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Usoillong

Finally time for bullish oil? $USO to $120 then $300+People have been calling for the oil bull market to begin for the past two years and the trade largely hasn't worked as we've gone sideways to down. However, based on the chart, it looks like we're finally ready for a run. This would also line up with my bearish equity thesis. Oil looks to have broken out of an inverse head and shoulders pattern and althought it's a diagonal pattern which are less reliable, the indicators that I have seem to support the narrative. I think there's a possibility that we could see a 4x move over the next year or so. Let's see how it plays out.
AMEX:USOLong
by benjihyam
10
Oil prices can still be shorted at around 77 to make a profit. The overall trend of oil shows the closing stage of the arc top. There are still some opportunities for decline to short the oil price to make a profit. I am EDDY. Senior Financial Analysis Consultant. I have experienced the financial crisis, the stock market crash, and the market circuit breaker. The current trading opportunities in the market are much better than before. There are many trading opportunities every day. I have been observing investors in the market for a while. I can't bear to see some people in the market continue to lose money because they don't know how to trade. So I plan to continue to share my operating ideas for a while for your reference. If you are still confused about the trading market, you can continue to pay attention to my updates.
TVC:USOILShort
by Eddy_Wealth
Crude Oil Market Analysis and Trading SignalsTechnical analysis of crude oil Daily resistance 83.4, support below 77.5 Four-hour resistance 82, support below 80.7-79 Crude oil operation suggestions: After a bottom rebound in the daily chart of crude oil, the upward momentum has slowed down. Short-term is accompanied by a second roundabout retracement confirmation. The daily chart uses the middle track as the support point. Go long after the retracement confirmation. Today's lower support continues to focus on yesterday's hourly neckline support of 80.5. Relying on this position, the main bullish trend remains unchanged. The upper target is still near the daily pressure of 83.4. The short-term bullish strong dividing line focuses on the 80.7 mark. If the daily level stands firm at this position. Continue to follow the trend and do more. Short selling can participate near the daily resistance of 83.4. (At the same time, beware of trend changes, and there is also a warning of a sharp drop in the technical side) SELL:80.7near SL:81.10 SELL:82.0near SL:82.40 SELL:83.4near SL:83.70 Technical analysis only provides trading direction!
FX:USOILSPOT
by ActuaryJ
USOIL: Can crude oil stabilize at the 80 mark?Technical analysis of crude oil Daily resistance 83.4, support below 77-75 Four-hour resistance 81, support below 80-79 Operation suggestions for crude oil: The overall technical form of crude oil shows a bullish breakthrough. Today's support below continues to focus on yesterday's hourly neckline near 79.5-79.7. Return to this area during the day to continue to follow the trend and look for a breakthrough. The upper target is still expected to break through. The overall bullish strong dividing line moves up to the 78 mark. The daily level stabilizes above this position and continues to follow the trend and keep the low-price long rhythm unchanged. (At the same time, beware of sudden trend changes. The technical side also has a warning of a sharp drop and wash) BUY:80.0 near SL:79.70 SELL:81.0 near SL:81.30 SELL:83.4 near SL:83.70 Technical analysis only provides trading direction!
FX:USOILSPOTLong
by ActuaryJ
OIL: Operation in the range of 77~80Crude Oil Technical Analysis Daily resistance is 80-83.4, support below is 77-75 Four-hour resistance is 80, support below is 77.8 Crude oil operation advice: Yesterday, crude oil experienced a strong bullish rise around the 77.5 mark. In the Asian and European markets, the price slightly stepped back to test and stabilized at the 77.5 mark, ushering in a rebound. The European market rose slightly and broke through the 78 mark, falling into sideways fluctuations. After the US Bulls continued to work hard during the session, and the hourly line continued to rise and broke through and stood at the 79 mark, and continued to rise to close strongly near the 80 mark. After the overall price fluctuated around the 77 mark for nearly 4 trading days, the bulls broke through. In the short term, the oil price stood above the 79 mark and entered the bullish rebound cycle again. Today's lower support focuses on the neckline of yesterday's hourly line near 78.5-78.7. The intraday retracement relies on this position to continue to be bullish. The upper target continues to focus on breaking highs. The short-term long-short strength and weakness dividing line focuses on the 77 mark. Any retracement before the daily level falls below this position is a long opportunity. BUY: 78.4 near SL: 78.00 BUY: 77.8 near SL: 77.50 SELL: 80.0 near SL: 80.50 Technical analysis only provides trading direction!
FX:USOILSPOTLong
by ActuaryJ
Oil Broader Support Market Optimism, Despite Lingering UncertainOil prices edged higher this week, marking their strongest gain in seven days. This upward momentum came despite a somewhat ambiguous outlook for crude itself, suggesting the driving force behind the rise lies elsewhere: positive sentiment in the broader financial markets. Risk-On Rally Lifts Oil The primary factor behind oil's recent rise is the prevailing "risk-on" sentiment dominating global markets. Equity indices, particularly in the United States, have been scaling new highs, with the S&P 500 reaching its 30th record this year. This optimism seems to be spilling over into the commodities market, including oil. Investors, buoyed by the positive performance in equities, are displaying a greater willingness to take on risk, and oil is seen as a potential beneficiary. OPEC+ Cuts and Geopolitical Tensions Offer Underlying Support Beyond the broader market sentiment, a couple of oil-specific factors are also contributing to the price increase. Firstly, the decision by OPEC+, the world's leading oil producer alliance, to extend production cuts has helped to tighten supply and prop up prices. Anxieties surrounding potential disruptions due to geopolitical tensions in major oil-producing regions like the Middle East are also lending some support. Mixed Outlook for Crude: Demand Questions Linger However, the outlook for crude remains somewhat clouded by uncertainties. While the supply side appears relatively stable thanks to OPEC+ intervention, demand remains a question mark. Signs of slowing economic growth in some parts of the world, particularly in Asia, raise concerns about future oil consumption. Data from China, a major consumer of oil, recently indicated weaker-than-expected industrial activity, potentially signaling a softening demand outlook. Additionally, rising gasoline prices in some regions, like India, could dampen consumer spending and lead to lower demand for fuel. The Balancing Act: Weighing Optimism Against Uncertainty The current situation presents a complex picture for oil markets. The positive sentiment in broader financial markets is providing a tailwind for oil prices. However, this is counterbalanced by lingering uncertainties about future demand, particularly in Asia. The net effect of these opposing forces will determine the future trajectory of oil prices. Looking Ahead: Navigating a Volatile Market Oil will likely see continued volatility in oil markets. Investors will be closely monitoring key factors like: • Global economic performance: The health of major economies, particularly China, will significantly influence oil demand. • Monetary policy decisions: Actions by central banks, especially the U.S. Federal Reserve, could impact risk appetite and indirectly affect oil prices. • Geopolitical developments: Events in major oil-producing regions can disrupt supply and cause price spikes. By carefully weighing these factors, market participants can navigate the current uncertainty and make informed decisions regarding oil investments.
FX:USOILLong
by bryandowningqln
Crude oil is trading in a range, with a focus on 73.8~76.5Technical analysis of crude oil Daily resistance 78.4, support below 72.7 Four-hour resistance 76, support below 75-73.8 Crude oil operation suggestions: Crude oil fell first and then rose last week. The weekly line is in a wide range of fluctuations, and there is no strong unilateral trend. In the form of repeated tug-of-war between long and short positions, pay attention to the support of the low point of 73.80 this week. If it holds, it will continue to be bullish. The overall price shows a rhythm of long and short narrow fluctuations. Although the daily level has experienced two consecutive positive fluctuations and rebounded, the overall technical indicators are still in a short position. The upper side is still facing the pressure of the 76.5 mark. Today's rebound relies on the 76.5 line to continue to be short first. The short-term support below focuses on the vicinity of 74.3-74.5. Today, we will rely on this range to maintain the rhythm of fluctuations and sell high and buy low. SELL:76.0 near SL:76.50 BUY:73.8 near SL:73.40 Technical analysis only provides trading direction!
FX:USOILSPOT
by ActuaryJ
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
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
Crude oil under pressure 80.3 return rangeCrude oil technical analysis Daily resistance 79.2-83.4, support below 77.5 Four-hour resistance 79.2-80, support below 78.5 ✅Crude oil operation suggestions: Crude oil fell back after reaching a high yesterday. It failed to continue its strong performance after breaking through 80.0. The small negative line retreated and showed signs of seeking support at a lower level. In a strong market, the price usually falls back on the same day. Yesterday, it fell back and closed at a low level, which made the short-term bulls not strong. It still returned to a volatile trend. Be careful of today's rapid rise to repair the decline. The overall price continued to fall back after encountering resistance above the 80 mark. The short-term daily level continued the rhythm of long and short wide fluctuations. Today's upper resistance focuses on the opening of yesterday's hourly line near 80.3-80.5, and the lower support focuses on the 78.5 line. During the day, keep selling high and buying low according to this range. BUY:79.2 near SL:79.00 BUY:78.5 near SL:78.00 The crude oil brokers' quotations are different, only for reference of trading direction
FX:USOILSPOT
by ActuaryJ
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
Crude oil continues to run in the 77~80 rangeCrude oil continues to run in the 77~80 range, waiting for a breakthrough, continue to sell high and buy low Crude oil technical analysis Daily resistance 79-80, lower support 76.8 Four-hour resistance is 79-80, and support below is 77-76.8 Crude oil operation advice: Crude oil was under pressure at the 79.2 mark yesterday and ushered in a weak and volatile downward breakthrough. The Asian and European prices fluctuated sideways and came under pressure near the 79 mark, then fell back and fell rapidly, falling back to a weak rebound near 78.2. NY time was under pressure at the 79 mark and ushered in an accelerated decline. Finally, the price fell to around 77.6 and stabilized. The overall price appears to be suppressed at the 79 mark. Short-term oil prices continue to show a daily red-green cycle rhythm. Today, the lower support focuses on 77.2-77, and the upper pressure focuses on 79.5-80. The day will continue to rely on this range to maintain a wide range of long and short shocks. The watershed between short-term long and short strength still focuses on the 80 integer mark. Before the daily level reaches 80, it will continue to maintain long and short shocks between 77 and 80. BUY:77.0 near SL:76.70 BUY:76.8 near SL:76.40 BUY:79.6 near SL:79.30 Technical analysis only provides trading direction!
TVC:USOILLong
by ActuaryJ