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Oilshort

Crude oil pays attention to short-term adjustments Crude oil currently continues to maintain a good oscillatory upward trend along the short-term moving average on the weekly trend. It also maintains a good oscillatory upward trend on the daily trend. Although it has gone out of a slight rise and fall, the strong technical form is still the same. Nothing has changed. There is a certain degree of divergence in the 4-hour trend. The K-line has begun to gradually break through the short-term moving average. There may be a certain degree of adjustment in the short-term trend.
TVC:USOILShort
by Donald-king
1
Crude oil is at a high level, don’t be aggressive in chasing bulAt present, crude oil is around 86, which has reached the expected high point. Although technically bullish, this level is no longer suitable for chasing the rise. According to technical expectations, it should be temporarily suspended between 86-85. If crude oil does not stop in the short term, then the short-term market will exceed expectations, so it is okay to miss it and not participate. And if crude oil has a correction in the short term, it will be an opportunity for long orders to enter the market. In the short term, 85.35 will continue to be bullish. If there is a sudden adjustment and correction, the double bottom support above 84.2 will be bullish, and the resistance target is 86.5-87. Trading strategy: You can go long with light positions near 85.5-3, stop loss at 84.8, if there is support at 84.5 above the 4-hour mid-rail, you can participate with long orders here.
TVC:USOIL
by Donald-king
Crude oil hits new highs, if it falls back, you can go long At present, due to the intensification of international geopolitical conflicts, market supply concerns have once again heated up. At the same time, manufacturing data in the United States and China have rebounded, and demand-side expectations have increased. The dual benefits on both sides of supply and demand have stimulated the rebound of crude oil. Technically, the continuous positive closing continues to test the upper pressure level. . In terms of operation, we will focus on the pressure level near 85, and the gradually moving upward support near 82. We will support the bullish trend by stepping back, but do not consider aggressive pursuit of the increase. Crude oil is short around 84.4, stop loss is 85.2, target is below 82.6 Go long near 82.3, stop loss 81.5, target above 84 Ideas are for reference only. Profit and loss are at your own risk. Investment is risky. Please be cautious when entering the market.
TVC:USOIL
by Donald-king
Crude oil pressure is obvious, bulls are cautious U.S. crude oil inventories continue to rise, and short-term demand concerns have also increased. However, as expectations for U.S. interest rate cuts have increased, the loose atmosphere has given crude oil some support. At the same time, short-term supply-side pressure has increased as geopolitical conflicts intensify. Crude oil also stretched again after repeated repetitions. Technically, longs and shorts closed alternately. The top still focused on the pressure around 84, but did not chase the rise too much.
TVC:USOIL
by Donald-king
Oil hits YTD peak. What are the risks now? Oil prices reached their highest level in seven months, partly driven by worries that escalating tensions in the Middle East could constrain supply. Iran has warned of a potential "serious response" against Israel following a targeted strike in Damascus that resulted in the deaths of two Iranian generals. This incident has raised concerns about a widening conflict in the Middle East, following over five months of the Israel-Hamas conflict in Gaza. Furthermore, Ukraine has launched a counter-offensive by targeting Russia's oil infrastructure. Although the attacks have so far reportedly only caused minimal damage. Ukraine's objective is to disrupt Russia's main financial support for its invasion of Ukraine. Better-than-expected manufacturing purchasing managers' index (PMI) reports from China and the US have also buoyed optimism in the oil market. Because of this, investors might anticipate increased demand in the manufacturing and industrial sectors of both countries. WTI has now found support just above $84.00. The 100 SMA is above the 200, potentially indicating that support is likely to hold. However, caution might be warranted as the market nears overbought conditions. If the $84.00 level fails to provide support, the subsequent target could be slightly below $81.00, coinciding with the 50% Fibonacci retracement level from the low in March to the recent peak. Alternatively, a less significant pullback might see buyers stepping in at the 23.6% or 38.2% Fibonacci levels.
BLACKBULL:WTI
by BlackBull_Markets
Expectations of Fed rate cut rise, gold retreats1: Investors are anxiously awaiting data to be released later this week to gain insight into potential inflation trends and provide a strong basis for judging the timing of interest rate cuts. At the same time, market expectations for an interest rate cut by the U.S. Federal Reserve are growing, coupled with the strength of U.S. gold . Market focus will be on Friday's release of the U.S. core personal consumption expenditures price index. The data will reveal the latest developments in inflation and have an important impact on the Fed's monetary policy decisions. 2: Market concerns mainly come from the uncertainty of global oil supply. Ongoing Ukrainian attacks on Russian refineries have heightened geopolitical tensions and put additional pressure on oil markets. In addition, Commerzbank commodity strategist Barbara Lambrecht pointed out that as the U.S. sanctions exemption on Venezuela is about to expire, Indian refiners have stopped buying crude oil from Venezuela, which further exacerbates supply instability. Overall, while the oil futures market showed some consolidation on Tuesday, market participants remain concerned about the global supply outlook and geopolitical tensions. These uncertainties may have further impact on oil prices, and investors need to pay close attention to market dynamics and formulate corresponding investment strategies.
TVC:GOLD
by Donald-king
OIl Buy The Dips, Sell the RipsCrude OIl: Daily, Fibs & Indicators . . . Not as bullish as one would think. The move above the daily BB showed why you don't buy above the BBs . . . eventually, you get a correction. 3 days down for oil. The BB midpoint, yellow line, has been a support level for oil and will be interesting to see what happens down there. But, we are at a big resistance level based on the Oct - Dec 23 downdraft . . . so, we will be watching to see if we get support at 79.25 and then do we make a move back to highs at 83.22? That may be the trade in oil.
NYMEX:CL1!
by CeresTrader
1
Crude oil is focusing on support near 80, how to trade today? The short-term trend of crude oil (1H) fluctuated and hit new lows, testing the 80 support. The moving average system is arranged in a short position, and the short-term objective trend is downward. Oil prices hit around 80.70, forming a certain recurrence, and their upward strength is relatively weak. It is expected that crude oil will remain volatile in the short term during the day. Trading strategy: 81.60 short, stop loss: 81.90, target 80.60.Trading strategies are for reference only
TVC:USOILShort
by Donald-king
WTI H1 / Opportunity for a Short Trade 💲Hello Traders! I see a good opportunity to execute a short trade on WTI H1. I expect the BOSS at the price of 77.80 to be taken, and in case of retracement, I will look for a short trade entry. Traders, if my proposal resonates with you or if you hold a divergent viewpoint regarding this trade, feel free to share your thoughts in the comments. I welcome the opportunity to hear your perspectives. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
FPMARKETS:WTIShort
by GoodTradeST
WTI H1 / POTENTIAL LONG ENTRY / OIL IS GOING BULLISH 🛢Hello Traders! This is my forecast for WTI H1. I see another retracement from the bullish channel, considering this an opportunity to execute a long entry until the resistance level and above the Previous Day's High. If confirmed, I will execute a long entry. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
BLACKBULL:WTILong
by GoodTradeST
7 Diamnesion Analysis for OIL 😇 7 Dimension Analysis Time Frame: H4 1️⃣ Swing Structure: Bearish 🟢 Structure Behavior: Break of Structure (BoS) 🟢 Swing Move: Corrective move is filled POi, now impulsive is starting 🟢 Inducement: Done 🟢 Pull Back: 1st and deep 🟢 Internal Structure: Bearish 🟢 Ext OB: Mitigated 🟢 Supply, Distribution, Rejection: Trendline broke, trend line Breakout/CIP done 🟢 Time Frame Confluence: Daily, H4 2️⃣ Pattern 🟢 CHART PATTERNS: Reversal, Rounding Patterns, Double top 🟢 CANDLE PATTERNS: Record Session count observed in internal leg, Shrinking long wick end, Change in guard engulf, Momentum: strict engulfing with bearish strength, Tower top also observed 3️⃣ Volume 🟢 Fixed Range: In this area, bears are already strong 🟢 No Volume during correction 4️⃣ Momentum RSI 🟢 Zone: Bearish sideways 🟢 Range shift: Bullish to sideways properly 🟢 Overbought rejections count: 2 5️⃣ Volatility Bollinger Bands 🟢 Middle band: Price below the middle band with a ninja candle bearish closing 🟢 Contraction: Fully 🟢 Two Band Punchers: Observed in the upper band 6️⃣ Strength According to ROC 🟢 Values: USD -3.05, OIL is -15 7️⃣ Sentiment According to all sentiments, oil prices are under pressure ✔️ Entry Time Frame: H4 ✅ Entry TF Structure: Bearish ☑️ Current move: Impulsive ✔ Support Resistance Base: Supply area rejection ☑️ Candles Behavior: RSC, bearish Momentum ☑️ FIB Trigger event: Done ☑️ Trendline breakout: Done 💡 Decision: Sell at opening 🚀 Entry: 73.45 ✋ Stop Loss: 76.87 🎯 Take Profit: 62.55 2nd If Internal Structure Changes also Exit 3rd Trendline Breakout, Fomo 😊 Risk to Reward Ratio: 1:3.5 🕛 Expected Duration: 15 days SUMMARY: The analysis suggests a bearish outlook, supported by structural, candlestick, and volume indications. Momentum in RSI and Bollinger Bands also align with the bearish stance. The decision is to sell at the opening with specific entry, stop loss, and take profit levels, considering potential internal structure changes and trendline breakouts.
TVC:USOILShort
by Optimum369
WTI H2 / RETRACEMENT FROM THE OB, SHORT TRADE OPPORTUNITY 📉🛢Hello Traders! As expected, we can see a retracement of the OIL H2 from the resistance level, and also, from the OB at the price of 74.900. I see this retracement as a good signal of bearish domination, representing a good opportunity to execute a short trade. Treaders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
BLACKBULL:WTIShort
by GoodTradeST
3
WTI H4 / A KEY LEVEL FOR OIL 🛢📊Hello Traders! This is my perspective on WTI H4. OIL is currently at a key level, and I'm waiting for a confirmation. At the moment, OIL is in a bearish channel pattern and has now reached the resistance level. I anticipate a move until the OB from the price of 78.200. Additionally, there is a significant possibility of a strong bearish move down to the price of 65.000. If there is confirmation of a retracement from the resistance level, I will execute a short trade. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
BLACKBULL:WTI
by GoodTradeST
Oil traders overreacting to the wrong triggers? Oil traders overreacting to the wrong triggers? Divisions within OPEC have caused WTI crude to fall below $74 per barrel, ending a three-day climb for the commodity. Angola, which joined OPEC in 2007, said it is leaving the Organization of the Petroleum Exporting Countries. This move raised concerns about OPEC's capacity to stabilize global prices, particularly amid disagreements over oil production quotas. However, operational challenges in Angola have hampered the country's ability to reach its sanctioned daily output of 1.5 million barrels; so maybe its departure is not hugely damaging to OPEC’s control, and the market is overreacting to the wrong thing here. Maybe, a more pressing issue could be the surging production in the United States. Recent data from the Energy Information Administration revealed a record-breaking daily output of 13.3 million barrels last week. For one, Goldman Sachs has adjusted its forecast for the average oil price next year, reducing it by 12% due to ample production in the United States. In a note released last Sunday, Goldman revised its estimate, projecting an average of $81 per barrel in 2024, down from the previous estimate of $92 per barrel. Goldman Sachs anticipates it to reach its peak at $85 per barrel in June. Meanwhile, Citigroup offers a more cautious outlook by forecasting an average 2024 oil price of $75. This stands as the lowest projection among the major U.S. banks
BLACKBULL:WTI
by BlackBull_Markets
Oil's Next Move: Red Sea Conflict and $75? Oil's Next Move: Red Sea Conflict and $75? BP has suspended all oil and gas shipments through the Red Sea due to a rise in attacks on cargo ships and a deteriorating security situation attributed to Iran-aligned Houthi militants in Yemen. This move has caused a 2% surge in oil prices, pushing WTI crude futures to $72.5 per barrel. This development signals the first indication of a spill-over effect in Israel-Palestine tensions that could impact global supply chains in 2024. Some shipping companies are now avoiding the Red Sea/Suez Canal, choosing to navigate around Africa instead. This shift will likely contribute to increased supply costs and delays in the coming weeks. There is a possibility of the U.S. military intervening to ensure the critical shipping route remains open. However, reports also suggest a potential near-term peace agreement between the Houthis and Saudi Arabia, which could eliminate the need for U.S. intervention. Despite these uncertainties, the current abundance of oil supply might be constraining upward pressure on prices. The recent price increase could be attributed more to short covering, as money managers have consistently reduced their net long U.S. crude futures and options positions for the eleventh consecutive week, as reported by the U.S. Commodity Futures Trading Commission on Friday. From a technical standpoint, WTI is currently making an effort to secure a closure above the $72.5 threshold, and beyond that, it aims for the $73.5 level, where the 20-day Moving Average is situated. The subsequent resistance lies at a significant psychological milestone of $75. The geopolitical situation holds a crucial role. If tensions persist, there is a possibility of breaching the current levels and a subsequent upward movement toward the $80 benchmark.
BLACKBULL:WTI
by BlackBull_Markets
WTI / OIL H4 Possible LONG Trade. 📈 ✅Hello Traders! This is my view related to WTI / OIL H4. As you can see, OIL is in a very interesting phase, It took liquidity, set a new daily high, react from the OB (D1), and I expect a bullish movement until the level of 78.000. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ______________________________________________________________________________ Follow, like, and comment to see my content: www.tradingview.com
BLACKBULL:WTILong
by GoodTradeST
Are OPEC+ voluntary cuts enough to support oil prices?After the latest OPEC+ meeting, the price of WTI crude oil dropped more than 2% to $75 per barrel, ending a two-day win streak. During the meeting, OPEC+ agreed to cut oil production early next year by almost 2 million barrels per day (bpd). This decision was spurred by worries about having too much oil in the market coinciding with the end of Saudi Arabia's voluntary 1 million bpd cut. Saudi Arabia said it would continue its cut until at least the first quarter of 2024. Russia also extended its cut to 500,000 bpd for the first quarter. Iraq agreed to reduce output by 211,000 bpd, and UAE pledged to cut 160,000 bpd in the first quarter. However, OPEC+ also invited Brazil to join the group. Brazil said they plan to join in January and increase their daily oil output to 3.8 million barrels, countering the other members pledges to cut production and support prices.
BLACKBULL:USOIL.F
by BlackBull_Markets