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.
Xtiusd
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
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XTIUSD: Long Trading Opportunity
XTIUSD
- Classic bullish pattern
- Our team expects growth
SUGGESTED TRADE:
Swing Trade
Long XTIUSD
Entry - 93.67
Stop - 87.22
Take - 103.36
Our Risk - 1%
Start protection of your profits from lower levels.
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XTIUSD trade will be in new waveXTIUSD trade will be in new wave to hit new high level. Trade will be in the range of 88-73 level back towards $150 level.
We publish precise and compact information after careful consideration which give you quick glimpse for comparative analysis. Always do your own analysis before taking any trade. Our aim is to deliver simple and compact information which can be used by beginner to give them brief understanding of trades without any complexity. if you have any question or want to ask about analysis of other pairs or you have any confusion about analysis then feel free to ask us. Don't forget to support us by sharing our ideas and hit like and subscribe button. You can support us through coins donation for more frequent signals.
" USOIL " Buy Trade ( With 1000 Pips Target )Good Morning Trader's ,, How Are You Today ?
Let's Explain Together "USOIL" Chart And Reasons To BUY From This Area !
1- What Is The Trend For USOIL ? Now ,, It's In Down Trend ,, We Have Break Out Trend Line And Channel And Wait To Break Out Resistance Area To Enter Buy
2- Why We Will BUY From This Area ? Trend Line Break Out - Channel Break Out - Gann Direction
3- When We Close The Target As Stop Lose ? When USOIL Close Down 90.00 With Daily Candle
Any Questions Please Write me On Comments !
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.
XTIUSD....BUY (7.10%)after a long sell on oil, XTI formed a double bottom between 5th and 17th August.....finally i'm expecting a bull run on XTIISD...int0 $96 per barrel!!!
There's a possibility for a price rejection at $94.2
NB: red box: rejection zone
blue box: breakout zone
USoil or CRUDE oil will be in the hypeUSOIL, Crude oil will boost up from range. Trade moved in three directions according to our previous analysis. now new wave will be up from range 88-73 back towards new highest level of history.
We are consistent with our previous analysis. We publish precise and compact information after careful consideration which give you quick glimpse for comparative analysis. Our aim is to deliver simple and compact information which can be used by beginner to give them brief understanding of trades without any complexity. if you have any question or want to ask about analysis of other pairs or you have any confusion about analysis then feel free to ask us. Don't forget to support by share your ideas and hit like and subscribe button. You can support us through coins donation for more frequent signals.
Do your own comparative analysis before jumping into pool.
US Dollar Fundamentals -WTI Slips To 6 Month LowsToday the market released US Building Permits data as mentioned yesterday (Actual: 1.674M Forecast: 1.650M Previous:1.696M), this showed a bullish sentiment in relation to the expected data, but in regards to the previous data from June this data was bearish for the greenback as the value was less, less building permits means less construction starts and less growth in the economy. Core CPI data for Canada which helped the Loonie show bullish strength earlier in the New York session was also released today, the data showed Canadian inflation rose last month, but the inflation trend has been decreasing overall, the data showed an (Actual: 0.5% Previous: 0.3%), where there was no forecasted value. These were the fundamental economic reports for today. Tomorrow US Retail Sales data will be released which will be bringing strong volatility to the market, along with crude oil inventories and an FOMC meeting. So it is likely after the result of these fundamental economic reports the market will turn to a direction in which we can look to speculate on after such as if these reports cause a large spike in the market bringing strong bullish volatility, then we can short the market later on. Currently the FX market sits quite neutral from my standpoint. During the New York session WTI oil slipped earlier today to 6-7 month lows to 85.3 dollars a barrel.
Ilyas Khan Top1 Markets
USDWTI H4 - Short SetupUSDWTI H4
Bearish trend on this setup has really started to take off, good end to the week, but the start of the week has really picked up where we had left off. Ideally want to see a close below $87/b today or tomorrow, this would really turn the tables on the LTF and help us seek the next lower low leg. With short term targets of $84/b.
USDWTI D1 - Short Signal SetupUSDWTI D1
Pretty much everything we are scouting out is on this higher timeframe, really trying to understand market bias and direction (USD bull continuations expected) before diving into the LTF entries (H4/H1).
Nice area of D1 supply and S/R here on WTI. Targets of $85/b with a little over $2/b stops gives us over 4R potential.
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.
XTIUSD - SHORT IDEABEARISH TREND CONTINUES
LH , LL formations
Price took rejection from 61.80 % FIB level, along with the Trendline, acting as Resistance.
Currently, price is getting rejected from 78.60 % FIB and Hourly Resistance.
In this process, a LL, and LH are created
Bearish Engulfing found at LH
Strong Daily support lies below, if it is broken, a short entry will be taken.
USOIL Intraday longUSOIL/ US Crude has been pulling back to our resistance. We will first catch the bullish move on the hourly timeframe and wait for aa bearish confirmation once our ABCD pattern is complete. Once we have the confirmation, we will short the XTIUSD.
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USOIL 27th JULY 2022Oil prices rose for the second day in a row, Tuesday (26/7). Amid growing concerns about tightening European supplies after Russia, a major energy supplier is cutting gas supplies via a main pipeline. The European Union has repeatedly accused Russia of using energy blackmail. The Kremlin said the shortage had been caused by maintenance issues and Western sanctions.
EU energy ministers on Tuesday approved a proposal for all EU countries to cut voluntary gas use by 15% from August to March.
The Organization of the Petroleum Exporting Countries and allied producers (OPEC+) are expected to confirm as a mere formality their decision to expand oil production by 650,000 barrels per day in July and August. The OPEC+ group of producers including Russia, began two days of meetings on Wednesday, though sources said there was little prospect of agreement to pump more oil . The net drop in crude oil inventories was flattered by SPR (Strategic Petroleum Reserve) releases, while the gasoline stock jump is because U.S. refineries are running at over 95% capacity.
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