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Oillong

Crude Trend analysisDue to a supply scarcity, rising gas and coal prices are gradually driving utilities to convert from gas and coal to fuel oil. Oil-fired power stations have started up in Sweden. Oil demand will be boosted further by the United States' announcement that the travel ban for fully immunized international visitors would be abolished in November. This could result in a big recovery in jet fuel consumption by the end of the year. "US oil producers are battling to regain output, "The Mars and Ursa platforms in the Gulf of Mexico will be shut down until the end of2021, according to Royal Dutch Shell. According to Bloomberg projections, this would cut supplies by about 300,000 barrels."
TVC:USOILLong
by meelbijendra
Crude Oil (CRUD) UpdatesQuick update on crud oil (the investment is on the "CRUD" ETC as you well know). No fundamental news from OPEC, so let's analyze the chart, because we have reached an important point. After the retracement practically lasted from 6 to 20 July, the price with a classic "V shape" is returning to the 5.80 area. I highlighted a similar situation in the past when in May, after some profit-taking, there was a double top in the € 5 zone. It is not certain but it is highly probable that such a situation will repeat itself when the price touches the previously mentioned level. As far as I am concerned, I have already said that I consider the level of 8 € the real target, but obviously, we are talking about a raw material, very linked to what is happening in the world, in a moment of recovery, but recently threatened by the Delta variant. of the virus. A very uncertain picture and the markets generally don't like uncertainty. We must constantly follow the news and check that the price does not fall below the level of 5. 05 that I recently traced. In fact, this could mean a trend reversal and for many who may have an entry price close to that level (possible since it was a breaking point of an important resistance). a risk of a possible loss. But by far, August 1st, the price has returned to the uptrend channel clearly visible on the chart, which I have drawn. This we know. In an ideal scenario, there should be a strong break with a daily candle closing above 5.80. If accompanied by volumes it would be a clear signal of continuation of the trend. In the event of a retracement, for those who have been investing for a long time, the most interesting levels to add positions are 4.577 (green line on the chart) and the SMA 200 moving average. I remember that we are talking about a commodity, so the scenarios could change radically at a fundamental level, so if you were long, follow the economic calendar, the trend of the dollar, and the seasonality very carefully. however importance. Lazy Bull
MIL:CRUDLong
by LazyBull5
Technical analysis update: USOIL (27th July 2021)WTI oil continues to trade around 72 USD per barrel. Recently OPEC deal cleared out uncertainty about future supply boosts in the oil market. Despite initial selloff as reaction to the announcement of a deal we view this agreement among OPEC as bullish developement for medium and long term price of oil. Rising vaccination rates are leading to higher mobility in the U.S. and Europe. Higher mobility and less lockdowns subsequently hint to higher demand for oil in the near future. Earlier this year OPEC announced that it expects oil demand to rise by 6 million bpd this year. In addition to that IEA announced that it expects oil demand to rise by 5.4 million bpd this year and by another 3.1 million bpd next year. Though, pre-pandemic levels of demand (approximately at 100.6 million bpd) are expected to be reached by end of 2022. This points to the fact that oil market recovery is still in the progress and has plenty of room to continue. RSI and MACD are flattening out and becoming neutral. Stochastics is bullish. ADX contains low value suggesting weak or no trend. Our medium term price target is 77.50 USD per barrel and our long term price target for oil is 80 USD per barrel. Developements from 20th July 2021: Here we stated that price was very attractive for taking entry on long side of the market (price traded at 66.57 USD at time of publication). Then price rebounded back above 70 USD per barrel and continued further above 72 USD per barrel. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
2
Technical analysis update: WTI oil (16th July 2021)WTI oil continues to experience selling pressure due to the stalemate within OPEC deal . However, anonymous sources hinted that some form of agreement has been struck between Saudi Arabia and UAE. If true, this would be bullish developement for price of oil. Before the selloff started we stated that selling would cease around 70 USD per barrel. Then price found its support at 70.79 USD and reversed back to the upside. Currently price fluctuates between 70 USD and 77 USD. MACD, RSI and Stochastics are all bearish. However, RSI shows first signs of flattening. Despite bearish technicals we remain bullish. We expect OPEC to reach agreement and view this as catalyst for move up. Our medium term price target remains 77.50 USD and our long term price target remains 80 USD per barrel. Thoughts from 5th July 2021: Here we warned investors about overbought condition in WTI oil. We also stated that odds of correction are increasingly growing. More thoughts from 1st June 2021: Here we predicted move above resistance and reached our price target of 70 USD. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
Long Vision on OIL for 19/07/2021Hello Dear Traders, You find below my analysis for OIL, which is near the buy zone. I expect the price to rise. According to my set of rules, in the H4 frame the price of OIL will rise to 72 . Our Weekly Goal is 73.3. So we are looking for a pullback to repeat what we have marked up and executed over the last few days, demand is still there. Simply looking to buy the dips effectively, the bullish trend still here since April 2020. Currently, OIL is moving towards the support level of 69.5 where there is some liquidity, from this value we are looking for short-term buying opportunities of OIL. Good Luck and enjoy your Bullish Market for today. Entry:@69.8 TP1: @70.5 TP2: @71 TP3: @72 SL : @69 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
TVC:USOILLong
by HugoAJROUCHE
Long Vision on OILHello Dear Traders, As we analyze Friday, the oil price is rushing upwards strongly to breach 73.30 level and is trying to stabilize above it, which requires attention from the upcoming trading, as confirming the breach will stop the bearish corrective scenario and lead the price to restore the main bullish trend again. Therefore, we prefer staying aside until the price confirms its position relative to the level of 73.30, then we will look for buying opportunities as the rebound was strong and the recent selloff could be over. KR
TVC:USOILLong
by HugoAJROUCHE
Technical analysis update: USOIL (5th July 2021)USOIL keeps rising. Technicals are reaching overbought zone and this could potentionally lead to shortlived correction. Despite increasing odds of correction we remain bullish. We actually think that if correction would to occur it could present itself with attractive entries for long side of the trade. Our new medium price target for USOIL to 77.50 USD per barrel. Our long term price target is 80 USD per barrel. Here are prior thoughts from 22nd June 2021: Here we did set price target of 75 USD which was reached few days later. More thoughts from 9th June 2021: Here we did set price target of 72.50 USD per barrel. Target was reached few days later. More prior developements from 1st June 2021: Here we did set price target of 70 USD per barrel. This target was reached few days later. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
2