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OIL Bull (will make a lower high)today OIL dropped to 62 .70 a support Daily zone, and rebound there on divergence. I think OIL will go to make a lower high, because weekly chart i think is already bearish. See price action, before go long (zone to buy on chart) Targets on chart. Be carefull, patient and discipline. This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading. Good trades to All.
OANDA:WTICOUSDLong
by miketiger
☑️Brent: still downtrend correction➡️ For oil, further downward movement is expected as part of the correction, for now. Meanwhile, OPEC lowered its forecast for global oil demand in 2021 to 5.65 million barrels per day. She named the slowdown in demand growth in China and India as the reasons. Although it should be noted that oil did not react much at the time of these events. Technically, the price continues to decline within the downtrend channel. At the moment, the resistance level of 83.10$ has a SELL-potential, with the potential to fall just below 80$ (Target № 2 on the chart). Trade parameters are presented below. 🔔 Proposed deal for this tool 🔔: 🔴Entry Point - 83.04 ⛔️Stop Loss - 84.87 ✅Take Profit - 80.53 Thanks for your comments and likes 👍 👇🔥 LINKS TO PREVIOUS IDEAS AND FORECASTS 🔥👇
TVC:UKOILShort
by TradePlus-Fx
2
WTI: high prices would remainOn Tuesday, prices for WTI crude oil showed indecision. These dynamics indicate consolidation in the short term. However, a corrective decline should not be ruled out, as the asset is close to overbought levels. However, buyers' immediate target is the $ 82.00 mark. On Monday, JP Morgan analysts said that the average price of Brent crude will be $ 70- $ 80 in the 4th quarter of 2021 amid the ongoing recovery in global consumption. Continued supply chain disruptions represent an upward risk factor for this projection. Nevertheless, the OPEC + alliance has sufficient capacity to increase production, and it can do so if prices continue to rise. Oil prices are likely to remain high in the medium term. Proposed deal for this tool: Entry Point - 80.69 Stop Loss - 79.24 Take Profit - 82.14 Thanks for your comments and likes 👍
TVC:USOILLong
by TradePlus-Fx
Brent: forecast for Oct 11 - Oct 15Prospects for oil prices, to a greater extent, would add up to their growth or at least consolidation in the range of ~ $ 78–82. Deficit reduction is progressing more slowly than planned. The oil market is still in deficit, but not as before in view of the beginning of a small, but still consistent, softening of quotas by OPEC +. The decision by OPEC and its allies (OPEC +) on Monday to maintain the planned increase in oil production was prompted by fears that demand and prices could weaken. Their fears are not without reason. The current oil and gas trend indicates a likely decline in the near term. The almost vertical takeoff of gas and coal quotations, and more recently oil prices, can hardly be considered sustainable. Such market movements are more likely to end in decline than in further growth. With such sharp price surges as now, investors and traders should be prepared for verbal interventions by the buying and exporting countries. One of these statements was made by Iraqi oil minister (about a fair price for oil in the range of $ 75-80). In addition, it is very likely that the United States, China and India will try to stabilize the situation in their markets. Also, we must not forget about the daily pressure on oil from alternative energy. On the long-term horizon, the fall in demand looms more and more due to the energy transition. This is a strong incentive to ramp up oil and gas production now in order to invest revenues in the future. In general, prices are expected to roll back to the level of ~ $ 78.90 for the coming week.
SKILLING:XBRUSDShort
by TradePlus-Fx
1
Brent: countertrend dealThe decision by OPEC and OPEC + on Monday to keep the plan for a gradual increase in oil production was prompted by fears that demand and prices could weaken. The group also considered the possibility of increasing production by 800,000 barrels per day, which is almost 1% of global production, ahead of Monday's meeting. Now the OPEC countries are more cautious, because any hasty decision could lead to a sharp drop in oil prices. In the medium term, the instrument will be on the rise. Today is rich in news. Taking into account this fact, as well as the strong upward movement in oil, no one canceled short-term sales for the instrument. Proposed deal for this tool: Entry Point - 82.85 Stop Loss - 83.80 Take Profit - 82.08
SKILLING:XBRUSDShort
by TradePlus-Fx
USDCAD: in the trade balanceAnd so, the Canadian is also in anticipation of today's events during the American session. It is expected that the pair may sink at the moment, but it is unlikely to fall below 1.24911 (even more likely it would not reach and go up). The combination of technical and fundamental facts suggests that the instrument would move up in the medium term within the trade balance 1.24911 - 1.28962. Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
Long
by UnknownUnicorn15614419
5
Brent: dollar would force correctionThe oil is supported by reports that Saudi Arabia lowered its November export oil prices for Asia, the Mediterranean countries, Europe and the United States. Also, a positive factor for the oil market in recent days was the decision of the OPEC + states to maintain the previously adopted plan to increase oil production, despite the growth in demand amid a sharp rise in the cost of natural gas. In accordance with this plan, OPEC + countries will increase oil production in November by 400 thousand barrels per day. Meanwhile, data from the American Petroleum Institute (API) indicated an increase in US oil inventories by 951 thousand barrels for the week ended October 1, while analysts predicted an average rise of 4.127 million barrels. Further oil situation will directly depend on the dynamics of the US dollar. The oil itself, most likely, needs a correction, and if the dollar is not weak, this is possible. Proposed deal for this tool: Entry Point - 82.59 (SELL-Limit) Stop Loss - 83.45 Take Profit - 81.73
SKILLING:XBRUSDShort
by TradePlus-Fx
Brent: forecast for Sept 27 - Oct 1There was no negative news for the oil market following the September Fed meeting. Interest rates and asset purchases remained unchanged, although the rhetoric continued to escalate. In particular, the Fed announced its readiness to make a decision to start cutting the asset purchase program at the next meeting. Additionally, an increase in expectations for the level of the base rate in 2022-2023 was announced. Consequently, buying priority remains, but at the moment it is risky to get into a long position. The price would be corrected. From the very beginning of the week, the instrument may start its downtrend movement. It will be much more conservative to wait for oil to approach the resistance line of the ascending channel and try to sell around the level of ~ 78. Buying mood for gas and coal, as well as the expected deficit in the oil market by the end of the month, would continue to support oil prices. The trading instrument, taking into account the expected correction, would remain above $ 75 per barrel.
FXOPEN:XBRUSDShort
by TradePlus-Fx
1
A bit more patience for an awesome short XTIUSD (WTI crude)As you can see from my weekly chart, price is within a multi-year S/R zone. The daily chart shows repeated attempts to break above the zone since end of June, but failing each time. IMO, we are witnessing another effort by the bulls and we will likely see them fail again. I will be looking for a daily close below the zone, it will also be important to see this happen with some momentum, large bearish candles, more wicks to the upside…. all will support my bearish view. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money and risk management in all your trades.
FXOPEN:XTIUSDShort
by Trading_Vista
Good time to short XTIUSD (WTI crude) 06 Sep, 2021As you can see from my daily chart, after reaching a high in early July, this pair is forming a sequence of lower highs/lower lows. The recent high of 76.53 is actually a double top (scroll back to 30 Sep 2018). After bouncing off the support at 61.700, we had a pullback to 70.500. This level (area) acted as minor support/resistance during the past few months. This pullback to a previous significant level is encouraging to me – it shows a structure in the price action. In my opinion, we could be seeing the start of a bearish trend and would be ready to take a short either at current levels or better still a small pullback to 70.500. Either way, we have a good R/R whether we target the 61.700 or 53.920 region. It is important to limit the loss in case this analysis is wrong, my stop will probably be located at 72.100 area. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money and risk management in all your trades.
XShort
by Trading_Vista