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Crude Oil Brent

CRUDE OIL (WTI): Technical Outlook & Trading Plan 🛢 Crude Oil is currently testing a solid horizontal supply area on a daily. Analyzing a 4H time frame, we can spot that the market is currently weak & consolidating. I see an example of a classic inside bar formation. 71.4 is the lower boundary of the range of the mother bar. Its breakout - a 4h candle close below will be a strong bearish confirmation. A bearish movement will be anticipated to 70.1 level then. Alternatively, a bullish breakout of the underlined resistance will push the prices higher. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
8
US Oil ~ Macro Headwinds > Market Intervention (1H)TVC:USOIL chart mapping/analysis. Crude Oil reversing all gains manufactured by OPEC+ production cuts & Middle-East conflict premiums, while threatening to further capitulate due to growing macro headwinds leading into 2024.. Trading scenarios into EOY: Bullish resurgence = rally above horizontal resistance line (yellow dashed) into 23.6% Fib & upper range of descending parallel channel (white) / re-test ascending trend-lines (green dotted) confluence zone. Bearish continuation = break below previous low (~68.80) towards ~67 horizontal line (yellow dashed) / descending trend-line (light blue / lower range of descending parallel channel (white) confluence zone. Neutral scenario = further sideways chop until next OPEC+ catalyst / key macro economic development.
TVC:USOILShort
by BlueHatInvestor
🔝 US Gas prices become more affordable as key breakdown is hereAmericans could breathe a sigh of relief with gas prices set to be more affordable this year. US gas prices hit their highest 52 Weeks in August and September ahead of Labor Day, with the national average standing at $3.82 a gallon FRED:GASREGW , per AAA Gas Prices . Gasoline prices hit summertime levels in over a decade even as the driving season comes to a halt, as a result of rising crude-oil prices TVC:USOIL driven by production cuts. Brent crude TVC:UKOIL , the international benchmark, jumped to $90 a barrel earlier is September for the first time in 2023 after both Saudi Arabia and Russia extended oil production cuts of 1.3 million barrels a day through December 2023 in a bid to maintain price stability. Higher US gas prices NYMEX:RB1! are a problem for the Federal Reserve, which has been trying to tame historically high inflation. The central bank has already hiked interest rates ECONOMICS:USINTR by more than 500 basis points since March 2022, helping lower the pace of consumer-price increases to 3.2% in July from last year's highs above 9%. But the jump in fuel prices is threatening to derail the progress the Fed has made in taming inflation. As a result, just after September, 2023 FOMC meeting market participants are waiting one or maybe two dovish Fed's Rate price actions in 2024. At the same time before September, 2023 Federal Reserve meeting, market expectations were about three cuts, near to four. (up to 100 b.p.). Meanwhile juts a take a look what technical picture in RBOB Gasoline futures RB1! price says. Near the middle of August, 2023 Gasoline futures prices turned massively down, due to seasonal backwardation in RBOB futures contracts, where autumn RBOB futures contracts are usually to be trade lower vs. summer RBOB futures contracts. Moreover, in the last day of Q3'23 RBOB futures price turned firmly lower, breaking down the major trendline support that was actual all the time from disinflationary Covid-19 era. Moreover weekly SMA(52) is broken down also. In a conclusion, I have to say that retail gasoline prices are usually to follow the major trend, within one or up to two months.
NYMEX:RB1!
by PandorraResearch
Oil: Head & Shoulders Pattern,Heading Back to the $60 Territory?Hi Fellow Realistic Traders. Here's my latest price action analysis on Oil! The oil market has recently witnessed a significant head and shoulders pattern breakout, signaling a clear shift towards a bearish reversal scenario. Subsequently, the price has persistently descended below the EMA200 line, affirming the establishment of a robust downtrend. Further underscoring this trend, the Stochastic indicator revealed a bearish divergence, suggesting a potential sustained downward movement towards our target area. It is essential to note that the analysis will no longer hold validity once the target/resistance area is reached. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on $UKOIL."
TVC:UKOILShort
by financialfreedomgoals101
4
USOIL nears $70 per barrel The price of USOIL is edging toward $70 per barrel, which is our price target for 2024. However, it is becoming increasingly possible that we will see this price taken out even by the end of the current year. With that said, we want to raise another price target for the next year, valued at $65 per barrel. Illustration 1.01 The monthly graph above shows the U.S. crude oil production. From the start of 2023 until September 2023, U.S. crude oil production rose by more than 770,000 barrels per day, which amounts to about 6.2% (since last year’s highs, the production is up more than 13.5%). Illustration 1.02 Illustration 1.02 depicts the monthly chart of the U.S. total rig count. Interestingly, since September 2023, the total rig count stopped declining. Technical analysis Daily time frame = Bearish Weekly time frame = Slightly bearish 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 or any other entity. Your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
8
CRUDE OIL (WTI) Bearish Trend Continues 🛢️ Crude oil is trading in a bearish trend on a daily. After a long-lasting consolidation within a horizontal range, the market violated its support on a daily and set a new lower low. Retesting the broken structure, the market started to coil within an intraday range. Its support breakout gives us a strong intraday confirmation. A bearish movement is now expected at least to 70.7 ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
3
CRUDE OIL (WTI): Consolidation & Complete Indecision 🛢️ WTI Crude Oil is consolidating within a range on a daily since the beginning of November. Depending on the reaction of the price to its boundaries, I see 2 potential scenarios. Bullish Scenario If the price breaks and closes above 80.85 - the upper boundary of the range, I will anticipate a growth to 82.50. Bearish Scenario In case of a breakout of 72.20 support, we may anticipate a bearish movement to 87.35 level. Wait for a breakout, that will give you a strong bullish or bearish confirmation. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
1