Oiltrading
USOIL ! reversed to bullish sign long trade analysisUSOIL is headed for a strong bearish trend there is sign that this downtrend may be over. While earlier bullish, oil neared the 100 EMA, rejected strongly and down. But this time, the oil broke the 100 EMA and moved very strongly bullishly. Oil is currently trading at a level it previously strongly rejected. If can break this level and show growth, you can make a profit on long trades.
Oil Back to 100$ a barrelOil has had some strong buying volume around 85-86$ a barrel. Starting to break out of the downward slope to create a new higher low pattern.
If Iran doesn't except the deal the price of oil will pull back above 100$ a barrel
-Russia might also cut of demand for EU
-USA is going to stop adding supply in September because their reserves are running low
-Anything about 93.00 i would be going long TVC:USOIL
#UKOIL (Brent Oil) : 08.23.22 This is the possible trend of #UkOil (Brent) and there's 3 scenario that i indicated them on the chart , everything is clear , but just in case if you had any questions please feel free to ask !
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⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 08.23.2022
⚠️(DYOR)
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USOIL on a hot level 🦐 USOIL on the 4h chart bounced over a monthly support.
The market after the test of the 86 level is now trading below a minor resistance.
How can i approach this scenario?
I will wait for the EU market open and if the market will break above i will set a nice long order according to the Plancton's strategy rules.
-––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
DOABC correction appears complete. No in a leading diagonal rising wedge pattern. Likely a retest to $5.80 before starting the next leg higher.
XTIUSD....BUY (7.10%)after a long sell on oil, XTI formed a double bottom between 5th and 17th August.....finally i'm expecting a bull run on XTIISD...int0 $96 per barrel!!!
There's a possibility for a price rejection at $94.2
NB: red box: rejection zone
blue box: breakout zone
FEDS open federal land for oil exploration LONG SETUP USOUSDVANTAGE:USOUSD
With the news catalyst of massive new open leases on federal land for USOIL
and the big oil companies USOUSD has reacted with a big uptrend.
with major resistance 3 to 4 percent higher this may continue.
This seems to be a good setup for a swing long trade on USOUSD
and potentially any of the big oil stocks.
Working Out A USDCAD Trade Idea I don't normally compare many markets when analyzing currencies, but I thought I'd try something new. Apart of being a trader is pushing yourself to try and track the results if you'll succeed or fail overtime. This is my first step forward trying this out. Let's see what happens.
Markets I'm using?
* Dollar Index- Indicie
* USOIL- Commodity
*USDCAD- Foreign Exchange market
The idea is USDCAD will continue back to the previous low. Price is already testing my estimation zone(my created name to my trading strategy). If price closes bearish today I will enter the trade.
What will invalidate the sell?
As I am not in the trade yet, if price closes bullish I will not enter the trade. If price passes the last high at 1.29844, I'll know price has reversed.
FYI: I am a swing trader who trend trades and trades based on the supply and demand of price. I don't use patterns, alot of indicators, or many candlestick formations. I keep my trading as simple as possible so I can see price action.
Thank you for reading and watching the me analyze this trade idea!
A 2023 prediction all of this will be disqualified if 18.2k breaks, im sure it wont.
this month will end summer and with summer comes pain so this could be the last month of the bears
good luck
Market continues betting on another US 50 bps rate hikeEUR/USD 🔽
GBP/USD 🔽
AUD/USD 🔼
USD/CAD 🔼
XAU 🔼
WTI 🔽
A tight labor market and slowed inflation have increased market anticipation for another 50 bps interest rate increase from the US Federal Reserve, thus strengthening the greenback against its peers. EUR/USD declined and stabilized at 1.0260, finally closing at 1.0258. GBP/USD fell to 1.213, with forecasts of lower Average Earnings on Tuesday.
The latest meeting minutes from the Reserve Bank of Australia will be available tomorrow morning, given the gradual economic recovery in China and Australia being less impacted by inflation, the Aussie was slightly cheered to 0.7121 with minor gains. The USD/CAD pair was relatively stable at 1.2773.
WTI oil futures went further down to $92.09 a barrel, as investors received reports from Iran about a possible thawing of diplomatic relations, while Saudi Arabia’s leading oil producer is ready to boost production.
Gold prices reached $1,815.5 an ounce, thanks to a strong dollar. Bitcoin just surged over $600 to $24,822.8.
More information on Mitrade website.
USOIL ! dropping to 70$ very bearishUSOIL still holding from the resistance zone. dxy dropping to hard but oil is not bull. Maybe the price
continue to drop lower low
USOIL ooking up 🦐USOIL on the 4h chart bounced over a monthly support.
The market after the test of the 88 level is now trading below a minor resistance.
How can i approach this scenario?
I will wait for the EU market open and if the market will break above i will set a nice long order according to the Plancton's strategy rules.
-––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Wit forecastWti is showing us a good reversal from 87 levels targeting at least 150 to 180$/barrels.
WTIOil in a bit of trouble here, likely entering a 6-10 month bear market correction. Downside target can hit the 618% of the entire 5 moves off the 2020 lows when WTI went negative.
Currently a lower time frame A wave has bounced off the 618% fib retracement level of the 5th wave. But we must correct that entire 5 up not just the 5th wave. We should bounce into a B wave soon on the daily
before making the larger C wave down close to $80. After that The HTF weekly A wave is complete and bounce again into HTF weekly B wave before finally nuking to $50 wave C to complete the entire move. You better BTFD IMHO guys because after this is done oil prices likely to run back turbo over $130.
Bitcoin to Crude ratioI think about the ratio in terms of miner stress; for instance with the defi summer rally the oil denominated chart showed that (in oil terms) BTC was already coming into ATHs at ~10kUSD. I.e. input costs were accounting for roughly the same percentage of production for miners while the Fiat price they can realize on that stock was half as much. You can tease out analogous signal from the ATH lower high/ bear div from this cycle.
USOIL is evaporatingOil has to fall if the global fight against inflation needs results.
Inflation Reduction Act of 2022 gives us fresh ammo to short the oil.
Watch for the downward supports:
Support 1 - 85.5
Support 2 - 77
Oil Buy Now its gonna grow up by 4%if we look in thr chart we find oil in a downtrend
and there is a supply thats the price gonna make a pullback and hit the supply then continue down to the downside
Oil futures return to pre-war levelsEUR/USD 🔼
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔼
XAU 🔼
WTI 🔽
Months of almost unstoppable oil bulls have returned to the starting line, and both Brent and WTI oil futures prices have returned to levels not seen since the Russian invasion of Ukraine, with WTI oil futures closing at $88.54 a barrel. Recession fears have weakened manufacturing data, and as the US summer driving season will end by September, lackluster global oil demand sends prices downward.
The loonie was dragged by the falling oil prices, USD/CAD got to 1.2864 and kept climbing, currently trading at 1.2875. New American and Canadian employment data will be available tonight, forecasts set the US unemployment to remain at 3.6%, while the benchmark nonfarm payrolls in July added 290,000 jobs - dropping from 372,000 in June.
As another central bank that has announced a 50 bps rate hike, the Bank of England also aligned with market estimates. Although the decision was the most aggressive since 1995, the central bank claims further actions are required to address the soaring inflation. The GBP/USD pair briefly went below 1.2070, but soon recovered to a closing price of 1.2157 with minor gains. AUD/USD rose above the fluctuations, gaining over 20 pips to 0.6968.
After slowing at the 1.0250 level, EUR/USD was last traded at 1.0243. Gold futures reached a monthly high at $1,806.9 an ounce.
More information on Mitrade website.
