Get started

Petrol

Demnd Issues Hit OilOil had a brief attempt at a rebound in the 70 handle, before crashing right back down to the 60's. We alerted you yesterday that the relative low was somewhat auspicious at 67.91. This is exactly where we are hanging on by a thread at the moment. The Kovach OBV is solidly bearish, and fears over the Omicron variant have weighed on demand considerations. If we break down further into the 60 handle, then 66.77, 66.00, and 65.61 should provide support. If we see a rally, then 72.99 is the level we need to break before we are able to claw back the 70 handle.
NYMEX:CL1!
by quantguy
1
Oil Testing Lows Again, What to Expect??Oil is pressing lower of reports of increased supply and weaker demand. We are currently testing a very important psychological and technical level at 80.00. We are seeing several green triangles here at 80.00 which is suggests strong support. If we are able to break down from here, then there is a vacuum zone below to 77.56. We have several technical levels above including 80.70, 81.30 and 82.13 which will all be targets if we can get a lift from 80.00. The Kovach OBV is pretty flat, so we will need to see momentum come through either way to determine oil's next move.
NYMEX:CL1!
by quantguy
1
Oil Finds Strong Support at $80Oil dipped, breaking a key support level at 80.70. We saw further support (confirmed by a green triangle on the KRI) from 80.00, however, and have rebounded back to the 81 handle. We appear to be making a run for the next level at 82.13. The Kovach OBV has dipped sharply, but has since picked up to reflect the support. If we can break past 82.13, we will return to a previous value area, and 83.21 would be the next target after that. Further momentum would bring us to the vacuum zone back to highs at 85.55.
NYMEX:CL1!Long
by quantguy
1
Oil Continuing to RangeOil has retraced from just below highs at 85.55 to seek support at 82.13. This is exactly what we anticipated would happen. We are just past the 50% retracement between highs and the lower bound of the range at 80.70. Several green triangles on the KRI suggest that support will continue, and we will level off. If not, expect further support at 81.30, then 80.70. The Kovach OBV is oscillatory, which is to be expected as oil appears to be exhibiting a broad sideways corrective wave to the overall bull impulse wave which brought us to the 80's in the first place. Anticipate another run for 85.55 if the bull trend picks up again.
NYMEX:CL1!
by quantguy
1
CRUDE OIL : DOWNTREND | FIBO PULLBACK ON 61.8% | FALL SHORT 🔔The technical view show how the value of crude oil is within a Bearish channel where the price has found two obstacles: The dynamic resistance of the bearish channel and the Fibonacci retracement 61.8%. The stochastic is in overbought with divergence and the volumes decrease, followed by a red candle that today breaks the moment of sydeways started on August 21st. Check the Links on BIO and If you LIKE this analysis, Please support our Idea by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
NYMEX:CL1!Short
by FOREXN1
8
CRUDE OIL/USOIL:PRICE ACTION ANALYSIS|DOWNTREND|SHORT SETUP 🔔Welcome back Traders, Investors, and Community! Check the Links on BIO and If you LIKE this analysis, Please support our Idea by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
TVC:USOILShort
by FOREXN1
10
OIL - 100$ coming faster than anticipated? ⛽Opec meeting is on and increasing the production is on the agenda? Why? Well most likely increased demand. But electric cars are the future. Yes they are but that doesn't mean the price now needs to go lower because of this fact. On the contrary possibly. Chart shows price over major resistance and on support with potential to fly to the 100$ mark this summer. Also: we probably need to add the factor of inflation in the mix. What do you guys think? the FXPROFESSOR
TVC:USOILLong
by FX_Professor
2
Keep on Watchlist.Please note this is only an idea, invest at your own risk. Currently sitting/fighting a key level of resistance/support at around 31/32. I would like to see it form a good base and stabilize around this level. If it surpasses next resistance of previous swing high, at around 34, then I would consider it a good entry point up until 40. The opening of the economy and summer might have a positive influence on it, so expect moves around these key levels within the next few weeks. Happy to get feedback on my idea.
NYSE:SLB
by contador7