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Crude Oil

Today and Weekly Outlook for Nasdaq, Crude Oil, and Gold FuturesNasdaq Analysis Yesterday, Nasdaq closed higher on the daily chart. It formed a double bottom near the 21,000 level and rebounded, entering a consolidation range near the moving averages. The MACD remains above the zero line, and the Signal line is also above the zero line, suggesting the potential for another upward attempt this week. However, due to the significant gap between the MACD and Signal lines, there is a high possibility of a failed buy attempt followed by a downward move. If the MACD shifts downward, a break below the 60-day moving average could occur. On the weekly chart, no sell signal has emerged yet, but the MACD and Signal lines are closely aligned. This week may determine whether the weekly chart enters a third wave of buying or declines into a death cross. The 240-minute chart currently shows a buy signal, indicating that the market may focus on buying at the start of the week, with a potential shift to selling later in the week as the MACD leans bearish and a third wave of selling emerges on the 240-minute chart. It is advisable to consider support and resistance levels based on daily moving averages and respond to key levels in the longer-term range. Crude Oil Analysis Yesterday, crude oil continued its strong upward trend and closed higher. The price has posted five consecutive bullish candles, with the short-term peak near $74 serving as a resistance zone. A pullback to the 5-day moving average should not be ruled out. On the weekly chart, crude oil formed a large bullish candle, breaking through major resistance levels like the 60-week and 120-week moving averages in one move. Buying near the 72.80 level, which corresponds to the 3-week moving average, is favorable during pullbacks, and maintaining support at the midpoint of the weekly bullish candle will be crucial. The 240-minute chart also reflects strong buying momentum. Above $74, a short-term sell with stop-loss protection is advisable, while aggressive buying during pullbacks below the 5-day moving average on the daily chart is favorable. This is a typical pattern transitioning from bearish alignment to bullish alignment, so caution is advised when considering selling. Gold Analysis Gold closed lower yesterday with a bearish candle. Combining Thursday and Friday’s candlesticks, a doji pattern emerges. If gold fails to break above the 60-day moving average on the daily chart and tilts downward, the key support level at 2600 will be critical. On the weekly chart, the sell signal remains intact, with strong resistance around the 10-week and 20-week moving averages. If gold cannot strongly break through this resistance, a pullback should be anticipated. Although the daily chart confirms a buy signal, the movement lacks significant momentum, leaving room for a swift erasure of the buy signal and a shift to selling this week. On the 240-minute chart, gold is facing resistance at key support/resistance levels. While the pattern can be viewed as a range-bound box, a sell signal on the 240-minute chart could lead to strong selling momentum following a false breakout. Adopting a range-bound strategy with a focus on selling is advantageous. This Week's Outlook This week, major events such as CES 2025, the release of FOMC minutes, and the Nonfarm Payroll report are on the agenda. Additionally, next week’s CPI is within view. Be cautious around key events and data release times to manage risks effectively. Wishing you a successful trading week!
CME_MINI:NQ1!
by Futureguard
1
Crude Opportunity Part 1Previously, heads up about BTCUSD and it was pretty spot-on. Oddly enough, CRUDE OIL CL1! is next. For the first part, here we look at the marked time lines, and the effect after these time lines. 5 of the last 6 times, saw a bullish rally. Of these, 4 of the 5 occasions had the Rate of VolDiv (custom indicator) trend changed for an uptick. In essence, the current weekly Crude Oil Futures CL1! show a similar set up ready for a spike and rally for Crude Oil. No fundamental reason (yet) but the technicals are projecting a billish scenario based on the technical set up. Part 2 will look more in-depth and zoom into the recent time frame... Stay tuned if you are keen...
NYMEX:CL1!Long
by Auguraltrader
Possible strong trend change in oilOil is at a critical chart crossroads with the Light Crude Oil contract flirting with an upward break of the strong long-term downtrend line “K” that has been passing through the $73 area in the last two sessions. On Friday morning when the article was written, the contract was trading at $72.90. A possible now confirmed upward break of this line will make it difficult for the contract’s sellers as it will have the power to open the way to $76. Above that, the price of $80 per barrel will “flash”. On the other hand, however, the apparent inability of oil to pass above $73 and the “K” will mark a third consecutive exhaustion peak, pushing the contract back below $69. It is of course best not to attempt to push oil prices above $76 because it will begin to "undo" the positive scenario of further weakening inflation.
NYMEX:CL1!Long
by manthos
Weekly Market Forecast Jan 6, 2025This is an outlook for the week of Jan 6-10th. In this video, we will analyze the following FX markets: ES \ S&P 500 NQ | NASDAQ 100 YM | Dow Jones 30 GC |Gold SiI | Silver PL | Platinum HG | Copper The indices look set to move higher, with the possible exception of the DOW. The metals will underperform against a strong USD, which remains so in the near term. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
COMEX:HG1!
by RT_Money
2
Crude Oil (WTI) Bullish Breakout – Eyes on $78.47!🚀 Crude Oil (WTI) Bullish Breakout – Eyes on $78.47! 🚀 📊 Trade Setup: Entry Price: $73.12 Take Profit 1: $73.99 Take Profit 2: $76.20 Take Profit 3: $78.47 Stop Loss: $71.21 (below key support zone) 📈 Analysis: After months of trading in a range, WTI Crude Oil has broken above the upper boundary of the channel , signaling a bullish breakout. This breakout is supported by: 1️⃣ China's Economic Optimism: Growth pledges and potential stimulus are boosting demand expectations. 2️⃣ Technical Momentum: Key resistance at $71.50 and $74 has been breached, opening the path toward higher targets. 3️⃣ Tight Weekly Chart Range: A big move was anticipated, and the bulls delivered! 🎯 Targets: With momentum on our side, we’re targeting: $73.99: Quick resistance retest. $76.20: Alignment with prior highs. $78.47: Major resistance and breakout zone. 🔹 Risk Management: Stop loss at $71.21, well below the key support zone, ensures controlled risk in case of reversal. ⚡ Are you riding the breakout, or watching from the sidelines? Let me know your thoughts below! ⚡
NYMEX:CL1!Long
by ValchevFinance
Will Iran's Nuclear Ambitions Redefine Global Energy Markets?In a world where geopolitical tensions and energy markets dance an intricate waltz, the latest developments surrounding Iran's nuclear program have emerged as a pivotal factor in global oil dynamics. The Biden administration's deliberation of military options against Iranian atomic facilities has introduced a new variable into the complex equation of international energy markets, forcing investors and analysts to reassess their traditional market models. The strategic significance of the Middle East's oil infrastructure, particularly the Strait of Hormuz, hangs in delicate balance as diplomatic chess moves unfold. With approximately one-fifth of the world's oil supply flowing through this crucial chokepoint, the stakes extend far beyond regional politics, touching every corner of the global economy. Market participants have begun incorporating these heightened risks into their pricing models, reflecting a new reality where geopolitical considerations carry as much weight as traditional supply and demand metrics. The energy sector stands at a crossroads where strategic petroleum reserves, investment strategies, and risk management protocols face unprecedented challenges. Portfolio managers and energy traders must navigate this complex landscape while balancing short-term volatility against long-term strategic positioning. As the situation continues to evolve, the global oil market serves as a mirror reflecting the broader implications of international security dynamics, challenging conventional wisdom about energy market fundamentals and forcing a reevaluation of traditional risk assessment models.
FX_IDC:USDWTILong
by UDIS_View
CL - Crude Oil confirmation and unwritten potentialHi guys, we are following up with probably one of our favourite assets to participate in. You guessed it right it's CL. Currently the Crude Oil is sitting in a very specific range , which has been traded since late August , until the end of October where we saw a big spike and got out of boundaries due to the escalation in Iran and Israel, of which after the cooling off we got back into the range of 73.00 as a strong resistance line , and 67.00 as a strong support. This range has made a lot of traders stay away from CL, but I do believe that there is potential to be caught. Current analysis and entry : Entry today at a level of 68.90 , with two targets of take profit : Target 1: 71.52 Target 2: 72.92 Now this is the bold move if you don't want to miss out on the current opportunity and your Risk Tolerance is on the higher end. If you want to be more protective and your Risk Tolerance is on the lower side, you can get a Pending Order at the level of 66.61 , and then enter 3 follow up targets Target 1: 68.50 Target 2: 71.05 Target 3: 72.45 P.S. My current opinion is to go with a current entry because the missing out of opportunity is too high ,hence we are seeing more tensions in Israel&Gaza conflict, additionally the tightening of the situation in Ukraine&Russia adds more Fundamental Value, towards a swing on an upside of the Crude Oil. Do let me know in the comments below or in my community what is your thought process and opinion about our favourite Black Gold! Happy Trading!
TVC:USOILLong
by DG55Capital
Crude Oil January Futures: Bullish Option Trade SetupBuilding upon my prior analysis, where I held a bearish outlook on Crude Oil January Futures , I now present a contrasting bullish perspective. While I had previously emphasized the confidentiality of the stop-loss level for short trades, this setup focuses on a call option strategy aligned with my expectations of upward momentum in the market. For this trade, I have chosen the 6000 strike call option . The optimal entry point for this position is below ₹234.20 , providing a favorable risk-reward ratio. As of this writing, the current market quote (best offer) stands at ₹186.00 , offering an attractive entry opportunity for bullish traders. My target for this position is set at ₹468.40 , which I anticipate achieving by the contract's expiry on 15th January 2025. Key Notes: This trade is based on my personal analysis and market perspective. It is important to emphasize that this is not a trade recommendation for the public. The stop-loss level remains confidential and forms an integral part of my risk management approach. Disclaimer: Trading in options and futures involves significant risk and may not be suitable for all investors. This analysis is solely my personal view and is shared for informational purposes. Perform your own due diligence or consult with a financial advisor before making any trading decisions.
MCX:CRUDEOIL1!Long
by IndexAce
Trade Idea 2024-12-30 and Review of 2024As the year comes to a close, we expect it to be a quiet week. If you haven’t already, now is an excellent time to set your trading goals for the coming year. Where will your focus be? Which markets will you trade actively? What is your risk management plan? It is also a good time to complete a review for 2024 if you have not already! Keeping a trading journal is essential for tracking progress and learning from your mistakes. Active trading, like other high-performance activities, requires resilience, focus, and a winning mindset, but even with these attributes, losses are a natural part of the process. Always trade with a clear plan, manage your risks effectively, and never trade with more capital than you can afford to lose. As we wrap up the year, we are sharing a couple of the most popular charts we reviewed in 2024 and reflecting on the following questions we asked ourselves: What has the market done? What is it trying to do? How good of a job is it doing? What is likely to happen from here? Volume profile provides key insights into market auction and interaction of buyers and sellers. This is how we approach markets although there are many other ways of doing so. Big Picture ES Futures: Key Levels: 2024 mid point: 5574.50 2024 VPOC: 5441.75 2024 Value Area High: 5844.25 2024 High: 6184.50 Fib Extensions Target 1: 6388 Fib Extension Target 2: 6514.25 Fib Extension Target 3: 6590.75 Fib Extension Target 4: 6695.50 Big Picture BTC Futures: Key Levels: 2024 High: 108,960 2024 Mid point: 77,865 2024 VPOC: 69,710 2024 Value Area High: 79,525 Key Support for Bulls: 78,000 - 76,000 Big Picture CL Futures: Key Levels: Composite Value Area High: 79.65 2024 Value Area High: 74.90 2024 Mid point: 72.14 2024 VPOC: 69.70 2024 Value Area Low: 66.70 Composite Value Area Low: 63.55 We await the start of the new year to further gauge short term price action, volume and ranges for the upcoming year! Happy trading from EdgeClear! We wish you all a great 2025! Disclaimer: The views expressed are opinions and should not be interpreted as financial advice. Derivatives involve a substantial risk of loss and are not suitable for all investors.
CME_MINI:ES1!
by EdgeClear
Trading Plan: WTI Crude OilBased on my proprietary indicators, I maintain a bearish view on WTI Crude Oil. I am anticipating a downside target of ₹5800 (target open until 15th January 2025). Current Position: Holding short positions in MCX Crude Oil January 2025 expiry futures from ₹6025 levels. Intend to add more shorts if prices move to higher levels. Risk Management: Stop-loss and risk parameters are carefully planned but not disclosed here for strategic reasons. Position sizing is aligned with my overall risk appetite and trading capital. Disclaimer: This trading plan represents my personal views and trading decisions and is shared for informational purposes only. Trading in crude oil futures involves significant risk and may not be suitable for all investors. Readers should not consider this as financial advice and must conduct their own research or consult with a certified financial advisor before making any trading or investment decisions. Past performance of proprietary indicators is not indicative of future results.
MCX:CRUDEOIL1!Short
by IndexAce
What Is the Difference Between Brent and WTI Crude OilWhat Is the Difference Between Brent and WTI Crude Oil for Traders? Brent Crude and WTI are two of the most important oil benchmarks in the world, influencing global markets and trading strategies. While both represent high-quality crude, they differ in origin, composition, pricing, and market dynamics. This article explores questions like “What is Brent Crude?”, “What is WTI Crude?”, and “What is the difference between Brent and crude oil from West Texas?”, helping traders navigate their unique characteristics. Brent Oil vs Crude Oil from West Texas Brent Crude and West Texas Intermediate (WTI) are two primary benchmarks in the global oil market, each representing distinct qualities and origins. What Is Brent Crude Oil? Brent Crude originates from the North Sea, encompassing oil from fields between the United Kingdom and Norway, like Brent, Forties, Oseberg, Ekofisk, and Troll. This region's offshore production benefits from direct access to sea routes, facilitating efficient transportation to international markets. The North Sea's strategic location allows Brent Crude to serve as a global pricing benchmark and influence oil prices worldwide. This blend is slightly heavier and contains more sulphur compared to WTI. Despite this, Brent Crude is extensively traded and serves as a pricing reference for about two-thirds of the world's oil contracts, primarily on the Intercontinental Exchange (ICE). What Is WTI Crude Oil? West Texas Intermediate is primarily sourced from US oil fields in Texas, North Dakota, and Louisiana. The landlocked nature of these production sites means that WTI relies heavily on an extensive network of pipelines and storage facilities for distribution. A key hub for WTI is Cushing, Oklahoma, which serves as a central point for oil storage and pricing. This infrastructure supports WTI's role as a benchmark for US oil prices. Known for its lightness and low sulphur content, West Texas Crude is ideal for refining into gasoline and other high-demand products. WTI serves as a major benchmark for oil prices in the United States and is the underlying commodity for the New York Mercantile Exchange's (NYMEX) oil futures contract. Brent and WTI Crude Oil CFDs Most retail traders interact with Brent and WTI through Contracts for Difference (CFDs) instead of futures contracts. CFDs enable traders to speculate on price fluctuations without having to own the underlying physical oil. Instead, they open buy and sell positions and take advantage of the difference in the price from the time the contract is opened to when it’s closed. This makes CFDs a popular choice for retail traders looking to make the most of short-term price fluctuations in oil without the complexities of physical ownership, storage, or delivery. CFDs also offer leverage, allowing traders to control larger positions with smaller capital. You can trade Brent and WTI crude oil at FXOpen with tight spreads and low commissions! Check the recent oil prices at the TickTrader trading platform. Quality and Composition Differences Brent Crude is classified as a light, sweet crude oil. It has an API gravity of approximately 38 degrees, indicating a relatively low density. Its sulphur content is about 0.37%, making it less sweet compared to WTI. Brent's composition is well-suited for refining into diesel fuel and gasoline, which are in high demand globally. But what is WTI like? Known for its superior quality, WTI boasts an API gravity of around 39.6 degrees, making it lighter than Brent. Its sulphur content is approximately 0.24%, classifying it as a sweeter crude. This lower sulphur content simplifies the refining process, allowing for the production of higher yields of gasoline and other high-value products. These differences in API gravity and sulphur content are significant for refiners. Lighter, sweeter crudes like WTI are generally more desirable because they require less processing to meet environmental standards and produce a higher proportion of valuable end products. However, the choice between Brent and WTI can also depend on regional availability, refinery configurations, and specific product demand. Trading Volumes and Market Liquidity Brent Crude and WTI both see significant trading volumes, but they differ in terms of their market liquidity and global reach. As mentioned above, Brent Crude is widely traded on international markets, and it serves as the pricing benchmark for roughly two-thirds of the world's oil contracts. Its broad appeal comes from being a global benchmark, which makes it highly liquid in global exchanges like ICE Futures Europe. This high liquidity means traders can buy and sell contracts with relative ease, often with tighter spreads. As a result, it’s popular among traders looking for high-volume, internationally-influenced oil exposure. On the other hand, WTI is primarily traded in the US through exchanges like the NYMEX (New York Mercantile Exchange). While still highly liquid, WTI's trading volumes tend to be more concentrated within the US market. Despite this, it remains a crucial benchmark, especially for traders focusing on the US oil industry. Its close ties to the domestic market mean liquidity can be slightly more affected by US-specific factors. Pricing Influences and Differences Between Brent and WTI The geographic focus and market influence distinguish WTI Crude vs Brent oil. Brent is a globally traded benchmark, making it more reactive to international forces, while WTI’s market is more US-centric, with pricing heavily influenced by domestic factors and energy dynamics. Therefore, Brent Crude and WTI often trade at different prices, with Brent Crude typically priced higher. This price difference, known as the Brent-WTI spread, reflects the varying dynamics between global and US markets. Traders keep a close eye on this spread, as it signals the relative strength of international versus US oil markets. Price Influences for Brent Crude - Geopolitical events: Brent is highly sensitive to tensions or conflicts in major oil-producing regions like the Middle East and North Africa. Any disruptions to supply routes or production in these areas can cause its prices to spike. - OPEC+ decisions: Since many OPEC+ members produce oil that influences Brent’s pricing, their decisions on production cuts or increases have a direct impact on its price. A reduction in global output typically raises prices. - Global shipping and transport logistics: Brent is traded internationally, so shipping costs, potential blockages in transport routes (e.g., the Strait of Hormuz), and other logistics play a role in price movements. - Global energy demand: Trends in global demand, especially from key regions like Europe and Asia, affect pricing. For instance, economic growth in these regions tends to push prices higher. Price Influences for WTI - US shale oil production: WTI is highly responsive to the levels of US shale oil output. When production surges, oversupply can put downward pressure on prices. - US oil inventory levels: Key storage hubs like Cushing, Oklahoma, are crucial for pricing. Rising inventory levels signal oversupply, which typically lowers prices, while declining inventories may indicate higher demand and push prices up. - Pipeline and transportation infrastructure: Bottlenecks in US oil pipelines or delays in transportation can influence WTI pricing. For instance, limited capacity in pipelines can restrict oil flow to refineries, leading to fluctuations in prices. - Domestic energy policies: Government regulations, taxes, or subsidies affecting US energy production can impact prices, with changes in drilling activity or environmental policies influencing supply levels. Which Oil Should Traders Choose? When deciding between WTI vs Brent, traders consider their market focus, trading strategy, and the factors driving each benchmark. Here’s an overview of what might help you choose: 1. Geopolitical Focus - Brent Crude is more sensitive to global geopolitical events, making it a strong choice for traders who focus on international markets. If you analyse global tensions, OPEC+ decisions, or international energy policies, Brent is likely more relevant. - WTI is less influenced by global events and more driven by US domestic factors. Traders focused on US politics, infrastructure, and energy policies may find WTI a better fit. 2. Market Liquidity and Trading Volume - Brent Crude is widely traded across global exchanges, giving it strong liquidity. It’s ideal for traders who prefer access to international markets and global trading volumes. Its liquidity also makes it attractive for those trading larger volumes or seeking tighter spreads. - WTI has high liquidity as well, but it’s more concentrated in US markets. This makes it better suited for traders with a specific interest in US oil dynamics. 3. Price Volatility - Brent Crude tends to react more to geopolitical shocks, meaning it can experience more volatility from global crises. Traders looking for opportunities driven by international supply disruptions or geopolitical risks might prefer Brent. - WTI is typically influenced by domestic production and inventory levels, which can result in different volatility patterns. US-focused traders or those tracking domestic shale oil production often gravitate toward WTI for its more region-specific volatility. 4. Regional Focus - Brent Crude is favoured by traders who have a global outlook or trade oil products tied to European, Asian, or African markets. - WTI is a solid choice for traders interested in US oil markets or those who rely on data from domestic US reports like the EIA. The Bottom Line In summary, understanding the differences between Brent Crude and WTI is crucial for traders analysing global oil markets. Both benchmarks offer unique opportunities depending on your trading strategy and market focus, whether you prefer the global influence of Brent or the US-centric dynamics of WTI. To get started with Brent and WTI CFDs, consider opening an FXOpen account for access to these key markets alongside low-cost trading conditions. FAQ Why Is Oil Called Brent Crude? Brent Crude gets its name from the Brent oil field located in the North Sea, discovered by Shell in the 1970s. The name "Brent" was derived from a naming convention based on birds—specifically, the Brent goose. Over time, it’s become the benchmark for oil produced in the North Sea, now serving as a global pricing standard for much of the world's oil supply. What Does WTI Stand For? WTI stands for West Texas Intermediate. It refers to a grade of crude oil that is primarily produced in the United States, specifically from oil fields in Texas, North Dakota, and surrounding regions. WTI is one of the key benchmarks for oil pricing, particularly in North America. Is Brent Crude Sweet or Sour? Brent Crude is considered a light, sweet crude oil. It has a low sulphur content, making it easier to refine into high-value products like gasoline and diesel. However, it contains slightly more sulphur than WTI, which is why it's marginally classified as less sweet. Why Is Brent Always More Expensive Than WTI? Brent is often more expensive than WTI due to its global demand and greater sensitivity to geopolitical risks. Brent is influenced by international factors, including OPEC+ decisions and conflicts in key oil-producing regions, which often lead to supply disruptions. WTI, meanwhile, is more affected by domestic US supply and demand. Is Saudi Oil Brent or WTI? Saudi oil is neither Brent nor WTI. It falls under its own classification, primarily as Arabian Light Crude. However, Brent Crude is often used as a pricing benchmark for oil exports from Saudi Arabia and other OPEC nations. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XBRUSDEducation
by FXOpen
1