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Oilforecast

#OIL SHORT TERM SELL OPPORTUNITYAlright first off price is in bullish Daily trend but it reached 161% of Fibonacci extension ratio and as a result of that we saw a bearish engulfing candle which tells us participants who were long in oil are probably busy with profit taking actions and as a result it is possible that we see a bearish corrective move. If you are with me so far now lets see how we can trade oil in short time. In 4H time frame we saw an impulsive bearish move which shifted the 4H time frame structure to bearish for the first time in long time, after that bearish impulsive move we have a bullish corrective move which you can see in 1H time frame. Now price has reached an important res area with RSI indicator divergence and also we can see 1H bearish engulfing candle which shows us price has an intention for down side move also we kind of see that in 1H time frame price also couldn't create HH and we can see a Double top formation which is another confluence for bearish move. Now in case of trading you can probably wait for the price to come below double top neckline which is around 82.050 and then wait for the retest or you can trade it with your strategy at any given time. But it is important to remember this is a counter trend trading and the overall trend is bullish. For targeting first target obviously would be around 80.500 and after that its kind of risky to hold the position because as I said its against the main trend. Wish you all the best
OShort
by mohemati
Oil Short SetupOIL Short Setup 🔵 Entry Level: $82.95 🟢 Take Profit: $79.49 (2.22) ⛔ Stop Loss: $84.51 Reasoning: 1) Yesterday's trades went as planned, unfortunately, I wasn't behind my desk to assess the volume and take them, but If you did, good for you. We are approaching the middle trendline, so I expect a small retracement after that point. 2) I am also expecting a divergence to form somewhere around the entry level. 3) Stop Loss is pretty loose since I want to give the trade some space to breathe With that being said, bear in mind the spread and the weekend fees, which may eat up your profits.
CAPITALCOM:OIL_CRUDEShort
by Quant_
Oil Long SetupOil Long Setup - 3 Levels 🔵 Entry Level: $82.89 🟢 Take Profit: $85.29 (2.26) ⛔ Stop Loss: $81.83 🔵 Entry Level: $81.21 🟢 Take Profit: $84.35 (3.78) ⛔ Stop Loss: $80.38 🔵 Entry Level: $80.31 🟢 Take Profit: $82.83 (3.27) ⛔ Stop Loss: $79.54 Reasons: 1) I've marked the three levels of interest that I have for opening long orders. I will be monitoring each one BEFORE opening a trade, so I don't have them set as limit orders yet. 2) For Level 1 I would like to see a double bottom forming. If it doesn't I am inclined to set a limit for Level 2. 3) I am certainly setting a limit order for Level 3 if I see the other two levels fail, since that diagonal trend line in the ascending channel so far has been well respected. If it doesn't hold up, I will be looking for opening shorts only.
CAPITALCOM:OIL_CRUDELong
by Quant_
Oil Short SetupOIL Short Setup 🔵 Entry Level: $84.72 🟢 Take Profit: $80.03 (3.58R) ⛔ Stop Loss: $86.03 Reasons: - I'm expecting the price to bounce off the first level (marked for a long position) and continue trending up until it reaches the upper trendline again. - So far the price has been respecting this ascending channel - I am not taking the long position, but I've marked it so that I have more confidence in my short if the price does behave in the above-described way
CAPITALCOM:OIL_CRUDEShort
by Quant_
USOIL SellAs we saw the movement on the prices of oil the last week we saw strong bullish momentum and high demand on oil during the last week and on our opinion the OIL may make strong retracement to the south to the level of 76.50 at the level of 61.8% Fibonacci expansion and then we might see pullback one more time to the current levels at 78.5 from that we may see continuation to the downside with high volatility and our stop loss will be fixed above the last highest high of the whole bullish movement at the number of 80 and our targets will be 75.50 and 73.50 in sequence use money management and don't move or remove your stop loss trade safe
TVC:USOILShort
by AbdallaAmgad
5
UKOIL monthly technical analysis !TVC:UKOIL Hi everyone , I hope you're all fine . - UKOIL has recently broke downtrend and also the price had a pullback to the broken trendline - Also the price is is moving in a ascending channel --------------- the next resistances would be : 1- 86.70 (which is the top of channel and also last resistance 2- 116.00 (which is a nice resistance with 4 touches since 2012 and 2016 until now now let's see some fundamental info about OIL : - US crude inventories fell more than expected last week, hitting a three-year low, according to the US Petroleum Institute and the US Energy Information Administration. The upward trend in natural gas is likely to lead to increased demand for black gold. This year, crude oil has grown by more than 80 percent since the beginning of the year, as the global economic recovery from the Corona outbreak significantly boosted demand. On the supply side, OPEC Plus members are also gradually reducing their production restrictions. In addition, Hurricanes Ida and Nicholas affected production in the United States. The Gulf of Mexico was hit hard in late August (early September) and September (early October), respectively. Given the imminence of the fourth quarter and the winter season in the Northern Hemisphere, some investors predict a continued upward trend in prices. The Goldman Sachs Group (NYSE: GS) said the market deficit was higher than expected, raising Brent oil forecast from $ 10 to $ 90 a barrel at the end of the year . Source : Investing.com ----- so what's your opinion guys ?? we'd be glad to see your idea in comments .
TVC:UKOILLong
by mahdirhimi
24th Sep 2021: OIL Price Will Drop To $50.60 Prediction50/60 is the next prediction number. 50.60 is the new number lottery price. The 50/60 agenda is just about to begin with from the oil. This will take time. This is not just one day work. Agenda and cards has been planned on the oil production company. There will be an event will about to occur between middle party. 50/60 is a clash. My prediction towards after the pass successful prediction on Putin President to $42.00 per barrel will end its trend. It is a second chapter. We will might dont want to hear any hard agenda will be going on towards the Q4. We will see the secondary reset of the century. Lots of crash and clash will about to occur. Keep this number and mind and stay towards the prediction. Zezu Zaza 2048
TVC:USOILShort
by Zezu_Zaza
4
OIL Breaking out of the bull flag or another fakeout?Hello and welcome to my post ! OIL is still in a strong uptrend and we are just breaking out from a bullflag. We are getting strong resistances from EMA100 and MA200. Something worth mentioning is the purple boxes on the chart, they are indicating previously fake out areas, a think that might happen if the price action dosent break the previously mentioned resistances. If we continue from here the break of the bull flag strongly the target is 72$. Indicators: The combination of the overbought SRSI and the mid level RSI suggest a strong momentum for the bulls. Don't forget to protect yourself with proper Risk Management. Information provided is only educational and should not be used to take action in the market ! Feel free to ask anything in the comments or send me a message ! Thank you for reading my post,if you liked the idea you can support with a like and a follow have a great day !
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by AM.98
6