USOIL's trend remains rising.If the United States tightens sanctions on Iran, analysts at Commonwealth Bank of Australia (CBA) estimate that about 0.5-1.0% of global oil supply may be affected, which would push Brent crude oil prices above $100 per barrel.
A further risk is whether Iran will try to disrupt oil shipments through the Strait of Hormuz, through which 15-20% of the world's oil supplies pass.
The continued rise in oil prices will have a negative impact on inflation, but it will also impose a burden on consumers, so the impact on interest rates is not direct.
Usoilshort
USOIL: Weekly profit summary
This week ended perfectly, earning 50,000, exceeding the expected target, the main reason is to seize the opportunity to fall all the way, continue to maintain next week, I wish everyone a happy weekend!
If you are confused about trading, please join me, I believe you will have a great harvest!
Oil Experiences Worst Declining Week Since March Last week, oil prices suffered a significant decline, marking the worst week since March. This alarming development demands immediate attention, and I strongly urge you to consider taking advantage of this unprecedented opportunity to short oil.
The oil industry, which has been grappling with numerous challenges throughout this year, is now facing a new wave of uncertainty. The recent decline in oil prices has sent shockwaves through the market, raising concerns about the stability and future prospects of this crucial commodity. As traders, it is our responsibility to stay ahead of the curve and capitalize on these fluctuations.
By shorting oil, we can potentially profit from the ongoing downtrend and mitigate the risks associated with the volatile nature of this market. This strategy allows us to sell oil contracts at current prices, with the intention of repurchasing them at a lower price in the future. However, timing is of the essence, as the window of opportunity may be limited.
It is important to acknowledge that the current decline in oil prices is not without its reasons. Factors such as weakening global demand, oversupply concerns, and geopolitical tensions have contributed to this downward spiral. The ongoing COVID-19 pandemic, geopolitical conflicts, and the transition towards renewable energy sources further compound the challenges faced by the oil industry.
Considering the gravity of the situation, it is crucial that we act swiftly. I encourage you to conduct thorough research, analyze market trends, and consult with your trusted advisors to determine the best course of action. While shorting oil presents an opportunity, it is essential to weigh the risks and rewards based on your individual risk appetite and trading strategy.
To seize this opportunity, I recommend closely monitoring the oil market, staying updated on the latest news, and utilizing technical analysis tools to identify potential entry and exit points. Additionally, it is prudent to set clear profit targets and implement risk management measures to protect your investments.
Remember, as traders, we are constantly navigating through uncertain waters, seeking opportunities amidst volatility. The current decline in oil prices presents a unique chance to capitalize on the market's downward momentum. However, I urge you to exercise caution, conduct thorough research, and make informed decisions.
Please feel free to comment below if you have any questions or require further assistance. Let us seize this moment and make the most of this unprecedented opportunity to short oil.
Crude oil, rebound and pullback
WTI crude oil has fallen in five of the past six trading days, falling by more than 13%, giving up all gains since September. Oil prices have now fallen back to key support near $82.0. The U.S. non-farm payroll data for September will be ushered in today, and short-term fluctuations in oil prices are expected to further intensify.
Looking at the daily chart of crude oil, oil prices stopped rising at the high of 95 and entered a correction state, with the K line being negative for three consecutive years. Although oil prices have not yet fallen below the moving average system, the current mid-term objective still maintains an upward trend. But from the perspective of kinetic energy, a change occurred first, and the bears gradually became stronger. It indicates that the mid-term trend is expected to enter a large-scale adjustment pattern. The K-line fell below the support of the moving average system. The original mid-term rise ended in stages, and it is expected to usher in a larger wave of correction.
Strategy: long at 81.5, short at 82.4
US Crude Oil 4H :Downtrend under 82.00USOIL
New forecast
The price perfectly fulfills my last idea and price reached to our first target .
The oil price shows further strong decline to reach the verge of the new expected negative target at 82.00, and is under continuous negative pressure that makes us likely to exceed this level and open the way for more losses in the immediate and short term, heading towards visiting the 80.56 and then 79.10 areas as next negative targets.
Hence, the downward trend scenario will remain likely for the coming period, keeping in mind that failure to break the 82.00 level will lead the price to attempt to recover and build an ascending wave targeting testing the 84.81 level initially.
The expected trading range for today is between support 82.00 and resistance 84.81 until breaching one of them .
Additionally ,Today News will affect the market .
support line : 82.00 , 80.56
resistance line : 84.81 , 86.17
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USOILCrude oil prices have fallen sharply and the trend has entered a bearish adjustment phase. The price is currently around $84.00, with strong downward momentum. If the decline continues, a break above the $80.00 support is possible. For now, traders will wait for a bullish reaction near the support and an opportunity to enter long positions.
Today, focus on the support level of 80.00 below and the resistance level of 90.00 above.
Crude oil: all the way down
Through the analysis of the hourly chart of crude oil, we know that yesterday’s market rebound was unable to continue the downward trend. It has now reached the 82.3 line and has slowed down the downward trend. We can clearly see from the attached picture below that a phased bottom signal has appeared again. In the last time When it appeared, it rebounded slightly and reached the No. 2 pressure level above and then fell back. At present, the No. 1 pressure level above has in turn become the first pressure. In the short term, we will continue to focus on shorting on rallies.
Strategy: 84.1 short
US Crude Oil 4H: Support further declineUSOIL
New forecast
The oil price presents new strong negative trades to break the 84.81 level and settle below it, halting the proposed positive scenario and heading towards achieving a further expected decline in the immediate term, paving the way for heading towards 82.00 and 80.56 as the next negative targets.
Therefore, we expect the bearish tendency to continue during the coming sessions, noting that breaching 84.81 and holding above it will lead the price to begin new recovery attempts in the immediate term.
The expected trading range for today is between support 82.00 and resistance 84.81 .
Additionally ,Today News will affect the market .
support line : 82.00 , 80.56
resistance line : 84.81 , 86.17
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Crude oil fallsCrude oil will continue to retreat when it falls. Crude oil fell sharply yesterday and closed down. The momentum of the oil price's opening decline has slowed down and has stopped falling. However, it is only a technical recovery, and the indicator signals are still biased downward.
Amid the general downturn in global financial markets, oil markets remain under pressure despite Saudi Arabia and Russia reiterating that they will continue to cut production until the end of this year. The rise in oil prices has stalled as market sentiment continues to deteriorate amid expectations that interest rates will rise for an extended period.
USOIL: Empty orders gain 10 points
The daily arrangement of 89.2 line empty, currently down 10 points, the stable can reduce the position out, the rebound of the European short position near 89.3 can continue to be empty, want to do more suggestions can pay attention to the 88.0 line support can hold, hold it is expected that crude oil is a wave of short-term rebound demand, so want to do more suggestions first pay attention to the 88.0 support break situation and then consider it, Do not break can light warehouse to do a short line, break is to give up multiple single
USOIL:Trading strategy
Oil has been rising because of OPEC production cuts, but now all indicators show that it is currently overbought.
There is limited room for growth now, so we are now shorting oil.
However, overbought will not reverse immediately and will last for a period of time.
But we can try the medium-term goal, the target point: about 86.
Short-term trading advice:
USoil:Sell:90.6-91.3
TP1:89.6
TP2:89.2
TP3:88.2
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Crude Oil: Today’s Strategy
Crude oil enters the market empty at 88
Continue to watch the decline, continue to watch 82, or even 75 line
Any position where crude oil rebounds is short. The current rebound of the big positive line is to enter the market for shorts. Once again, the 88 line enters the market for shorts. Get ready for a sharp drop to harvest. Crude oil rebounds, but it is still below the middle track of the Bollinger Bands. The short position is empty.
Operation strategy: short crude oil at 88, stop loss at 89, target at 82
Crude oil will fall in the short termCrude oil currently lacks news, and it is in a downward trend in the short term.Through the analysis of the hourly chart of crude oil, we know that yesterday the market first rose and then fell above the 91.60 line and fell back, and then reached the 88.30 line. It is currently hovering around 88.50, with no hope of short-term rise.
Gold: It may fall to 1800! ! !
Gold fell from around 1930 to around 1845, with basically no rebound, that is, the bulls surrendered directly. This trend is obviously a short trend, and the lows continue to fall. Even a rebound of a few dollars is directly swallowed up by the big negative line. This It’s short energy.
The four-hour line of gold price has entered the next level. It continues to be a negative line. The era of shorts is obviously coming. The sword below is pointing to the 1811 line, or even near 1615. Anything is possible on the K-line. At the same time, the 50-day moving average continues to run downward, continuing to compress the bulls' Space, there is no possibility of rebound at all, the K line is suppressed by the 50 moving average throughout the whole process, and it is pressed to the floor and rubbed, empty, 1834 empty
Crude oil: Crude oil rebounds to highs
U.S. oil WTI once fell below $89 and pushed down to $88. It fell as much as $1.48 or 1.7%. After turning up, it returned to the psychological integer level of $90. The more actively traded Brent December futures once fell to US$90 or fell as much as 1.6%, then turned higher and then returned to US$92. The futures about to be delivered after expiration turned higher and then rose above US$94. They had previously fallen below 93 US dollars. and $92.
Oil prices turned higher and broke off two-week lows, with U.S. oil returning to $90
In the third quarter, U.S. oil rose by more than 26%, and Brent oil rose by about 24%. Both are expected to record the largest increase in more than a year since the first quarter, and both oil prices will achieve cumulative increases in every month of the third quarter. Mainly because the prospect of tight supply outweighs concerns about economic and oil demand uncertainty in a period of high interest rates. However, some analysts worry that the U.S. government shutdown may make it difficult for Brent oil to rise to $100.
Go long near 92.0, stop loss: 89.90, the target is 92.0-95.0 if it breaks.
Crude Oil: Strategy Advice Short
The oil supply outlook remains tight, with Russia and Saudi Arabia both cutting output through the end of the year, while the number of operating oil rigs in the United States has dropped to its lowest level since the end of the year. U.S. refiners are also cutting production capacity, further tightening supply.
While these factors are expected to continue to support prices, overall economic concerns are limiting oil prices' upside potential. In the short term, oil prices will continue to be impacted by the above factors. Rising interest rates, a stronger dollar and worries about the global economy appear to be offsetting the benefits of limited supply. However, with the start of China's National Day Golden Week, a potential rebound in tourist numbers may bring some support to oil prices. But until global economic concerns are eased, oil market sentiment tends to be bearish.
Short-term strategy reference: High probability scenario: bearish above 90.6, target 90.0-90.6. Small probability scenario: bullish below 88.8, target 88.5-88.9 Market comment: RSI technical indicator runs downward!
US Crude OIL 4H : under 88.04 will open the way to drop USOIL
OUTLOOK
The price perfectly fulfills my last idea and price reached the second target .
The price of oil reached the verge of the second expected target at 88.04, awaiting the resumption of negative trading to break the aforementioned level and open the way for a further downward correction, recalling that the next target reaches 87.20.
Therefore, we continue to favor the downward trend during the coming sessions supporting by resistance line 91.35 ,taking into account that breaching 91.35 will stop the negative scenario and lead the price to attempt to restore the main upward trend again.
Additionally ,Today News will affect the market .
support line : 88.04 , 87.22
resistance line : 89.35 , 91.52
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