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Oil(wti)

Oil WTI, D1 - new lows after an irregular correctionThe price of WTI oil has reached the new low after a described earlier an irregular correction. As we mentioned in the previous analysis, the price of oil could be under pressure even after production cuts. Looking at the whole structure the price may head towards the 161,8 Fibo expansion near 10 USD per barrel. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TVC:USOIL
by Daniel_Kostecki
The Oil War is "Over".. the party is over.There are so many fundamentals I exhausted on yesterday's research and analysis of the underlying factors so please have a read through those. My fundamental long bias now results from simple supply side economics. In conjunction with this, many to nearly all over-leveraged mid and large cap oil companies and their contracts (strategic partnerships/contractors) have fallen and will be consolidated. This will lower multiples, and force a much clearer focus to bottom line effenciens and choke points to very low acceptance thresholds. As oil tanks become filled to capacity, Oil cuts will reduce and inflation will raise once COVID ends and the world enjoys 10$ round trip flights and 0.96$/ gallon gas for their summer vacation with their Trump check. Things will get better economically, and Oil is undervalued it's sick. The Alliance between Opec and Russia may cease headlines for now, allowing algo's to let go and fundamentals take over in a natural market again. OPEC will cut 9.7 million bbl's per ay, just below the proposed $10 million. This is a lot of oil and is capable of suppressed asks to sustain bullish rallies. Futures now showing 30$ a bbl.. thus, I'm now long oil. Big time. Stopposses will be updated when I enter long. All oil long entries closed.. 10:37:07 (UTC) Mon Apr 13, 2020
TVC:USOILLong
by TayFx
26
WTI Crude - An End to the Price War?Market has high expectations for OPEC+++ The stand-out event today is undoubtedly the OPEC+++ meeting, where producers will attempt to find agreement on output that addresses the collapse in demand and crude prices. No one is winning in this environment but, as ever, each are losing to different degrees and have a different ideas on how it should be resolved. I don’t think a grand deal is as nailed on as markets would have us believe but, as ever, common sense should prevail. If a substantial deal is going to get over the line, the US must play a part in some form. It is currently hoping that a market-driven, forced production cut will be enough to convince other producers to cut but I’m not sure that will be enough. Other assurances will be necessary to get Russia on board, which is the biggest risk to a deal. That said, traders have heavily bought into this potential deal, following President Trump's tweet last week. The risk now is not just whether a deal is done but, if it is, will it be enough? I'm not sure a 10 million barrel cut will be enough to hold the gains and even 15 million may just about given the demand destruction we've seen. Should we see above 15 million barrels, it could give the oil price a big boost, with the break of $30 in WTI potentially being the catalyst for another big move higher. The next notable level above here is $35 and if producers want to see higher than this, the cut may have to be closer to 20 million and include the US in some form. Oil has jumped today on reports that Saudi Arabia and Russia have reached a deal on cuts of up to 20 million. The headline sounds good but the small print may not read quite as well. Should this be confirmed without any drawbacks in the fine print, I'd expect oil prices to rise more than they have. There's always the risk of "buy the rumour, sell the fact" strategies going into these things which is why the detail and believability is so important. From a technical standpoint, this looks like a market that's bottomed and just waiting to pounce above $30, but for that we need confirmation. A break above $30 says traders are satisfied with the cuts, at which point we may be able to look upwards for the first time in a while.
OANDA:WTICOUSD
by OANDA
OAS LongOasis Petroleum was one of the hardest hit producers following the collapse of oil. As oil begins to recover and OPEC+ agree on productions cuts, we will see OAS begin to climb back. As the RSI chart indicates, the price has oscillated in a tight range. However, the RSI has begun to diverge and move upward indicating a bullish bias. The stock as at all times lows. Oil is not going away any time soon. Safe to accumulate long positions here in my opinion. Best of luck trading!
OLong
by Premium_Tendies
5
CRUDE OIL (WTI) KEEP CALM! TREND IS STILL BEARISH! hey guys, reading news outlets and ideas on tradingview, the forecasts are all bullish right now! people are urged to buy from any level based on the fundamental news. be very careful! though we truly see a dramatic shift and strong bullish rally this week, don't forget that technically the trend remains bearish! moreover, currently, the price is trading on a key structure resistance level and for now buyers could not break above that and we see a negative reaction. the next safe opportunity to buy will come only after a bullish breakout of the underlined resistance, for now just patiently watch the reaction of the market. it is still possible that next week we may see a perfect signal to short. so no rush right now! good luck and have a great weekend!
FX:USOILEducation
by VasilyTrader
38
WTI Oil, H4 - possible wave CThe recent sharp upward movement on the oil market caused by Donald Trump’s tweets looks like a possible wave C in a larger corrective movement. Previously the price of crude oil has reached the new low and has created a potential wave B which consists of three waves down. Before wave B we may spot a nice sharp rally which could be labeled as wave A. Currently the wave C may have been created. The potential resistance may be located at the wave A top near 28,20 USD. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TVC:USOIL
by Daniel_Kostecki
1