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Oil's buying Opportunity - A return back to 60s Levels?Fundamental Analysis: It’s been nearly three years since the world’s top oil exporter and OPEC’s de facto leader Saudi Arabia forged an alliance with Russia to start managing oil supply with the hope of rebalancing the market and ensuring, in their words, market stability, in other words—higher oil prices. While they have managed to put a floor under oil prices, the allies in the OPEC+ deal have failed to materially move prices higher. With fears of demand faltering, the leaders of the pact—Saudi Arabia and Russia—face a tough test ahead. On top of these questions, the leaders of the OPEC+ coalition are now facing another force on the oil market—increased unpredictability in geopolitics, as the attacks on vital Saudi oil infrastructure that knocked 5 percent of global oil supply offline for a few weeks showed. Technical Analysis: The WTI Crude Oil market initially fell during the trading session on Thursday, before bouncing significantly to form a hammer later in the day. All things been equal though, the $50 level underneath will probably be attempted but a short-term bounce may happen between now and then. If we were to break down below the $50 level, that would be an extraordinarily negative sign. The RSI has now reached the bullish pressure line, increasing the odds of a reversal. A push upside will lead oil to the institutional levels at 60$ per barrel. Holdings: Bought Oil @52.60, USOU @16.91 and UWT @9.27.
OANDA:WTICOUSDLong
by Theperfectionist
19
Daily and Weekly Analysis on US OIL by ThinkingAntsOkUse this as a guide to develop your own setup Main items we see on the Daily chart: a)The price is on a key level, we need to wait for Bearish or Bullish Reaction b)Why this level is important? Because we will have solid clues to think on Bullish or Bearish Setups depending if the price consolidates above or below this zone c)If the Bearish Scenario happens, we will wait for consolidation on the Support Zone, that will be a Strong Signal to think on a bearish Setup. d)If the Bullish Scenario happens, we will wait for consolidation, but we don't have a good identified level yet. e)By the moment we will not enter the market we will just observe the price behaviors on this week Weekly Analysis
TVC:USOIL
by ThinkingAntsOk
oil, cl, day trading levels for Sep 27yhThe levels I am pointing out are directional signaling areas and are not always the trade trigger. after a direction is established for my trade i then need to have a triggering event. The trigger can be right at the break point but often is not and the market will have to provide me some real time info to actually create the trigger so the action can be fired upon. I look at trades as 2 parts one is a directional signal and second a trigger or action point. Action point will be looking at things like possible reward and possible risk and is the action cooperating with the signalling direction. In the live trading room my software create triggers it is up to the trader to see if the trigger matches there personal risk reward. I point this out because I have been getting lots of questions as of late on what my red zone means. I will not be adding much about the market today due to the fact the red zone was broken lower as of this typing and will possibly provide a second post today after the break move has digested.
FX:USOIL
by alleytrader
oil, cl, day trading for Sep 18thOil has had a good sized moves off the big spike up and is now right on top of the upper side of the prior distribution, a drop into this lower distribution should see oil back trading in the same range it was for the last couple weeks. A bounce off this range could see us form a new larger distribution 58 to 63 range. Today will be watching close for impulsive moves that I can grab a follow through move from. Join my day trade room for live signals or I do my best to update here around the time of the trade.
FX:USOIL
by alleytrader
crude oil daily update , possible trade plandear traders , in this chart i try to explain the possible trading plan for the next months , this is only a theory of mine , but its the only way i see it i have valuated this chart myself and i give it around 65% chance that it would work. the red arrows and the blue arrows shows the resemblance that im expecting to happened to complete the pattern and the pattern within the pattern blue arrows for the main pattern red arrows for the pattern within the pattern yellow arrows for the pattern within the pattern within the pattern , you feel dizzy already ? hahahha anyway , hopefully it will work and good luck
NYMEX:CL1!
by Cruddest
17