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Oilusdanalysis

Crude oil trading strategy Through the analysis of the hourly chart of crude oil, we know that the last trading day first fell, then rose and then fell. The pressure that reached the middle track of the Bollinger Band above was blocked and fell back. We can clearly see from the picture below that the main bulls continued to intervene in the bottom area of the market. , in the short term, there is currently a top-bottom-raising movement, which is very likely to break through the suppression of the middle track of the upper Bollinger Bands with heavy volume. In the short-term below, we focus on the support of the upward trend line. In terms of operation, we continue to think high, low and long, focusing on going long on dips. Specific suggestions are as follows: Crude oil buy84.20/83.20 TP 85.5-85.8 Crude oil SELL 85.8/87.5 TP 83.5-84.5
TVC:USOIL
by Krause_Philipp
Why hasn’t crude oil skyrocketed? There has been a lot of fundamental news in crude oil trading recently, with hospitals and schools in Gaza being bombed, and Iran calling for an oil embargo. Why haven’t oil prices exploded? Three major factors indicate that oil prices are in a storm! 1. OPEC+ has no plans to hold a special meeting and take immediate action. Judging from OPEC+'s recent statements, it expects global oil demand to remain optimistic in the second half of the year (Saudi Aramco CEO predicts that global oil demand will reach 1,030 barrels per day in the second half of this year), and the oil market situation is balanced and reasonable. In addition, if there is a sustained oil supply shortage in the market, OPEC+ may even increase production in 2024. The oil market currently has 3 million barrels per day of spare production capacity. 2. The Venezuelan government and the opposition reached an agreement on the presidential election. On Wednesday (October 18), the U.S. Treasury Department issued a suspension order authorizing transactions with the Venezuelan oil and gas sector, which is valid for 6 months. Venezuela's crude oil exports exceeded 800,000 barrels per day in September, the second-highest monthly export rate since the beginning of the year, and its oil exports are expected to rise further. However, due to Venezuela’s backward infrastructure, the short-term impact on the oil supply side is expected to be limited. 3. U.S. bond yields hit multi-year highs. U.S. retail sales in September announced on Tuesday (October 17) were stronger than expected, showing that consumer enthusiasm is still high. JPMorgan Chase raised its third-quarter U.S. real GDP growth forecast from 3.5 % was revised up to 4.3%. The market is betting that the Fed's interest rate cut will be further postponed to the third quarter of next year. The 10-year U.S. bond yield exceeded 4.9% intraday on Wednesday (October 18), reaching a maximum of 4.934, just one step away from the 5% level. To sum up, the author believes that oil prices are already in a "storm". Although oil prices are in a "dilemma" in the short term, when more oil supply and demand factors are involved, this often means that a new round of unilateral market may be about to occur. It is foreseeable that if the situation in Gaza worsens further, it will further unite Arab countries. In addition, once Iran joins the conflict, the possibility of Iran blocking the Strait of Hormuz cannot be ruled out, which may cause oil prices to hit the resistance above $100. On the contrary, if the situation in Gaza cools down, oil prices may give up the gains made in the past two weeks. In addition, Federal Reserve Chairman Jerome Powell will deliver his last speech before the "silence period" in the early morning of Friday (October 20). As U.S. Treasury bond yields continue to surge and financial conditions tighten, it is expected that Powell will be more likely to release "dovish" remarks, which may be beneficial to short-term market sentiment. Emergencies based on conflicts in the Middle East may appear at any time, and crude oil is more likely to rise again in the short term. For short-term operations, enter quickly and exit quickly, and don’t be greedy for profit expansion. Short-term operation suggestions: OIL buy:86.5 -87 tp150pips sl 86 Since the crude oil prices in the delivery accounts are different, we need to buy within a reasonable range based on our own crude oil prices. Traders who need help in trading can join me, maybe you will find a good trading helper
FX:USOILLong
by Krause_Philipp
[EN] Shoulder-Head-Shoulder in oil? // GaliortiTradingIn the more immediate term, EASYMARKETS:OILUSD accumulates a large oversold position. In the August/October period of this year there was a clear bearish divergence between the RSI and prices, which together with the proximity of the top of the bearish channel presaged a price correction. This has been the case. The proximity to the 200-session EMA makes us expect an immediate rebound as the most likely scenario. Likewise, the entry into a liquidity zone ($80-82) will facilitate this rebound. However, we believe that the weakness of the rebound will lead to a second wave of declines based on: - the breakout of the 200 EMA support in a second attack - having previously swept the buy orders from the liquidity zone . It seems to us that this fall will be fast and vertical until it reaches the bullish trendline of May this year. Consequently, EASYMARKETS:OILUSD could be developing a shoulder-head-shoulder chart pattern within its bearish channel that had been configured since the summer of last year. A return to the lower portion of the channel by the end of the first quarter of 2024 would not be out of the question. This analysis, from a technical point of view, could be favored by the performance of the dollar index (depending on the Fed's rate decisions ) and by the weakness of global demand if global GDP slows down as current data suggest, which will slow down industrial activity. Also, the development of the Ukrainian war could condition Russia to unilaterally increase its production in order to finance its spending. We do not expect a supply/demand shock, but we do expect a downward restructuring of demand . The production restrictions of the other OPEC members to keep oil prices stable may be partially offset by China's objective to increase its production in order not to depend so heavily on the outside world. Pablo G.
EASYMARKETS:OILUSDShort
by GaliortiTrading
5
Crude Oil in 4H time Frame.Hi Everyone, Please see updated 4H chart, Oil already hit the support around 86 ready to test the key point at 90, if break there is likely 2 possible upside moment. as we can see the oil will make range until the fed release their new hike Interest rates. we also need see the next coming geopolitical movement from Russia , China and USA. The oil embargo will also have an impact on price movements. first possible range(4h - 1D): 80 - 110 USD second possible range (4h - 1D): 75 - 103 USD i try to always we will keep you all updated . Please don't forget to like, comment and follow to support us, i really appreciate you support ! Goodluck i'll help you to have a great trade. Please using good money management. dont take any emotional trade. Note: Dont risk more than 0.2% on trending market Dont risk more than 1% on ranging market Wish good luck for all people. Please help support me by Clicking like button, and if you like my ideas please follow me and support me. i Relly Appreciate it! i'll make more and more great analysis if this chanel grows. on Gold , Oil , Nasdaq, SP500 , and some American, China, Japan, Indonesia stocks. Best luck for you. Cheers mate! Thankyou.
NYMEX:CL1!Long
by LaurentWilvyne