CRUDE OIL - SHORT SCALP TRADEI will Short Crude Oil , this area look like distribution so in the next moment we can see a downtrend continuation
Oilprice
After the oil is completed to fill the gap,can we go long on oilBecause of the impact of the banking crisis and the U.S. debt ceiling issue, the risk that the economy may fall into recession has been exacerbated, and U.S. data show that consumer confidence is insufficient, which is a very big blow to the demand for crude oil, causing crude oil to plummet in the short term and completely make up for the technical gap. Can crude oil be bought with confidence?
In fact, according to the structure of crude oil, crude oil fell sharply and fell below the flag finishing structure, which laid the foundation for the short trend of crude oil, and there is currently no signal to stop the decline completely, so there is room for crude oil to go further down.
However, from the point of view of the short-term structure, crude oil fell below the flag-shaped finishing structure for the first time, and completely filled the technical gap in one fell swoop. In the case of a short-term plunge in crude oil, there is a need for technical upward repair.And there is 50% support for Fibonacci below the short-term line, so for the first time in this position, you can try to long crude oil in the short-term.
In trading today, the trading signals I announced on the channel for shorting gold around 1999-2000 and 2006 all reached the take-profit target of 1995. The trading signals in the last two weeks have achieved a comprehensive victory, and the result of 0 losses is enough for us to reap satisfactory profits.In trading, whether it is gold or crude oil, I have the ability to satisfy your desire to make money. I have announced detailed trading signals about crude oil in the channel. Please pay attention to the trading signals in the channel.
OIL BUYHey, the oil market has reached an important area as you can see in the analysis. There is a high probability of an uptrend with a retest of the descending channel. good luck for everbody .Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
4/25 Crude oil trading signal: Sell
The pattern of crude oil is similar to a double top, with resistance levels near 78.8-79.2, so a short signal was given before the market today. Now the trend is still in a short form. The rebound is a short opportunity. If you can't grasp the timing well, you can find me
Long term downtrend Breakout trade 88e eeenfWe revisit 88E once again and can we reach our previous 10x on investment once again? If we break our multiyear downtrend line again we could be looking to big breakout. initial targets we would be looking at would be around
tp 1 = 1.1
tp 2 = 2.5
tp 3 = 5
News is due in coming weeks and depending on results we could surpass our TP3 targets if 88E hits a new oil discovery.
WTI OIL 24-28 April 2023Still maintaining my previous technical analysis on WTI OIL, the gap was reached last week and might play on sideways prior to make major move. Bearish momentum is still strong when checking the Heikin Ashi, indicators are pointing down,NO sign of Bull movement, I might play the level from 76.00- 81.00 level (my Buying and Selling).
Brent Crude Oil Swing TradeThe price of Brent Crude Oil has fallen and tested the previous support level (Blue Line) outlined in the previous newsletter. Currently, we could see a potential swing back upwards. If the price breaks the support level, we could see a fall in price. However, I see the former as the more likely scenario, as the 0.5 Fibonacci level (Green Line) is also below the trendline - providing further support.
This support is further backed by the Stochastic RSI and MACD indicator coming to show potential buy signals.
To see why I chose these support and Resistance Levels see my linked idea below.
Weekly Price Projection for Brent Crude Oil W/C 17th April 2023Price Range Projection:
Weekly High: ~ $86.58
Weekly Low: ~ $82.818
In the chart above, you can see the price on the 3-hour timescale, along with a fixed range volume profile.
Weekly High Projection
The fixed range volume profile (the horizontal histogram) is an indicator that can be used to show resistance and support levels. The red horizontal line in the close-up chart above indicates the point of control, which is the price level that had the most volume. As you can see, the price stalled around this point. This is where I see the weekly high.
Weekly Low Projection
I have placed the weekly low at a previous support level, which was formed from a chart pattern that had a breakout more than a month ago. This is shown with the two blue trendlines.
Oil is about to experience an uptrend
Oil experienced a sharp decline again today, and the EIA data was also unfavorable to oil. Currently, the oil price is close to the support level of 65-63. If this area is breached, the oil price will face the risk of falling to around $50.
As far as the current market situation is concerned, I think this probability is not high. Although we cannot completely rule out this risk, from a technical perspective, if the oil price continues to decline, it will become oversold, and there will be a short-term rebound demand. Therefore, in the trading process, I lean towards going long at lower levels.
If you have enough margin for oil, you can start a small long position now, and take profit at above 70 upon rebound.
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Oil is Ranging. So Where Will it break? Oil has been in a range towards the end of last year and price is fighting against pushing below the 75 lvl and staying below it. It makes sense as the news is mixed because there are positive and negative news for Oil. Check out the following:
Positives for Oil:
-China economy recovering and demand increasing
-Russia plans to cut Oil exports by 25% and cut oil production by 500,000 barrels
-EU ban on Russian Oil
-OPEC maintaining production cuts
-JP Morgan looking at $90 a barrel for Oil in the middle of the year
Negatives for Oil:
-to the FED increasing rates for the next three meetings
-a possible global recession as majority of the G7 nations increase rates
So, what will win out? The negatives or the positives. I am thinking Oil will be able to push higher in the short term (next few months) and eventually fall as interest rates push higher and higher. If inflation does not drop as fast the FED wants, it will need to crank up the the heat on inflation, by doing it through interest rates. In 2025, I think Oil is going to push back up to $100, maybe higher and if this does happen, it would be good if I am still in the GBP/CAD as price would likely be around 1.45. On a side note, there is a big push to renewable energies and electric vehicles, but this requires a lot of resources to produce on a massive scales and in the interim Oil will be needed. If this massive push does happen, in the beginning, Oil will increase exponentially until renewables take over. In the next couple years, lets see if I am correct:
-price by the end of the year $80
-price in the beginning of 2024 (first 6 months) $70 - $80 and end of 2024 (last 6 months) $95
-price in 2025 $100+ (I keep thinking production is going to go off the rails with what's going to come out and the new technology)
Oil Gap - A Game Changer for its PricesGap means a runaway in prices or a confirmation of a clean break away from its downtrend line. (Technical)
OPEC-Plus made a surprise announcement to reduce oil production starting May. Unlike OPEC, OPEC-Plus involve many more countries. This signals a synchronise effort to boost crude oil prices. Expect a much higher oil prices to come. (Fundamental)
My recent crude oil videos:
• Crude Oil Outlook - USD106 as major resistance
• Why Crude Oil is Trending Higher Again, Breaking Above US$100
• Correlation - Crude Oil & CPI
• Crude oil a leading inflation indicator
See its link below.
3 types of crude oil for trading:
• Crude Oil Futures
0.01 per barrel = $10.00
Code: CL
• E-mini Crude Oil Futures
0.025 per barrel = $12.50
Code QM
• Micro WTI Crude Oil
0.01 per barrel = $1.00
Code MCL
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
Correlation between USD-KZT with oilHey traders and investors! Just curious anyone ever thought if there is any correlation between the USDKZT rate with oil prices or indices? Looking at other petrocurruncies I am flabbergasted how the USD-KZT can have its own trend and story to stride up and down when there is no reason for that. Have you suspected there is an interference of the clumsy state hand in manipulation of rates?
OIL supply cut price effect 2023OIL ---IMPORTANT UPDATE
Good morning everyone, here with an important update on OIL
I have been charting and using the chart below as reference since Wave #2. I was hoping we could drop more but a turn of events has occurred on the past days with the world as we all know. Its all a mess and we got to figure out how the world is going to run now.
However, as of yesterday, a game changer piece of news just dropped with talks about cutting oil production output until end of 2023.
How will this affect the economy?
-Cutting supply means shortage. Shortage means scarcity and we all know resources up in value when they are scarce. While cutting supply can lead to a shortage and eventually scarcity, the impact on a resource's value is not always straightforward. Scarcity can drive up the value of a resource in some cases due to increased demand and limited availability. However, in other cases, scarcity can lead to decreased demand as consumers may seek alternative resources or solutions. Therefore, it is important to consider the specific factors involved in determining the impact of supply, shortage, and scarcity on the value of resources.
If Saudi Arabia, along with other countries, agreed to cut oil production until the end of the year, it could have several effects on the oil market, including:
1-Increase in oil prices: By reducing the supply of oil in the market, the demand for oil could exceed the available supply, which could cause oil prices to increase.
2-Increase in demand for alternative energy sources: As oil prices rise, consumers may begin to seek alternative energy sources, such as natural gas, solar, or wind power, which could reduce demand for oil.
3-Impact on global economic growth: Higher oil prices can lead to increased inflation and higher transportation costs, which can negatively affect global economic growth.
4-Geopolitical impact: Changes in oil production can also have a geopolitical impact, as oil-producing countries may have to renegotiate their trade relationships and alliances.
My opinion on what is going on:
US is dealing with banking crisis caused by growing inflation. Higher oils = increased inflation. A real recession is about to occur, however, the world believed it was going to affect globally and it is not going to be the case. Truth is, the only ones really experiencing a recession is the US as we are witnessing the death of the US DOLLAR.
media.discordapp.net
OPEC announced a production cut,how much upside is there for oilSaudi Arabia and other OPEC+ oil-producing countries announced further production cuts of about 1.16 million barrels per day on Sunday, which provided strong upward momentum for oil prices. They opened directly higher during the day and are currently slightly lower, trading near US
80.47.
Judging from the trend of crude oil, the high price this morning just touched the important pressure level at the top of the platform in the early stage, so there is demand for a technical decline in the short term.The current rebound of crude oil has exceeded expectations, and the structure has also undergone variables. If the pressure continues, we will first look at the phased replenishment action.
Short-term trading reference:
Try to sell crude oil in small batches near 80.5, with a take profit level of 79.4--79
In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Will oil prices continue to rise?The decline in U.S. crude oil inventories and the suspension of exports from the Kurdistan region of Iraq have supported the upward trend in oil prices, overshadowing the smaller-than-expected pressure on Russia's supply cuts.At the same time, five OPEC+ representatives said that the alliance may stick to the existing oil production reduction agreement at Monday's meeting.
On the technical side, WTI crude oil fluctuated and fell after the opening of the market, and slowly recovered after reaching a minimum of 73.74. The current price is trading near 74.7. Although crude oil is currently facing strong technical pressure, which has led to a small decline in the current situation, but the short-term upward structure has still not been effectively destroyed, so it can maintain a low bullish pattern in the short term.
Short-term trading reference:
1.Buy crude oil near the 73.7 position, stop loss level 73.3, take profit level 75.2
2.Try to sell crude oil in small batches near 75.3, with a stop loss level of 75.6 and a take profit level of 74.3
In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Crude Oil - Time for the crash get ready for $48 - #OIL_CRUDEHello Followers,
if you are in profit on crude oil
get your profits safe,
Time for the crash!!
Get ready for $48 #OIL_CRUDE
#CL # USOIL
Good Luck and Good Profit
MW
Can the oil price recovery last?Judging from the trend of crude oil, since crude oil rebounded above 74, the technical bullish signal has been significantly strengthened.However, although the current oil price has returned to the range of the box, on the whole, the current price has basically touched the vicinity of the pressure zone of the previous box shock.In addition, judging from the strength of the recent rebound, it has not been as strong, so the trend may face a certain level of adjustment in the short term, and there is a technical need to step back on the midline of the channel to confirm the demand.After the last wave of the 4-hour level trend rose, the price was temporarily.The narrow volatility that remains at a high level weakens the strength of the upper attack, so there may be a trend of spatial correction in the short term.
Short-term trading reference: Sell crude oil near the 74.3 position, stop loss level 74.7, take profit level 73.2
In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Rising oil prices are under pressure, so be careful of trapsAlthough the interruption of some exports from the Kurdistan region of Iraq has raised concerns about tighter supply, the United States is expected to start strategic reserve repurchases during the year, which will also benefit oil prices to promote a rebound in oil prices.However, because of the geopolitical situation between Russia and Ukraine, it is more the West that sanctions Russia, so it will not allow oil prices to rise sharply and have sufficient income, thus limiting the room for oil prices to rebound to a certain extent.
From the perspective of crude oil trends, since the surge on March 27, there has not been a decent pullback and repair, so crude oil technically needs at least a second pullback to prove the effectiveness of the oil price increase.
Short-term trading reference: sell crude oil near 74, stop loss level 74.4, take profit level 73.3
In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
SHORT OIL USD (WEEKLY TIMEFRAME)
Oil looks in correction phase after reaching the support demand zone at area 64 and currenting heading back up to the downtrend upper channel possibly at area 75.
Oil is still in its downtrend channel and possibly next target, if the support breaks, into next support and demand zone at area 50.
WTI DAILYWill we see Crude go back into the $100 only time will tell based on the analytical data it shows that market trends are off by a few dollars but we can only guess that it will have to stabilize once we get our reserves replenished and who knows when that will be...
Banking markets have alot of say when it comes to capex dollars being loaned out by producers.
WTI OIL i am sorry for the background noise i will take care of that from next time
let me know if you any dont understand the analyis.
OIL ROAD TO $50 , CHEAP OILHello everyone, I have been using this chart ever since wave 2 and have been shorting OIL since $110ish. Why? We all know oil is overpriced and it went up parabolically after having crashed to negative prices. I believe oil has much more to go down as the PetroDollar is dying. China,alongside BRICS members, have united forces to create the PETROyuan and will definitely yield a problem to the PETROdollar. Prices may even go lower than what I especulate but it does not take rocket science to believe what I know.
Some important facts about OIL we have to remember:
-Oil is one of the most important commodities in the world, used for transportation, heating, and electricity generation. It is a global market with prices affected by supply and demand, geopolitical events, and global economic conditions.
-The major players in the oil market used to be Russia and USA but its now China and mother Russia in an attempt to compete against the US economy.
-The price of oil is typically quoted in US dollars per barrel but that is now changing as oil rich countries are looking for new relationships with BRICS.
-Factors that can impact the price of oil include changes in production levels, geopolitical tensions, natural disasters, and global economic conditions.
-The oil market can be traded through futures contracts, exchange-traded funds (ETFs), and individual stocks of oil companies.
-When analyzing the oil market, it is important to consider both technical analysis (chart patterns, support and resistance levels, and indicators) and fundamental analysis (supply and demand factors, geopolitical risks, and economic data).
Have a nice day everyone!
