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Crude Oil Brent

WTI oil - Global oil demand is set to fall with deeper recessionIn the recent past, we abstained from setting price targets for the short and medium term. Meanwhile, we became focused on the long-term price target of 70$, which stays in place as we continue to be bearish on USOIL. Our view is based on the deepening recession and falling oil demand. Yesterday, the IEA Executive Director, Faith Birol, said in his interview with Bloomberg during the COP27 summit, "The recent decision of OPEC+ to cut the production by two million barrels a day was definitely not helpful." Additionally, he said that this move by the cartel was fueling inflation in developing countries and may require a "rethink". If his words come true, the world could see temporary stabilization of USOIL prices between 80$ and 90$. However, all depends also on Joe Biden, who currently does not support more drilling activity. Since the stance of the U.S. administration might quickly change (with an even deeper recession and end of midterms) and send prices much lower, we pay close attention to the energy dispute between the U.S. and OPEC. Technical analysis - daily time frame RSI, Stochastic, and MACD show signs of exhaustion. DM+ and DM- are bullish but due to cross each other. Overall, the daily time frame is neutral. Illustration 1.01 The image above shows the hourly chart of USOIL and simple sloping support/resistance levels. Interestingly, the immediate sloping support was broken to the downside, which is bearish. Technical analysis - weekly time frame RSI and MACD are neutral. Stochastic is bullish. DM+ and DM- are bullish. Overall, the weekly time frame is neutral. 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. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
14
CRUDEHello and welcome to this analysis UKOIL formed a Bullish Harmonic Gartley near $83.50 in weekly time frame and reversed from there. In the last few weeks after its 1st round of reversal from the Gartley PRZ it has formed a Cup pattern (rounding bottom) in daily time frame indicating a breakout above $98.50 for $106. While CRUDE OIL at MCX has formed an Inverse Head & Shoulder pattern in daily time frame indicating a breakout above 7700 for 8200 and 8800. The movement in MCX Crude will largely be impacted by US$-INR also, keep in mind that factor also.
TVC:UKOILLong
by Dinesh_C_Nagpal
MarketBreakdown | WTI OIL, NZDUSD, US100, EURJPY Here is a brief technical outlook for 4 instruments in my watch list. 1️⃣ WTI Crude Oil 🛢️ After a long-lasting bullish accumulation within an ascending triangle, the market broke its resistance on Friday. It looks like the market will keep growing. 2️⃣ NZDUSD 🇺🇸🇳🇿 The pair is very bullish since the middle of October. The price is currently approaching a local high. If the market breaks and closes above that, a bullish continuation will be expected to 0.6 level. 3️⃣ US100 (NASDAQ) Index 📈 After a three-weeks-long consolidation within a horizontal range, the market broke its support to the downside and closed below that. Now the market is retesting that. I believe that a bearish move will initiate soon. 4️⃣ EURJPY 🇪🇺🇯🇵 The pair is very close to a recently broken major rising trend line. With a high probability, we will see a bearish reaction from that, Pay close attention! Do you agree with my market breakdown? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:USOILLong
by VasilyTrader
12
USOIL 1st NOVEMBER 2022US President Joe Biden will ask oil and gas companies to invest some of their record profits in lowering the cost of living in the country. Biden will ask Congress to consider requiring oil companies to pay a tax penalty. Biden has previously encouraged oil companies to increase production rather than use profits for share buybacks and dividends. The government is also relying on releasing supplies from the Strategic Petroleum Reserve (SPR) to ease the supply crisis.
TVC:USOIL
by DNP-FX
$WTI #USOIL Can Start To Rise Further, Can Go ParabolicTraders, USOIL has been rising after hitting our FCP zone as below. If 2 conditions of this set up are satisfied, it can start rising parabolically towards 100 again where we have an unfilled gap too. Manage the risk though! Aug 21: September 26: Please support this analysis by liking and sharing. 👍🙂 Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
TVC:USOILLong
by vikinsa
2
XAUUSD : IMPORTANT TA , READ the CaptionGOLD UPDATE : Still on the gold chart, I specified my opinion is still Bearish and its possible targets marked on the chart! Please note that today, as it is the first day of week, the market does not follow a particular trend, but the important levels mentioned in the current and previous analysis are valid! Previous Analysis : By examining gold in the 4-hour time frame, you can see that the price finally managed to hit all its important upward targets (Final Result is +520 Pips ✅) , and by collecting liquidity above $1668, it faced heavy selling pressure and corrected to $1644! According to the price trend, I expect further correction, and according to the analysis of the previous week, the price may soon move towards the liquidity pool of SELL STOPS below the price of $1615, if this happens after collecting liquidity below this level. We will probably face a temporary price pump, the range of this liquidity pool is from $1615 to $1606! The new Bullish Order Block is in the range of $1617.5 to $1627.5! Follow me for more analysis & Feel free to ask any questions you have, I'm here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 10.24.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
OANDA:XAUUSDShort
by ArmanShabanTrading
47