Get started

Oilforecast

USOIl. Long. Bull pennant Oil looks good for a buy after the hour candle spike in volume to confirm the bull pennant. Candle closed pretty much above the support box just 5 min moving averages are lagging a bit. RSI is looking strong and stochastic is still nicely oversold on the hourly so plenty of room to breathe upwards. First take profits at the break of the bull pennant. Could hold some to see if we get a further move upwards. Stop at the low of the hourly candle.
TVC:USOILLong
by breakoutfakeout
USOIL Short Trade Setup Update! Distribution Zone!Welcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work. Just follow the video for the update on short trade setup! Analysis: USOIL showed up some continued growth up to the resistance level held at $27 to $28 price level. Now the price showing up some retest after the breakout on strong ascending channel which where it completed 5 impulses within the structure. Now Ill be waiting for a possible bearish signals on top for new short entries. Sketch up your own trade setup before you take off. Good Luck! Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILShort
by Profitlio_Trading
BRENT OIL two possible scenariosBRENT OIL two possible scenarios price is overall bearish making lower lows and lower highs. Moreover, Oil is trading inside our blue channel (not objective yet) First Scenario: ------------------ on H4: waiting for an objective break above our upper blue trendline to buy. Second Scenario: --------------------- meanwhile, price is still overall bearish and sitting around our upper blue trendline (which acts as minor resistance) so we will be looking for objective trend-following sell setups on lower timeframes on M30: price formed an objective trendline in red, a double top pattern in gray, and we also have divergence on MACD so three confluences are enough to consider sell Oil after a momentum candle close below our gray neckline.
O
by TheSignalyst
3
scoWhat's up guys, just want to share my strategy with my followers. I am currently long ALGO (crypto) & XRP waiting only this weekend b4 I close off all open positions. I closed my SDOW not because I don't think it will continue to rise as I feel strongly that the DJIA is pretty fucked. But because I want to short WTI crude. I plan (if this works out) to close off algo & xrp in profits, then take my profits transfer those profits to fidelity and put a buy order in around $32 on the $SCO. Now if you seen my DXY chart u will see that the dollar index has little room to drop B4 it resumes the final parabolic dollar blow off top. I'm not sure if this will be 100% due to the fact that WTI crude storage is just about full and there's nowhere to store or if this will be a combination of COVID-19 issues plus the black swan I am suggesting that will strike oil markets. Either way dollar demand = risk off & no oil storage + relentless shale pumping = neg contango prices going forward. So my big bet will be to short Crude via SCO. I linked a bunch of my work for you guys to reference. Don't forget to follow me on twitter link in my bio. good luck everyone & I think the markets will be in big trouble sometime June 2020. (DXY chart linked below)
AMEX:SCOLong
by Big_Mike716
2
SHORT SWING FOR THE MARKET BULLSThe new month isn't exactly off a great start so far for risk trades. After the historic April 20th on the oil price for the first time closing at $0.01 per barrel, price action has been able to recover some grounds, as it couldn't go deeper in the charts, of course, price action register a recover of 244K% as the new high on May 6th touching $27.95 per barrel. The market remains under bearish pressure as production cuts won't ease or improve the impact on the demand sector as long as the trending COVID-19 "plandemic" is still capturing the spotlights, as quarantine, lockdowns and social distance policies remain, the most prominent world economies contraction is unavoidable. In the following weeks, expect economic releases to show worse conditions in the global economy, representing the height of downturn for most majors economies, no assuming much good news during this time, let us move on into the technical charts for the oil market. Reading the charts; after seven days' rally, the price action had reached the previous strong resistance level in confluence with Fibonacci level 0.5 stopping the rally as a clear technical correction. Price action has formed a triple top in this level; with stochastic in an overbought area, we could expect a downturn correction before the market can recover some strength and break the $27 handle. With a MACD in a bullish bias and the 200SMA still slopping down and overextended, we should consider entering the market only with additional confirmations from the technical side as the market remains under intense pressure from a global glut. With 27 million bpd removed from the market in April and the COVID-19 cases report rising, oil demand remains jeopardized. However, as it is widely known, the market is always benevolent to those smart investors and traders who take patience, usually in a sit-and-wait mode, before placing position. So, let's keep smart and sharp, as is expected in the short-term horizon, a solid hurdle around the $28 handle. Let us enjoy and recharge batteries in this weekend ahead and hopefully see you all next Friday.
FX_IDC:USDWTI
by OGFXTRADER
Weird Market, but It's true uptrend.Hello dear friends, The market watch oil prices is weird, the market price is moving against the news. I get remember that a plane flying against the wind, so it can fly. All right that's it.. Back to the market price, the oil price is fighting back upwards in last week and this week. It already gain more than 35%.. I'm expected this week will soar another 28-39% . The oil price must get higher, so the country economy will get easy with it. Many countries is depend on the oil economy, so my expected is cash flow cycles is happening in the oil trade.
NYMEX:CL1!Long
by SL-Trades
USOUSD OIL BULLISH TO 24.68 to 32.88| 5th May 2020"How Malaysian people can predict the oil price accurately? This is the long lost technique which I learn from my father. Japanese people expert at rice price Malaysian people expert at oil price. We are an oil producer since generation. Alas, not many Malaysian people know it.." -Zezu Zaza Oil Webinar on 28th April 2020 8 years ago, when I started the journey seriously in being trader (your job is to buy and sell price), my dad asked me if I want to learn an ancient technique. A technique which not people know because not all people being in the oil industry at that times. Well I said, 'Yes of course I want to learn the secret..' I said like being skeptical on how he really can know the secret of oil price traded. I mean for a second I was like dont very pay attention about what he told me. That times I was like 24 years old. Very novice, juvenile and smell like nothing in my head. Now I am 32 years old. Old enough to experience the trading like 12 years experiences just only to watch the price daily for 12 years. Market price is my netflix. 'Well son, I learn from your grandpa. He taught me something that people like us need to know but our races won't appreciate it because they don't know how important really is.' My father sipped warm coffee. That time felt like peace with breeze air from outside of our village. (Back then poor people don't venture into the oil price trade) Since we are a family which trade the price, we must know all the technique. How to trade oil, how to trade gold, how to trade wheat. And all of this traded instrument were totally different on how to trade it. But younger generation nowadays hit everything on its path. They think they know everything and trade the same. Old people from our time is really good than people in your time. All your gadget, indicator makes you stupid. Things that comes easy, human wont strive for the success to dig the knowledge. They prefer the indicator to tells things while indicator is a lagging coding after price and momentum makes its turn. I hear his mumbling bla bla bla and bla like 1 hour. At one point, what he said is true. I cant denied. Then he off his tobacco cigarette and sipped the coffee. He show me something which I truly remember until now. He draw a chart in one piece of paper... Then I saw something huge. Something that people need to know. The secret is so huge to hide. I was amazed with the prediction. The price is like a battleground of a chess. I stood hard to digest on every single details he told me... To be continue.. Regards, Zezu Zaza 2048
TVC:USOILLong
by Zezu_Zaza
5
The Roller Coaster is really getting Excited OIL.. Some of 30% BIG trader are not in the trades now. They changing instrument of trades now, the reasons still unknown. That's rumors from other traders. Back to the market watch, the trend is really pushing hard to force the resistance. I don't really understand why.. but I do understand oil is one of big sources of economy. Since that lots of the countries are trying to reopen, some activity will seen. My forecast trade for today, the market trying to pushing higher up to 18.18 region.
TVC:USOILLong
by SL-Trades
2