WTI (OIL) in WAR hello dear trader
wti ready dor next move and there are 2 number on this chart
wti can test PRZ ( fibou extention 1.618 + strong resistance) on 102 near 103
stop loss need for any position
goood luck
Oiltrading
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
Crude oil is poised to gain momentum
Political tensions roiled global financial markets as the focus shifted to the Middle East. Oil prices have fluctuated sharply amid escalating risks, with worries that a war between Israel and Palestine could lead to supply disruptions easing, but market sentiment has been relatively cautious and investors have still refrained from aggressive selling as they watch further developments ahead.
CBA energy analyst Vivek Dhar said that the disclosure of evidence of Iran's involvement will push up oil prices, and the conflict between Israel and Palestine increases the risk of crude oil prices rising to $100/barrel and above.
Crude oil prices are bullish. The first target is 89, the second target is 93.
BACK TO 82!!!!!If we encounter a gap that needs to be filled, we opted for a 1:4 trade, indicating the necessity to address this gap. This decision was prompted by our deviation from the established sideways trend and supported by several technical confirmations that guided us to follow and stay informed.
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.
Crude oil ushered in a new opportunity for growth
The latest exclusive report from the US "Wall Street Journal" claims that Saudi Arabia has told the White House that they are willing to increase oil production early next year if crude oil prices remain high.
A new round of military conflict broke out between Israel and Palestine last weekend, causing international oil prices to soar more than 4% after opening. This week, it gapped higher and opened higher, breaking the weak pattern and regaining its position above the middle track. It is currently undergoing a rebound correction, and the space is slightly larger. In the short term, there is a high probability that oil prices will stabilize and then recover from the sharp drop during the holidays. Pay attention to the next changes in geopolitical factors and pay attention to the rhythm.
During the day, focus on the first-line support of 84.4 at the bottom and the first-line resistance of 87.24 at the top. Above 84.4 is bullish, the target is 87.3-88.4. Below 84.4 is bearish, the target is 82.8-81.6.
The RSI technical indicator is moving upward.
WTI CRUDE OIL: Sell right at the top.WTI Crude Oil has completed the short term bounce we warned you of last week and the technical outlook remains neutral on the 1D timeframe (RSI = 52.922, MACD = -38.990, ADX = 32.850). The 4H timeframe is close to a Death Cross, the first one since May 3rd and that can form the LH at the top of a Channel Down. Our target remains the 1W MA50-1D MA50-S1 level (TP = 78.50). We will not consider buying before a MACD Bullish Cross on the 1D timeframe.
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OIL: where are you going to?This is my preferred count for OIL as the most recent downmove was so violent that it seems to be the beginning of a new trend.
Looking for continuation lower into a three wave move to compose higher degree wave Y.
As always questions and comments are more than welcome,
if you enjoy the content please leave a like and as always,
Trade Safe!
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
The Price of Black Gold: A Poetic Analysis
-- The Relative Strength Index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset.
-- The Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.
-- The MACD for Brent Oil is currently above the signal line and in positive territory. This suggests that the uptrend in Brent Oil remains intact.
-- Potential Direction for Brent Oil
Based on the Elliott Wave, RSI, MACD, and other technical tactics, the potential direction for Brent Oil on the weekly timeframe is bullish.
Brent Oil is likely to continue its uptrend, with the next target being the 100 USD level. However, if Brent Oil breaks below the 80 USD level, it would suggest that the uptrend is at risk.
-- Factors That Could Affect the Analysis
There are a number of factors that could affect the analysis of Brent Oil, including:
Global economic growth: A strong global economy will lead to increased demand for oil, which would support prices.
Geopolitical tensions: Geopolitical tensions in the Middle East and other oil-producing regions could lead to supply disruptions, which would boost prices.
US monetary policy: The US Federal Reserve is raising interest rates in an effort to combat inflation. This could lead to a slowdown in the global economy and a decline in oil demand, which would weigh on prices.
Overall, the technical outlook for Brent Oil is bullish on the weekly timeframe. However, investors should be aware of the factors that could affect the analysis and should adjust their positions accordingly.
-- Additional Notes
It is important to note that no technical analysis is perfect, and the price of Brent Oil could move in a way that is not anticipated by the analysis above.
Investors should always do their own research and consult with a financial advisor before making any investment decisions.
WTI | CRUDE OIL - Trading OpportunitiesWTI is the focus for this week. Watch the video to understand how, from a higher time frame, like the Weekly chart, we can find tradeable opportunities on the hourly chart.
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.
WTI CRUDE OIL Important bearish breakout. Short the spike.WTI Crude Oil crossed under the 1D MA50 (and the Channel Up) for the first time since July 6th turning the 1D technical outlook bearish (RSI = 35.225, MACD = -0.060, ADX = 34.325). The short term timeframes are oversold so expect a minor spike to the 1D MA50 or near the 4H MA50. We will use that as our new sell entry and target the strong support zone consisting of the S1 level, the 1W MA50 and 1D MA200 (TP = 78.50).
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WTI to test 84.10$ todayWTI oil is green today and going to test 84.10$ level. We should wait price movements after testing this level.
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
Crude oil LONG First try I will make a new analysis because you have the whole downward movement described in detail step by step.
Now we looking for long. First try there, if we go done eyes are fixed on 80$. WHY?
100, 200, VAH last range. Below that I am not bullish anymore because we should not go back to the old range.
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 (CL) Aggro/Oversold Fade BUYQuick take/analysis, but consider scooping some low-risk crude contracts here (break above 84.84). Better demand zones are lower, but we've had a sizable downdraft into buy areas + are testing a key support/resistance area (~84-85), so those traders may be at our backs. The US dollar has finally taken a pause at the supply zone we ID’d in posts from earlier this week/last week, so that may help commodity, including CL, longs. Keep this one a tight leash; the bounce we’ve had thus far has been tepid, a micro timeframe higher high/higher low hasn’t yet been put in , and daily/weekly “demand” is lower still (low-80s/upper-70s). That said, CL is certainly a trade to put on your radar. Given the technical structure of the recent selloff, consider taking any profits at 1:1, then 86, 87, and 88+. Again, better buys are lower, but start paying attention/stalking longs as remaining profit margin for short sellers is a lot smaller than it was at the beginning of the week (though there is still some downside risk)!
Happy trading!
Jon @ LionHart Trading
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
