Oil PutsLooks like black gold is headed south after completing bearish pennant. First demand zone isnt likely to hold the price and will probably drop it to the next demand zone.
Let me know what you think.
Oilprice
WTI Crude Oil midday updateThe oil price has shown weak trading since the morning, stable around 90.70, and therefore, there is no change in the expected bullish trend scenario for today, which depends on stability above the 88.70 level, while its next targets are at 92.00 then 95.35.
Pivot Price:88.70
Resistance Price: 90.70 & 92.00 & 93.37
support price: 87.71 & 86.40 & 84.58
The general trend expected for today: bullish
Why hasn’t crude oil skyrocketed?
There has been a lot of fundamental news in crude oil trading recently, with hospitals and schools in Gaza being bombed, and Iran calling for an oil embargo.
Why haven’t oil prices exploded? Three major factors indicate that oil prices are in a storm!
1. OPEC+ has no plans to hold a special meeting and take immediate action. Judging from OPEC+'s recent statements, it expects global oil demand to remain optimistic in the second half of the year (Saudi Aramco CEO predicts that global oil demand will reach 1,030 barrels per day in the second half of this year), and the oil market situation is balanced and reasonable. In addition, if there is a sustained oil supply shortage in the market, OPEC+ may even increase production in 2024. The oil market currently has 3 million barrels per day of spare production capacity.
2. The Venezuelan government and the opposition reached an agreement on the presidential election. On Wednesday (October 18), the U.S. Treasury Department issued a suspension order authorizing transactions with the Venezuelan oil and gas sector, which is valid for 6 months. Venezuela's crude oil exports exceeded 800,000 barrels per day in September, the second-highest monthly export rate since the beginning of the year, and its oil exports are expected to rise further. However, due to Venezuela’s backward infrastructure, the short-term impact on the oil supply side is expected to be limited.
3. U.S. bond yields hit multi-year highs. U.S. retail sales in September announced on Tuesday (October 17) were stronger than expected, showing that consumer enthusiasm is still high. JPMorgan Chase raised its third-quarter U.S. real GDP growth forecast from 3.5 % was revised up to 4.3%. The market is betting that the Fed's interest rate cut will be further postponed to the third quarter of next year. The 10-year U.S. bond yield exceeded 4.9% intraday on Wednesday (October 18), reaching a maximum of 4.934, just one step away from the 5% level.
To sum up, the author believes that oil prices are already in a "storm". Although oil prices are in a "dilemma" in the short term, when more oil supply and demand factors are involved, this often means that a new round of unilateral market may be about to occur.
It is foreseeable that if the situation in Gaza worsens further, it will further unite Arab countries. In addition, once Iran joins the conflict, the possibility of Iran blocking the Strait of Hormuz cannot be ruled out, which may cause oil prices to hit the resistance above $100. On the contrary, if the situation in Gaza cools down, oil prices may give up the gains made in the past two weeks.
In addition, Federal Reserve Chairman Jerome Powell will deliver his last speech before the "silence period" in the early morning of Friday (October 20). As U.S. Treasury bond yields continue to surge and financial conditions tighten, it is expected that Powell will be more likely to release "dovish" remarks, which may be beneficial to short-term market sentiment.
Emergencies based on conflicts in the Middle East may appear at any time, and crude oil is more likely to rise again in the short term. For short-term operations, enter quickly and exit quickly, and don’t be greedy for profit expansion.
Short-term operation suggestions:
OIL buy:86.5 -87 tp150pips sl 86
Since the crude oil prices in the delivery accounts are different, we need to buy within a reasonable range based on our own crude oil prices.
Traders who need help in trading can join me, maybe you will find a good trading helper
OIL SELLPeace be upon you, according to my analysis of the oil market. There is a very good selling opportunity. The market has reached an important point, which is the 61% Fibonacci retracement of the golden ratio. It also reached a very strong resistance level at 89. We also notice the formation of a red candle with a tail on the 2-hour frame, indicating a strong entry by sellers. All these factors confirm that the market is for sale. Good luck everyone
Oil price is recoveringOil price trades rebounded strongly after finding strong support formed by the 50 moving average in front of the recent negative trading, to exceed the 88.79 level and attempt to return to the main ascending channel again, which leads the price to achieve expected gains during the coming sessions, on its way to visit the 90.39 and then 91.56 levels. As major positive stations.
Therefore, the upward bias will be likely for today, influenced by the double bottom pattern that appears on the chart, keeping in mind that trading below 88.79 again will put the price under negative pressure targeting testing the 88.79level initially.
Bulls profit, market slowly rises
The Israeli-Palestinian conflict supported gains in oil prices, but mail will slowly rise until there is no further conflict. Crude oil was blocked at the 21-day moving average. Secondly, the International Energy Agency (IEA) said last week that oil prices have fallen recently from their highs in late September, reflecting declining demand, especially in the United States. These market conditions have restrained the sharp rise in crude oil.
However, conflicts in the Middle East will lead to a shortage in the crude oil market, which is also the biggest reason for the rise in crude oil.
The overall bullish target for crude oil is whether it can break through the 89 and 91 resistance levels
The Unexpected Rise: How Potential USA Sanctions Drive Oil PriceAs I'm sure you are aware, recent developments have led to a rise in oil prices by a staggering $2. The main contributing factors to this increase are the potential imposition of sanctions by the USA and a significant tightening in global supply. This optimistic trend presents a golden opportunity for those looking to make a successful long play in the oil market!
Now, this is where your expertise comes into play, dear traders. With all the indicators pointing towards a promising future for oil, I encourage you to consider long positions in your investment strategy. By taking advantage of this upward momentum, you have the chance to capitalize on potentially lucrative gains. So, without further ado, I urge you to kick-start your trading journey, ride the wave of rising prices, and seize this golden opportunity before it passes you by.
Will oil prices break through 100?
"A sharp escalation in geopolitical risks in the Middle East, which accounts for more than a third of global seaborne oil trade, is keeping markets on edge," the IEA said in its closely watched October oil market report.
All this is as discussed in my previous post. The conflict caused the oil price to rise again. The continuation of the conflict will cause the oil price to break above 95 or even reach 100.
However, we need to note that Canadian oil production will grow by about 10% in 2024, and the U.S.'s higher-than-expected inventories and rising interest rate expectations will hinder the rebound in oil prices.
Combined with the overall market conditions and considering that the Middle East is a major crude oil trading region, oil prices are generally bullish.
Profiting from Oil Price Drops
Recent events have led to a significant drop in oil prices, primarily due to the phenomenon known as "demand destruction." I believe this presents an opportune moment for traders like yourself to consider shorting oil and potentially reap substantial gains.
Considering the conservative nature of your trading approach, shorting oil could be a prudent strategy to capitalize on this situation. By short selling oil, you can aim to profit from the further decline in oil prices. This approach aligns with a conservative trading philosophy, as it allows you to take advantage of the current market conditions while minimizing potential risks.
To maximize your potential gains, I recommend conducting thorough research and analysis before executing any trades. Keep a close eye on global economic indicators, such as GDP growth forecasts, industrial production figures, and travel restrictions. Additionally, monitor geopolitical developments, as they often have a direct impact on oil prices. By staying informed and vigilant, you can make well-informed decisions that align with your trading strategy.
I understand that shorting oil may not be suitable for everyone, and each trader has their own risk tolerance and investment goals. However, I believe that the present circumstances present a compelling opportunity for those who are willing to take a calculated risk.
In conclusion, the recent oil price drops resulting from demand destruction offer a promising chance to profit from shorting oil. As a conservative trader, this strategy allows you to capitalize on the current market conditions while adhering to your risk management principles. Remember to conduct thorough research, stay informed, and make well-informed decisions aligned with your trading strategy.
Should you have any questions or require further assistance, please do not hesitate to comment below. Wishing you success in your trading endeavors
Trading advisory: Pause trading due to oil price target of 87.16I wanted to provide you with the latest update regarding the oil market and its recent volatility that demands immediate attention. After careful analysis, our experts have projected a significant revision in the oil price target, with the new estimated threshold being $87.16 per barrel.
Given the sudden change in the market, I strongly urge you to exercise caution and consider adopting a temporary pause on oil trading activities until further notice. This move will allow for a more prudent approach in dealing with the uncertainties surrounding the current market conditions.
Our decision to recommend this temporary halt is rooted in the desire to mitigate potential risks that may arise due to the oil price's downward trajectory. By taking a pause in oil trading, you can protect your investments and reassess your strategy in light of the evolving market dynamics. Remember, it is crucial to prioritize the long-term stability and profitability of your investments over short-term gains.
In summary, I strongly advise you to pause your oil trading activities and analyze the market situation closely before making any new decisions. Your diligence and careful consideration at this critical juncture will go a long way in safeguarding your investments and optimizing your future trading success.
Thank you for your prompt attention to this matter. We appreciate your understanding and willingness to adapt to the evolving market conditions. Together, we can weather this storm and emerge stronger.
Oil Spikes 5% Following Hamas Attack in Israel Following a recent attack by Hamas in Israel, oil prices have surged by 5%, and it is crucial for us to closely monitor this situation.
The attack in Israel has heightened geopolitical tensions in the region, which historically have directly influenced oil prices. As traders, it is essential for us to exercise caution and remain vigilant during times of increased volatility. The recent spike in oil prices serves as a stark reminder of the potential risks and opportunities that can arise in the energy markets.
Given the current circumstances, I strongly encourage you to closely watch the oil market and closely monitor any further developments in the region. It is essential to stay informed and be prepared to act swiftly if necessary. As we have seen in the past, geopolitical events can have a lasting impact on oil prices, and it is crucial to be proactive in managing our positions.
In light of this situation, I suggest the following actions:
1. Stay informed: Keep yourself updated on the latest news and developments in the Middle East, particularly regarding the Israel-Hamas conflict. Reliable news sources and market analysis can provide valuable insights into potential market movements.
2. Monitor oil prices: Regularly track the price of oil and observe any significant fluctuations. Pay attention to key support and resistance levels, as they can help inform your trading decisions.
3. Diversify your portfolio: Consider diversifying your trading portfolio to mitigate potential risks associated with geopolitical events. A well-diversified portfolio can help protect against unexpected market movements.
4. Implement risk management strategies: Review and reassess your risk management strategies to ensure they are robust and aligned with your trading goals. Set appropriate stop-loss orders and consider using trailing stops to protect your positions.
Remember, caution is key during times of heightened volatility. While the situation may evolve rapidly, it is essential to approach trading with a level-headed mindset and avoid making impulsive decisions based on emotions.
Oil price starts with a large upward gap
USOIL
stabilizing above 84.58 ill support rising to touch 86.74,87.67 and 88.54
stabilizing under 84.58 will support falling to touch 83.26 the 82.00
Pivot Price: 84.58
Resistance prices: 86.74& 87.67 & 88.54
Support prices: 83.26 & 82.00 & 80.56
timeframe: 4H
Oil Experiences Worst Declining Week Since March Last week, oil prices suffered a significant decline, marking the worst week since March. This alarming development demands immediate attention, and I strongly urge you to consider taking advantage of this unprecedented opportunity to short oil.
The oil industry, which has been grappling with numerous challenges throughout this year, is now facing a new wave of uncertainty. The recent decline in oil prices has sent shockwaves through the market, raising concerns about the stability and future prospects of this crucial commodity. As traders, it is our responsibility to stay ahead of the curve and capitalize on these fluctuations.
By shorting oil, we can potentially profit from the ongoing downtrend and mitigate the risks associated with the volatile nature of this market. This strategy allows us to sell oil contracts at current prices, with the intention of repurchasing them at a lower price in the future. However, timing is of the essence, as the window of opportunity may be limited.
It is important to acknowledge that the current decline in oil prices is not without its reasons. Factors such as weakening global demand, oversupply concerns, and geopolitical tensions have contributed to this downward spiral. The ongoing COVID-19 pandemic, geopolitical conflicts, and the transition towards renewable energy sources further compound the challenges faced by the oil industry.
Considering the gravity of the situation, it is crucial that we act swiftly. I encourage you to conduct thorough research, analyze market trends, and consult with your trusted advisors to determine the best course of action. While shorting oil presents an opportunity, it is essential to weigh the risks and rewards based on your individual risk appetite and trading strategy.
To seize this opportunity, I recommend closely monitoring the oil market, staying updated on the latest news, and utilizing technical analysis tools to identify potential entry and exit points. Additionally, it is prudent to set clear profit targets and implement risk management measures to protect your investments.
Remember, as traders, we are constantly navigating through uncertain waters, seeking opportunities amidst volatility. The current decline in oil prices presents a unique chance to capitalize on the market's downward momentum. However, I urge you to exercise caution, conduct thorough research, and make informed decisions.
Please feel free to comment below if you have any questions or require further assistance. Let us seize this moment and make the most of this unprecedented opportunity to short oil.
Oil 4H midday updateThe price of oil has been fluctuating sideways since the morning
Therefore, there is no change to the expected bearish trend scenario for today,
which targets breaking the 82.00 level to confirm the extension of the bearish wave towards the 80.56 then 78.21 levels
stabilizing above 83.26 will support rising to touch 84.55 , 86.08 then 87.67
Pivot Price: 82.00
Resistance prices: 84.55 & 86.08 & 87.67
Support prices: 80.55 & 78.21 & 74.52
The general trend expected for today: bearish
timeframe: 4H
Impact of Fed's Interest Rate Hikes on Gas and OilOn October 4, 2023, the OPEC+ ministerial panel did not make any changes to the group's oil production policy after Russia and Saudi Arabia announced continued voluntary supply cuts to support the price of black gold.
However, Brent and WTI crude futures have fallen more than 13% over the past week on concerns that central banks could raise interest rates again to more aggressively fight inflation. In addition, rising unemployment and the slower pace of China's economic recovery are also putting further pressure on oil prices.
On the other hand, the US and European Union economies remain strong despite numerous problems, including high inflation and geopolitical tensions due to the military conflict between Russia and Ukraine. Thanks to stronger-than-expected consumer spending, global economic growth continued into the third quarter of 2023.
From the point of view of technical analysis, we believe that on September 28, the global wave (3) was completed, which, as it should be, was the longest and strongest wave, which is also reflected in the fact that this asset attracted the attention of the mass public. On October 5, 2023, wave A was completed, which belongs to a larger corrective pattern of the (4) wave, implying a continuation of the downward movement of the Brent crude oil price after reaching a strong resistance zone in the $89-$90 range. By the end of the fourth quarter of 2023, we expect the price to reach $77-$78.
In addition, global oil prices are under pressure, partly because gas storage facilities in Europe are full.
It should be noted that oil prices and the US Dollar index (DXY) are often inversely correlated, meaning that when the DXY rises, oil prices usually fall and vice versa. So, in recent weeks, the dollar has been strengthening, making oil more expensive for countries using other currencies, which reduces demand for it and, as a result, oil prices.
Oil 4H continue to achieve negative targetsOil
The price suffered more damage yesterday
stabilizing above 87.08 will support rising to touch 87.67 , 88.54 then 90.39
stabilizing under 87.08will support falling to touch 83.26 and then 81.94
Pivot Price: 87.08
Resistance prices: 87.67 & 88.54 & 90.39
Support prices: 83.26 & 81.94 & 80.55
timeframe: 4H
Oil price is trying to recover
The price perfectly fulfills my last idea and the price reached our target.
Additionally Today we have US crude oil stocks and it will affect the market.
WTI Crude Oil has been correcting, more aggressively than most thought after a High outside of the Channel Up.
Therefore, we expect to witness negative trading during the coming sessions, with the need to be aware that failure to break 88.54 will push the price to achieve additional gains of up to 90.39 initially.
stabilizing above 88.54 will support rising to touch 90.39 , 91.04 then 92.45
stabilizing under 87.67 will support falling to touch 86.08 and then 85.31
I prefer not to trade at this moment until today to know what the OPEC Plus will do.
Resistance prices: 90.39 & 91.04 & 92.45
Support prices: 86.08 & 85.31 & 84.35
The expected trading range for today is between support 87.67 and Resistance 91.04
Potential Oil Decline Amidst Tight Supply and Fed Rate HikeRecent market dynamics, characterized by a tight supply scenario and growing speculations of a Federal Reserve rate hike, have raised concerns about the future trajectory of oil prices.
1. Tight Supply Scenario
2. Speculations of a Federal Reserve Rate Hike
Given these circumstances, it is crucial to approach oil trading with caution. The combination of a tight supply scenario and the possibility of a Federal Reserve rate hike creates an environment of heightened volatility and increased risks. Therefore, we strongly recommend pausing oil trading activities until further clarity emerges.
At this juncture, it is essential to reassess your investment strategy and consider the potential impacts of these factors on your portfolio. We encourage you to consult with your financial advisor or reach out to our dedicated team of experts who are available to provide you with tailored guidance and support.
In conclusion, we believe it is prudent to exercise caution and refrain from making any hasty decisions regarding oil trading. The current market conditions, characterized by tight supply and speculations of a Federal Reserve rate hike, warrant a careful approach to mitigate potential risks.
CFDs on WTI Crude Oil 4H Hello Traders
WTI is continuing with major pullbacks off the upper resistance cluster level increasing the bearish momentum.
WTI is likely to finalize the whole ascending wedge with the main breakout below the boundary.
USOIL just retested the low of last week and started to rise from there without any stop.
stabilizing above 87.67 will support rising to touch 89.46, 90.39 then 90.98
stabilizing under 87.67 will support falling to touch 86.08 and then 45.59
Pivot Price: 87.67
Resistance prices: 89.46 & 90.39 & 90.98
Support prices: 86.08 & 84.59 & 83.69
timeframe: 4H
BP Prudhoe Bay Royalty TrustAbout BP Prudhoe Bay Royalty Trust
ISIN
US0556301077
Sector
Miscellaneous
Industry
Investment Trusts/Mutual Funds
Headquarters
Houston
BP Prudhoe Bay Royalty Trust engages in owning and administering the royalty interest. The company was founded on February 28, 1989 and is headquartered in Houston, TX.
========================
BP Prudhoe Bay Royalty Trust dividends overview
BPT dividends are paid quarterly. The last dividend per share was 0.30 USD. As of today, Dividend Yield (TTM)% is 45.72%.
Ride the Bullish Wave in Oil Trading with OPEC + Supply Cuts!As an oil trader, you'll be thrilled to know that the economic conditions remain bullish, thanks to the continued OPEC + supply cut.
The oil market has been experiencing a remarkable rebound, primarily driven by the collective efforts of OPEC + countries to stabilize prices. With the ongoing supply cut agreement, we have witnessed a gradual reduction in global oil inventories, leading to a more balanced market. This positive trend has undoubtedly instilled confidence in the market, and we believe it is an opportune time to capitalize on this bullish sentiment.
Now, you might be wondering, "How can I make the most of this bullish wave?" Well, fear not! I'm here to guide you towards the path of success. Here's a call-to-action that encourages you to long oil and seize the potential profits:
1. Stay Informed: Keep a close eye on the latest news and updates regarding OPEC + decisions, global oil demand, and geopolitical factors. Being well-informed will help you make informed trading decisions and stay ahead of the curve.
2. Analyze Market Trends: Utilize technical and fundamental analysis to identify key trends, support, and resistance levels in the oil market. By understanding the market dynamics, you can make more accurate predictions and execute well-timed trades.
3. Diversify Your Portfolio: Consider allocating a portion of your trading capital to oil-related assets, such as oil futures, ETFs, or energy stocks. Diversification can help mitigate risks and maximize potential returns.
4. Set Realistic Targets: Establish clear profit targets and stop-loss levels to manage your trades effectively. Remember, a disciplined approach to trading is crucial for long-term success.
5. Leverage Technology: Take advantage of advanced trading platforms and tools that offer real-time data, market analysis, and customizable indicators. These resources can provide valuable insights and enhance your trading strategies.
By following these steps, you'll be well-positioned to ride the bullish wave in the oil market and potentially reap substantial rewards. Remember, maintaining a positive outlook and embracing opportunities is key to achieving your trading goals.
So, dear traders, let's embark on this exciting journey together and make the most of the optimistic oil market conditions. Stay bullish, stay positive, and let's make some profitable trades!
Oil Prices Continue to Rise - Take Advantage and Long Now!Brace yourselves because Russia's push towards $100 per barrel is causing a wave of optimism that we simply cannot ignore!
The energy landscape has been buzzing with anticipation, and the recent surge in oil prices is a clear indicator of the incredible opportunities that lie ahead. With Russia's bold move, we are witnessing a significant shift in the market dynamics, and this is where you can make a smart move by long oil.
Why should you consider long oil at this moment? Let me break it down for you:
1. Russia's push: Russia's determination to drive oil prices up to $100 per barrel is a game-changer. Their actions are sending shockwaves throughout the industry, creating a perfect storm for traders to capitalize on this upward trend.
2. Global demand: As the world recovers from the pandemic-induced economic slowdown, the demand for oil is rebounding rapidly. With economies reopening, travel resuming, and industries ramping up production, the demand for oil is set to skyrocket, further fueling the price surge.
3. Limited supply: Despite efforts to diversify energy sources, oil remains the lifeblood of our modern world. The supply of oil cannot keep up with the ever-increasing demand, leading to a supply-demand imbalance that favors higher prices. This is an opportunity we cannot afford to miss!
Now, you might be wondering how you can take advantage of this incredible opportunity. Here's your call-to-action:
Act now and consider opening long positions in oil to maximize your potential gains. With the market sentiment favoring an upward trajectory, it's time to ride the wave and make the most of this exciting period. Whether you prefer futures contracts, ETFs, or other oil-related investment instruments, ensure you position yourself for success.
Remember, timing is crucial in the world of trading, and this moment is ripe with potential. Seize the opportunity and make your move before it's too late!
Get ready to embark on an exhilarating journey as oil prices continue to soar. Buckle up, traders, because the time to long oil is now!
Wishing you profitable trades and an exciting journey ahead!
www.bnnbloomberg.ca
UsOil (OIL) -> Most Talked About AssetMy name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks , crypto , options and indices 🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on UsOil.
Looking at the chart of UsOil you can see that just four months ago Oil perfectly retested and already rejected the 0.618 fib level in confluence with previous support structure.
The real next resistance is once again the previous swing high at $110 from which we already saw a major bearish rejection and this means that we have another +20% move on Oil.
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I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.
Keep the long term vision🫡
