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Usoillong

How is oil trading amid expectations of an economic downturn? The panic brought about by successive bank bankruptcy, the market expects that the European economy will enter a recession, and the demand will drop sharply, leading to a general decline in commodities. Crude oil has fallen below $70 yesterday. If it falls below $60, it is expected to continue to fall to around $43 , which is very large space. If the bankruptcy incident can be stopped, the panic will no longer spread, the market will restore confidence in the European economy, and once again raise expectations for demand, oil prices will return to above $80 again. From the perspective of technical form, it is still in a downward channel. If it does not fall below 65, we do not rule out the probability of a short-term double bottom. If we do not retest around 65 again, for the rebound market, we only see the 69-71 range. , there is a very strong resistance around 71-72. If it can break through, the technical form can go up further. At the same time, it needs the cooperation of the news. If the panic cannot be controlled, we may have to short first and wait for 60 Look at the support situation nearby. If the decline stops, then there will be a greater opportunity to go long. Traders, if you like my sharing, please follow and support me. I will post more interesting trading information involving gold , crude oil , forex, cryptocurrency, and stocks. If you have any questions, please leave a message in the comment section, and I will answer them for you.
TVC:USOIL
by EagleEyeStrategy
1
USOil | New perspective for the week | Follow-up detailThe OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day hereby bringing the total volume of cuts by OPEC+ members to 3.66 million bpd according to Reuters calculations - a whopping 3.7% of the global oil demand. The latest reductions have a strong potential of lifting oil prices to new highs. In this video, we looked out for the possibility of taking advantage of any potential move in either direction. 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
Bullish on crude oil, target 72 OIL broke through the resistance around 69.8-70 yesterday, and the resistance has now turned into support. The new resistance is around 70.8. If the support does not break, you can go long USOIL. The first TP will continue to be placed at 70.7 yesterday's TP. If Break through 70.8, the next TP target is 71.2-72.4. SL temporarily set to 69.47 I have published opinions on gold, crude oil, foreign exchange, BTC, etc. If you are trading them, you can follow me, and my strategy will provide you with great help
TVC:USOILLong
by EagleEyeStrategy
USOIL: Bottom fishing, with potential return to $80 per barrel US crude oil has fallen for three consecutive days, pushing oil prices below $70 per barrel. As the market continues to revise down expectations for economic growth, and rising crude oil supplies offset the boost from China's reopening and the instability caused by the Silicon Valley Bank (SVB) collapse and Credit Suisse crisis, the financial market is facing huge instability, which has led to a sharp drop in oil prices. As the development of fundamentals continues to weigh on risk sentiment, US crude oil has extended its decline, breaking through the previous support (now turned into resistance) at the important psychological level of $70. As of Wednesday's close, US crude oil has fallen more than 12% this week, pushing the Commodity Channel Index (CCI) into oversold territory. At the same time, this round of decline has pushed oil prices towards the 200-week moving average (MA) of around $66, and oil prices have temporarily found support at this level. Personally, I am bottom fishing and going long on USOIL at $66-68 per barrel. Due to the huge volatility of energy products, please control your position size. Only consider following my strategy if you have sufficient capital. Enter the market with a small position and aim for long-term profits, with a target of $80 per barrel on the upside. I have conducted in-depth research on futures products such as cryptocurrencies, forex, stocks, gold, and crude oil. I also update my daily operation strategies. Thank you for your attention and support. If you have any questions, please feel free to leave a message, and I will provide the most secure advice. I hope I can help you.
TVC:USOILLong
by FlashTrades_
USOIL:$78 next week is crucial On Tuesday this week, the testimony of the Chairman of the Federal Reserve before Congress raised concerns about risk assets in the market. In this testimony, Powell stated that "if it is necessary, the Federal Reserve is prepared to speed up the pace of interest rate hikes, and terminal interest rates may be higher than expected." These words indicate that the Federal Reserve not only did not cool down the rising expectations for interest rate hikes over the past month, but also further pushed up the expectations for interest rate hikes. Powell's speech caused shock in the market, as the market saw from Powell's speech a determination to lower the inflation rate at the cost of suppressing demand and employment. On that day, the US dollar index soared, risk appetite deteriorated, and US stocks fell sharply, accompanied by a sharp drop of 4% in oil prices from above $80 per barrel. However, there was a reversal in oil prices on Friday. After testing the support at $74.5, the market quickly rebounded above $76 and successfully stabilized. Our long position in crude oil at $75 also reached the first take-profit level smoothly. However, there is still a certain distance from the recent high of $80, and the upper resistance level to watch is in the 76-78 area. This dense resistance area may limit the upward space. But if it breaks through $78, there will be an opportunity to challenge the $80 level again. Let's keep an eye on it, and I will update the trading strategy in a timely manner. I have in-depth research on futures products such as cryptocurrencies, foreign exchange, stocks, gold, and crude oil, and I also update daily trading strategies. Thank you for your attention and likes. If you have any questions, please leave a message, and I will provide the most secure advice to help you.
FX:USOILLong
by FlashTrades_
1
Buy on dips below $75 for USOIL As the Federal Reserve continues to raise interest rates and unwind its balance sheet, concerns over other US banks were raised following the "Silicon Valley Bank Incident", causing all three major US stock markets to fall. The S&P 500 Bank Index plummeted 6% last night, marking the largest single-day drop in two years. JPMorgan's stock price also fell 6%, resulting in a market capitalization loss of approximately $20 billion. Bank of America fell 6.1%, while Wells Fargo and Citigroup fell over 6% and 4% respectively. The four major US banks suffered a combined loss of $47 billion. Silicon Valley Bank announced an $1.8 billion loss from the sale of part of its investment portfolio, and sought to raise $2.25 billion by selling common and preferred shares. The bank's "self-rescue measures" worried investors, causing the stock price to plummet by 60%. In short, the market believes that Silicon Valley Bank is facing a liquidity crisis. Without a doubt, the market's risk aversion sentiment has spread to the crude oil market. After reaching $80, USOIL saw a sharp decline to below $75. Currently, there is a demand for a rebound in the market, and it is suggested to buy on dips below $75. Short-term technical rebounds and corrective trends for crude oil are expected, with a target focus on $77-80. I will continue to monitor the market and provide the latest strategies.
FX:USOILLong
by FlashTrades_
1
USOIL: Long position after a downward adjustment to $77 Despite the unexpected drop in API crude oil inventory providing support to oil prices, the hawkish speech by the overnight Federal Reserve Chairman has continued to help the US dollar index soar, which has raised concerns about economic recession and continued to put pressure on oil prices. Although there is a chance for the oil price to rebound and adjust after the overnight plunge. Looking at the daily chart of USOIL, the upward trend has not been broken, and the support below has continued to rise. Although there is no effective breakthrough above $80, the adjustment range of this downward trend is sufficient, and it is a good opportunity to enter the long position again. Personal trading strategy: Buy long position near $77-77.5, with the first target at $78.5 and the second target at $80, and pay close attention to the EIA data to be released tonight. I have in-depth research on futures products such as cryptocurrencies, foreign exchange, stocks, gold, and crude oil, and I will also update some daily trading strategies. Thank you for your attention and likes. If you have any questions, please feel free to leave a message, and I will provide the most secure advice, hoping to help you.
TVC:USOILLong
by FlashTrades_
1
USOIL WTI cautiously bullishWith the 4% drop on Tuesday, it appears that USOIL is likely to experience some moderate fluctuations over the next few trading sessions. While there are a number of factors that could impact price action, it seems that the market is currently in a relatively stable state despite the dump. I would like to outline three potential scenarios: USOIL could see some gains early today as the falling wedge looks set for reversal. There may also be some resistance at $77.40, which could limit the extent of any upward movement. with a potential retest of $76.06 Watch out for a potential retest of previous low ($76.07) before finding upwards momentum. Overall, and right now, I think it is difficult to predict exactly how USOIL will perform today and tomorrow but I'm cautiously bullish plus it's Friday! Trade safely and don't take my word for it! ❤️📈🔥
TVC:USOILLong
by foxvolta
1
USOIL: Long position at 79.5 Over the past two weeks, international oil prices have continued to fluctuate upwards, despite the negative signals from changes in US crude oil inventories and little impact on Russian crude oil exports from sanctions. However, these pressures have been unable to overshadow the positive impact of China's economic recovery and resilient risk appetite on oil prices. The supply gap caused by Russian sanctions on crude oil has been a concern for investors and an important factor supporting oil prices. According to recent media reports, the CEO of crude oil trader Gunvor Group has stated that price ceilings and export bans have not interrupted Russian crude oil exports, and there is an "uncontrolled fleet" shipping Russian crude oil outside the control of Europe and the United States. Contrary to the negative factors mentioned above, China's economic recovery is one of the important positive factors for international oil prices. Apart from immediate indicators such as the recovery of transportation observed by the market after the relaxation of epidemic prevention measures, some recognized economic data have confirmed the strong rebound of China's economy, such as the official PMI and Caixin PMI last week. Goldman Sachs previously predicted that as China's economy recovers, oil prices may return to $100 per barrel. China's latest trade data released today showed a trade surplus of $116.88 billion for January-February, down 6.8% year-on-year, better than the expected decline of 9.4%; imports fell by 10.2% year-on-year, worse than the expected decline of 5.5%. From the sub-item data, China's crude oil imports in January-February fell by 1.25% year-on-year (about 1.07 million tons), but imports of refined oil increased by 14.4% year-on-year (about 0.67 million tons). The recent strong risk appetite has also provided support for the rise of international oil prices. The daily chart shows that crude oil has broken through the downtrend line starting from January 27th, and after yesterday's fluctuations, it has broken through the 80 level, which may open up space for further upward movement. Although there may be adjustments during the day, if it can hold the support near the 80 level, it will maintain the prospect of further bullishness. If expectations are met, subsequent upward movements will target the recent months' high of 83 and the downward pressure line since July last year of 84. Personal trading recommendation: Enter a long position near $79.5, with the first target at $81.5 and the second target at $82.5. Whether crude oil can effectively stand above $80 in the near future is crucial. If there are any changes in the market situation, I will update it in a timely manner. Please continue to follow my strategy and leave me a message if you have any questions. I hope this can help everyone.
TVC:USOILLong
by FlashTrades_
1
Why has USOIL skyrocketed? Yellow leaves give up the trunk in anticipation of the verdant spring; candles sacrifice their perfect bodies to have a lifetime of brightness; and the mind lets go of the mundane clamor to embrace tranquility. Only by letting go can one free their hands and seize true happiness and joy that belong to them. Learning to let go is essential to living a fulfilling life. Now, let's analyze the reasons for the USOIL rise on Friday: Middle East conflict: Saudi Arabia and the United Arab Emirates have conflicts over multiple issues. The most significant disagreement is related to Yemen. The UAE is seeking to build a military base and runway on an island at the southern end of the Red Sea in the Mandeb Strait. However, Saudi Arabia has refused. Sources also indicate that the UAE has been urging OPEC+ to allow for increased oil production, but Saudi Arabia has remained steadfast in its refusal. In the end, the UAE publicly and privately indicated that it would adhere to the current OPEC+ agreement for at least this year. Therefore, this led to a significant rebound in crude oil prices after the initial sharp drop. However, it is important to continue monitoring the situation to see if the development of events will persist, which represents the primary risk. Sudden incidents: At least 12 people died in a pipeline explosion in Nigeria. On March 3, the Rivers State Police Department issued a statement saying that a segment of an oil pipeline in a village in the Imoha area of the state caught fire and exploded in the early morning. At the time of the accident, local residents were stealing oil from the pipeline, and it is believed that the burnt-out cars found at the scene belong to the oil thieves. The police are investigating the cause of the accident. This is a bullish factor for crude oil since Nigeria produces 1.44 million barrels per day, and the already repaired production may once again be affected. Data release: In the week ending March 3, the total number of oil drilling rigs in the United States was 592, compared to an expected 602 and a previous value of 600. This data is bullish for USOIL. From a technical perspective, USOIL was oscillating within the 76-78 range, but due to the impact of sudden events and data, the trend broke through upwards, and the trend turned bullish. It is worth emphasizing that USOIL belongs to the energy and strategic resources sector, and many events can lead to dramatic price fluctuations. Therefore, it is important to pay attention not only to technical analysis but also to the impact of news. In the short term, we will focus on whether 80.60 can form an effective breakthrough. If the resistance above is strong, the trend will fall back to around 78.60, and then we can lay out a long position in line with the trend. In the short term, the USOIL market is not stable, and cautious investors should observe mainly and wait for the impact of news to dissipate before laying out a more secure technical strategy. I will provide specific operation suggestions timely, and feel free to leave me a message if you have any questions. Thank you for your attention and support.
TVC:USOILLong
by FlashTrades_
2