Get started

Oiltrading

WTI Rises Above $84.50 Amid Summer Demand ExpectationsWith the peak of the summer travel season, marked by the Independence Day holiday this week, US oil demand is expected to surge. The American Automobile Association (AAA) projects travel during this period to be 5.2% higher than in 2023, with car travel alone increasing by 4.8% compared to the previous year, according to Reuters. Crude oil markets are further supported by ongoing geopolitical tensions in the Middle East. The Israel-Palestinian Hamas conflict continues to create volatility in energy markets. Investors are concerned that a potential cross-border spillover could involve direct action from Iran, a Hamas supporter, threatening crude oil supplies and logistical stability in the region. The American Petroleum Institute (API) reported the steepest week-on-week decline in US Weekly Crude Oil Stocks in nearly two years. API data showed a significant weekly decrease of -9.163 million barrels, far exceeding the forecasted -150K drawdown and following the previous week’s -3 million barrel decline. Given our forecast, we are currently considering a short position in the supply area. Typically, crude oil production for summer demand occurs in the preceding months, leading to higher oil prices before the summer season. Our seasonality analysis indicates that crude oil prices generally decline in trading from the end of July through September. Therefore, we are now looking for a short position. ✅ Please share your thoughts about WTI in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
BLACKBULL:WTIShort
by FOREXN1
1
Oil baby, common you can do it! Do it!FA: Historically, when the Fed rate is lowered in the U.S., there is one very simple pattern - the collapse of commodities! Of course, there are nuances related to the rate of downgrade.... Prices do not start falling at once... most often there is a time lag from 2-3 months to 8 months. It is important to understand the following... The USA controls oil prices (directly or indirectly - but the fact remains). Oil reserves in the states are low but last report showed very nice numbers (actual -0.8M vs forecast -2.7M) Now catch the train of thought: US will start a cycle of rate cuts- US has more than enough oil reserves - historically rate cuts are a drop in oil prices TA: After aggressive movement till 4h gap, price went down as expected with first MS, then price went up to test BTS zone and made second shift (BoS) and came into bullish 4h fvg. Now there are 3 options: 1 - move higher till 4h fvg into premium , rebalance and final move till EQL at 71.4$ area 2 - fail 73.3 area from market opening with potential move downwards till EQL 3 - Breaking above 4h FVG with target at 77.55$, this option can be considered only after closing above 4h fvg on 1h+ time frame with candle's body
TVC:USOIL
by Almenio
OIL Short - Wouldn't it be funny?I mean... expect the unexpected right? Monday seems to have topped out the whole move while wednesday could be a potential conitnuation. Where would be the biggest pain point for longs? PS: Prepare yourself to work with broader SL here, $78 is as well in play. But I like this current situation since I know that the majority is obviously long cause of our daily world drama and it just doesn't make sense to anybody that Oil could suddenly drop again?!
TVC:USOILShort
by Psytropy
1
Crude oil 76.5 buy tp :79!Last week I have been stressing that crude oil 74 is a one-hour bottom support and has not formed a new low and every day is building a bottom to push up the price which will be the rhythm of the correction and continue to rise! If you follow my advice then you will make at least $30 more profit! Many of my articles will be blocked but my prediction accuracy is over 100% if you want to get a factual trading signal you can click on my website to contact me! In case I can't be reached The trend of crude oil in the last two trading days formed a V-shaped trend line has reached the bottom position, so this position you just need to buy you can make money! Crude oil 76.5 buy tp :79!
TVC:USOILLong
by CrazyPeter001
USOIL OverviewUSOIL has HIGH VOLUME long candles, looking to reach the 78 - 80 range. It has recently broken through multiple support zones with HIGH VOLUME, showing that USOIL is likely to increase further in the coming days. I'm looking for it to enter back into the support zone, and we will see if it bounces or rejects and breaks lower. It could, on the other hand, not bounce at all and increase straight to the 78 - 80 range, where I will be looking for shorting options at the RESISTANCE level.
TVC:USOIL
by I3ig_Trades
Oil Prices Slip as Gaza Talks and China Worries WeighOil prices edged lower at the start of the week, as traders weighed the potential impact of ongoing Middle East tensions and softening demand from China. Brent crude, the global benchmark, dipped towards $79 a barrel, while West Texas Intermediate (WTI) hovered around $76. The recent decline follows a turbulent week for oil markets, marked by significant volatility. Prices had shed nearly 2% on Friday as investors grappled with concerns over China's economic recovery and the potential implications for global oil demand. The world's second-largest economy has shown signs of weakness, with data indicating a slowdown in industrial activity and consumer spending. This has raised doubts about China's ability to drive oil consumption growth. Meanwhile, the ongoing conflict between Israel and Hamas in the Gaza Strip continues to cast a shadow over the energy market. While diplomatic efforts to broker a ceasefire have intensified, the situation remains volatile, and the potential for disruptions to oil supplies in the region cannot be ruled out. The geopolitical risk premium, which has supported oil prices in recent months, could diminish if a ceasefire is achieved. Analysts caution that the oil market is likely to remain volatile in the near term, as traders navigate a complex interplay of factors. On one hand, the potential for supply disruptions due to geopolitical tensions could underpin prices. On the other hand, weakening global economic growth and efforts to transition to cleaner energy sources could exert downward pressure. Looking ahead, investors will be closely monitoring developments in the Middle East, as well as economic indicators from China and other major economies. Any escalation of the conflict or further signs of weakness in the Chinese economy could lead to renewed volatility in the oil market. Ultimately, the price of oil will depend on the balance between supply and demand. While the market has experienced periods of tightness in recent months, concerns about slowing demand growth may start to weigh on prices if they materialize.
OANDA:WTICOUSDShort
by bryandowningqln
OILUSD/H4 WTI oil fluctuates in the stable range of $70 - $80.OILUSD forecast on August 13, 2024: WTI oil is under pressure from the war and DXY is decreasing. Currently, the oil price has risen from the $71 region back to the $80 area. It is likely that oil will experience a correction before continuing its upward trend. The trading trend today is BUY. Key levels to watch are: 76.5, 78, 80, and 82. Recommended orders: Plan 1: BUY OILUSD zone 76-76.5 SL 75.5 TP 78 - 80 - 81. Plan 2: BUY OILUSD zone 77.60 - 78.10 SL 77.20 TP 79 - 80 - 81. Plan 3: SELL OILUSD zone 83.30 - 83.50 SL 83.80 TP 82 - 81 - 78.
NYMEX:CL1!
by wetdyerap
Oil crushing it's slippery slope NYMEX:MCL1! After nearly a month of selling, oil seems to be taking back buyer's momentum that first started on July 17th, 2024 and ended on August 6th, 2024. When the creation of the "W" formed shortly after hitting a 10 min supply area, this signaled the last moments of Oil's sell trend. As we go into this week, we see that oil is still coming in hot to take back supply area's that it created on the 1hr timeframe, but it's due for a pullback. Depending on after market movements, we can possibly see Oil start to pullback to continue making buy structure to the upside. Oil has a good possibility to make it back to the areas of 83.50 and 84.50. Since in current time right now as I'm typing this, Oil has already broken 3 LH's (lower high) that were created between July 22nd, 2024 and August 1st, 2024. We can see pullbacks in the range of 78.84 and 77.12 to potentially see continuation of buying movements. Within this outlook, my current analysis is buyers market until price shows other signs.
NYMEX:MCL1!Long
by eightyfourtrades
1
Texas Oil to continue in the downward move at market price?WTI - 24h expiry Our short term bias remains negative. Our bespoke support of 77.06 has been clearly broken. Previous support at 77.50 now becomes resistance. We look for a temporary move higher. We look for losses to be extended today. We look to Sell at 77.50 (stop at 78.30) Our profit targets will be 75.50 and 75.15 Resistance: 77.13 / 77.50 / 78.00 Support: 76.60 / 75.80 / 75.4 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:WTICOUSDShort
by OANDA