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Oilfutures

Oil setting up at a break higher? Hi trading view community, hopefully, a great weekend was had by all. Looking at oil on the 4H chart today, we see a few signs that buyers are trying to get the trend going again. First, we can see that 108.49 resistance has started to become support. Price continues to consolidate, but that consolidation continues to form an ascending triangle pattern. (AT patterns in uptrends can be a sign that buyers could resume the trend if they can confirm a breakout) Lastly, the lowest on our list is that the CCI has moved back above the 0 line. When the CCI is above the 0 line this can indicate that price is in a bullish zone. From here, we would like to see buyers prove they hold momentum with a break of the pattern. If we do see a confirmation and a new leg higher, we will be watching to see if 116 comes back in as resistance. Failure to break the ascending triangle pattern and or a move back below 108.49 would start us to question buyer strength. Good trading.
NYMEX:CL1!Long
by Eightcap
Gap Fill or Sky rocket? Crude Oil FuturesSo as we know Crude has been pumping passed few months especially last few weeks. Ever since gapping up to 130 about 2 weeks ago we created a head and than A right shoulder and fell down. We do have a gap need to be filled highlighted below. Especially if the rest of the Indices like SP500 and Nasdaq push up Lets see! I had 107p and 105.5 contracts i closed out right around 100. wish i had held. :( Anyways Hoping to go back bullish and go back towards 130 again!
NYMEX:CL1!
by ArmaanOG
BCO LONG OIL WTI LONGOil Price forecast for March 2022. In the beginning price at 107.02 Dollars. High price 139.13, low 90.50. The average for the month 107.13. The Oil Price forecast at the end of the month 91.88, change for March -14.1%. Brent oil price forecast for April 2022. In the beginning price at 91.88 Dollars. High price 91.88, low 84.91. The average for the month 88.72. The Oil Price forecast at the end of the month 86.20, change for April -6.2%. Oil Price forecast for May 2022. In the beginning price at 86.20 Dollars. High price 92.91, low 86.20. The average for the month 89.21. The Oil Price forecast at the end of the month 91.54, change for May 6.2%. Brent oil price forecast for June 2022. In the beginning price at 91.54 Dollars. High price 98.68, low 91.54. The average for the month 94.75. The Oil Price forecast at the end of the month 97.22, change for June 6.2%. Oil Price forecast for July 2022. In the beginning price at 97.22 Dollars. High price 104.80, low 97.22. The average for the month 100.62. The Oil Price forecast at the end of the month 103.25, change for July 6.2%. Why Oil Crashed Back Below $100 After a torrid three-week rally, energy markets have entered correction mode, with prices moving sharply lower. Over the past week, Brent has slipped 30% from the 7 March intra-day high while European gas prices have declined 65%. Brent for May delivery settled at USD 106.90 per barrel (bbl) on 14 March, a w/w fall of USD 16.31/bbl, and moved below USD 100/bbl in early trading on 15 March. WTI for April delivery fell USD 16.31/bbl w/w to USD 106.90/bbl at settlement on 14 March, while the value of the OPEC basket fell by USD 15.84/bbl to USD 110.67/bl and by EUR 15.40/bbl to EUR 101.16/bbl. You can blame speculative overshoot for the unfolding scenario though the overall outlook remains bullish. According to Standard Chartered commodity analysts, the correction tells us more about market positioning and the effect of extreme volatility than it does about changes in fundamentals over the past week. The increase in volatility across financial and commodity markets has led to a sharp rise in the level of risk held by traders, and an associated incentive to close out some positions to lower the risk. Oil traders have mostly been positioned with a highly bullish bias in terms of both outright positions and spreads in recent weeks, meaning optimization in a higher-risk environment has mostly involved closing out prompt longs. With speculative shorts being very thin on the ground currently, there have been few natural buyers, and the downside has quickly opened up. While the price ranges involved have been rather extreme, recent price dynamics bear all the hallmarks of a textbook speculative overshoot followed by the correction necessary to reset extreme positioning. The irony of the situation is that the dominance among oil traders of the belief that prices could only move higher has led to a position from which market dynamics dictated that in the short term, prices could only go lower. Replacing Russian Oil Despite the positioning-led price fall, StanChart says that the key fundamentals are largely unchanged and are also subject to an unusually high level of uncertainty. According to commodity analysts at Standard Chartered, Russian oil flows to Europe can be replaced in the short term, with the short-term price implications of that displacement potentially capable of being minimized by the extent to which OPEC members increase output beyond their current OPEC+ targets, and also by the possibility of a successful conclusion to talks in Vienna that results in higher volumes of Iranian exports. The analysts have projected that consumer reluctance to buy from Russia coupled with shortages of capital, equipment, and technology will continue to depress Russian output over at least the next three years. Russian output is expected to fall by 1.612 million barrels per day (mb/d) y/y in 2022, and by a further 0.217mb/d in 2023, with the y/y decline peaking at 2.306mb/d in Q2-2022. To avoid significant upside price pressure, StanChart reckons that the market would require around 2mb/d extra supply for the remainder of 2022, and an additional 2mb/d in Q2 to ease the dislocations caused by the displacement of Russian oil. The temporary 2mb/d Q2 boost could come from strategic reserves, but the 2mb/d additional flow for the remainder of 2022 would likely need to come from OPEC sources (including potentially Iran). Market tightness is, however, being helped by the fact that withdrawal from Russian markets has been less dramatic than anticipated. So far, there are indications that some of the larger EU countries are less keen than countries in the east of the EU to pursue the fastest possible reduction in Russian oil flows. Outside of the EU, the UK’s ban on the import of Russian oil has proved less dramatic than the headlines that accompanied the initial announcement, as it does not take effect until the end of 2022. In the private sector, while several companies have given assurances they will buy no more Russian oil on the spot market, there have been very few indications given about if, when, and how they will cut the volume of Russian oil purchased through their term contracts. Meanwhile, statements from some governments and some companies do appear to have become less hawkish over the past week, with an apparent lengthening of the timespan envisaged for the process of reducing dependence. StanChart says that Russian oil trade into Europe appears to be moving further into the shadows of term contracts and a greater reliance on third-party trading intermediaries. That does not make trading with Russia any less distasteful for European public opinion, but it does make the trade less visible and thus likely keeps oil flows from Russia higher than they would have been with more direct government targeting of those flows.
OANDA:BCOUSDLong
by DaveBrascoFX
CRUDE OIL, Paramount Breakouts + Growing Demand Means Bullish!Hello, Welcome to this analysis about WTI CRUDE OIL and the monthly timeframe perspectives. Since the Russia-Ukraine-Conflict began we can see many countries upfront with the E.U. sanctioning Russia and preventing Oil exports out of Russia, cutting off all supply chains including oil. These developments mean there is a growing demand for oil and gas on the world market because Russia normally holds 12% of the whole world's oil and gas exports and therefore countries need to move to other sources of oil and gas and as countries, especially in the E.U. have normally almost 40% of their oil and gas imported from Russia there is also a falling supply combined with growing demand on the world market showing the fuel for the steep rising in prices we have seen so far in the recent times. In my chart, you can watch how WTI CRUDE OIL already completed this massive descending-triangle-formation, and now recently with these developments also moved with heavy volatility above the major 10-Year-Resistance marking in my chart. All these developments point to a continuation of the bullish volatility that was established over the recent days, also the main descending-triangle-target-zone marked in my chart has an increased likelihood to be reached with the current dynamics. In this manner, thank you for watching the analysis, all the best! Information provided is only educational and should not be used to take action in the markets.
TVC:USOIL
by VincePrince
10
CLH H4 | Potential for bullish continuation!Type : Bullish continuation Resistance : 101.2 Pivot: 91.06 Support : 1904.5 Preferred case: Prices have been on bullish momentum. We see the potential for further bullish consolidation from our Pivot at 91.06 in line with 50% Fibonacci retracement towards our 1st resistance at 101.2 in line with 200% Fibonacci Projection and 200% Fibonacci expansion . Our bullish bias is further supported prices trading above our ichimoku cloud support. Alternative scenario: If prices were to reverse, they can potentially dip towards our 1st support at 1904.5 which is a graphical overlap support and in line with 78.6% Fibonacci retracement . Fundamentals: The invasion of Ukraine by Russian forces has and will continue to keep oil prices elevated amid overarching supply constraints.
NYMEX:CLJ2022Long
by Genesiv
CLH2022 Potential for Bullish continuationTitle : GC1! H4 | Potential for bullish continuation! Type : Bullish continuation Resistance : 101.2 Pivot: 91.06 Support : 1904.5 Preferred case: Prices have been on bullish momentum. We see the potential for further bullish consolidation from our Pivot at 91.06 in line with 50% Fibonacci retracement towards our 1st resistance at 101.2 in line with 200% Fibonacci Projection and 200% Fibonacci expansion. Our bullish bias is further supported prices trading above our ichimoku cloud support. Alternative scenario: If prices were to reverse, they can potentially dip towards our 1st support at 1904.5 which is a graphical overlap support and in line with 78.6% Fibonacci retracement. Fundamentals: The invasion of Ukraine by Russian forces has and will continue to keep oil prices elevated amid overarching supply constraints.
NYMEX:CLJ2022Long
by Genesiv
#Oil - Is shorting this market wise?As the oil market continues to rise, there are clear intentions from a number of market analysts to short the Oil market. Keeping an eye on the current futures expiries for WTI Oil there are strong indications that buyers are easing off, while sellers are coming in strong. While Geopolitical issues could change and of course change the direction of the market, this has not happened. Let's focus on what we know! there is an overall decrease in the open interest across the market, while the price continues to rise. This is indicating that there is divergence in the interest in this trend, and we should be on high alert that the uptrend is aggressively slowing down. But, with all this information we still can't change the overall focus that there is a global increase in oil prices and the market has not indicated a turn. Summary: the current balance area is just below $90, and until we see a new balance area created or a drop below $90 we still need to go with what is obvious. If you want to talk more about trading/analysing the markets check out our Tradingview profile or send a message via the Tradingview chat feature. "Trend is your friend UNTIL IT BENDS" Happy Trading Ionic Capital - Little Big Movement
FX_IDC:USDWTILong
by Little_Big_Movement
1
Oil Update and news 17/1/2022Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ Oil prices surged on Monday, with Brent futures reaching their highest level in more than three years, as investors anticipated supply will remain tight due to limited output by major producers and unaffected global demand by the Omicron coronavirus variety. Brent crude futures rose 40 cents, or 0.5%, to $86.46 a barrel. Earlier in the session, the contract reached a high of $86.71 for the first time since Oct. 3, 2018. Daily Support & Resistance points for Brent : support Resistance 1) 86.46 1) 86.83 2) 86.26 2) 87.00 3) 86.09 3) 87.20 West Texas Intermediate crude in the United States was up 58 cents, or 0.7 percent, at $84.40 a barrel after reaching $84.78, the highest since Nov. 10, 2021, earlier in the day. Daily Support & Resistance points for WTI : support Resistance 1) 84.31 1) 84.59 2) 84.15 2) 84.71 3) 84.03 3) 84.87 The gains came on the heels of a rally last week in which Brent rose more than 5% and WTI rose more than 6%. The Organization of Petroleum Exporting Countries, Russia, and their allies, known collectively as OPEC+, are progressively lifting output cuts imposed when demand dropped in 2020. However, many smaller producers are unable to increase output, and others are hesitant of pumping too much oil in case of further COVID-19 difficulties. Two US officials and two industry sources told Reuters on Friday that the US administration has held talks with numerous multinational energy corporations about contingency plans for exporting natural gas to Europe if Russia-Ukraine violence damages Russian supplies. Meanwhile, crude oil inventories in the United States declined more than predicted to their lowest level since October 2018, but gasoline inventories increased due to sluggish demand, according to the Energy Information Administration on Wednesday. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
TVC:USOIL
by GabiDahduh
Oil is headed towards 85 levelOil is headed towards 85 level. Many analysts are predicting lower oil demand due to Omnicron variant but the impact is yet to be seen. We cannot expect the price crash similar to 2020 because there were no vaccines at that time and complete lock downs are very unlikely. Hence, do not wait to see the negative oil prices ;-) We use Aspen Trading Support & Resistance Levels to risk manage our positions. These levels are invite only and can be accessed through url in my profile information. Disclaimer: This analysis is for information purpose only and does not constitute any investment advice.
FX:USOILLong
by tradingswift
1
Oil Update for 3/1/2022Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ Oil prices rose on Monday as the market began 2022 on a bullish note, with suppliers in the spotlight ahead of Tuesday's OPEC+ meeting, but rising COVID-19 cases dampening demand optimism. Brent crude was up 59 cents, or 0.76 %, to $78.37 per barrel. West Texas Intermediate oil futures in the United States rose 63 cents, or 0.84 %, to $75.84 per barrel. "Tightened Libyan supply ahead of an Organization of Petroleum Exporting Countries and Allies (OPEC+) meeting maintained market sentiments upbeat," said Abhishek Chauhan, head of commodities at Swastika Investmart Ltd. Libya's official oil company announced on Saturday that owing to maintenance on a critical pipeline connecting the Samah and Dahra fields, the country's oil output would be reduced by 200,000 barrels per day for a week. Meanwhile, four sources predict that OPEC+ will maintain to its plan of adding 400,000 barrels per day of supply in February. Oil prices surged about 50% last year, fueled by the global economic rebound from the COVID-19 pandemic depression and production restraint, even as infections hit all-time highs around the world. US crude is expected to average $71.38 a barrel in 2022, up from $73.31 in the previous month's consensus. Oil and natural gas rigs were installed in the United States for the 17th month in a row, as rising prices enticed some drillers back to the wellpad following last year's coronavirus-driven decrease in demand. As shown in a monthly report released on Thursday by the Energy Information Administration, U.S. crude oil production increased to 11.47 million barrels per day in October, up 6% from the previous month, as output climbed in the Gulf of Mexico as the region recovered from storms. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
TVC:USOIL
by GabiDahduh
Oil is headed down in 60s rangePrices of oil have a direct impact on the inflation. The higher oil prices have started impacting the consumers across the globe. We have used Aspen Trading Support & Resistance Levels to analyse the oil prices trend. It has clearly broken down the short-term support levels at 77.75 and most probably could lead to further down side. As the the oil production ramps up, the oil prices could stabilise at the pre-covid levels in the range of 60s. Note - Aspen Trading S/R levels are invite only. They can be accessed through my profile information. Disclaimer: This analysis is for information purpose only and does not constitute any investment advice.
FX:USOILShort
by tradingswift
#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