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Oilforecast

WTI Crude Oil OPEC+ Token Supply CutOPEC+ unexpectedly decided to cut output in October by 100,000 barrels a day. Emily Ashford (Standard Chartered analyst): “Last month’s adjustment provided a nod to the demands of the consumers, this monthly adjustment is a small nod to the concerns of the producers,” Deepening energy crisis in Europe after Russian energy giant Gazprom PJSC said gas flows along a key pipeline to Germany would not resume. In this economic context my short term price target for WTI Crude Oil is $99. Looking forward to read your opinion about it.
TVC:USOILLong
by TopgOptions
3
USOIL Sep 2022 W.1: F&T ForecastFundamental Forecast -There are several stories unfolding in the energy space that should keep volatility elevated across energy markets, none of which are likely to find any permanent resolution anytime soon. -Net-long positioning in the oil futures market remains near its yearly low, and its lowest level since August 2016. -The IG Client Sentiment Index suggests that crude oil prices have a mixed trading bias Technical Forecast The trade ideas are derived from the both the monthly and weekly time frames. On the monthly, the price recently closed with a bearish candle below the mini double top neckline and in between the short-term moving averages, dis-confirming the bullish half a bat pattern and the moving averages bullish trend, in confirming a bearish drop for the 3rd Monthly Key Lvl/Monthly Neckline 3 together with the 21/50 moving averages. Monthly Chart: Weekly Chart rundown: As you see in the first chart image, we're looking a 3 possible scenarios that will either confirm or disconfirm the bearish bias. Starting with how it will be rejected, the price will do so after it has bullish broke and retested the Weekly Neckline together with the 50 and 8 moving average. If it bounces off the 2nd Daily Key with a bearish candle formation that leads the price to bearish break and retest the 1st Weekly Key Lvl either on the current or lower time frame, that will trigger and fully confirm the bearish trend. That's it for today. I hope you gained value from this trade idea. If you have a different concept in mind, feel free to share it in the comments section. I'd love to know your thoughts! Stay Blessed, Sphatrades.
TVC:USOILShort
by Doji-2k1
2
WTI BULLISH OUTLOOKWTI rose in value in response of potential OPEC+ cuts and conflict in Libya. This possibility of supply cuts was enough to offset the effect of the strong US dollar. WTI broke the resistance line of the ascending triangle pattern, a bullish outlook, supported as well by the RSI and MACD indicators. The instrument might test its previous support level at 99.70, but if the break turns out to be false, the instrument might test its previous support at 94.70 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTILong
by legacyFXofficial
Aramco eyes diversification after record Q2 income Is Saudi Aramco (TADAWUL: 2222) looking to diversify its income sources after soaring oil prices helped it deliver record-high earnings in the second quarter? Saudi Aramco saw its net income nearly double during the three-month period to 173.80 billion Saudi riyals ($46.28 billion) from 90.90 billion riyals. President and CEO Amin Nasser said increasing demand for the company's products made the record-high earnings possible, adding that it also benefitted from favorable market conditions stemming from strong global crude oil prices. But as oil prices begin to cool down, Saudi Aramco has set its sights on improving its technology and generating products from different sources. Reaching New Heights Saudi Aramco formally listed on the Saudi Stock Exchange Dec. 11, 2019. Upon its debut, it became the most valuable listed company with a market capitalization of $1.9 trillion. It was eventually dethroned by Apple (NASDAQ: AAPL), but thanks to oil price hikes, it reclaimed the title in May with a market value of $2.43 trillion against Apple's $2.37 trillion. Every movement in the company's price is heavily reliant on oil and energy prices. Saudi Aramco saw major growth when oil prices reach multi-year highs at the beginning of the second half. When war broke out between Russia and Ukraine, oil prices had another boost. Nowadays, industry observers aren't as bullish. Last week, oil prices tumbled amid fears that demand could weaken due to an impending economic slowdown, Reuters reported. Given this trend in oil prices, the company had been on the red, dropping nearly 3% to $39.00 since August 14. Its management does not seem fazed, however, with Nasser saying "we expect oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts." Off to new goals Nasser, as part of Saudi Aramco's second quarter results, said the company is working to increase production from multiple energy sources, including oil and gas, as well as renewables and blue hydrogen. "We are progressing the largest capital program in our history and our approach is to invest in the reliable energy and petrochemicals that the world needs, while developing lower-carbon solutions that can contribute to the broader energy transition," he added. Khalid Al-Falih, Saudi Arabia's Minister of Energy Industry and Mineral Resources and chairman of the Saudi Aramco's board, said the company will be on the frontline of the country's Vision 2030. He said the company "will become a much more technology and knowledge-driven organization" and that it "will seek to move, change, and expand into areas that will not only make it more agile and responsive, but also lead the industry into a better energy future."
TADAWUL:2222
by BlackBull_Markets
Oil Further DownsideOil is going through an indecisive patch. Was this a Double top? That is the key question we need to answer. Let us look at some fundamentals: as the world swings towards a recession, the demand for Oil will see a further fall. Japan wants to restart their nuclear plants, the world is looking for ways to ween off Gas and Oil. Germany & Canada signs a deal to produce green H2. Looks like the long term headwinds for Oil will stay. In the short term, the indecision is caused by fears of a recession vs the impact of the Jackson Hole annual meetup and its impact on the dollar. In the short term Oil may head to 95, but in the mid term, it will continue its drive down to 80 and below.
NYMEX:CL1!Short
by The_Rational_Investor
WTIOil in a bit of trouble here, likely entering a 6-10 month bear market correction. Downside target can hit the 618% of the entire 5 moves off the 2020 lows when WTI went negative. Currently a lower time frame A wave has bounced off the 618% fib retracement level of the 5th wave. But we must correct that entire 5 up not just the 5th wave. We should bounce into a B wave soon on the daily before making the larger C wave down close to $80. After that The HTF weekly A wave is complete and bounce again into HTF weekly B wave before finally nuking to $50 wave C to complete the entire move. You better BTFD IMHO guys because after this is done oil prices likely to run back turbo over $130.
FX:USOIL
by Big_Mike716
1
Crude Oil forecast - Why we will fallIf you look at the picture we can see zone of interest that was acting as support. However buyer wasn't strong enough to hold the price and we broke down. Right now many people got trapped with local trendline and squeezing to the zone. They opened longs but it's likely that was just a retest. I expect continuation of fall with first target at 90$ unless black swan comes into play. Bullish scenario would be squeezing to the zone and accumulation for 1-2 days. Then we will have a chance to break through it and hold strongly on top. What do you think of this idea? What is your opinion? Share it in the comments📄🖌 If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
NYMEX:CL1!Short
by Artem_Dishel
2