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Crude Oil

USOIL ForecastTVC:USOIL Crude oil futures rose toward $76 per barrel on Friday, cutting the 5% plunge from the prior session that took prices to their lowest since July. CBOE:OVX ended on $40.43 nearly 7 percent lower than its previous session. Breakthrough 75.63 resistance. Still it is within acceptable deviation range, the short stance is yet too early to be declared over. API crude inventory scheduled next Tuesday, 11/21. The analysts are not expecting for any significant change in the inventory supply. While OPEC and the IEA both expecting supply tightness in the forth quarter, the downtrend rally won't seem to be make a comeback until any significant mood changing event introduces. During last PPI, while the market is forecasting a significant slowdown in overall business performance, the key is whether 2023 will be able to meet the expected average 82.6 mb/d, respectively.
TVC:USOILShort
by Kim_CLSPX
2
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:USOILShort
by ShahedZare
Crude oil will rise todayYesterday's crude oil bulls cut leek again, first broke the low point to dig the pit, and then the violent rebound does not look back, directly broke the key 71.80 near the strong pressure, directly rebounded fast 38 points, this range has no bear any chance to fight back, today's idea of crude oil will continue to rebound, the idea is bullish, this market we must admit mistakes, Be sure to quickly shift the following line of thinking, and not always fight it, today's crude oil focus on the bullish opportunities around 72.00 and 71.70. Crude oil is near -----71.80 buy Target 73.00-76.00
TVC:USOILLong
by the_Hand_of_God
USOIL Crude Oil WTI Price Prediction for Winter The potential for an increase in oil prices looms as supply disruptions in Libya unfold. Additionally, heightened tensions in the Middle East, fueled by another attack on a container ship in the Red Sea and explosions in Iran, contribute to the uncertainty. Shipping giants temporarily halted Red Sea shipments last month due to attacks by Houthi rebels, who were influenced by the conflict between Hamas and Israel. On a recent Wednesday, the Yemeni militant group, supported by Iran, claimed responsibility for targeting a container ship en route to Israel. Concurrently, OPEC announced its members' commitment to unity and cohesion within the organization, emphasizing their dedication to shared objectives. Adding to the complex landscape, last month saw Angola, a member of OPEC for 16 years, decide to exit the cartel due to disputes over quotas. In light of these developments, my forecast for oil prices is set at $80 by March 2024.
TVC:USOILLong
by TopgOptions
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:USOILShort
by ShahedZare
WTI H2 / RETRACEMENT FROM THE OB, SHORT TRADE OPPORTUNITY 📉🛢Hello Traders! As expected, we can see a retracement of the OIL H2 from the resistance level, and also, from the OB at the price of 74.900. I see this retracement as a good signal of bearish domination, representing a good opportunity to execute a short trade. Treaders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
BLACKBULL:WTIShort
by GoodTradeST
3
Disruption to the oil supply chain averted (at least for now)Following the initiation of Operation Prosperity Guardian in the Red Sea, major shipping companies like Maersk and Hapag-Lloyd began to reverse their recent decisions to halt transit through this waterway. That is positive news for the world as the region is estimated to account for about 12% of global trade, with 340 million metric tons of cargo and 8.2 million barrels of oil passing through daily. Nonetheless, as disruption to the oil supply chain seems to be averted, this news is likely less favorable for the oil price, which is currently trading near $75.50 per barrel. With that said, we have no reason to change our outlook for the next year, and our price target stays at $65 per barrel; however, in the short term, we acknowledge that USOIL may move higher (potentially somewhere in the range between $77 and $78) before reversing. We will update our thoughts with the emergence of new developments. Illustration 1.01 Illustration 1.01 shows the daily chart of USOIL. The yellow arrow indicates a bullish breakout above the upper bound of the downward-sloping channel, which is quite bullish (unless invalidated). Technical analysis Daily time frame = Slightly bullish Weekly time frame = Bearish (turning neutral) Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
2
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:USOILShort
by ShahedZare
Crude oil up tonight!Crude oil rose too much before, so it needs a technical pullback, the big trend we still insist on bullish! At present, there is a small top of the daily line signal, it has a technical retreat, will continue to rise after the retreat, the weekly line stabilization signal is very obvious, so the bulls have begun a big counterattack in the retreat is not a trend change but we once again layout multi-single opportunity! So today, oil prices should focus on the first support near 72.70
TVC:USOILLong
by the_Hand_of_God
1
WTI OIL: 1d Death Cross calls for selling but MA50 has to hold.WTI will complete a Death Cross pattern on the 1d time frame. This will be its second since September 02 2022. That pattern initiated a strong decline which was a bearish leg inside a Channel Down pattern. Oil is again trading inside a Channel Down since Sep 28 2023 and the Death Cross can be the sell call for the final leg to the 63.70 Support. We expect at least 65.00 but the 1d MA50 has to hold. On a different occassion, i.e. a candle closing over the 1d MA50, look for a buy to the 0.618 Fibonacci level at 84.50. That will be almost a +25% rise, which we've seen 4 times since the last 1d Death Cross. Follow, Like, Comment below!
TVC:USOIL
by YahooSignals