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Energy Commodities

Crude Oil (CL1!): Waiting for the perfect entry after declineWe have continued to see crude oil prices fall lower and lower since we first analyzed it five months ago. The recent price decline is largely attributed to a worsening demand outlook. According to Commerzbank, the post-pandemic normalisation of demand growth in China has sharply deteriorated. Between April and July, oil demand was even lower than the previous year, and data released last weekend offers little hope for improvement in Chinese crude oil processing for August. Additionally, the International Energy Agency (IEA) has revised its forecast for global oil demand down to 900,000 barrels per day, with China accounting for just 20% of that growth. What was once a driver of demand is now seen as a drag on the market. The IEA projects that oil demand in China will rise by 260,000 barrels per day by 2025. With the continued struggles of global oil demand on one side and Middle East tensions on the other, it makes sense to set a limit order on crude oil as we closely watch how well NYMEX:CL1! respects the key levels on the chart. We're still targeting the $63.23-$57 range for a potential buy-in as we continue to monitor the market for an ideal entry point.
NYMEX:CL1!Long
by freeguy_by_wmc
4
USOIL Will Go Higher! Long! Take a look at our analysis for USOIL. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 67.55. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 71.74 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILLong
by SignalProvider
1
Market Analysis: Oil Price Dips FurtherMarket Analysis: Oil Price Dips Further Crude oil is showing bearish signs and might decline below $66.80. Important Takeaways for Oil Price Analysis Today - Crude oil prices failed to clear the $72.20 region and started a fresh decline. - There is a connecting bearish trend line forming with resistance at $68.10 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to clear the $72.20 resistance zone against the US Dollar. The price started a fresh decline below the $70.00 support. The price even dipped below the $68.00 level and the 50-hour simple moving average. The bulls are now active near the $66.80 level. A low was formed at $66.82 and the price is now consolidating losses. If there is a fresh increase, it could face resistance near the 23.6% Fib retracement level of the downward move from the $72.19 swing high to the $66.82 low. There is also a connecting bearish trend line forming with resistance at $68.10. The first major resistance is near the $69.50 level or the 50% Fib retracement level of the downward move from the $72.19 swing high to the $66.82 low. Any more gains might send the price toward the $70.90 level. Any more gains might call for a test of $72.20. Conversely, the price might continue to move down and revisit the $66.80 support. The next major support on the WTI crude oil chart is $66.00. If there is a downside break, the price might decline toward $65.00. Any more losses may perhaps open the doors for a move toward the $62.50 support zone. 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:XTIUSD
by FXOpen
1
Bearish drop?USOUSD is rising towards the resistance level which is an overlap resistance that aligns with the 23.6% Fibonacci retracement and could reverse from this level to our take profit. Entry: 69.06 Why we like it: There is an overlap resistance level that aligns with the 23.6% Fibonacci retracement. Stop loss: 71.26 Why we like it: There is an overlap resistance level that lines up with the 61.8% Fibonacci retracement. Take profit: 65.90 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:USOUSDShort
by VantageMarkets
2
WTI Oil H1 | Bearish downtrend to resume?WTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 68.28 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 68.90 which is a level that sits above an overlap resistance. Take profit is at 66.21 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
2
Brent crude oil looks into the abyss: first $36 then $27 Brent oil is in the giant range of $16 and $150 The price is in the decline within the red large leg 2 down. It consists of 2 white smaller legs. Leg ii is in the progress after a small consolidation (blue). The first downward target is at the bottom of red large leg 1 at $36 The next target is located at the equal distance of red large leg 1 in second leg at $27 Saudi Arabia gave up oil target of $100 to increase output. Cooling Chinese economy is also a bearish factor.
ICEEUR:BRN1!Short
by aibek
Natural Gas Price Hits 3-Month HighNatural Gas Price Hits 3-Month High According to today's XNG/USD chart, the price of natural gas: → has risen by approximately 30% since the beginning of September; → is currently around the 2.95 level – the last time the price was at this level was at the end of June this year. Bullish sentiment is supported by: → forecasts of a warmer autumn, which is increasing demand for natural gas to power air conditioning systems; → concerns related to Hurricane Helen in the US Gulf of Mexico. According to the EIA, 5% of total US dry natural gas production comes from the Gulf of Mexico, and 51% of the total capacity of US natural gas processing plants is located along the US Gulf Coast. Technical analysis of the XNG/USD chart shows that in September, the price has been moving within an ascending channel (marked in blue). It is noticeable that from the 20th onwards, demand forces have intensified, leading to the following: → the price broke through the 2.64 resistance level; → the price moved to the upper half of the ascending channel, after which its median line began to show signs of support; → the RSI indicator reached overbought territory. Currently, there are no signs on the XNG/USD chart of bears attempting to seize control, while the bulls may be "gathering strength" for a possible attempt to break through the psychological level of 3.00. If this happens and is successful, it could pave the way towards the yearly high in the 3.20 region. 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:XNGUSD
by FXOpen
1
USOIL / TRADNING ABOVE SUPPORT LEVEL AT 67.19 - 4H USOIL / 4H TIME FRAME HELLO TRADERS Price Decline of 7.16%: The analysis suggests that there has already been a price drop of 7.16%. This could be the starting point for further analysis or an event that has already occurred. Breaking and Stabilizing Below 67.19: The level 67.19 seems to be a significant support or resistance point. If prices break below 67.19 and stabilize, it indicates a bearish trend. This might suggest that further declines are likely. Further Decline of 9.71%: Should the price fall and stabilize below 67.19, the analysis anticipates an additional 9.71% decline. Current Trading Above 67.19: Presently, prices are still above the 67.19 level, signaling that the market has not yet broken this key point. Expected Increase of 10.36% : The text predicts an upward movement of 10.36%, potentially implying bullish momentum if the price continues to hold above 67.19. Possibility of Further Increase: There’s a suggestion that the price could rise even more beyond the 10.36% increase if current trends hold. Technical Analysis: Current Market Condition: The asset is under bullish pressure , As long as the price remains above 67.19, the bullish momentum is expected to continue. Upward Condition: - Target 1: If the price trades above 67.19, it's expected to rise to 71.51. - Target 2: If the price stabilizes above 71.51, the next target is 72.16. Downward Condition: - If the price falls below 67.19 , it suggests a potential decline: - Target 1: A decline to 65.34. - Target 2: If it breaks below 65.34, further decline is expected to 63.93.
TVC:USOILLong
by ArinaKarayi
What’s Putting Crude Oil Prices Under Pressure?At a Glance With vehicle efficiency up and China's economy slowing, WTI crude oil prices experienced late summer lows, though they have since started to rebound Driving would need to increase by nearly 2% each year to keep fuel demand stable Crude oil prices fell sharply in late August and early September. Does this mean that oil is a bargain? The answer is complex. For starters, OPEC+ has taken 3.6 million barrels per day off of the market over the past two years. Secondly, geopolitical tensions remain high. What explains oil’s weakness despite these factors that ordinarily might have supported prices? Vehicle Efficiency The average car in model year 2024 will likely be able to drive as much as 24% further on the same amount of fuel as a similar car from model year 2012. Since a car typically lasts about 12 years, this means that each year drivers around the world need to drive about 2% further than the year before just to keep demand stable. In the U.S., drivers aren’t driving any further than they were back in 2019. Demand From China Last year, 35% of new cars sold in China were EVs, and this year that could grow to over 50%. China’s economy is also growing more slowly than in the past. Since 2005, oil prices have often peaked about one year after peaks in China’s pace of growth. China’s growth rate last crested in 2021, and oil prices peaked a year later in 2022. Moreover, China’s economy decelerated sharply over the summer which might deprive oil of a critical source of demand growth going into late 2024 and into next year. Finally, watch for OPEC+ decisions later this year, which could potentially boost output. If you have futures in your trading portfolio, you can check out CME Group data plans available on TradingView to suit your trading needs: tradingview.com/cme/ By Erik Norland, Executive Director and Senior Economist, CME Group *CME Group futures are not suitable for all investors and involve the risk of loss. Copyright © 2023 CME Group Inc. **All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
NYMEX:CL1!
by CME_Group
WTI Oil H1 | Downward momentumWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 68.70 which is a pullback resistance. Stop loss is at 70.10 which is a level that sits above the 50.0% Fibonacci retracement level and an overlap resistance. Take profit is at 66.21 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
1
USOIL WTI Technical Analysis and Trade Idea👀 👉 USOIL WTI recently broke structure to the down side, as seen on the 4H timeframe. In this video, we closely examine USOil, discussing the trend, market structure, and price action. We also explore a potential trade setup. **Disclaimer:** Forex trading involves significant risk, and market conditions can change quickly. The information provided is for educational purposes only and should not be considered financial advice. 📉✅
TVC:USOILShort
by fxtraderanthony
Important update WTI. H4 26.09.2024WTI Important update Past WTI oil buys didn't manage to get fully developed and the overall correction ended near the nearest resistance at 72.00. On the downside, large volume was poured at 69.65 and eventually gave a push to the downside, thus forming a sellers zone. I believe the overall upward correction is over and will break the lower boundary with downside potential to 64.50 to the block option spread. Then we will watch the culmination below if given, but for now selling is the priority. BLACKBULL:WTI
BLACKBULL:WTIShort
by KovachTrader
USOIL - Short Trade Idea (26th Sept 2024)This is my analysis on USOIL. So, what my eye catches is the ascending sellside trendline liquidity being build up. We have a recent touch on it, retracing into a weekly SIBI. Based on this, I am anticipating us trade quickly down into a monthly BISI as my initial target. The stoploss I set is based on the current swing high. A wider stoploss could be adopted to weather any sort of wick damage happening during high impact news. Let's see how this plays out. - R2F
TVC:USOIL
by Road_2_Funded