Anyone get some WTI longs?TVC:USOIL
Nice looking longs for the oil traders here.....
Does that mean my gas going up for my car?
Oiltrading
WTI CRUDE OIL: Any pull back is a bargain to buy.WTI Crude Oil delivered what was expected, it hit our long term TP = 66.00 and is rebounding after a new Lower Low at 63.65 (S1). The 1D RSI is still very low (35.546) while the 4H technicals just got out of their yesterday's remarkably oversold condition (RSI = 36.200, MACD = -1.970, ADX = 63.277). Our short term target is the 0.382 Fibonacci (TP = 71.25) and medium term the 0.618 Fibonacci (TP = 75.50).
We don't rule out one last pull back and if it happens it will be another bargain to buy low, as it was on March 20th. Regardless of that, the 4H MA50 is always a candidate for rebounds and it can match the 71.25 short term target ideally.
Prior idea:
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USOIL signalAs you can see we have a good set up in the market also the market looking for a new levels at the down side in 4H
Crude oil is about to return to the upward pathAt present, oil continues to fluctuate in the 70-83 region. Last month, OPEC suddenly announced a production cut and opened higher. After a month of fluctuation, the gap was finally filled last week. Then the top-bottom conversion to the 75.7-75 region has become an important support in the short term. As for crude oil short orders, there is no rush to participate for the time being, and the technical outlook is rising;
News that lower oil inventories are also a factor in the rise in crude oil; in addition, Saudi Arabia and Iraq will reduce production at any time to protect oil prices and revenue, and the probability of a sharp decline is very small, so today's crude oil trading is mainly based on low-level long positions.
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USOIL And When To Enter..So we looked at OIL to Re long on falls.
We said NO to the earliest support zones as we knew previous PA was weak.
That is why we let ourselves fall to stronger PA to re long.
This is labelled as shown.
Trade OIL contracts small.
30m Oil Timeframe Short 4/1 H&S pattern has emerged at levels needed to fill in the gap.
Great return ratio. Small risk.
USOIL - Waiting for a Breakout 📉On The Weekly Time Frame, The USOIL Price Reached a Major Key Level (80.46-83.32) ✔
The Price Failed To Break This Resistance Level !
So, I Expect a Bearish Move 📉
i'm waiting for a Successful Breakout in Support Trendline 🔥
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TARGET: 74.35🎯
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OIL BUYHey, the oil market has reached an important area as you can see in the analysis. There is a high probability of an uptrend with a retest of the descending channel. good luck for everbody .Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
4/25 Crude oil trading signal: Sell
The pattern of crude oil is similar to a double top, with resistance levels near 78.8-79.2, so a short signal was given before the market today. Now the trend is still in a short form. The rebound is a short opportunity. If you can't grasp the timing well, you can find me
USDCAD - Tough DayOANDA:USDCAD
Monday and very tempting to jump on a trade, after a weekend of staring at charts.
Uptrend for the UC is at a pause right now, at several highs.
The current RangeSentiment on the 15m is trying to form the first leg of a bearish move, and fighting the overall bull sentiment.
Tough to sit on your hands on this USDCAD.....
WTI OIL 24-28 April 2023Still maintaining my previous technical analysis on WTI OIL, the gap was reached last week and might play on sideways prior to make major move. Bearish momentum is still strong when checking the Heikin Ashi, indicators are pointing down,NO sign of Bull movement, I might play the level from 76.00- 81.00 level (my Buying and Selling).
7% Gap up to Resistance. Holding above 82$ 🛢️Bulls appear rather strong as we can observe a strong move back into the range and 🛢️ has easily made it's way back to the resistance area . Price has been in this range for 5 months. We have managed to gap up an insane amount for a liquid asset like USOIL. On top of this we have managed to close above all other Daily Candles to the left within the range. We are holding above 82$ for multiple days.
USOILNot financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
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.
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.
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.
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short term trade 83.50 AD at spike levelad approaching the spike level along w/ developing a bull flag breakout short term target 83.50, and looking bullish continuation to continue to the higher time frames
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.
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.
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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
Crude Oil and Natural Gas - Bearish ReversalsCrude Oil (WTI) & Natural Gas have been in an uptrend.
Reversal Patterns are present, and BIG bearish moves are around the corner.
Technical Analysis:
- WTI: Ascending Channel Breach
- Natural Gas: Ending Diagonal
OIL daily chartCurrenlty looking to see if oil is going to continue increasing in price to the 85-86 range, I think we have some potential room to go up still before we see any type of retracement or even bearish price action. Enjoy!
