Get started

Cloil

CL OIL H4 11 March 2024 🛢 CL OIL, H4 🛢 11 March 2024 Crude oil prices experience a slight dip as apprehensions persist over soft Chinese demand. Despite OPEC+ extending supply cuts, China's conservative economic growth target of around 5% for 2024 raises concerns. Analysts emphasise the challenging outlook without additional stimulus measures. Attention shifts to major central banks' potential rate cuts, including the Federal Reserve and the ECB, as lower rates could stimulate oil demand by fostering economic growth. Oil prices are trading lower following the prior breakout below the previous support level. Suggesting the commodity might extend its losses. Resistance level: 78.00, 80.20📉 Support level: 75.95, 73.45📈
TVC:USOILShort
by top_fx
CL OIL H4 6 March 2024CL OIL, H4 6 March 2024 Oil prices experienced a downturn, facing substantial pressure from the prevailing risk-off sentiment in the market, particularly in anticipation of the Federal Reserve Chair Jerome Powell's testimony scheduled for today. The heightened uncertainty has led to minimal volatility in oil prices as traders await the outcomes of the ongoing China People's Congress meeting, recognizing the potential impact of China's policies on oil prices. Oil prices have declined to their support level of 78.65, which is a potential rebound level. Suggesting a bearish momentum is forming. Resistance level: 81.20, 84.10 Support level: 78.65, 75.20
TVC:USOILShort
by top_fx
CL OIL H4 5 March 2024CL OIL, H4 In the latest session, oil prices saw a decline of over 1.3%, following a surge prompted by OPEC+'s announcement to extend its supply cut measures. The downturn is attributed to profit-taking activities among traders as oil prices neared their highest point since last November. Market participants are closely monitoring the ongoing developments from China's People's Congress meeting, with updates from the event anticipated to significantly influence oil price trends. Oil prices have declined to their support level of 78.65 level, which is at a potential rebound level. Suggesting the bullish momentum is easing. Resistance level: 78.65, 81.20 Support level: 75.20, 71.80
TVC:USOILLong
by top_fx
No bullish sign Crude oil fell below 70, with no bullish signals in the short to medium term. Oil prices have continued to fall since the second rebound in late October failed, and eventually formed a downward trend. Oil prices have hit the August low of 77.80. Oil prices showed a minor shock pattern around the lows, forming a flag relay pattern. Oil prices successfully fell below the lower edge of the flag pattern. Overall, oil prices have been weak, facing pressure from a variety of sources, including oversupply, doubts about planned production cuts, global economic uncertainty and weak gasoline demand. Investors will pay close attention to market dynamics to obtain signals on the future trend of oil prices. The focus this week will be Friday’s U.S. non-farm payrolls data. Oil prices are currently bearish, pay attention to 71.5 above.
VANTAGE:CL-OILShort
by Anthony-Ryan
Range trading The market's reaction to OPEC+'s announcement of voluntary production cuts was a further decline in oil prices. According to reports, investors were pessimistic about crude oil ahead of the OPEC+ meeting and had already priced in their expectations that production cuts would not be enough to push oil prices higher. The market's economic recession and investors' disappointed attitude towards crude oil have caused oil prices to continue to fall despite production cuts. At present, crude oil pays attention to the resistance level of 75 and the support level of 72. The current market situation is still range trading and there will be no one-sided situation.
TVC:USOILShort
by Anthony-Ryan
Crude Oil Bullish Crude prices rose as a weaker dollar and optimism that major oil producers could extend ongoing production cuts at an OPEC+ meeting later this week boosted sentiment. Although the market is still paying close attention to the production of non-OPEC countries, various positive factors have provided positive external support for oil prices. Investors' expectations for the OPEC+ meeting have kept the market cautiously optimistic about future oil prices. Secondly, the combination of a weaker dollar, expectations of production cuts, and supply concerns have driven up oil prices. Judging from the current trend of crude oil, as long as it does not fall below 74.4, oil prices will give priority to rising to test the 79.3-80 area. We also need to pay attention to the key position 75.8.
VANTAGE:CL-OILLong
by Anthony-Ryan
1
Crude oil market analysis The OPEC+ meeting has been postponed, and the market has doubts about whether oil-producing countries can insist on extending production cuts. As well as the recent weak performance of U.S. economic data, the margins of supply and demand are weak, which is not conducive to higher oil prices. The OPEC+ meeting at the end of the month will be the highlight of the oil market, and the market has a strong wait-and-see mood. Before OPEC+ announces a new production policy, oil prices may maintain a volatile adjustment. Current trading is around the 73.5-77.2 range
VANTAGE:CL-OIL
by Anthony-Ryan
Crude oil range trading Crude oil continued its downward trend at the opening on Monday, and its rebound at $75.7 once again encountered resistance and declined, indicating a bearish trend. Looking at the daily trend chart, the daily level has been negative for three consecutive times. Although there is no new low quotation, the high price has not been broken, indicating that an adjustment in crude oil prices is expected. After the oil price broke down continuously in the early stage, after hitting a new low of 72.3, the oil price rose to 78.43. However, after the subsequent oil price retracement, there was no continuation of the bulls. At this stage, it is in a triangle shock. If there is no breakthrough of the previous high, There are signs that there will be a high probability of a continued downward break. Oil prices currently focus on resistance 77.5-78.3 and support 73.7 Overall bearish
VANTAGE:CL-OILShort
by Anthony-Ryan
Expected to rise International oil prices rose more than 2% on Monday amid widespread expectations that OPEC+ will announce further production cuts after a meeting of member states early next week. Traders are eyeing potential speculative buying in crude oil trading as global risk sentiment appears to be strengthening and optimism returns among financial institutions. Crude oil continued its rebound trend and reached the pressure level, but was blocked and fell back. It is still falling back and adjusting. Since the bulls' main bottom-buying signals appeared continuously below, it has rebounded relatively slightly. At present, it should continue to fluctuate and adjust. Crude oil will currently fluctuate in the range of 78.8-75.5.
VANTAGE:CL-OILLong
by Anthony-Ryan
Crude oil range trading Crude oil prices fell for the fourth consecutive week last week. A substantial increase in inventories and record production were the main reasons for the decline in crude oil prices last week. The entire market has been weak recently due to supply concerns and a significant drop in demand. However, on Friday due to some short sellers Oil prices rose as profit-taking and U.S. sanctions on Russian crude shippers gave oil prices a bit of support. Market focus this week shifts to the upcoming OPEC+ meeting to discuss further production cuts, which could increase tensions with the United States, while the market focuses on whether Saudi Arabia and Russia extend voluntary production cuts until 2024 Crude oil support and resistance levels will continue to move upward. Crude oil is currently trading in a range. Support level 74.5 Resistance level 77.8
VANTAGE:CL-OILLong
by Anthony-Ryan
Crude oil bearish After failing to break through 80 this week, crude oil fell again to around 75.56 after the US EIA inventory data emerged yesterday. There is currently no good news for crude oil in the market. The overall trend of crude oil is very weak, showing a slow falling trend. After breaking above the moving average, oil prices did not stand firm but fell back and fell below again. The pressure on the daily line is still very strong. Crude oil is currently bearish, and you can pay attention to trading in the 73.5-77.8 range.
VANTAGE:CL-OILShort
by Anthony-Ryan
4
Long term bullish Oil prices have risen in recent days on the back of a bullish outlook from OPEC+'s monthly report and the International Energy Agency (IEA) released a monthly report on Tuesday that raised its crude oil demand growth forecast for this year and next. Oil prices have been range-bound due to signs that tensions in the Middle East may be easing and uncertainty about U.S. oil inventories. The U.S. dollar index fell sharply to a more than two-month low after U.S. CPI data was weaker than market expectations, and the International Energy Agency ( The International Energy Agency (IEA) raised its forecast for crude oil demand, and oil prices once hit a one-week high. The trend of crude oil fluctuated upward and continued to be blocked near 80, forming a repetitive rhythm of alternating main and main markets. The current support level of 77.3 and resistance level of 80 are very strong. Crude oil will more likely fluctuate within this range. Watch today's EIA data. Long term bullish
VANTAGE:CL-OILLong
by Anthony-Ryan
Crude oil range trading Oil prices rebounded by 2% last Friday, and market sentiment has improved. However, what impressed investors more deeply in the past week was the sharp decline in oil prices in the first half of the week. The rapid decline in oil prices broke through the lower edge support of the high range created by OPEC+ production cuts and the Palestinian-Israeli conflict, thus fully venting pessimism. The next key test for oil prices will be whether OPEC+, especially Saudi Arabia, will decide to extend the existing voluntary production cuts to the first quarter of next year or even longer at the OPEC meeting in December. At present, crude oil tends to trade in a range. The upper resistance is 77.5, and the lower support is 75. Overall bullish
VANTAGE:CL-OILLong
by Anthony-Ryan
Crude oil prices will continue to fall Crude oil has been in a downward and volatile trend recently, and the increase in U.S. crude oil production has eased the market shortage. Although the Palestinian-Israeli conflict has played a certain role in raising oil prices, major oil-producing countries in the Middle East such as Saudi Arabia and Iran have not participated in the war and have not jointly reduced production. OPEC+ has reduced production many times since last year, So Middle East oil production cuts are less likely. If the Arab states and Iran are involved in a war, they may jointly implement oil production cuts or embargoes, which will trigger an increase in oil prices. Crude oil continues to fluctuate downward, trading in the range of 80-84.5
VANTAGE:CL-OILShort
by Anthony-Ryan
Crude oil analysis on November 7 After crude oil rose from a low of 80.66 to 82.24 yesterday, it has been unable to break through the key resistance level and began to fall to the bottom again today. Yesterday's upward trend in crude oil was also due to the current shortage of crude oil in the market and the US market situation. Crude oil has strong support at 78.8 and resistance at 82.5. Today's market is more inclined to correct upward. Bulls are strong and are expected to break through 82.5 today Follow updates
VANTAGE:CL-OILLong
by Anthony-Ryan
Crude oil faces rising opportunities The crude oil market fell for a second straight week on renewed signs of weak demand after the premium over the risk of the Palestinian-Israeli conflict faded. However, weak data from the U.S. employment report supported market speculation that the Federal Reserve may stop raising interest rates, which provided some support for oil prices. Saudi Arabia's announcement to cut crude oil production will further push up oil prices. A tight market for crude oil is supporting crude prices. The current support level of .80 has been continuously tested but has not fallen below. Let’s see if crude oil can break through 85.5 in the future
VANTAGE:CL-OILLong
by Anthony-Ryan
The subsequent direction of crude oil The rebound of crude oil has strengthened again, and the 80.8 support node has begun to rebound. The current increase has reached 82.8, correcting yesterday's unilateral downward trend. However, if the current rise in crude oil cannot break this week's high of 85, it will be more likely to fall to a new low. The daily MA5 moving average and MA10 moving average moved down to 83.3 and 84.3 respectively. To put it simply, if crude oil cannot rise to around 85 again, it will fall below 80. Crude oil continues to be bearish in the short term. Stay tuned for continuous updates of posts.
VANTAGE:CL-OIL
by Anthony-Ryan
Markets and technicals bearish Market analysis The supply and demand of crude oil has increased but the risk of the Palestinian-Israeli conflict has not diminished. At present, oil transportation in the Middle East has not really been affected by this conflict, which is why oil prices have been experiencing corrections. Without further escalation in the Israeli-Palestinian conflict, crude oil markets were bearish. Based on technical analysis, crude oil is currently falling in a unilateral step-wise manner, bottoming out and rising after hitting daily support. The upper resistance level has moved down to 86.2. Pay attention to the support level of 82.5, which is still the watershed between bulls and bears in the market outlook. Overall analysis, crude oil has a bearish trend
VANTAGE:CL-OILShort
by Anthony-Ryan
Crude oil will continue to fall The trend of crude oil is a band, with the top near 93. It is obviously still in a downward channel, especially the short trend on the four-hour line is more obvious. The K-line is running below the Bollinger Band, and the middle rail is the resistance level of crude oil. Shorts occupy the main body. . The support level below crude oil is around 81.2. At the same time, 77 and 72 are both target levels for shorts. 87.3 for crude oil is resistance and is also a short entry. If oil prices break above 87.3, this will halt the expected bearish trend and push oil prices back into the main bullish trend.
VANTAGE:CL-OILShort
by Anthony-Ryan
3
Crude oil rose in the U.S. market. The U.S. Department of Energy abandoned its original position and relaunched the Strategic Reserve Replenishment Program. Oil prices have been falling. However, the conflict in the Middle East has a greater impact on the fluctuation of oil prices. Once the conflict escalates further, the price of crude oil will exceed 100. The short-term trend of crude oil was blocked from highs and fell. Oil prices fell below the moving average system, and the overall short momentum prevailed. The trend during the week is still within the wide upward channel. Pay attention to the supporting role of the lower edge of the channel on oil prices. It is expected that the Asian and European crude oil markets will fall during the day, and there is a high probability of stabilizing and rebounding in North America after the opening of the market. Pay attention to the resistance level of 88.7-90.3 and the support level of 86.7-85.5
VANTAGE:CL-OILLong
by Anthony-Ryan