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Brentoil

OPEC & The West Battling Over Oil Price. Who Wins?OPEC (and non OPEC members) are battling with the West led by the US over oil price. While the West wants oil price to hover around $60/barrel, OPEC and other oil producing countries led by Russia and Saudi Arabia feel no one should dictate the price of their commodity... With oil price now sitting on important support level, will the price breaks down to go lower OR there will be a reversal to and price start to move high? Technically, bulls came into the market early last week; drove the price high but bears later joined the market and brought price a little down. Coming week(s), if more bulls came into the market, then oil price will likely go up. Otherwise, if bears are more prominent in the next 1 or 2 weeks, then we might witness more decline in oil price. N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
TVC:USOIL
by BullBearMkt
UKOUSD - Fibonacci confluence area is located at 81.10UKOUSD - Intraday - We look to Sell at 84.00 (stop at 85.30) A Fibonacci confluence area is located at 81.10. Selling posted in Asia. We have a Gap open at 83.88 from 22/11 to 28/11. The sequence for trading is lower lows and highs. Previous support, now becomes resistance at 83.94. Our profit targets will be 81.10 and 79.90 Resistance: 83.88 / 83.94 / 88.01 Support: 81.10 / 79.90 / 78.07 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
VANTAGE:UKOUSDShort
by VantageMarkets
OIL, What's next?As the CPI numbers and the inflation numbers starts to slow and decrease, and banks are saying that 2023 inflation will drop even more. The oil is facing more down moves. The Saudi Arabia, needs a $75 per barrel to cover the government budget. but what if the decrease production to keep prices high, will be enough to cover the budget ?! In this chart, we are seeing too possible buys, with two possible scenarios. the first buy at $75.00 per barrel and the second one at $50.00 Always manage your risk in trading be for you enter the market. Regards.
TVC:UKOILShort
by ghattas360
Brent: Watch it burnWe're currently observing a downwards trend that should turn once the blue wave is completed. Thereupon, Brent should move above the $105.42 resistance into the turquoise target zone between $104.29 - $116.05. After hitting the target zone, Brent should turn and drop below the support at $83.61 directly into the green target zone between $77.10 - $42.16. After crossing the green zone, the green wave should be completed and turn out of the green zone to move above the $83.61 support. Since the anticipated downslope is surely not going to evolve as a straight line, we'll sketch the in-between-movements as the course comes down from the top.
TVC:UKOIL
by MarketIntel
Long WTI & Short Brent as price differential tightens?Oil Brent continues to trade at a premium of more than $8 per barrel to WTI oil , with the price difference between the two oil benchmarks increasing significantly and well above its historical average this year. One of the primary drivers of the widening Brent/WTI price spread has been a significant increase in the availability of North American crude, which has created more downward price pressure on the WTI market. The US government has injected180 million barrels of crude into the market through scheduled Strategic Petroleum Reserve (SPR) releases as of October 18, 2022, to help resolve the market supply disruption created by Russia's full-scale invasion of Ukraine and to help cut energy costs. U.S. SPR releases are now complete, and crude oil reserves in the United States are at their lowest point since 1983, according to the latest estimates from EIA. The possibility that the Democrats would suffer a loss in the midterm elections in two weeks might rule out the possibility of more SPR releases being made at a later stage. In this scenario, the forces that pushed the price of WTI below that of Brent would diminish significantly. As a result, the price spread between the two oil benchmarks may return to tighter levels. Going long on WTI and short on Brent is one way to reflect the idea of closing this oil price gap. Throughout 2021, the difference between WTI and Brent was on average about -$2/bbl and ranged from -$4.5/bbl to parity levels. A mean reversion to the period prior to US SPR releases would suggest an increase from current prices of about $6.5/bbl. If, on the other side, the spread widens again and breaks through the -$10/bbl threshold, the strategy will be proven incorrect.
NYMEX:CL1!
by Capitalcom
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