crud oil As we can see, the price has reacted well to the lines above and below the channel. If the short-term downtrend line breaks, the price movement towards the middle and upper line of the channel will not be out of the question
Oilprice
Analyzing RECAF and USOIL Recently, USOIL and RECAF have both taken a tumble. Named "The Hottest Oil Play in Decades," we surely have more to see from RECAF in 2021 and 2022.
As you can see, USOIL's candlestick progression is clearly notated by the dark grey line displaying price action on the front.
Experts predict USOIL to bottom around $55-60 USD. After that, experts predict OIL to stabilize around $65-80 USD levels. The ultimate top predicted is $100. This would lead to gas prices around $4/gallon for your Suburu's fill up. At around $2.50, we still have plenty of room to run. However, Biden's administration has asked for lower gas prices for now, as the economy continues to recover from COVID. Will the Oil Barons be able to produce more oil to lower gas prices, or will we see gas prices once again rising up? I wouldn't put it out the question.
ACTION PLAN:
Currently, RECAF is still in a bear pattern, though we still a slight uptick today as price actions grapples for the last few bites of the bear.
1. Can RECAF's stock price go down to the most favorable price target for longs, $1.80-3.50 USD? Formidable support levels lie here, protecting it from falling lower.
2. Or will we remain in a bottoming formation pattern around $4.75-5.25 USD? The median price is $6.20 USD and that may be met sooner or later.
Overall long price target for long-term holders: $12.81 USD
Feel free to write your thoughts in the comments as well.
Going Long With OIl Took this chance to go long with oil !
risky move but i'm positive it will be worth it, risk with your own moves !
i'm not responsible, this just my opinion !
Support areas to enter the purchaseMost prominent areas to enter the oil long by performing an algorithmic sequence in the event that the last buying area breaks, the long entries will be lost. It is still too early for this statement but we must see how the price is drawn.
Short Vision on OIL for 10/08/2021Hello Dear Traders,
You find below my analysis for OIL which is near in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame OIL will fall to 66.8 as I am showing in my chart. Our Daily Goal is 66.5.
Currently, OIL is moving towards the resistance level of 68 ,where there is some liquidity from this value we are looking for short-term selling opportunities of OIL.
Good Luck and enjoy your Bearish Market for today.
Entry:@ 68
TP1: @67.6
TP2: @67.3
TP3: @66.8
SL : @68.5
As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment.
Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Breaking: The OPEC report is issuedOPEC monthly report was issued a few minutes ago, and the report was not positive for OPEC+ and the oil-producing countries within the group, led by Saudi Arabia. OPEC kept its forecast for oil demand in 2021 unchanged at an increase of 6 million barrels per day, bringing the average to 96.6 million barrels per day, and also kept its forecast for the growth of oil demands in 2022 by 3.3 million barrels per day, bringing the average production to 99.86 million barrels per day.
While OPEC+ raised its expectations for an increase in the production of oil-producing countries outside the group by 840 thousand barrels per day, to reach an increase of 2.9 million barrels per day, with a total average of 66.9 million barrels per day in 2022.
It also raised its forecast for the production growth of oil-producing countries outside the group in 2021 by 270,000 barrels per day to reach 1.1 million barrels per day, with a total average of 64 million barrels per day.
USOIL .. Is it going to hit 80$ ?There is Double bottom pattern
This is my simple idea for USDCAD 4H time frame
I hope it is useful :)
Note 1 : It may take one or 2 weeks
Note 2 : DON'T FORGOT, STOPLOSS IS YOUR FRIEND :)
Best regards :)
Oil bullish projection !!We continue to search for oil longs to a new high and then look for sell zones. Not a lot of purchase volume!
OIL TRADE IDEAIn the case of oil, I'm looking for a breakout double bottom lvl... if that happens, we could be headed towards the 0.23 fibonacci level...
Short Vision on OIL for 04/08/2021Hello Dear Traders,
You find below my analysis for OIL, which is near the buy zone. I expect the price to rise. According to my set of rules, in the M30 frame OIL will rise to 70. Our Weekly Goal is 71.3. So we are looking for a pullback to repeat what we have marked up and executed over the last few days, demand is still there. Simply looking to buy the dips effectively, the bullish trend still here since April 2020.
Currently, OIL is moving towards the support level of 68.3 where there is some liquidity, from this value we are looking for short-term buying opportunities of OIL.
Good Luck and enjoy your Bullish Market for today.
Entry:@68.25
TP1: @68.6
TP2: @68.9
TP3: @69.3
SL : @67.8
As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment.
Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Has Oil's uptrend come to an end?My short answer is no. Oil hasn't peaked yet in my opinion, although in the short term it might chop between 63-77$ before a big breakout. As OPEC+ has decided to increase production, we might slowly see the effects of that + there are some general deflationary pressures like new Covid strains and endless lockdowns that might push oil lower in the short term.
However in my opinion due to the ESG movement and the climate change proponents in general, the underinvestment in oil + forced production cuts due to protests might limit supply so much that if demand slowly increases the price of oil could skyrocket.
Technically Oil is still in an uptrend and its more than a decade long bear market has come to an end. Speculators were flushed out but oil has manage to hit some key levels which if broken might attract more speculative capital in the market. Above 77$, 90$ is a very easy target and we could see it go even to 100$+. In the short term if there is a panic across all markets and we get a strong dip everywhere, I think oil could get to 42-55$, which in my opinion would be an incredible opportunity.
Oil around 50$ is ok for allowing for more global growth, but it is also signaling slow growth. Low oil prices could translate in lower bond yields which would mean deflation which would allow the status quo to remain.
very simple analysis but effectiveSimply follow the prices with this analysis
If the price manages to cross the upper trend line, it will go to new highs
If the price manages to cross the lower trend line, it will go to the support shown in the graph
CLV2021: Spottin' a short in lower TFsThis one looks like it is coming at us.., it's good to be anticipative in these things. If it works out, you not only win some but also boost your ego.
potential rise on oil for next week to to weeksi expect that oil will rise to retest the resistance , which mean a rise until the 78 dollars level.
Long Vision on OIL for july and augustHello Dear Traders,
We can see the crush that happens this week for oil prices is due to the disagreement in the OPEC meeting for August production over the oil production where UAE want to increase the oil production and the market disruptions due to the coronavirus number of cases in the UK, Singapore...
Maybe, OPEC + tomorrow's Meeting will give some good news about oil production.
You find in this video my analysis for OIL, which is near the buy zone. I expect the price to rise more and more till the end of the year where we can touch 90$. According to my set of rules, in the H4 frame OIL will rise to 72 . Our Weekly Goal is 73.3. So we are looking for a pullback to repeat what we have marked up and executed over the last few days, demand is still there. Simply looking to buy the dips effectively, the bullish trend still here since April 2020.
Currently, OIL is moving towards the support level of 66.5 from this value we are looking for short-term buying opportunities of OIL.
Good Luck and enjoy your Bullish Market.
Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Long Vision on OIL for 19/07/2021Hello Dear Traders,
You find below my analysis for OIL, which is near the buy zone. I expect the price to rise. According to my set of rules, in the H4 frame the price of OIL will rise to 72 . Our Weekly Goal is 73.3. So we are looking for a pullback to repeat what we have marked up and executed over the last few days, demand is still there. Simply looking to buy the dips effectively, the bullish trend still here since April 2020.
Currently, OIL is moving towards the support level of 69.5 where there is some liquidity, from this value we are looking for short-term buying opportunities of OIL.
Good Luck and enjoy your Bullish Market for today.
Entry:@69.8
TP1: @70.5
TP2: @71
TP3: @72
SL : @69
As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment.
Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
USO: TurmOIL!🪔🪔🪔The discussions at the tables at the OPEC+ conference do not end, and it shows. We expect the course to drop for quite a bit now. In total, the correction should end somewhere between $41.29 and $39.27, before new bullish runs set in. Once that happens, prices above $59.35 will be targeted.
Let’s go Bears!
+50% profit on $OIL and yet, OIL to the moon $150 !textbook pattern on $OIL ascending triangle with targets $80,$100 then $120 .
I'm long on $OIL since it was $40 .I expect another strong wave that could start any day .
CRUDE OIL - 73,54 Is Now ResistanceOur updated chart on WTI CRUDE OIL shows that the corerctyion is probably incomplete and the oirce under it's previous support/ now Resistance at 73.54
According to Reuters , Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled.
In the meantime, U.S. energy firms added oil and natural gas rigs for a second week in a row as oil prices recently rose to their highest since Oct. 2018, prompting some drillers to return to the well pad. Clearly the intention of the US is to control prices, with CPI tomorrow going to be crucial data for what happens next with the US dollar.
On the other hand, last week, the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, failed to reach an agreement to increase output from August while Saudi Arabia , the world's top crude oil exporter, will supply full contractual volumes of August-loading crude to at least five Asian countries but has turned down two of the buyers' requests for extra barrels....
In other words, the price is expected to keep being volatile but our charts suggest a short position unless it breaches over this crucial new resistance (73,54$).
the FXPROFESSOR
Long Vision on OILHello Dear Traders,
As we analyze Friday, the oil price is rushing upwards strongly to breach 73.30 level and is trying to stabilize above it, which requires attention from the upcoming trading, as confirming the breach will stop the bearish corrective scenario and lead the price to restore the main bullish trend again.
Therefore, we prefer staying aside until the price confirms its position relative to the level of 73.30, then we will look for buying opportunities as the rebound was strong and the recent selloff could be over.
KR
