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Oilforecast

UKOIL - COVID ON THE RISE AGAIN!TECHNICALS: - Tuesday we've had one of the strongest bearish signals a big "BEARISH ENGULFING PATTERN", which was confirmed Wednesday! - Thursday and Friday we've had a little rebound (retest), but closing price was below the highs of Wednesday! - A "BEAR FLAG" has formed, where now only the flagpole is missing! - All in all, the technical data are looking VERY BEARISH! GLOBAL OUTLOOK: - Record COVID cases in INDIA (the world’s third-largest oil importer) could threaten Global Oil Demand! - The biggest cities in INDIA are on lockdown again this month! - India’s combined demand for diesel, the most used fuel in the country, and for gasoline is set to plunge by as much as 20% (!) this month compared to March, officials from refiners and fuel retailers told Bloomberg. - Also rising COVID cases in JAPAN (the world’s fourth-largest oil importer)! - Japan has declared a state of emergency (shutdown) for Tokyo, Osaka, Kyoto and Hyogo from April 25 till 11th May to stop people from travelling and spreading the virus during Japan’s Golden Week holidays from late April through the first week of May! - And last but not least GERMANY (the world’s sixth-largest oil importer) faces lockdown (curfew) until June as curbs fail to push down cases! - And not to forget, on April 1, OPEC+ said it would gradually lift daily oil production by 350,000 barrels in May, 350,000 barrels in June, and 441,000 barrels in July and holding back around eight million barrels a day of output! - All in all, globally it don't look good for oil demand within the next months!
TVC:UKOILShort
by dresipent
1
OILUSD On A Short Term ConsolidationHello everyone, if you like the idea, do not forget to support with a like and follow. Oil is consolidating on 57$ to 61$ region for the last days, not much is happening but opportunity's are everywhere. First of all what is consolidation ? Consolidation is generally market indecisiveness, which ends when the asset's price moves above or below the trading pattern. A consolidation pattern could be broken for several reasons, such as the release of materially important news or the triggering of a succession of limit orders. We can trade this region with a pretty simple plan. A break and a candle close of the resistance will lead us to the upside target. A break and a candle close of the support will lead us to the downside target. Also trading within the range is possible by just longing the support and shorting the resistance. Be on alert for important news about oil with the current world situation that can change the whole analysis with a sudden move. Thank you for reading my post, have a great day, wish you all the best ! Information provided is only educational and should not be used to take action in the market. Feel free to ask anything in the comments :)
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by AM.98
10
CrudeOil Breaks Out Of From The Up Trend Channel Hello everyone, if you like the idea, do not forget to support with a like and follow. Oil price broke the lower trend line of the ascending channel, for the moment i am looking for a retest of the broken trend line as we found support at 59$ and the indicators showing strength to the upside. As market moves i will updating this post stay tuned. Thank you for reading my post, have a great day, wish you all the best ! Information provided is only educational and should not be used to take action in the market. Feel free to ask anything in the comments :)
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by AM.98
1
Brent Crude: The Big Bear Show! 🐻🐻🐻It has been a while since we spotted bears on the oil market, but they came back in phenomenal fashion! With the yesterday’s offensive, they were able to pull the price shortly under the second support line at $62.36 – a crucial mark within our primary scenario. We expect that the price will further drop below $59.04. From there, we see a more comprehensive bullish run setting in to tackle heights of $80 and beyond. Good opportunities are coming!
TVC:UKOIL
by MarketIntel
Oil- 4,2% lower since we went short 🍂Hi guys, just wanted to share my thoughts with you not just about Oil - an idea that almost nobody liked!- but about Trading in general. Listen to what I say, try to understand the words and the thinking that comes out of my experience and i hope that I will be able to affect your trading and make it a little better... why not? We keep buying cryptos selectively, it's going well because even in 'red' days like today our selection is performing nicely BUT at the same time we hedge our exposure (we hedge) with some shorts on other assets. Oil for example since yesterday. I hope I am making sense and i wish i can affect your trading positively. If yes please leave a comment and remember to apy attention moreto the ideas with less likes because they tend to be the best ones. One love, the FXPROFESSOR
FX:USOILShort
by FX_Professor