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Oiltrading

US OIL- Pt.2- Patience is the keyIn our previous post we explained how we believe that oil still needs to complete a cycle wave 2 in the area 57-60, where the 61.8% fibo retracement and the upper trendline of a big descending broadening wedge stand. We then took a potential short opportunity at 75.8@, but we were kicked out at entry and we believe that the correction in wave ii of C of (Z) still has to complete higher, when the golden fibo level of i coincides with the level for which a=c. We are then waiting 78.14 to restrike.
OANDA:WTICOUSDShort
by GMR-Capital
Exxon mobil and other oil stocks are boughtNYSE:XOM PEPPERSTONE:NATGAS Oil stocks usally follow natural gas and the price of oil pretty closly. this makes sense since they sell oil and if the price of oil goes down then should the stock selling that oil. recently this has not been true as the price of oil and Natural gas have fallen Oil companies are not falling but why?? i belive this is because of very high profits which they got when the price of oil was high and also investors thinking that the price of oil will rebound i think oil is over bought as the underlying asset is down but the Stocks selling those assets arent Not Financial Advice just an opinon fell free to Correct me on any of my points if i didnt see something
NYSE:XOMShort
by Aplex_1
XTIUSD Short Trade from 81.25Basing this trade off of a trendline touch on the weekly timeframe and the weekly 100EMA being aligned. Coupled with the previous high made on XTI's downtrend, makes for solid confluences for an intraday short. I am not expecting crazy pips from the zone but will have a modest target as Friday is profit taking day for institutes. Stops at 43 pips and full tp at 150. Would prefer to see this occur later in the day around 3-4pm GMT. Any criticism appreciated, and if you've spotted this trade too! Happy trading.
SKILLING:XTIUSDShort
by FalkenFx
Oil sellers gearing up for a push lower? Are oil sellers gearing up for a push lower? Hi traders. Thanks for tuning in for today's update. After yesterday's fade, oil sellers remain in control today. Today's video looks at the last several day's price action with a focus on yesterday's and today's selling. Was yesterday's fade a warning that we could see a new test lower by sellers? The main trendline remains intact, and we have seen the fast-up trend broken and a new short-term downtrend start to form. Levels to watch: Resistance 74.90 Support 73.15 & 71.63 A close below 74.15 could set off a new push lower, but if we see a new higher close above resistance, this could be a warning that seller numbers are not that strong. Good trading, and happy Tuesday.
EIGHTCAP:USOUSDShort
by Eightcap
Volatile start to year for gold and oil In December, the price of gold moved through a volatile uptrend but did seemingly reject at $1,819. However, a daily candle managed to close above this resistance zone on the last day of 2022, which has been followed by a continuation to the upside at the start of the new year. Although the volatile uptrend pattern appears to remain intact. Currently, XAU/USD is sitting in the green “buy zone” of the Investing Zone Indicator. The Alma Trend Ribbon included in this indicator is presently blue, further suggesting that gold is bullish at this point. If gold manages to sustain this bullish outlook, $1,900 might be an appropriate pivot point, with $1,940 perhaps as far as a price traders might like to target. Meanwhile, Crude Oil appears to be in a downward trend, with the price below the pink (bearish) Alma Trend Ribbon. In 2023, the price cratered from ~$80.00 a barrel to as low as ~$73.00, in the first 4 days before consolidating near this low, but not without printing some impressive wicks. This week, crude oil has experienced a small rally to avoid moving deeper into the yellow sell-zone of the Investing Zone Indicator. $76.50 now appears to be a resistance level for oil, so traders might like to watch for further rejections, particularly at $74-$75, before looking for price targets below $73.00 in the days ahead.
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BLACKBULL:WTI
by BlackBull_Markets
4
Volatile start to year for gold and oil In December, the price of gold moved through a volatile uptrend but did seemingly reject at $1,819. However, a daily candle managed to close above this resistance zone on the last day of 2022, which has been followed by a continuation to the upside at the start of the new year. Although the volatile uptrend pattern appears to remain intact. Currently, XAU/USD is sitting in the green “buy zone” of the Investing Zone Indicator. The Alma Trend Ribbon included in this indicator is presently blue, further suggesting that gold is bullish at this point. If gold manages to sustain this bullish outlook, $1,900 might be an appropriate pivot point, with $1,940 perhaps as far as a price traders might like to target. Meanwhile, Crude Oil appears to be in a downward trend, with the price below the pink (bearish) Alma Trend Ribbon. In 2023, the price cratered from ~$80.00 a barrel to as low as ~$73.00, in the first 4 days before consolidating near this low, but not without printing some impressive wicks. This week, crude oil has experienced a small rally to avoid moving deeper into the yellow sell-zone of the Investing Zone Indicator. $76.50 now appears to be a resistance level for oil, so traders might like to watch for further rejections, particularly at $74-$75, before looking for price targets below $73.00 in the days ahead.
BLACKBULL:XAUUSD
by BlackBull_Markets
Crude Oil Weekly Volatility Analysis 9-13 Jan 2023 Crude Oil Weekly Volatility Analysis 9-13 Jan 2023 We can see that currently the implied volatility for this week is 5.72% With this in mind, currently from ATR point of view we are located in the 74th percentile. Based on this, we can expect that the current weekly candles ( from open to close ) are going to between: *For calculations, I am using the data since 2022* Bullish: 4.6% movement Bearish: 5.7% movement At the same time, with this data, we can make a top/bot channel which is going to contain inside the movement of this asset, meaning that there is a 29% that our close of the weekly candle of this asset is going to be either above/below the next channel: TOP: 77.9 BOT: 69.22 Taking into consideration the previous weekly high/low, currently for this candle there is : 31.5% probability we are going to touch previous weekly high 66.8% probability we are going to touch previous weekly low Lastly, from the technical analysis point of view, currently from Daily timeframe indicates -53.33% BEARISH trend from the moving averages index Weekly timeframe indicates -66.67 BEARISH trend from the moving averages index Monthly timeframe indicates 13.33% BULLISH trend from the moving averages index
NYMEX:CL1!
by exlux
WTI Bearish flag in PlayMonthly Chart : Prevailing macro sallow bearish channel in play. Weekly Chart : Breakout of weekly bullish channel in the corrective phase of the market structure. Daily Chart : Double top intermediate pattern formation within the bearish channel. 4H Chart : Asymmetric expanding mini triangle pattern, with impulse breakout of 1H chart bullish corrective structure. 1H Chart : Almost completed bearish flag, expecting break below 73.50 round number with anticipated zone of interest for tp goal at about 70.00 round number.
TVC:USOILShort
by VictigatorZM
Crude oil WTI: Downside contained?Oil WTI failed to break over the 50-day moving average during the session on January 3, and sellers returned after the price topped $80 per barrel. This resulted in a rapid drop to $73/bbl, making it an interesting area to assess the strength of buyers on dips once again. Remember that the US is actively purchasing crude oil at 67-72 dollars per barrel range in order to replenish its strategic reserves (SPR), which have fallen to their lowest level since 1983. The level of $70/bbl generated a double bottom between December 9 and December 12, 2022, luring buyers at those prices. In the coming weeks, the market may retest those levels or even hit $69-68.5/bbl (December 21, 2021 lows). In such a case, the RSI may show a bullish divergence since it will not fall as low as it did at the December 9 price lows. Thus, the short-term scenario may still have another leg down, albeit the proximity to the purchasing window may limit bearish pressure. A fresh rise over $80/bbl (the 50DMA and the negative trendline from June to November 2022) would open up new positive prospects towards $84/bbl (23.6% Fibonacci) first and $90/bbl (psychological and highs of November 10, 2022) afterwards.
TVC:USOIL
by Capitalcom
2
Financial Wave. CLWe have adjusted our priority scenario in CL. Downward acceleration in wave 3 looks most likely and could bring oil prices to $62.92. If the price of oil rises to $81.72 we’ll change our view. In support of our opinion, we also want to note: 1. Strong winds and mild temperatures will certainly reduce energy demand. 2. Bubbles burst in the financial markets. One of them, the real estate market in Canada, UK, Sweden and Australia. This is another sign that social sentiment is turning negative.
NYMEX:CL1!Short
by Financial_Wave
Would like to see some consolidation....Crude has been honoring this trendline since tagging my supply zone a couple of weeks ago. I think we have a good chance of tagging the 200 ema at around 88 but would like to see some consolidation for a few days, similar to the consolidation that occurred on Dec 19-22. Nice inverted H&S pattern forming plus all of the bullish factors I mentioned in my last post makes this a high probability trade imo. China opening up should provide some tailwinds as well. Thanks for reading and let me know what you think. Cheers.
NYMEX:CL1!Long
by GreenBoxTrading