CLQ0: Potential Buy SetupsThe current low is highlighted with the green square that shows potential trade setup projections for the upcoming couple of months before this contract's expiry.
Oilforecast
The Iceberg Support breaks ?Hello dear traders,
Hoping that everyone is just fine..
Yesterday was a nice trade, but the US session is getting smart and make a wise steps. Of course the country need to save the economy, or getting more worst. But, the demand of OIL still far than before. And lots of countries are full loaded of oil storage...
As the Asian market is still weak, not really strong... the declining market sees more often. The iceberg supports maybe will be broken in a few hours. Trade is active and looking forward 11 region.
The roller coaster is slips..The trade bring the oil market drifted back down. As they trying to fill up the pipelines as a storage, It may not implement as soon as possible. It takes months to create and manage the project. They said stop the rigs, shut down the drilling .. but that is not an easy stop like a car, can switch off and off within a seconds.. Back where I was, as an oil & Gas workers, I understand what the process it may takes, the producers, and hard tough work. The daily operation of drilling can not shut down fast, it takes times, or the machinery will broken or worst will exploded.
Back to the trades, We've forecast the price will continue to plunge this week. Set tight with your trailing stops, and renew trades if where is needed.
This is just a forecast trade and educational only. Please take serious, that profit or loss is at your own.
If you find this is helping you, please like, follow and comment if you have different ideas.
Oil Futures: $35 Target (Huge Coronavirus Investment Potential) Basic economics is the supply and demand curve. The United States is at war with other countries for catching up on oil supply, so the constant need for production even during pandemic times leads to a surplus. The demand curve for oil though is at one of its lowest, given we need to literally all stay home. This leads me to believe that the huge price crash was time related, and extremely indicative of a panic sale. Take what I am saying as an opinion and not face value (as always), but my advice is that there is huge potential for a positive correlation wave or bullish price increases after the demand curve stabilizes. This could be a week or two, or maybe even few month, but this is an extremely short futures trading strategy given you could conservatively potentially see a doubling in the futures price with medium risk. Again, just a hypothetical, but I would keep a close watch on oil futures and indexes. Please don't take what I say seriously or sound i.e. hypothetical risk disclosure, but this gives you something to think about.
Expect Oil To Fall Sharply For June ContractsHi traders.
It is very unlikely that oil supply and demand will change in the short term. There appears to be no apparent supply cuts in order to support the oil price. Buying volume also appears weak in the short run. Only rising tensions with Iran could possibly cause USOIL to push higher. As a result, as the global lock down will not halt suddenly resulting in back to normal economic activity, I would expect to see sharp oil selling as the contract comes to a close.
Like & drop a follow if you agree!
Note: DO NOT FOLLOW THIS TRADE BLINDLY!
USOILI see a quick buy to sell on oil to about 15 then back down to 10 and some consolidation in that zone...let me know what you see
OIL FUTURES, STORAGE and STRATEGIC PETROLEUM RESERVEFuture prices may be related to the fulfillment of the contract associated to them. In the case of Oil, the Future Contract Specs for WTI can be found here (www.cmegroup.com). So upon the contract Expiration (Last Trade date that can be found here: www.cmegroup.com), you will have to receive the Oil Barrels (1000 per Future purchased as per this contract in this case). This requires storage capacity, and given the current Covid scenario, this has been compromised (read more about this here: www.nytimes.com).
It seems that given that the price of the futures are negative, it means that sellers are willing to PAY buyers to take the asset from them... so this might mean that it is cheaper for them to have someone take the oil from them and take care of the storage, than having to do it themselves (having to store more than they can, or even drop production to be able to prevent more supply from compromising current storage capacity and the costs associated with it).
I think that Governments and other entities with high storage capacities might stand to benefit from this. They can get paid to take the oil from these suppliers, while also increasing their Oil reserves. In the case of the US, for example, the US has the Strategic Petroleum Reserve (en.wikipedia.org(United_States)), read more here (www.spr.doe.gov). If they acquire the oil barrels now, when things normalize, they will be at an advantage with higher volume supply than others, to sell. They will be able to regulate the Oil market and other markets that depend on it.
Will be looking into it as it evolves. Thoughts?
CLN2020: Gap RetestThe July delivery contract is seemingly in a decent spot for buyers. Having retested the bullish structural gap area, oil is now trading at a price where many players are waiting for it choose the direction, which will ultimately accelerate the consequent move as players book profits/losses. This can be interpreted as having greater control of risk, as a $1.5K risk is enough to "know" whether one is wrong being bullish here.
OIL FUTURES MAY 2020May futures on oil collapsed to the minus.
It is oil that at the moment reflects the tragic situation in the world economy.
At a glance, all this is just dials on the charts, but now many parts of the puzzle can be put together.
At the moment there is no room left for oil storage, all the storages and tankers are overflowing,
and the shales can't just stop production, or the pressure in their wells will drop drastically,
and they'll just lose the well. But even if the well survives, the companies have to somehow pay their debts on loans,
that they got from the Fed's low interest rate. It turns out that the oil sellers now have to pay the buyers to take the oil.
It's like paying garbage trucks to pick up your trash,
only instead of crack, you give them real oil that killed millions of people, by the way.
June contracts are still traded around $21 a barrel, but there's still a month before the contracts are expired,
and if the pandemic continues to paralyse the world economy, no one will need that oil either,
and maybe oil sellers will have to pay even more buyers to get physical oil.
On the face of the imbalance between supply and demand, and the market price as if hints that production should be stopped or something drastically changed...
If you remember, the whole situation with the fall in oil began with Coronovirus, namely on January 8th (the price was $65 at that time).
The first talks started about the virus, quarantine the whole of China, one of the main oil importers, and a possible transport blockade of the whole world in principle.
Naturally, when everything is worth it and there is no need in oil. Then the Saudits did not agree with Russia and decided not to stop the production.
The whole world economy started to fall, but if, for example, the Fed can print money and pump the entire stock market through its bank tentacles,
then the printing press can't get to the oil rig yet. Oil is still a game bigger than local stock indices.
Here the interests of many countries and the powers of the Fed do not apply to them.
The only thing you can do is write off the debts and bankruptcies of the American oil shale industry.
Which conclusion is that?! In my past positions, a lot of people must have realized that I'm skeptical about this pandemic.
Whether it's real or not to the virologists, but the fact is,
which field of action Coronovirus opens for economic and financial fraud concerns us all.
Perhaps one of the main motives of the Coronovirus Flash mob is the deliberate collapse of all Petrodollar (petrodollar).
Who would benefit from this? Russia, China, Iran, maybe the States themselves, maybe the central banks?!
Suddenly the central banks decided to make a complete monetary retreat for the Coronovirus and replace dollars with new crypto-dollar or some Fed coins?
Didn't you think that Bitcoin was just a trial run of the crypto currency on a blockhead? And as soon as the Fed and the central banks launch the new crypto-money,
what happens to "our" crypt and Bitcoin? It's all about getting the cache completely out of our lives.
Paper money limits the control of banks, while electronic money will give them full access to your life.
WTI CRUDE LEADING INDICATOR FOR GAS PRICES!Quite scary times ahead, pay attention & be MINIMALISTIC if you want to end up ahead!
The people with the largest cash reserves at the end of this crisis will be the next generation of millionaires. Who knows? Maybe by then a million dollars won't be anything.
ITS OFFICIAL - CRISIS STARTED! OIL ATLHello guys,
As we can see we had a really big drop at 2008 when the crisis hit us, now this time is even harder as we touch the LOWER levels of oil price from the history.
Be careful with your purchases now, market downtrend will start soon and markets will hit bigger lowers again.
Thanks.
Regards,
Oil Bloody scytheMy scythe formation
Weekly timeframe
I will use the results of this scythe to determine the nature of the pattern
Oil - Rebout about to begin to $32.US Crude Oil prices slip to a 21 year low. After a huge correction for oil, we think that there is a big bounce up coming in.
Economy will restart and oil demand will be huge in the beginning.
First price target: $32.
