Oilforecast
USOIL / Crude Oil - Bearish Trend is expected this weekUSOIL has tested the resistance and now ready to fall back to 75 to 80 levels.
Fib level tested at 0.382
Heikin Ashi is indicating a down trend
Trade Setup:
Short Oil from Current Price
TP1 80
TP2 75
SL 88
Good Luck to all Oil traders.
I will update the analysis once there is significant price movement.
oil i think oil will go down to 75 then bounce up to 150
if oil breaks the 75 we are going to 40 may be lower
GOOD LUCK
Think twiceMA lot of people is thinking in oil at $50 why if it's going back to $100 and beyond? $GUSH $XOP
Sitting on a strong support Oil hit this support more than five times and it respected this support so if we received candle confirmation above the support rectangle (the green one) we can long oil
But if it closed under the support wait for retest and then we can go short.
Good luck all if you like my idea like it and comment your opinion 🍀💰😊
WTI Crude Oil OPEC+ Token Supply CutOPEC+ unexpectedly decided to cut output in October by 100,000 barrels a day.
Emily Ashford (Standard Chartered analyst): “Last month’s adjustment provided a nod to the demands of the consumers, this monthly adjustment is a small nod to the concerns of the producers,”
Deepening energy crisis in Europe after Russian energy giant Gazprom PJSC said gas flows along a key pipeline to Germany would not resume.
In this economic context my short term price target for WTI Crude Oil is $99.
Looking forward to read your opinion about it.
USOIL Sep 2022 W.1: F&T ForecastFundamental Forecast
-There are several stories unfolding in the energy space that should keep volatility elevated across energy markets, none of which are likely to find any permanent resolution anytime soon.
-Net-long positioning in the oil futures market remains near its yearly low, and its lowest level since August 2016.
-The IG Client Sentiment Index suggests that crude oil prices have a mixed trading bias
Technical Forecast
The trade ideas are derived from the both the monthly and weekly time frames. On the monthly, the price recently closed with a bearish candle below the mini double top neckline and in between the short-term moving averages, dis-confirming the bullish half a bat pattern and the moving averages bullish trend, in confirming a bearish drop for the 3rd Monthly Key Lvl/Monthly Neckline 3 together with the 21/50 moving averages.
Monthly Chart:
Weekly Chart rundown:
As you see in the first chart image, we're looking a 3 possible scenarios that will either confirm or disconfirm the bearish bias. Starting with how it will be rejected, the price will do so after it has bullish broke and retested the Weekly Neckline together with the 50 and 8 moving average. If it bounces off the 2nd Daily Key with a bearish candle formation that leads the price to bearish break and retest the 1st Weekly Key Lvl either on the current or lower time frame, that will trigger and fully confirm the bearish trend.
That's it for today. I hope you gained value from this trade idea. If you have a different concept in mind, feel free to share it in the comments section. I'd love to know your thoughts!
Stay Blessed,
Sphatrades.
WTI BULLISH OUTLOOKWTI rose in value in response of potential OPEC+ cuts and conflict in Libya. This possibility of supply cuts was enough to offset the effect of the strong US dollar.
WTI broke the resistance line of the ascending triangle pattern, a bullish outlook, supported as well by the RSI and MACD indicators.
The instrument might test its previous support level at 99.70, but if the break turns out to be false, the instrument might test its previous support at 94.70
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Good Opportunity to go Long on CLCL broke a trading range held since June 2022.
now CL is retesting the range and forming a key pullback at 92.44.
The market ended this week with a hammer (bullish pattern) that showed the power of buyers.
Going long would be a good idea for investors or swing traders with a 1 3 risk reward ratio.
The price will possibly reach $100 as a potential first target.
it could even rise to 115 if buyers hold power in the next weeks
Wticousd ready to fly are you ready bullish trend startWticousd ready to fly are you ready bullish trend start we are inter in beginning trend .dont missed the setup .if you want more setup always like and comments and shares with friend
oil long ideamy long idea for usoil, I think on de mid-term that usoil goes to 110 dollar per barrel,
Aramco eyes diversification after record Q2 income Is Saudi Aramco (TADAWUL: 2222) looking to diversify its income sources after soaring oil prices helped it deliver record-high earnings in the second quarter?
Saudi Aramco saw its net income nearly double during the three-month period to 173.80 billion Saudi riyals ($46.28 billion) from 90.90 billion riyals.
President and CEO Amin Nasser said increasing demand for the company's products made the record-high earnings possible, adding that it also benefitted from favorable market conditions stemming from strong global crude oil prices.
But as oil prices begin to cool down, Saudi Aramco has set its sights on improving its technology and generating products from different sources.
Reaching New Heights
Saudi Aramco formally listed on the Saudi Stock Exchange Dec. 11, 2019. Upon its debut, it became the most valuable listed company with a market capitalization of $1.9 trillion. It was eventually dethroned by Apple (NASDAQ: AAPL), but thanks to oil price hikes, it reclaimed the title in May with a market value of $2.43 trillion against Apple's $2.37 trillion.
Every movement in the company's price is heavily reliant on oil and energy prices. Saudi Aramco saw major growth when oil prices reach multi-year highs at the beginning of the second half. When war broke out between Russia and Ukraine, oil prices had another boost. Nowadays, industry observers aren't as bullish.
Last week, oil prices tumbled amid fears that demand could weaken due to an impending economic slowdown, Reuters reported.
Given this trend in oil prices, the company had been on the red, dropping nearly 3% to $39.00 since August 14. Its management does not seem fazed, however, with Nasser saying "we expect oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts."
Off to new goals
Nasser, as part of Saudi Aramco's second quarter results, said the company is working to increase production from multiple energy sources, including oil and gas, as well as renewables and blue hydrogen. "We are progressing the largest capital program in our history and our approach is to invest in the reliable energy and petrochemicals that the world needs, while developing lower-carbon solutions that can contribute to the broader energy transition," he added.
Khalid Al-Falih, Saudi Arabia's Minister of Energy Industry and Mineral Resources and chairman of the Saudi Aramco's board, said the company will be on the frontline of the country's Vision 2030. He said the company "will become a much more technology and knowledge-driven organization" and that it "will seek to move, change, and expand into areas that will not only make it more agile and responsive, but also lead the industry into a better energy future."
Oil Further DownsideOil is going through an indecisive patch.
Was this a Double top? That is the key question we need to answer.
Let us look at some fundamentals:
as the world swings towards a recession, the demand for Oil will see a further fall. Japan wants to restart their nuclear plants, the world is looking for ways to ween off Gas and Oil. Germany & Canada signs a deal to produce green H2.
Looks like the long term headwinds for Oil will stay. In the short term, the indecision is caused by fears of a recession vs the impact of the Jackson Hole annual meetup and its impact on the dollar.
In the short term Oil may head to 95, but in the mid term, it will continue its drive down to 80 and below.
XTIUSD....BUY (7.10%)after a long sell on oil, XTI formed a double bottom between 5th and 17th August.....finally i'm expecting a bull run on XTIISD...int0 $96 per barrel!!!
There's a possibility for a price rejection at $94.2
NB: red box: rejection zone
blue box: breakout zone
A 2023 prediction all of this will be disqualified if 18.2k breaks, im sure it wont.
this month will end summer and with summer comes pain so this could be the last month of the bears
good luck
WTIOil in a bit of trouble here, likely entering a 6-10 month bear market correction. Downside target can hit the 618% of the entire 5 moves off the 2020 lows when WTI went negative.
Currently a lower time frame A wave has bounced off the 618% fib retracement level of the 5th wave. But we must correct that entire 5 up not just the 5th wave. We should bounce into a B wave soon on the daily
before making the larger C wave down close to $80. After that The HTF weekly A wave is complete and bounce again into HTF weekly B wave before finally nuking to $50 wave C to complete the entire move. You better BTFD IMHO guys because after this is done oil prices likely to run back turbo over $130.
USOIL is evaporatingOil has to fall if the global fight against inflation needs results.
Inflation Reduction Act of 2022 gives us fresh ammo to short the oil.
Watch for the downward supports:
Support 1 - 85.5
Support 2 - 77
oil is going to ready to jump oil is ready to complete terminal as c in last lag of flat in d lag of big triangle
buy opportunity in 80-83 dollar for 140 dollar at least
OIL LONG OIL just retested the bullish order block after breaking structure last week and should be ready to test the bearish weekly order block before more downside.
good rr here its hard not to take this trade.
Crude Oil forecast - Why we will fallIf you look at the picture we can see zone of interest that was acting as support. However buyer wasn't strong enough to hold the price and we broke down.
Right now many people got trapped with local trendline and squeezing to the zone. They opened longs but it's likely that was just a retest. I expect continuation of fall with first target at 90$ unless black swan comes into play.
Bullish scenario would be squeezing to the zone and accumulation for 1-2 days. Then we will have a chance to break through it and hold strongly on top.
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
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P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
2X USOIL 4HR Tech. Analysis!We are playing levels along with News with OIL, stay patient and sit on your Hands! if price retrace to test the breakout of the upward channel, then we are selling to @85.00 area! If price creates a double bottom, we are buying up to @122.50 area!
OILShould we prepare ourselves for new important news? Is a new war coming? What will happen to this vital energy (for this period of time) that the oil price chart shows its price increasing?
