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USOIl Crude Oil important Support LevelWTI Crude Oil is at a key support level now and i don`t think we have seen the last of it. OPEC+ unexpectedly decided to cut output in October by 100,000 barrels a day. It`s not much for now, but they will continue cutting the supply until they will get the oil to $90. I`m looking for a bounce to the $85 - $92 area before heading to $62 by the end of next year, when i expect the beginning of an electric revolution worldwide. Looking forward to read your opinion about it.
TVC:USOILLong
by TopgOptions
2
US OIl Trend Analysis 25/11/2022After Saudi Arabia denied a report that it was discussing an increase in oil supply with OPEC and its allies, there are now reports that they will promise additional measures to ensure oil market stability. Saudi and Iraqi energy ministers have been reported saying that there is an importance of working within the OPEC+ framework. as a consequence, oil rose in early trade on Friday despite the worries about Chinese demand and expectations due to the increase of covid in the nation: China's Covid infections hit record as economic outlook darkens.
TVC:USOIL
by OAurthor
WTI Crude Oil: Are we following BTC's previous top? 18/05/22 Shown is an overlay of Bitcoin's previous top ~$69k. We are showing very similar price action of a wide, heavy range at highs, with the micro lower highs on the underside signalling a continuation / blow off top spike is possible. Product supply is increasing from several refineries opening from maintenance alongside seasonal demand, allowing for the current upward pressure. Longer term problems for crude oil range from high consumer energy prices to a declining SP while $ strengthens. Several COVID spikes globally also once again pose a risk. This is a fractal that I have been keeping my eye on for quite some time, and is one that I have seen on several assets, across several timeframes.
OANDA:WTICOUSD
by fvideira
8
WTI Crude / CL - An Intervention: Saving Blind BullsWhen crude was trading at $120 a few months ago, all you would hear on Twitter from people like Javier Blas from Bloomberg and other propaganda pundits is about how the fundamentals of oil are so bullish, because OPEC production is maxed out, the Russian Federation's invasion of Ukraine, domestic demand because summer, the government donating the strategic reserves to Chinese Communist Party firms on the cheap , etc, etc. There was all that chatter about Europe putting a price cap on Russian oil, and that causing the price to surge overnight to $350 in some kind of dystopian nightmare. At the time, everyone wanted to get long. Everyone would only get long. I remember one day in July oil returned to $91 on like a 10% daily drop and one Twitter pundit thanked the market makers for their "delta squeezing put options" before expiry and that he was happy that he got to buy calls that cheap because it was never going to happen again. This is the way bull runs are. They tend to end when the narrative flips entirely to "who would ever short this?!" And that ending is easier for bulls when something gaps down and breaks the momentum than it is with the price pattern being employed by the WTI MMs where everything all the way up and all the way down is trading in an efficient pattern that seeks-and-destroys both ways on the shorter timeframe. In terms of specific price action, as I pointed out in my early August call that oil was on its way to far lower double digit numbers: WTI Crude Oil - Running and Gunning That the August price action with a quiet sweep of the July ~$86 lows, followed by a bounce, followed by a quadruple bottom, was simply too naive to think would be support. Now, we're at $81, and it once again sounds like a dip to buy. And while we're probably going to see a run back to $86~, this market is no longer in a dip to buy position. A lot of things make sense when you look at the monthly: All of this price action we just experienced in early 2021 was, ultimately, a clean up of the unfinished business from the 2008 bubble pop, which was never addressed during the 2010-2014 ranging. And really, after oil hit... -$38 during Coronavirus Disease 2019 hysteria, you really have to call that the bottom. If you can't call -$38 the bottom, what would a bottom ever be? Now, for those who guffaw at the prospect of oil going back to $50, this is totally fair enough. As always, it sounds impossible, until it unfolds. Humans are only able to believe in what they see. Having even a modicum of faith is a real stretch for almost everyone. But I would like to point out that there is a precedental fractal left behind in the run up to the 2008 bubble pop, which you can see on the left hand side of the monthly chart above. Oil more or less traded in a miniature of this exact same 2022 pattern. When it broke its pivots before finally rocketing to $140, it amounted to a total 35% $28 downturn, which was an enormous number in those trading ranges. Everything is highly inflated and much more volatile and interesting today. The weekly chart shows just how dangerous the situation is for bulls. The reality is, the only inefficiency during this current market structure is in this $81 range, which we are sitting in. It's not showing a lot of interest in bouncing, and it would have to get back into the $100s to really count as a reversal. So if $80 isn't the target to make a bottom at, what is? Well, looking at the daily we can see more clearly that there's something of a plan B in the $69 range that can count as maintaining market structure if a reversal occurs within it. And there's also a chance to maintain the trendline at $66. But in reality, there's a fat double bottom to blow away formed from the September and December 2021 lows. And based on the weekly, there are inefficiencies left behind that were never readdressed at the unfortunate numbers around $50, and specifically right under the psychological $50 level. In my opinion, before oil turns around and rips North to levels that will make living in this world nearly impossible for everyone who isn't a billionaire, the MMs will seek and destroy these levels. And they may stop being so polite about it. It may start to come faster and faster. At some point in the near term future, dumps may come with a quick and significant gap down, and this time, they won't fill. Pundits, analysts, and all sorts of charlatans will all be stunned and bewildered by how it could happen under the macro conditions. And then they will all say "oh, of course, look at these data points. It was only natural that $120 was an inflated number." The answer, they will say, is undoubtedly "something something mainland China 'Zero-COVID' economic demand," not understanding the real state of disaster being wrought in that country as Wuhan Pneumonia goes on a tear and the Chinese Communist Party is starting to be unable to cover it up for much longer. But $125~ was not a top for WTI crude, and neither was $140. A much more painful number like $180 or $200 is coming, and it's not going to take years to get there. I believe that natural gas, likewise, has a lot of downside left to go: Natural Gas / NG - What, Truly, Is a Bull? A lot of things are probably going to bounce for a bit longer and then start to very aggressively dump. You should be prepared for this. Stop listening to talking heads, propaganda, and charlatans, and be rational. None of them want to help you survive financially and none of them want you to be rich. Most of them don't even trade. Trading is hard. Everyone who has ever traded with live funds knows how hard it is to get in at the right time, in the right direction, and hold through all the chaos and pain until something bears fruit. Fronting and flexing on the Internet to a flock of 50 Cent Party bots and collecting a 6 figure salary from Bloomberg or a 6 figure donation from YouTube's profit sharing program, on the other hand, is just so, so easy. Talk is cheap, and yet, mastery is not. Rationality is, ultimately, linked to your level of morality and your values.
NYMEX:CL1!
by LordWrymouth
4
WTIUSD / Oil - Technical AnalysisReviewing the daily chart shows extreme pressure to the downside over recent days, yet the bottom trend line held. We are still range bound with no clear trend, however analysing the current range, an uptrend is assumed. It is important to counter in the news and market sentiment. With ongoing conflict affecting supply chains, and concerns over supply chains being cut-off or heavily reduced, this will negatively impact supply and increase demand - leading to higher prices. Technical Analysis RSI is nearing the oversold level, and has on the last 2 days turned upwards - however looking over the last few days, this is no guarantee of continuation. We have a bullish looking formation in the last 3 days of daily candles, with large wicks rejecting the botton of the trend line. Support levels: 100.95 93.00 84.30 73.30 Resistance levels: 126.35 111.50
FXOPEN:XTIUSDLong
by robertofiorentino9
1
WTI @ Crispy Potato28/03/2022 FORECAST FOR WEEK 5 MARCH 2022 = BULL DAYS WEEK 4 OF MARCH FORECAST WAS = BULL = ACCURATE PROBABILITY FOR WEEK 5 MARCH = BULL This week opened Bull with some of the lowest volumes in a while indicating price can easily rise further. Tuesday produced a small bear candle noting an increase in volume, decent too. This didn't produce any move the next day. Wednesday was Bull, a slight drop in volume, Thursday Bear again, with another increase in volume. Friday opened lower but finished small Bull, volume matches Thursday's volume. Path of least resistance says Bull week again. WEEK WEEK 4 OF MARCH FORECAST WAS = NEUTRAL = ACCURATE PROBABILITY FOR WEEK 5 MARCH = BULL This week was a decent bull candle. The volume has picked up again from last week around 5% more. There was little tail on the bottom of this, indicating not a great deal of effort was applied to bring the price lower. The OBV is still affected by the rather large move 3 weeks ago which makes it difficult to interpret.
OANDA:XAUUSDLong
by eatmycrispypotato
USOIL potential for bullish momentum! | 14th March 2022Prices are on bullish momentum and abiding by an ascending trendline. We see the potential for a bounce from our buy entry at 103.9 in line with 61.8% Fibonacci retracement towards our Take Profit at 113.5 in line with 50% Fibonacci retracement . RSI is at levels where bounces previously occurred. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FX:USOILSPOTLong
by FXCM
USOIL H4 Potential Bounce | 28th Feb 2022On the H4, with price moving above the ichimoku cloud , we can expect bullish continuation from our entry at 90.72 in line with 78.6% Fibonacci retracement towards our take profit at 99.74 which is a strong resistance and in line with 78.6% Fibonacci retracement . Alternatively, price may break entry structure and head for stop loss, which coincides with the horizontal swing low support at 87.78. 4 hours ago Comment: Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FX:USOILSPOTLong
by FXCM
WTI BULL March (initially Bear or sideways)26/02/22 FORECAST FOR WEEK 1 MARCH 2022 = NO CLEAR CALL COMBINED FORECAST FOR MARCH 2022 = BULL (with an initial bearish start) DAYS WEEK 4 OF FEB FORECAST = BEAR = INACCURATE PROBABILITY FOR WEEK 1 MARCH = NO CLEAR CALL POSSIBLE This week was fairly neutral, until Thursday when a significant shooting star formed. The volume towered over all previous volumes, very nervous investors due to war. Friday's volume smaller, candle formed a spinning top. Next week has a good probability of being indecisive. OBV is very bullish. WEEK WEEK 4 OF FEB FORECAST = BEAR = INACCURATE PROBABILITY FOR NEXT WEEK = BEAR or Sideways Large shooting star, a bull with exceptional volume. Previous weeks had tails rejecting move to the south. Overall week trend looks to be stalling. OBV is trending north, with this, it may indicate a stronger momentum at play. Based purely on the price action path of least resistance says a few more bear candles are to come. No call for a reversal at this point. MONTH FORECAST MONTH = BULL Sizable bull candle body with 1.2 times tail to the north. Clear of the previous resistance level this chart is now bull led by their influence. OBV now trends BULL another confirmation of a BULL dominated influence. The chart looks to have commenced a BULL rally. ============================= FEB WAS BULL = ACCURATE JANUARY FORECAST FOR FEB 2022 = BULL
OANDA:WTICOUSDLong
by eatmycrispypotato
WTI Same Price Action in between Jan-Oct 2018Good Afternoon Traders, WTI weekly chart seems to be forming the same price action between January 2018 and October 2018. RSI chart losing momentum while price getting new highs. Price should pass Oct 2021 highs to lose momentum and get in the range between $50-65. I decided to watch Crude oil and set up some alerts regarding its price action. I will share ideas and I look for a good Short set-up for US OIL . If you enjoy my graph, please make sure you like and follow me . Your feedback will always be appreciated. Wish you a great day and Stay Safe! TVC:USOIL
OANDA:WTICOUSDShort
by gorkemaydogan
Crude Oil (WTI): Key Levels to Watch 🛢️ Hey traders, Contemplating this bullish rally on WTI, here are the major key level to watch for pullbacks. 77.0 - is the structure resistance that went broken this week. Now it turned into a support 91.0 is a minor monthly/weekly resistance. The price may retrace from that. 107.0 - 115.0 is a major monthly resistance cluster. A strong bearish reaction will be expected from that. Be prepared for a bullish continuation. Try to catch it on an occasional pullback. ❤️Please, support this idea with like and comment!❤️
TVC:USOILLong
by VasilyTrader
24
WTI Crude - Breakout Imminent?Oil prices have rebounded strongly over the last couple of weeks, with WTI coming within a whisker of $70 before profit-taking kicked in. The pullback today was short-lived and after falling close to $67 it recovered the bulk of the losses to trade in between two key technical levels. Above, $70 is an important psychological barrier that coincides with the 200/233-period SMA band on the 4-hour chart. This is also around the 55/89-day SMA band. Below, the 55/89-period SMA on the 4-hour chart coincides with recent support that has been tested on a number of occasions this past week. A breakout in either direction may indicate the direction of travel in the coming weeks.
OANDA:WTICOUSD
by OANDA
CRUDE OIL (WTI) Technical Outlook & Price Action 🛢️ Hey traders, I received a lot of questions about WTI Oil. Analyzing a daily time frame, since 77.0 level - current year's high was reached, the market started a nice correction cycle. Trading in a local bearish trend from the beginning of July, the price managed to form multiple bearish impulses setting lower lows and lower highs. From 20th of July though the price is stuck on 65.0 level. Setting two equal lows there, for now, the price didn't manage to break that. However, the lower highs that the price keeps setting, signify a bearish accumulation. Be prepared for a breakout attempt of the underlined yellow support and sell the market after a daily candle close below that. Next support will be 62.0 level. For now, I wouldn't trade OIL, Be patient and wait for a breakout first! ❤️Please, support this idea with a like and comment!❤️
TVC:USOILShort
by VasilyTrader
19
WTI POTENTIAL LONG SCENARIOCRUDE OIL is trading in a kind of a massive wedge And now oil is falling down to retest the rising support and trendline around 68.00-69.00$ From the Support line expecting a local pullback With the final target being the horizontal resistance above around 71.00 $! Today is NON=Farm Payrolls and traders can see big movements. If the OIl breaks the support on 68.00 , next target would e 63 $ 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.
TVC:USOIL
by legacyFXofficial
Dont be negativeso you losted all your munz, so what? it cud always be worser. this is important history lessn for pro traders from a vetern who livd through the histori of stuff ok so let me educ8 u, this happen a long time ago, i tink around... april 2020? ya peepo was looky looky at da oils cuz da oils was droppa it was $2 buckarinos or sumtin and dey though: "hey i kno is so low i buy i buy", but they died. what dems were really buying fo real werent da oils at all, dey was da oil future contracs. lemme get u learned about dat a futures contract is when you say hey bro i wanna pay you for this now and get it later lol. anyway, oil future be all like: ima go low and low, it went so low it was crazi. it went to $0.02 cent and den peeps really went mad. it cant go much lower!!! lol!!! so it go to -$40 a baller LMAO REKT BUT WAIT HOW so ok basically u buy dis ting and u get 40 bux back?! ya ya ay cool. dey post in on websit for mentally challenged wall street bets on la reddit and peeps were buying it like a hot cake howeva da story aint ova.... cuz wat dem pepes didnt know is they had to take physical delivery of dat oil...... yup! dat was how da futur contrac worked, u buy u buy and den u can sell, but nobody want to buy cuz u needed to go der and get all dat oil LMAO or else u was in breach of contrac so let dat be a lesson to you about stuff, i not sure wat da lesson is, let me make some shit up. yeah, the lesson is there is no bottom for sum tings so make sure u know wat u buyin and also buy algorand cuz it gon go uppa a lot the end
TVC:USOIL
by coinhoIio
WTI Crude - Time for a correction?Oil prices have been tearing higher since the start of November, rising more than 40% to return to far healthier levels. The rally has started to slow though and with so much good news - vaccines, OPEC+ deal, US stimulus deal (almost) - now priced in, I wonder whether we're about to see a bit of a corrective move. WTI has trended higher nicely, following the 55/89 period SMAs on the 4-hour chart and a break of this may be the first clue that it's run its course. WTI peaked just above $49 today, entering what has been a major area of support over the last couple of years before becoming resistance in early 2020. While a US stimulus deal would be positive for oil demand in the coming months, I wonder how much it is already priced in. It may give crude a small bump but would profit taking then kick in?
OANDA:WTICOUSD
by OANDA