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Oil(wti)

Oil Pulls Back At The Start Of The WeekOil is facing some pressure at the start of the week and tries to settle below $46.00. However, support for oil remains strong, and it needs to settle below the nearest support level at $45.80 to develop downside momentum. On the upside, a move above $46.25 will push oil towards the recent highs at $46.65. A successful test of this level will open the way to the $47 level. At this point, the big picture remains bullish for oil, and it should be noted that the recent attempt to gain downside momentum was quickly stopped at $45.40.
TVC:USOIL
by FXEmpirecom
WTI OIL Double entry Buy SignalPattern: Ascending Channel on 4H. Signal: Buy as the price just hit the 4H MA50, which has been supporting since November 03. Keep another buy ready in case the price hits the 0.618 Fibonacci retracement level (Highs and Lows since November 06 are on a progressive sequence) as the MACD is still open. Target: 48.00 (just below the 0.382 Fib extension). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> TradingView --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
5
CRUDE OIL (WTI) Weekly Time Frame & Key Levels hey traders, just 12 hours until weekly candle closes. it looks like the market will close above key weekly resistance (very strong bullish clue). I am already bullish biased. Here are the next key levels to pay attention to: Resistance 1 - 50.5 - 55.0 area is based on price action from 2015'th Resistance 2 - 63.0 - 66.5 area is based on 2019's highs Support 1 - 42.0 - 43.5 area. I will look for a pullback to buy from that. Key levels serve as the goal for buyers/sellers and give the safest entry points.
FX:USOILLong
by VasilyTrader
9
OIL will rise a bit more, then fall. Sell! Hello, Traders! OIL is going UP on the fundamentals. Improved outlook on the economic Recovery rate Based on the vaccine successes Consequently improves outlook on oil demand Therefore we see a price increase. However, On the technical side We see a strong rising resistance ahead. That is my target short spot From which I expect oil to retest falling support Sell! Like, comment and subscribe to boost your trading! See other ideas below too!
TVC:USOILShort
by TopTradingSignals
5
WTI OIL Buy SignalPattern: Channel Down on 4H. Signal: Buy as the current bearish leg is forming a sequence similar to the September 01 - 14 leg = Death Cross, followed by a Triangle bottom. The signal is invalidated if the Channel breaks the Lower Low trend-line. Target: The 4H MA200. Please like, subscribe and share your ideas and charts with the community! -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> TradingView --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
3
Repeated hammer for WTI OILCrude oil has been taking a beating the last few weeks. Lockdown crawling over Europe as Covid cases are increasing. Demand for Oil dropping. London into lockdown starting next week, low demand for oil still, lower prices expected. We are noting a steady decline in oil, still hunting for the previous low target of 32.8 could be rocky with elections just round the corner so expected a volatile market for a couple of weeks. Bias Oil Short Read between the lines. Let the maths do the work for you. Observation is a key, patience is a virtue.
FX_IDC:USDWTIShort
by UnknownUnicorn705200
Oil needs a supply cut or risk another deep diveIt is no surprise that Oil has had a rough couple of patches this year, with the Coronavirus shattering oil demand. What will it take for Oil to push back past $45? There has only been a couple of times where Oil has made strong moves to the upside, notably today and a couple of weeks ago when hurricanes approached the Gulf coast, forcing oil rigs to shut down and restricting supply. Any good demand hopes have been thwarted by what people can see with their eyes. Sure, investors and traders and see oil inventories are declining. However, they can still see the Coronavirus weighing down on demand. More importantly, the election is more or less a week away, and one of the markets that will get scrutinized the most is Oil. It's the common opinion that if Trump is re-elected, Oil and the initial price movement would most likely be to the upside. However, if Biden is elected, this would be bad for Oil, and the initial price movement would be to the downside. However, is that the case? Financial Times did an excellent summary of what the future holds for Oil if either candidate gets in. Biden · Fixing the Iran Nuclear deal, freeing up more barrels of Oil from Opec members for export (i.e., an increase in supply) · A $2 Trillion push for renewable energy and infrastructure to reach 'net zero' emissions by 2050 · Ban on Fracking on federal land · Proposed new drilling limits on Fracking Trump · Withdrawal from price Climate Agreement · Supports regulation for the fossil fuel industry · Close relationship with Saudi Arabia The consensus on the street is that Oil will fall on a Biden win. Amrita Sen from Energy Aspects stated that " is going to focus on Iran, so a Biden win is bearish for oil prices immediately". Furthermore, Amy Jaffe, an energy policy expert and professor at Tufts University, stated that "A Biden Victoria will be a shot in the arm for oil competitors, putting the federal government's weight behind the energy transitions and low-carbon technologies". However, a Biden win is the least of Oil's problems. As Amy put it, "Tougher milage don't mean much if people cant afford a new car." In the longer term, how will Oil fair with a Biden presidency? A push to greener energy sources would restrict the use of fossil fuels. The Biden presidency may do this by limiting further exploration of deposits / making it more expensive. This increases the cost of research and development, in which buyers will ultimately have to pay the price through an increase in oil prices. This would make the opportunity cost of using greener, more expensive energy alternatives like solar. However, there will be a point where greener energy investment alongside increasing fossil fuel prices will make the greener alternative more desirable. Sure, oil prices will be relatively higher – however, demand will slowly plateau. Bob Mcnally, a former adviser to US President George W Bush and analyst at Rapidan Energy that a Biden win may see a boost in crude in the long term on the idea that Biden "will push for a policy that prohibits / limits exploration for new oil." A Trump win should see a practical trajectory for Oil. An initial upside on his victory, with support for Fracking alongside the delaying for the impasse of greener energy and Oil, talked about above. Are you looking at Oil?
TVC:USOIL
by BlackBull_Markets