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Oil buyers step in at $72/bbl: Is the downside limited?The oil market has seen a lot of activity, with recent developments mostly easing worries about market tightness. In China, Covid-related restrictions have been reinstalled in major cities, triggering rare protests and consequently reducing outlook for oil consumption, in striking contrast to perceived moves to reopen the economy at the beginning of November. On the supply side, reports that the United States granted Chevron Corp permission to restart oil production in Venezuela, as well as Iraq's statement that it will add 1 million to 1.5 million barrels per day of oil export capacity by 2025, weighed on oil prices. The oil future curve is no longer in a backwardation state. The price premium that spot WTI held over its future contracts ( 3A1! ; 4A1! ; 5A1! ) has been fully wiped away by the most recent leg of oil depreciation. In essence, the spot price of oil is currently trading at par compared to its 6-month future delivery, indicating that the market is not currently concerned about prompt supply. This condition has not been observed since January 2021, and it may be prudent to be wary of surprises at this time. Bad news is priced, but positive catalysts are still to come? With most bad news already priced in by the market, it may take something new to stop oil prices from falling. In October, the US White House signalled that it intends to repurchase crude to replenish its SPR stocks when WTI prices are at or below about $65/bbl and $72/bbl. Consequently, this area could present a strong price support and thus limit the downside relative to current market prices. Additionally, supply-side risks have not completely disappeared. The G7 has postponed a price ceiling on Russian oil, but Russia said that it may retaliate, restricting supply, if the G7 applies a price cap. In view of recent market developments, OPEC+ could also reinforce its very restrictive supply strategy on Sunday, December 4th. Dip buying to resume at $72? Technically speaking, oil has revised its lows for 2022 and is currently experiencing a negative year-to-date performance. The most recent wave of decline was dramatic, bringing the daily RSI close to oversold territory. In the past, massive selloffs in oil prices, with the daily RSI in oversold territory, produced some near-term price recovery. WTI prices are currently 14% and 30% below their respective 50-day and 200-day moving averages, which appears overly pessimistic considering the persistence of upside risks. Given how sharp the recent downward trend was and the fact that a positive catalyst might happen soon, dip buying may start to come back at these levels.
CAPITALCOM:OIL_CRUDE
by Capitalcom
USOIL Intraday longUSOIL/ US Crude has been pulling back to our resistance. We will first catch the bullish move on the hourly timeframe and wait for aa bearish confirmation once our ABCD pattern is complete. Once we have the confirmation, we will short the XTIUSD. Please sharee your thoughts. Disclaimer NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
BLACKBULL:USOIL.FLong
by Mezzoforte_Privilege
USOIL 90.17 +0.03% SHORT IDEA * REVERSAL & PRICE ACTIONHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. LOOKING AT THE USOIL * The ENERGY is currently RANGE BOUND , testing the base & ROOF this structure. - Short term the pair has currently at the supply zone of this range. - Looking at this range as a possible continuation or reversal structure but for now the range is still in play. - Looking for SHORT entries on the THE CRUDE this week should all the rules of the formation be met. ******* CRUDE OIL INVENTORIES JUST SPIKED AND REJECTED, the increase in the oil is actually MORE than expected @ -4.756 M which implies LESSER demand and the energy could react BEARISH . lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
TVC:USOILShort
by PULEMokhothu
3
OIL racing..Don't forget to click the follow button to see daily detailed anlaysis. Also please ask any questions if you have them! As of late we have seen a rush upwards from oil... Because of our RM we can handle times like this and we are looking for a Fall back down to comfortable support. It is important to be prepared for any asset move, especially ones that are heavily sentiment driven and can move FAST. We are entering great resistance and we are way off MA's. Profit margin for Fall is also desireable. Directional arrow shows Price TGT.
TVC:USOILShort
by WillSebastian
Oil remains steady after reserves release announcement The release of oil reserves was expected to lead to lower oil prices, but instead, WTI Crude Oil has remained steady after a spike. It currently trades just above $78, but upward momentum has been limited. There is short-term resistance at $78.65 and bulls will be looking to close above this figure. However, bearish pressure could lead to a drop back to November lows. If bulls do push the price up, $80.50 will be an important resistance level to look out for. Currently, we see price consolidating and we could soon see a trend emerge. Joe Biden's announced that over 50 million barrels are set to be released with coordination from Japan, China and India. The aim is to lower energy prices, however, OPEC+ producers may respond based on future price action. Traders will be looking out for weekly crude inventories data and other key US economic releases. After hitting 7-year highs, analysts will be wondering whether Crude Oil will be adversely affected by potential demand shortages as a result of increasing Covid-19 cases and possible lockdowns. investors may possibly see this as a short-term trend, but the USOIL price could react if there are greater concerns about lower demand.
CAPITALCOM:OIL_CRUDE
by Capitalcom
1
Technical analysis update: WTI oil (11th October 2021)USOIL reached our short-term price target of 80 USD. Because of that we would like to update our idea. We would like to change medium-term price target of 82 USD to short-term price target. In addition to that we would like to set new medium-term price target to 85 USD. Our long-term price target of 90 USD remains unchanged. We continue to be bullish on WTI oil and we expect price to continue its climb. Technical analysis MACD is bullish. Stochastic is also bullish. RSI is bullish, however, it reached overbought condition again. We previously noted that such phenomenon is often followed by correction in price (we noted that before slump towards 75 USD occured). ADX continues to grow which suggests that trend is strenghtening. We continue to be bullish but we would like to see price stabilize at current level first. It is possible that USOIL will move in certain range for while before continuing higher. Support and resistance Short-term support appears at 79.76 USD. Another two supports below that sit at 76.95 USD and at 74.21 respectively. Next strong support sits around 65 USD while major support lies at 61.58 USD. Current short-term resistance sits around 82.50 USD. Another resistance level appears at 85 USD. Here is link to our previous thought from 7th October 2021: Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
Technical analysis update: WTI oil (27th September 2021)USOIl reached our short-term price target overnight. We continue to be bullish on WTI oil. Because of that we would like to change medium-term price target of 77.50 USD to short-term price target. Similarly, we would like to change long-term price target of 80 USD to medium-term price target. We would also like to set new long term price target to 90 USD per barrel. Technical analysis RSI continues to evolve its bullish structure. We will observe RSI closely in the following days and we will look for crossover into overbought territory (above 70 points). We expect this phenomenon to be accompanied by strong upside price action. Stochastic is also bullish as it oscillates in the upper area. In addition to that MACD is bullish too. ADX contains low value which suggests that trend is very weak at the moment. Despite that we remain bullish on USOIL and we expect bullish trend to resume soon. Support and resistance Short-term support sits at 73.11 USD. Major support level appears at 61.58 USD while major resistance level appears at 76.95 USD. Here is our previous thought from 15th September 2021: Here we did set short-term price target to 75 USD which was reached today overnight. We also layed out bullish case for USOIL. Here is our previous thought from 3rd September 2021: Here we did set short-term price target of 72.50 USD which was subsequently reached in two weeks. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
4
Technical analysis update: USOIL (22nd September 2021)In recent days USOIL has been holding up relatively well in comparison to the general market. It currently trades around 71.30 USD. We forecast that positive developments in the airlines and the travel industry will drive demand higher over the next 6 months. Our short term price target remains 75 USD per barrel while our medium term price target is 77.50 USD. Our long term price target is 80 USD per barrel. Technical analysis RSI is bullish. MACD is also bullish. Stochastic oscillates in the bullish zone, however, it strives for reversal. ADX contains low value which suggests that trend is neutral. Despite that we remain bullish on USOIL and we expect resumption of bullish trend in close future. RSI daily timeframe: MACD daily timeframe: Stochastic daily timeframe: Support and resistance Short term support sits around 70.50 USD. Another strong support appears around 65 USD while major support sits around 61.58 USD. Short term resistance sits at 73.11 USD. Medium term resistance sits at 74.21 USD and major resistance at 76.95 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
4
Technical analysis update: USOIL (13th September 2021)USOIL continues to trade around its short-term resistance near 70.50 USD price level. We continue to be bullish on USOIL. Our short term price target is 72.50 USD. Our medium term price target is 77.50 USD and long term price target is 80 USD. Technical Analysis ADX exhibits low value suggesting that trend is neutral or very weak. Although, RSI and Stochastic are very bullish. MACD is also very bullish. Indeed, it is performing crossover above 0 points (that we predicted in our previous idea). We expect this phenomenon to result in resumption of the bullish trend and subsequent price rise. Important support levels appear near 65 USD and then at 61.78 USD. Contrary to that, closest resistance sits at 74.21 USD and then at 76.95 USD. We currently remain bullish on price of WTI oil. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
10
Crude Oil Still Downtrend as long as below 70.50 Price Zone. Crude Oil stuck in a downside trend. as long as below 70.50/71 price zone gold will carry its downtrend. Crude oil sell area 69.50 p [rice zone. we should stop loss above 75.50/71.00 price zone. so, if we sell near 69.50 I mean the present price zone. we will put our stop loss at the 71.0 price zone. first target 67.00, 2nd target 65.00 price zone, if the market can break below 67.00 price zone. final target, 61.00 price zone. On the other hand, if crude oil price breaks above 71.00 price zone, we should go for a long term buy. The first upside target is 75.00 and the final upside target is the 77.00 price zone.
FX:USOILShort
by Gold_Trading_Expert
The great US oil short. Target $54So finally today we touched the very long term downward trend line on the weekly charts (see below). Wow what a run up! Now on the hourly chart we have a double extreme bearish divergence on the MACDH which usually (as its so rare occurring after long uptrends) signals a sharp reversal. We are trading inside a rising wedge here so we could try and take this all the way down to 54 for profit taking. If this divergence breaks down and we get stopped out wow that would signal further big bullishness to come. For the moment though I think the bear side is the best way to play this with a great entry here at 63.3 Hit the follow tag above and I'll post regular updates as always :;
TVC:USOILShort
by breakoutfakeout
6
US Oil (WTI) 6/30/2020Hello, welcome to this analysis on US Oil. Oil has been in an uptrend since the massive drop back in April (the price went negative for a future expiry!). Although the price has filled the March's gap around 41$ and the macro trend looks exhausted based on the bearish divergence on the higher time frame indicators, on the short term time frames it looks like the price has made a higher low by creating a double bottom pattern which just got activated by a break above the double bottoms neckline at 39.20$.The target of the double bottom pattern is around 41.5$ which is the previous high as well. The first trouble area between the price and the target is around 40$. The level has acted as support and resistance a few times previously and it's at the equilibrium of the range as well. The level can be a good price to take some profit of the trade if it goes up. A pullback to 39.5$ - 39$ can be a good long entry. The price can reach the pattern's target as long as it holds the 39$ level as support, so it can be a good price level to manage the risk of this trade idea below it and exit the trade if the price breaches below it. This trade idea has 2.5 rewards to risk ratio if it hits the target. Good luck trading. :)
TVC:USOILLong
by Trader_Shayan
OIL ($USOIL) 🛢️ | What The Amish Can Teach You About Oil👁️‍🗨️Crude Oil's trend is still bullish despite a drop in the broader market that is pulling oil along with almost everything else down with it. While weak demand is ramping up storage fears (fears should have been quelled by the OPEC+ deal to cut production, but doubts over compliance linger) the overall trend for oil along with the OPEC+ deal itself is still bullish enough to have us looking for support. With that mind, let's take a look at some levels for crude oil. Support. The first logical support level is the S1 bullish S/R flip. A retest of this level and then more upside is exactly what the oil bulls want to see. Below that we would have a retest of the mid-to-lows of the previous range at S2. Any support found in S1 or S2 is bullish enough and will likely lead to higher highs being tested. Below that S1 and S2 bullish continuation range is the S3 S/R flip and major pivot point along with the S4 bullish orderblock both stand to give the bulls another shot at staving off the serious lows made during Oil's crash to beyond zero... although even testing these levels really jeopardizes the uptrend. Resistance. The R1 bearish orderblock is the bull's first level resistance if we move higher. This level has already acted as resistance once. The bull's best bet will be drilling through R1 with momentum once support is found. The next level of interest in terms of resistance is the R2 bearish S/R flip. Once the gap from the previous drop is filled, this becomes the most notable level standing between oil bulls and a sustained uptrend. Summary. The bulls have the on-paper OPEC+ deal and bullish price action on their side, while the bears have a pullback in the broader market, OPEC+ fears, and another potential demand crisis on theirs. Currently, however, the bulls have a clearer path to victory, so the levels to watch are those immediate support and resistance levels noted above. Resources: www.reuters.com + markets.businessinsider.com + www.cnbc.com Hit that 👍 button to show support for the content and help us grow 🐣 Let us know what you think about the content down below in the comments section please :D
TVC:USOIL
by AlphaBotSystem
USOIL is Showing Very Strong Recoveries! $43 Coming Soon! 🛢 📈Welcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, 👨💻 Trader champ is here on your Service, Also hit thumbs up 👍 and support the work Here I have done MTA for Crude Oil to find the most accurate entry on the market. Wait for confirmation. Sketch up your own trade setup and make sure you meet with the required confirmations first before you make your move! ⭕️ ✅ Scroll Down 👇 ⬇️ to signature section for 📲 contact details 💰💰💰 Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on trading view is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILLong
by Profitlio_Trading
great plan to trade USOILDear traders USOIL is now between two resistance and support zones , the resistance zone is from 28 to 29.29 on the other hand the support line is at 25. best plan is to wait USOIL break one of these areas to make Some easy pips. 1_if it breaks down support zone : short it , target point: 21.5 stoploss: if it closes a 4 hour candle over the broken support line. 2_if it breaks up the resistance zone : long it , target point:32.5 stoploss: if it closes a 4 hour candle below the broken resistance. I will update my idea to let you know when you can enter this trade. follow me and push like button if you liked my idea. never put yourself in high risk when you are trading USOIL because it is strong and powerful. SO SIMPLE AND USEFUL
FX:USOIL
by toptrendtrader