Higher prices on gasoline? oil and gold technical analysisAre we going to have higher oil prices? lets see what the charts are telling us , and also technical analysis for the price of gold.
Oilprice
WTICOUSD Daily Bullish BlockSo the indicator created, which is in Beta, essentially detects trading blocks that act as areas of buying or selling with considerable amounts of accumulated volume .
Daily Bullish Block looks to be in play heading into next week. Suffice to say I will confirm the completion of block on Monday and trade accordingly.
Oil update Oil stopped pulling near monthly support area 92.67$
Yesterday i sold 92.37 $ what to expect this month
Will dollar effect yesterday was huge and un expectable.
I think bull back to 90-89 is more than normal .
Next session in Monday ill take profit
In my opinion we can go to 100 if we break th 93 area further if we break 84 we will go to 73 area
GOOD LUCK
Oil update I sold today in red line (92.3-89.7 -90 )
Price is 91.2 (aproximetly in middle ) i can close if i need
But but , the target is 85 now
Lets see hoe its play
GOOD LUCK
A BRIEF PULL BACK B4 THE NEXT MASSIVE BULLISHOil has been recently on up trend with all the Hh's but currently a pull back is eminent, its a retest that will usher in the next bullish momentum taking the PRICE to $93 and above price target
Oil update Yesterday we sell and bought oil in good profit i believe 3$
Now i closed my position in buying and ill sell to 87.5$ where i will buy again
I will sell the red line and buy the purple line when we het the target in selling
False candle - bearish day
GOOD LUCK
Oil update Yesterday was no movement just volatility
I believe today down side movement
My target is 86 still like before
I dont care about inventory , i think the FED was aggressive yesterday and will effect the market
GOOD LUCK
WHAT AFTER THE DOUBLE DIP and OPEC? This graph is a representation of my point of you of the futures market (USD).
Oil update We sold yesterday and reached our target
No its blow up again , to area where ill sell
My target below 86 $
Now oil is absolutely different than the rest commodity
That way the medium term target cant be predictable
(Always take profit alone the way )
80$ is the last of correction wave
GOOD LUCK
Oil update I think the red line is a good for sell
Blue lines to take profit
We done buying successfully
GOOD LUCK
Oil update Oil is going up to our target
Yesterday was trying to manipulate us , which is normal in trading
Ill be taking profit at blue line then ill be a seller maybe ill update
GOOD LUCK
Oil update Continuation in buying for me is great opportunity here
Upside movement today may start with European market open
I think no more down from here
(Not financial advise)
GOOD LUCK
Oil update (daily trade) Oil is a good buy to me at this level
In red lines ill take my profit
Its showing som strength
GOOD LUCK
Oil weekly update Oil is still forming head and shoulders pattern
Expecting an down movement on FED Meeting on Monday
How the movement can be ?
In my view , looking to test 89 -90 is still possible so ill be a buyer in opening
But after it hit a 89$ ill take profit
For all week i think down side to 86-85 is possible
GOOD LUCK
Oil update Boring day , day no movement , i think now 87 area down
Then we go to 89 area maybe not today if the momentum keep the same .
GOOD LUCK
13000+ PIPS DROP (BAD NEWS FOR OIL OPEC MEMBER STATES)The price of crude is pose to shock oil producing countries despite the recent supply cut to the global market,
PRICE is currently stalling at $84 per barrel (minor zone) ,a break of this zone which is eminent will see the drop in price to $70 per barrel of crude
GOLD SETTING UP FOR A DROP OF ABOUT 8000+Gold has been on overall fall and seems to continue as a touch at the .618 & .50 FIB region will trigger the sells momentum and most importantly rewarding SWING TRADERS with over 8000 Pips of the next couple of trading days depending on the volatility in the market + other fundamentals to trigger this technical play out.bring the price to $1620 per Ounce.
PATIENCE IS NEEDED TO ALLOW THE CONFIRMATION OF THE PLAY OUT!
Oil view Oil is still have to go up on daily
I mentioned in morning a selling trade just to be clear it can fail to success but indicators shows weakness and going down can be healthy
Bear on mind , it can go to 89 area , if its faild then down side will be massive
That why iam focusing in selling now .
HEAD AND SHOULDER PATTERN WILL PRINT SOON
GOOD LUCK
Oil update If you wish to talk a profit that will be good now
Further more we are not in sell area again
I think 86 $ will be reachable today
Again my come down a little its a buying opportunity
GOOD LUCK 1.5 $ profit is not bad in 45 min !
Oil view (can it comes true ) Will first wave up was amazing today we toke it all
Can it retrace tomorrow and go to next target
I cant wait for tomorrow it will be amazing
Lets see
By the way ( i dont do any trade at that time for deferent reasons one of them that the market is just not doing big moves which is some how wasting of time )
GOOD LUCK , ill update you tomorrow
6$ profit GOODJOBToday we sell and buy to make 6$ profit how amazing it was .
Now as i said yesterday 86-87 is reasonable target
Now dont even think to sell
You can take profit but dont sell our trend now may be reverse
For me i thin 86 is good target today
GOOD LUCK
Long WTI & Short Brent as price differential tightens?Oil Brent continues to trade at a premium of more than $8 per barrel to WTI oil , with the price difference between the two oil benchmarks increasing significantly and well above its historical average this year.
One of the primary drivers of the widening Brent/WTI price spread has been a significant increase in the availability of North American crude, which has created more downward price pressure on the WTI market.
The US government has injected180 million barrels of crude into the market through scheduled Strategic Petroleum Reserve (SPR) releases as of October 18, 2022, to help resolve the market supply disruption created by Russia's full-scale invasion of Ukraine and to help cut energy costs.
U.S. SPR releases are now complete, and crude oil reserves in the United States are at their lowest point since 1983, according to the latest estimates from EIA.
The possibility that the Democrats would suffer a loss in the midterm elections in two weeks might rule out the possibility of more SPR releases being made at a later stage.
In this scenario, the forces that pushed the price of WTI below that of Brent would diminish significantly. As a result, the price spread between the two oil benchmarks may return to tighter levels. Going long on WTI and short on Brent is one way to reflect the idea of closing this oil price gap.
Throughout 2021, the difference between WTI and Brent was on average about -$2/bbl and ranged from -$4.5/bbl to parity levels.
A mean reversion to the period prior to US SPR releases would suggest an increase from current prices of about $6.5/bbl. If, on the other side, the spread widens again and breaks through the -$10/bbl threshold, the strategy will be proven incorrect.
Great profit on oilNow we sell this morning and close on black line
Again we will sell in red line and take profit first in black line again then on 83$
GOOD LUCK FRIENDS
