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Nov. Crude Oil... OPEC+ meeting on the 5thNext week on the 5th of Sept. OPEC+ will have a meeting to talk all things oil. I am thinking they will pull back on production due to the massive decline in oil prices this week. (11.5% on Nov. Crude). With lower production, brings lower supply, lower supply brings higher demand! That being sad, I am looking to get long today or next week. On the chart I am looking for a swing failure of yesterdays lows into the red horizontal area. I will scale in as the price enters this zone and double down at the bottom of the zone. There is a lot of confluence at the bottom of that area. Along with all of that I see a bullish divergence forming right now that would also aid in a nice rally here. My take profit targets are signified by wave 1, 3, and 5. This trade has a 75-85% chance of playing out to at least the top of wave 1, I plan to take 25% of my position off there and leave the rest for other targets. Move stop loss into profit. Please leave a comment below on what you think and if you have an opposing idea! Goodluck
NYMEX:CLX2022Long
by farmtrader15
UKOil (Brent) 4H TA : 09.01.22 In this chart, we can see the possible price trends of Brent oil! 2 scenarios are specified on the chart based on the probability of each occurrence! Follow us for more analysis & Feel free to ask any questions you have, we are here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 09.01.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
TVC:UKOILLong
by ArmanShabanTrading
33
BRENT CRUDE OIL BEARISH PREDICTIONSPrices of petroleum are declining due to increased output by OPEC and United States and weakening demand by the Chinese economy. RSI index of the Daily graph of BRENT is below the neutral line of 50, and MACD histogram, although still above 0 line, is declining. If the price keeps falling, it might test its previous support at 91.50 and if it breaks it, it might target levels of 84. Alternatively, it might try to reach levels of 105.5 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:BRENTShort
by legacyFXofficial
USOIL a retest of the 0.5 Fibonacci area 🦐USOIL on the 4h chart bounced for a 2nd time over the 92 area. The market after the test of the 0.5 Fibonacci support 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.
TVC:USOILLong
by InkyGrip
2
Falling oil prices boost Euro above parityEUR/USD 🔼  GBP/USD 🔽  AUD/USD 🔽  USD/CAD 🔼  XAU 🔽  WTI 🔽 Crude oil prices have been suppressed by optimistic reports from Iran, Iraq, and Venezuela, all showing signs of increasing oil supply to the market. As a result, WTI crude futures lost almost $5.00 to $91.64 a barrel, Brent went below $100 to $97.84. Europe's energy shortage is then partially relieved, finally sending EUR/USD above parity to 1.0012, as the market awaits Eurozone and Germany's inflation data later today. Despite recession fears, the latest US Consumer Confidence and Job Opening provides positive readings, which may encourage the Federal Reserve to extend its series of aggressive rate hikes in September. USD/CAD climbed to 1.3092, gaining over 80 pips, and Canada will also announce its GDP tonight. GBP/USD dropped from a low of 1.1627 to 1.1655, while AUD/USD fell and stabilized at 0.6851. A stronger dollar once again held back gold prices, gold futures declined to $1,736.3, currently at $1,732.60 an ounce. Bitcoin briefly lost support at $20,000 and just rebounded to $20,233.0. More information on Mitrade website.
by Mitrade_official
USOIL looking up 🦐USOIL on the 4h chart bounced for a 2nd time 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.
TVC:USOILLong
by InkyGrip
18
WTI BULLISH OUTLOOKWTI rose in value in response of potential OPEC+ cuts and conflict in Libya. This possibility of supply cuts was enough to offset the effect of the strong US dollar. WTI broke the resistance line of the ascending triangle pattern, a bullish outlook, supported as well by the RSI and MACD indicators. The instrument might test its previous support level at 99.70, but if the break turns out to be false, the instrument might test its previous support at 94.70 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTILong
by legacyFXofficial
Oil forming a new uptrend? Hi, and thanks for stopping past for Monday's video update. Today's focus is USOUSD (oil). We are looking at oil on its current daily chart and asking if we are seeing the start of a new uptrend. We all saw last Friday's fireworks and the effect they had on the USD and risk markets. Oil acted no differently at the start moving 1.98% lower, but this was short-lived, and buyers came back into the market, cutting losses and closing at a very small gain. This was a good sign to us as we had been watching the last leg higher from $870.50 - $95.75, which broke out of the downtrend. The previous two days of trade last week continue to paint a bullish picture for oil as we have now seen a retracement and a new HL. Today's price action so far has continued to catch our attention, as it looks like buyers are trying to get a new move going. From here, we would like to see a break of Friday's high and a new move back to test resistance at $95.80 - $96. A break of those resistance points could start suggesting that we have a new short-term uptrend underway. If we see a new move lower that closes below last Friday’s low, this would be a worry that seller numbers are still very high. A new move below $90 would most likely cancel out bullish momentum in the short term. We would like to hear from you. Don’t agree or have something else to add? Please feel free to comment. Good trading.
EIGHTCAP:USOUSDLong
by Eightcap
Aramco eyes diversification after record Q2 income Is Saudi Aramco (TADAWUL: 2222) looking to diversify its income sources after soaring oil prices helped it deliver record-high earnings in the second quarter? Saudi Aramco saw its net income nearly double during the three-month period to 173.80 billion Saudi riyals ($46.28 billion) from 90.90 billion riyals. President and CEO Amin Nasser said increasing demand for the company's products made the record-high earnings possible, adding that it also benefitted from favorable market conditions stemming from strong global crude oil prices. But as oil prices begin to cool down, Saudi Aramco has set its sights on improving its technology and generating products from different sources. Reaching New Heights Saudi Aramco formally listed on the Saudi Stock Exchange Dec. 11, 2019. Upon its debut, it became the most valuable listed company with a market capitalization of $1.9 trillion. It was eventually dethroned by Apple (NASDAQ: AAPL), but thanks to oil price hikes, it reclaimed the title in May with a market value of $2.43 trillion against Apple's $2.37 trillion. Every movement in the company's price is heavily reliant on oil and energy prices. Saudi Aramco saw major growth when oil prices reach multi-year highs at the beginning of the second half. When war broke out between Russia and Ukraine, oil prices had another boost. Nowadays, industry observers aren't as bullish. Last week, oil prices tumbled amid fears that demand could weaken due to an impending economic slowdown, Reuters reported. Given this trend in oil prices, the company had been on the red, dropping nearly 3% to $39.00 since August 14. Its management does not seem fazed, however, with Nasser saying "we expect oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts." Off to new goals Nasser, as part of Saudi Aramco's second quarter results, said the company is working to increase production from multiple energy sources, including oil and gas, as well as renewables and blue hydrogen. "We are progressing the largest capital program in our history and our approach is to invest in the reliable energy and petrochemicals that the world needs, while developing lower-carbon solutions that can contribute to the broader energy transition," he added. Khalid Al-Falih, Saudi Arabia's Minister of Energy Industry and Mineral Resources and chairman of the Saudi Aramco's board, said the company will be on the frontline of the country's Vision 2030. He said the company "will become a much more technology and knowledge-driven organization" and that it "will seek to move, change, and expand into areas that will not only make it more agile and responsive, but also lead the industry into a better energy future."
TADAWUL:2222
by BlackBull_Markets