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OIL- OPEC Deal or No Deal?What a lovely day this is, what a fantastic thing Technical Analysis is. Yes, we took profit perfectly today on what was a rather easy and predictable trade. The price dropped minutes later from resistance to support and off from support bouncing back up at the moment. What is important to understand now is the fundamentals. Oil price surge triggers new inflation fears as Opec talks break down The United Arab Emirates refused Saudi Arabia’s demands to increase production, leaving the meeting collapsing with no decision. Some analysts are now predicting oil will climb to $100 a barrel. Economists said surging oil prices threaten to destabilise the world economy’s fight back from the Covid doldrums. As well as being key to the cost of powering factories, oil and its associated products form a key element in most consumer goods... Check the idea below and remember who the greatest Bull of ALL TIMES is...(inflation)
TVC:USOIL
by FX_Professor
3
US OIL (WTI/USD) – Week 25 – Expecting a correction.Last week, US Crude Oil dropped from the rising wedge pattern line without any big impact. We would expect the price to fall from here into a corrective phase and test the first support level, but this might happen after we break the top once more. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:USDWTIShort
by financialflagship
12
On June 18, oil prices will go into a deep correction (~ 3-5%)Hi Everyone!!!!!! 🔹 Against the background of statements by the Iranian Foreign Ministry about the difficulties remaining at the end of the next round of negotiations in Vienna, WTI oil has renewed records since October 2018, reaching $ 71.69, but fell back to $ 71.27 after the opening of European exchanges. 🔹Although the deal to lift sectoral sanctions, including against the oil sector, has been agreed in principle, unresolved issues remain - political, technical, legal and practical, Iranian Foreign Ministry spokesman Said Khatibzade said on Monday. In this regard, the agreement to return Tehran to the 2015 nuclear deal has been postponed, he admitted. 🔹The market expected that the lifting of the oil embargo against Iran would take place before the presidential elections, but "now it seems that this will not happen." The elections will be held on June 18. The statements from Tehran, in fact, indicate that the negotiation process has slowed down significantly - it is not a fact that an agreement will eventually be reached. For oil, this is naturally a plus, but only in theory. A shake-up is needed to continue higher quality growth. And we see how the political strategists are playing the next show. In view of the above, I assume that after the elections, oil quotations will drop by 3-6%. During the weekend, even a gap on the charts is possible with the completion of more distant targets. SELL signal - (73.00 - 73.60) Stop Loss - 74.20 Target 1 (71.50 - 72.00) Target 2 (70.00 - 70.70) I make my trade with my broker
TVC:UKOILShort
by MichaelKhlestunov
US Stock In Play: $WTI (W&T Offshore Inc)With Oil and Gas stocks continue to rally up form their 2020 lows, and SPDR S&P Oil & Gas Exploration & Production ETF ($XOP) already above its Pre-Covid levels, $WTI rally of +24.06% over the past weeks of trading upon the high volume break of a two weeks consolidated pattern, continue to suggest it is playing catch up relative to the broader sector. With management of $WTI owning 35% of the common stock, it provides a strong alignment of incentives. Its offshore's asset values alone suggest that the shares are underpriced and may be worth $6-$7. The immediate resistance for $WTI is at $5. $WTI an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interest in approximately 43 offshore fields in federal and state waters. The company also owns interest in approximately 146 offshore structures.
NYSE:WTILong
by jfsrevg
US OIL (WTI/USD) – Week 22 – New top expected.Last week, US Crude Oil increased, despite our forecast in which we expected the price to drop, breaking the support area. In the coming days, we are expecting a new yearly top, but we won’t expect this move to gather enough momentum. Having said that, we will focus on the sell setups, as we need another drop in order to complete the consolidation pattern highlighted by the orange lines. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:USDWTIShort
by financialflagship
20
US OIL (WTI/USD) – Week 20 – Resistance up ahead.Last week, WTI lost some bullish momentum and the price dropped towards the trendline, as forecasted. For next week, we are expecting the price to resume the bullish momentum and re-test the resistance level. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move. 📢Check out our: 📹YouTube: www.youtube.com 🌍Website: www.finflagship.com
FX_IDC:USDWTILong
by financialflagship
11
US OIL (WTI/USD) – Week 18 – Expecting a drop.In our previous forecast, we were expecting WTI to fall and reach the liquidity pool. Instead, the price increased, but our bias hasn’t changed. For next week, we expect the price to lose some steam and drop towards the support area that we highlighted. Keep an eye on Wednesday’s weekly EIA stocks report as it may have an impact on this asset. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:USDWTIShort
by financialflagship
18
US OIL (WTI/USD) – Week 17 – In the middle of a correction.Last week, WTI respected our analysis and dropped from the resistance level. Next week, we first expect the price to finish consolidating and then drop towards the liquidity pool area. Right now, we find ourselves in the middle of a bigger degree correction and the higher probability is that the price will drop, but we recommend caution. Keep an eye on Wednesday’s weekly EIA stocks report as it may have an impact on this asset. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:USDWTIShort
by financialflagship
22
US OIL (WTI/USD) – Week 16 – Critical point.Last week, WTI respected our analysis and reached the $63 resistance level. Next week, we expect the price to lose some momentum and start another bearish move that could push the barrel price towards the liquidity pool area. Keep an eye on Wednesday’s weekly EIA stocks report as it may have an impact on this asset. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:USDWTIShort
by financialflagship
20
Check the oil situation It has already touched the resistance and has not been able to break it, and it is likely that the price will fall and return to further support from breaking the resistance because there is a death cross in the stock RSI indicator. If we see another attempt to break the resistance and succeed, it is likely to climb to its nearest peak In general, the price is more likely to fall because it has not been able to overcome its resistance and a death cross has occurred in the stock RSI indicator.
FX:USOILShort
by javadrezvani
4
US OIL (WTI/USD) – Week 15 – In the middle of nowhere.Last week, WTI ranged the whole week and didn’t provide any proper signal for a buy or a sell, as the price is moving up and down around the support zone. Next week, we expect the price to reach the resistance area highlighted on the chart, before falling towards to liquidity pool located in the ‘50s. Keep an eye on Wednesday's weekly EIA stocks report as it may have an impact on this asset. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:USDWTILong
by financialflagship
18
WTI before decisionThe short-term downward trend, since the movement high of 8 March, continues to hold the black gold of the global economy in check. As can be seen impressively, US WTI oil has already been clearly rejected from this trend line several times and especially just yesterday at the start of the week. Monday's setback almost took it back to support at USD 57.40. Accordingly, the tension could not be greater. A defence of this level still allows a quick upward reaction to 62.00 USD. If there is further buying interest, a reaction to the level of 66.00 USD is possible, before the round 70.00 USD mark could be put on the agenda again. However, the dominance on the long side should come into play immediately. If, on the other hand, the support level of USD 57.40 is abandoned, one would have to take into account an extension of the price weakness to the next support level at USD 52.00. A dip below this level would be a serious threat to the price. A dip below this level would be critical for the further course.
FX_IDC:USDWTI
by Michael-Neubauer
US OIL (WTI/USD) – Week 14 – Medium-term bearish.On Thursday, the OPEC+ alliance decided to gradually increase the production starting from May in order to keep crude oil prices in check. Last week, WTI corrected and almost reached the resistance target that we forecasted in our previous analysis. Next week, we expect the price to reach the resistance area highlighted on the chart, before falling towards to support area located in the mid-’50s. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:USDWTIShort
by financialflagship
18
WTI on the verge of a reversal?The rally of black gold in the form of the oil price, especially the WTI grade, peaked at the beginning of the month in the direction of the USD 70.00 mark. The appreciation, which became increasingly pronounced with the breakout at the end of 2020, ended just before this. The support level around USD 59.00 per barrel was fiercely contested these days. However, with yesterday's price weakness, after the impulse recovery from the talk, WTI oil is again at a stalemate. If new lows can be prevented, there could be a rapid upward movement to USD 62.00 and beyond to USD 66.00 as part of the defence of the upward trend line since December. The USD 70.00 mark would be within reach again. Below USD 57.40, on the other hand, a further downward wave to the next support at USD 52.00 would have to be expected. A dip below this would be critical. Contrary to the actually bullish seasonality, there could then be further declines to 48.00 and 46.00 USD. If you liked the analysis, we would be pleased if you liked or subscribed to it. You will be supporting our work enormously! Notice: Despite careful analysis, Global Investa assumes no responsibility for the content, timeliness, accuracy or completeness of the information provided. In particular, the information provided does not constitute investment advice, a recommendation to buy or investment brokerage and can in no way replace investor- and investment-appropriate advice from a professional investment advisor who takes into account the client's individual economic circumstances and level of experience.
FX_IDC:USDWTI
by Michael-Neubauer