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USOIL:$78 next week is crucial On Tuesday this week, the testimony of the Chairman of the Federal Reserve before Congress raised concerns about risk assets in the market. In this testimony, Powell stated that "if it is necessary, the Federal Reserve is prepared to speed up the pace of interest rate hikes, and terminal interest rates may be higher than expected." These words indicate that the Federal Reserve not only did not cool down the rising expectations for interest rate hikes over the past month, but also further pushed up the expectations for interest rate hikes. Powell's speech caused shock in the market, as the market saw from Powell's speech a determination to lower the inflation rate at the cost of suppressing demand and employment. On that day, the US dollar index soared, risk appetite deteriorated, and US stocks fell sharply, accompanied by a sharp drop of 4% in oil prices from above $80 per barrel. However, there was a reversal in oil prices on Friday. After testing the support at $74.5, the market quickly rebounded above $76 and successfully stabilized. Our long position in crude oil at $75 also reached the first take-profit level smoothly. However, there is still a certain distance from the recent high of $80, and the upper resistance level to watch is in the 76-78 area. This dense resistance area may limit the upward space. But if it breaks through $78, there will be an opportunity to challenge the $80 level again. Let's keep an eye on it, and I will update the trading strategy in a timely manner. I have in-depth research on futures products such as cryptocurrencies, foreign exchange, stocks, gold, and crude oil, and I also update daily trading strategies. Thank you for your attention and likes. If you have any questions, please leave a message, and I will provide the most secure advice to help you.
FX:USOILLong
by FlashTrades_
1
Crude oil: next target 80Scott Sheffield, CEO of Pioneer Natural Resources, a major US shale oil producer, stated at the CERAWeek energy conference held in Texas this week that oil prices have hit bottom and could surge 17% by summer. In an interview, Sheffield said that over the past year ending in December, US production growth was only about half of what was expected and the industry has been facing ongoing issues of declining refinery capacity and inventory. Over the past few months, the price of West Texas Intermediate (WTI) crude oil has fluctuated around $73-80 per barrel. On Thursday of this week, WTI crude oil prices hovered around $77 per barrel, while Brent crude oil prices were around $83 per barrel. Sheffield expects oil production growth to slow significantly, although not necessarily to decline, due to the constraints of refinery capacity and inventory. According to the US Energy Information Administration (EIA), the US produced an average of 11.9 million barrels of crude oil per day in 2022, lower than the record average of 12.3 million barrels per day in 2019. EIA predicts that daily oil production will be 12.4 million barrels per day this year. Sheffield believes that the US may recover to a production level of around 13 million barrels per day in two to three years, which is equivalent to the level recorded in November 2019. He added that this will be a "very slow pace." There are two reasons for the slow growth in US crude oil production: insufficient refinery capacity and limited inventory. Sheffield pointed out that "first, we don't have refinery capacity. If we increase drilling, service costs will rise another 20-30%, which will take away free cash flow. Second, this industry does not have enough inventory." He added, "Our estimate of free cash flow last year was $8 billion, and we expect free cash flow in 2023 to be only $4 billion." As for when oil prices will rise, Sheffield expects that "at some point this summer, WTI will break through $80 and move towards $90 per barrel." The market is changing rapidly, I hope everyone can seize the opportunity and make money The personal free guidance channel is open for a limited time, you are welcome to join
TVC:USOILLong
by Navigation-h
Short crude oil when reboundingBecause the market is vigilant about frequent and more substantial interest rate increases by the Federal Reserve, concerns about the global recession have increased, and the global stock market has generally weakened, which has dragged down oil prices. On the daily chart, oil prices continued to weaken in the short term, and fell back after the rebound in the previous trading day was blocked, suggesting strong selling pressure above.From the technical structure point of view, oil prices have still been in a wide fluctuation trend in recent months, and at the same time, they have also formed a short-term wedge-shaped consolidation trend to make a transitional market before the direction is chosen.The current support and strong support for oil prices are the 74.3 line on the wedge-shaped extension cord and the 72.3 line on the extension cord of the shock box below. The resistance above the short period is at the 76.5 line, and the stronger resistance is at the 77.6 line at the intersection of the short-period moving average and the Bollinger band. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Blessed_V
Going short on crude oil at 77.8. At the start of the Asian market on Thursday, crude oil is currently trading around $76.5 per barrel. On Wednesday, crude oil continued to fall as concerns about more aggressive interest rate hikes weighed on economic growth and oil demand, outweighing the larger-than-expected reduction in US inventories. Although yesterday's decrease in crude oil inventories did not cause significant fluctuations in the price and quickly recovered, it shows that the overall trend of crude oil is weak. My trading strategy remains short, with a focus on selling high. My trading strategy is to short crude oil at $77.8, with a stop loss at $78.6 and a target of around $75. Investors can choose their own profit-taking points according to their trading style. The above is only a short-term trading perspective. I will notify you promptly if there are suitable opportunities. Liking, commenting, and subscribing are the best encouragement for me. Follow me to make trading simpler! You are also welcome to read my other ideas below. MCX:CRUDEOIL1!
TVC:USOILShort
by Ice_and_Fire1
1
step back on key support and continue to consider long ordersOn Wednesday, the data was bullish, but crude oil did not rise. After a weak rebound, it continued to decline. The market has already released most of its downward pressure here, and it is highly likely that it will rebound from here. If it falls directly to 75.50 without rebounding, it may be considered for a low long position. Friends who have long positions need not worry for now. I am not sure about everyone's position and direction, so feel free to leave a message below or join the discussion channel to discuss together. Being trapped is not scary, what's scary is not having a method. The following are the reasons for expecting a bottoming and rebound in crude oil: The downward momentum of crude oil has weakened, and the daily candlestick shows a clear reduction in the size of the bearish body. According to the updated wave trading system, the current trend is still considered to be part of the upgraded X wave c, and the structure of X wave a suggests that there may be further downside in the short term, followed by another upward movement. The intraday resistance is at 76.90-77.30, and support is at 76-75.50.
TVC:USOILLong
by Navigation-h
4
USOIL: Long position after a downward adjustment to $77 Despite the unexpected drop in API crude oil inventory providing support to oil prices, the hawkish speech by the overnight Federal Reserve Chairman has continued to help the US dollar index soar, which has raised concerns about economic recession and continued to put pressure on oil prices. Although there is a chance for the oil price to rebound and adjust after the overnight plunge. Looking at the daily chart of USOIL, the upward trend has not been broken, and the support below has continued to rise. Although there is no effective breakthrough above $80, the adjustment range of this downward trend is sufficient, and it is a good opportunity to enter the long position again. Personal trading strategy: Buy long position near $77-77.5, with the first target at $78.5 and the second target at $80, and pay close attention to the EIA data to be released tonight. I have in-depth research on futures products such as cryptocurrencies, foreign exchange, stocks, gold, and crude oil, and I will also update some daily trading strategies. Thank you for your attention and likes. If you have any questions, please feel free to leave a message, and I will provide the most secure advice, hoping to help you.
TVC:USOILLong
by FlashTrades_
1
Waiting for a rebound to go short. In the early Asian session, US oil traded near $77.20 per barrel. On Tuesday, crude oil plummeted more than 4%, affected by Chairman Powell's speech exacerbating concerns about interest rate hikes and a stronger dollar. Powell stated to lawmakers on Tuesday that the Fed may need to raise interest rates more than expected to respond to strong recent data, which led to a downturn in most financial markets. Today, shorting is favored in crude oil. Strategy suggestion: Sell crude oil near $78.3-$78.5 with a stop loss at $79.2 and a target near $76. I will also give an alert once it reaches the target. Follow me to make trading simpler. TVC:USOIL FXOPEN:XAUUSD
TVC:USOILShort
by Ice_and_Fire1
1
Buy crude oil at 78.5. Trading is about making profits, not about venting frustration or trading for the sake of trading. Therefore, traders must understand what stage the price is at and take appropriate actions. Traders are neither always long nor always short, but always adapt to changes in the market. Traders must have their own defense system to control risks. Risk control and capital management are essential in your trading. On Friday, oil prices recovered from a brief sell-off, rising more than $1 and the weekly chart also showed an increase, boosted by new optimism surrounding demand from the largest oil importing countries. Friday saw a large bullish rally, closing at a high level, while on Monday prices weakened during trading. Regarding operations, the key point to watch above the crude oil price is near the 80.5 level, which can serve as a reference for selling. Looking below, the support near the 78.5 level is a good point to buy in with a small position, while the strong support at the 77 level can be a point to buy in with a large position. Feel free to leave comments and discuss, follow me to make trading easier.
TVC:USOILLong
by Ice_and_Fire1
USOIL: Long position at 79.5 Over the past two weeks, international oil prices have continued to fluctuate upwards, despite the negative signals from changes in US crude oil inventories and little impact on Russian crude oil exports from sanctions. However, these pressures have been unable to overshadow the positive impact of China's economic recovery and resilient risk appetite on oil prices. The supply gap caused by Russian sanctions on crude oil has been a concern for investors and an important factor supporting oil prices. According to recent media reports, the CEO of crude oil trader Gunvor Group has stated that price ceilings and export bans have not interrupted Russian crude oil exports, and there is an "uncontrolled fleet" shipping Russian crude oil outside the control of Europe and the United States. Contrary to the negative factors mentioned above, China's economic recovery is one of the important positive factors for international oil prices. Apart from immediate indicators such as the recovery of transportation observed by the market after the relaxation of epidemic prevention measures, some recognized economic data have confirmed the strong rebound of China's economy, such as the official PMI and Caixin PMI last week. Goldman Sachs previously predicted that as China's economy recovers, oil prices may return to $100 per barrel. China's latest trade data released today showed a trade surplus of $116.88 billion for January-February, down 6.8% year-on-year, better than the expected decline of 9.4%; imports fell by 10.2% year-on-year, worse than the expected decline of 5.5%. From the sub-item data, China's crude oil imports in January-February fell by 1.25% year-on-year (about 1.07 million tons), but imports of refined oil increased by 14.4% year-on-year (about 0.67 million tons). The recent strong risk appetite has also provided support for the rise of international oil prices. The daily chart shows that crude oil has broken through the downtrend line starting from January 27th, and after yesterday's fluctuations, it has broken through the 80 level, which may open up space for further upward movement. Although there may be adjustments during the day, if it can hold the support near the 80 level, it will maintain the prospect of further bullishness. If expectations are met, subsequent upward movements will target the recent months' high of 83 and the downward pressure line since July last year of 84. Personal trading recommendation: Enter a long position near $79.5, with the first target at $81.5 and the second target at $82.5. Whether crude oil can effectively stand above $80 in the near future is crucial. If there are any changes in the market situation, I will update it in a timely manner. Please continue to follow my strategy and leave me a message if you have any questions. I hope this can help everyone.
TVC:USOILLong
by FlashTrades_
1
WTI CRUDE OIL Sell SignalWTI Crude Oil reached Resistance Zone (1). Breaking above the Declining Resistance resembles late January. Limited upside to Resistance Zone (2) based on the past 4 months. Trading Plan: 1. Sell on the current market price. Targets: 1. 74.00 (over Support Zone 1). Tips: 1. The MACD is also inside its 3 month Resistance Zone. The next Bear Cross will confirm the downtrend. Please like, follow and comment!! Notes: This is an extension of this trading plan:
TVC:USOILShort
by TradingBrokersView
WTI CRUDE OIL: Sell signal as it approaches the 3 month ResistanWTI Crude Oil hit all upside targets, even broke over the 1D MA100 that has been untouched since January 27th and as it approaches R1, sell signals start flashing. The 1D technicals (RSI = 60.222, MACD = 0.430, ADX = 18.663), especially the RSI is on its highest level in 4 months. This is already good enough for our strategy to start building up sell positions. For short term traders P1 and the 1D MA50 are always the best target zone. For us it is the previous low above S1 that we will target (TP = 74.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
1
Specific analysis and ideas of crude oilThe biggest mistake in life is constantly worrying about making mistakes. The greatest sadness in life is not losing too much, but caring too much. This is also a major reason why a person is unhappy. Last Friday, according to a report from The Wall Street Journal, there were internal discussions within one of the OPEC member countries, the United Arab Emirates, about the possibility of exiting OPEC. The report indicated that there are significant differences between Saudi Arabia and the UAE on various issues, including production capacity releases, competition for foreign investment, and the conflict in Yemen. The market is concerned that if the United Arab Emirates were to exit OPEC, it would directly undermine the overall influence of OPEC. As a result, WTI crude oil was hit, dropping by 2.7% to $75.83. As a consequence, our previous bearish view on crude oil has yielded good results, and we hope everyone has gained profits. However, later, UAE officials denied the aforementioned report, stating that the UAE has no plans to exit OPEC. As a result, WTI crude oil quickly rebounded, recovering all losses and rising to $79.9, approaching the $80 mark. Many people are now concerned about whether they should chase the rise of crude oil. Indeed, the decisions made by OPEC member countries will affect the trend of crude oil. Considering that the main disagreement driving the oil market currently is the demand outlook, and in the context of Russia's production cut in March, OPEC+ maintains a strong influence on the market. Therefore, in the short term, oil prices rebounded quickly after the UAE denied its exit from OPEC. However, investors should pay attention to the relationship between the UAE and Saudi Arabia. With the expectation of a recovery in demand, oil prices are expected to break out of their three-month consolidation range. According to some reports and data, a medium to long-term upward trend in oil prices may have been established, but the process is unlikely to be smooth. From a medium to long-term perspective, the upward trend in oil prices is expected to be established, but considering that US service sector inflation remains high and is difficult to quickly fall back in the short term, this will exacerbate the risk of economic recession in the US and thus impact demand prospects. Investors this week should pay particular attention to the semi-annual monetary policy testimony of Federal Reserve Chairman Powell in both houses of Congress, as well as key events such as US non-farm payrolls for February, China's trade balance, CPI and PPI, M2 and social financing data, which are expected to have an impact on oil prices in the future. Technical analysis: The daily chart shows that WTI crude oil stabilized above $77.0 and further rebounded to touch the $80 level, indicating that the bulls have further upward momentum. It is expected to break through the consolidation range of the past three months ($73.0-$83.0). The author maintains a cautious bullish view on oil prices. If the oil price breaks above $83.0, it may open up further upside potential, and even have the potential to test the $100 level in the medium term. However, if the oil price falls below $73.0, it is necessary to be vigilant about the possibility of further downside and a potential test of the key support level of $70. Operation idea: The main strategy is to buy on dips, and it's also possible to chase the price higher when it breaks through 82. Given the unclear news, it's important to control the position size.
BLACKBULL:WTILong
by StarVenus-
USOIL stuck between $70 and $82A month ago, we noted that USOIL would likely stay stuck within the wide range between $70 and $82. We outlined several developments that pointed to a neutral trend and said that even if the price fell below $70, we would expect it to be shortlived due to the U.S. administration seeking to refill its Strategic Petroleum Reserves (SPR) near that price tag. A week later, the U.S. announced it would release 26 million barrels of crude oil into the market (in line with its mandate). However, based on the publicly available data, the Strategic Petroleum Reserves have remained unchanged since the start of 2023, at 371.58 million barrels. That indicates U.S. officials are waiting for a higher oil price at which they could unload their reserves at a profit. With the price of USOIL approaching $80 per barrel, this event might not be that far away. Our view has not changed; we still expect the oil price to stay choppy within the wide range for an unforeseeable future. Illustration 1.01 Illustration 1.01 displays the daily chart of USOIL within the wide range and two simple moving averages. Previously, we said that the flattening of these moving averages indicated a neutral trend. Technical analysis Daily time frame = Neutral 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:USOIL
by Tradersweekly
18
USOUSD Daily: 22/02/2023: Will buyers push the price up? As you can see, the price is in the bearish structure and we expect the price to see lower levels. I am bearish till the price is below the weekly resistance. But for now, we can see that price move in the trading range for a while and it means there is huge liquidity on both sides of this range. In addition, we are under 50% of the previous bearish wave so we are in discount and searching for a buy setup. In that case, from here or low time frame demand zone with low time frame confirmation we can go long. our first target can be the supply zone and then 50% Fibo level and finally, above 83.31 we can close our position. 💡Wait for the update! 🗓️22/02/2023 🔎 DYOR 💌It is my honor to share your comments with me💌
FX:USOILLong
by VahidTradingCR
13
WTI: It all comes down to the green… 💵🌿It all comes down to the green . This saying is especially true for WTI as it has yet to dive into the green zone between $70.12 and $35.77. To get this done, the course should push further off the upper side of the turquoise trend channel and drop below the support at $70.08. This should grant WTI direct access to the green zone, where it should finish wave 2 in green before heading northwards again. However, a 32% chance remains that WTI could turn upwards and climb above the resistance at $82.64, in which case the course would develop wave alt.(b) in blue above the upper resistance line at $93.74 first before resuming the descent.
NYMEX:CL1!
by MarketIntel
1
WTI OILWTI Oil, a benchmark for crude oil prices, has been gradually rising recently, indicating an uptrend in the market. By analyzing the available charts, it is possible to identify entry points for traders to buy at the same time as identifying an exit point. To further refine the strategy, traders can use different technical indicators to help them make informed decisions. One potential approach involves looking for a little pullback on the middle trendline, which can serve as a testing ground for a "BUY" signal. Overall, this strategy can be effective for traders looking to capitalize on the current trend in the WTI Oil market. By carefully monitoring the charts and utilizing appropriate indicators, traders can identify optimal entry and exit points to maximize their profits.
TVC:USOILLong
by arnvon1213
WTI CRUDE OIL: Tight Triangle short.The WTI Crude Oil is trading between the 4H MA200 and 4H MA50 with the price range tightening in February as the upside is limited to Lower Highs (LH) and the downside to Higher Lows (HL). The old Pivot (P1) is exactly on the 4H MA200 and we are waiting to short this, aiming at the HL (TP = 74.85). If it fails, we will wait until it hits R1 to short back to P1. Under the Triangle, TP = S1 and 70.25 (S2). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
7
WTI crude bearish, $73 and $70 Could Russia cut production more than expected? Oil prices rose against market trends under supply-side pressure, with a 10-year US Treasury bond yield approaching 4% and the US dollar breaking through 105. Could the Federal Reserve raise interest rates to 6.5%? The WTI crude oil market is facing a critical decision! On the daily chart, WTI crude oil has remained under pressure since failing to break above the $80 level, with a continuous decline and a limited range between $73.0 and $83.0. There is a possibility of further downside testing the support level below the key $70 mark. In the short term, WTI crude oil has not yet completely shaken off its bearish trend. If the price falls below $73.0, there is a risk of further testing the previous low of $70.0. Please hit the follow button to keep up with our updates and maintain your reading habit. If you agree with our views, please click the rocket to show your support. MCX:CRUDEOIL1! NYMEX:CL1! NYMEX:MCL1! MATBAROFEX:WTI1!
TVC:USOILShort
by investmentMr-X
1
USOil | New perspective for the week | Follow-up detailDespite starting the week on a bullish note, fresh new anxieties over inflation and rate hikes rippled across the market and this development resulted in participants dumping their long positions on the US Oil. With continued selling pressure below the key level at $80.00 level, buying opportunity might likely be on hold in the coming week until there are clear signs that support positive feedback from Chinese import data following the lifting of its COVID restrictions. In this video, we looked at the market structure from a technical standpoint and indications suggest continued selling pressure as long as the price remains below the $80 level. 00:50 Reference to last week's daily commentaries and results 05:25 USOil Technical analysis on Daily chart 10:20 USOil Technical analysis on 4H Timeframe against next week 11:35 Conclusion on next week's expectation for the USOil Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
1