XTIUSD...SELL (5% Drawdown)The price of oil per barrel will definitely soar high but I see a chance of sell opportunity before its long momentum, currently looking at a clear sell chance for at least $4 price reduction per barrel of oil. XTIUSD is currently trading in my supply zone....so i expect more sells to jump into this market.
NB: All eyes on the breakout zone (blue box region) to accelerate or decelerate rice movements.
Red box ( rejection zone) might or will serve as a chance for another entry for sell or a push up to soar price movements high.
Oilpricestoday
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.
Crucial Moment For $BPCurrent Price $26.50 Price Target $32
I Like the oil sector (RDSA,KMI) going into the summer as prices are expected to rise which will have a significant positive impact on earnings for oil & gas companies. BP is trading less than book value (0.97) at only 9 PE (FWD) with a solid 5% dividend. This is a safer hold than most pure play oil & gas companies as BP has made investments into sustainable energy production via its Wind energy projects. They have partnered with Tesla, bp is testing how effectively wind energy can be stored at its Titan 1 wind farm in South Dakota. The high-storage battery technology stores excess energy that can then be used across the site when the wind isn’t blowing. The project will help bp learn more about energy storage applications that could be useful across its entire portfolio.Given the investments into sustainable energy BP shouldn’t be hurt as much as other pure oil and gas plays when we get negative climate headlines (Policy changes, new data).
Short oil price 1H The short price targets:
53.27 - an average of 31 days
52.87 which is the wave 3 support
52.47 Fibo 88.6
West Texas Crude Oil (WTI) Long Trade on H1 ChartEntering into long trade of a support level at 49.85 with Reward/Risk of 1. The trade idea is based on Supply/Demand and volume analysis.
BCOUSD @ daily @ 50-53$ recaptured (dec), will it holds jan`17 ?Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
Best regards
Aaron
OIL REMAIN BULLISHAll non-OPEC producers were called upon to help stabilize the market b'cos their role was as critical as the role of OPEC members- and as we all know Oil demand is expanding at enormous healthy rate despite the slower global growth. - Eyeing = 56.1 very soon (within 2weeks)
One of the famous oil investors suggest that freezing production or in other words urges them to slightly reducing production, - OPEC wanted to send a signal to the market that it wanted to lower inventories as a way of encouraging investments.....but no one knows if both OPEC members & Non OPEC members will buy this idea - nonetheless, prior to making up their mind - oil will continue doing what's doing for now & once they decides to reduce production? then we may see oil drop back south (46.1) before Christmas or by Christmas:)
