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Oilforecast

CLQ0: Mapping Bullish ContinuationFurther to the earlier ideas on the August delivery contract, I would like highlight the fact that it has now become the front contract of the Crude Light futures curve, and that it did so while being traded at plus 100% from its YTD low. When the June delivery contract went into negative, this contract was trading at around $20/bbl. Two months later it is trading above $40/bbl and seemingly bulls are still very much confident in their holdings. Buying the dips towards the 150% area from YTD low seems reasonable. This would mean another 25% gain from $40/bbl. The chart shows all of the relevant details on the above.
NYMEX:CLQ2020Long
by Zoen_Trieste
3
CLQO: Up by 100%! What's next?Further to the earlier idea related to CLQ2020 contract in which there was a 100% up projection within certain time, it is now established that this contract traded the 100% up area from its YTD low, and that it is currently working the offers at this key zone. The sudden downside for long exposure that we saw earlier on today is most likely an effect of traders squaring off long exposure via profit booking. If aggressive bears are unable to gain momentum in this key area, the buy stops will surely increase the counter momentum. Staying tuned in for more.
NYMEX:CLQ2020
by Zoen_Trieste
US OIL : Break above 39.30 required for Bullish ContinuationOIL has started the downward correction and reached around 34.60 which is the Fibo Extn. 1.61 Usually, if the price extends above 100% on Fibo, it's a sign of trend formation; one can expect the pullback and continuation of the move in the same direction. Therefore, I remain bearish for OIL until it closes above the falling trendline and breaks resistance at 39.30 GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
TVC:USOILShort
by moneytize
3
Oil ( WTI ) Bulls are slowing down.The bull run in WTI is definitely losing momentum. It is evident from the fact that negative divergence is coming in play between the price structure and MACD, after the 5 legs impulsive movement. Now the price is stuck between the key support at 34.86 and the critical resistance zone from 39.60 to 42.00 above. I have marked the two possible scenarios: 1. The bulls giving up immediately from the current levels ( marked in yellow ) 2. It may get one more push higher to the critical zone and then start the correction towards 33.60/30.30/28.40 & 24 based on the Fibo levels.
TVC:USOILShort
by moneytize
6
BRENT OIL top-down analysison DAILY: BRENT OIL is approaching a strong resistance and GAP zone so we will be looking for objective sell setups on lower timeframes. on H1: OIL is currently trading inside our orange channel, so we are waiting for a new swing to form around our lower orange trendline to consider it objective and enter on its break downward. we also have a regular bearish divergence on MACD. meanwhile, as usual, BRENT OIL would be overall bullish until an objective sell setup is activated.
OShort
by TheSignalyst
10
June 4. Today's matrix for mid term trading on m60 timeframe. ICEEUR:BRN1! TVC:UKOIL Hi everyone. My analysis done for my main timeframe 5m. I start from higher timeframes and move down to lowest m5. As my analysis is already done, I'm publishing matrix levels also for h1 for mid term traders. If somebody is interested in higher timeframes such as D1, W1 please let me know in comments and I will publish these levels too. Futures contract for Brent crude , London exchange ICE 08-20 My trading is based on market phases. For timeframes m60 and h1: Buy on the test of level 38.21, target 40.55 Buy 36.95, target 39.70
FX:UKOILLong
by AleksZhdan