Crude possible trade we are seeing a lot of buy pressure coming into crude today, we had minor contact of our monthly zone and that was enough to send price shooting to the upside. but here at Gentleman Markets we understand that after a push there has to be an exhaustion, so we are going to wait for price to come back to an 1h hour of sensitivity then price action and entry confirmation for a trade to the upside
Oilprice
$BP Confirming $27 Support LevelBritish Petroleum $BP
Current Price $27.38 Price Target $32
$27c 10/15 ( $216, 6% till breakeven)
Good stock to own as we continue to see Oil move higher as we go into the summer driving season. If we get $75-$80 a barrel on oil BP’s earnings will benefit greatly.Under 10PE almost 5% dividend makes BP very attractive here. Now that we have confirmed $27 support level we should move up to the top line of resistance in current trading range to about $32.
CLM2022: A 1-year Forecast Further to the earlier idea, we are now seemingly approaching the final extension zone, and with another 15% increase, the odds for mean reversion become much better. The market seems to be in an exciting area and is definitely worth our attention.
Staying tuned for further developments on this one.
WTI: Weekly Forecast 20210530Oil prices continued to stay uplifted amid rising commodity prices due to fast-rising inflation despite a recent selloff in March.
The consolidation phrase seems to be ending as a breakout of a symmetrical triangle that occurred last week and the week ended with the price closing above the consolidation structure.
Besides, the entire consolidation which has now reached 3 months came after a major breakout of a 13-year falling trendline, thus we can expect more bulls to come, both technically and fundamentally.
This week, we expect the market to break me which but not excluding a possible pullback at the beginning of the week.
If the price drops first, we can look to buy at 66 - 65.4 region. And should the price go ahead and break higher, simply wait for a pullback towards the breakout level to buy again.
Bullish Megaphone structure-will it reach 60% of pivot lineThe price of the oil got rejected 3 times and in 4th time got some consolidation and broke the upper side resistance around 66.00. We can see a megaphone structure (Bullish megaphone structure).The retest of the upper side trend line will be a good entry point. Expected target would be 70.00stope lose can be placed below 65.00 level
For who asks for OIL Standing On resistance
Data are OK fur bull markets ( stocks are --- )
Restarts of Economy More Energy ++++ More needs +++ Higher price because of stocks
But LOOK AT THE Divergency on RSI red line !!!!???
Isn't asking for correction to get More cash to get throw the resistance ??
All Prices Are on the shart ..
And don't say thanks
SUbscribe ........................
I will Short it only
Brent: Where are the Bears? 🐨🐨🐨As regards the oil market, we are still waiting for the bears to fight back and pull the price under $64.56 and $60.26, respectively. By doing so, they’ll enable us great entry chances for the upcoming bullish run which we expect to reach way above $80 in the longer run. Only a premature breakout above $71.36 would make us change this scenario.
Keep trading!
Crucial Moment For $BPCurrent Price $26.50 Price Target $32
I Like the oil sector (RDSA,KMI) going into the summer as prices are expected to rise which will have a significant positive impact on earnings for oil & gas companies. BP is trading less than book value (0.97) at only 9 PE (FWD) with a solid 5% dividend. This is a safer hold than most pure play oil & gas companies as BP has made investments into sustainable energy production via its Wind energy projects. They have partnered with Tesla, bp is testing how effectively wind energy can be stored at its Titan 1 wind farm in South Dakota. The high-storage battery technology stores excess energy that can then be used across the site when the wind isn’t blowing. The project will help bp learn more about energy storage applications that could be useful across its entire portfolio.Given the investments into sustainable energy BP shouldn’t be hurt as much as other pure oil and gas plays when we get negative climate headlines (Policy changes, new data).
Friday: Crude Oil - Week 20There's a Complex Regular Flat in play right now. The structure is in a strong monthly/weekly up-trend and we are in the middle of a bigger continuation correction right now.
Conclusion:
- Bigger trend is up
- We are making a Complex Regular Flat (continuation pattern)
- The market is trending down on 4H and 1H timeframes - we are in the last wave going down to break the low
Look for sell-setups.
I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action.
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USO: Pump up the Jam! ⛽⛽⛽Guys, fill up your tanks before the upcoming run, as we expect the USO to rise in the long run! However, in our primary scenario, we should see a correction down to around $35.41, given that the price is not breaking out above $44.64. This breakout has a high probability of 40%. So, it remains exciting to see whether the USO is taking the long road or is trying to take a shortcut.
What shall we look at next?
USOIL at MULTIYEAR S/R zone!Oil is currently in a base consolidation at a multi-year support & resistance zone. There’s some RSI divergence in this choppiness. Not interested until price action has built support over level 70 for a long or a defined resistance below level 60 for a short. Will be updating as we go. Sharing humbling my POV and will gladly discuss with anyone if we agree or disagree, I'm a Full-time Life & Market student, always learning! Best regards and Happy Trading! Keep it simple 😉
Crude Oil Likely to Fall to $60.00 per barrel The price of crude oil is currently establishing a harmonic ABCD pattern, which means that the correction is likely to head towards the bottom at point C (60.50) next.
This is further substantiated by the fact that this level is positioned quite close to the lower boundary of a major Distribution range.
The MACD indicator is already underpinning rising bearish momentum. Meanwhile, weaker global demand is also likely to support the dropdown.
USOIL - THE MAIN PROBLEM IS STILL INCREASING COVID !SHORT DESCRIPTION:
- Nothing has changed! We are still inside DOWN TREND channel (long and short term)!
- During Monday trading a huge "HANGING MAN" candlestick has formed, which is a BEARISH SIGNAL!
- (Bloomberg) "Oil slipped with the rapid resurgence of COVID-19 in India and other countries casting a cloud around a return to normal consumption, even as OPEC+ projected a strong global demand recovery this year."
- (Bloomberg) "Indian Oil Corp. is looking to sell gasoline into the spot market -- a potential indication of weak domestic demand. The country’s refiners are being forced to postpone planned shutdowns for maintenance at some plants as workers are either fleeing or falling ill."
- Overall we are still VERY BEARISH!
GLOBAL OUTLOOK (nothing has changed):
- Record COVID cases in INDIA (the world’s third-largest oil importer) could threaten Global Oil Demand!
- The biggest cities in INDIA are on lockdown again this month!
- India’s combined demand for diesel, the most used fuel in the country, and for gasoline is set to plunge by as much as 20% (!) this month compared to March, officials from refiners and fuel retailers told Bloomberg.
- Also rising COVID cases in JAPAN (the world’s fourth-largest oil importer)!
- Japan has declared a state of emergency (shutdown) for Tokyo, Osaka, Kyoto and Hyogo from April 25 till 11th May to stop people from travelling and spreading the virus during Japan’s Golden Week holidays from late April through the first week of May!
- And last but not least GERMANY (the world’s sixth-largest oil importer) faces lockdown (curfew) until June as curbs fail to push down cases!
- And not to forget, on April 1, OPEC+ said it would gradually lift daily oil production by 350,000 barrels in May, 350,000 barrels in June, and 441,000 barrels in July and holding back around eight million barrels a day of output!
- All in all, globally it don't look good for oil demand within the next months!
USOIL - THE MAIN PROBLEM IS STILL INCREASING COVID !SHORT DESCRIPTION:
- Nothing has changed! We are still inside DOWN TREND channel (long and short term)!
- During Monday trading a huge "HANGING MAN" candlestick has formed, which is a BEARISH SIGNAL!
- (Bloomberg) "Oil slipped with the rapid resurgence of COVID-19 in India and other countries casting a cloud around a return to normal consumption, even as OPEC+ projected a strong global demand recovery this year."
- (Bloomberg) "Indian Oil Corp. is looking to sell gasoline into the spot market -- a potential indication of weak domestic demand. The country’s refiners are being forced to postpone planned shutdowns for maintenance at some plants as workers are either fleeing or falling ill."
- Overall we are still VERY BEARISH!
GLOBAL OUTLOOK (nothing has changed):
- Record COVID cases in INDIA (the world’s third-largest oil importer) could threaten Global Oil Demand!
- The biggest cities in INDIA are on lockdown again this month!
- India’s combined demand for diesel, the most used fuel in the country, and for gasoline is set to plunge by as much as 20% (!) this month compared to March, officials from refiners and fuel retailers told Bloomberg.
- Also rising COVID cases in JAPAN (the world’s fourth-largest oil importer)!
- Japan has declared a state of emergency (shutdown) for Tokyo, Osaka, Kyoto and Hyogo from April 25 till 11th May to stop people from travelling and spreading the virus during Japan’s Golden Week holidays from late April through the first week of May!
- And last but not least GERMANY (the world’s sixth-largest oil importer) faces lockdown (curfew) until June as curbs fail to push down cases!
- And not to forget, on April 1, OPEC+ said it would gradually lift daily oil production by 350,000 barrels in May, 350,000 barrels in June, and 441,000 barrels in July and holding back around eight million barrels a day of output!
- All in all, globally it don't look good for oil demand within the next months!
USOIL - COVID ON THE RISE AGAIN!TECHNICALS:
- Tuesday we've had one of the strongest bearish signals a big "BEARISH ENGULFING PATTERN", which was confirmed Wednesday!
- Thursday and Friday we've had a little rebound (retest), but closing price was below the highs of Wednesday!
- A "BEAR FLAG" has formed, where now only the flagpole is missing!
- All in all, the technical data are looking VERY BEARISH!
GLOBAL OUTLOOK:
- Record COVID cases in INDIA (the world’s third-largest oil importer) could threaten Global Oil Demand!
- The biggest cities in INDIA are on lockdown again this month!
- India’s combined demand for diesel, the most used fuel in the country, and for gasoline is set to plunge by as much as 20% (!) this month compared to March, officials from refiners and fuel retailers told Bloomberg.
- Also rising COVID cases in JAPAN (the world’s fourth-largest oil importer)!
- Japan has declared a state of emergency (shutdown) for Tokyo, Osaka, Kyoto and Hyogo from April 25 till 11th May to stop people from travelling and spreading the virus during Japan’s Golden Week holidays from late April through the first week of May!
- And last but not least GERMANY (the world’s sixth-largest oil importer) faces lockdown (curfew) until June as curbs fail to push down cases!
- And not to forget, on April 1, OPEC+ said it would gradually lift daily oil production by 350,000 barrels in May, 350,000 barrels in June, and 441,000 barrels in July and holding back around eight million barrels a day of output!
- All in all, globally it don't look good for oil demand within the next months!
UKOIL - COVID ON THE RISE AGAIN!TECHNICALS:
- Tuesday we've had one of the strongest bearish signals a big "BEARISH ENGULFING PATTERN", which was confirmed Wednesday!
- Thursday and Friday we've had a little rebound (retest), but closing price was below the highs of Wednesday!
- A "BEAR FLAG" has formed, where now only the flagpole is missing!
- All in all, the technical data are looking VERY BEARISH!
GLOBAL OUTLOOK:
- Record COVID cases in INDIA (the world’s third-largest oil importer) could threaten Global Oil Demand!
- The biggest cities in INDIA are on lockdown again this month!
- India’s combined demand for diesel, the most used fuel in the country, and for gasoline is set to plunge by as much as 20% (!) this month compared to March, officials from refiners and fuel retailers told Bloomberg.
- Also rising COVID cases in JAPAN (the world’s fourth-largest oil importer)!
- Japan has declared a state of emergency (shutdown) for Tokyo, Osaka, Kyoto and Hyogo from April 25 till 11th May to stop people from travelling and spreading the virus during Japan’s Golden Week holidays from late April through the first week of May!
- And last but not least GERMANY (the world’s sixth-largest oil importer) faces lockdown (curfew) until June as curbs fail to push down cases!
- And not to forget, on April 1, OPEC+ said it would gradually lift daily oil production by 350,000 barrels in May, 350,000 barrels in June, and 441,000 barrels in July and holding back around eight million barrels a day of output!
- All in all, globally it don't look good for oil demand within the next months!