the strategic release of oil by IEA nations now be halted or pared back? Regarding the former, Goldman notes that Omicron should have only warranted a ~6.5% drop in the price of oil and that the commodity should quickly recoup some of Friday’s dip. Regarding the latter, it might not be too late to turn this tap off. IEA nations have pledged to release as much as 80 million barrels of oil, with 50 million of these barrels coming from the US. However, a genuine commitment from IEA members has yet to be agreed upon, with discussions still underway as of Friday.
TVC:USOIL
by BlackBull_Markets