oil long ideamy long idea for usoil, I think on de mid-term that usoil goes to 110 dollar per barrel,
Oiltrading
Aramco eyes diversification after record Q2 income Is Saudi Aramco (TADAWUL: 2222) looking to diversify its income sources after soaring oil prices helped it deliver record-high earnings in the second quarter?
Saudi Aramco saw its net income nearly double during the three-month period to 173.80 billion Saudi riyals ($46.28 billion) from 90.90 billion riyals.
President and CEO Amin Nasser said increasing demand for the company's products made the record-high earnings possible, adding that it also benefitted from favorable market conditions stemming from strong global crude oil prices.
But as oil prices begin to cool down, Saudi Aramco has set its sights on improving its technology and generating products from different sources.
Reaching New Heights
Saudi Aramco formally listed on the Saudi Stock Exchange Dec. 11, 2019. Upon its debut, it became the most valuable listed company with a market capitalization of $1.9 trillion. It was eventually dethroned by Apple (NASDAQ: AAPL), but thanks to oil price hikes, it reclaimed the title in May with a market value of $2.43 trillion against Apple's $2.37 trillion.
Every movement in the company's price is heavily reliant on oil and energy prices. Saudi Aramco saw major growth when oil prices reach multi-year highs at the beginning of the second half. When war broke out between Russia and Ukraine, oil prices had another boost. Nowadays, industry observers aren't as bullish.
Last week, oil prices tumbled amid fears that demand could weaken due to an impending economic slowdown, Reuters reported.
Given this trend in oil prices, the company had been on the red, dropping nearly 3% to $39.00 since August 14. Its management does not seem fazed, however, with Nasser saying "we expect oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts."
Off to new goals
Nasser, as part of Saudi Aramco's second quarter results, said the company is working to increase production from multiple energy sources, including oil and gas, as well as renewables and blue hydrogen. "We are progressing the largest capital program in our history and our approach is to invest in the reliable energy and petrochemicals that the world needs, while developing lower-carbon solutions that can contribute to the broader energy transition," he added.
Khalid Al-Falih, Saudi Arabia's Minister of Energy Industry and Mineral Resources and chairman of the Saudi Aramco's board, said the company will be on the frontline of the country's Vision 2030. He said the company "will become a much more technology and knowledge-driven organization" and that it "will seek to move, change, and expand into areas that will not only make it more agile and responsive, but also lead the industry into a better energy future."
USOIL ! reversed to bullish sign long trade analysisUSOIL is headed for a strong bearish trend there is sign that this downtrend may be over. While earlier bullish, oil neared the 100 EMA, rejected strongly and down. But this time, the oil broke the 100 EMA and moved very strongly bullishly. Oil is currently trading at a level it previously strongly rejected. If can break this level and show growth, you can make a profit on long trades.
Oil Back to 100$ a barrelOil has had some strong buying volume around 85-86$ a barrel. Starting to break out of the downward slope to create a new higher low pattern.
If Iran doesn't except the deal the price of oil will pull back above 100$ a barrel
-Russia might also cut of demand for EU
-USA is going to stop adding supply in September because their reserves are running low
-Anything about 93.00 i would be going long TVC:USOIL
#UKOIL (Brent Oil) : 08.23.22 This is the possible trend of #UkOil (Brent) and there's 3 scenario that i indicated them on the chart , everything is clear , but just in case if you had any questions please feel free to ask !
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⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 08.23.2022
⚠️(DYOR)
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USOIL on a hot level 🦐 USOIL on the 4h chart bounced over a monthly support.
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.
DOABC correction appears complete. No in a leading diagonal rising wedge pattern. Likely a retest to $5.80 before starting the next leg higher.
XTIUSD....BUY (7.10%)after a long sell on oil, XTI formed a double bottom between 5th and 17th August.....finally i'm expecting a bull run on XTIISD...int0 $96 per barrel!!!
There's a possibility for a price rejection at $94.2
NB: red box: rejection zone
blue box: breakout zone
FEDS open federal land for oil exploration LONG SETUP USOUSDVANTAGE:USOUSD
With the news catalyst of massive new open leases on federal land for USOIL
and the big oil companies USOUSD has reacted with a big uptrend.
with major resistance 3 to 4 percent higher this may continue.
This seems to be a good setup for a swing long trade on USOUSD
and potentially any of the big oil stocks.
Working Out A USDCAD Trade Idea I don't normally compare many markets when analyzing currencies, but I thought I'd try something new. Apart of being a trader is pushing yourself to try and track the results if you'll succeed or fail overtime. This is my first step forward trying this out. Let's see what happens.
Markets I'm using?
* Dollar Index- Indicie
* USOIL- Commodity
*USDCAD- Foreign Exchange market
The idea is USDCAD will continue back to the previous low. Price is already testing my estimation zone(my created name to my trading strategy). If price closes bearish today I will enter the trade.
What will invalidate the sell?
As I am not in the trade yet, if price closes bullish I will not enter the trade. If price passes the last high at 1.29844, I'll know price has reversed.
FYI: I am a swing trader who trend trades and trades based on the supply and demand of price. I don't use patterns, alot of indicators, or many candlestick formations. I keep my trading as simple as possible so I can see price action.
Thank you for reading and watching the me analyze this trade idea!
A 2023 prediction all of this will be disqualified if 18.2k breaks, im sure it wont.
this month will end summer and with summer comes pain so this could be the last month of the bears
good luck
Market continues betting on another US 50 bps rate hikeEUR/USD 🔽
GBP/USD 🔽
AUD/USD 🔼
USD/CAD 🔼
XAU 🔼
WTI 🔽
A tight labor market and slowed inflation have increased market anticipation for another 50 bps interest rate increase from the US Federal Reserve, thus strengthening the greenback against its peers. EUR/USD declined and stabilized at 1.0260, finally closing at 1.0258. GBP/USD fell to 1.213, with forecasts of lower Average Earnings on Tuesday.
The latest meeting minutes from the Reserve Bank of Australia will be available tomorrow morning, given the gradual economic recovery in China and Australia being less impacted by inflation, the Aussie was slightly cheered to 0.7121 with minor gains. The USD/CAD pair was relatively stable at 1.2773.
WTI oil futures went further down to $92.09 a barrel, as investors received reports from Iran about a possible thawing of diplomatic relations, while Saudi Arabia’s leading oil producer is ready to boost production.
Gold prices reached $1,815.5 an ounce, thanks to a strong dollar. Bitcoin just surged over $600 to $24,822.8.
More information on Mitrade website.
USOIL ! dropping to 70$ very bearishUSOIL still holding from the resistance zone. dxy dropping to hard but oil is not bull. Maybe the price
continue to drop lower low
USOIL ooking up 🦐USOIL on the 4h chart bounced over a monthly support.
The market after the test of the 88 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.
Wit forecastWti is showing us a good reversal from 87 levels targeting at least 150 to 180$/barrels.
WTIOil in a bit of trouble here, likely entering a 6-10 month bear market correction. Downside target can hit the 618% of the entire 5 moves off the 2020 lows when WTI went negative.
Currently a lower time frame A wave has bounced off the 618% fib retracement level of the 5th wave. But we must correct that entire 5 up not just the 5th wave. We should bounce into a B wave soon on the daily
before making the larger C wave down close to $80. After that The HTF weekly A wave is complete and bounce again into HTF weekly B wave before finally nuking to $50 wave C to complete the entire move. You better BTFD IMHO guys because after this is done oil prices likely to run back turbo over $130.
Bitcoin to Crude ratioI think about the ratio in terms of miner stress; for instance with the defi summer rally the oil denominated chart showed that (in oil terms) BTC was already coming into ATHs at ~10kUSD. I.e. input costs were accounting for roughly the same percentage of production for miners while the Fiat price they can realize on that stock was half as much. You can tease out analogous signal from the ATH lower high/ bear div from this cycle.
USOIL is evaporatingOil has to fall if the global fight against inflation needs results.
Inflation Reduction Act of 2022 gives us fresh ammo to short the oil.
Watch for the downward supports:
Support 1 - 85.5
Support 2 - 77
