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Crude Oil Brent

CRUDE OIL (WTI) Important Update 🛢 As I predicted, WTI Oil dropped nicely yesterday. The price formed a head and shoulders pattern. To catch a bearish continuation, watch 100.3 - 102.0 horizontal neckline. We need a 4H candle close below that to confirm the breakout. Then, shorting on a retest, a bearish continuation will be expected to 97.2 level. If the price sets a new high, the setup will be invalid, though. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
3
CRUDE OIL (WTI) Very Bearish Outlook 🛢 WTI Crude Oil retraced to a peculiar zone of confluence on 4H: we see a perfect match between a horizontal structure and 618 retracement of the last bearish impulse. Reaching that structure, the price broke a support line of a rising wedge pattern on 1H. I expect a bearish continuation now. Goals: 101.93 / 100.0 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
9
⭐️BRENT: medium/long term view➡️ The oil market is dominated by panic about the fact that supposedly the price of raw materials expects a significant fall. The G7 countries are trying to limit the transportation of Russian oil if it is sold at a price above the limit. The head of the European Council, Charles Michel, said that the EU countries would be ready to introduce such a measure after they were convinced that it would negatively affect Russia, and not themselves. And it is very likely that this will be the case. In addition, one should not forget about India and China, which were not "specially" asked about such a proposal for Russian oil . China and India may thwart G7 plans to impose price caps on Russian oil . The idea of ​​the "Big Seven" may have a negative impact on global energy markets. On July 3, the New Jersey edition, citing American expert Patrick De Haan, reported that the G7 idea to limit oil prices from Russia seems illogical. According to the expert, the G7 statement can only aggravate the situation and push oil prices up. Fundamentally, the conclusion is that the current actions taken on the political map by the major powers are more likely to drive up commodity prices. However, it is not worth expecting an oil price of $350 as suggested by JPMorgan Chase analysts. This forecast is inadequate (according to the author). The level of $140 is considered to be an adequate forecast for oil , as the same Goldman Sachs analysts stated. Technically, the price is in the area of ​​strong support $97.63-$103.33 . The first target for growth is at $103 , from there buyers will attempt to return to the descending channel , after which growth to $110, $115 should be expected. Medium and long-term targets are located at the levels of $120 and $130 . The negative point will be fixing the price below the $97.63-$103.33 area, however, in this case, given the current military-political situation, fundamental analysis can reverse the trend in one second. ➖➖➖➖➖➖➖ 👍 Thanks for your comments and likes 👍 👇🔥 LINKS TO PREVIOUS IDEAS AND FORECASTS 🔥👇
TVC:UKOILLong
by TradePlus-Fx
12
WTI oil - 100 USD in sight Over the past two months, we expressed our belief that the oil bull market was peaking. Indeed, we previously set a short-term price target for USOIL at 100 USD, medium-term at 95 USD, and long-term at 90 USD. Despite wild price swings up and down, we stayed bearish, and we continue to maintain this stance also today. Therefore, we have no reason to change our price targets. Illustration 1.01 The picture shows bearish breakouts below the trendline. Technical analysis - daily time frame RSI, Stochastic, and MACD are all bearish. The same applies to DM+ and DM-. Overall, the daily time frame is bearish. Illustration 1.02 The illustration portrays the daily chart of USOIL. First, the price can be seen dropping below the 20-day SMA, which is bearish. Then, after a new low, the retracement toward 20-day SMA acted as a downtrend correction. Currently, we will watch out for a bearish crossover between 20-day SMA and 50-day SMA. Technical analysis - weekly time frame RSI and Stochastic turned bearish. MACD also turned bearish, but it still stays in the bullish territory. DM+ and DM- remain bullish. Overall, the weekly time frame is turning bearish from 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. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
25
USOIL 6th JULY 2022USOIL fell below USD 100 as recession fears grew, fueling concerns that the economic slowdown would cut demand for petroleum products. In the macro trend, oil tends to be bearish. By the end of this year if the economy is heading into a recession. In a recession scenario with rising unemployment, bankruptcy of households and firms, commodities will chase a downward cost curve as costs deflate and margins turn negative to encourage supply curbs. However, the decline in oil prices will actually benefit manufacturing companies. They will take cheap prices for supplies, after 2 quarters of prices soaring. USOIL D1
TVC:USOIL
by DNP-FX
8
Oil Futures Settle Lower On Demand WorriesDespite concerns about a potential recession, oil prices were still around $114 a barrel today as supply concerns outweighed concerns about a potential decline in demand. In the latest developments, workers in Norway went on strike, which is expected to cut the country's oil production by around 130,000 barrels a day. Despite the global economic recovery, oil prices are still up more than 50% this year as the conflict in Ukraine and the lack of supply from other producers such as Russia have raised concerns about the supply of oil. OPEC+ has also been struggling to boost its production due to various factors. In addition, the Federal Reserve's aggressive monetary policy has also triggered a sell-off in commodities. Investors are also closely monitoring the situation in China, where the country is still experiencing sporadic outbreaks of the virus.
TVC:UKOIL
by bbitar
#BRENTCRUDEOIL Still making higher lows within triangleIts no surprise anymore that OIL and energy stocks have been one of the only places to find some alpha this year. Even with oil taking a bit of a beating lately, looking at the technicals we are still in a very healthy shape for the time being with Brent Crude making higher lows within this triangle formation and well above its ascending 200 day moving averages. Until this breaks down, you have to give energy the benefit of the doubt to run higher this year..
TVC:UKOILLong
by MarcoOlevano
UKOIL H4 Potential bearish dropOn the H4, with price the break of the ichimoku cloud , we have a bearish bias that price will continue to drop from our entry at 106.82 in line with the horizontal swing low resistance to our take profit area at 101.22 in line with the horizontal swing low support. Alternatively, price may reverse off and rise to our stop loss at 112.04 where the 23.6% fibonacci retracement is. Take note we are waiting for the break of our entry area to confirm the bearish momentum. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
TVC:UKOILShort
by VantageMarkets
USOIL 30th JUNE 2022The Organization of the Petroleum Exporting Countries and allied producers are expected to confirm as a mere formality their decision to expand oil production by 650,000 barrels per day in July and August. The OPEC+ group of producers including Russia, began two days of meetings on Wednesday, though sources said there was little prospect of agreement to pump more oil. The net drop in crude oil inventories was flattered by SPR (Strategic Petroleum Reserve) releases, while the gasoline stock jump is because U.S. refineries are running at over 95% capacity
TVC:USOILShort
by DNP-FX