Oil can rise again...Ascending trend line holds price and can push it to goes high again.
Double bottom potential in lower timeframe and zigzag pattern can cause price rise again.
Trade safe.
Good luck.
Oiltrading
petrol setupmarket come back to the supply we see price action can't break this supply until now so my vision is the price can't sweep the last lower low we may look for buy targeting buyside liquidity
WTI CRUDE OIL: Selling until the end of the month.WTI Crude Oil is bearish on its 1D technical outlook (RSI = 35.492, MACD = -1.060, ADX = 41.641) as it got rejected on the 1D MA200 today. The longer it remains under the 1D MA50, the stronger the selling will be. Being inside a Channel Down similar to October-November 2023 that extended all the way to the 1.5 Fibonacci level, we are expecting selling for the rest of the month. The 1.5 Fib is now just over the S2 level and that is our medium term target (TP = 71.50).
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Crude Thursday Forecast I've been very reluctant to publish any idea's this week intra day, as I believe we are in retracement from the amount we sold off recently.
The 4hr wick CE is the point of interest I have where price respected
I am aiming for the 15min SSL to be broken and a setup form this CME open....
Lets wait and see...
US Crude Oil Benchmark: Implications of Rising InventoriesThe US crude oil benchmark is currently trading around $79.50 on Friday, marking a continued decline from its recent peak of $88.00. This downward trend is attributed to several factors, including rising crude inventories in the United States and diminishing expectations for interest rate cuts from the US Federal Reserve (Fed).
The Fed's decision to maintain interest rates unchanged on Wednesday, despite persistent inflationary pressures, has contributed to market sentiment. The central bank indicated that it will refrain from cutting interest rates until it has greater confidence in the sustained moderation of price increases towards its 2% target. This stance, described as "higher-for-longer," suggests a prolonged period of unchanged rates, potentially leading to reduced demand for oil as economic activity slows.
In light of these developments, there is a strategic opportunity to consider buying oil at discounted prices. Two buy limit orders have been placed, anticipating a potential increase in oil prices over the next two months. This expectation is supported by historical patterns and insights from the Cot report, which indicates a decrease short positions of Money Managers. Consequently, there is optimism for a rebound in oil value in the foreseeable future.
Crude - Pre Market Guessing.So I don't take too much of my time on the weekend trying to figure out where price is going to go as price isnt even active.
So barring any exponential moves Sunday open I am still bearish and have :
Monthly Wick CE and target 1
Weekly SSL as target 2
Pre CME open I will re analyse where the market is and publish further forecast for the day.
OIL BUYAgain an opportunity to expect oil to rise.
The exchange rate rebounds from the support-resistance level.
Israel strikes Iran againIsrael retaliated against Iran overnight, which saw the price of WTI crude oil jump nearly 4.5% before giving up some of its gains. Per media reports, three large explosions were heard in the country's south, and the U.S. official announced Israel successfully hit some of the targets, something Iran was quick to deny. Without regard for damages, it is already apparent the two adversaries entered a spiral of reciprocatory aggression. Unless there is any form of effective mediation between the two sides (which is, by the way, unlikely), the conflict could enter a stage of regional war, with Israel potentially fighting on multiple fronts. Needless to say, this has enormous implications for the region, which is responsible for a significant portion of the global oil supply and, thus, influences oil prices (at this point, the only counterweights for the rising price of oil could be OPEC’s willingness to bring production online, protraction of global economic slowdown, and potentially more releases of oil from the Strategic Petroleum Reserves by the USA).
Technical analysis
Daily time frame = Bullish (stalling/turning neutral)
Weekly time frame = Bullish
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
Technicals On Crude Post FOMCWednesday we saw Crude make a nice substantial move downwards as the previous forecasts have shown.
A large range day isnt normally followed by another day with a extremely large range and you can think of it like a runner running 800meters and couples minutes later having to run another race shortly after... energy needs to be recouped.
I am staying bearish and would like to see the Daily FVG and PDL liquidity taken and Daily FVG to be filled/spiked to.
30min fvg CE aligns with Daily ifvg which I believe should hold price lower.
Watch these levels post NY open.
1 Week Later and Oil is down 3.66%1 Week after the beggining of conflict between Israel and Iran in the middle east, Crude Oil is down 3.66%. Price began trending down all week and then on Thursday there was news of a bombing by Israel which caused a spike in Oil(3.5). This whole move was corrected and we are back to being down on the week. This opposes what I believed may play out this week as my thoughts were 1. Oil is a precious commodity and needed in War 2. The trend thus far this year is Bullish (we are up 13.82%) The market is instead going down and retraced this week. We are currently sitting on the Daily support level 81.23. Price action looks bearish on the Daily as we have a large top wick on the current candle.. moving into the next few weeks we will have a bearish weekly candle behind us that may aid in a descent towards the next Daily level 80.65 and beyond to the next weekly level 77.82. Also, this is in line with current risk-off market sentiment as Oil (Risk-on) is a commodity after all
Daily timeframe : The Daily timeframe retested Daily resistance (85.65) and we rejected.
CRUDE OIL Bullish Heist Plan to BuyDear Oil Robbers/Traders,
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FOMC Crude OilDaily Target met post NY open and Crude oil news.
Drop mic.
Just imagine you had the skill or someone to guide you where price is going?
You have the model... you just need direction.. we all struggle at one point on the bias esp intra day which needs a trader to be dynamic in his/her thoughts even when price is going against them intra day.
Daily/Weekly are essential.
Will update later for further bias and forecast for Crude!
Technical Forecast... Crude OilWith FOMC looming today and NFC I don't see any reason for the Weekly SSL to be taken out and price to at least stab into the Daily FVG.
I will be looking out for meaning full moves into these price points during NY session today.
London may offer a little chance to create some false idea we have done it but usually the move is fake and revisited.
80.50 is my weekly objective as it has been from late last week.
So my trade idea's will evolve around price post retracement and then heading down.
CRUDE OIL Bullish Side Robbery Plan to make moneyMy Dear Robbers / Traders,
This is our master plan to Heist Bullish side of Crude oil Market based on Thief Trading style Technical Analysis.. kindly please follow the plan i have mentioned with target in the chart focus on Long entry, Our target is Red Zone that is High risk Dangerous area market is overbought / Consolidation / Trend change /Strong Pullback happens at the level Bear Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of Powerful dynamic resistance level, Once it is cleared we can continue our heist plan to next target.
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Crude Oil Tuesday.Daily Bearish
Stay Bearish bias until 1hr -OB is closed above with a displacement candle @ 83.25
In this chart I am illustrating why IMO, this is a High resistance Liquidity run and not LRLR.
The Price in the circle is Balanced, so for price to cut through this with ease is difficult all be it we have a signature LRLR bellow.
So if a bearish setup appears don't expect it to run through like butter..
I am looking for bearish PA
Crude Oil ForecastSo I was looking at Crude on the weekend and I couldn't determine a clear direction for Monday.
Now Monday Is almost over and we Have disrespected the Mean threshold of the Daily +OB I do expect price to be bearish and heading down towards the Daily FVG.
An Good indicator on the Daily we have respected the WEEKLY ifvg CE.
These things are very important to watch.
Before 0930est I will post intra day targets that I suspect will be Draw On Liquidity.
Bring on Tuesday!
Why Oil Bulls May Be Right: Signs of a Tightening MarketOil prices have experienced a volatile period in recent months, with concerns about global economic growth and geopolitical tensions battling it out with signs of a tightening physical market. However, for investors with a long-term perspective, recent developments suggest a potential bull run for oil, making it an attractive asset to consider.
Here's a deeper dive into why going long on oil could be a strategic move:
Tightening Physical Supplies: One of the most compelling arguments for a long position is the evidence of a tightening physical market. This is reflected in key timespreads, which compare the price of oil for immediate delivery to the price for delivery at a future date. In a healthy market with ample supply, the price of oil for immediate delivery would be lower than the price for future delivery (contango). However, when the physical market tightens, the opposite happens – the price of oil for immediate delivery becomes higher than the price for future delivery (backwardation). This phenomenon, currently observed in the oil market, suggests that there is a higher demand for oil right now than there is readily available supply.
OPEC+ Production Cuts: Adding fuel to the fire are the production cuts implemented by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+. These cuts, aimed at supporting oil prices, have helped to restrict supply and contribute to the tightening market conditions. While OPEC+ is considering easing the cuts in the coming months, the extent of this easing and its impact on the market remain uncertain.
Geopolitical Instability: Geopolitical tensions around the world, particularly in major oil-producing regions, can also disrupt supply and push prices higher. Recent events, such as ongoing conflicts or threats to critical infrastructure, highlight the vulnerability of the global oil supply chain.
Limited Non-OPEC Growth: While concerns persist about a potential slowdown in global economic growth, particularly in China, the anticipated increase in oil production from non-OPEC members may be less pronounced than previously expected. This could further exacerbate supply constraints and bolster the case for oil bulls.
However, some headwinds remain: It's important to acknowledge the countervailing factors that could dampen oil prices. The persistent issue of inflation in the US, for instance, could lead to interest rate hikes by the Federal Reserve. This, in turn, could strengthen the US dollar and make oil, priced in dollars, more expensive for buyers using other currencies, potentially dampening demand.
Conclusion: Despite these headwinds, the evidence of a tightening physical market, coupled with OPEC+ production cuts, geopolitical uncertainties, and limited non-OPEC growth, paints a compelling picture for a potential oil price rally. For investors with a long-term perspective, strategically going long on oil could be a profitable decision. However, careful monitoring of factors that might impact supply and demand, such as global economic conditions and policy decisions, is crucial for managing risk and making informed investment choices.
Gold can push it 2380Hey there on 1htF the Gold has moved upside from last 2 days and also now continue moving upside from last pivot 2305-2309 so we can further demand Support is 2320-2330
When the upside our next target is 2380
We can see on April can be rebound and moved top 2400
Oil / Crude Oil Heading into end of WeekSo we are on the Daily Not moving with much drive and lets say... obvious direction when it comes to day to day bias (Overall Bearish)
I am ONLY focusing on PDH and PDL as targets today with any signal to buy or sell into the market being in a discount before I place a trade.
Range day - yes
To consider that Thursday's have seen good movement on Oil recently so keep this in mind.
Consider also that the Daily wick CE is also aligned with the weekly ifvg.
I will be looking to enter positions today as I am a scalper however anything on the 15min or above I would side with caution as prolonged moves may not be on the cards esp going on the last two weeks of PA.
Also like to thank the people who Boost my posts it means a lot.
US30 looking For Mid Range Hey There on 1htF the US30 looking for buy opportunity here 38.400 and til valid rise upside untill ourp resistance support 39400
And then we can sell opportunity immediately back side till 38100 so we can use this circle and continue make target
Jump on the Oil Swings with Confidence!I am excited to share some positive news with you regarding the recent developments in the oil industry.
According to the Energy Information Administration (EIA), crude inventories took a significant dip last week, falling by a whopping 6.37 million barrels. This decline has sparked a wave of optimism in the market, with WTI prices hovering around $83 a barrel and swinging between gains and losses.
As we navigate through this risk-off mood and witness the US stockpile decline, now is the perfect time to consider going long on oil. The potential for further price increases is certainly within reach, and this could be a lucrative opportunity for all of us.
So, let's not hesitate and take advantage of these oil swings with confidence. Trust your instincts, do your research, and make informed decisions. Together, we can ride the wave of success in the oil market.
Crude Oil WednesdayToday On the Daily I am in confliction with bias meaning that it could be changing soon if we repeat another bullish closing day.
For this I have dropped down onto the 4hr TF and the most recent 4hr -ob is what I will be referencing as to Bullish or Bearish intra day PA.
Scalpers Market atm
If you un sure, sit still.
We did close above the Daily v.i as I have mentioned in my previous posts... so my bias for 80.50 is in jeopardy but as a trader your mind must be dynamic.
As I said sit still or scalp but not in the middle.
CRUDEOIL / USOIL / WTI Bullish Analysis Robbery PlanDear Oil Robbers,
This is our master plan to Heist Bullish side of OIL Barrels. My dear Robbers U can enter at the any point above my entered area MA Pullback, Our target is Red Zone Snake Trap Zone. My dear Robbers please book some partial money it will manage our risk. Be safe and be careful and Be rich.
Loot and escape near the target 🎯
support our robbery plan we can make money take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
