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Opec

WTI Crude oilCrude oil inventories have the sharpest decline in 8 months. With a forecast of 0.309M barrels of Crude Oil Inventories the actual figure was -9.589. On top of the dollar weakness this has caused WTI oil futures to jump above 60$. Oil is trading above the 200EMA which will act as a strong level of support. Fundamental news that are affecting the price of oil is the fact that Russia and OPEC are doing so much to decrease output throughout the world. According to OPEC+ member countries are going to reduce the output of oil by 1.2 million barrels in 2019. Also, the cartel cancelled its meeting in April, meaning that they will keep these production cuts all through the slow season of summer up until June, when they will decide future action. We believe that OPEC and its allies will keep this policy all the way through the year. A possible entry point for long position presents itself if price will dip down to the level of the 200EMA at 58.73. Entries can be made as low as 58.00 with stop losses located below 57.25.
FX:USOILLong
by YaroslavBirchenko
US Oil: Week 11 Kick OffHi Guys, Last week US Oil broke higher above the latest Trump's tweet with a run started on Wednesday. Price consolidated above Trump's tweet level with a triple bottom support throughout Thu, Fri and this morning before resuming the run pushed by the 90SMA. TO NOTE: RSI spiked briefly above 70 but lower than previous highs. Price instead kept going higher. IMHO bullish momentum may push up to 60 if sentiment picks up above 70 again shortly. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
TVC:USOIL
by cozzamara
US Oil: Week10 updateHi Guys, the arm wrestling between Trump vs OPEC shifted in favour of Saudi Energy Minister Khalid al-Falih in mid-Week10. The barrier that Trump tried to build with his tweet has been broken and sentiment is now heavily overbought. The rally was triggered by remarks by U.S. special envoy Elliott Abrams that Washington planned “very significant” further sanctions on Venezuelan oil and boosted by the Crude Oil Inventories report. Also last week output was adjusted lower and U.S. crude production expected to grow more slowly in 2019 than previously forecast. Add all togheter = Oil prices go higher. Next the publication of monthly oil market reports from both OPEC and the International Energy Agency on Thursday and Friday. TIP: I read somewhere that the Canadian Dollar follows quite well Oil's move. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
TVC:USOIL
by cozzamara
Oil starting to look exhausted...Here we are tracking a large swing to the downside in oil. I would like to fade the highs here and target the range lows (see attached idea for those wanting to target 45 in the coming months). This idea is for the coming sessions as crazy as it sounds, we have some monster moves coming on the demand side. The ECB confirmed the slowdown is real and the FED are going to continue the dovish tone meaning we have all the cards we need on the monetary side. You may also see it wise to simply sell a break of the red trend line. Stops clearly marked above the highs at 58.30 whilst targets sit below at 55.4 and 52.9. Thanks and best of luck.
TVC:USOILShort
by ridethepig
Oil: Week9 UpdateHi Guys, Monday and Tuesday it tried to move higher but was kept under the 195SMA. Wednesday tried to move higher but again failed and now the 75SMA could push it towards 55.67 level. If 55.67 level is breached Oil may dip to 55. Let's wait & see. Thank you for your support and for sharing your ideas. Don't forget to like if you like the post and to follow if you want to receive notifications on new or updated ideas. Respect, Be Carefull and Enjoy:) Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
FX:USOIL
by cozzamara
US Oil: week 9 kick offHi Guys, ...last Friday US Oil hit 58 level again after Trump's tweet but also dropped again to find support higher than previous one at 55. Price may be entering an horizontal complex correction period between those bounderies (H58-L55) made of a combinations of double and triple threes. Strategy: Wait & See if the SMA pushes for a potential BC leg of a Zig-Zag attacking 55. An attack to 58 may be possible too if it crosses the SMA but it will depends on momentum and other external factors (i.e. USD/JPY, DXY, economic datas release, news). Thank you for your support and for sharing your ideas. Enjoy:) Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
FX:USOIL
by cozzamara
LOONIE Looking To Hit 1.29000 Level. OIL The Main Driver!Oil is the main driver behind the CAD pairs and with the OIL market slowly recovering aided by the sanctions on Venezuela's OIL exports by the US and the cooperation among the OPEC AND NON-OPEC Producers. Many see the OIL market recovering in the near term and to further strengthen the technical picture, there is an already completed head and shoulders pattern on the US OIL chart. The greenback has started this year strongly but with FED pausing the rate hikes and thinking to start unwinding of their balance sheet later this year gives the USD modest strength to perform this year. However if compared to LOONIE, the greenback is not that strong based on fundamental picture for time-being. Looking at the main chart for the USDCAD pair, the weekly timeframe has confined the price to a long term trendline. Should the weekly trendline break together with weekly 50 EMA the price will likely be heading to test the lower trendline present at around 1.29000 level! Shall the criteria meet, i will update the trade details in a new thread. this just represents my analysis on this current pair. cheers
Short
by FX618Analysis
Oil is gonna make a run for itOil climbed, and broke through the neckline of the reverse head and shoulders pattern that has been in play for the past few months. The growth was due to supply cuts and reduced output from OPEC countries. Russia has also agreed to participate in the cutbacks. Saudia Arabia will be repairing a damaged offshore field, and this will decrease supply and increase the price of oil in the week to come. In total oil rose 4.2% the past week. Gains are being stifled by a few factors as well. US inventories are rising, the global slowdown is decreasing demand, and US output is at a record high. To counterbalance this Chinese imports of oil are rising by about 4.8% each quarter for the past three quarters. Starting on the week of February 18th China-US trade talks will continue in Washington as the leaders of both nations will sit down to reach an agreement before March 1st. Also the US may put sanctions on Venezuelan exports and further decrease world supply. So long as WTI stays above 54.00 we see a bullish play in motion. If and when oil breaks through the Fibonacci resistance level of 38.2% at the price of 55.63 we will see the biggest spike up. The next level of resistance is the 200-EMA. The first strong target of the bullish movement is 57.34 and the next target is 59.00.
FX:USOILLong
by YaroslavBirchenko
no major movement ahead for oil at least in first half of 2019I think the supply side for oil will be abundant, considering the fact the tepid world economy will not consume as much oil as the last decade. growth prospects of major economies looks dim except the US. Many institutes has trimmed down GDP growth rates in the last two month, citing significant headwinds for the world, like debt, trade disputes, geopolitical uncertainties and so forth.OPEC has every intention to reach a production cut deal for its members. Yet it can't control the behavior of non member states, especially the United States, which is the biggest producer in oil and gas and has become a net exporter. By cutting production, OPEC members probably will lose market share to other big players in export market.
ICEEUR:BRN1!
by Pento_Investment
Possible Scenarios for OILWelcome to this MONTHLY chart showing possible scenarios over the next years, after OIL has bounced once again on the level of $50 in the past months potentially taking us higher near term up to $70. Let us now depict the possible scenarios out of this market, with the conditions that would trigger any of them and some arguments supporting each. The first thing to consider, is that after the bounce at $50 and its current positive trend, it would be very likely that the levels of $70 could be tested before the end of 2019. Given the recent US sanctions against the Venezuelan government, affecting the OIL supply coming from that country, prices might see an immediate fuel until $70 levels are tested. However, if the level of $70 is reached it might be wise to consider that this level has acted before as a resistance and act carefully then. Would see a good long trade only if this level is surpassed, where we could expect prices reaching up to $84 until 2021, where the the next possible resistance is located. Now, given that Oil has seen the surge of Shale Oil increasing the supply in the market, and the fact that at these price levels Shale is pretty much profitable, we could see a downward bounce on the levels of $70, back to $50 by 2021. An added pressure to the downside would be a production adjustment from OPEC, as well as the world's efforts to increasingly develop renewable energy supply around the globe, which would affect the demand for oil in the long run. If we see carefully, a possible head and shoulders could be formed by the fractal formed if the price bounces back from $70, resulting in prices below the level of $50 after 2021. Well, there they are. Two possible scenarios. Upvote if you liked it!
OANDA:BCOUSD
by TradeSniperAI
Is the oil uptrend here to stay? Oil has been on a tear thus far in 2019 and I expect nothing short of a full fledged rally should we break above $58. The weekly and monthly time frames look very bullish, as there's no clear supply levels to overcome. I expect oil to be one of the best performing investments of 2019. With that said, oil is considered extremely volatile and very contingent on geopolitical affairs. A break below $50, and we could witness a drop to the $45 zone. The two biggest fundamental factors driving price action right now is the political turmoil in Venezuela and OPEC's ongoing production cuts.
FX:USOILLong
by en1gm9t-c
Crude: Long first, then SHORT !The slowdown in the world economy, especially the Chinese one, which is the country with the highest demand for fossil fuels, will have a negative impact on stockpiles, dropping the price considerably. Institutional investors, and not, have started to bet downwards on both WTI and BRENT and it is very likely that this rebound is due to profit taking only. Moreover, to weigh on this scenario there is the choice of the United States to increase the extraction, compromising this sort of very unstable equilibrium that are trying to create the OPEC countries on a production reduction pact that seems to be compromised. Summing up, in the medium term we expect another descent with a target of $ 40. In the very short term, however, the situation is different: at the technical level it has broken the dynamic resistance identified by the EMA20 daily and is aiming the next, most important, EMA200, placed about 5 dollars above the ema20. In the very short / short period, we expect to reach the $ 60 area.
NYMEX:CL1!Long
by BFCMInvest
Clear Divergence formed, Strong Short Market SentimentU.S. stock futures declined with equities in Asia amid a potential escalation of tensions between Washington and Beijing, and after signs China’s economy remains under pressure. Treasury yields extended last week’s retreat and the dollar fell. Oil in London extended its gains near $62 a barrel after OPEC and its allies agreed on production cuts and protesters forced the shutdown of Libya’s biggest crude field. This summed up market direction till the end of this quarter. Happy trading folks. Manage your risk wisely. Bloomberg, 10 December 2018 www.bloomberg.com www.bloomberg.com
Short
by FXtremist
OIL; The Black GoldTechnology are now rising to a greater extent. Thus energy company are now shifting to renewable energy even greater. Usage of electrical devices is a necessity nowadays, with vehicle, public transportation are developing energy-efficient engine that drive their work. It is believe that price will went up eventually, before thrives downward as future minds are becoming aware of pollution and ecosystem. However, please watch price action and economic news on OPEC countries decision before we decide to ride on trades. Trade well, risk less. TAYOR
TVC:USOILLong
by FXtremist
WTI LONGOPEC and allies agree to cut oil production by 1.2 million barrels per day Major oil producers have reached a deal to cut oil production and boost the market. The alliance will to take 1.2 million barrels per day off the market. OPEC has agreed to exempt Iran from cutting production, Iranian Energy Minister Bijan Zangeneh said On a technical perspective we reached a nice mirror level and we are likely to see a push back to recent highs or a creation of a higher high.
TVC:USOILLong
by lebonefx
USDMXN: Topped as per the weekly timeframe...I think the Peso will regain strength over time from this juncture. The weekly Time@Mode trend signal we had here expires next week but price already seems to be trending down in the daily timeframe, and broke a previous weekly low, so I think we're safe to assume the decline started already. The G20 talks and oil related news might be behind the strength in commodities, EM currencies and weakness in the dollar. Either way, I'd like to have some exposure to oil and gold, at the very least, but also look into agricultural futures and related stocks, since the trade truce signaled strength might be seen in these markets. Another interesting market to monitor is tech, in particular $QCOM in the event of a merger...I'll be watching $SPY, since I fear it is a bit stretched, and might go back down, if it's still range bound and not trending. Cheers, Ivan Labrie.
Short
by IvanLabrie