USOILThere's 2 scenarios that the green one is more likely so without the signal don't enter your positions
Brent
Possible short for Brent UKOILI am expecting a possible short for Brent UKOIL. The wedge seem as broken and testing the lower line. The content of idea not to be constituted as Financial Advice. Trades I publish are Trades I execute myself.
Brent: strengthensAnd so, with regard to oil, another approach is assumed to 83.17. Further, strengthening of oil is possible in the future with minor corrections. Current prices can become a solid foundation for the price hike to the 90$-100$ levels.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
CADCHF: next downward movementAnd so, the next move for the CADCHF pair is likely to be an approach to support at 0.72755. The price is currently in the resistance area, so it makes sense to look closely at the shorts. However, it is not worthwhile to stretch the sales and set big goals. The fall is limited by the level of 0.72445.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
Brent Crude Oil Short Idea Brent Crude Oil has reached the Key physiological level of 80.00. On Friday the price surpassed the 82.50 area however since then the price has been unable to break past the previous high. On the Daily and 1hr time frame, the RSI levels are in oversold areas which indicates a sell on a short-term bias sentiment. The initial target for this trade is located at 81.20 - followed by 79.62 if the downtrend continues. The stop-loss is located at 82.88.
Oil Updates for the day 10/1/2022Hello everyone, as we all know the market action discounts everything :)
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Oil prices rose slightly on Monday, as supply bottlenecks in Kazakhstan and Libya countered concerns about the rapid global rise in Omicron infections.
Brent crude was up 24 cents, or 0.3 percent, to $81.99 a barrel , while WTI crude in the United States was up 22 cents, or 0.3 percent, to $79.12 a barrel.
Protests in Kazakhstan disrupted train lines and impacted production at the country's largest oilfield Tengiz, while pipeline repairs in Libya reduced output to 729,000 barrels per day from a peak of 1.3 million bpd last year.
Russia's output appears to be reaching a ceiling as well and these variables "appear to be continuing to construct up a positive narrative for oil
Tengizchevroil (TCO), Kazakhstan's largest oil venture, is gradually increasing output to normal levels at the Tengiz field after protesters hampered output there in recent days, operator Chevron (NYSE:CVX) said on Sunday.
If Russia invades Ukraine, it might impair Russian crude deliveries to Europe, pushing up oil prices, according to RBC Capital analysts.
Rising global demand and lower-than-expected supply additions from the Organization of the Petroleum Exporting Countries, Russia, and allies, or OPEC+, are also helping oil.
OPEC output increased by 70,000 barrels per day (bpd) in December, compared to the 253,000 bpd rise allowed under the OPEC+ supply accord, which restored output slashed in 2020 when demand dropped due to COVID-19 lockdowns.
Energy companies in the United States began the new year by continuing to add oil and natural gas rigs after boosting the rig count in 2021 after two years of reductions.
The oil and gas rig count, a leading predictor of future output, increased by two to 588 in the week ending Jan. 7, the most since April 2020, according to Baker Hughes Co's highly watched report on Friday.
Globally, countries ranging from Europe to China and India have imposed restrictions in response to the highly transmissible Omicron coronavirus strain.
In the United States, employment increased less than predicted in December due to labor shortages, and job increases may remain modest in the short term as COVID-19 infections spread and impair economic activity.
Resistance points for the WTI
1) 81.64
2) 84.21
3) 87.78
Support points for the WTI
1) 75.50
2) 71.93
3) 69.36
Resistance points for the Brent Oil
1) 84.32
2) 86.71
3) 90.27
Support points for the Brent Oil
1) 78.37
2) 74.81
3) 72.42
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
IF a new bullish impulse is coming. How can I trade it? | USOIL Today, we will look at one of my favorite assets to trade Crude Oil / USoil or the ticker you like the most.
The main scenario I want to get ready is a possible bullish movement based on the current price action I'm observing.
- Bullish impulse coming from 0 towards 77.5
- 77.5 is a major support resistance that has been working since 2006
- That level worked in two ways in the past every time the past reached it from below. We observed major bearish movements, or we observe choppy conditions on edge with following bullish movements towards prices like 110
Ok, so based on that what can we expect?
Based on the current conditions, I can see a lot of similarities between the current bullish impulse with the previous bullish impulse that happened from January 2009 to May 2010. Even the size of the correction happening right now shares deep similarities with the previous one. That's why I'm thinking about this bullish scenario happening in 2022.
I have looked for several examples in the past to define the current template I will share here regarding how I want to trade it. This is my conclusion.
So, if the price breaks the current correction and makes an 8% to 12% retracement, I will set pending orders on a new high and stop loss below the retracement with a target on the next resistance zone around 110.
Of course, this is not happening right now; that's why patience is very important. Also, remember that we are working with statistics; therefore, the scenario may never happen, which is great because you didn't risk any trading capital. The risk I will be taking on a setup like this is 3% of my trading capital; the risk to reward ratio I will be aiming for is 2.5 (for every dollar I'm risking, I'm looking to make 2.5), And the odds of this setup being right would be around 50% based on my historical results trading this asset and backtesting it.
Thanks for reading! Feel free to share your view in the comments.
Brent Oil UK 4H (uptrend )U.K Oil, after all success trying to up, i expect will continue their upward trend due to channel pattern,
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Uptrend
Entry: above 82.50
Tp.: 84.2 & 85 & 86
Sl.: 79.05
Brent: to resistance 83.17And so, a slight increase is expected for oil to the level of 83.17. Whence it is necessary to tell, the correction downward will most likely be observed. The targets of such a downward movement will be the level of 80.45.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
Brent OIL Long 1) Completed 5 wave correction (last extension due to Omicron)
2) Start of the bull leg with nice bullish volume
3) Break and retest first 200EMA (this cycle with 61.8 fib), and 50EMA (both cycles)
4) Break the structure and continue.
RSI = Break, retest and continue above the EMA. A lot of space to the upside.
GOLD: retreat of buyersAnd so, Gold is trading above the level of 1806.965, which favors buyers. From this level, the price can continue its slight growth to the resistance at the level of 1830. At the moment, the growth of Gold is limited at this point. The further direction will need to be determined based on the price reaction to the resistance at the level of 1830.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
USDCAD: under the pressure of sellersAnd so, the USDCAD currency pair continues to trade below the resistance line, which indicates a continuation of the downtrend. The Canadian gets support from the rise in oil prices. So far, it is expected to sell to the price area 1.26127 - 1.26426, where the support is located. If it breaks through, the price will rush to the level of 1.24926, which is already a strong support and a serious obstacle for sellers in USDCAD.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
Brent: growth would continueAnd so, Oil is getting support from buyers, which led to the price fixing above the 77.85 level. There is almost no doubt about further growth. At the moment, buyers' attention is directed at the level of 80.45.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
Crude Oil Elliott Wave Idea - UpdateUpdate to below idea
Could be in the final stages of an ABC correction to around the $79 level before Wave Y starts towards $52 level.
DeGRAM| USDCAD continues to fallThe US dollar is under pressure from the Canadian dollar as well. In principle, all major currencies are putting pressure on the US currency. The USDCAD currency pair is likely to continue its fall from the level of 1.28371. The target remains at 1.27283.
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Brent: All Good!Since its last low, the the benchmark crude Brent recovered pretty well! We expect the price to further increase towards $86.68. Just below that mark, another corrective movement should set in. It is, however, important that the course does not fall below $69.22 now.
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