Wticrudeoil
OIL oil has been on a tear despite dollar strength right now theres some things going on with opec and siding with russia that may be pushing it up since they rasied the prices on usa
either way this bad boy not stopping if we get a close above this level we pushing towards that 96$ handle soon
Macro and TA is making Oil look ripe for an upward moveMacroeconomic trends with a rough heating season for Europe, the continued war in Ukraine, the internal troubles in Iran, and the most recent OPEC+ meeting makes the macro position for Oil look bullish.
Looking at the charts it looks likely that oil will challenge the downward trend that has persisted recent months and coming two days let us know if it'll begin a bullish upwards trend.
WTI analysis: Will OPEC+ cuts boost crude to $100?OPEC+ has taken a tough stance, slashing output by 2 million barrels per day (bpd) beginning in November 2022, the largest reduction in crude oil production since March 2020.
In addition to production extending the agreement through 2023, oil producers have agreed to hold semiannual rather than monthly meetings.
WTI oil briefly spiked to $87/bbl following the OPEC+ announcement. It then broke through that level in response to disappointing US crude oil inventory data (-1.36 million barrels vs. 2.05 expected) and a strong US ISM Services PMI, which delayed recessionary warning signs following the weak ISM Manufacturing PMI earlier this week.
The move by OPEC+ risks putting renewed pressure on crude oil’s global supply-demand balance in the coming months, potentially resulting in a price floor at pre-OPEC+ meeting levels.
On a technical level, WTI crude and (also Brent) prices are currently testing a key resistance area, defined by the 50-day moving average and the 23.6% Fibonacci retracement level of the range between September lows and June highs.
A sharp break above this resistance zone and then the $90/bbl level (September highs) could put additional upward pressure on an extension towards the 50% of the Fibonacci level ($98.6/bbl) and then $100/bbl.
Idea written by Piero Cingari, forex and commodity analyst at Capital.com
USOIL 3rd OCTOBER 2022 - COMBINATION STRATEGYUSOIL Combination strategy with a Trendline, Unfilled Order (UFO) and Psychological level.
Trend is a movement that shows where the market is moving. The term "trend" in everyday life is often used to express a situation, where something is in vogue or is gaining public attention.
As you know, a trendline is a tool that can be used to recognize the direction of a trend. Therefore, a trendline can serve as both Support (in an uptrend) and Resistance (in a downtrend). Trend line, Its function as a technical tool does not need to be doubted. Besides being able to help identify trends, this tool can also be used to find entry points. In looking for entry points, you can use bounce and breakout opportunities. remember "the trend is your friend". Believe it or not, in forex trading, the trendline is one of the friends that can help you to follow the direction where the market is moving.
This trend movement forms a series of sequential waves with the following levels:
Peak (High/H),
Higher peak (Higher High / HH)
Lower peak (Lower High / LH )
Valley (Low/L)
higher valley (Higher Low / HL )
Lower valley (Lower Low / LL)
By knowing the support and resistance levels, a trader can minimize risks and maximize profits. During a downtrend, a trendline can serve as resistance. But conversely, during an uptrend, the trendline can function as support. In finance market, a psychological level, is a price level in technical analysis that significantly influences the price of the underlying security, commodity or derivative. Usually, the number is something "easy to remember," like a number that is rounded up.
Meanwhile, Unfilled order is a shipment of orders that have not been fulfilled and inventory reported by domestic manufacturing companies. historically it can be seen that the balance between buyers and sellers is broken due to high volatility.
for example in the case of US30 23rd AUGUST 2022
USOILThis is my primary count on USOIL. Seems likely that we test $66-$70 for the intermediate wave 4 & confirm the higher low & also support on the monthly ema's 50,100,200 before the final pump to $300 plus.
So currently looks like we are in the 4th of the 3rd about to start the 5th of the 3rd and then correct into the HTF 4th wave before starting the last push to the 5th into 2027.
WTI SHORT TERM RECOVERYWTI recovered some of its loses yesterday after expectations of supply slow-down due to the hurricane in the Gulf of Mexico. But the continuous straightening of the US dollar and the expectations of continuing slow-down of Chinese economy might decrease the demand of crude oil. This will probably put further pressure on the crude oil price. Bearish traders might take advantage of this scenario by waiting a bit for WTI to reach more favorable levels and enter into positions.
Although technical indicators on the 1H graph show "Buy" signals, on the 4H and the daily graph the indicators are still bearish, with MACD histogram below 0 line and RSI below 50 neutral line. This might indicate that the recovery is temporary and the bearish move has not finished, but just slowed down.
If bearish trend continues the price might test levels of 72 USD, but if the trend makes a more permanent reverse, it might test its previous high at 86 USD.
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.
CRUDE OIL WTI : BEARISH POSITIONS BELLOW 88.78BLACKBULL:WTI
Hello folks!!!,
This is my analysis brought to you after deeply analyzing the Curde Oil WTI from a technical, trend and fundamental perspective:
Pivot point : 88.78
Stop loss : 92.28
Take profit : 73.28
Entry Price : 86.40
Risk/Reward Ratio : 1 : 2.32
If this post was useful to you, do not forget to like and comment.❤️
Trade Safely,
Best Regards,
Yasser Tavarez
USOIL - An attempt to support the price failsOn 17th August 2022, we warned that the oil market might be positioning itself for a downtrend correction. Accordingly, we said we would pay close attention to the sloping resistance and a potential breakout above it.
Then, a few days later, the breakout occurred, and the price of USOIL spiked to 97.65 USD. Meanwhile, we abandoned our bearish price targets due to the OPEC considering production cuts. However, we also stated that the retracement (below the sloping resistance) could be utilized as short position re-entry.
Finally, after the OPEC announcement, we said the production cut would have a minimal impact on the market. So today, we would like to update price targets for USOIL. Our new short-term price target is 80 USD, and our long-term price target is 70 USD.
Illustration 1.01
The image above shows the daily chart of USOIL. It also depicts the bullish breakout above the sloping support/resistance and subsequent bearish retracement.
Technical analysis - daily time frame
RSI, Stochastic, and MACD are bearish. DM+ and DM- are bearish. Overall, the daily time frame is bearish.
Illustration 1.02
Illustration 1.02 shows simple support and resistance levels for USOIL. The yellow arrow indicates the most recent bearish breakout.
Technical analysis - weekly time frame
RSI, Stochastic, and MACD are bearish. DM+ and DM- are 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.
WTI oil - 80 USD in sight Since our last update on oil, much has not changed. Therefore, we continue to be bearish on USOIL and stick to our short-term price target of 80 USD and a long-term price target of 70 USD. Our views are based on technical and fundamental factors we reiterated throughout 2022.
Illustration 1.01
Illustration 1.01 displays the daily chart of USOIL. Additionally, it shows two yellow arrows that indicate natural price retracements toward its 20-day SMA and 50-day SMA (which acted as a correction of the downtrend).
Technical analysis - daily time frame
RSI, Stochastic, and MACD are bearish. DM+ and DM- are bearish. Overall, the daily time frame is bearish.
Technical analysis - weekly time frame
RSI, Stochastic, and MACD are bearish. DM+ and DM- are 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.
USOIL 23rd SEPTEMBER 2022Oil prices slipped below the US$85 per barrel level after the US central bank, the Fed, announced an interest rate hike.
U.S. oil demand over the past four weeks fell to 8.5 million barrels per day (bpd), the lowest since February, according to the Energy Information Administration (EIA). On the other hand, there was a 1.1 million barrel increase in crude oil stocks last week.
The European Union is considering restrictions on Russian oil prices, as well as on high-tech exports to Russia, as well as sanctions in the event of an escalation of Moscow's war in Ukraine.
On the other hand, China's crude oil demand is also still pressured by tight restrictions due to Covid-19.
OPEC crude oil exports have been fairly stable, since the high increase in demand earlier this month for an early winter contract.
When Russia refuses to 'restrictions on Russian oil prices', and OPEC starts to 'reduce oil exports', that's we can see prices will tend to be bullish.
WTI DWINDLES BETWEEN HIGH RATES AND THIGHT SUPPLYWTI remains indecisive. On one hand traders are suspecting continuous increase of the interest rates, after Fed decision in Wednesday. On the other hand, the further escalation by Russia of the war in Ukraine and the thread by the Nigerian oil minister Timipre Marlin Sylva that OPEC+ will decrease production if prices keep falling, are creating fear of tightened supply.
All technical indicators are suggesting downtrend for WTI price, with MACD histogram being below the 0 line and RSI being below the neutral 50 line.
If price keeps falling, it might test its most recent low at 80.9, but if the trend reverses, it might test its resistance at 89.7 or even the one at 97.2
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.
Crude Oil in Daily timeframe. UPDATEDHi Everyone,
Beware of next move.. high probability to go down after the FED annouce hike of interest rates. (75% probability)
i try to always we will keep you all updated . Please don't forget to like, comment and follow to support us, i really appreciate you support !
Goodluck
i'll help you to have a great trade.
Please using good money management.
dont take any emotional trade.
Note:
Dont risk more than 0.2% on trending market
Dont risk more than 1% on ranging market
Wish good luck for all people.
Please help support me by Clicking like button, and if you like my ideas please follow me and support me. i Relly Appreciate it!
i'll make more and more great analysis if this chanel grows.
on Gold , Oil , Nasdaq, SP500 , and some American, China, Japan, Indonesia stocks.
Best luck for you.
Cheers mate!
Thankyou.
CAREFUL BULLSI would wait for bullish confirmation, a breakout from the downtrend would be our signal.
USOIL 5th SEPTEMBER 2022The standoff over Russia's gas and oil exports escalated on Friday after Moscow promised to close its main gas supply pipeline to Germany and G7 countries announced plans for price caps on Russian oil exports aimed at squeezing Russia's war chest in Ukraine. This latest closure of the Nord Stream pipeline, which Russia says will last as long as it takes to make repairs, adds to concerns over winter gas shortages that could pull major economies into recession and lead to energy rationing. Europe accuses Russia of weaponizing energy supplies in what Moscow calls an "economic war" with the West following Russia's invasion of Ukraine. Moscow blames Western sanctions and technical problems for supply disruptions.
USOIL 8th SEPTEMBER 2022Oil prices fell sharply on Wednesday (September 7th), slipping below levels seen before Russia's invasion of Ukraine as dismal Chinese trade data and growing fears of a global economic recession hurt fuel demand.
West Texas Intermediate (WTI) oil futures for October delivery plunged US$4.94 or 5.7 percent.
With lower prices this time it is a good opportunity to supply companies that are optimistic about surviving the recession and tightening monetary policy.
This week, OPEC+ is scheduled to discuss oil production cuts as part of their future strategy.
OPEC+ revised the market balance this year and expects demand to lag supply by 400,000 barrels per day (bpd) compared to the previous estimate of 900,000 bpd.
However, the group of major oil producers expects the oil market to be in deficit by 300,000 bpd by 2023.
WTI CRUDE OIL - Daily TF AnalysisWTI CRUDE OIL on daily TF. There's two zone for scalper to make money. Let's see how price react.
wticousd continue down trend is downwticousd continue down trend is down we will enter from supply zone for trade
Crude Oil in 4H time Frame.Hi Everyone,
Please see updated 4H chart, Oil already hit the support around 86 ready to test the key point at 90, if break there is likely 2 possible upside moment.
as we can see the oil will make range until the fed release their new hike Interest rates.
we also need see the next coming geopolitical movement from Russia , China and USA.
The oil embargo will also have an impact on price movements.
first possible range(4h - 1D):
80 - 110 USD
second possible range (4h - 1D):
75 - 103 USD
i try to always we will keep you all updated . Please don't forget to like, comment and follow to support us, i really appreciate you support !
Goodluck
i'll help you to have a great trade.
Please using good money management.
dont take any emotional trade.
Note:
Dont risk more than 0.2% on trending market
Dont risk more than 1% on ranging market
Wish good luck for all people.
Please help support me by Clicking like button, and if you like my ideas please follow me and support me. i Relly Appreciate it!
i'll make more and more great analysis if this chanel grows.
on Gold , Oil , Nasdaq, SP500 , and some American, China, Japan, Indonesia stocks.
Best luck for you.
Cheers mate!
Thankyou.
Will WTI Oil drop under 70?Since the double top marked by March and June's highs above 120, the price of Oil has started to fall and found support under 90 and under the neckline of the pattern.
Last week we have a false break above this neckline reversed with a strong bearish engulfing and Oil is trading again near 88 support (also an old resistance from Oct and Nov 2021)
The pressure seems to be on the downside and a clear break of support would confirm this outlook.
In such an instance we can have a continuation to the downside and a drop to 70 important horizontal support and also the measured target for the double top.
WTI Cude (OIL) WAITE TO BUY CONFARMANATION...
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
Dear Traders,
If you like this idea, do not forget to support with a like and follow.
PLZ! LIKE COMMAND AND SUBSCRIBE.
GTEleading diagonal target should land around .44c.
Could line up well with my WTIC target of $68 Wave 4 target posted recently.
