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Usoilforecast

USOil | New perspective for the week | Follow-up detailDespite starting the week on a bullish note, fresh new anxieties over inflation and rate hikes rippled across the market and this development resulted in participants dumping their long positions on the US Oil. With continued selling pressure below the key level at $80.00 level, buying opportunity might likely be on hold in the coming week until there are clear signs that support positive feedback from Chinese import data following the lifting of its COVID restrictions. In this video, we looked at the market structure from a technical standpoint and indications suggest continued selling pressure as long as the price remains below the $80 level. 00:50 Reference to last week's daily commentaries and results 05:25 USOil Technical analysis on Daily chart 10:20 USOil Technical analysis on 4H Timeframe against next week 11:35 Conclusion on next week's expectation for the USOil Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
1
USOil | New perspective for the week | Follow-up detailLast week's trading session saw Oil prices jump as Russia respond to the G7’s price caps by announcing production cuts by 500,000 bpd (accounting for 5% of its output in March) and its own minimum price structure. We were opportune to be part of the bullish momentum (see link below for reference purposes) which later capped at the key level at the $80.00 mark at end of the week. In this video, we looked at the current market structure from a technical standpoint where the $80 zone will be our center of focus at the beginning of the new week. 00:30 Reference to last week's daily commentaries and results 02:52 USOil Technical analysis on Daily chart 07:04 USOil Technical analysis on 4H Timeframe against next week 08:00 Conclusion on next week's expectation for the USOil Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
USOil | New perspective for the week | Follow-up detailOPEC+ panel endorsed the oil producer group's current output policy at a meeting on Wednesday - 2nd February 2023, leaving production cuts as agreed last year in place amid hopes of higher Chinese demand and uncertain prospects for Russian supply. Despite fundamental expectations, the US Oil prices tumbled 8.5% during the course of last week's trading session to signal a fresh dent in oil market sentiment for the month of February. This video illustrates a technical perspective on the current market structure for trading opportunities in the coming week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
1
USOil | New perspective for the week | Follow-up detailAmidst reports that oil loadings from Russia's Baltic ports were set to rise by 50% this month; the price of oil continues to drop as the $82.50 level remains a strong ceiling for selling pressure - a feat which has lasted for 3 months now. Also, OPEC+ is expected to meet on Feb. 1 to decide its monthly production targets and this is one event major players in the market will be looking forward to making a well-informed decision on trading possibilities. From a technical standpoint, we have decided to utilize the $80 key level as a yardstick for trading activities in the coming week and this is detailed in this video. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
1
USOil | New perspective for the week | Follow-up detailThis is a follow-up video to my previous analysis on the US Oil commodity as we close the previous week on a profitable note with over 300pips in profit (see link below for reference purposes). China being the world's number one importer of crude oil - the start of the Chinese New Year holiday will be closely watched to see if travel activities will be as robust as expected. As trading activities continue around the $80 zone and the long-term bearish trend line identified on the daily timeframe, from a technical standpoint, there is a high chance that price action might continue to find higher highs in the coming week(s). So the $80 - $82 zone shall be serving as a yardstick for a trading activity for this week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
Perspective on UsoilHello everyone A warm welcome to this channel which is called Stoic Markets, Stoic markets provides technical perspective on numerous trading pairs whilst adopting the stoic philosophy. We adopt the stoic philosophy and in-cooperate it into the financial markets for two reasons. The first reason is that the markets are beyond our control so we must refrain from for any attachments to the outcomes which can happen. We refer to outcomes as indifference's, for example we can lose or win, we don't chose which outcome we can obtain but leave it to the fate beyond our control. Obviously we prefer to win rather than lose such as we prefer health to illness, we call this preferred indifferences. Story; The archer can do everything within his control to hit the target, from strenuous training to the selection of adequate weaponry but despite this, there are still variables once the arrow leaves the bow. The shooting of the bow is in the archer’s control but the arrow colliding with the intended target is never guaranteed. This is analogy is perfect for trading, you can learn every pattern, every formation, technical outlook, trick and tip but regardless of this, the moment you fill that order you have to accept that you can miss the target. We hope that gives you a good insight into how we operate, with that being said let us focus on usoil. Firstly the USA, announced not long ago that they would begin stock pilling oil at $70, we can see that oil recently dipped to that level and bounced back up. this is dangerous for high oil prices as the USA has set a floor for the price of oil. It's possible we will come and touch this support level again but it should hold if that's where the USA are buying (Of course they can afford drawdown) but with China's demand increasing and UAE cutting output, it suggest that our only direction is up. Let's gaze up on this chart, the foot (support) and the peak (resistance) have been placed, these are historical points of price action from the monthly timeframe throughout oil's existence on trading view and they are very relevant to the price action we see now, the lines are daily supply/demand zones and the shaded area is an area where liquidation can be found. Usoil is in a ranging market and currently falling from an immature trendline, depending on social economics it looks possible that Usoil could fall. Seen as the USA are buying at a support region of $70, I would not disregard this from happening but it's more plausible to consider a new higher lower could be created in the shaded area as it's in-keeping with an uptrend and the trendline. We are new here but we know we will not disappoint so immerse yourself within the world of STOIC MARKETS.
TVC:USOIL
by STOIC_MARKETS
1
USOil | New perspective for the week | Follow-up detailThis is a follow-up video to last week's analysis as we were able to scoop over 1,200 pips profit (see link below for reference purposes). Thursday's data showed that U.S. CPI inflation eased in December 2022 and this data appears to be firing a bullish momentum as risk appetite for the Oil appears to have been bolstered. Last week's trading session witnessed a rise of approximately 7.00% to close the week around the $80 zone - a good sign of recovery. So, from a technical standpoint; the $80 Level shall be our yardstick for trading activities this week and this video gives a detailed illustration of what to look out for to either buy or sell the USOil for this week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
1