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Usoilforecast

USOIL - Summer demand expectations are supporting pricesReuters stated that the Fed has raised hobby prices sharply in 2022 and 2023 to minimize growing inflation. Rising borrowing fees for customers and corporations ought to gradual financial boom and decrease oil call for. Meanwhile, a robust dollar ought to hose down oil call for via way of means of making greenback-denominated commodities like oil extra costly for holders of different currencies. Commenting at the surprising acceleration in oil costs, analysts at strength consulting company Gelber and Associates stated summer time season call for expectancies are helping costs. Goldman Sachs analysts stated they anticipate Brent oil costs to upward thrust to $86/barrel withinside the 0.33 quarter. In their report, those analysts stated that strong summer time season transportation call for will push the oil marketplace right into a deficit of 1.three million barrels in step with day withinside the 0.33 quarter. Oil costs rose regardless of the greenback growing to a four-week excessive following a pointy decline withinside the euro. Last week, oil costs fell for the 0.33 consecutive week because of worries that the Organization of the Petroleum Exporting Countries and its allies` (OPEC+) plan to boost a few manufacturing cuts from October might similarly growth supply. Investor interest is presently turning to US purchaser charge index records for May to be launched on June 12, searching out suggestions approximately whilst the Fed can also additionally begin decreasing hobby prices. The marketplace is additionally "waiting" for the consequences of the Fed's two-day coverage assembly beginning on June 12 with the expectancy that americaA Central Bank will preserve hobby prices stable. The marketplace has tempered expectancies for a Fed charge reduce in September following jobs boom records launched ultimate week. According to records from LSEG Financial Company, buyers additionally diminished expectancies approximately the extent of Fed easing this year, with handiest one hobby charge reduce.
TVC:USOILShort
by TheLeader_WOLF
USOIL ANALYSIS (SHORT) (11/06/24)Pretty self explanatory and simple. Using the bias (Bearish) I simply mapped out the last area which created a significant break. Within this area - price should gear towards the demand zone below - however I do acknowledge that price had already reached demand in an earlier period and therefore if price breaks through the POI (For which there will be potential to do so - due to upper imbalance found on a bigger TF), I would seek for an entry point allowing me to ride out the buy.
TVC:USOILShort
by saintprincevvs
World oil prices are in the process of accumulationWorld oil fees extended 2% at the buying and selling consultation on June 6, after the European Central Bank (ECB) determined to reduce hobby fees, elevating hopes that americaA Federal Reserve (Fed) will comparable action. Meanwhile, ministers from the Organization of the Petroleum Exporting Countries (OPEC) and its allies, called OPEC+, reassured traders that the ultra-modern oil output settlement should alternate relying at the situation. into the marketplace. At the quit of this consultation, Brent North Sea crude oil charge extended through 1.forty six USD, equal to 1.86%, to 79.87 USD/barrel. The charge of US mild candy oil (WTI) extended through 1.forty eight USD, equal to 2%, to 75.fifty five USD/barrel. On June 6, the ECB carried out the primary hobby charge reduce on account that 2019, mentioning development in pushing lower back inflation, however caution of inflationary strain withinside the Copper Area. Euro (Eurozone) continues. Specifically, the ECB diminished hobby fees through 25 foundation points, to 3.75%, after maintaining hobby fees unchanged from October 2023. Lower gas charges and easing post-pandemic deliver constraints have helped push inflation right all the way down to 2.6% withinside the 20 nations that use the euro, from 10% on the quit of 2022. Investors are actually much less sure than they had been some weeks in the past that inflation has fallen sufficient for the ECB to adopt a large-scale economic coverage easing cycle. In americaA, economists expect the Fed will reduce hobby fees in September 2024. The range of Americans submitting preliminary unemployment claims rose closing week and hard work charges rose much less withinside the first area of 2024 than forecast, the Labor Department stated. While this indicates americaA hard work marketplace is cooling, it's miles not going to spark off the Fed to begin slicing hobby fees. Meanwhile, buying and selling company Trafigura`s leader economist Saad Rahim stated OPEC+'s choice to steadily raise a few manufacturing cuts, blended with sturdy gas supplies, had driven oil fees down. reduced withinside the beyond few sessions. Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman stated on June 6 that OPEC+ should pause or opposite the growth in manufacturing if it reveals that the marketplace isn't sturdy sufficient./.
TVC:USOILLong
by Chart_MasterPro
USOil moving lower**Monthly Chart** Last month candle closed bearish after testing the low of key reversal candle of the previous month and started moving lower. The next target on monthly is around 71 level and then 63 level respectively. **Weekly Chart** Last week's candle closed as a bearish key reversal suggesting a continuation of the downtrend move. **Daily Chart** USOil broke the relative equal high of the range with the creation of manipulation candles at around 80 levels. The next target is to break the soft level of supports around 75.50 level and move aggressively lower. A corrective move around 78.00 level is required to push the price lower. The next target is around the 72 to 70 level.
TVC:USOILShort
by PropSignals
USOIL: Current oil prices are widening their fluctuation rangeUSOIL: Current oil costs are widening their fluctuation range. The short-time period upward fashion because of climate facts in North America and Texas reasons short-time period worries approximately oil output on this region. However, withinside the future, oil costs will nevertheless generally tend to lower and watch for bulletins from OPEC+. We can see that individuals of OPEC+ and Russia have all proven symptoms and symptoms of growing production, so the chance of a lower in oil costs is surprisingly high. Consider promoting across the modern rate range. Target is 76$/1 barrel
TVC:USOILLong
by TheLeader_WOLF
USOIL: Short-term oil prices are on the way to recovering to $80USOIL: Short-time period oil fees are at the manner to convalescing to BSE:EIGHTY because the marketplace is presently watching for the subsequent OPEC+ meeting. However, the chance of a lower is fantastically excessive due to the fact OPEC+ nations have nearly all showed the growth in production. This will probably reason oil fees to drop even lower. Consider ready to promote with USOIL around BSE:EIGHTY with the anticipated goal to go back to $75-76
TVC:USOILLong
by Chart_MasterPro
USOil short term Bullish and long term Bearish**Monthly Chart** USOil last monthly candle created a swing high with a Ring high formation which indicates a continuation of the bearish trend as it bounced from a key level at around 87.60. This month the price opened from the low of the previous candle and continues to move lower. The next level is around 70.00 and then 66.60. **Weekly Chart** The last weekly candle closed bearish which has created a different opinion on whether USOil price might continue moving lower after breaking the soft support level or bounce from it at around 75.90. **Daily Chart** I am seeing short-term bullish to break the equal highs above 80.00 level before continuing the move lower. Therefore, my long-term bias is still bearish for USOil. The plan for this week. I will only react near the low and high of the levels that I marked. Plus I will look for a confirmation candle (some calls it insurance candle).
TVC:USOILShort
by PropSignals
USOIL: Oil prices have turned downUSOIL: Oil fees have became down. In the fast time period, there are symptoms and symptoms of breaking the preceding growing channel. Besides, the fast-time period accumulation region around $77 -seventy nine is likewise displaying a main weak point withinside the context that OPEC+ has finished its discount goal and is making plans to boom production. In the fast-time period destiny scenario, it's far in all likelihood that OIL will drop to deeper charge levels. You can watch to promote with short-time period expectancies of around $75/1 barrel.
TVC:USOILShort
by Chart_MasterPro
Sell oil. A must read if trading oil. In terms of oil, after the news of substantial persistence came to light. Oil prices have been trending downward. This is true in the medium term and also in the short term. Currently, the top of 79 serves as a pressure position and is a good selling point. The small-level target below is around the price of 77.5. Operations are still focused on selling. In the past, you always failed when trading alone. But everything will change after you follow me. Because we will be the ultimate winner!
TVC:USOILShort
by AA_Jack
Crude oil continues to be shorted at high pricesCrude Oil Technical Analysis Daily resistance is 79.6-83.4, support below is 76.8 Four-hour resistance is 79.6-80, support below is 78-76.8 Crude oil operation suggestions: Shorts dominate the daily chart, and the trend of suppressing shorts and oscillating downwards has been formed for 6 consecutive trading days. The short-term resistance above today continues to focus on the vicinity of 79.6. The rebound relies on this position to continue to be bearish and the target continues to be new lows. The short-term oil price long-short dividing line focuses on the 80.5 mark. Any counterattack before the daily level does not break through and stand at this position is Short opportunities and keep trading with the trend. SELL:79.6 near SL:80.00 SELL:83.4 near SL:83.80 SELL:79.0 near SL:79.40 Technical analysis only provides trading direction!
TVC:USOILShort
by ActuaryJ
3
Crude oil trend analysis next week Looking at the daily chart of crude oil, it tested support near 80.7 at the beginning of the week and then strengthened. It can be seen that the support below the 80.3 mark is very strong. At present, crude oil has stood firmly above 83, and the trend is still strong. It is expected to continue in the future. On the upside, the upper resistance is near the 86 mark. Looking at the four-hour line, it fell to around 80.7 at the beginning of the week and then rebounded to around 83.7. Then fluctuate and adjust. It rose strongly near the 82 mark on Thursday, reaching a maximum of around 83.8. There is expected to be room for further growth. In terms of intraday operations, follow the trend and go long. You can mainly refer to the 83-83.3 area to advance more and look above 85. Overall, the crude oil operation ideas next week will be mainly low-level declines and high-altitude rebounds, supplemented by high-altitude rebounds. The upper short-term focus is on the first-line resistance of 84.5-85.0, and the lower short-term focus is on the 82.5-82.0 first-line support.
TVC:USOILLong
by cdfxcdfx
Why Oil Bulls May Be Right: Signs of a Tightening MarketOil prices have experienced a volatile period in recent months, with concerns about global economic growth and geopolitical tensions battling it out with signs of a tightening physical market. However, for investors with a long-term perspective, recent developments suggest a potential bull run for oil, making it an attractive asset to consider. Here's a deeper dive into why going long on oil could be a strategic move: Tightening Physical Supplies: One of the most compelling arguments for a long position is the evidence of a tightening physical market. This is reflected in key timespreads, which compare the price of oil for immediate delivery to the price for delivery at a future date. In a healthy market with ample supply, the price of oil for immediate delivery would be lower than the price for future delivery (contango). However, when the physical market tightens, the opposite happens – the price of oil for immediate delivery becomes higher than the price for future delivery (backwardation). This phenomenon, currently observed in the oil market, suggests that there is a higher demand for oil right now than there is readily available supply. OPEC+ Production Cuts: Adding fuel to the fire are the production cuts implemented by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+. These cuts, aimed at supporting oil prices, have helped to restrict supply and contribute to the tightening market conditions. While OPEC+ is considering easing the cuts in the coming months, the extent of this easing and its impact on the market remain uncertain. Geopolitical Instability: Geopolitical tensions around the world, particularly in major oil-producing regions, can also disrupt supply and push prices higher. Recent events, such as ongoing conflicts or threats to critical infrastructure, highlight the vulnerability of the global oil supply chain. Limited Non-OPEC Growth: While concerns persist about a potential slowdown in global economic growth, particularly in China, the anticipated increase in oil production from non-OPEC members may be less pronounced than previously expected. This could further exacerbate supply constraints and bolster the case for oil bulls. However, some headwinds remain: It's important to acknowledge the countervailing factors that could dampen oil prices. The persistent issue of inflation in the US, for instance, could lead to interest rate hikes by the Federal Reserve. This, in turn, could strengthen the US dollar and make oil, priced in dollars, more expensive for buyers using other currencies, potentially dampening demand. Conclusion: Despite these headwinds, the evidence of a tightening physical market, coupled with OPEC+ production cuts, geopolitical uncertainties, and limited non-OPEC growth, paints a compelling picture for a potential oil price rally. For investors with a long-term perspective, strategically going long on oil could be a profitable decision. However, careful monitoring of factors that might impact supply and demand, such as global economic conditions and policy decisions, is crucial for managing risk and making informed investment choices.
TVC:USOILLong
by bryandowningqln
Why I Expect 200 Dollar USOIL Wti CrudeUsing momentum indicators (keltner channel) I've been watching this weekly rally and recent correction. Using the close, and the last wave, oil price could climb to astronomical levels in USD. There is a momentum shift of the correction, and the bull market for oil appears to be underway. At this pace, 200 by june is not far fetched. I expect the Dollar to lose significant strength, and costly measures enforced as an abysmal attempt to stifle inflation. Soon interest payments will become the largest expense if it hasn't already. There is much reason to worry about world markets right about now. Larger Pattern Breakout and here is the shift up close on the weekly: This is not financial advice.
TVC:USOILLong
by Mikhiavelli
33