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WTI: Screeeeeech!Can you hear WTI’s brakes screeching from the chart? Well, we definitely can! Quite vehemently, WTI has hit the brakes just short of the bottom of the blue zone between $91.70 and $87.08 – and rightly so! There isn’t all that much room left to finish wave b in blue! In fact, WTI should complete it no later than the support at $85.73. Then, it should turn around and climb upwards, gradually crossing the resistances at $101.88 and at $105.24 to enter the turquoise zone between $107.12 and $119.94. There, it should finish wave b in turquoise, before moving downwards again. However, there is a 32% chance that WTI could drop below the support at $85.73, which would then trigger further descent.
NYMEX:CL1!
by MarketIntel
How The European Energy Crisis Is Affecting The Euro‍The euro-dollar exchange rate captures the value of the euro in terms of U.S. dollars. It’s one of the most widely tracked and significant global currency indicators, given that Europe is a major economic region with a strong currency, and many international financial transactions are denominated in euros. Moreover, the euro has been under pressure in recent months because of renewed concerns about European debt and fears that the European Central Bank may curtail its massive stimulus program too early (Injecting Billions of Euros into Eurozone debt - pandemic-era bond-buying program), which would make it harder for countries like Italy to service their debt. With all this in mind, let’s take a look at why the Euro Declined Against the US Dollar and hit a 20 Year Low recently. The European Energy Crisis Energy is a critical aspect of any economic outlook. As such, it is no surprise that Europe’s energy crisis has exacerbated its economic problems. Europe currently relies on Russia for approximately 50% of its natural gas. Europe’s heavy reliance on Russian gas is a major source of tension between the EU and Russia. The EU has placed sanctions on Russian energy firms, making it difficult for them to acquire equipment and technology they need to develop their energy infrastructure. That has left Europe with few viable options for alternative suppliers. Effects of EU Sanctions against Russian The EU’s Largest Member States Are Suffering The most significant economic problems can be found in Europe’s largest economies: Italy, France, Germany, and Spain. And those four economies are suffering because of the energy crisis, a weak euro, Brexit, and rising interest rates. The euro has been trading at a relatively low level against the U.S. dollar for years. However, the euro’s weakness has recently accelerated, as the European Central Bank adopted a more hawkish tone. That has made it more expensive for other countries to buy euros. Ergo, pushing up borrowing costs for euro-zone countries that are heavily indebted like Italy, France, and Spain. It has also made it more expensive for the European Union’s most powerful economies to service their debt. Political Instability It’s important to mention political instability because it has been an ongoing issue in Europe for years, particularly in countries like Italy, France, and Germany. That’s led to significant political uncertainty that has kept investors away and made it more difficult for these countries to get the strong economic growth they need to deal with their debt problems. The United Kingdom has been a major trading partner with the EU, The political environment surrounding the Brexit has led to significant economic uncertainty. Eurozone Growth Is Stagnant One of the most important economic metrics is GDP growth, which is the rate at which an economy is producing goods and services. Eurozone GDP growth has been relatively low for years, and it recently fell to a 17-year low. That’s largely due to lack of investment in major economies like France, Germany, and Italy, which are the most significant contributors to the eurozone’s GDP. When the energy crisis hit the EU, businesses stopped investing in plant and equipment necessary for growth. As a result, GDP shrank throughout the region. That’s forced the European Central Bank to take strong action, including negative interest rates and quantitative easing. However, those policies have had only limited success, as Europe is still facing an investment drought. European Union Debt Crisis The EU debt crisis emerged in 2010 when major economies like Italy, Spain, and Greece racked up unsustainable debt loads. Although it has faded in recent years, it remains a major issue, particularly for Italy and Spain. That’s because the two countries have large debt loads, and they are suffering from slower growth, making it harder to service that debt. That’s created significant economic uncertainty, as investors have been reluctant to lend to these countries. The European Central Bank has stepped in, making it easier for these countries to borrow, including buying their debt. However, the ECB’s actions have also made it easier for other EU countries to borrow, which has contributed to the rise in interest rates that are hurting France and Germany. ECB Tapering As the energy crisis worsened and economic growth was weak throughout the European Union, the European Central Bank boosted its monetary stimulus to stave off a deeper downturn. That included purchases of billions of euros of assets, including government bonds, per month. That quantitative easing program has been credited with helping Europe’s major economies, particularly Germany, avoid a full-blown economic crisis, as well as keeping the value of the euro low. That has also bolstered economic growth in other EU countries, like France and Italy, that rely on exports to Germany. However, with the energy crisis easing and economic growth gaining momentum, the ECB began to taper its QE program, reducing monthly purchases to just €30 billion. boosting the borrowing costs of the European Union’s larger economies. Oil Price Impact The energy crisis has also driven up the price of oil and other commodities. That has put additional pressure on the EU’s most significant economies, as their industries have been affected by higher prices. That’s particularly true for France and Italy, which have been among the hardest hit by the energy crisis and oil price surge. That’s made it more difficult for those economies to export goods and services, which has contributed to the stagnation of their GDP. Conclusion The European energy crisis has been a major problem for the EU. It has driven up the price of oil and gas, while making it more difficult for countries to import those resources. That has put the EU at an economic disadvantage when compared to other major regions, like the United States. That’s made it harder for the EU to recover from a variety of economic issues, including a low growth rate, high debt levels, and political instability. It remains to be seen if the EU can overcome its energy crisis and get back on track to economic prosperity. EUROZONE INFLATION RATE Important Upcoming Events that will cause volatility in the market
by EQTSHARES
30
WTI oil - Change in a rhetoric of the OPECIn our last idea on oil, we outlined a scenario for a downtrend correction if the breakout above the sloping resistance took place. A few days later, the breakout occurred, and technical indicators turned bullish. Additionally, a slight change in the rhetoric of OPEC came, with Saudi Arabia and other members hinting at looming production cuts. This development forces us to abandon our price targets because of OPEC's ability to maintain a floor or a lid on oil prices. We will update our thoughts as we get more information concerning the cartel's production. Until then, we abstain from setting price targets for USOIL. Illustration 1.01 The chart above shows the bullish breakout above the prior resistance. Technical analysis - daily time frame RSI is bullish. The same applies to Stochastic and MACD. However, MACD stays below 0 points; if it breaks above, it will be bullish. DM+ and DM- performed bullish crossover. Overall, the daily time frame is bullish. Technical analysis - weekly time frame RSI strives to reverse to the upside; the same applies to Stochastic and MACD. DM+ and DM- are bearish. Overall, the weekly time frame is neutral/slightly bullish. 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:USOILLong
by Tradersweekly
15
USOIL 100.00 The chart shows the uptrend. USOIL on the 4-hour chart bounced for the second time above the 91 - 92 area. The market after testing the 0.618 Fibonacci support is now trading for further resistance. Technical analysis - daily time frame RSI is bullish. In general, the daily-weekly time frame is bullish. DISCLAIMER: This review is not intended to encourage the buying or selling of any particular security. Also, it should not be a basis for any trading action by an individual investor. Therefore, your own due diligence is highly recommended before entering into a trade.
FX:USOILLong
by UnknownUnicorn9051525
USOIL - The downtrend continuesIn the first quarter of 2022, we warned market participants about the peaking conditions in the oil bull market. Since then, our predictions came true, and USOIL dropped over 30% from its highs, hitting our 100 USD and 90 USD price targets. At the moment, we still remain bearish on WTI oil with a medium-term price target of 80 USD. Our views are based on technical and fundamental factors. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Illustration 1.01 Illustration 1.01 shows USOIL down approximately 33% from its 2022 highs. At the moment, we pay close attention to the sloping resistance; a breakout above it will be a bullish sign, potentially hinting at the correction of the downtrend. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is 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
16
WTI BULLISH OUTLOOKWTI rose in value in response of potential OPEC+ cuts and conflict in Libya. This possibility of supply cuts was enough to offset the effect of the strong US dollar. WTI broke the resistance line of the ascending triangle pattern, a bullish outlook, supported as well by the RSI and MACD indicators. The instrument might test its previous support level at 99.70, but if the break turns out to be false, the instrument might test its previous support at 94.70 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTILong
by legacyFXofficial
USOIL 23rd AUGUST 2022Oil prices briefly surged in mid-trade due to a push to raise the Fed's benchmark interest rate. However, prices eased back after investors believed that the US central bank's policy this month was to maintain interest rates. Another factor, the US dollar strengthened again to its highest level in five weeks, which limited the increase in crude oil prices. This is because oil becomes more expensive for buyers with non-US dollar currencies. US Dollar Index Oil prices will not be too bearish, this is due to the prospect of higher demand entering the winter season.
TVC:USOILLong
by DNP-FX
9
Crude WTI Oil (Is the bottom IN?)View On WTI Oil (18 Aug 2022) We are seeing some possible bottoming on Oil and $80~$85 will be a strong support. I foresee it may swing back UP. Take it slow and $100 will be nice. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
OANDA:WTICOUSD
by SonicDeejay
WTI Bearish breakout happening now!Hey guys! We havent been to active but here we go again! We are taking shorts (swing trades) on WTI based on the current breakout + retest of the support turned resistance. Our Stops are around the 94.2 level while our Take profits are between 80 and 85, we will seek to compound the shorts as the market moves. We rarely take swing positions but couldn't resist this one. Ofcourse we are just as ready to buy as we are to sell (one of our key trading rules), so if this fails, we will go long IF THE MARKET indicates a buy opportunity! Are you trading WTI?
OANDA:WTICOUSDShort
by PrimedGroup
USOIL 11th AUGUST 2022The United States posted an increase in inventories of 5.5 million barrels in the past week. The realization was higher than the expected 73,000 barrels. Gasoline products supplied also rose in the last week to 9.1 million barrels per day. The figure marks a 6% decline in demand over the last four weeks compared to the period last year. From a fundamental point of view, the oil market continues to monitor the development of oil supply from Russia to Europe via the Druzhba pipeline, which was resumed earlier this week. The market is also awaiting the release of monthly oil data from the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) scheduled Thursday.
TVC:USOILShort
by DNP-FX
10
WTIOil in a bit of trouble here, likely entering a 6-10 month bear market correction. Downside target can hit the 618% of the entire 5 moves off the 2020 lows when WTI went negative. Currently a lower time frame A wave has bounced off the 618% fib retracement level of the 5th wave. But we must correct that entire 5 up not just the 5th wave. We should bounce into a B wave soon on the daily before making the larger C wave down close to $80. After that The HTF weekly A wave is complete and bounce again into HTF weekly B wave before finally nuking to $50 wave C to complete the entire move. You better BTFD IMHO guys because after this is done oil prices likely to run back turbo over $130.
FX:USOIL
by Big_Mike716
1