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Should the CRUDE OIL rally from here_UPDATE!! I had posted a view on Crude oil that wave v should begin and rally till around 97$ mark a few days back. Here is a more detailed 4hour chart of the same with updated and detailed wave counts as to give you the idea what my views are on the same. Not gonna lie the fall below 76$ mark was not anticipated and did give a chill but the crucial wave 1 high of 74.69 was protected(and so was my wave count:)). 74.96 was the 4th wave low(yday's low). The view remains the same till now with a slight modification of the target to 95$ now. 74.69 can even be used as a SL(since if this is violated that would indicate much more downside in Crude and make it pointless trying to go long on it) Note*_ This view is based on personal observations and opinions. Please access your own risk and analyze any instrument thoroughly before taking up any financial positions.
TVC:USOILLong
by neeraj_2_sharma
1
Signs of oil move.Hi. I'm starting to learn Lorentzian Classification. Thought it would be a good idea to take a chart that is hard to figure out with my standard methods (like Ichimoku). OK, let it be WTI Crude Oil. I additionally adjusted native indicator settings and added: - Source hlc3 - Show default / dynamic exits - Use Worst Case Estimates - Use EMA filter period I turned on 3 month chart. Oh. Interesting. So, those green crosses are the default exits. It is interesting that every time after printing such a signal the candles go under the midline. Ok, I'll just watch it. Oil will probably be cheaper later this year than it is now. However, it may happen next year.
TVC:USOIL
by averkie_skila
2
Crude oil prices have reached bottom Issues of demand and supply remain key considerations for crude oil. There are currently some signs of support for crude oil. Oil prices fell below 75 this week and have been repeatedly testing upwards around 75. If the current price falls further, market participants will worry about an economic recession. In the short term, crude oil returns to the 80 area and continues to test back and forth. All in all, the crude oil market's recent performance has been characterized by volatility, but signs of support have emerged. While questions surrounding demand, supply and geopolitical impacts remain, the potential for a short-term rebound is clear. It is unlikely that crude oil will fall sharply again, and the overall outlook is bullish.
VANTAGE:CL-OILLong
by Anthony-Ryan
Short continuation Crude oil broke straight down yesterday, with the high point at 81.0, the lowest point at 77.0, and the closing price at 77.11. The daily level includes a big negative line. The high price did not break the previous high, but the low price broke the previous low, showing a downward trend. The daily line of crude oil showed an N-shaped downward break pattern on the general trend, and the market outlook continued to be bearish. Crude oil shorts have broken through to open up space, and the short-term outlook is expected to continue. Short-term resistance levels focus on the 78.6-79.5 and 75.0-74.0 support levels.
VANTAGE:CL-OILShort
by Anthony-Ryan
Oil says nothing flattering about the global economyWest Texas Intermediate crude oil hit our price target of $80 and continues to slide lower. At the moment, it trades slightly above $76, which marks a decline of nearly 20% from the highs in late September 2023. Today, we want to talk concisely about two things. First, China’s demand for oil began to slow down again after slightly picking up during the summer, which is reflected in the latest data revealing the rising level of the country’s stockpiles (do not forget, China also experienced a significant drop YoY in exports for October 2023). Second, Saudi Aramco posted 23% lower net income in the third quarter of 2023 versus the same time in 2022. All in all, we presume that does not tell anything flattering about the global economy. Technical analysis Daily time frame = Bearish Weekly time frame = Bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
8
Crude oil prices will continue to fall Crude oil has been in a downward and volatile trend recently, and the increase in U.S. crude oil production has eased the market shortage. Although the Palestinian-Israeli conflict has played a certain role in raising oil prices, major oil-producing countries in the Middle East such as Saudi Arabia and Iran have not participated in the war and have not jointly reduced production. OPEC+ has reduced production many times since last year, So Middle East oil production cuts are less likely. If the Arab states and Iran are involved in a war, they may jointly implement oil production cuts or embargoes, which will trigger an increase in oil prices. Crude oil continues to fluctuate downward, trading in the range of 80-84.5
VANTAGE:CL-OILShort
by Anthony-Ryan
Crude oil analysis on November 7 After crude oil rose from a low of 80.66 to 82.24 yesterday, it has been unable to break through the key resistance level and began to fall to the bottom again today. Yesterday's upward trend in crude oil was also due to the current shortage of crude oil in the market and the US market situation. Crude oil has strong support at 78.8 and resistance at 82.5. Today's market is more inclined to correct upward. Bulls are strong and are expected to break through 82.5 today Follow updates
VANTAGE:CL-OILLong
by Anthony-Ryan
Oil is likely headed to $70 per barrel in 2024For the past four trading sessions, West Texas Intermediate crude oil oscillated between $83 and $85 per barrel. At the moment, it trades near the lower end of this range, and technical indicators on the daily chart continue to grow bearish; the same applies to technicals on the weekly graph. As a result, the likelihood of oil slumping below $80 in the short/medium term increases. This view is also supported by the weakening global economy and the latest data (preliminary) from Saudi Arabia (the world’s second-largest oil producer), which revealed the country’s economy shrank by 4.5% YoY in the third quarter of 2023 (the oil activities declined by 17.3%, while non-oil and government activities rose 3.6% and 1.9% respectively). Unless there is any significant disruption to the supply in the Middle East amid the Israel-Hamas War, we believe the crude oil is headed lower. With that said, we want to set our price target to $80 per barrel in the short/medium term and next year’s price target to $70 per barrel. Illustration 1.01 Illustration 1.01 displays the daily chart of USOIL. The yellow arrow indicates a bearish crossover, confirming the trend reversal. Technical analysis Daily time frame = Bearish Weekly time frame = Slightly bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
4
Crude oil faces rising opportunities The crude oil market fell for a second straight week on renewed signs of weak demand after the premium over the risk of the Palestinian-Israeli conflict faded. However, weak data from the U.S. employment report supported market speculation that the Federal Reserve may stop raising interest rates, which provided some support for oil prices. Saudi Arabia's announcement to cut crude oil production will further push up oil prices. A tight market for crude oil is supporting crude prices. The current support level of .80 has been continuously tested but has not fallen below. Let’s see if crude oil can break through 85.5 in the future
VANTAGE:CL-OILLong
by Anthony-Ryan
USOIL to find sellers close to market levels?WTI - Intraday The AB=CD formation target is located at 70.19. Reverse trend line resistance comes in at 83.91. Bespoke resistance is located at 84.06. Preferred trade is to sell into rallies. The medium term bias remains bearish. We look to Sell at 84.00 (stop at 85.50) Our profit targets will be 80.20 and 79.60 Resistance: 83.91 / 84.06 / 89.83 Support: 80.19 / 77.64 / 70.19 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:WTICOUSDShort
by OANDA
The subsequent direction of crude oil The rebound of crude oil has strengthened again, and the 80.8 support node has begun to rebound. The current increase has reached 82.8, correcting yesterday's unilateral downward trend. However, if the current rise in crude oil cannot break this week's high of 85, it will be more likely to fall to a new low. The daily MA5 moving average and MA10 moving average moved down to 83.3 and 84.3 respectively. To put it simply, if crude oil cannot rise to around 85 again, it will fall below 80. Crude oil continues to be bearish in the short term. Stay tuned for continuous updates of posts.
VANTAGE:CL-OIL
by Anthony-Ryan
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.
TVC:USOIL
by fxtraderanthony
Pay attention to the key position 85.85 Crude oil has experienced two consecutive weeks of range-bound volatility. Attempts to break above resistance failed. The shortage of crude oil in the market is also constantly easing, limiting the upward range of oil prices and reducing investors' willingness to chase increases. The current low inventory situation will also limit the room for correction of oil prices, which means that oil prices will most likely remain within the range for some time to come. , pay attention to the rhythm and control the risks. The daily trend of oil prices still remains below the mid-range and short-term moving averages. The indicators in the attached chart also maintain the development of bearish signals. The short-term trend is still likely to fall back. But combined with the weekly chart, crude oil is obviously bullish. Pay attention to the resistance levels of 85.85 and 87.5 and the support level of 82.3. 85.85 is a bullish key level
VANTAGE:CL-OILLong
by Anthony-Ryan
2
The 1. Chapter of WTI.Oil - Highly flammableTwo scenarios. One Long. One Short. Fundamentals: - Scenario 1 (Orange arrow) Target: Next resistance level (upper red rectangle ). Recent swing top. Requirments: - Monthly close above the orange rectangle. - Higher swings above it Invalidation / SL: - Fall under orange rectangle AND generating lower swings. Time duration: days, weeks, months, years... ;) Scenario 2 (blue arrow) Target: Next support level Requirments: - break under orange rectangle - break under 50% fib Invalidation / SL: - Break above orange rectangle - No Break under 50% Fib Time duration: days, weeks, months, years... ;) Good luck
TVC:USOIL
by a_tale_of_bulls_and_bears
Markets and technicals bearish Market analysis The supply and demand of crude oil has increased but the risk of the Palestinian-Israeli conflict has not diminished. At present, oil transportation in the Middle East has not really been affected by this conflict, which is why oil prices have been experiencing corrections. Without further escalation in the Israeli-Palestinian conflict, crude oil markets were bearish. Based on technical analysis, crude oil is currently falling in a unilateral step-wise manner, bottoming out and rising after hitting daily support. The upper resistance level has moved down to 86.2. Pay attention to the support level of 82.5, which is still the watershed between bulls and bears in the market outlook. Overall analysis, crude oil has a bearish trend
VANTAGE:CL-OILShort
by Anthony-Ryan
The U.S. reveals a trick up its sleeveA few weeks ago, we expressed our bewilderment at the U.S. administration and its handling of the oil stockpiles. Despite oil plummeting below $70 during the summer, officials did not take the initiative to refill the Strategic Petroleum Reserves (also canceling plans to buy oil in July 2023), prompting us to speculate about what trick the administration could have up its sleeve. Finally, last week, we might have discovered exactly what it was when news erupted that the United States lifted some of the sanctions on Venezuela, allowing it to produce and export oil to its chosen markets for the next six months without limitation. While Venezuela’s oil production is only about 800,000 barrels per day, the news announcement is still quite a big thing as it will enable U.S. entities to buy crude oil and help alleviate rising crude oil prices (especially if the country ramps up production in the coming months and the global economy continues to slow down - presuming no broad conflict will affect oil supply in the Middle East). Now, on the topic of technicals, we are paying close attention to the Sloping Support/Resistance. If the price breaks back above the resistance (and holds the ground), it will be bullish. However, a failure will raise our skepticism about more upside. In addition to that, we are watching MACD, RSI, and Stochastic on the daily chart. To support a bearish case, we would want to see all of them continue declining. Contrarily, to support a bullish case, we would like to see MACD reversing and breaking above the midpoint. Illustration 1.01 Illustration 1.01 shows the daily chart of USOIL and a simple setup with bullish prospects above the sloping support/resistance and bearish prospects below it. Illustration 1.02 Illustration 1.02 displays the daily chart of MACD. The yellow arrow indicates a bearish breakout below the midpoint. If MACD fails to rebound back into the bullish area above zero, it will raise the odds for a continuation lower. Illustration 1.03 Illustration 1.03 shows the daily chart of USOIL and simple moving averages. The yellow arrow indicates an impending bearish crossover between the 20-day SMA and the 50-day SMA. If successful, it will bolster a bearish case. Technical analysis Daily time frame = Bearish (with weak trend) Weekly time frame = Slightly bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOIL
by Tradersweekly
4