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Oilforecast

Oil Gap - A Game Changer for its PricesGap means a runaway in prices or a confirmation of a clean break away from its downtrend line. (Technical) OPEC-Plus made a surprise announcement to reduce oil production starting May. Unlike OPEC, OPEC-Plus involve many more countries. This signals a synchronise effort to boost crude oil prices. Expect a much higher oil prices to come. (Fundamental) My recent crude oil videos: • Crude Oil Outlook - USD106 as major resistance • Why Crude Oil is Trending Higher Again, Breaking Above US$100 • Correlation - Crude Oil & CPI • Crude oil a leading inflation indicator See its link below. 3 types of crude oil for trading: • Crude Oil Futures 0.01 per barrel = $10.00 Code: CL • E-mini Crude Oil Futures 0.025 per barrel = $12.50 Code QM • Micro WTI Crude Oil 0.01 per barrel = $1.00 Code MCL Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
NYMEX:CL1!Long
by konhow
OIL supply cut price effect 2023OIL ---IMPORTANT UPDATE Good morning everyone, here with an important update on OIL I have been charting and using the chart below as reference since Wave #2. I was hoping we could drop more but a turn of events has occurred on the past days with the world as we all know. Its all a mess and we got to figure out how the world is going to run now. However, as of yesterday, a game changer piece of news just dropped with talks about cutting oil production output until end of 2023. How will this affect the economy? -Cutting supply means shortage. Shortage means scarcity and we all know resources up in value when they are scarce. While cutting supply can lead to a shortage and eventually scarcity, the impact on a resource's value is not always straightforward. Scarcity can drive up the value of a resource in some cases due to increased demand and limited availability. However, in other cases, scarcity can lead to decreased demand as consumers may seek alternative resources or solutions. Therefore, it is important to consider the specific factors involved in determining the impact of supply, shortage, and scarcity on the value of resources. If Saudi Arabia, along with other countries, agreed to cut oil production until the end of the year, it could have several effects on the oil market, including: 1-Increase in oil prices: By reducing the supply of oil in the market, the demand for oil could exceed the available supply, which could cause oil prices to increase. 2-Increase in demand for alternative energy sources: As oil prices rise, consumers may begin to seek alternative energy sources, such as natural gas, solar, or wind power, which could reduce demand for oil. 3-Impact on global economic growth: Higher oil prices can lead to increased inflation and higher transportation costs, which can negatively affect global economic growth. 4-Geopolitical impact: Changes in oil production can also have a geopolitical impact, as oil-producing countries may have to renegotiate their trade relationships and alliances. My opinion on what is going on: US is dealing with banking crisis caused by growing inflation. Higher oils = increased inflation. A real recession is about to occur, however, the world believed it was going to affect globally and it is not going to be the case. Truth is, the only ones really experiencing a recession is the US as we are witnessing the death of the US DOLLAR. media.discordapp.net
TVC:USOILLong
by CryptoGao1
OPEC announced a production cut,how much upside is there for oilSaudi Arabia and other OPEC+ oil-producing countries announced further production cuts of about 1.16 million barrels per day on Sunday, which provided strong upward momentum for oil prices. They opened directly higher during the day and are currently slightly lower, trading near US 80.47. Judging from the trend of crude oil, the high price this morning just touched the important pressure level at the top of the platform in the early stage, so there is demand for a technical decline in the short term.The current rebound of crude oil has exceeded expectations, and the structure has also undergone variables. If the pressure continues, we will first look at the phased replenishment action. Short-term trading reference: Try to sell crude oil in small batches near 80.5, with a take profit level of 79.4--79 In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
Can the oil price recovery last?Judging from the trend of crude oil, since crude oil rebounded above 74, the technical bullish signal has been significantly strengthened.However, although the current oil price has returned to the range of the box, on the whole, the current price has basically touched the vicinity of the pressure zone of the previous box shock.In addition, judging from the strength of the recent rebound, it has not been as strong, so the trend may face a certain level of adjustment in the short term, and there is a technical need to step back on the midline of the channel to confirm the demand.After the last wave of the 4-hour level trend rose, the price was temporarily.The narrow volatility that remains at a high level weakens the strength of the upper attack, so there may be a trend of spatial correction in the short term. Short-term trading reference: Sell crude oil near the 74.3 position, stop loss level 74.7, take profit level 73.2 In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
Rising oil prices are under pressure, so be careful of trapsAlthough the interruption of some exports from the Kurdistan region of Iraq has raised concerns about tighter supply, the United States is expected to start strategic reserve repurchases during the year, which will also benefit oil prices to promote a rebound in oil prices.However, because of the geopolitical situation between Russia and Ukraine, it is more the West that sanctions Russia, so it will not allow oil prices to rise sharply and have sufficient income, thus limiting the room for oil prices to rebound to a certain extent. From the perspective of crude oil trends, since the surge on March 27, there has not been a decent pullback and repair, so crude oil technically needs at least a second pullback to prove the effectiveness of the oil price increase. Short-term trading reference: sell crude oil near 74, stop loss level 74.4, take profit level 73.3 In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
1
The rise of crude oil bulls is unstoppable?Because the banking crisis has temporarily eased, supply disruptions in northern Iraq have exacerbated supply tensions, and signs of increased demand from China have provided stronger support for oil prices. Judging from the trend of crude oil, after yesterday's sharp rise in oil prices, it rebounded to above US 70, and the technical bullish signal was significantly strengthened.However, although the current oil price has returned to the range of the box, on the whole, the current price has basically touched the vicinity of the pressure zone of the box shock in the early stage, and it has also touched the pressure position of the channel in the short term.Oil prices are under pressure at the point of pressure, and the strength of today's rebound is not as strong, so the rebound that tends to be on the daily line in the short term may be almost gone, then the short-term trend may face a certain level of adjustment.On the other hand, after the last wave of the 4-hour-level trend rose, the price temporarily remained at a high level of narrow volatility. On the hourly-level trend, after a continuous narrow sideways movement, the technical pattern began to gradually weaken, so there may be a trend of spatial correction in the short term. Short-term trading reference: sell crude oil near 73.80, stop loss level 74.2, take profit level 73.1-73 In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
Crudeoil bears are working hard again, where will crudeoil fall?There may not be a shortcut to success, but there must be a way.Give up what should be given up, grasp what can be grasped; only insist on investing in your own investment standards. Yesterday's short crude oil orders reaped very good profits, and the current crude oil is creating favorable trading opportunities for us. At present, the U.S. Secretary of Energy has hinted that the country is in no hurry to replenish the Strategic Petroleum Reserve (SPR), exacerbating concerns about oversupply in the market.In addition, Russia's continued supply of crude oil to the global market has also increased the pressure on the oil market, causing oil prices to fall again. At present, crude oil has fallen as low as 66.8.Judging from the trend of crude oil, the rebound of crude oil has been blocked for two consecutive trading days, and a longer upper shadow line has been left, forming a secondary pressure, so the suppression of resistance above the 71 position is still relatively obvious.I also mentioned in my article yesterday that if oil prices are delayed in regaining the 72.4 position, there is a technical need for a second bottoming demand, which will increase the short-term bearish signal. In the short-term treatment, the upper side initially pays attention to the pressure near 69, and the lower side pays attention to the support near 66.8. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
Crude oil rebounded strongly, opening the way to rise?At present, it is in the process of rebounding after a volatile decline, and the short-term trend is relatively volatile. On the one hand, oil prices have initially bottomed out, which is a bit like a sign of inverted V reversal; on the other hand, oil prices seem to be undergoing a correction after breaking the level and falling.At present, the short-term rebound is relatively strong, but before regaining 72.4, it is still necessary to beware of the possibility of oil prices returning to the downward trend. If the 72.4 position can be recovered, it will be determined that the V-shaped reversal is established and increase the bullish signal in the future.If oil prices are delayed in regaining the 72.4 position, there is a technical need for a secondary bottoming demand, which will increase the short-term bearish signal. In the short-term treatment, the bottom pays attention to the support of the 69-70 line, and the top pays attention to the resistance at the 72.4 position. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILLong
by Short-term-king
OIL ROAD TO $50 , CHEAP OILHello everyone, I have been using this chart ever since wave 2 and have been shorting OIL since $110ish. Why? We all know oil is overpriced and it went up parabolically after having crashed to negative prices. I believe oil has much more to go down as the PetroDollar is dying. China,alongside BRICS members, have united forces to create the PETROyuan and will definitely yield a problem to the PETROdollar. Prices may even go lower than what I especulate but it does not take rocket science to believe what I know. Some important facts about OIL we have to remember: -Oil is one of the most important commodities in the world, used for transportation, heating, and electricity generation. It is a global market with prices affected by supply and demand, geopolitical events, and global economic conditions. -The major players in the oil market used to be Russia and USA but its now China and mother Russia in an attempt to compete against the US economy. -The price of oil is typically quoted in US dollars per barrel but that is now changing as oil rich countries are looking for new relationships with BRICS. -Factors that can impact the price of oil include changes in production levels, geopolitical tensions, natural disasters, and global economic conditions. -The oil market can be traded through futures contracts, exchange-traded funds (ETFs), and individual stocks of oil companies. -When analyzing the oil market, it is important to consider both technical analysis (chart patterns, support and resistance levels, and indicators) and fundamental analysis (supply and demand factors, geopolitical risks, and economic data). Have a nice day everyone!
TVC:USOILShort
by CryptoGao1
1
The decline in crude is supported,ushering in short-term bullsRoman Roland once said that people often feel that the stage of preparation is a waste of time. Only when the real opportunity comes and they are unable to grasp it, can they realize that their usual lack of preparation is a waste of time. Recently, it is mainly due to people's concerns about the global economy that have dragged down oil prices. However, the current market worries have eased, and oil prices bottomed out overnight, and there are some opportunities for short-term oil prices to rebound and adjust.In addition, from the trend point of view, after crude oil got rid of the downward channel, it bottomed out yesterday and rebounded to a stabilizing signal, indicating that the previous stage of the decline is almost over, and it is currently entering the cycle of shock and rebound. In the short-term treatment, the lower support is near 67.9, and the initial pressure above is near 69.8. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILLong
by Short-term-king
The Beast! - Resting may be coming to an end Well Well Well, Oil is back in the 60's with a threat of dipping it's toes in the 50's pool. This is a time where there is uncertainty in the market and everyone is panicking. If you add all of the news plays, one could go mad trying to catch every twist and turn Oil takes people on. anyway, What are we looking at? We are seeing Oil at the lowest point it has been since 2021. Its funny how that happens when the same war that helped push it up to above $100 is still going on. This is why we have to play the news rather than the other way around. So we are currently looking at long scalps and are holding some longs from 64.75. We however know very well, as mentioned multiple times in the past that 61-62.7 region is the real support there as it bounced off of that zone 3 times in 2021,with the last bounce becoming a full blown Bull run to $129/$130 in March of 2022. Below that we have $60 and of course $57 from March 2021. This therefore means that no one should really be super blindly bullish just yet. Oil is never obliged to do anything so it does not necessarily need to go to those levels but there are some Vector Candles don there that have liquidity in the from previous years. The most recent of the 2021 Green Vector Candles from December 2021 to be recovered was the one from 12122021 at $64.44. The next significant Green Vector Candle to recover is at $62.35 which means if the current lows are broken then Price is heading that way. BEARISH VIEW The only reason that Oil should remain Bearish is to go and take out levels from prior years or to do a Covid type crash. The levels we are looking at as destinations for this year long sell are as follows: $63.8, $62.8, $62.5, $62, $61.8, $60.8. $59.8, $57.8, $55 And some of the levels we are looking to re-short down to these levels at if we get a good bounce or range are as follows: $69.5, $70, $70.5, $70.8, $71.7, $72, $72.5, $73.3 BULLISH VIEW The main reason we have become bullish is that since coming below the 50 EMA on the Weekly TF,we have now had 3 big Red Vector candles to the downside. This is what appears as the hits in the lower TFs. Through Hours of Back testing, when this happens there tends to be a run after that. The same applies for Greens in the other direction. What else: (1) The Weekly is approaching over sold on the Stoch RSI (2) On the Fibonacci Retracement tool We have made contact with 50% ($65.30) (Lo 0, Hi 130), on the higher Tfs. (61.8% at $49.92) (3) Demand and Supply- Simply, Price is lower than it has been for awhile an People Dollar cost average into positions for longer term moves. We will see new all time high in Oil in the next 2 years. Or at least a retest of the current one. (4) Inflation is everywhere and this means price of goods will increase and Oil is an essential commodity for way too many reasons. There are definitely more reasons but this is getting a bit long Be careful as the Bearish targets have not all been hit yet, but a long to $70-$72 looks quite safe to execute, even if it test/retests $66-$62 area before doing it This is not Financial advice and should be taken with a pinch of Salt! Good Luck
NYMEX:CL1!Long
by Squeeezy-Trader
Crude oil continues to fall, where will it stop falling?Crude oil prices continued to fall today, and are currently trading near US 65 per barrel.On the fundamental level, the supply and demand structure of the international crude oil market is still a small oversupply. Unless OPEC has a significant production reduction, it will be difficult to achieve much growth on the demand side. Although UBS reached an agreement to acquire Credit Suisse over the weekend, and the Federal Reserve and other six major central banks jointly acted to enhance liquidity to appease and stabilize global financial markets, U.S. crude oil once rebounded by more than 1% to US 67.4 per barrel, but worries quickly picked up again, and the United States still has unresolved banking problems. The market is worried that the banking crisis will develop into a global financial tsunami, which in turn will drag down crude oil demand. U.S. crude oil quickly took back gains and continued last week's decline. It is currently down more than 2%, with a minimum of US 64.4 per barrel, which is December 2, 2021. A new low since then. From the trend point of view, oil prices broke down after a wide-ranging shock at the daily level, and continued to fall after losing the important support of the 70-integer mark. Even if the 70-integer mark was not recovered during the subsequent rebound and the decline continued, the downward break was basically determined. The technical side is biased towards bears, and the future market of oil prices is inclined to further test the support near the December 2021 low of 62.46, and even look at the 60-integer mark.The initial resistance above is near 67. If this position can be recovered, it will increase the possibility of low oil price shock adjustment. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
Crude oil bears are not finished, predict the trend of crude oilAs the banking crisis hit the global financial and oil markets, NYMEX crude oil and Brent crude oil both fell more than 9% this week, and oil prices will record their largest weekly decline since the week of December 9 last year. From the perspective of the trend, crude oil rebounded weakly after breaking through the level. Whether it is the daily or weekly line, it is effectively falling below. Pay attention to the trend after a few months of volatility. The market must continue to take advantage of the trend in the short term. Taken together, crude oil as a whole is still in a bearish trend. At the daily level, crude oil oscillates and breaks downwards, and oil prices lose important support near the 70 mark. The market tends to continue to run downwards in the Bollinger band. The target refers to the position near the low of 62.43 on December 2, 2021.Since oil prices have recorded a longer lower K-line for two consecutive trading days, suggesting strong lower support, a DOJI was recorded on Thursday, and the KD technical indicators are also close to issuing an oversold signal. There is still a possibility of volatility bottoming out in the short term; the initial resistance is near the intraday high of 70, and the short-term resistance can be reasonably lowered to near 68.6-68.8. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
2
Oil prices start to rebound, go long?Oil prices bottomed out and rebounded on Thursday, ending a three-day decline. Earlier, there were reports that Saudi Arabia and Russia met to discuss how to strengthen market stability. The two countries continue to promise to abide by the decision to reduce their production target by 2 million barrels per day by the end of 2023; helped by a strong rebound in the financial sector, US stocks closed sharply higher and also boosted oil prices. However, the risk of spread between banks still makes investors nervous, suppressing their appetite for assets such as commodities, because they fear that further rout may trigger a global recession and reduce oil demand.In addition, market concerns about oversupply still cast a shadow over the outlook for the oil market.The IEA said on Wednesday that commercial oil stocks in developed OECD countries have hit an 18-month high, and Russia's oil production in February remained near the level before the war in Ukraine, despite sanctions on maritime exports. From the trend point of view, oil prices have recorded a longer downward K-line for two consecutive trading days, suggesting strong downward support. On Thursday, a doji was recorded. The technical indicators are close to issuing an oversold signal. There is still a possibility of short-term volatility in oil prices. Bottoming out; however, before regaining the 70 mark, oil prices as a whole are still running in the air.At present, the initial resistance is near 70. If this position can be further recovered, it will increase the bullish signal in the future. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
Crude oil continues to fall, where will it stop?After the recent bankruptcy of Bank of America, the pessimism of global investors lingered, and the increase in API crude oil inventories was greater than expected. It is expected that oil prices will still be at risk of further decline in the future. In the trend of crude oil, the short-term decline continued during the day. The current lowest point during the day reached near 69.82, which broke the support near 70.09 at the bottom of the shock box for the past four months since December 9, and fell below the 70 integer mark, which means that oil prices have broken the shock trend for the past four months and have the possibility of accelerating the decline. Once it is established that the fall below the 70 mark is effective, further strong support refers to the low of 66.15 on December 20, 2021 and the low of 62.46 on December 2. Near the position. In addition, this trading day also needs to focus on the EIA crude oil inventory series data and the IEA monthly crude oil market report. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me.
TVC:USOILShort
by Short-term-king
4
Crude oil: next target 80Scott Sheffield, CEO of Pioneer Natural Resources, a major US shale oil producer, stated at the CERAWeek energy conference held in Texas this week that oil prices have hit bottom and could surge 17% by summer. In an interview, Sheffield said that over the past year ending in December, US production growth was only about half of what was expected and the industry has been facing ongoing issues of declining refinery capacity and inventory. Over the past few months, the price of West Texas Intermediate (WTI) crude oil has fluctuated around $73-80 per barrel. On Thursday of this week, WTI crude oil prices hovered around $77 per barrel, while Brent crude oil prices were around $83 per barrel. Sheffield expects oil production growth to slow significantly, although not necessarily to decline, due to the constraints of refinery capacity and inventory. According to the US Energy Information Administration (EIA), the US produced an average of 11.9 million barrels of crude oil per day in 2022, lower than the record average of 12.3 million barrels per day in 2019. EIA predicts that daily oil production will be 12.4 million barrels per day this year. Sheffield believes that the US may recover to a production level of around 13 million barrels per day in two to three years, which is equivalent to the level recorded in November 2019. He added that this will be a "very slow pace." There are two reasons for the slow growth in US crude oil production: insufficient refinery capacity and limited inventory. Sheffield pointed out that "first, we don't have refinery capacity. If we increase drilling, service costs will rise another 20-30%, which will take away free cash flow. Second, this industry does not have enough inventory." He added, "Our estimate of free cash flow last year was $8 billion, and we expect free cash flow in 2023 to be only $4 billion." As for when oil prices will rise, Sheffield expects that "at some point this summer, WTI will break through $80 and move towards $90 per barrel." The market is changing rapidly, I hope everyone can seize the opportunity and make money The personal free guidance channel is open for a limited time, you are welcome to join
TVC:USOILLong
by Navigation-h