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Oilprice

How LOW can Oil Go?Oil Price still in bullish trend even after retracing from HH2 price of Top of approximately 130 to current 90. Sign of bullish trend -Line C having stronger uptrend momentum/strength than line B -Line C surpass above Fib Extension of 1.272 Line B -Candlestick above MA200 -Staying above MA(Price approx 63) will still can consider as bullish trend Some sign of bearish -Candlestick falling below ichimoku cloud(not bearish confirmation yet) -lagging Span fall below Candlestick A closer look on the retracement: test of downtrend strength within line C
TVC:USOILLong
by Inquiring_H
USOIL Short: Shooting Star at 4hr Resistance LevelTrend: The overall trend of the chart is downwards. Candle Sticks: Formation of shooting start at the LH of the chart. Support & Resistance: Price is testing the 4he resistance area by making an LH with a shooting star. Reasoning: The formation of a shooting star at the LH of the 4hr resistance area strongly indicate the price will go down. SL: Place at the previous LH of the chart. TP1, TP2, TP3: Placed according to the Fibonacci retracement levels.
TVC:USOILShort
by sanasaeed
5
Gasoline Bearish Formation"Gasoline... breakfast of champions" - Joe Dirt Consistent with our view of #Oil, gasoline shows us a beautiful bear wedge. Are we all just expected to pay $4.50+ / gal of gasoline? This seems like a tall ask for the American consumer, considering prices are significantly elevated across most of the American ( & global ) economy. Emerging markets getting beat up all around the globe Commodities have started to selloff Interest rates are rising USD ripping higher crypto bubble... popping...? Let's see how it goes! God bless!
NYMEX:RB1!Short
by ChiefMacro
India tricks the West, Strong dollar & China imports russian oilOil top might be in for this year. Reasons: 1. Market adjustment mechanisms are underway on the commodity markets, ensuring that Russian oil, which is spurned by the West, once again finds its buyers (india, china). This in turn causes these countries to demand less Brent or WTI oil, which again depresses prices. India and China are buying significantly more crude oil from Russia, Europe less, which means there is a balancing out taking place on the world markets with the new tanker routes and transportation routes. 2. India recently bought more oil from Russia than ever before, according to a recent report by the Finnish Energy and Clean Air Research Center. "A significant portion of the crude is re-exported as refined oil products, including to the U.S. and Europe, an important loophole to close," the Finnish analysts warned. Since new sanctions measures are very unlikely, the alignment process between Russian oil and Brent and WTI crudes is likely to continue. 3. Dollar price, interest hikes & recession fears by FED. The strong dollar is also acting as an additional burden on the oil market. This is because commodities such as oil are traded in dollars. If you read between the lines of the FED, they're doing their best to crush commodity and oil prices to crush long-speculators on comm and oil. 4. Fear of new lockdowns in China. Chinese head of state Xi Jinping nevertheless only recently announced that he would stick to the strict zero-covid strategy. This is fueling fears of new lockdowns in China = downside risk for oil demand in China, probably a small impact, since the gov in China is trying its best to avoid a greater corona outbreak in large cities to stabilise eco. situation. 5. bitcoin/tradional markets are sometimes seen as counterparts to oil. Bitcoin, despite very bad news (CPI increased) and being a risk asset, has not moved much further down in price, showing that risky assets have more or less found their bottom while oil bulls have an empty tank. Opinion: I see the price cooling down slowly rather than continuing to climb, probably going towards 70-60$ in the next 6-10 months. ! This is not an investment advise! Do your own research! This is NOT a recommendation to buy or sell oil shares and this is NOT a recommendation to short or to long oil!
FX:UKOILShort
by Lobotto
Oil Futures Settle Lower On Demand WorriesDespite concerns about a potential recession, oil prices were still around $114 a barrel today as supply concerns outweighed concerns about a potential decline in demand. In the latest developments, workers in Norway went on strike, which is expected to cut the country's oil production by around 130,000 barrels a day. Despite the global economic recovery, oil prices are still up more than 50% this year as the conflict in Ukraine and the lack of supply from other producers such as Russia have raised concerns about the supply of oil. OPEC+ has also been struggling to boost its production due to various factors. In addition, the Federal Reserve's aggressive monetary policy has also triggered a sell-off in commodities. Investors are also closely monitoring the situation in China, where the country is still experiencing sporadic outbreaks of the virus.
TVC:UKOIL
by bbitar
WTICOUSD (RESISTANCE ZONE)Hey guys! How are you guys doing! O hope from the previous analysis, the daily fake out from DAILY timeframe got you guys a confirmation and brought toward more downside. What I'm seeing now is that it shall go back and test 110.70 zone and probably bring more downside to 105, 103 and possibly to 95 range. However, shall it break the resistance zone with a strong candle, it will be bring us to a greater height. As oil is a very volatile commodity and can easily go up/down a few dollars so do trade with minimal risk and not overtrade! let me know how you guys think!
OANDA:WTICOUSD
by shiyishiyi
Crude oil analysis points to bullish turnaround Crude oil experienced a significant drop in price over the past two weeks. This week, however, it appears the energy commodity is bouncing back to the bullish side. The fall in the price of oil since May was triggered by the fear of a recession, in the US in particular, and numerous central banks’ moving against inflation with rate hikes, leading to slowing economic growth. This, however, has been mitigated by the fact that the global economy is now facing a lack of supply on the energy front. As global demand closes in on pre-pandemic levels there are indications of further support in demand for fuel. Supply concerns have cropped up as a result of Saudi Arabia and the UAE running at near oil production capacity and the political unrest occurring in both Ecuador and Libya. Given that these countries are some of the few that could fill the void left by the Russian sanctions, any hint of disruption may play a role in supporting or surging oil prices. On the other hand, US President Joe Biden last week called on Congress to suspend the Federal gasoline tax for 3 months. President Biden, in calling for gas tax holiday, further stated he wants merchants to pass on the entire reduction to consumers and the industry to refine more crude oil into gasoline to increase supply. On the technical side of Crude oil, after the conclusion of the OPEC meeting, we might see an increase in volatility in oil prices. On the daily chart, we can see a clear uptrend as the price bounces around its trend channel. Price made a rebound at around 104.0 on the lower trendline creating a bullish structure. As the price heads towards a minor resistance of 114.70, a break above this area could potentially send price towards 120.20 and possibly retest 124.9 before bouncing back around the upper channel for a possible price correction respecting the current trend indicator. One could also notice a bullish hidden divergence on the RSI as it creates a lower low while the candle stick chart creates a higher low on the daily time frame signaling for a potential turn to the upside. Any shift in fundamental factors, however, might negate this bullish indicator.
BLACKBULL:WTI
by BlackBull_Markets
Caps on russian oil is likely to come Insider: G-7 talks with India and China on oil price brake positive G-7 talks with India and China on a plan to cap the price of Russian oil have been positive, according to an insider. The two buyer nations have incentives to comply, a person familiar with the discussions says. A cap on the price has not yet been set, he said. However, it would have to be high enough for Russia to continue producing anyway. Currently, Russian oil sells at discounts of between $30 and $40 per barrel (159 liters) compared to market prices of up to $120 per barrel. Source: Welt Zeitung What impact would the price cap have on prices in Germany and the other G7 countries? In the ideal case, oil prices would fall; in the less good case, at least they would not rise any further. However, precise forecasts are difficult to make. The petroleum industry association Fuels und Energie already explained in the discussion about the EU oil embargo that market and price developments depend on many factors, including the dollar exchange rate and decisions by the major producing countries. Source: n-tv Opinion: I see the price cooling down slowly rather than continuing to climb, probably going towards 70$ in the next 6-10 months. To force russia to sell all its oil below market price, will make most countries of the world (which are not part of G7) to buy it off for a small price, leading to an overall relaxation of the oil market price. Also OPEC is ramping up efforts to increase output for the next months! This is not an investment advise! Do your own research! This is NOT a recommendation to buy or sell oil shares and this is NOT a recommendation to short or to long oil!
TVC:UKOILShort
by Lobotto
1