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Oiltrading

Occidental Petroleum (OXY) stuck in a ascending broadening wedgeOXY has a trailing twelve month Price to Earnings (PE) ratio of 8.4. The historical average of roughly 15 shows a good value for OXY stock as investors are paying lower share prices relative to the company's earnings. OXY's low trailing PE ratio shows that the firm has been trading below its fair market value recently. Its trailing 12-month earnings per share (EPS) of 6.90 more than justifies the stock's current price. However, trailing PE ratios do not factor in the company's projected growth rate, resulting in many newer firms having high PE ratios due to high growth potential enticing investors despite inadequate earnings.
NYSE:OXYShort
by UnknownUnicorn38289576
Crude oil will probably find its long term top soonAfter almost two and a half years, i decided to come back to tradingview again. Right now i am working for one of the largest commodity trading houses and covering our metals trading business in Asia. In the future, i will try to share as much as my personal views at here, also you all welcome to challenge and discuss. In the last few months, we see an incredible inflation increased in Europe and USA due to the Ukraine war. The gap of export push the price of almost all kinds of commodities to the historical high, including agriculture products, energy products, metals, etc. The people in Europe and USA are suffering from this sudden increasing of living cost, which also brings a lot of pressures to their governments. For crude oil, I think those leaders will give up to the inflations and try their best to buy Russian oil and Russian gas to lower down their domestic energy price. ( I believe that they will also buy a lot of corn and wheat from Russia ) In the other hand, the Fed's rate hiking decision will keep bringing pressures to the commodity market. So due to the economic cycle and potential cooling down of global energy crisis, I think Crude oil will find its long term top soon. At the technical side, i marked two resistances and one support line. For sure, the resistance zone will attract many bears to join the fight.
NYMEX:CL1!Short
by Nee_sh
India tricks the West, Strong dollar & China imports russian oilOil top might be in for this year. Reasons: 1. Market adjustment mechanisms are underway on the commodity markets, ensuring that Russian oil, which is spurned by the West, once again finds its buyers (india, china). This in turn causes these countries to demand less Brent or WTI oil, which again depresses prices. India and China are buying significantly more crude oil from Russia, Europe less, which means there is a balancing out taking place on the world markets with the new tanker routes and transportation routes. 2. India recently bought more oil from Russia than ever before, according to a recent report by the Finnish Energy and Clean Air Research Center. "A significant portion of the crude is re-exported as refined oil products, including to the U.S. and Europe, an important loophole to close," the Finnish analysts warned. Since new sanctions measures are very unlikely, the alignment process between Russian oil and Brent and WTI crudes is likely to continue. 3. Dollar price, interest hikes & recession fears by FED. The strong dollar is also acting as an additional burden on the oil market. This is because commodities such as oil are traded in dollars. If you read between the lines of the FED, they're doing their best to crush commodity and oil prices to crush long-speculators on comm and oil. 4. Fear of new lockdowns in China. Chinese head of state Xi Jinping nevertheless only recently announced that he would stick to the strict zero-covid strategy. This is fueling fears of new lockdowns in China = downside risk for oil demand in China, probably a small impact, since the gov in China is trying its best to avoid a greater corona outbreak in large cities to stabilise eco. situation. 5. bitcoin/tradional markets are sometimes seen as counterparts to oil. Bitcoin, despite very bad news (CPI increased) and being a risk asset, has not moved much further down in price, showing that risky assets have more or less found their bottom while oil bulls have an empty tank. Opinion: I see the price cooling down slowly rather than continuing to climb, probably going towards 70-60$ in the next 6-10 months. ! This is not an investment advise! Do your own research! This is NOT a recommendation to buy or sell oil shares and this is NOT a recommendation to short or to long oil!
FX:UKOILShort
by Lobotto
CFD News; Oil sees demand after testing key support.Welcome to Wednesday's update, subscribers and TradingView community Today our focus is on oil as price has started to move higher after testing and holding for now at key support. Price continues to trade in a short to medium-term downtrend after sellers turned momentum back in June. Since that point, it's been a series of LHs and LLs. Today's price has shown defensive action from buyers after this morning's lower gap failed to beat 94.90 area support and demand. Could yesterday's bar be seen as exhaustion? If buyers can hold this level of support, we will be looking for price to continue to push higher. Obviously, if we see a break, then it's back to looking for new LLs maintaining the downtrend. The MAs remain bearish, but the OBV has stopped putting in clear LLs despite yesterday's strong move lower. Could support be hiding plenty of fresh demand from oil buyers? We will have to wait and see if buyers can hold the level again today. Data to keep an eye out for today. 10:30 pm US CPI and core CPI. 12:30 am US crude oil inventory numbers.
EIGHTCAP:USOUSD
by Eightcap
Oil prices declined to a three-month low, EUR/USD reached parityEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔼 XAU 🔽 WTI 🔽 WTI Oil futures have returned below $100 to a three-month low of $95.84 a barrel, thanks to recession fears and hopes for a production boost among major OPEC members. Tonight's US consumer price index is predicted to reach a 41-year high of 8.8% for June, paving the way for another 75 basis point hike to combat inflation. On Thursday, the US Crude Oil Inventories are expected to decrease by 154,000 barrels, possibly cheering oil prices. A contracting economy has strengthened the greenback, with the Euro briefly reaching parity towards the US dollar to close at 1.0003, then recovered to 1.0036. The German ZEW Economic Sentiment has recorded a reading of -53.8 against a forecast of -38.3, the negative sentiment is shared among predictions of various CPI data, which will be available this afternoon. GBP/USD bounced back from 1.1818 to a closing price of 1.1885 with negligible losses, while a series of GDP data will be provided by the UK Office for National Statistics tonight. Despite investors anticipating a slowed growth in yearly and quarterly terms, the forecast for a 0.1% month-on-month bump still showed certain optimism. The AUD/USD pair rose 25 pips to 0.6776, and the USD/CAD climbed 14 pips to 1.3021. Later today, The Bank of Canada will likely follow the Federal Reserve with a 75 basis points rate hike to 2.25%. Meanwhile, gold futures fluctuated on a downward trajectory to 1,724.8 an ounce. More information on Mitrade website.
by Mitrade_official
How to trade OilLooking at CL1! now, a break of Friday's low is a daily-down rotation. Below $100 opens the door back down to the $96.50 area, followed by ~$93 and the 200-day. Oil bulls have not been used to seeing /CL in a downtrend this year. However, that's the case at the moment with the 10-day acting as active resistance, while it's below all of its major short- and intermediate-term moving averages, as well as uptrend support. Longer term, the trend still remains constructive, but /CL is currently vulnerable. On the upside, oil needs to reclaim $105 to $105.50 to unlock $110+ but it will need to do more than that to repair the recent stress on the charts.
NYMEX:CL1!Short
by bkenwell
WTI -2/6/2022-• After rallying for more than a week, bulls failed to break above 116 resistance level • Oil prices have been trading lower for the past 2 sessions but still within an ascending bullish channel • Next target to the downside comes at a level between 110-111 (trend line support) • A break of the bullish channel signals fading bullish power and targets 103, 100 and 92.6 respectively • Longs recommended while still inside the channel with stops below 110 • Shorts to be executed on a successful breakdown from the channel with stops just above the lower trend line and targets listed above Good luck
BLACKBULL:WTI
by RamziAbouAbdallah-CMT