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OIL GO LONG Crude oil reached the 88 point three times yesterday and then fell back to today's opening point of 87.27. But support continues to rise. In my post yesterday, I talked about how crude oil will continue to try to break through 88 and then drop to range trading. Everything is as per my analysis. We have mentioned too many times regarding the macro data of crude oil production reduction, and currently we are waiting for the target of 90. A rebound zone will then appear. Thank you for your comments and likes.
VANTAGE:CL-OILLong
by Anthony-Ryan
Target 90 Crude oil prices rose to a nine-month high after Saudi Arabia and Russia extended notices of voluntary supply reductions until the end of the year. After hitting a high of 88, crude oil fell into a high and volatile situation. It has tested the suppression of the 88 line three times. With the high point clearly suppressed, the bulls encountered resistance when rising, while the bears had strong support below 85.6. It is only a matter of time before crude oil breaks through 88. Bearish in the short term, bullish in the long term.
VANTAGE:CL-OILLong
by Anthony-Ryan
WTI target 90-95 After a high level of crude oil, the crude oil has fallen into a high shock situation. At present, the suppression of the 87.5550 front line has been tested three times. After the end of the end of the week was unsuccessful, it fell again. The current price is near 86.30. In the case of significant suppression of high points, the long -headed rise encountered resistance, and the back -to -step can not be strongly supported below 85.550. After there is a chase in front of the front, the upper cannot be broken, and the support cannot be broken. To enter the repeated rhythm of the interval, the short -term steps around this interval to step back and more participation. For four hours of reference, it cannot be found that the current long -headed operation is still intact. There is no excessive step back, and the back step has not fallen below the previous low. We insist on unchanged ideas, and at the same time, crude oil will come to 90.00 again, or even near 95.00. Therefore, we are still involved in the low -mindedness of our consistent persistence, and we will focus on stepping on the 85.550 support opportunities to involve the multiple orders during the day.
BLACKBULL:WTILong
by Jerome-Leon
XTIUSD( US OIL )LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
FXOPEN:XTIUSDLong
by ForexPlanet20
Crude oil production cuts postponed to December Mid-term trend of crude oil: After the correction in August, oil prices still did not stop the rise in oil prices. Saudi Arabia and Russia announced crude oil production cuts in July 2023, originally scheduled for a one-month period, and the latter two extended the additional production cuts twice to the end of September, and this time, another extension by the end of December exceeded market expectations . The prospect of the U.S. economy avoiding a deep recession helped boost oil demand and prices. According to the small cycle chart of crude oil, it is in the rising stage. Crude oil is currently running above the key moving average EMA144. It is expected that this moving average will continue to support oil prices and is more likely to continue to be bullish.
TVC:USOILLong
by Anthony-Ryan
1
WTI Will return to the recent high of 84.87 The current global economic outlook makes many bullish investors apprehensive, but there are two factors that will cause bullish investors not to change their minds. 1. The United States has reduced the number of drilling rigs for nine consecutive months, and Saudi Arabia may extend its production cut plan, which will lead to a constant shortage of crude oil. 2. U.S. fuel futures rose to a seven-month high. Once it returns to around 81.22 on the 21-day daily moving average, it will revisit the recent high of 84.87
TVC:USOILLong
by Anthony-Ryan
USOIL - Large Scale Distribution at PlayWTI has been steadily appreciating in price since May 2020 with the peak being reached on 08-Mar-2022 at $129.42/bbl. Price swept the critical highs of $114.8/bbl twice then retracted into its current range. My previous write up on the asset was bullish with continued upside potential up to $140$. Before it got there I was expecting a sweep below the range low at $92.96/bbl before the move higher takes place. We are at that point right now. The sweep under the range occurred on 14-Jul-2022. From a weekly perspective, the price is trapped in the range as outlined between $129.42 high and $92.96 low. There are two options, the price continues to trade within the range or price drops below the range toward the $60 level. I prefer the latter scenario as I believe the 28-Feb-2022 and the 07-Mar-2022 weekly candles are exhaustion candles where institutions offloaded the majority of their long positions. A meaningful retrace is expected despite all the geopolitical turmoil as the risks in my opinion are already priced in.
TVC:USOILShort
by DenisRisticFX
1
USOIL to drop toward $76 per barrel?After reaching nearly $85 per barrel three days ago, USOIL drifted lower with the global stock market. In the process, it retraced to its 20-day SMA, which acts as a significant support level. Furthermore, RSI, MACD, and Stochastic started to reverse and point to the downside on the daily chart. This bearish development could coincide with a short-term trend reversal and foreshadow USOIL’s return to the area between $75 and $76 per barrel. We want to see a bearish crossover between DM+ and DM- (on the daily time frame) to further bolster the bearish case. In addition to that, we would like to see the previously mentioned indicators continue to develop bearish structures. Illustration 1.01 Illustration 1.01 displays the daily graph of USOIL and two simple moving averages. The yellow arrow indicates a price retracement toward the 20-day SMA, which currently acts as a support level. If the support fails to stop selling pressure, it will raise the bearish odds. Technical analysis Daily time frame = Bearish Weekly time frame = Neutral 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
WYI overall analysis The overall trend of crude oil yesterday was like a roller coaster, but last night it formed a V-shaped reversal. It fell below the 79.5 resistance within the day and rebounded again, but failed to break through the previous day's low of 77.6. We went long at the low point of 77.6, and successfully ushered in a big rise, with a stop profit of 78.6! From the daily line, the moving average is still in a short position, but the two closing lines are very long, indicating that the double-bottom support below 77.6 is effective, mainly because H4 came out of the stop loss trend and then fell back. A golden cross appeared on the moving average, and oil prices fell. If it breaks through the middle rail, the adjustment of crude oil is over. You can safely look at the points around 78.6, increase your position at 78.1, hold 77.6, pay attention to 79.5-80.1, and continue to increase your position.
BLACKBULL:WTILong
by Jerome-Leon
Short crude oil and keep making moneyThe crude oil trading strategy shared with you today, USOIL: @79.2-79.4 Sell, TP: 78.5. We made a good profit again, and the lowest crude oil fell to around 77.6 today. Similarly, our crude oil trading strategy has successfully reached my expected profit target. Congratulations here to all friends who keep up with trading strategies. Looking at the current structural trend of crude oil, although the local trend of crude oil has rebounded structurally, overall, the global manufacturing data is weak, increasing demand concerns. In addition, the short-term trend of crude oil fell below the lower support of the range. Although oil prices rebounded vigorously after hitting a new low, it only eased the continuity of the decline and failed to change the direction of the downward trend. Therefore, crude oil still has downside risks in the short term. Therefore, short-term trading of crude oil is still dominated by shorting at high levels. There is no fluke in the market, we need more time to look for opportunities and be good at seizing them. And I spend a lot of time every day researching the market and profiting from it. Similarly, I also make more detailed trading plans and trading signals based on the market every day. The article has a certain lag. In order to grasp the market dynamics and trading plan in time, you can follow the bottom of the article to master the wealth code and create your own wealth!
TVC:USOILShort
by AntonioWilson