USOIL Daily Risk Range - 13:19:54 (UTC) Tue Apr 7, 2020Previous Close: 28.34
Higher Bound: 30.40
Lower Bound: 17.81
13:19:36 ( UTC )
Tue Apr 7, 2020
Usoilprediction
UOSOIL | Neutral for the moment, buy if price make a breakout
- USOIL attempted a breakout at 28-29 area testing the short term resistance.
- Until the maket closed, there was a bullish movement considering the fact that the price action was consistenly above the 20 MA and the 50 MA.
- RSI level at 73 seems to approach the overbought area.
- Positive sign the fact that the price of USOIL is going along with the upper Bollinger band.
Forecast: If the USOIL breakouts the short term Resistance then the next big test will be the Resistance after the USOIL Crash.
USOIL: Possibility to Drop till $10 Thanks for Taking Interested in my Trading Idea.
USOIL: Possibility to Drop till $10
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Note: This is only for Educational purposes; this is not investment advice.
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chance at a rejection after positive news from China and Russiawith a completed wave and a rejection at the 618 level, we expect that the price can make new higher highs. especially with the fact in mind that Russia started the conversation with the Saudis to stop the price war in the OIL. on the other hand, China recovering from the Covid-19. this can be a double impulse for a bullish oil.
USOIL: Falling Wedge Pattern.Thanks for Taking Interested in my Trading Idea.
USOIL: Falling Wedge Pattern.
Dear followers, the best Gift for me is "will be your likes , comments & Share
Note: This is only for Educational purposes; this is not investment advice.
Thanks for your support!
US-Oil : Strong Sell Trade SetupI am Expecting Downside Move in US-Oil , Let see How Market Move.
ThankYou
USOIL is going to Neutral PhaseAfter the predictable fall in oil prices, it can now be said that oil is entering a neutral phase.
CRUDE OIL (USOIL) DailyDates in the future with the highest probability for price direction reversals
Crude oil (This is a chart i actually drew on 28th April 2019)So, even before CoronaVirus broke out, i already had a chart dated back to April 2019 drawn but made private that shows this might be leg C going to 32.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
USOIL output cuts to end of AprilWe highlighted this zone earlier this week. the price will probably bounce from this level. we will watch the $42 level closely.
USOIL LONG TERM SWING SET UPBuy limit usoil
Entry 1 45.86
Entry 2 44.68
Sl 44.00
Tp.1 46.86
Tp.2 47.86
Tp.3 49.86
Tp.4 52.86
USOIL and the SHORT ZONEAs we can see the value is falling for the Coronavirus consequences, anyway We also expect the fall (with a possibility of a retest in the uptrend tendence) but the value will continue falling, we also see a good retest in 61% of fibonacci , an evening doji star at the last LH and a strong down tendence
WTI Crude ABC Corrective Pattern - Possible Wave 3 Buy SetupCrude Oil fell quite sharply past month due to US-Iran conflict and recent Corona Virus news, there is plenty of support around $50 mark on this market, this is a counter trend trade as I am seeing momentum weakness and convergence around this area so expecting the market to revisit $54 mark.
Trade Safe!
USOIl at the important support level!!The price is sitting at an important level since NOV 2018 and the price is expected to bounce from here, put low amount as it is a risk trade
usoil long set upBuy usoil
Entry 1 51.08
Entry 2 50.48
Sl 49.10
Tp.1 52.20
Tp.2 53.40
Tp.3 54.68
Tp.4 56.00
Tp.5 57.80
#USOIL, Only if you like risk click on the above signal! True, this is a signal that goes against the current trend and therefore the risk is higher but the above support line $ 50.8 cannot be ignored.
The RSI has reached the bottom possible, a necessary price correction.
Stochastic shows that USOIL in Oversold.
Target: $ 54
In case of break of the above support line the signal is canceled.
Best Time to long term Buy Us Oil .Long term buy Us oil near 51.50/50.00 sl below 46.30 Target 67.00 / 76.00 just Trade with proper money Mangement Thanks
USOIL Fundamental UpdateUSOIL Fundamental Analysis
The president of OPEC mentioning a February meeting with the Russian oil Minister. An emerging meeting could be held as early as this coming week. The question is, what is the real impact of price of a barrel of sweet crude with so many moving parts across a trillion-dollar global supply chain. The president of OPEC mentioning a February meeting with the Russian oil Minister. An emerging meeting could be held as early as this coming week. The question is, what is the real impact of price of a barrel of sweet crude with so many moving parts across a trillion-dollar global supply chain. Fundamental headwinds include the impact on jet fuel demand and tensions in the middle east (Libya).
What's to come:
OPEC and the Saudi Oil minister wants to prove to the public right now that they are reacting proactively and display an earner willingness to react.
Output will be slashed. This was seen as the company went public back in December.
As mentioned, Libya has just shut down an 800,000 barrel/day pipeline. This compensates easily for the demand impact stemmed from the virus outbreak that the markets ignored; which is the issues on the supply side of Oil. Sentiment is so negative, that the market is fixated on the demand headlines and ignore issues on the supply side. Libyan production being offline for the last 2 weeks, has kept over 2 million barrels off of the market. When Libya went offline, it was assumed this was political. I think this shows something much worse, which is a theatre of war and thus a destruction to infrastructure.
Jet fuel prices in Asia are crashing. The question forward is, what’s the timeframe for the Coronavirus?
The U.S. rig count is at multi year lows, since last summer. At the current rig count level, the industry can’t grow. It would be at best a flatline, and probably a decline. A catalyst needs to come desperately, and this catalyst would be a spike in oil prices. Unless oil prices recover from current levels, there will be a structural shortage of WTI for years to come.
Bias is now long for both fundamentals and technical for WTI going forward this Q1
21:26:24 (UTC)
Sat Feb 1, 2020
