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Oiltrading

Crude prices under downside pressureCrude prices under downside pressure on the back of weaker demand outlook The recent break below the $92 short term support level has opened up the prospects for a further decline towards a test of the September 30th lows near $84, the bearish outlook can be technically supported by the fact that current price is below its 20 and 50 day simple moving averages, as well as the fact that the 14 day relative strength index has crossed below its respective signal line (bearish). Short positions can therefore be technically supported provided price is unable to push back above the recent support now turned resistance at $92. Short sellers may be looking for $84 and $81 as potential downside targets, while longs may be aiming for a retest of the $92 area with $93.54 in extension.
SKILLING:XBRUSDShort
by Skilling
USOIL Forecast: Position Trade IdeaHey trader, As you can the price is currently bearish running in the head and shoulders level 2, and below the 50 and bearish crossed short-term MAs. It is preparing to drop for the patterns L3 together for the 200 MA (that's visible on the MT4 chart). But that bias will be fully confirmed once the price has bearish closed and retested below the Daily Neckline and 8 MA (1st trade) or 3rd Weekly Key Lvl (2nd trade), to trigger what I call the "H&S C-E.1 & E.2 signals". However if the price decides to bullish rally to break and retest the 3rd Monthly Key Lvl and 8 MA, the bias will be rejected. With that said, take the trades at your own risk, because this is not financial advice. I'm just sharing my point of view, which you also can do in the comments section below. I don't mind if you do so; I'd love to know your thoughts! That's it for today. I hope you found value from this article. If you wish to see more content on trade ideas and psychology, click the posts linked below. You won't regret it. Trade Safe, Sphatrades.
TVC:USOILShort
by Doji-2k1
Cenovus Energy INC.CVE price chart analysis on the 3Day time frame 2015-Current. In line with my "Keep it simple stupid" philosophy, my trend analysis shows that when the 13 SMA crosses the 48 SMA, it is a notable occurrence, possibly indicating a change in trend upcoming. My buy or sell decision occurs when the red 48 SMA turns down (Bear) or up (Bull). This simple strategy shows me possible % gains if playing various long or short market equity instruments and entering/exiting the trade near or at these occurrences. Included is the 200 SMA line. My method of trading this ticker is to buy or short 100% of my position at the 13/48 SMA crosses (with 48 pivoting up or down) This helps my probability of success and risk factor. Using this method and resulting in 8 trades short and long, I could possibly have made around 75% gain on the downside since 2015, and an additional approx. 400% gain on the long side since Jan. 2021 had I been selling at these level. Normally I would be still holding the position until a new 13/48 SMA cross down (so return would be less). The support line is included around $14/sh mark for interests sake, as price would most likely bounce around there for a bit imo. I could also add other indicators such as custom buy sell signals and or MACD, RSI, SAR to assist my decision making but the trend based idea keeps me grounded in the trade. I generally use Heikin-Ashi candles for simplicity/clarity and also remove the wicks. None of this should be interpreted as financial advice, I am not a professional or certified financial adviser! all charts, and or analysis' are my personal opinions and observations only!
TSX:CVE
by Turtlecoins
OIL Weekly Forecast 14-18 November 2022OIL Weekly Forecast 14-18 November 2022 Currently the implied volatility for this asset is around 6.59%, up from 6.36% of last week. From volatility percentile, point of view, we are currently on 66th from ATR and 66th from OVX index. With this volatility percentile values into account we can expected on average that the weekly candle is going to be: 4.56% for bullish 5.01% for bearish With the current IV, we can expect with a 71.0% probability that the market is not going to close either above or below the next channel: TOP: 94.68 BOT: 83.35 Lastly, based on previous calculations, we have: 31% to hit the previous weekly high of 93.8 65% to hit the previous weekly low of 84.65
NYMEX:CL1!
by exlux
USOIL can look for new recent high? 🦐USOIL after the test of the 93 level dropped back at the 85.50 support creating a possible double bottom. The price is now trading below the 89 level and according to Plancton's strategy IF the market will break and close above the resistance level we will set a nice long order. -–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
TVC:USOIL
by InkyGrip
4
High-risk buying opportunity USOIL !The price is now within the buying areas, but it is high risk, and is now based above the moving average 200 with an uptrend and within the demand area, but with this there will be risks, if it closes below the demand area, there will be more downside. It is an opportunity worth entering into, but with a small contract that fits your wallet Note: Opportunities do not end, but your account may expire quickly if you covet this market. 🔥💥 Like, Shared and subscription 💥🔥 Note: If you are a beginner trader, you should be aware of these rules: 1: Do not covet 2: Don't trade too much 3: Secure your positions after entering the profit 4: Enter contracts that fit your portfolio 5: Adhere to all recommendations
FX:USOILSPOTLong
by zaidhatem