Usoil:forecast
Oil was supported near 72, has now risen, has broken through the downward trend, and is now in shock
If the oil does not fall below the important support of 72 this week, we can be sure that the oil may have reached a phased bottom.
So this week we need to pay important attention to the support strength of 72. If it falls below, the oil will look for the bottom again, and it may reach the important support of the monthly line near 68, so this week is very critical.
I judge that if it does not fall below 72 this week, oil will sprint to 79.7 again. If it falls below this important support, observe the monthly support of 68-70.
Pay attention to OPEC news, Saudi Arabia and Russia do not want oil prices to fall, if the oil reaches the monthly support point, you can choose to buy
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Usoilprediction
Usoil:The impact of the OPEC+ meeting
Severe storms in the Black Sea region interrupted Kazakhstan and Russia's oil exports of up to 2 million barrels per day.The Ministry of Energy of Kazakhstan said that the average daily oil production of Kazakhstan's largest oilfield will be reduced by 56%.This has led to the possibility of short-term supply constraints and pushed up crude oil prices.Secondly, a report from the U.S. Energy Information Administration showed that U.S. crude oil and distillate stocks unexpectedly increased last week, indicating weak demand.Although gasoline inventories increased more than expected, these effects were offset by the large consumption of other refined products such as fuel oil.This has also played a certain supporting role in the rise in crude oil prices.
Investors' attention to the results of the upcoming OPEC+ meeting has also pushed up crude oil prices to a certain extent.The OPEC+ Group of Oil Producing Countries will decide on the level of oil production in 2024 at the meeting.So we must pay attention to the final result of the OPEC+ meeting
I also said yesterday that oil is still above the trend line and maintains an upward trend, reaching a maximum of 78.75 today.
So you can still buy at the support point today, or it will be more secure to wait for the meeting before trading.
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USOIL: Oil prices rose sharply due to a storm in the Black Sea Oil prices soared as storms in the Black Sea region disrupted oil exports from Kazakhstan and Russia, raising concerns about tight supply as investors awaited a major OPEC+ decision.
Severe storms in the Black Sea region have disrupted oil exports of up to 2 million barrels a day from Kazakhstan and Russia, state and port authorities said. The Ministry of Energy announced that Kazakhstan's largest oil field will see a 56% decline in total daily oil production by November 27.
Hiroyuki Kikukawa, president of NS Trading, a division of Nissan Securities, said:
“Investors are locking up short positions ahead of the OPEC+ meeting amid concerns about supply disruptions from Kazakhstan.”
“Attention is focused on OPEC+ policy and demand outlook for the second half of this year, and unless OPEC+ makes significant production adjustments, WTI is expected to remain around $76 in the short term and fluctuate above and below $5. .”
OPEC+ is scheduled to hold an online ministerial meeting on Thursday to discuss production targets for 2024, after postponing its Nov. 26 meeting. Four OPEC+ officials said negotiations would be difficult and there was a possibility of an extension of the previous agreement rather than deeper production cuts. A weak dollar and a decline in US crude oil inventories also supported crude oil prices. The dollar fell near a three-month low as market expectations grew that the Federal Reserve could start cutting interest rates early next year. Meanwhile, U.S. crude oil inventories fell by 817,000 barrels last week, market sources said, citing data from the American Petroleum Institute. On average, eight analysts polled by Reuters expected oil inventories to fall by about 900,000 barrels in the week ending Nov. 24. The US government's weekly oil inventory statistics will be released this evening.
OPEC Close to Agreeing Product Cut as African Countries I wanted to draw your attention to recent developments within the Organization of the Petroleum Exporting Countries (OPEC) that could potentially impact the oil market significantly. It appears that OPEC is inching closer to reaching an agreement on production cuts, as several African countries have now joined forces.
Over the past few weeks, discussions within OPEC have intensified, with member countries grappling with the ongoing challenges posed by the COVID-19 pandemic and its impact on global oil demand. The recent addition of African nations, including Nigeria, Angola, and Gabon, to the group's production cut efforts, has injected a new sense of optimism into the market. This collective action aims to stabilize oil prices and reduce the global supply glut that has been weighing heavily on the industry.
However, it is important to approach this development with caution. While the prospect of OPEC reaching an agreement is encouraging, we must acknowledge the inherent uncertainties that still loom over the market. The success of any production cut deal relies on the commitment and adherence of all participating countries, which historically has been a challenge.
Moreover, the global economic recovery remains fragile, and the resurgence of COVID-19 cases in several countries poses a significant threat to oil demand. Any setbacks in the containment of the virus could further dampen the prospects of a sustained oil price recovery.
Considering these factors, it would be prudent to exercise caution when considering investment decisions. As always, thorough analysis and risk management should guide your trading strategies. While the potential for shorting oil may seem compelling given the current situation, it is essential to carefully evaluate the associated risks and consult with your financial advisor.
In conclusion, the news of OPEC's progress towards a production cut agreement, coupled with the involvement of African countries, certainly warrants attention. However, the volatile nature of the oil market demands a cautious approach. As traders, it is crucial to stay informed, adapt to evolving circumstances, and make well-informed decisions based on comprehensive analysis.
Please feel free to reach out if you have any questions or require further insights. Wishing you successful trading ahead!
USOIL (CRUDE OIL ) SELL ON REJECTION HELLO TRADERS !!!
As i can see CRUDE OIL 🛢️
The anticipated OPEC+ meeting set for this weekend to a postponement to Nov 30th. The delay stemmed from challenging discussion between Saudi's and fellow members regarding oil production levels....
Saudi Arabia currently implements an additional 1 Million barrel per day output cut since July engaged in talks without specifying the cause for the delay....
Recently weeks have seen oil prices fluctuate amir signs of expending supply.....
CRUDE OIL 🛢️ INVENTORIES ROSE 8.70 MILLION BARREL
while this presents another bearish factor 🔥
and technically it is showing us a rejection here on a fake breakout of trend line so we planing for these design TP and expected more fall in USOil its just an trade idea do a proper analysis before trade on ur real account share ur trade idea with us it will help alote the trader community
Usoil:The prediction is correct
This is my forecast in the morning. Now that the oil has risen to the middle edge of the trend line, observe the resistance of 78.4.
Judging from the news, the OPEC+ meeting is discussing further production cuts, which may intensify tensions with the United States. At the same time, the market is focusing on whether Saudi Arabia and Russia will extend voluntary production cuts to 2024.Based on the comprehensive assessment of the core member states such as Saudi Arabia and Russia, based on their own interests, they are expected to do their best to maintain the stability of the crude oil market, and there is still some room for short-term prices to rebound.
I also reminded last week that oil is rebounding
From the chart, you can see that the oil has broken through the trend line, and now you need to observe the resistance above.
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BUY USOIL !!! TIME TO RETRACE hello traders as i can see its a great entry point for oil to caught some easy pips oil had created a good support zone on last daily low in shorter TF its seems more upside to test broken support zone Saudi and Russian are stick on their cut policy and war is also creating more demands
trade with ur on risk its just and trade idea if ur like our prediction we appreciate ur support it help our trader community stay tuned for more updates
📈🛢️US Oil Daily prediction 🛢️📉TVC:USOIL
FX:USOILSPOT
Before we predict the next week, let's take a look at the trend of the oil chart.
The price continues to move in a downward trend. Due to the support area, we can expect a rise in oil price to the previous high level.
If this uptrend fails, the price will reach lower targets below 77$.
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Usoil:Repeated shocks
Oil peaked at around 79.8 yesterday. Due to signs that tensions in the Middle East may ease and uncertainty about U.S. crude oil inventories, it fell to near 77.7 yesterday.
As can be seen from the daily line, the price has been supported and stabilized near the lower Bollinger band, and has emerged from a continuous rebound trend. Although the price fell after the increase yesterday, it did not fall below the important support position of 77.5.
So we can still choose to buy in the support range, but you need to strictly set the stop loss to prevent the oil from falling further.
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US OilPair : US Oil
Description :
Bearish Channel as an Corrective Pattern in Short Time Frame. Completed " 1234 " Impulsive Wave at Fibonacci Level - 23.80%. Break of Structure and Retracement with Strong Divergence. Bullish Channel in STF with the Breakout of Lower Trend Line
Entry Precautions :
Wait for the Proper Rejection
Crude oil short selling is bound to win
The current MACD dead cross shrinkage is gradually consolidating, and the smart indicator STO's hook is repairing upward, which means that the daily line is a shock-biased rebound trend. However, the current candle chart is suppressed by the moving average MA10 and the parabolic turning point, which suppresses the 78.7 line. At the same time, the candle chart also deviates from the moving average MA5 near the 77 line; therefore, there is a certain degree of retracement during the day.
In 4 hours, the current macd golden cross is running with heavy volume, and the smart indicator sto has repaired upward and entered the overbought area. Therefore, in 4 hours, the current shock is strong, and in the short term, focus on the moving average MA60 suppressing the 79.3 line.
Go short around 78.6-80, stop loss 79.4, target 77.7-4
Go long at 77.4, cover long at 76.9-77, stop loss at 76.3, target 78.5-79.2-80.2
US Crude OIL 4H :Got a positive momentumUS Crude Oil
New forecast
The price perfectly fulfills my last idea and price reached to our first target +70 pip.
The price of oil rose and the channel resistance remained above it, showing more upward bias and heading towards achieving more expected gains during the coming sessions, waiting to test the 83.24 level initially.
Therefore, the bullish bias will be likely for today, noting that breaching level 83.24 will extend the bullish wave to reach areas of 84.86 and 85.71 as the next main stations, keeping in mind that failure to consolidate above 82.00 will put the price under negative pressure again.
The expected trading range for today is between support 82.00 and resistance 84.86until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 82.00 , 80.56
resistance line : 83.24 , 84.86
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USOIL: Oscillating operation
Today, crude oil is still oscillating between 80 and 83, and continue to pay attention to whether it breaks through this range!
Today, we are once again in the range of high short, low and long, harvested a good profit!
If you are confused about trading, please join me, I believe you will have a great harvest!
Usoil:Still weak
The oil is still oscillating repeatedly, but the resistance point above is gradually declining, so it is judged that the oil is still relatively weak today.
At present, the oil is near 81.3, and the lowest point is near 80.3. Observe the support of 80.3. You can try to buy in a small position. If the oil falls below 80, you can make a stop loss.
The upper resistance is 83.2, so you can also choose to sell above 83, control your position, and your success rate will increase.
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Usoil:The willingness to rise is still not strong
Oil reached a minimum of 80.7. Because of the rapid decline, there will definitely be a certain rebound, so today we observe yesterday's high of 83.3 and the important boundary point of 84.
Oil has fallen due to the resistance of the lower edge of VWAP, so it can be judged that the willingness of oil to rise is still not strong.
So you can choose to be at 83.3 or more gradually sold
Arrange positions reasonably according to your funds and strictly set stop losses so that your success rate can be greatly increased
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USOil WTI Technical Analysis And Trade IdeaIn this video, we conduct a comprehensive analysis of USOil WTI, with a specific emphasis on the prevailing bearish sentiment evident on the weekly (1W) chart. Throughout this presentation, we delve into fundamental principles of technical analysis, encompassing critical elements such as the current market trend, price dynamics, market structure, and other indispensable components of technical analysis. As we proceed within the video, we meticulously scrutinize a prospective trading opportunity.
It is imperative to emphasize that the insights shared in this content are exclusively for educational purposes and should not be interpreted as financial guidance. Engaging in the foreign exchange market trading entails a substantial degree of risk. Hence, it is essential to prudently integrate robust risk management strategies into your trading plan.
Usoil:Range fluctuation
Oil is still the same as I said last week, fluctuating in the range of 82-86
As can be seen from the chart, the low point of oil is constantly moving up, and the support point is also constantly moving up, from 82 for the first time, to 82.5 for the second time, and 83 for the third time.
So it can be seen that we can still sell at the high point and buy at the low point
Now you can buy in the range of 82-82.5, or sell in the range of 85.5-86.
This strategy is still effective. Aggressive traders can buy at 83. If you break through these two ranges, you need to make a stop loss.
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USOIL (WTI) BUYING ON DIPS HELLO TRADERS,,,
As i can see this chart of USOIL it is moving same as we had predicted in our previous analysis
Israeli & Gaza War Tensions are driving Gold and Oil prices in bullish trend and we can see a Wyckoff Pattern on the base of technical view the support is holding the price of oil and i am expecting it will boost to the upside for completing this technical pattern...
History will repeat, like the 1973-1974 war, where all the Arab countries stopped the supply of OIL. Can we see the same thing in 2023-2024 as war is at its peak? If the same happens, the OIL price will shoot to 120-130 barrels directly .
this is just an trade idea with Technically + Fundamentally view Kindly share Ur thoughts on US OIL so it will help alote traders community we appreciate Ur love and support
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OIL BULLISH TREND STILL ON !!hello friends as i can see oil has filled the last week market opening gaps and continues to up trend Israeli & palatine war had changed the USOIL moves so fundamentally + technically chart is show us more upside moves till the drawn levels
please share ur ideas and thoughts about usoil
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