ENSV very quiet...Consolidating leads to expansion!
I'll keep DCA up when I get some other good wins.
I dont believe we have see the bottom and the previous high is to be taken out. I do not believe that the ATH will get taken out nor will we double top.
I can see Oil to retrace down to $30-45 on my crystal ball. The current administration will continue to gut the strategic Reserves here in America and will cease to give any grants or funding to the oil industry. They are going to push their stupid ass green agenda and cause so many people in corporations to go near bankrupt. It'll end up almost being like a horror movie for many people but if this company survives it should thrive. Also after oil hits around 30 to $40 I think that we could see 160 on the table per barrel.
NOTHING I SAY IS FINANCIAL ADVICE CAN GO TO ZERO I WAS JUST A DUMB ROUGHNECK AND MWD IN THE INDUSTRY AND MY GRANDFATHER HAD AN OIL COMPANY AND MY PARENTS WERE ENGINEERS...
Oiltrading
WTI CRUDE OIL: Sets course for $80WTI Crude Oil is bullish on its 1D technical outlook (RSI = 59.800, MACD = -0.360, ADX = 28.602) as it crossed over the LH trendline of the Bearish Megaphone. After a 4H RSI bottom formation, the 4H MA50 and MA200 are about to form a Golden Cross, the first since June 18th that caused a rally continuation to the 0.786 Fibonacci level. That is where the August 12th LH is and that is our target (TP = 80.00).
See how our prior idea has worked out:
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Got the crude !I got the crude movement with fine move
1:2 RR
FOLLOWING MM AND RM
even geopolitical pressure I'm in profit 📈
Heading into 78.6% Fibonacci resistance?USO/USD is rising towards the resistance level that is an overlap resistance that aligns with the 78.6% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 74.82
Why we like it:
There is an overlap resistance level that aligns with the 78.6% Fibonacci retracement.
Stop loss: 77.44
Why we like it:
There is a pullback resistance level.
Take profit: 72.56
Why we like it:
There is an overlap support level which lines up with the 23.6% Fibonacci retracement.
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WTI: Will Iran drag Saudi into conflict? Israeli officials are considering how to respond after an Iranian missile strike on Wednesday, which caused little damage, but definitely had the potential to do so.
Their next steps could depend on the U.S. stance. President Joe Biden reaffirmed U.S. support for Israel but made it clear on Wednesday that he would not support Israeli strikes on Iran’s nuclear sites.
Oil prices have already jumped 5% after Biden mentioned discussions about possible Israeli strikes on Iran’s oil industry. Iran, the world’s seventh-largest oil producer, exports about half of its oil, mainly to China.
If tensions escalate into a broader conflict, Iran it is expected to draw Israel’s regional allies, including Saudi Arabia (an even larger oil producer than Iran) and Jordan, into the confrontation.
LIGHT CRUDE OIL 1W COMODITIES - CRUDE is still DOWNLIGHT CRUDE OIL 1W COMODITIES - CRUDE is still DOWN
It is difficult to understand the current context of raw materials in relation to their behaviour in previous times, and above all what is happening with oil.
Until very recently, a conflict in the Middle East meant increases in the price per barrel. At the moment, the hornet's nest is stirred up, but it does not seem to be enough. The Israeli conflict with its close neighbours would have been more than enough for this scenario of increases, and even more so when a nuclear power like Iran is directly mentioned.
However, the crude oil market is in a downward spiral that has not yet hit bottom. Whether it is due to the threat of electric cars, the use of renewable energies or any other reason that occurs to us why the oil market is currently bearish.
Regardless of the factors that have brought the price to $70 per barrel, we can consider oil (black gold) as an alternative to gold or other reserve assets.
If the technology market turns around, everyone will run around like headless chickens and this could be a good safe haven.
As for the strategy to follow based on Technical Analysis, our position remains bearish until the price finds a support zone:
SUPPORT 1: 57 - 61
SUPPORT 2: 34 - 39
As long as it does not break the bearish channel, we will follow the evolution of the price until it gives buy signals and we will pay special attention to the areas marked as supports.
Once our strategy is defined, it is a matter of waiting to enter at the right time.
TradeX Bot, you can configure BUY and SELL strategies on futures, so our way of approaching the market will offer us opportunities whether the market goes up or down.
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This tool is in the development process and the BETA will soon be ready for testing.
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I share with you my technical analysis assessments on certain values that I follow as part of the strategies I design for my portfolio, but I do not recommend anyone to operate based on these indications. Inform yourself, train yourself and build your own strategies when investing. I only hope that my comments help you on your own path :)
OIL Short - Don't Slip On Your Longs BoysHey everybody, so while obviously the media is all about the Israel conflict I think we are still far away from being at the bottom. We just wicked today, on a monday, the friday high, started to show some major rejection signs which gives me the green light for a short "experiment" to finally wick the low weekly and daily levels. Remember boys, the best trades appear when the masses got stop out, not the other way around.
Oil Short Term Sell IdeaH1 - Strong bearish momentum
Lower lows
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
WTI Crude Oil 4H Long – Targeting 0.5-0.7 Fibonacci LevelsWe’re seeing a breakout on the 4-hour chart for WTI Crude Oil, presenting a potential long trade setup. The price is targeting the 0.5 to 0.7 Fibonacci retracement levels. However, we may experience a retest of the breakout level before the trade fully reverses and moves towards the targets.
Technical Analysis:
• Breakout Confirmation: The recent price action has broken through resistance, indicating a potential shift to bullish momentum.
• Fibonacci Levels: The 0.5 to 0.7 Fibonacci levels are key areas of interest, aligning with possible resistance where the price might stall or reverse.
• Retest Potential: There’s a possibility that the price could retest the breakout zone before resuming its upward movement, which is a common pattern following breakouts.
Trade Setup:
• Entry: Consider entering a long position either at the current level or on a potential retest of the breakout zone.
• Target: The primary targets are the 0.5 to 0.7 Fibonacci levels, which represent areas where we may see the price consolidate or reverse.
• Stop-Loss: Place the stop-loss below the recent low to protect against a false breakout. Since this is a swing trade on a 4-hour chart, be prepared for the trade to develop over a few days, potentially extending into weeks.
Risk Management:
• Position Sizing: Adjust your position size to account for the potential duration of this swing trade, ensuring that you’re comfortable with the longer timeframe and any market fluctuations that may occur.
• Trailing Stop: If the trade moves in your favor, consider using a trailing stop to lock in profits while allowing the trade to continue running towards the target levels.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
USOIL - Short Trade Idea (26th Sept 2024)This is my analysis on USOIL.
So, what my eye catches is the ascending sellside trendline liquidity being build up. We have a recent touch on it, retracing into a weekly SIBI. Based on this, I am anticipating us trade quickly down into a monthly BISI as my initial target.
The stoploss I set is based on the current swing high. A wider stoploss could be adopted to weather any sort of wick damage happening during high impact news.
Let's see how this plays out.
- R2F
WTI CRUDE OIL: Last short term buy.WTI Crude Oil is neutral on the 4H technical outlook (RSI = 51.729, MACD = 0.500, ADX = 25.961) as it pulled back to the 4H MA50 intra day. The fact that it held, suggests that it remains the short term support of this uptrend that is targeting the 4H MA200 (TP = 72.50) where so far we have had three straight rejections since August.
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HighPeak Energy | HPK | Long at $15.75HighPeak Energy NASDAQ:HPK currently has a 19.5million float, 24%+ short interest, 12x P/E, and debt/equity ratio of 0.7x... all while insiders are loading up on shares (CEO grabbed $5+ million in August 2024). Something may be brewing. The oil and natural gas company's earnings are expected to rise into 2025 after taking a hit in 2024.
From a technical analysis perspective, the price for NASDAQ:HPK has been consolidating for some time now between $12 and $17. It won't trade sideways forever, but that doesn't mean it's only going up. Personally, with the amount of insider purchases and limited selling since 2022 while the stock is consolidation mode, I anticipate an upward move in the coming months or years into 2026. At $15.75, the stock is in a personal buy zone. There is a gap near $14.50 that may be closed in the near-term, but unless some abysmal company news emerges (which is counter-intuitive to insiders buying right now), the stock may be gearing up for a big move.
Target #1 = $17.40
Target #2 = $19.00
Target #3 = $20.00
Target #4 = $22.30
OIL LONG 15M TF🚀The Atom Signals Trading View Indicator is a sophisticated tool designed for traders seeking to enhance their market analysis and trading strategies. Developed with the intention of providing clear and actionable signals, this indicator leverages a blend of technical analysis techniques to identify potential entry and exit points in the market. It aims to simplify the decision-making process by offering visual cues and alerts, which can be particularly valuable for both novice and experienced traders.🤖
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WTI CRUDE OIL: Best buy opportunity in more than a year.WTI Crude Oil is almost oversold on its 1D technical outlook (RSI = 36.459, MACD = -2.670, ADX = 29.899) and coupled with the the price breaching inside the S1 Zone, the market is giving the best long term buy opportunity in more than 1 year. The S1 Zone is in place since March 15th 2023. Additionally, the 1D RSI has made a Double Bottom (DB), which has a 100% success record out of 3 times since March 2023. Every rebound to the LH trendline (pattern is a long Descending Triangle) approached the 0.786 Fibonacci level. Our TP = 78.00.
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USOIL: Quick Buy Opportunity After Weekly Support BreakUSOIL has broken through a significant weekly green line support, presenting a potential buy opportunity for a quick retest of the previously broken zone. Watch for price action around this area to gauge the strength of any potential bounce or continuation.
Interested in how this setup unfolds? Drop a comment and follow for more trade ideas and updates!
Disclaimer: This is not financial advice. Always trade responsibly!
Oil Collapse | WTICOUSD About to Give it Up!I called the oil top in June 2022 and I have been building / holding a massive leveraged short position ever since then.
This market will take YEARS to recover, after the current selloff is complete. I will continue to cover the devastation, along the way.
Don't listen to the media - they are lost.
Question your "advisors" - they are going to encourage you to "stay invested", it's what they do.
Ultimately, the decision to ride out this market will cost you dearly.
If you are able, GET OUT OF THE MARKETS.
There is nowhere to hide!
Supply/Demand Analytics on 2024 Oil: IEA-EIA Demand ProjectionDear Esteemed Members,
There are several fundamental factors that could support the oil price reaching $76.09 per barrel, which is the highest level since November 2014.
As the global economy rebounds from the pandemic, the demand for oil is expected to increase, especially in the second half of 2024. The International Energy Agency (IEA) projects that global oil demand will grow by 5.4 million barrels per day (bpd) in 2024, reaching 99.6 million bpd by the end of the year.
The OPEC+ group of oil producers, led by Saudi Arabia and Russia, has been maintaining a cautious approach to increasing output, in order to balance the market and avoid oversupply. The group agreed in April to gradually raise production by 2.1 million bpd between May and July, but this is still below the pre-pandemic levels of output. Moreover, Saudi Arabia has voluntarily cut an extra 1 million bpd from its production since February, which it plans to phase out by July.
The US shale industry, which was hit hard by the price collapse in 2020, has been showing signs of discipline and prudence, focusing on improving cash flow and shareholder returns rather than expanding production. The US oil rig count, a proxy for drilling activity, has increased by about 100 rigs since the start of the year, but it is still more than 300 rigs lower than a year ago. The EIA estimates that US crude oil production will average 11.2 million bpd in 2024, which is 0.3 million bpd lower than in 2020.
The oil market is always susceptible to geopolitical tensions and conflicts that could disrupt supply or create uncertainty. Some of the current hotspots include Iran, Libya, Nigeria, and Venezuela. Iran, which has been under US sanctions that limit its oil exports, is engaged in indirect talks with the US to revive the 2015 nuclear deal, which could lead to a lifting of sanctions and a return of Iranian oil to the market. However, the outcome of the negotiations is uncertain and could face opposition from hardliners in both countries. Libya, which has been plagued by civil war and instability, has seen its oil production fluctuate due to frequent attacks and blockades on its oil facilities. The country is currently producing around 1.2 million bpd, but it faces challenges in maintaining and increasing its output amid political and security risks. Nigeria, Africa’s largest oil producer, is facing social unrest and militant attacks that could affect its oil infrastructure and exports. The country is also struggling to implement a long-awaited reform of its oil sector, which could improve its governance and attract investment. Venezuela, which has the world’s largest proven oil reserves, has seen its oil industry collapse due to mismanagement, corruption, and US sanctions. The country’s oil production has fallen from over 3 million bpd in the late 1990s to less than 0.5 million bpd in 2020.
Kind Regards,
Ely
Oil Is Heading Down In Price, Support at $72 Just Broke, Low $60The price of Oil was in a trading range between $72 and $85ish, this past week it broke down support and now is going to head lower, I suspect we can see $62ish at first level of support, but I think mid $50's is now on the table.
Why? Elections are upon us and they want to make costs come down, so it looks like they are curbing inflation and thus justify more rate drops. Also if Trump wins, he is talking about lower energy costs and ramping up production in the US, so the outlook is bearish for the energy commodities prices... as supply increases and demand remains the same, price goes down... and so the bear market starts.
XTIUSD Out look Wti crude oil is has move in bearish direction and has broken its support also going to retest its broke below resistance level also 50 SMA is showing us on 1H a bearish trend and that bearish move is likely to continue
WTI Rises Above $84.50 Amid Summer Demand ExpectationsWith the peak of the summer travel season, marked by the Independence Day holiday this week, US oil demand is expected to surge. The American Automobile Association (AAA) projects travel during this period to be 5.2% higher than in 2023, with car travel alone increasing by 4.8% compared to the previous year, according to Reuters.
Crude oil markets are further supported by ongoing geopolitical tensions in the Middle East. The Israel-Palestinian Hamas conflict continues to create volatility in energy markets. Investors are concerned that a potential cross-border spillover could involve direct action from Iran, a Hamas supporter, threatening crude oil supplies and logistical stability in the region.
The American Petroleum Institute (API) reported the steepest week-on-week decline in US Weekly Crude Oil Stocks in nearly two years. API data showed a significant weekly decrease of -9.163 million barrels, far exceeding the forecasted -150K drawdown and following the previous week’s -3 million barrel decline.
Given our forecast, we are currently considering a short position in the supply area. Typically, crude oil production for summer demand occurs in the preceding months, leading to higher oil prices before the summer season. Our seasonality analysis indicates that crude oil prices generally decline in trading from the end of July through September.
Therefore, we are now looking for a short position.
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Oil baby, common you can do it! Do it!FA: Historically, when the Fed rate is lowered in the U.S., there is one very simple pattern - the collapse of commodities!
Of course, there are nuances related to the rate of downgrade....
Prices do not start falling at once... most often there is a time lag from 2-3 months to 8 months.
It is important to understand the following...
The USA controls oil prices (directly or indirectly - but the fact remains). Oil reserves in the states are low but last report showed very nice numbers (actual -0.8M vs forecast -2.7M)
Now catch the train of thought:
US will start a cycle of rate cuts- US has more than enough oil reserves - historically rate cuts are a drop in oil prices
TA: After aggressive movement till 4h gap, price went down as expected with first MS, then price went up to test BTS zone and made second shift (BoS) and came into bullish 4h fvg. Now there are 3 options:
1 - move higher till 4h fvg into premium , rebalance and final move till EQL at 71.4$ area
2 - fail 73.3 area from market opening with potential move downwards till EQL
3 - Breaking above 4h FVG with target at 77.55$, this option can be considered only after closing above 4h fvg on 1h+ time frame with candle's body
OIL Short - Wouldn't it be funny?I mean... expect the unexpected right? Monday seems to have topped out the whole move while wednesday could be a potential conitnuation. Where would be the biggest pain point for longs?
PS: Prepare yourself to work with broader SL here, $78 is as well in play. But I like this current situation since I know that the majority is obviously long cause of our daily world drama and it just doesn't make sense to anybody that Oil could suddenly drop again?!
Crude oil 76.5 buy tp :79!Last week I have been stressing that crude oil 74 is a one-hour bottom support and has not formed a new low and every day is building a bottom to push up the price which will be the rhythm of the correction and continue to rise!
If you follow my advice then you will make at least $30 more profit!
Many of my articles will be blocked but my prediction accuracy is over 100% if you want to get a factual trading signal you can click on my website to contact me! In case I can't be reached
The trend of crude oil in the last two trading days formed a V-shaped trend line has reached the bottom position, so this position you just need to buy you can make money!
Crude oil 76.5 buy tp :79!
