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USOIL | Will The Price Test $70 Soon?OIL | Will the price test $70 soon? Despite the energy crisis that the whole world is suffering from, we can see strangely that oil is falling in value. One of these problems is addressed to the possible economic recession that with this comes the decrease in oil consumption in general. However, despite that speculation, from a technical point of view we can see that the price is moving down on the daily chart. After each breakout of the structure, we can see that the price consolidated a lot of days before the next bearish move. The same thing can happen again up to $70 Thanks and good luck!
TVC:USOILShort
by KlejdiCuni
18
The oil market bows to the tactical strategy of the FEDSpeculators and oil giants seized the moment to maximize their oil profits the past months. With a mixture of war fears, supply fears and the increased demand for crude oil after the Corone pandemic and bad supply chains, a broad panic wave had broken out. Let's have a short overview about the current situation: Europe's situation: With India and China importing massive amounts of oil from Russia at very favorable conditions, capacity is freed up on the world market. The new routes have now established themselves, an equilibrium in price and efficiency has now settled in. The same applies to LNG. Global Supply Chains: They are healing, freight costs are falling, although demand for freight containers remains consistently high, as do increased kerosene prices. An equilibrium is more or less reached. Wars and conflicts due to lack of food : The grain agreement for fertilizer and grain exports from Ukraine has improved the situation on the world market and avoided narratives for conflicts in poor countries that might lower down oil exports. Summer session is over : As is known, midsummer is the time when most people in the world travel, especially now after the corona pandemic, many people left by car or plane for the first time since years. The season high is over. The FED is just trying its best to lower the price below a tactical zone so that speculators are technically afraid to long oil markets. This is to mitigate a price-oil spiral. I expect we will see a 75bps interest hike this month as well to push oil prices below the MA trend lines. Oil prices will fall another good 20-40% in the coming months. There is no way the FED will allow it to pop back above 100$ for the next months, otherwise the mild recession might become a deeper one. Disclaimer: The information mentioned in my post should be taken with a grain of salt. They are only my personal opinion and do not form facts. They are also not a call or recommendation to open trades, do trades or close positions.
OShort
by Lobotto
1
USOIL: 80.00 🩸The chart shows the downtrend. After breaking for the second time the support of 87, it will test 86. We will see if it bounces towards 90 or we go to 83 Technical analysis: daily time frame The RSI is bearish. DISCLAIMER: This review is not intended to encourage the buying or selling of any particular security. Furthermore, it should not be the basis of any trading action by an individual investor. Therefore, your own due diligence is highly recommended before entering into a trade.
FX:USOILShort
by UnknownUnicorn9051525
WTI oil - An indecisive moment in the oil marketWe warned about the possibility of a downtrend correction in the middle of August 2022. Indeed, we said that the breakout above the sloping support/resistance would lead to such action. Then shortly after that, USOIL rose from its lows and broke above the resistance, halting its rise at 97.65 USD per barrel. Since then, the price fell back below the 90 USD price tag. However, the drop stopped slightly above the sloping support, which is bullish. Accordingly, we are bullish on oil for as long as the price stays above the support. However, an alternative position can be taken (with a tight stop-loss) on the breakout below the support. In the short-term future, we will pay close attention to OPEC's rhetoric and any potential talks about more production cuts. In our opinion, cutting production risks higher prices for oil in the short term. Although with the prospect of global recession unraveling, we think production cuts will only have a temporary effect if any. Illustration 1.01 The picture above shows the daily chart of USOIL. Yellow arrows indicate a bullish breakout above the sloping support/resistance and subsequent failure of the price to retrace below it. As long as the price stays above the sloping support/resistance, it stays in the bullish area. Technical analysis - daily time frame RSI and MACD are neutral. Stochastic is bearish. Overall, the daily time frame is neutral/slightly bearish. Illustration 1.02 Illustration 1.02 shows the daily chart of USOIL and two simple moving averages, which still reflect a bearish constellation. Technical analysis - weekly time frame RSI is neutral. Stochastic and MACD are bearish. DM+ and DM- are bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOIL
by Tradersweekly
26
trade ideaEnergy crisis will deepen further in autumn. Russia’s decision to stop gas supplies to Europe is exacerbated by yesterday’s OPEC+ decision to cut crude oil production by 100,000 barrels per day beginning from October. The reason is to defend oil prices on the global market after Europe decided to cap price for the crude oil exported from Russia. The situation implies increasing spiral in energy prices which means bad news for the stock markets. The situation could be more severe than during covid, because of uncertain duration. We believe that the decision to cut oil production may create a short-term upward momentum for crude oil prices. We believe that the price drop is highly limited, while upside potential implies an attractive risk/return. We would consider building a swing trade long position around $86-$87 per barrel with potential swing to over $100 or even higher again.
NYMEX:CL1!Long
by IrinaTK
WTI Crude Oil OPEC+ Token Supply CutOPEC+ unexpectedly decided to cut output in October by 100,000 barrels a day. Emily Ashford (Standard Chartered analyst): “Last month’s adjustment provided a nod to the demands of the consumers, this monthly adjustment is a small nod to the concerns of the producers,” Deepening energy crisis in Europe after Russian energy giant Gazprom PJSC said gas flows along a key pipeline to Germany would not resume. In this economic context my short term price target for WTI Crude Oil is $99. Looking forward to read your opinion about it.
TVC:USOILLong
by TopgOptions
3
USOIL on a triple bottom 🦐USOIL on the 4h chart bounced over a monthly support creating a possible triple bottom into an important liquidity zone. The market after the test of the 86 level is now trading below a minor resistance. How can i approach this scenario? I will wait for the EU market open and if the market will break above i will set a nice long order according to the Plancton's strategy rules. -–– 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:USOILLong
by InkyGrip
4
Nov. Crude Oil... OPEC+ meeting on the 5thNext week on the 5th of Sept. OPEC+ will have a meeting to talk all things oil. I am thinking they will pull back on production due to the massive decline in oil prices this week. (11.5% on Nov. Crude). With lower production, brings lower supply, lower supply brings higher demand! That being sad, I am looking to get long today or next week. On the chart I am looking for a swing failure of yesterdays lows into the red horizontal area. I will scale in as the price enters this zone and double down at the bottom of the zone. There is a lot of confluence at the bottom of that area. Along with all of that I see a bullish divergence forming right now that would also aid in a nice rally here. My take profit targets are signified by wave 1, 3, and 5. This trade has a 75-85% chance of playing out to at least the top of wave 1, I plan to take 25% of my position off there and leave the rest for other targets. Move stop loss into profit. Please leave a comment below on what you think and if you have an opposing idea! Goodluck
NYMEX:CLX2022Long
by farmtrader15
UKOil (Brent) 4H TA : 09.01.22 In this chart, we can see the possible price trends of Brent oil! 2 scenarios are specified on the chart based on the probability of each occurrence! Follow us for more analysis & Feel free to ask any questions you have, we are here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 09.01.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
TVC:UKOILLong
by ArmanShabanTrading
33
BRENT CRUDE OIL BEARISH PREDICTIONSPrices of petroleum are declining due to increased output by OPEC and United States and weakening demand by the Chinese economy. RSI index of the Daily graph of BRENT is below the neutral line of 50, and MACD histogram, although still above 0 line, is declining. If the price keeps falling, it might test its previous support at 91.50 and if it breaks it, it might target levels of 84. Alternatively, it might try to reach levels of 105.5 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:BRENTShort
by legacyFXofficial
USOIL a retest of the 0.5 Fibonacci area 🦐USOIL on the 4h chart bounced for a 2nd time over the 92 area. The market after the test of the 0.5 Fibonacci support is now trading below a minor resistance. How can i approach this scenario? I will wait for the EU market open and if the market will break above i will set a nice long order according to the Plancton's strategy rules. -–– 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:USOILLong
by InkyGrip
2