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OIL dropped 1% as Fed call this draws uncertaintityI wanted to bring to your attention some recent developments in the oil and financial markets. Specifically, there are concerns about the impact of upcoming signals on the U.S. economy and monetary policy. This week, we expect U.S. consumer inflation data to be released on Tuesday, which will likely factor into the Federal Reserve's decision on interest rates on Wednesday. While the Fed is expected to keep rates steady, there is still some uncertainty because U.S. inflation is trending above the central bank's target range. As a result, markets are remaining cautious about any potential hawkish moves. Additionally, the dollar has firmed in Asian trade, putting pressure on oil markets by making crude more expensive for international buyers. I thought bringing these developments to your attention was essential, as they could impact this week's oil price. Please let me know if you have any questions or concerns via the comments.
TVC:USOILLong
by bryandowningqln
WTI Light Sweet Crude Oil, 6/12/23A two-sided framework continues through summer between 62.14 long-term support, and 82.45 long-term resistance, both regions able to contain seasonal activity.   Downside, a weekly settlement below 62.14 indicates 53.87 within several months, longer term Fibonacci support able to contain selling into later year.   Upside, a weekly settlement above 82.45 indicates 94.67 within several months, able to contain buying on an annual basis. - For Monday, 72.16 can contain buying into later week, below which 68.52 remains a 3 - 5 day target able to contain selling over the same time horizon.   A daily settlement below 68.52 indicates 62.14 over the next 2 - 3 weeks, where the market can bottom out through summer activity.   Upside Monday, closing above 72.16 indicates 77.56 within 3 - 5 days, able to contain weekly buying pressures when tested and the point to settle above for then indicating 81.44 long-term resistance within 2 - 3 more weeks.
NYMEX:CL1!
by SpecialeAnalysis
OPEC+ could push up oil price as China is most important According to the International Energy Agency (IEA), OPEC+ may push up oil prices, but China remains the most essential factor in the market. As we all know, China is the world's largest oil importer, and any changes in their demand can significantly impact global prices. With their economy recovering and demand increasing, now is the perfect time to invest in oil. The IEA also predicts that global oil demand will continue to rise in the coming years, further supporting the case for investing in this market. As traders, we can take advantage of this trend and potentially see significant investment returns. Therefore, I encourage you to consider investing in oil and taking advantage of this exciting opportunity.
TVC:USOILLong
by bryandowningqln
Oil Higher from here?On Sunday OPEC+ announced: The 3.6mil bpd production cuts, will extend into 2024. Saudi's will cut an additional 1mil bpd from July 2023. The #oil #price opened higher on Sunday evening futures open. It now looks like we have an inverse head & shoulders on the price of oil, taking the price into the mid and upper $70s. This may pave the way for oil being in the $80s sonner than later. This will place pressure on the Fed as it will lead to even more inflation. Headwinds however is still the lomming recession in US, EU as well as the weaker Chinese markets.
NYMEX:CL1!
by chsmit
Will USDCAD Breakout with Western Texas Oil on the Rise?Are you ready for some oil talk? Because I've got some juicy information for you that might make your day. Rumor has it that Western Texas oil is about to rise, which could mean big things for the USDCAD. You see, the Canadian dollar is heavily tied to the oil price, and if it goes up, we might see a breakout in the USD CAD. So, what does that mean for you? It means that you might want to consider loading up on oil and potentially making some sweet, sweet profits. Now, I know what you're thinking. "But wait, isn't oil a volatile market? Isn't it risky?" And to that, I say, "Of course it is! But what's life without a little risk, am I right?" So, if you're feeling adventurous and want to capitalize on the rise of Western Texas oil, I encourage you to load up and get ready for the ride. Who knows, you might just come out on top. Happy trading!
Long
by bryandowningqln
After the oil is completed to fill the gap,can we go long on oilBecause of the impact of the banking crisis and the U.S. debt ceiling issue, the risk that the economy may fall into recession has been exacerbated, and U.S. data show that consumer confidence is insufficient, which is a very big blow to the demand for crude oil, causing crude oil to plummet in the short term and completely make up for the technical gap. Can crude oil be bought with confidence? In fact, according to the structure of crude oil, crude oil fell sharply and fell below the flag finishing structure, which laid the foundation for the short trend of crude oil, and there is currently no signal to stop the decline completely, so there is room for crude oil to go further down. However, from the point of view of the short-term structure, crude oil fell below the flag-shaped finishing structure for the first time, and completely filled the technical gap in one fell swoop. In the case of a short-term plunge in crude oil, there is a need for technical upward repair.And there is 50% support for Fibonacci below the short-term line, so for the first time in this position, you can try to long crude oil in the short-term. In trading today, the trading signals I announced on the channel for shorting gold around 1999-2000 and 2006 all reached the take-profit target of 1995. The trading signals in the last two weeks have achieved a comprehensive victory, and the result of 0 losses is enough for us to reap satisfactory profits.In trading, whether it is gold or crude oil, I have the ability to satisfy your desire to make money. I have announced detailed trading signals about crude oil in the channel. Please pay attention to the trading signals in the channel.
TVC:USOILShort
by Short-term-king
Brent Crude Oil Swing TradeThe price of Brent Crude Oil has fallen and tested the previous support level (Blue Line) outlined in the previous newsletter. Currently, we could see a potential swing back upwards. If the price breaks the support level, we could see a fall in price. However, I see the former as the more likely scenario, as the 0.5 Fibonacci level (Green Line) is also below the trendline - providing further support. This support is further backed by the Stochastic RSI and MACD indicator coming to show potential buy signals. To see why I chose these support and Resistance Levels see my linked idea below.
OANDA:BCOUSDLong
by BlackbearTrader
Weekly Price Projection for Brent Crude Oil W/C 17th April 2023Price Range Projection: Weekly High: ~ $86.58 Weekly Low: ~ $82.818 In the chart above, you can see the price on the 3-hour timescale, along with a fixed range volume profile. Weekly High Projection The fixed range volume profile (the horizontal histogram) is an indicator that can be used to show resistance and support levels. The red horizontal line in the close-up chart above indicates the point of control, which is the price level that had the most volume. As you can see, the price stalled around this point. This is where I see the weekly high. Weekly Low Projection I have placed the weekly low at a previous support level, which was formed from a chart pattern that had a breakout more than a month ago. This is shown with the two blue trendlines.
OANDA:BCOUSD
by BlackbearTrader
Oil is about to experience an uptrend Oil experienced a sharp decline again today, and the EIA data was also unfavorable to oil. Currently, the oil price is close to the support level of 65-63. If this area is breached, the oil price will face the risk of falling to around $50. As far as the current market situation is concerned, I think this probability is not high. Although we cannot completely rule out this risk, from a technical perspective, if the oil price continues to decline, it will become oversold, and there will be a short-term rebound demand. Therefore, in the trading process, I lean towards going long at lower levels. If you have enough margin for oil, you can start a small long position now, and take profit at above 70 upon rebound. Follow me and you'll get more interesting investment information! Plus, I'll share real-time trading strategies during trading hours, including stocks, gold , crude oil , forex, cryptocurrencies, and more!
TVC:USOILLong
by EagleEyeStrategy
1
Oil is Ranging. So Where Will it break? Oil has been in a range towards the end of last year and price is fighting against pushing below the 75 lvl and staying below it. It makes sense as the news is mixed because there are positive and negative news for Oil. Check out the following: Positives for Oil: -China economy recovering and demand increasing -Russia plans to cut Oil exports by 25% and cut oil production by 500,000 barrels -EU ban on Russian Oil -OPEC maintaining production cuts -JP Morgan looking at $90 a barrel for Oil in the middle of the year Negatives for Oil: -to the FED increasing rates for the next three meetings -a possible global recession as majority of the G7 nations increase rates So, what will win out? The negatives or the positives. I am thinking Oil will be able to push higher in the short term (next few months) and eventually fall as interest rates push higher and higher. If inflation does not drop as fast the FED wants, it will need to crank up the the heat on inflation, by doing it through interest rates. In 2025, I think Oil is going to push back up to $100, maybe higher and if this does happen, it would be good if I am still in the GBP/CAD as price would likely be around 1.45. On a side note, there is a big push to renewable energies and electric vehicles, but this requires a lot of resources to produce on a massive scales and in the interim Oil will be needed. If this massive push does happen, in the beginning, Oil will increase exponentially until renewables take over. In the next couple years, lets see if I am correct: -price by the end of the year $80 -price in the beginning of 2024 (first 6 months) $70 - $80 and end of 2024 (last 6 months) $95 -price in 2025 $100+ (I keep thinking production is going to go off the rails with what's going to come out and the new technology)
NYMEX:CL1!Long
by DollarSaenz
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