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BluetonaFX - USOIL PRICE ACTION ANALYSISHi Traders, Although we are all in the middle of key fundamentals in Russia, Saudi Arabia and the US, US Oil is still trading beautifully technically. Here on the 1D chart, we are in the range zone and have been in the past few weeks or so. We first had a price gap (shown on the chart) to break the range zone and rally up to 83.49, which is our upper Vector level. After reaching 83.49, there was a pullback to fill the price gap with a very aggressive bearish push to break below the range zone, which was rejected at the 63.61 level. After this rejection, there was a close back inside the range zone. The range zone resistance is 74.72 and the range zone support is 66.88. While in the range zone, there are great risk to reward opportunities to sell at the resistance and buy at the support with stops outside the range zone depending on which side of the trade you are on. If there is a break on either side, then we are looking at our Vector levels as possible targets. A break above the range zone and we have the Vector level target at 83.49 and a break below the range zone and we have the Vector level target at 63.61. Please do not forget to like, comment and follow. Thank you for your support. BluetonaFX
TVC:USOIL
by BluetonaFX
2
OPEC+ could push up oil price as China is most important According to the International Energy Agency (IEA), OPEC+ may push up oil prices, but China remains the most essential factor in the market. As we all know, China is the world's largest oil importer, and any changes in their demand can significantly impact global prices. With their economy recovering and demand increasing, now is the perfect time to invest in oil. The IEA also predicts that global oil demand will continue to rise in the coming years, further supporting the case for investing in this market. As traders, we can take advantage of this trend and potentially see significant investment returns. Therefore, I encourage you to consider investing in oil and taking advantage of this exciting opportunity.
TVC:USOILLong
by bryandowningqln
Valuation Chart for Exxon Mobil (by The Equty Channel)Average analyst target for Exxon s higher at $127.79. Traders who want to take advantage of this may wait to enter the trade near far value of $83.64. Oil prices hare being negatively impacted by the current economic environment and there could be some near term downside ahead of greater summer demand. Those looking to invest should know that the longer term outlook for Exxon calls for earnings to experience a -10.74% CAGR over the next 5 years. Pairing that information with my knowledge of the current economic environment it suggests there could be pandemic-like draw down for the energy sector, as the global economy continues to weaken. Investors should understand that Exxon is anchored to lower prices and wait for better buying opportunities. Tune into the Equity Channel Podcast next week for a discussion of what we may be able to expect in the second half of 2023.
NYSE:XOM
by D1Finance
Will USDCAD Breakout with Western Texas Oil on the Rise?Are you ready for some oil talk? Because I've got some juicy information for you that might make your day. Rumor has it that Western Texas oil is about to rise, which could mean big things for the USDCAD. You see, the Canadian dollar is heavily tied to the oil price, and if it goes up, we might see a breakout in the USD CAD. So, what does that mean for you? It means that you might want to consider loading up on oil and potentially making some sweet, sweet profits. Now, I know what you're thinking. "But wait, isn't oil a volatile market? Isn't it risky?" And to that, I say, "Of course it is! But what's life without a little risk, am I right?" So, if you're feeling adventurous and want to capitalize on the rise of Western Texas oil, I encourage you to load up and get ready for the ride. Who knows, you might just come out on top. Happy trading!
Long
by bryandowningqln
Today's crude oil trading advice Recently, the market's expectations for future fuel demand have declined due to the heightened risk of the U.S. economic recession, and API and EIA inventories have rebounded by varying degrees, which further supports this expectation. However, the AIE International Energy Agency strongly supports crude oil demand, coupled with the expectation of a new round of production cuts by OPCE+, crude oil has begun to reverse repeatedly after falling. After falling as high as 70 in the last trading day, it stabilized and effectively rose, and accelerated after the EIA data, it once hit the first line of 73.2, and the short-term range has repeatedly remained unchanged, and the operation is still not too much to chase Today's crude oil trading advice usoil:sell@72.5-73 tp:72-71.5 Accurately grasp every trading signal, help friends who trust me, and realize freedom of wealth
TVC:USOILShort
by UnknownUnicorn55305536
Crude oil is about to return to the upward pathAt present, oil continues to fluctuate in the 70-83 region. Last month, OPEC suddenly announced a production cut and opened higher. After a month of fluctuation, the gap was finally filled last week. Then the top-bottom conversion to the 75.7-75 region has become an important support in the short term. As for crude oil short orders, there is no rush to participate for the time being, and the technical outlook is rising; News that lower oil inventories are also a factor in the rise in crude oil; in addition, Saudi Arabia and Iraq will reduce production at any time to protect oil prices and revenue, and the probability of a sharp decline is very small, so today's crude oil trading is mainly based on low-level long positions. So our trading strategy and signals are very clear. I have published the detailed trading signals in my channel. You can enter to receive them.
TVC:USOILLong
by Short-term-king
After the oil is completed to fill the gap,can we go long on oilBecause of the impact of the banking crisis and the U.S. debt ceiling issue, the risk that the economy may fall into recession has been exacerbated, and U.S. data show that consumer confidence is insufficient, which is a very big blow to the demand for crude oil, causing crude oil to plummet in the short term and completely make up for the technical gap. Can crude oil be bought with confidence? In fact, according to the structure of crude oil, crude oil fell sharply and fell below the flag finishing structure, which laid the foundation for the short trend of crude oil, and there is currently no signal to stop the decline completely, so there is room for crude oil to go further down. However, from the point of view of the short-term structure, crude oil fell below the flag-shaped finishing structure for the first time, and completely filled the technical gap in one fell swoop. In the case of a short-term plunge in crude oil, there is a need for technical upward repair.And there is 50% support for Fibonacci below the short-term line, so for the first time in this position, you can try to long crude oil in the short-term. In trading today, the trading signals I announced on the channel for shorting gold around 1999-2000 and 2006 all reached the take-profit target of 1995. The trading signals in the last two weeks have achieved a comprehensive victory, and the result of 0 losses is enough for us to reap satisfactory profits.In trading, whether it is gold or crude oil, I have the ability to satisfy your desire to make money. I have announced detailed trading signals about crude oil in the channel. Please pay attention to the trading signals in the channel.
TVC:USOILShort
by Short-term-king
Weekly Price Projection for Brent Crude Oil W/C 17th April 2023Price Range Projection: Weekly High: ~ $86.58 Weekly Low: ~ $82.818 In the chart above, you can see the price on the 3-hour timescale, along with a fixed range volume profile. Weekly High Projection The fixed range volume profile (the horizontal histogram) is an indicator that can be used to show resistance and support levels. The red horizontal line in the close-up chart above indicates the point of control, which is the price level that had the most volume. As you can see, the price stalled around this point. This is where I see the weekly high. Weekly Low Projection I have placed the weekly low at a previous support level, which was formed from a chart pattern that had a breakout more than a month ago. This is shown with the two blue trendlines.
OANDA:BCOUSD
by BlackbearTrader
Can crude oil continue to rise?On the news side, the IEA monthly report on Friday was released. The International Energy Agency said in its monthly report on Friday that world oil demand will grow to 2 million barrels per day in 2023; on the supply side, OPEC+ production cuts may lead to supply shortages in the second half of the year, which also restricts the decline in oil prices to a certain extent.In addition, the current entry of daylight saving time, more travel demand itself has reached the peak season of oil, and oil prices will be boosted by demand from many aspects and will usher in a new wave of increases. Judging from the recent trend of crude oil, crude oil stepped back to 81.6 twice on Friday and was steadily caught by the bulls, indicating that the support below is strong and the rise will continue, so for the short term, continue to maintain the bullish thinking.Moreover, under the current pressure on oil prices, the strength of the pullback is limited, and oil prices have been fluctuating below 83.5 for the past five months. Once the resistance in this area is broken, it is expected to accelerate the rise and enter a new trading range. I will share specific transactions and operations in real time on my channel based on intraday details.In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILLong
by Short-term-king
WTI breaks out of consolidation, $90 up next?WTI broke out of consolidation and closed above its 200-day EMA and resistance zone. The OBV (on balance indicator) confirmed the breakout with a move to a new cycle high, and volumes (whilst below average) are turning higher to show buyers stepping back in. Furthermore, we saw a gap ahead of the consolidation above HKEX:79 , although using classic definitions it doesn't quite fit into 'breakaway' or 'runaway' gap category. Regardless, we've seen a 30% rally from the March low with a gap along the way, OPEC+ cut oil production, and the trend points higher. With that said, the 200-day MA is capping as resistance, so bulls may want to wait for a break (or daily close) above the level. But overall, the risks appear skewed to the upside. - The bias remains bullish above 79 and an initial move to 90, then the 93.60 highs - Wednesday's low could be used for tighter risk management
NYMEX:CL1!Long
by CityIndex
Oil is about to experience an uptrend Oil experienced a sharp decline again today, and the EIA data was also unfavorable to oil. Currently, the oil price is close to the support level of 65-63. If this area is breached, the oil price will face the risk of falling to around $50. As far as the current market situation is concerned, I think this probability is not high. Although we cannot completely rule out this risk, from a technical perspective, if the oil price continues to decline, it will become oversold, and there will be a short-term rebound demand. Therefore, in the trading process, I lean towards going long at lower levels. If you have enough margin for oil, you can start a small long position now, and take profit at above 70 upon rebound. Follow me and you'll get more interesting investment information! Plus, I'll share real-time trading strategies during trading hours, including stocks, gold , crude oil , forex, cryptocurrencies, and more!
TVC:USOILLong
by EagleEyeStrategy
1
With multiple positive support, oil prices are expected to rise?Although the major oil-producing countries have implemented production cuts to give some support to crude oil, the demand for crude oil is not too strong because the economic recovery may be much slower than originally expected.Because when market demand surges, OPEC does not need to cut production significantly, so oil prices may not rise further, but will continue to fall. On the daily chart of crude oil, in view of the surge and fall of oil prices on Monday, and the failure to break through the pressure of the strong resistance area upward for a long time, oil prices at this position are at risk of short-term volatility and peak, and the phased replenishment of the gap has not yet been completed, so compared with the top, there is still a lot of space below, so once the upward energy of crude oil is exhausted, you need to seek new technical support downwards. Short-term trading reference: Sell crude oil above 80.2, take profit level 79.4 I will share specific transactions and operations in real time on my channel based on intraday details.In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
2
Oil Gap - A Game Changer for its PricesGap means a runaway in prices or a confirmation of a clean break away from its downtrend line. (Technical) OPEC-Plus made a surprise announcement to reduce oil production starting May. Unlike OPEC, OPEC-Plus involve many more countries. This signals a synchronise effort to boost crude oil prices. Expect a much higher oil prices to come. (Fundamental) My recent crude oil videos: • Crude Oil Outlook - USD106 as major resistance • Why Crude Oil is Trending Higher Again, Breaking Above US$100 • Correlation - Crude Oil & CPI • Crude oil a leading inflation indicator See its link below. 3 types of crude oil for trading: • Crude Oil Futures 0.01 per barrel = $10.00 Code: CL • E-mini Crude Oil Futures 0.025 per barrel = $12.50 Code QM • Micro WTI Crude Oil 0.01 per barrel = $1.00 Code MCL Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
NYMEX:CL1!Long
by konhow
OIL supply cut price effect 2023OIL ---IMPORTANT UPDATE Good morning everyone, here with an important update on OIL I have been charting and using the chart below as reference since Wave #2. I was hoping we could drop more but a turn of events has occurred on the past days with the world as we all know. Its all a mess and we got to figure out how the world is going to run now. However, as of yesterday, a game changer piece of news just dropped with talks about cutting oil production output until end of 2023. How will this affect the economy? -Cutting supply means shortage. Shortage means scarcity and we all know resources up in value when they are scarce. While cutting supply can lead to a shortage and eventually scarcity, the impact on a resource's value is not always straightforward. Scarcity can drive up the value of a resource in some cases due to increased demand and limited availability. However, in other cases, scarcity can lead to decreased demand as consumers may seek alternative resources or solutions. Therefore, it is important to consider the specific factors involved in determining the impact of supply, shortage, and scarcity on the value of resources. If Saudi Arabia, along with other countries, agreed to cut oil production until the end of the year, it could have several effects on the oil market, including: 1-Increase in oil prices: By reducing the supply of oil in the market, the demand for oil could exceed the available supply, which could cause oil prices to increase. 2-Increase in demand for alternative energy sources: As oil prices rise, consumers may begin to seek alternative energy sources, such as natural gas, solar, or wind power, which could reduce demand for oil. 3-Impact on global economic growth: Higher oil prices can lead to increased inflation and higher transportation costs, which can negatively affect global economic growth. 4-Geopolitical impact: Changes in oil production can also have a geopolitical impact, as oil-producing countries may have to renegotiate their trade relationships and alliances. My opinion on what is going on: US is dealing with banking crisis caused by growing inflation. Higher oils = increased inflation. A real recession is about to occur, however, the world believed it was going to affect globally and it is not going to be the case. Truth is, the only ones really experiencing a recession is the US as we are witnessing the death of the US DOLLAR. media.discordapp.net
TVC:USOILLong
by CryptoGao1
OPEC announced a production cut,how much upside is there for oilSaudi Arabia and other OPEC+ oil-producing countries announced further production cuts of about 1.16 million barrels per day on Sunday, which provided strong upward momentum for oil prices. They opened directly higher during the day and are currently slightly lower, trading near US 80.47. Judging from the trend of crude oil, the high price this morning just touched the important pressure level at the top of the platform in the early stage, so there is demand for a technical decline in the short term.The current rebound of crude oil has exceeded expectations, and the structure has also undergone variables. If the pressure continues, we will first look at the phased replenishment action. Short-term trading reference: Try to sell crude oil in small batches near 80.5, with a take profit level of 79.4--79 In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
Can the oil price recovery last?Judging from the trend of crude oil, since crude oil rebounded above 74, the technical bullish signal has been significantly strengthened.However, although the current oil price has returned to the range of the box, on the whole, the current price has basically touched the vicinity of the pressure zone of the previous box shock.In addition, judging from the strength of the recent rebound, it has not been as strong, so the trend may face a certain level of adjustment in the short term, and there is a technical need to step back on the midline of the channel to confirm the demand.After the last wave of the 4-hour level trend rose, the price was temporarily.The narrow volatility that remains at a high level weakens the strength of the upper attack, so there may be a trend of spatial correction in the short term. Short-term trading reference: Sell crude oil near the 74.3 position, stop loss level 74.7, take profit level 73.2 In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
Rising oil prices are under pressure, so be careful of trapsAlthough the interruption of some exports from the Kurdistan region of Iraq has raised concerns about tighter supply, the United States is expected to start strategic reserve repurchases during the year, which will also benefit oil prices to promote a rebound in oil prices.However, because of the geopolitical situation between Russia and Ukraine, it is more the West that sanctions Russia, so it will not allow oil prices to rise sharply and have sufficient income, thus limiting the room for oil prices to rebound to a certain extent. From the perspective of crude oil trends, since the surge on March 27, there has not been a decent pullback and repair, so crude oil technically needs at least a second pullback to prove the effectiveness of the oil price increase. Short-term trading reference: sell crude oil near 74, stop loss level 74.4, take profit level 73.3 In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
1