Oilshort!
OIL speculative A-B-C short setup- if you follow this setup, do not overleverage
- do not use more than 1% of your balance
simple and effective:
-speculative setup
-short at point B between R1-M Pivot and 88.2 fibonacci
-target between S2-M Pivot, 1.809 and 2 trend based fib
-TP +15% gains
-RR 8.58
-updates will follow
-like so you don't miss anything
-follow me for more
good luck
not a trading recommendation or a investment advice
just my own opinion
CL1 Short to 0.618 fibIRAQ IS SEEKING HIGHER OPEC+ PRODUCTION BASELINE: DELEGATE
UAE ENERGY MINISTRY SAYS NO AGREEMENT HAS BEEN REACHED YET WITH OPEC+ ON SUPPLY DEAL, DELIBERATIONS CONTINUE
With the OPEC agreement in a state of deliberation, and compliance a real question, the market is needing to price in some bearish risk potential. Especially given the recent extension that we've had. I believe that there is a real market deficit still, but this bearish risk is also very real.
I would be comfortable entering a short CL1 position until around $70, and reassessing before flipping long.
Of course, any significant news can change this view... all eyes on are OPEC
USO: TurmOIL!🪔🪔🪔The discussions at the tables at the OPEC+ conference do not end, and it shows. We expect the course to drop for quite a bit now. In total, the correction should end somewhere between $41.29 and $39.27, before new bullish runs set in. Once that happens, prices above $59.35 will be targeted.
Let’s go Bears!
AMEX:DRIP long Just an idea for possible long positions on AMEX:DRIP for a long-term swing. There's room for more downside, possibly to the next leg of support, as I've added by the pitchfork trendline entries.
As we've not seen an actual bottom yet, it's all speculation at this point, but oil (for vehicles and shipping) is slowly being pushed to the margins; and with an increased chokehold on crude and the tax hikes across the states in the US that use it the most for commercial and consumer applications, a shift towards alternatives would help propel a bearish sentiment.
This of course is just my speculation, I have made an entry, and plan on another if it doesn't hold. Any questions, feel free to ask.
Also, possible inverse H&S forming on the Daily chart.
CRUDE OIL DAILY TIME FRAME IDEACRUDE OIL POSSIBLY CREATING DOUBLE TOP PATTERN OR TRIPPLE TOP PATTERN ( NEED NECKLINE CONFIRMATION ).
Crude oil suffers first weekly loss in May on Iran nuclear deal, weak demand; experts see sideways momentum
Prices could witness some additional correction next week on demand outlook in Asia and a possible increase in output from Iran.
$USOIL - Bearish setupI'd suggest a bearish view, the price is currently trading at dynamic resistance level, we still have a demand zone that price hasn't visited yet. Technical indicators are bearish on weekly, so going short could offer a good reward at low risk.
Ifter that will aim for longer term target at $73
NYMEX LIGHT CRUDE FUTURE MAY FALL IN APRILThe chart give you all details of ELLIOT wave count for NYMEX light sweet crude futures.
I noticed that his commodity recovered in 'V' shape from ABYSS(3rd of3of wave5) and erased all its losses to $60
But this recovery has one more test for final wave C5v, I assume that this will finish nextmonth (april)for 0.618 times of c5i at $46
comments are welcome
Still opening short 64> 1w shortOil has been in profit for about a year at all overnight intervals, and it is time for investors to make a profit. Clearly, oil prices will fall in the coming days and will continue to decline again in the safe haven area. The recent occurrence of the Suez Canal also increases surplus production as oil ships arrive a week later, while other ships are moving a short distance from them, and the arrival of the two together has led to a large market share and Oil prices are falling! temporarily . So be a little smart
TRADE UPDATE TAKE PROFIT REACHED, OIL XTIUSD USOIL XTIOur first take profit target is hit!
We have now closed half the position and will look for continuation of trend.
I will update analysis when we have more information available.
If you like this idea or traded it with me please like and follow for more ideas.
ORIGINAL TRADE IDEA BELOW
Wti Oil First TP HitHello and welcome back traders🙂.
Wti Oil has been following my analysis and has hit the first TP.
Meaning I can now bring my second position to breakeven and let the market play its course.
Good luck trader's and may this week be profitable for you all. 🙂
If you found value in my analysis dont forget to hit the like, it's much appreciated.