oil in possible expanding triangleI believe oil will play out something like this.. possible nested variations of a expanding triangle here, We will have to watch levels to place trades.
Oil(wti)
Oil rebound time CryptonikLion Oil is at some historical lows right now due to the weak demand,so i expected that the price can reach as low as 17 cents but that drop will be fast,because i am sure that at the price the buyers will buy at that price like never before so going long on Oil does make a lot of sense, i mean a child can understand that after CV-19 the price of oils will rebound to at least 30-35$ in next 6-9 months
WTI looks very weak hereIt's one of the most popular commodities to trade nowadays due to the crazy volatility
Right now the OIL is having a big sell off
Probably will continue dumping until the 20s level which is an important demand zone
WTI/SPX Ratio Showing Light at the End of the Tunnel for OilWTI/SPX Ratio Showing Light at the End of the Tunnel for Oil Stocks
WTI IntradayAfter the decline on Friday, we are in a correction.
We're expecting a breakout and a downward movement.
Support Levels
$ 22.15
$ 21,41
$ 20,65
WTIUSD on the 4-hour channel developmentA downward channel has been developing ever since the OPEC + group broke down around a month ago. Now that things are mended, there are questions if the production cuts are enough to lift the price further. Several attempts at a retracement haven't succeeded . have a neutral stance in the short term.
Disclaimer: These are amateur opinions.
The Oil War is "Over".. the party is over.There are so many fundamentals I exhausted on yesterday's research and analysis of the underlying factors so please have a read through those. My fundamental long bias now results from simple supply side economics. In conjunction with this, many to nearly all over-leveraged mid and large cap oil companies and their contracts (strategic partnerships/contractors) have fallen and will be consolidated. This will lower multiples, and force a much clearer focus to bottom line effenciens and choke points to very low acceptance thresholds. As oil tanks become filled to capacity, Oil cuts will reduce and inflation will raise once COVID ends and the world enjoys 10$ round trip flights and 0.96$/ gallon gas for their summer vacation with their Trump check. Things will get better economically, and Oil is undervalued it's sick.
The Alliance between Opec and Russia may cease headlines for now, allowing algo's to let go and fundamentals take over in a natural market again.
OPEC will cut 9.7 million bbl's per ay, just below the proposed $10 million. This is a lot of oil and is capable of suppressed asks to sustain bullish rallies. Futures now showing 30$ a bbl.. thus, I'm now long oil. Big time.
Stopposses will be updated when I enter long. All oil long entries closed..
10:37:07 (UTC)
Mon Apr 13, 2020
WTI Crude - An End to the Price War?Market has high expectations for OPEC+++
The stand-out event today is undoubtedly the OPEC+++ meeting, where producers will attempt to find agreement on output that addresses the collapse in demand and crude prices.
No one is winning in this environment but, as ever, each are losing to different degrees and have a different ideas on how it should be resolved. I don’t think a grand deal is as nailed on as markets would have us believe but, as ever, common sense should prevail.
If a substantial deal is going to get over the line, the US must play a part in some form. It is currently hoping that a market-driven, forced production cut will be enough to convince other producers to cut but I’m not sure that will be enough. Other assurances will be necessary to get Russia on board, which is the biggest risk to a deal.
That said, traders have heavily bought into this potential deal, following President Trump's tweet last week. The risk now is not just whether a deal is done but, if it is, will it be enough? I'm not sure a 10 million barrel cut will be enough to hold the gains and even 15 million may just about given the demand destruction we've seen.
Should we see above 15 million barrels, it could give the oil price a big boost, with the break of $30 in WTI potentially being the catalyst for another big move higher. The next notable level above here is $35 and if producers want to see higher than this, the cut may have to be closer to 20 million and include the US in some form.
Oil has jumped today on reports that Saudi Arabia and Russia have reached a deal on cuts of up to 20 million. The headline sounds good but the small print may not read quite as well. Should this be confirmed without any drawbacks in the fine print, I'd expect oil prices to rise more than they have.
There's always the risk of "buy the rumour, sell the fact" strategies going into these things which is why the detail and believability is so important.
From a technical standpoint, this looks like a market that's bottomed and just waiting to pounce above $30, but for that we need confirmation. A break above $30 says traders are satisfied with the cuts, at which point we may be able to look upwards for the first time in a while.
OIL ! ACCUMULATION BEFORE PUMPWTI couldnt break the 29 level again and looks weak here.
Before going up and try to make new higher highs we need to retest the previous supports.
Buy around 21-22.8 and targer above 30 usd.
OAS LongOasis Petroleum was one of the hardest hit producers following the collapse of oil. As oil begins to recover and OPEC+ agree on productions cuts, we will see OAS begin to climb back.
As the RSI chart indicates, the price has oscillated in a tight range. However, the RSI has begun to diverge and move upward indicating a bullish bias. The stock as at all times lows. Oil is not going away any time soon. Safe to accumulate long positions here in my opinion.
Best of luck trading!
CRUDE OIL (WTI) KEEP CALM! TREND IS STILL BEARISH!
hey guys,
reading news outlets and ideas on tradingview, the forecasts are all bullish right now!
people are urged to buy from any level based on the fundamental news.
be very careful! though we truly see a dramatic shift and strong bullish rally this week,
don't forget that technically the trend remains bearish!
moreover, currently, the price is trading on a key structure resistance level and for now
buyers could not break above that and we see a negative reaction.
the next safe opportunity to buy will come only after a bullish breakout of the underlined resistance,
for now just patiently watch the reaction of the market.
it is still possible that next week we may see a perfect signal to short.
so no rush right now!
good luck and have a great weekend!
WTI Oil, H4 - possible wave CThe recent sharp upward movement on the oil market caused by Donald Trump’s tweets looks like a possible wave C in a larger corrective movement. Previously the price of crude oil has reached the new low and has created a potential wave B which consists of three waves down. Before wave B we may spot a nice sharp rally which could be labeled as wave A. Currently the wave C may have been created. The potential resistance may be located at the wave A top near 28,20 USD.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
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oil, cl, day trading for Apr 2nd 2020the early session has been all long and is balancing near teh highs so will be watching for a test of the lower balance (Red low) for a continuation long or a break lower, So that lays out plan a and plan b.
Everything will depend on how we respond off the lows. and in the event we only test the high will look for break that retests for a long.
EIA Report Shows Larger Than Expected Build in Crude InventoriesHeadlines
• EIA Report Shows Larger Than Expected Build in Crude Inventories of 13.833 Million Barrels
• Equities in Europe & US Continue Their Fall as Sentiment Surrounding the Virus Weighs on Investors
• SNOC Pauses LNG Storage Terminal Project as it Completes Further Evaluation on Discovery
cl, oil, day trading for Apr 1st 2020Today is simple due to the oil report and think we stay inside the red zone until report.
however if we do break the zone will still wait till post report, I think we will soon start to see some big inventory builds
oil where goes?it's a weekly time frame be careful, I think price drop to 17.5 and then start the rally to 65usd.
Gasoline Falls in Asia + Stock Futures Fall in Europe & USHeadlines:
• Crude Finishes Flat Whilst Gasoline Futures Drop -6% Within Asia
• CNOOC Announces the Postponement of its Canadian East Coast Project Due to Covid-19
• US Futures Fall as Virus Concerns Reappear Whilst Asia Starts the Quarter Off Lower
cl, oil, day trading for Mar 31st 2020oil has been moving up but is now testing its entire current range and the bottom of this range is critical to the bull case for the day. W also could be expanding the chop zone to include yesterday and today, we will know this better by days end.
I will be looking for the long and short inside the red zone until the red zone is broke and at that point trading in the breaking direction trying to make the targets posted.
Crude Dips Below $20 a Barrel before Recovering End of SessionHeadlines
• Crude Dips Below $20 a Barrel before Recovering at End of Session to 20.09
• Global Stocks Begin the Week Higher as IT & Health Care Lead Indexes Higher
• Norwegian Energy Ministry Proposes Exploration Blocks Amidst Falling Prices
WTI US crude oil. Buy. Divergence. Gap fill?Here we can see a nice divergence of lower prices with a rising RSI and MACDH divergence on the hourly. Nice Doji reversal candle to.
Analysis of the WTI charts shows big volume on this candle to.
Is this a double bottom? Will we see a big pump up to the neckline? Resistance box to get through first. As always I'll be taking profits as we hit that and buying pullbacks again on the 5 min (or 1 min depending on momentum) charts.
oil, cl, day trading for Mar 30 2020The pre regular hours trading has oil seeing new lows however is forming a bottom heavy balance that looks to be pointing to lower levels. Upon RTH open can see oil bouncing up a little before dropping firmly into the teens. I will be ready for this bounce part to not happen additionally will remain leaning short if the Red zone top can not be moved past.
