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Crude Oil

Crude Oil Short OpportunityI posted a lot about Crude Oil on my Website and also on YT. The first short was nice success. Now we get the chance to do it again "Sam" §8-) This current test of the L-MLH of the white Fork was brutal. The squeeze is similar to the one of the 23rd of September. Just a little smaller, but more vicious. As for a Stop, I think it needs top be at least above P2. This gives us a Risk to Reward > 3, if price can tank down to P3, at the L-MLH of the red Pitchfork. As always, play it small in these vertical markets. Don't try to be a Hero. Just protect your Capital. All the best Tr8dingN3rds §8-)
NYMEX:MCL1!Short
by Tr8dingN3rd
CRUDE OIL (WTI) Detailed Technical Outlook 🛢 I received a lot of questions about WTI Crude Oil. Analyzing a weekly time frame, we can spot that the market is currently approaching a significant supply zone. Even though we see a strong bullish rally since the beginning of summer, I will anticipate a further growth only after a bullish violation of that entire area: 92.5 - 97.8. Alternatively, analyzing a daily time frame, we can identify a recent retracement from the underlined red area and a strong daily support that was nicely respected. At the moment, I also see a completed cup & handle pattern there. A bearish breakout of its neckline - daily candle close below 87.5 will be your bearish confirmation. I am monitoring oil closely and if I see a good trading setup, I will definitely share that with you. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
6
WTI CRUDE OIL: Long term target hit. Reversal to 1D MA50 imminenAfter WTI Crude Oil hit our long term target it managed to close a 1D candle under the 4H MA50 and on prior displays inside the three month Channel Up, that was a sell signal. The 1D timeframe has been normalized from the previous overbought technical state (RSI = 67.378, MACD = 2.060, ADX = 37.892), the 1D MACD is past a Bearish Cross, which makes a complete sell opportunity. We are short, targeting the bottom of the Channel Up and potentially the 1D MA50 as well (TP = 85.00). We are on an early long trade, targeting the course of the 4H MA50 (TP = 1.2275), even though a Channel Down top extension can even reach as high as 1.2425. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
6
NIFTY - M.O.A.B Vs "Optimus"MOAB, Mother of All bubble is the analogy lots of social media posts. Some even calling for that to unfold in the month of October itself. Talk of not 100 but 150 dollars doing the rounds. Bonds Down (yields up), Credit Ratings coming down, Crude prices hit, liquidity is squeezing, USD up, Equities wilt, Signs are omnivorous. US economy continues to print more than expected growth, China returning, Japan inflation still manageable. Higher Crude prices at the current prices are not going to hurt, unless they move past the 110 mark to start. Every aspect of the base effect has increased. Despite all the known bearish information, one has to ask the basic question then what is that the market expecting it to unfold for the MOAB. If despite all this information markets are not tanking, then this is the best bull market of all times when seen in retrospective. Let that be resolved by the markets than by us. Another interesting information is the unveiling of OPTIMUS, the new ROBOT from Elan Musk. With horizontal gravitation, built completely by the AI not humans, ability to identify the colour, one more step to positivity. Fear Greed are the two forces, but the bigger force is ignorance that drives the markets either up, down or neutral. Today that ignorance can be cause and effect of market inability to leap either way. It is almost six continuous days of down move. Yesterday just flat, but then sold off from the highs. Cues are not green. In the current frame held at the MBB, next is the long trendline drawn from the recent base (a place of failure of H n S pattern. The support line drawn from the previous top points closer to 19K. The shorter horizontal line which is around the 19580 is the worry as it is not far off. Big frames 19200-20200 dictates for consolidation, while shorter frames push towards 19500-19800 range. For the day below 19730 19580 is one stab. Trade small and profit taking remains the sane word in any place, size and value. The Congestion Index is clearly showing slowing down, but still positive. Struggling to keep the upside, cues overseas also are in similar or much more bearish tone. Stay cautioned by Risk than by Reward.
NSE:NIFTY
by sreebhashyam
XTIUSD( US OIL )LONG term Trade AnalysisHello Traders In This Chart XTIUSD HOURLY Forex Forecast By Forex Planet today XNGUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
FXOPEN:XTIUSDLong
by ForexPlanet20
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 CRUDE OIL Why it has most likely topped.WTI Crude Oil got rejected a little before it hit Resistance (1) at 93.80, which is a 11 month long level. The trading pattern since the mid April shows a good deal of correlation with October 20th 2021 - March 7th 2022. That was the peak of the Ukraine-Russia War. In order to get such an immense price spike, a heavy fundamental catalyst needs to blast out, something that we don't currently have on the horizon. As a result it is highly likely that Oil has topped and will turn bearish/sideways for the rest of the year. Trading Plan: 1. Sell every rise below Resistance (1). Targets: 1. The MA50 (1d) until eventually the MA200 (1d) gets hit around end of November - start of December. Tips: 1. The RSI (1d) also shows high symmetry between the fractals. It started on the 30.00 oversold mark and peaked outside the Rectangle around the overbought 80.00 mark. Please like, follow and comment!!
TVC:USOILShort
by TradingBrokersView
1
CL - Crude Oil Bold CallOh my..I think something big is on the way. Let's first look at what we see on the chart: It's a long-term chart, where each candlestick represents 3 months. Why did I take 3 months? Because I wanted to see the big picture. Look at the red frame. This is a daily chart, and with all the candles going up and down like a rollercoaster, it's messy and will keep you up all night. The yellow chart is the same, but here I have only taken the swings and hidden the bars. And that's real peace of mind. It's clean and shows you where the real pivots are. Let's go to the main chart. The pitchfork goes back to the low we had in the 80s. This is the anchor for the A point. Then the top for B and the negative for C. Do you see how the middle line catches the resistance and the support? What else? It's clean too. Going up in the time frame hides the noise. From now on, the last 3 candles also have support at the centre line. And if I apply Human-AI-Pattern-Recognition (...what a word ;-), then I see a potential huge run-up towards the U-MLH (Upper-Medianline-Parallel). Another fact that supports this thesis is that the USD has the potential to fall (see DXY analysis). And of course there will be other economic influences that will throw "oil" into the fire... kinda weird §8-) However, as we can never have the whole cake and eat it too quickly without the cook cutting off our fingers, we have to wait for the first break of the last swing high, which can be clearly seen in the yellow frame. Or we can start building a position now, taking on more risk but being rewarded with huge upside potential over the next few years. However, my position with this analysis will be very long term. How will I play it? I don't know yet, but I'm considering building a CL monster with Black Magic Options Voodoo §8-) Hope this helps and have a relaxing weekend.
NYMEX:CL1!Long
by Tr8dingN3rd
1
WTI CRUDE OIL Channel Up top and 11month Resistance rejection.WTI Crude Oil / USOIL has completed 2 red 1day candles for the first time since August 23rd. This is after the formation of a new Higher High on the three month Channel Up pattern. In the meantime that High was very close to the 93.80 Resistance A level, which was a Double Top on November 7th 2022. With the 1day MACD about to close a Sell Cross, we couldn't have a steadier sell combination than that. Sell and target 85.00 (bottom of Channel Up and expected contact with the 1day MA50). Follow us, like the idea and leave a comment below!!
TVC:USOILShort
by TheCryptagon
6
WTI Oil Prices Face Selling Pressure as Fed's Hawkish Stance...WTI Oil Prices Face Selling Pressure as Fed's Hawkish Stance Dominates Western Texas Intermediate (WTI) crude oil prices are grappling with selling pressure, hovering around the $88.80 mark. The Federal Reserve's recent meeting and its hawkish stance have cast a shadow over oil prices, complicating the outlook for the energy market. Here are the key factors influencing WTI oil prices: 1. Fed's Influence on Oil Prices: Following the Federal Reserve's recent meeting, WTI oil prices experienced a continuation of selling pressure. The Fed opted to keep interest rates unchanged and issued hawkish comments. Fed Chairman Jerome Powell reiterated the central bank's commitment to achieving a 2% inflation target and expressed readiness to raise rates if deemed necessary. The prospect of higher interest rates in the US has a direct impact on oil prices. Elevated interest rates can raise borrowing costs, potentially slowing economic growth and reducing oil demand. 2. Saudi Arabia's Stance on Oil Production: Saudi Crown Prince Mohammed bin Salman clarified that OPEC's decision to reduce oil production was primarily motivated by a desire for market stability and not aimed at supporting Russia's actions in Ukraine. In recent weeks, both Saudi Arabia and Russia, the world's top two oil exporters, announced voluntary production cuts. These measures have played a role in supporting WTI prices, with both countries committing to sustaining reduced oil output until the end of 2023. Saudi Arabia is set to limit its oil production to approximately 1.3 million barrels per day through the end of 2023. 3. Crude Oil Inventory Reports: Crude oil inventory reports have also influenced market sentiment. The American Petroleum Institute (API) reported a significant decline of nearly 5.25 million barrels in US crude oil inventories for the week ending September 15. This contrasted with the previous reading, which showed a rise of 1.174 million barrels. Market expectations had been leaning towards a 2.7 million-barrel decline. Additionally, the Energy Information Administration (EIA) reported a decrease of 2.135 million barrels in crude oil stockpiles during the same period, compared to a previous increase of 3.954 million barrels. The market had anticipated a drawdown of 2.2 million barrels. 4. Upcoming Economic Data Impact: Looking ahead, oil traders are closely monitoring several economic data releases that could significantly influence WTI prices. These include the US weekly Jobless Claims, the Philly Fed Manufacturing Index, and Existing Home Sales, all scheduled for release later on Thursday. Furthermore, the preliminary US S&P Global PMI for September is expected to be released on Friday. These events will be of particular interest to traders as they could impact the USD-denominated WTI price. In conclusion, WTI oil prices are currently navigating a complex landscape, with the Federal Reserve's hawkish stance and global oil production dynamics playing key roles. The energy market will closely follow economic data releases for insights into the future direction of oil prices, offering trading opportunities for investors.
NYMEX:CL1!Long
by FOREXN1
12
#WTI, #USOIL, #CRUDEOIL, #CL is in complex correction cycle----------OIL TO CORRECT TO THE DOWNSIDE-------- Trading is not like fairy tail Jack and the beanstalk. Price does not move like a straight line. At least most of the time it doesn't. Instead it moves wave by wave with shorter and longer corrections until it finally finds a point from where it cannot proceed any further and reversal happens. In case of US WTI oil we have been through a nice long run recently. Now I expect a correction where short term short trades can be applied although the major trend is up. So this counter-trend trade should be implemented by real care. I can be wrong of course. This is not a financial advise. Do your own research and analysis.
TVC:USOILShort
by Szuperpotyka
1
$USO Double Top Since August 23, AMEX:USO has been on a consistent upward trajectory, forming a Double Top pattern. Given this technical signal, it may be advisable to either sell call options or lock in some gains. In technical analysis within stock trading, a Double Top is a bearish reversal pattern that signifies a potential change in the trend from an uptick to a downtick. The pattern is characterized by the formation of two consecutive peaks that are roughly equal in price, separated by a trough. The pattern is confirmed when the price falls below a support level, typically represented by the lowest point of the trough between the two peaks. In a Double Top pattern, the first top is usually created with strong buying pressure that pushes the asset to a new high, but eventually, the buying momentum fades, leading to a moderate decline, forming the trough. The asset then rises again, driven by optimism, but fails to surpass the first peak, forming the second top. At this point, the inability to break the previous high is a sign of waning bullish momentum, suggesting that a reversal may be imminent. Traders often look for a decisive break below the support level as a confirmation to enter short positions, with the expectation that the asset will continue to decline.
AMEX:USO
by AlgoTradeAlert