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USOIL - A gloomy outlook for WTI oilA few weeks ago, we noted that we believe USOIL peaked and is headed lower. Indeed, we set a long-term price target of 90 USD. Now, we would like to change this price target to medium-term and set a new long-term price target of 80 USD. Additionally, we would also like to set a short-term price target of 95 USD. Illustration 1.01 Yellow arrows indicate the recent bullish breakout (above the trendline) and subsequent loss of momentum. Technical analysis - daily time frame RSI, MACD, and Stochastic are bearish. The same applies to DM+ and DM-, which recently performed the bearish crossover. In addition to that, ADX halted its decline, suggesting the resumption of the bearish trend. Overall, the daily time frame is bearish for WTI oil. Technical analysis - weekly time frame RSI and Stochastic are developing bearish structures. MACD performed the bearish crossover. DM+ and DM- show bullish conditions in the market. However, ADX signals that the bullish trend is losing momentum. 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 serve as 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
10
USOIL Potential for Bearish Dip | 20th April 2020We are expecting a potential for a bearish dip from our sell entry level of 104.43 which is in line with a horizontal swing high resistance towards the take profit level of 99.83 which lines up with 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Alternatively, price might break the key pivot level and rise up to the stop loss level of 108.47 which lines up with 138.2% Fibonacci extension and 61.8% Fibonacci projection. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
TVC:USOILShort
by Genesiv
WTI oil - The EU ban on Russian oil risks higher pricesRecently, we stated that USOIL has bottomed out and is due to drift lower during the rest of the year. We continue to maintain this stance. However, over the past few days, there has been an increase in talks about the EU ban on Russian oil. Indeed, several media outlets reported that the EU is about to proceed with this step. Though, it is just a rumor at the moment. But if the EU manages to ban Russian oil, it will force us to abandon bearish bias for USOIL. Actually, in such a case, we think the oil ban would revive the rally and drag prices higher, possibly reaching a new high. Illustration 1.01 The picture above shows USOIL on the daily time frame. It also shows the resistance at a slope (white line) and the bullish breakout above it (indicated by the yellow arrow). We will look for a potential breakdown in price and invalidation of the bullish breakout. Technical analysis - daily time frame RSI and MACD are bearish. However, MACD is trying to break above 0 points into the bullish zone. If it manages to do so, it will bolster the case for USOIL. Stochastic reversed to the upside and points in the bullish direction. DM+ and DM- show bearish conditions in the market. However, ADX contains a low value, indicating no significant trend. Overall, the daily time frame is neutral. Technical analysis - weekly time frame RSI started to flatten recently. However, its bearish structure remains intact. MACD is in the bullish zone; however, it began to decline first and then flatten. Stochastic is bearish. DM+ and DM- signal bullish conditions in the market. ADX declines, which suggests that the prior bullish trend of a higher degree is weakening. Overall, the weekly time frame is neutral. Illustration 1.02 The picture above portrays the weekly RSI of USOIL. The bearish structure can be seen intact. 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 serve as 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
2
USOIL Potential for Bearish Dip | 19th April 2022Price can potentially dip from the sell entry level of 104.65 in line with 50% Fibonacci retracement towards the take profit level of 97.98 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
TVC:USOILShort
by Rockqet
1
Long-term oil analysis #oilsome notes: 1_In World War II, because the United States won the war, it said that my dollar should be the reference currency 2_The United States did not fulfill its contract and did not store gold against the dollar 3_European countries realized and wanted to buy gold under the same law for every $ 35 an ounce of gold 4_Meanwhile, Arab countries imposed sanctions on Europe and oil prices rose 5_Now European countries needed dollars to buy oil 6_If oil prices are low, it is very dangerous for the United States because negative inflation in the United States will form and stagnate. Because the United States runs its country with debt, it's the best inflationary position 7- America wants a lot of production so that the industries will stop working and there will be an increase
NYMEX:CL1!Short
by daylichart
USOIL Potential for Bearish Pressure | 18th April 2022We see a potential for bearish reversal from sell entry level of 104.65 which lines up with 50% Fibonacci retracement towards the take profit level of 97.98 which lines up with 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Alternatively, price might rise up to stop loss level of 108.76 which lines up with 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
TVC:USOILShort
by Rockqet
usoil buy to $108.00Currently the market had a brief pause before the long Easter Weekend. Looking to break the pervious resistance and go to $108.00. Currently no signs of price rejections at current resistance line. Has not broken trend-line. If this trade were to go into a sell I would wait for a break and retest of current trend-line. To the pervious support of $98.75 area Looking at the daily time frame oil made a shape similar to a M, it did not break the support at around $93.75. It broke the down-trend looking to head back to pervious highs of $115. Fundamental Outlook: The UK has pledged to phase out Russian oil, and coal imports. The final outcome is planned on April 24th so it does not effect their current election. Russian President Putin signed a decree ordering foreign buyers to pay for gas shipments in roubles (russian currency) instead of Euros or face going without Russian Supplies. Most European buyers have refused to do this, prompting concerns about supply (oil price goes up) European Union treat to ban Russian oil imports has the potential to send prices significantly higher. UK gas demand excepts higher in the next six months between April and September 2022 compared to 2021. China's almost nationwide COVId lockdown has triggered the first large scale demand roadblock as well.
TVC:USOILLong
by UnknownUnicorn36761102
1
Magical squares in Oil. Pay attention on it. We could see 3 global square range at the Oil chart for last 10 years. I call it Support, Resistance and a Transit zone. You could see that we have successfully leaved Support zone (so, no Oil shorts any more) and follows to the Transit zone. There are 2 main options now - to push off from it and return to Support zone or to come inside of it. If we come inside of Transit zone, it means we are on the path to Resistance Zone. And that's 100+ Oil price area. Let's suppose we are take off in Transit zone. There is a question - how long Oil is going to be passing throw it? You can see app. historical periods on chart. I have viewed a lot of forecasts at TV and there is almost absent some setups with 100+ price range. That could be a sign that traders are not expect fast emergence of Resistance zone. That could mean that this time transition could be really fulminant (almost no one expected of Oil's drop to 40 area from 140). Anyway, I prefer to forgot of longterm shorts of Oil for 2017. Happy New Year! Best wishes for everyone. Wish you an excellent year with a lot of joy and profits. May all your dreams come true. Be happy!
TVC:UKOILLong
by UnknownUnicorn163516
USOIL Potential for Bearish Momentum | 14th April 2022Price is on a bearish momentum. We expect a potential for bearish dip from sell entry level of 104.65 in line with 50% Fibonacci retracement towards the take profit level of 97.98 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci projection . Alternatively, if price breaks through the pivot structure, it might rise towards to the stop loss level of 108.76 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci projection . Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
TVC:USOILShort
by FXCM
1
USOIL - WTI oil peaked and now it is headed lowerFor the past year, we were predominantly bullish on USOIL. However, this came to a change recently, and we turned neutral to bearish on USOIL. That is due to Strategic Petroleum Reserves being released in vast quantities, production hike talks, and the eventual need to lower energy prices. Therefore, despite the general bullish narrative, we make a contrarian case for the lower cost of oil. Indeed, we would like to set a long-term price for USOIL to 90 USD per barrel. Illustration 1.01 The picture above shows USOIL on the daily time frame. It also shows the resistance at a slope (white line) and the bullish breakout above it (indicated by the yellow arrow). We will look for a potential breakdown in price and invalidation of the bullish breakout. Technical analysis - daily time frame RSI and MACD are neutral. However, MACD needs to be observed for potential bullish crossover above 0 points in the following days. Stochastic oscillates in the bearish area, although it points to the upside. DM+ and DM- show bearish conditions in the market. ADX indicates the trend is weak. Overall, the daily time frame is neutral. Technical analysis - weekly time frame RSI continues to develop a bearish structure. However, for the past three weeks, RSI started to flatten, making it neutral. MACD also started to flatten, making it neutral too. DM+ and DM- are bullish. ADX seems to have peaked; indeed, ADX started to decline, which suggests that the bullish trend of a higher degree is weakening. 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 serve as 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
6
USOIL Potential for Bearish Momentum | 14th April 2022Price is on a bearish momentum. We expect a potential for bearish dip from sell entry level of 104.65 in line with 50% Fibonacci retracement towards the take profit level of 97.98 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Alternatively, if price breaks through the pivot structure, it might rise towards to the stop loss level of 108.76 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
TVC:USOILShort
by Rockqet