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Crude oil gets a chance to rise Crude oil targets resistance at $88. The important level after that is $90, which is a resistance level that the market needs to break. The prevailing sentiment suggests that it is only a matter of time before the market rises to these levels. Crude oil also found support from the 50-day moving average below, which acted as a stabilizing force. Additionally, the 200-day moving average provides a fundamental "bottom" for the market, which reinforces the idea of an upward bias. In addition, market sentiment due to the escalation of the conflict and the Iranian oil embargo have provided rising factors for crude oil. Crude oil resistance level focuses on 88, support level focuses on 86
VANTAGE:CL-OILLong
by Anthony-Ryan
Crude oil target 90 Market analysis In the last post, we talked about the US crude oil market maintaining the price of crude oil to a certain extent, but the impact of the conflict in Pakistan on the crude oil market completely covers other market conflicts, and crude oil is bound to rise. Technical analysis After crude oil rose to 88.3, the short side gradually took over the main direction. From a larger level, it can be observed that the oil price just encountered resistance at the upper edge of the flag relay and fell back. Crude oil is bullish given the ongoing conflict.
VANTAGE:CL-OILLong
by Anthony-Ryan
Bulls profit, market slowly rises The Israeli-Palestinian conflict supported gains in oil prices, but mail will slowly rise until there is no further conflict. Crude oil was blocked at the 21-day moving average. Secondly, the International Energy Agency (IEA) said last week that oil prices have fallen recently from their highs in late September, reflecting declining demand, especially in the United States. These market conditions have restrained the sharp rise in crude oil. However, conflicts in the Middle East will lead to a shortage in the crude oil market, which is also the biggest reason for the rise in crude oil. The overall bullish target for crude oil is whether it can break through the 89 and 91 resistance levels
VANTAGE:CL-OILLong
by Anthony-Ryan
Oil prices will rise to 100 The conflict may escalate further, and Iran warned Israel not to expand the situation, otherwise it will join the war. Once Iran joins the war, oil prices will skyrocket. Last week, due to the conflict, oil prices rose to close at 87.72. On Monday today, the opening momentum of oil prices has slowed down. On the one hand, it is due to some profit-taking. On the other hand, because the conflict and risk aversion fluctuations have been completed, the market is waiting for further factors to promote; Technically, the daily chart of oil prices rebounded sharply and closed positive last Friday, and today it is also running above the mid-track. The bearish signs continue to shrink and the bullish trend is getting stronger. The weekly chart has also returned to above the short-term moving average support. The current support levels for crude oil are 87.20 and 86.05. Resistance levels are 88.70 and 90.00.
VANTAGE:CL-OILLong
by Anthony-Ryan
Will oil prices break through 100? "A sharp escalation in geopolitical risks in the Middle East, which accounts for more than a third of global seaborne oil trade, is keeping markets on edge," the IEA said in its closely watched October oil market report. All this is as discussed in my previous post. The conflict caused the oil price to rise again. The continuation of the conflict will cause the oil price to break above 95 or even reach 100. However, we need to note that Canadian oil production will grow by about 10% in 2024, and the U.S.'s higher-than-expected inventories and rising interest rate expectations will hinder the rebound in oil prices. Combined with the overall market conditions and considering that the Middle East is a major crude oil trading region, oil prices are generally bullish.
VANTAGE:CL-OILLong
by Anthony-Ryan
Crude oil is poised to gain momentum Political tensions roiled global financial markets as the focus shifted to the Middle East. Oil prices have fluctuated sharply amid escalating risks, with worries that a war between Israel and Palestine could lead to supply disruptions easing, but market sentiment has been relatively cautious and investors have still refrained from aggressive selling as they watch further developments ahead. CBA energy analyst Vivek Dhar said that the disclosure of evidence of Iran's involvement will push up oil prices, and the conflict between Israel and Palestine increases the risk of crude oil prices rising to $100/barrel and above. Crude oil prices are bullish. The first target is 89, the second target is 93.
VANTAGE:CL-OILLong
by Anthony-Ryan
1
Crude oil ushered in a new opportunity for growth The latest exclusive report from the US "Wall Street Journal" claims that Saudi Arabia has told the White House that they are willing to increase oil production early next year if crude oil prices remain high. A new round of military conflict broke out between Israel and Palestine last weekend, causing international oil prices to soar more than 4% after opening. This week, it gapped higher and opened higher, breaking the weak pattern and regaining its position above the middle track. It is currently undergoing a rebound correction, and the space is slightly larger. In the short term, there is a high probability that oil prices will stabilize and then recover from the sharp drop during the holidays. Pay attention to the next changes in geopolitical factors and pay attention to the rhythm. During the day, focus on the first-line support of 84.4 at the bottom and the first-line resistance of 87.24 at the top. Above 84.4 is bullish, the target is 87.3-88.4. Below 84.4 is bearish, the target is 82.8-81.6. The RSI technical indicator is moving upward.
VANTAGE:CL-OILLong
by Anthony-Ryan
Market tension is greater than the impact of the dollar Expectations of tighter crude oil supply and an uncertain economic outlook have caused demand concerns. At the same time, crude oil continues to be hit by the double blow of the appreciation of the US dollar and expectations of interest rate hikes, and the impact of a rapid tightening of supply is offset by market investors' low risk appetite for higher interest rates in the long term. Oil prices in Asia rose to 91.5. The subsequent trend will rebound and then rise slowly. The overall market is bullish.
VANTAGE:CL-OILLong
by Anthony-Ryan
Crude oil in short supply The supply side of the global oil market continues to reduce production, and oil prices will continue to rise in the short term. Russia's fuel export ban announced last week has raised supply concerns and demand woes from future interest rate hikes. In the current context of the crude oil market, what needs attention is that once the Federal Reserve misjudges the U.S. economy, superimposes a rebound in inflation, and excessively raises interest rates, it may suppress crude oil prices. (The strength of the US dollar index has suppressed the prices of gold and crude oil) The overall trend of crude oil was very weak yesterday. After a slow rise during the day, it did not continue, but the US market fell sharply. The RSI technical indicator is bullish. Trading in the 89.5-91.5 range.
VANTAGE:CL-OILLong
by Anthony-Ryan
WTI trade analysis Through the analysis of the hourly chart of crude oil, we know that the last trading day first rose, then fell and then rose again, forming a narrow concussion trend. Since crude oil rose from highs and fell back, it has been in the midst of a concussive adjustment. Last Friday, it was said that an adjustment is imminent. Once the heavy volume breaks through and stands firm at the 91.00 line, it will continue to fluctuate upward. In the early stage, the main bull funds intervened in the weak area at a high level and the market fluctuated all the way down. Currently, the main bull funds continue to flow in and there are signs of strength, indicating that the market is more likely to rise further. The short-term market continues to fluctuate and break through upwards based on the moving average system. In terms of operation, we continue to go high, low and long, focusing on going long on dips.
BLACKBULL:WTILong
by Jerome-Leon
Crude oil fluctuates at high levels The supply side of the global oil market continues to reduce production, and oil prices continue to rise in the short term. A ban on fuel exports announced in Russia last week raised supply concerns and demand woes from future interest rate hikes. In the current context of the crude oil market, we need to pay attention to the fact that once the Federal Reserve misjudges the U.S. economy, superimposes a rebound in inflation, and excessively raises interest rates, it may suppress crude oil prices. The price of crude oil first rose last week and then adjusted to 90.55. It has closed positive for three consecutive weeks, and the long-term upward trend of crude oil is obvious. In the short term, crude oil is bullish when it is above 90.0 and bearish when it is below 90. The RSI technical indicator is bullish. The main transactions are range trading.
VANTAGE:CL-OILLong
by Anthony-Ryan
OIL GO LONG Crude oil reached the 88 point three times yesterday and then fell back to today's opening point of 87.27. But support continues to rise. In my post yesterday, I talked about how crude oil will continue to try to break through 88 and then drop to range trading. Everything is as per my analysis. We have mentioned too many times regarding the macro data of crude oil production reduction, and currently we are waiting for the target of 90. A rebound zone will then appear. Thank you for your comments and likes.
VANTAGE:CL-OILLong
by Anthony-Ryan
Target 90 Crude oil prices rose to a nine-month high after Saudi Arabia and Russia extended notices of voluntary supply reductions until the end of the year. After hitting a high of 88, crude oil fell into a high and volatile situation. It has tested the suppression of the 88 line three times. With the high point clearly suppressed, the bulls encountered resistance when rising, while the bears had strong support below 85.6. It is only a matter of time before crude oil breaks through 88. Bearish in the short term, bullish in the long term.
VANTAGE:CL-OILLong
by Anthony-Ryan
CL OIL HEAD AND SHOULDER BEARISH SETUPHello traders it seems like Oil may be taking a bearish turn here are our bearish clues : - Break in market structure ( Failed to create a higher high , which indicates that the trend may be reversing) . - Bearish RSI divergence (Higher Highs on price but lower highs in RSI indicates that buyers are loosing strenght). - Classic Reversal pattern Head And shoulder in formation Confirmation : Neckline Break + Retest Keep in mind that this week is very action packed so be sure to check the fundamentals before entering. this is my humble opinion not financial advice
TVC:USOILShort
by xAB777
Crude oil production cuts postponed to December Mid-term trend of crude oil: After the correction in August, oil prices still did not stop the rise in oil prices. Saudi Arabia and Russia announced crude oil production cuts in July 2023, originally scheduled for a one-month period, and the latter two extended the additional production cuts twice to the end of September, and this time, another extension by the end of December exceeded market expectations . The prospect of the U.S. economy avoiding a deep recession helped boost oil demand and prices. According to the small cycle chart of crude oil, it is in the rising stage. Crude oil is currently running above the key moving average EMA144. It is expected that this moving average will continue to support oil prices and is more likely to continue to be bullish.
TVC:USOILLong
by Anthony-Ryan
1
USOIL BULLISH hello big trader boys and big trader girls , this is my first idea on tradingview after doing analysis on USOIL on the Daily T.F . USOIL looks bullish to me we have a double bottom with a broken neckline and managed to break a really strong trendline i think that it will be bullish and we will see usoil on the 102-103 levels soon i would wait for a neckline retest before opening a trade . this is just my idea feel free to share your view on it on the comment section. make sure to follow and like for more ideas ;) goodluck traders lets make that money
TVC:USOILLong
by xAB777
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