Since our short-term price target of 80 USD was taken out a few weeks ago, we abstained from setting short and medium-term price targets because of very high volatility in the oil market. Despite that, we stuck to the long-term price target of 70 USD, to which we remain committed. Our views are based mainly on fundamental factors concerning the deteriorating...
We continue to be bearish on USOIL. Accordingly, we still maintain our price target of 90 USD per barrel of WTI oil. Indeed, we would like to change this price target from medium-term to short-term. Additionally, we would like to set a new long-term price target for USOIL at 80 USD. Illustration 1.01 The sloping line acts as the resistance; the more touches...
I can really oil bullishness beginning of headed week till we get a clear view Wednesday. But I think middle eat will jot abide to USA concerns and will continue supporting each other and Russia.
These are levels that I'll be keeping an eye on when dealing with USOIL, and I'll revise as price action progresses. I adapt to the change in money flow. This is a representation of greed in play when it comes to oil. However, I do believe in the coming months things will get very interesting due to price action's placement in the market, things that have taken...
Good morning/good afternoon TradingView community. Today's video idea is focused on oil as we saw a solid reversal yesterday sellers did their best to get a new leg lower going. Buyers not only stopped the run but put in a solid reversal bar that finished above the 50% point of the previous lower bar. This action has us thinking, could this be the start of a...
OIL_BRENT is trading in a narrwing wedge And will soon retest a horizontal resistance at 112.45 A bearish move down will follow However, IF the resistance is broken to the upside The setup is invalid
BCO WTI SHORT SHORT TERM MIDTERM LONG Sky-high oil prices have left both America’s oil industry and its President pointing fingers at one another. Biden has repeatedly called on the oil industry to increase production, but the industry has been slow to act, and perhaps for good reason. Historically, the oil industry has ramped up production when prices rose...
A simple analysis of the trend without indicators just following the basic trendline guidance. As we see with don't have an uptrend anymore and that will be more clear the next 2 days. If nothing bad happens again between Russia and Ukraine i think we will go back to the 80-90 dollar region fast. So we go short expecting huge decline and high profit. Good Luck to...
We will see crude oil prices above $100 in a few weeks. We are going up to finish the intermediate degree 5th. We will probably just finish the Minor wave 2 and going for minor wave 3 within an intermediate wave 5. DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for...
Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ Oil prices recovered losses after falling more than 3% the previous session, as investors assessed the impact of reducing Russia-Ukraine tensions against a tight global...
Triangle formation on short time frame, look for short entry Key Levels : 81.2 - 81.8 - we might see significant support in this zone Observations : 1 - Trendline support is drawn based on more short term basis and I think is more validated than most I've seen posted here as there has been numerous bounce from it as indicated in the chart 2 - Current formation...
Had a good Xmas run, it’s not had a true retrace as yet to confirm support from the parabolic run. Negative divergences on RSI and TSI 4 hr and currently back in the rising wedge after a false breakout north. Im short for now but long for the medium to long term based on supply constraints and various other world and geo political events.
Prices of oil have a direct impact on the inflation. The higher oil prices have started impacting the consumers across the globe. We have used Aspen Trading Support & Resistance Levels to analyse the oil prices trend. It has clearly broken down the short-term support levels at 77.75 and most probably could lead to further down side. As the the oil production...
We continue to search for oil longs to a new high and then look for sell zones. Not a lot of purchase volume!
The world’s top commodity traders have forecast a return to $100-a-barrel oil TVC:USOIL An investment in new supplies slows down before demand has peaked and before green alternatives can take up the slack. Executives from Vitol, Glencore, and Trafigura, and Goldman Sachs said that $100 crude was a real possibility on Tuesday, with prices already reaching...
Oil is currently in a base consolidation at a multi-year support & resistance zone. There’s some RSI divergence in this choppiness. Not interested until price action has built support over level 70 for a long or a defined resistance below level 60 for a short. Will be updating as we go. Sharing humbling my POV and will gladly discuss with anyone if we agree or...
Hello and welcome back traders🙂. Wti Oil has been following my analysis and has hit the first TP. Meaning I can now bring my second position to breakeven and let the market play its course. Good luck trader's and may this week be profitable for you all. 🙂 If you found value in my analysis dont forget to hit the like, it's much appreciated.
Just listening to my chart here and also thinking about lockdowns and their impact on crude oil consumption I use 4 take profit levels. When first take profit is taken I simply move the stop loss to zero (entry) and wait to take another 3 take profits lower, if possible.