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Oiltrading

Brent Crude Oil Swing TradeThe price of Brent Crude Oil has fallen and tested the previous support level (Blue Line) outlined in the previous newsletter. Currently, we could see a potential swing back upwards. If the price breaks the support level, we could see a fall in price. However, I see the former as the more likely scenario, as the 0.5 Fibonacci level (Green Line) is also below the trendline - providing further support. This support is further backed by the Stochastic RSI and MACD indicator coming to show potential buy signals. To see why I chose these support and Resistance Levels see my linked idea below.
OANDA:BCOUSDLong
by BlackbearTrader
Oil prices are falling | Trade idea Worries about a potential increase in US Fed interest rates, which could slow economic growth and reduce energy consumption, outweighed strong economic data from China and a decline in US fuel stocks, causing the asset to move negatively. A report published yesterday by the American Petroleum Institute (API) recorded a reduction of 2.675M barrels, more than the projected decrease of 2.464M barrels. Today, investors expect similar statistics from the Energy Information Administration of the US Department of Energy (EIA): according to forecasts, oil reserves may be corrected by –1.088M barrels, providing support to the prices.
TVC:USOILLong
by DynamicCapital-FX
WTI CRUDE OIL: Forming a Head and ShouldersWTI Crude Oil is in the process of forming the Right Shoulder part of the Head and Shoulders pattern on a neutral 4H technical outlook (RSI = 48.188, MACD = 0.000, ADX = 33.202). A long as the price keeps getting rejected on the 4H MA50, the trend remains bearish but it will be confirmed if the price crosses under the HL trendline (sell trigger). If that happens, we will target the middle of the S1 Zone (TP = 73.00), which is where the 4 prior H&S patterns aimed at. Note that for more than 1 year, the Head and Shoulders pattern has always been the market peak and started strong declines. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYMEX:CL1!Short
by InvestingScope
4
Weekly Price Projection for Brent Crude Oil W/C 17th April 2023Price Range Projection: Weekly High: ~ $86.58 Weekly Low: ~ $82.818 In the chart above, you can see the price on the 3-hour timescale, along with a fixed range volume profile. Weekly High Projection The fixed range volume profile (the horizontal histogram) is an indicator that can be used to show resistance and support levels. The red horizontal line in the close-up chart above indicates the point of control, which is the price level that had the most volume. As you can see, the price stalled around this point. This is where I see the weekly high. Weekly Low Projection I have placed the weekly low at a previous support level, which was formed from a chart pattern that had a breakout more than a month ago. This is shown with the two blue trendlines.
OANDA:BCOUSD
by BlackbearTrader
Can crude oil continue to rise?On the news side, the IEA monthly report on Friday was released. The International Energy Agency said in its monthly report on Friday that world oil demand will grow to 2 million barrels per day in 2023; on the supply side, OPEC+ production cuts may lead to supply shortages in the second half of the year, which also restricts the decline in oil prices to a certain extent.In addition, the current entry of daylight saving time, more travel demand itself has reached the peak season of oil, and oil prices will be boosted by demand from many aspects and will usher in a new wave of increases. Judging from the recent trend of crude oil, crude oil stepped back to 81.6 twice on Friday and was steadily caught by the bulls, indicating that the support below is strong and the rise will continue, so for the short term, continue to maintain the bullish thinking.Moreover, under the current pressure on oil prices, the strength of the pullback is limited, and oil prices have been fluctuating below 83.5 for the past five months. Once the resistance in this area is broken, it is expected to accelerate the rise and enter a new trading range. I will share specific transactions and operations in real time on my channel based on intraday details.In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILLong
by Short-term-king
angus energy plc 1D LSE update on fundamentalsLSE:ANGS Although price has been down last week, in general angs share price has been performing well, and the current drillings has been successfull. as we can see in the chart we are in a uptrend, rising wedge. i see a slow and steady rise this year. A good stock to sit back and let it work for you. JT LSE:ANGS The calorific value fluctuates within a very narrow but very significant range, From 01.10.2022 to the Present: Min 40.33 on 07.10.2022 and Max 41.52 on 26/02/2023 and Mean 41.2170 so the gas quality is of a very good quality look at the Calorific Value Metrics since 03.04.2023 when the Drill for the sidetrack was successfully completed and a gas find confirmed, During the clean up phase there fluctuations in Calorific Value closely resembled the clusters in early Q3 2022 i.e.Sept 2022 when the Saltfleetby gas supply from the first two wells was being cleaned and tested and consistent supply confirmed, Now look at how the Calorific value has transitioned since 03.04.2023 and during the past week has steadied and moved closer and closer to the mean value, so normality in supply being restored have the kill fluids being with drawn form the gas supply, Whilst the wells are distant the supply is being drawn from the same reservoir and because Gas is the least viscous state of matter there effects of working on one well would technically affect the Overall Calorific Value being drawn from the Gas Reservoir so either The Technical Expert at Angus Energy refutes my hypothesis or I believe in the teachings of my Chemistry & Physics masters at school regarding this subject matter, Regarding Completion of the monthly Hedge it is simple at come stage during the Month of April 2023 there shall be an uplift in Gas being supplied to the grid which is being supplied to the National Grid, The RNS of 03.04.2023 mentioned the supply was intended to be connected to the Grid during the Week of 07.04.2023 so I have used a simple weighted average calculation of number of days at approx 57,000 Therms and the Number of Days at 98,500 Therms 57,129.36 98,677.99 1.3636 *Current Co-efficient 15 15 30 856,940.40 1,480,170 2,337,110 The longer we go at approx 57,000 Therms the fewer days available at 98,677.99 and hence the lower the monthly mean supply hence there is approximately a financial cost of approximately GB£42,500 differential in supplying at the lower value and the higher per day , Hence I now strongly believe an official confirmation regarding connectivity it imminent and no doubt Shell are privy to the metrics during the clean up phase as they must be satisfied regarding purity of supply to the grid and that leads me to infer that Shell may be interested in Buying ANGUS Energy using the Gas and also using their expertise to optimalise the Storage Facilities before transitioning Saltfleetby to a Holding Facility for Carbon capture is is also being commented upon, source lse uk chat
LSE:ANGS
by TechnicallyBullish
WTI CRUDE OIL Best long term sellThe WTI Crude Oil is being rejected today on the 1day MA200, the longest Resistance MA technically. This rejection is also taking place on Resistance A (83.40), the December 1st top. The structural top inside the Channel Down has been the same on every occassion. When the now overbought 1day RSI crosses under the MA trendline, the sell will be confirmed. Target 70.00 (Rising Support). Previous chart: Follow us, like the idea and leave a comment below!!
TVC:USOILShort
by TheCryptagon
4
WTI breaks out of consolidation, $90 up next?WTI broke out of consolidation and closed above its 200-day EMA and resistance zone. The OBV (on balance indicator) confirmed the breakout with a move to a new cycle high, and volumes (whilst below average) are turning higher to show buyers stepping back in. Furthermore, we saw a gap ahead of the consolidation above HKEX:79 , although using classic definitions it doesn't quite fit into 'breakaway' or 'runaway' gap category. Regardless, we've seen a 30% rally from the March low with a gap along the way, OPEC+ cut oil production, and the trend points higher. With that said, the 200-day MA is capping as resistance, so bulls may want to wait for a break (or daily close) above the level. But overall, the risks appear skewed to the upside. - The bias remains bullish above 79 and an initial move to 90, then the 93.60 highs - Wednesday's low could be used for tighter risk management
NYMEX:CL1!Long
by CityIndex
WTI CRUDE OIL: Major 1D MA200 test after 7 months.WTI Crude Oil is about to hit the 1D MA200 on nearly overbought 1D technicals (RSI = 68.113, MACD = 1.880, ADX = 54.309) for the first time in 7.5 months (August 30th). This is a critical technical junction as 83.50 is also the top of the R1 Zone and the High of December 1st. With the RSI also approaching the HH trendline, we are going short on WTI and target first the 0.618 Fibonacci level (TP = 72.00). The downtrend can be deeper but this needs to be confirmed. The current bearish signal will get confirmed once the price crosses under the 4H MA50, which has been supporting for 3 weeks. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
2
Oil is about to experience an uptrend Oil experienced a sharp decline again today, and the EIA data was also unfavorable to oil. Currently, the oil price is close to the support level of 65-63. If this area is breached, the oil price will face the risk of falling to around $50. As far as the current market situation is concerned, I think this probability is not high. Although we cannot completely rule out this risk, from a technical perspective, if the oil price continues to decline, it will become oversold, and there will be a short-term rebound demand. Therefore, in the trading process, I lean towards going long at lower levels. If you have enough margin for oil, you can start a small long position now, and take profit at above 70 upon rebound. Follow me and you'll get more interesting investment information! Plus, I'll share real-time trading strategies during trading hours, including stocks, gold , crude oil , forex, cryptocurrencies, and more!
TVC:USOILLong
by EagleEyeStrategy
1