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Oilforecast

USOIL Crude oil : Russian oil ban, what's next? 4.5The pennant consolidation opened the week with a breakout and a retest confirmation of the breakout. Consolidation took place between Jan - April 2022, With a high of ~128 and a low of ~88. The breakout is a major bullish technical alert, indicating new daily up-trend. Resistance levels on the new up-trend are: *106.80 - 108.50 *114.60 - 116.40 *125 - 127.80 Retest potential to the downside: *Consolidation retest - 100-101.50 *Consolidation support floor - 96.50-98.20 A break below consolidation may lead to trend reversal, but for now bullish indications on full alert! Russian oil sanctions are increasing and we have 1 million barrels a day off circulation as of now, this amount is expected to double soon, Bernard Looney, CEO of BP oil company says. This is a fundamental trigger for the technical breakout. ----------------------------------------------------------------------------------------------------------------- Thank you so much for reading! If you found my idea useful please like and follow - It would truly mean a lot to me. I promise to respond to any and all questions/comments, so don't hesitate! Always be careful trading and make your own research, best of luck. -----------------------------------------------------------------------------------------------------------------
TVC:USOILLong
by Exactus
2
WTI Crude Oil: Bubble burst on the go? Or rocket to space? 25.4Let's be practical. There's 2 ways this can go. (refer back to my 19.4 update about the slip we see in the last few days) 1) Triangle consolidation since the peak of 128 back in March is with a 102.90 resistance level. A breakout above with a daily candle close confirms up-trend breakout and 105, 108, 115 would be immediate possible targets. 2) A breakout below cluster level of supports between 94-96 will be confirmed with a close below 93-94 with a daily candle. This would be high probability bubble burst similar to what we've witnessed back in 2008, 2014 and 2018 with massive $50+ declines. Immediate possible targets would be 88, 84 and 75. Fundamentally speaking, Chinese lockdown as well as India possibly also announcing restrictions soon provides bearish support together with possibility of reserve release from multiple directions (USA, China, SHELL, Aramco, OPEC, etc...). For the bullish fundamentals we have war escalating (already going for 3 month, most probable impact is priced in) and inflation (During 2008 inflation did not help oil keep above 3 figures for more than days). On a personal note - I believe there's higher probability for a breakout down considering above points. I encourage you to do your own research before trading this idea or in general :) ------------------------------------------------------------------------------------------------------------------------ If you found my idea helpful, please like and follow - It would mean the world to me :D I'm open for any question in private or as a comment , don't hesitate to contact me! My goal is to reach out and help as many traders as I can :) ------------------------------------------------------------------------------------------------------------------------
BLACKBULL:WTIShort
by Exactus
6
$HUSA entry PT 3-3.70 Next Target PT 35 and higherHouston American Energy Corp., an independent energy company, acquires, explores for, develops, and produces natural gas, crude oil, and condensate. Its oil and gas properties are located primarily in the Texas Permian Basin, the onshore Texas and Louisiana Gulf Coast region, and in the South American country of Colombia. As of December 31, 2020, the company owned interests in four gross wells. Houston American Energy Corp. was incorporated in 2001 and is based in Houston, Texas.
AMEX:HUSALong
by BADQOMOCAWGOWLD
1
MEDIUM TERM WTI CRUDE OIL ANALYSISHEY ZEYAN HERE Hello, zeyan. I was previously fairly bullish on oil, but as I can see now, oil prices will be settling back to below 100, with 82.50 being the next best probable position. this is an idea a plan in a uncertain chaotic environment out of multiple plans to be certain IF anything happens that changes the fundamentals of this idea, i will update. please note that this is not financial advice. do your own research and use this information as conformational biase on top of your own analysis. like for support!!!!
TVC:USOILShort
by zeyankhan1318
$USEG Next Target PTs 13-18 and higherU.S. Energy Corp., an independent energy company, focuses on the acquisition, exploration, and development of oil and natural gas properties in the continental United States. It holds interests in various oil and gas properties in the Williston Basin in North Dakota; the Permian Basin in New Mexico; and Texas. As of December 31, 2021, the company had an estimated proved reserves of 1,344,626 barrel of oil equivalent; oil and natural gas leases covered 89,846 gross acres and 5,757 net acres; and 146 gross producing wells. U.S. Energy Corp. was incorporated in 1966 and is based in Houston, Texas.
NASDAQ:USEGLong
by BADQOMOCAWGOWLD
1
Long-term oil analysis #oilsome notes: 1_In World War II, because the United States won the war, it said that my dollar should be the reference currency 2_The United States did not fulfill its contract and did not store gold against the dollar 3_European countries realized and wanted to buy gold under the same law for every $ 35 an ounce of gold 4_Meanwhile, Arab countries imposed sanctions on Europe and oil prices rose 5_Now European countries needed dollars to buy oil 6_If oil prices are low, it is very dangerous for the United States because negative inflation in the United States will form and stagnate. Because the United States runs its country with debt, it's the best inflationary position 7- America wants a lot of production so that the industries will stop working and there will be an increase
NYMEX:CL1!Short
by daylichart
$MARPS Next Target PTs 32-45 and higherMarine Petroleum Trust, together with its subsidiary, Marine Petroleum Corporation, operates as a royalty trust in the United States. As of June 30, 2021, the company had an overriding royalty interest in 55 oil and natural gas leases covering approximately 199,868 gross acres located in the Central and Western areas of the Gulf of Mexico off the coasts of Louisiana and Texas. Marine Petroleum Trust was incorporated in 1956 and is based in Dallas, Texas.
NASDAQ:MARPSLong
by BADQOMOCAWGOWLD
1
$HUSA Next Target PTs 16-35 and higher Long term PT 150 and highHouston American Energy Corp., an independent energy company, acquires, explores for, develops, and produces natural gas, crude oil, and condensate. Its oil and gas properties are located primarily in the Texas Permian Basin, the onshore Texas and Louisiana Gulf Coast region, and in the South American country of Colombia. As of December 31, 2020, the company owned interests in four gross wells. Houston American Energy Corp. was incorporated in 2001 and is based in Houston, Texas.
AMEX:HUSALong
by BADQOMOCAWGOWLD
$IMPP Next Target PTs 9-18 and higherImperial Petroleum Inc. provides international seaborne transportation services to oil producers, refineries, and commodities traders. It carries refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals; and crude oils. As of March 29, 2022, the company owned four medium range refined petroleum product tankers and one Aframax crude oil tanker with a total capacity of 305,804 deadweight tons. The company was incorporated in 2021 and is based in Athens, Greece.
NASDAQ:IMPPLong
by BADQOMOCAWGOWLD
2