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Crude Oil Brent

CRUDE OIL (WTI) Multi Time Frame Analysis & Technical Outlook 🛢 Hey traders, WTI crude oil is steadily growing within a rising parallel channel. The price is coiling around its resistance for the last two weeks. Analyzing the reaction of the price to that structure, I spotted a peculiar horizontal range on 4H. 116.6 - 118.0 is its support. Wait for its bearish breakout as your trigger to sell. Then a bearish continuation will be expected to 112.4 If the price breaks the resistance of the range, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
8
Crude OIL (XTIUSD) AnalysisTechnical Facts: Considering Technical analysis, Crude Oil already touched the second highest price in this week. now it’s high time for retrace. The Immediate support level is 117.80 to 118.20. A Strong break can lead the oil price till 114.18 which is the strongest support of 114.18. Fundamental Facts: Russia is one of the largest producer of Crude Oil in the world. a recent ban was imposed on Russia in 3rd June, 2022 by European Union. When supply decreases, demand increases and the price goes up. if EU cant convince Saudi Arabia to produce more oil and make a balance of the demands, the price might go up till 130 as well. therefore, the analysis might be invalid. Signals: CRUDE OIL SELL STOP 117.80 SL# 119.61 TP# 114.18
FXOPEN:XTIUSD
by ForexLab
UKOIL H4 Potential Bullish rise With price moving in an ascending channel and in an uptrend, we have a bullish bias that price will rise to our take profit area of 125.07 in line with the horizontal swing high resistance. We are currently waiting for the confirmation of further bullish move with the break of our 38.2% Fibonacci retracement and horizontal pullback resistance at 121.70. Alternatively, if price does not break, we are expecting price tp head for our stop loss at the 50% Fibonacci retracement and horizontal swing low support at 118.93. 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:UKOILLong
by VantageMarkets
USOIL 14th JUNE 2022Before July, USOIL was seen moving in the consolidation channel area which tends to be bullish. in July, USOIL sentiment will tend to be bearish. The Organization of the Petroleum Exporting Countries (OPEC) member states announced plans to adjust oil production upward in July by 0.648 million barrels per day at the 29th OPEC and non-OPEC Ministerial Meeting on June 2, reports the organization’s press service. US President Joe Biden has repeatedly appealed to Saudi Arabia to increase its oil output without success. UK Prime Minister Boris Johnson also asked Saudi Arabia and the United Arab Emirates to boost production. He too was rebuffed.
TVC:USOIL
by DNP-FX
5
UKOIL H4 Potential BounceWith price moving above the ichimoku cloud , price is expected to rise to our entry at 119.04 in line with the 50% Fibonacci retracement and horizontal swing low support to our take profit area at 127.10 in line with the127.2% Fibonacci extension. Alternatively, price may break entry structure and head for our stop loss at 113.41 in line with the 50% Fibonacci retracement and horizontal swing low support. 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:UKOILLong
by VantageMarkets
OIL WONT BE COMING DOWN ANYTIME SOONThe war in Ukraine caused a chain reaction in lifting energy and commodity prices, following the decision of the West to reduce and eventually ban Russian imports of crude oil, natural gas, coal and a number of other raw materials. As a result of this, there continues to be a shortage in oil supply in the global markets. The fact that there is underinvestment in this sector and falling inventories continue to allude to a tighter market in general. Throw in the fact that Russia supplies are being phased out with little to no immediate substitutes, the tighter market outlook is going to stay for longer. The capacity shortage and the fact that OPEC+ is also not doing much more than they are now isn't going to help alleviate sentiment on that front either. Significantly higher prices of energy and raw materials caused a rise in prices of final products that contributed to the second cause of rising inflation – cost-push inflation, while the strong rise in prices, accompanied by persisting supply disruptions, resulted in the shortage of products that pushed their prices higher and pointed to the third cause of strong prices growth – demand-pull inflation. This sparked a rise in food prices, electricity and many other essential items that contributed to the enormous increase in the cost of living, further pressuring households and businesses. The West is working with Venezuela and Iran to bring back their oil to the global markets to boost supply but after Iran turned off 27 cameras of the International Atomic Bomb Agency, which monitors compliance of uranium-rich countries to a peaceful application of nuclear energy to promote peace, health and prosperity, it looks unlikely that a deal with Iran will be reached soon. Barclays, Goldman Sachs, Citibank and other major banks forecast that oil will likely break its all-time high price of $127 per barrel on 8th March, 2022 and rise towards $135 per barrel. So brace yourselves folks as we ride this oil roller coaster.
FXOPEN:XTIUSDLong
by Joshua_Naabu
UKOIL buy signal done by SWOF trading System for a SWING tradeUKOIL buy signal done by SWOF trading System for a SWING trade on 4H UT Step 1: buy @ 116.8 and stop loss @ 112.5 Step 2: if we reach target 1 we move up stop loss to price entery @116.8 Step 3: if we reach target 2 we move up stop loss to target 1 level Step 4: if we reach target 3 we move up stop loss to target 2 level step X: we repeat process of this trailing stop until we are stopped... have a good trade.
TVC:UKOILLong
by SWOF_Invest
OIL H4 Potential Bounce | 9th June 2022On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 121.15 where the horizontal pullback support is to our 1st resistance at 125.53 in line with the 78.6% fibonacci projection and 161.8% Fibonacci extension. Alternatively, price may break structure and head for 2nd support at 117.76. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NYMEX:CL1!Long
by Rockqet
UKOIL, H4 Potential bullish continuationWith price moving in an ascending channel and above the ichimoku cloud, we have a bullish bias that price will rise to our take profit are where the 127.2% Fibonacci extension and 78.6% Fibonacci projection is from our entry. A further confirmation is to wait for price to break the 61.8% Fibonacci projection and horizontal swing high resistance for the buy entry. Alternatively, price may head to our stop loss where the pullback support is. 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:UKOILLong
by VantageMarkets
UKOIL, H4 Potential for Bullish MomentumWith price expected to bounce off our entry which lines up with the 38.2% Fibonacci retracement and ichimoku cloud support, we have a bullish bias that price will rise to our take profit area of 123.6 in line with the 61.8% Fibonacci retracement. Alternatively, price may break structure and drop to the stop loss at 112.71 in line with the horizontal swing low support and 61.8% Fibonacci retracement. 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:UKOILLong
by VantageMarkets
UKOIL H4 Potential Bounce | 3rd May 2022With price in an uptrend and abiding to our ascending channel, we have bullish bias that price will rise to our take profit area of 123.54 in line with the 61.8% Fibonacci projection and horizontal swing high resistance from our entry of 116.81 where the horizontal swing low support and 23.6% Fibonacci retracement is. Alternatively, price may hit stop loss at 113.35 in line with the horizontal swing low support. Our bullish bias is further supported by how price is moving above the ichimoku cloud. 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:UKOILLong
by VantageMarkets
WTI oil - The uptrend in oil continues to peakExactly one month ago, we stated that the Russian oil ban would lead to an uptick in oil prices. Since then, the European Union has started to take measures concerning its oil dependence on Russia. Meanwhile, WTI oil has risen from 106 USD up to 114 USD, where it trades currently. Despite being bullish in the short-term and medium-term, we also stated (in our previous posts) that we expected the bull market in oil to peak; in addition to that, we set and maintained our long-term price target for USOIL at 90 USD. That also applies today, and we still keep this target. Fundamental factors Our bearish view is based upon several fundamental factors. Among these is the prospect of higher output by the OPEC in the second half of 2022 and the global need for lower oil prices. We expect the U.S. to put pressure on OPEC; there is already a rumor Joe Biden is supposed to ask Saudi Arabia to lower its output. Another fact we consider is that despite the Russian oil ban, new highs were not reached by USOIL. Illustration 1.01 USOIL appears in the downward sloping channel. The breakout above it will suggest more bulishness in the short term. The channel is Technical analysis - daily time frame RSI and Stochastic are bearish. The same applies to MACD; however, it remains in the bullish territory. DM+ and DM- are also bullish. Overall, the daily time frame is bullish; however, certain technical and fundamental developments raise caution. Illustration 1.02 The picture above shows simple support/resistance levels. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- remain bullish. Overall, the weekly time frame is 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 serve as 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
12