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WTI-OIL

WTI, Gap Has Been Filled, These Outcomes Possible Now!Hello Traders Investors And Community, Welcome to this analysis where we are looking at WTI 12-hour timeframe perspective, the recent events, the current formational structure, and what we can expect the next times, WTI has recently successfully filled the gap at around 36 as expected, if you did not saw this analysis already I highly recommend you watch it by going on my account, now WTI has shown some important heavy volatile price action to the upside bouncing at the gap and resulting in an impulse to the upside. This is why it is important at the moment to assess if WTI manages to move higher in the structure or falls back to visit lower levels again in this case I detected all the important consideration and outcomes we should look at at the moment and it is important to not get overly speculative on the rally currently occurring as there are still some factors that can result into the reverse perspectives. Looking at my chart you can watch the freshly established wave-count to the upside marked in red, this wave count will go on till there is resistance approached which WTI has at the rising resistance marked in blue, this is coming together with the horizontal resistance and building a coherent bearish cluster here marked in red where the possibility for an incoming pull-back is high, currently, it is not the highest possibility that WTI just shoots above this resistance, therefore, a first pullback is more likely which will happen till the next support marked in blue in my chart where WTI has some solid supports, overall this can be the origin to form the second major impulse to the upside, it has to be noted however that WTI really needs to hold this level and bounce there otherwise when falling below there will come lower levels within a high likelihood spectrum. In this manner, thank you for watching, support for more market insight, good day to you, and all the best! “Trading effectively is about assessing possibilities, not certainties.” Information provided is only educational and should not be used to take action in the markets.
TVC:USOIL
by VincePrince
5
Recovery in sightTwo days ago I posted an analysis, which expected a correction after a breakthrough of the significant level $41 which made the price to rise even higher without any correction. Now, when we have a clear evidence, that the correction takes place, a various scenarios can be made. Considering the fact, that we are in a continual uptrend (series of higher highs and higher lows) allows us to draw a Fibonacci retracement levels so we can identify the important market levels, especially 50% and 38,2% of Fibonacci. Those levels of the last swing are in confluence with the broked descending trendline, which still in some specific way attracts the price like a magnet. The price may not however dive towards 38,2% of Fibonacci, since the current support is really strong and might not drop the price so easily. The Fibonacci levels are rather a confluence levels that help us understand the market structure, but might not necessarily be touched. Once the price breaks the corrective line and closes above it, the long position would make sense.How far can the price rise is a serious question, because the closest significant resistance is $50. This trade however offers a likeable risk reward ratio with persuable arguments worth considering. Signals: - Fibonacci 50%-38,2% retracement - Broken descending trendline and its following correction - Significant support zone $40-$41
TVC:USOILLong
by gatsby01
6
Could we see a full oil recovery this year?Some quick numbers – Globally, there are over 15 Million Coronavirus cases and 618,000 deaths due to the pandemic. An estimated 47 million people may lose their jobs in the United States alone. Oil dived into negative, an unprecedented move. However, the NASDAQ is having its best year having made a V shape recovery, Elon Musk is the 13th Richest person in the world surpassing Warren Buffet, and masks are all the rage. However, this optimism hasn’t translated into the oil markets. Although we’ve seen a double in price from its March lows, March lows were around $16-$20 a barrel, which is fiscally and financially unsustainable for all oil-producing companies. This V-shape recovery in equities was caused by investors and traders baking in potential future earnings and using it to value the stock price now. The main problem is that there is no set rule as to how far ahead in the future investors and traders should look forward – enabling essentially an “oh, they’ll be fine after the Coronavirus” mentality. Oil does not have this luxury. Oil needs to be delivered every month. This means speculators and traders (in the physical market) can’t wait for future results. If the equity markets look into the future, the spot market looks at the now. With Gold, a safe haven asset reaching all-time highs and Oil struggling to get back past its boom days, both commodities recognize the current risks the world faces due to the Coronavirus. We can see that in the United States, the recovery in oil is stalling due to a second wave of the Coronavirus, forcing people to travel less and stay at home more. Cushing Crude oil stocks are not coming down from their all-time highs, and Petrol demand is down 100,000 barrels per day (b/d). We may see a spread between the US benchmark WTI and Brent Crude, the global benchmark as travel around the world picks up relative to the United States. However, long term trends with government stimulus for greener alternatives to fossil fuels may prevent oil from ever getting back to its hay days. With Joe Biden putting clean energy at the forefront of his $2 Trillion campaign and the EU 750 Billion Euro recovery fund pledging 1/3 of the fund to fight climate change, oil sees pressure downwards both from the demand and supply side. The fundamental issue with oil is the opportunity cost dynamic relative to other energy sources. With oil prices quite low, renewable resources are expensive in comparison to oil. However, with billions of government stimulus, alongside the supply of oil slowly drying up, exploration for new oil reserves would yield a lower return, increasing the opportunity cost and oil price. While a restriction in supply and an increase in price would be good for oil producers in the short term, with everything else equal, a shift to renewable energy will ensue. Energy Strategist at think-tank Carbon Tracker, Kingsmill Bond, stated that “the world has 50 years of proven oil reserves.” Furthermore, he stated, "the prospect of declining demand as a result of electric vehicle adoption and policy changes means we no longer need a huge oil exploration industry tooled up forever-rising consumption – the talent and resources of the industry can be deployed elsewhere.” However, this has not stopped some producers from making big bets. Chevron acquired Noble energy in an all-stock deal for $13 Billion in amidst of bankruptcies in the oil industry due to the Coronavirus. For now, the Coronavirus is controlling the oil markets. However, we may see a slow shift out of fossil fuels as time goes along.
TVC:UKOIL
by BlackBull_Markets
BRENT oil – my point of view. The 2nd variant! Continuation ! The 2nd Variant: The 2nd variant in my point of view at the present moment consists of two variants. The 2nd variant of the course of events refers to as the notorious 4th wave can take as a simple correctional formation ABC, so as a variably complex formation ABCDE ( other variants are also possible and at the present moments it is very difficult to say how the wave structure will be formed there is no structure), two variants in the simplest way I have tried to show on the chart, as I see them at the moment Both two variants reflect more possible, classical variants of correction development in 4 waves, taking in consideration the rules of interchanging etc. 😉 Conclusion: The chart from the technical point of view tells that the price is tapped in the bearish trend, in the sideway movement, in the range with the upper limit of 60 $ and with the lower limit of 10-15 $. In my opinion such situation will continue for the following 6 or even 10 years, with the call to the lower limit. The fundamental image also approves at the present moment this variant of the course of events in accordance with energy alternative types development! ************** Important! Once again for understanding, the wave structure, patterns, and graphic models tend to change or change the structure, therefore confirmation is important. The author does not sell anything! He does not give signals to enter or exit a deal! Does not take funds into management! Does not educate others on a paid or free basis! Well and so on 😉 Remember! Forecasts of financial markets are the private opinion of the author. The current analysis is not a trading guide. The author is not responsible for the results of work that may arise when using trading recommendations from the submitted reviews.
TVC:UKOIL
by bavarrr
WTI CRUDE OIL | CORRECTION | UPDATINGOil rushed down and I closed my short. What was the purpose? Count five waves from the end of wave b (graph on the left) and close the short. Wave 2 or b may continue. For example (the graph on the left) it can be a larger zigzag, in the wave of which the third wave ends. Well, or even wave 2 or b can go double zigzag (why not?). But when you trade corrections (not trends), it is important to follow the original plan, and it is now executed, so I left the trade. Waiting for the next COT report
NYMEX:CLN2020
by MinnieTrading
1
CL1! - Crude Oil - WTI - H4 - Weekly Analysis - Bullish TrendCL1! - Crude Oil - WTI - H4 - Weekly Analysis - Bullish Trend We have a major Bullish Trend, the price made a pullback on the -0.236 Fibonacci Level that is a support zone. Now we are waiting for a breakout on the 34.70$ with a closing candle H1 above 34.70$ to enter long. Our target will be @ the -0.618 Fibonacci Level @ 36.70$ ■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■ Entry: 34.70 | Stoploss: 33.70 | Takeprofit: 36.70 | ■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■ If you like this idea please click the like button to support us, thanks. ■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■ Disclaimer: All information and ideas provided is for educational purposes only. It is not a recommendation to buy or sell. ■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■
NYMEX:CL1!Long
by Sami_Derti