Get started

Oil(wti)

Hellena | Oil (4H): LONG to area of 82.000 (Wave "5"). Colleagues, all trading instruments are behaving extremely unpredictably right now due to the situation with Trump's inauguration among other things. I see this as an opportunity to redraw the waves. Apparently now the price is developing wave “4” and will finish it soon. I expect the price to reach the area of 82.000, renewing the high of wave “3”. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDELong
by Hellena_Trade
10
WTI OIL expecting a +10% rise.WTI Oil (USOIL) has been trading within a Channel Up, supported by the 4H MA50 (blue trend-line) since the December 27 break-out. The price has already made contact with the bottom of the pattern (Higher Lows trend-line) so it is already a buy opportunity. The ultimate buy signal technically, however, has been the 4H RSI Higher Lows since the December 06 Low, so it is possible to see one more small pull-back before the trend reverses. Since the previous two Bullish Legs have increased by at least +10% since their 4H RSI Lows, we are targeting $84.40, which is the Resistance 1 level, exactly on the +10% mark. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
Waiting for Clarity: Insights on Oil and the 70 Put OptionsLet’s talk about WTI oil for a moment. In the upcoming monthly expiration series set for January 15, there’s some interesting action happening with the 70 put options. Traders aren’t just dumping these puts; they’re actively reselling them, and there are definitely buyers stepping in. What’s even more intriguing is that the same 70 puts are being picked up in the next options series as well. Now, if you look at the charts, it seems like prices have finally broken out of that range they’ve been stuck in for a while and are gearing up to move higher. With this kind of sentiment in play, I’m going to hold off on making any buys for now and wait for some clearer signals before jumping in.
TVC:USOILShort
by ClashChartsTeam
Oil Bulls Go for the Break into Yearly OpenOil prices are threatening a major breakout here after clearing resistance yesterday at the objective 2024 yearly open near 72.14 . The focus is on todays close with respect to the 61.8% retracement at 73.90 . A daily close above would keep the focus on a possible rally towrads the 78.6% retracement at 75.89 and the October high-close at 77.25 - note the highlighted slope confluence (look for a larger reaction there IF reached). Initial support back at 72.14 with bullish invalidation now raised to 71.02 . MB
TVC:USOIL
by FOREXcom
Brent - good start of oil in the new year!Brent oil is above EMA200 and EMA50 in the 4-hour time frame and is moving in its upward channel. On the ceiling of the ascending channel, we will look for oil selling positions. In case of a valid break of the $75 range, we can see the continuation of the downward trend. On the other hand, within the demand zone, we can buy with a suitable risk reward. Over the past three months, the Brent crude oil market has emerged as the largest commodity market in the world, with a daily trading volume of $75.2 billion. The credit rating agency Fitch has stated that geopolitical tensions may increase volatility in the global oil and gas sector. The agency expects global oil demand in 2025 to grow at a similar pace to 2024, although this growth is likely to be slower than in 2022 and 2023. President Joe Biden is reportedly planning to impose a 20-year ban on leasing public lands for oil and gas exploration in Nevada. According to Fox News, this move is being considered in the final weeks of Biden’s presidency, just ahead of Donald Trump’s inauguration. This prohibition would prevent companies from leasing federal lands in the region for oil and gas exploration or extraction activities. As reported by Axios, Biden has been reviewing potential options for a military strike on Iran’s nuclear facilities. This action would only be considered if Iran takes significant steps toward building nuclear weapons before January 20. Reports indicate that Iran has enriched uranium to 60%, which is close to the 90% threshold required for weapons-grade material. Additionally, advancements in Iran’s centrifuge technology suggest the country could achieve this level within a matter of days. However, reports also caution that developing a nuclear warhead would still require at least one year. These assessments come as Biden approaches the end of his term and Donald Trump prepares to assume the presidency. Trump’s approach to Iran and its nuclear program is a topic of great interest, given his record during his first term. Previously, Trump adopted a “maximum pressure” strategy against Iran and withdrew from the Joint Comprehensive Plan of Action (JCPOA). The question now arises whether he will pursue a similar course of action or take a different approach in his new administration.
BLACKBULL:BRENTShort
by Ali_PSND
Hellena | Oil (4H): Short to support area at 66.867.Colleagues, oil has been in a sideways movement for the last month and is not living up to our expectations, but I still believe that the price will start a downward movement to the support area at 66.867. Now the price is in a complicated wave movement, which I named (A, B, C). In fact, the movement is more complicated, but I will not describe the rules of the Leading diagonal now. So I expect that the price will reach the area of 72, complete wave 2 and start a downward movement. But there is a variant when the price will start the movement at once. Therefore, I do not recommend long positions. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
11
Hellena | Oil (4H): Short to support lvl 63.5 (Wave 3).Colleagues, the last forecast is still active, but I thought it was worth doing another one that will show more clearly what is happening now. In my opinion, the price is still in wave “2” of low order, but in a three-wave correction. This means that wave “2” (black, lower wave) should not update the level of 73.114, but it can update 71.695, although this condition is not necessary. As a result, I still believe that the price will continue its downward movement, although it is in a prolonged correction. There are 2 possible courses of action: 1) The riskier one is to open a short position on the market. 2) Conservative - wait for the price to rise, and enter with less risk. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
15
2024-12-03 - priceactiontds - daily update - wti crude oilGood Evening and I hope you are well. tl;dr wti crude oil futures - Neutral. Bulls did what they had to, to prevent a flush down to 66. Market traded above 70 and we made a higher low. Bulls would need to print 71.5 for a higher high and I can’t see that happening as of now. Chop between 68 and 70 is most likely here. comment : Midpoint of this triangle is around 69.3 and this will be a magnet until we either make higher highs or lower lows. It’s a trading range, don’t over analyze it. current market cycle : trading range (big triangle on the daily chart) key levels: 66 - 70 bull case: Bulls had a decent day and turned the market completely neutral again. Only above 71.5 they are favored for higher prices. For tomorrow I expect some more sideways price action between 69 and 70.5. Invalidation is below 66.27 bear case : Bears need to keep it below 71.5 or we are making higher highs again. They tried to close below 68 for 4 days and today we saw bears giving up on it. Bears are still favored to keep it inside the triangle, so either play the range or don’t trade at all. Betting on a huge breakout is not a decent strategy after going sideways for so long. Invalidation is above 71.5. short term: Neutral inside the triangle. Area round 70.5 should be huge resistance. medium-long term - Update from 2024-11-10 : Unless an event comes up, this will very likely close around 70 for the year. current swing trade: Nope trade of the day: Could have longed anywhere and made money. 1h 20ema is strong support until broken.
NYMEX:MCL1!
by priceactiontds
WTI CRUDE OIL: targeting 95.00 with support by the 1M MA100.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 51.599, MACD = -0.340, ADX = 19.425) as the price hasn't practically moved for 3 straight weeks. Even the 1W RSI remains neutral (RSI = 46.004) as the last 4 candles have closed inside the 1M MA50 - 1M MA100 range. The 1M MA100 is basically supporting the pattern since April 2021. As long as it does, chances are will see a strong rebound to the R1 level, a price action much like what followed the 2013 consolidation that pivoted to Leg (4). A similar S1 Zone was supporting on the 1M MA100. Consequently, we turn bullish on WTI expecting a R1 test in the coming months (TP = 95.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
1
WTI OIL crucial test on the 4H MA50WTI Crude Oil (USOIL) hit yesterday its 4H MA50 (blue trend-line) and just after it broke, the short-term correction took a pause. As long as it holds, there are higher probabilities of initiating the final rally towards the Resistance Zone. If it breaks though, we expect a test of the upper levels of the Support Zone, before the rebound. Either way, our Target is $76.00 (the 0.786 Fibonacci retracement level). This is because we believe it is replicating the September bottoming pattern, where after an initial 4H RSI Bullish Divergence (Higher Highs against Lower Lows), the price rose and got rejected back to the Support Zone, only to rebound to the 0.786 Fib of the previous High. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
1
WTI - oil on fire!WTI oil is above EMA200 and EMA50 in the 4H time frame and is moving in its downward channel. If the upward trend continues and the ceiling of the channel is broken, one can first look for positions to buy it and then look for positions to sell oil in the supply zone. A downward correction towards the demand zones will provide us with the next positions to buy oil with the appropriate risk reward. Oil prices climbed as tensions between Russia and Ukraine escalated. Following Ukraine’s announcement that Russia launched an intercontinental ballistic missile targeting the central city of Dnipro, Brent crude rose to $74 per barrel. Previously, Ukraine had primarily relied on long-range weaponry supplied by Western nations. If confirmed, this missile strike would mark the first use of such a weapon since its development during the Cold War era. In recent days, additional bullish signals for oil prices have emerged. Refinery product premiums relative to crude oil have reached multi-month highs. In the United States, as fuel producers along the coasts ramped up production to meet rising export demand, profit margins for converting crude oil into gasoline and diesel hit record levels. According to Reuters, OPEC+ is likely to maintain significant oil production cuts for an extended period due to weak global demand. Analysts and insiders suggest that the OPEC+ meeting in December will face major constraints in determining production policy. While increasing production amid weak demand could be risky, further cuts may prove challenging as some members push to raise output. OPEC+, which includes Russia and produces nearly half of the world’s oil, has repeatedly delayed its gradual production increase plans this year. Meanwhile, rising gas prices are creating tough challenges for European policymakers as they brace for a harsh winter. Javier Blas, a Bloomberg columnist, argues that Europe has yet to fully grasp the energy crisis stemming from Russia’s invasion of Ukraine. He asserts that the continent has mistaken recent strategic successes for mere weather-related luck, but the situation has now deteriorated. This points to another winter of high gas and electricity prices, placing significant pressure on energy-intensive industries. Many large-scale manufacturers have announced plant closures and asset write-downs, while households face surging retail energy prices. This inflationary trend will add further complications for the European Central Bank and the Bank of England. Wholesale gas prices in Europe have risen to €47 per megawatt-hour, twice the February lows and 130% above the 2010-2020 average. Wall Street has raised concerns that a second Trump presidency could negatively impact oil prices, arguing that producers might ramp up drilling and production before facing Biden-era regulatory pressures. However, another faction in Wall Street suggests this narrative is incomplete. Standard Chartered points out that the nature of U.S. shale oil production makes it difficult to sustain long-term supply increases. Unlike OPEC producers, whose output is often controlled by state-owned oil companies, U.S. production is dominated by several large corporations, independent producers, and private firms. This perspective aligns with Goldman Sachs’ analysis. In July, Goldman Sachs predicted that U.S. crude oil production would grow by 500,000 barrels per day this year, a slower pace compared to last year’s 1 million barrels per day increase. Nevertheless, the U.S. will account for 60% of non-OPEC supply growth, with the Permian Basin expected to grow by 340,000 barrels per day annually—lower than the initial forecast of 520,000 barrels per day made by Wall Street analysts.
TVC:USOILLong
by Ali_PSND
Hellena | Oil (4H): Short to 100% Fibo lvl 62.238.Colleagues! If we believe the wave pattern, the price is now in a strong impulsive downward movement. I believe that the price will renew the lows and rush to the area of 100% Fibonacci extension to the area of 62.238. Wave 3 lower wave should be completed there. But we should not forget that the price is in wave 3 of the higher and middle order, which means that there are more chances for a downward movement! There are 2 possible courses of action: 1) The riskier one is to open a short position on the market. 2) Conservative - wait for the price to rise, and enter with less risk. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
38
USDCAD - CAD look at the oil market!The USDCAD currency pair is above the EMA200 and EMA50 in the 4H timeframe and is moving in its upward channel. Due to the location of this currency pair at the ceiling of the channel, you can save a part of your purchase position. The correction of this currency pair towards the demand zones will provide us with the next buying positions. Monetary Policy in Canada • Interest Rate Cuts: Goldman Sachs forecasts that the Bank of Canada will cut interest rates by 50 basis points in December (previous forecast: 25 basis points). It is expected that this downward trend will continue, reaching a terminal rate of 2.25% by June 2025 (previous forecast: 2.50%). Oil Developments in the U.S. • Crude Oil Production: U.S. crude oil production has reached 13.23 million barrels per day this year, slightly higher than the previous figure of 13.22 million. For 2024, production is forecasted at 13.53 million barrels per day (a minor decrease from the previous forecast of 13.54 million barrels). • Crude Oil Prices: The average price of Brent oil in 2024 is projected at $80.95 per barrel (slightly higher than the previous forecast of $80.89). For 2025, the average is expected to decline to $76.06 per barrel (previous forecast: $77.59). The average price of West Texas Intermediate (WTI) oil is estimated at $77 per barrel in 2024 and $71.6 in 2025, slightly below earlier projections. Oil Demand: • U.S. oil demand for 2024 and 2025 is estimated at 20.3 million and 20.5 million barrels per day, unchanged from previous forecasts. OPEC and Production Adjustments: • Lower Global Demand Growth Forecasts: OPEC has reduced its forecasts for global oil demand growth in 2024 and 2025 to 1.82 and 1.54 million barrels per day, respectively (previous forecasts: 1.93 and 1.64 million). • Increased OPEC Production: OPEC’s average crude production in October rose to 26. 53 million barrels per day, a 466,000-barrel increase from September, primarily due to higher output from Libya. Geopolitical Issues and Iran’s Oil Policies • Iran’s Response to Sanctions: Iran’s oil minister announced that plans have been developed to maintain stable oil exports to counter potential policies from Donald Trump’s administration. • Negotiations Between Iran and the U.S.: Iranian sources reported that Tehran postponed an attack on Israel after Trump’s election to facilitate potential negotiations. Messages conveyed through Baghdad included recommendations to avoid escalating tensions and create an opportunity for talks. Developments in Lebanon and Israel • Ceasefire negotiations in Lebanon are nearing conclusion. Israeli sources have confirmed alignment between the U.S. and Israel on the ceasefire agreement. However, Lebanon’s situation remains complex, with ongoing discussions between Hezbollah, the parliament speaker, the prime minister, and U.S. officials.
Long
by Ali_PSND
WTI CRUDE OIL: confirmed bottom formation. Buy and target 77.50.WTI Crude Oil is bearish on its 1D technical outlook (RSI = 42.429, MACD = -0.380, ADX = 24.190) but that bearish sentiment is the ideal buy entry as the price hit today the top of the S1 Zone and stayed supported, extending the sideways price action of the last 2 days. The 4H RSI is on HL, which has been the distinct characteristic of all prior 3 bottoms. Being on the 0.236 Fibonacci level, we expect a strong rebound to start even as soon as tomorrow, to test the bottom of the R1 Zone (TP = 77.50). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
1
WTI OIL forming multi-year bottom. $115 rally expected.WTI Oil (USOIL) is trading below its 1M MA200 (orange trend-line) for the 4th straight month. The fact that it hasn't made a new Low yet, is a sign of strong long-term buying pressure here, hence a Support base. Technically the price is forming the new multi-year bottom of this Cycle, similar to the below 1M MA200 bottom formation during November 2001 - January 2002. As you can see, those two decade long patterns are very similar in terms of price action, something that is also visible on their 1M RSI fractals. The fact that a 1M Golden Cross was formed last May, makes the sequence even more bullish. The 2002 bottom initiated a rally, which in 1.5 year hit the Resistance Zone that was in place for more than 10 years. This time we have a Resistance Zone that goes back to 2011 and last time it rejected the price in March and June 2022 during the Ukraine - Russia war peak. When the price breaks the 1M MA50 (blue trend-line) again and closes above it, we may have an even stronger rally (fueled by inflationary forces of course, as the Fed continues their Rate-cut Cycle), as long as the 1M candles keep closing above the 1M MA50. In any case, our Target for the next 12 - 18 months is $115.00 (just inside the Resistance Zone). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
1
Hellena | Oil (4H): Short to support area at 67 (Again).Dear Colleagues, I believe that price is still in a five-wave downtrend. The mid-order wave “3” is in a small correction, but very soon the downward movement will continue. I believe that the price has already closed the gap and may reach the resistance area of 74, then I expect the price to decline to the support area of 67.046. There are 2 possible courses of action: 1) The riskier one is to open a short position on the market. 2) Conservative - wait for the price to rise, and enter with less risk. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
12