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Crude Oil Brent

CRUDE OIL (WTI): Consolidation & Complete Indecision 🛢️ WTI Crude Oil is consolidating within a range on a daily since the beginning of November. Depending on the reaction of the price to its boundaries, I see 2 potential scenarios. Bullish Scenario If the price breaks and closes above 80.85 - the upper boundary of the range, I will anticipate a growth to 82.50. Bearish Scenario In case of a breakout of 72.20 support, we may anticipate a bearish movement to 87.35 level. Wait for a breakout, that will give you a strong bullish or bearish confirmation. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
1
Crude Oil Futures ~ November TA V2 (4H Intraday)NYMEX:CL1! chart mapping/analysis. Note: TradingView chart B-ADJ adjusted for contract changes. What's on the chart: Converging parallel channels (light blue) aka diamond box pattern, framing price action into a pennant formation on higher timeframe. Descending parallel channel (white) emphasizing current downward trend since late September peak. Fibonnaci levels highlight key support/resistance zones. Short-medium term outlook: Sharp reversal (short-squeeze?) from over-selling after breaking out lower range of parallel channel (white). Bullish reversal = rally back above 50% Fib. Bearish continuation = further selling below previous low towards 78.6% Fib / lower range of parallel channel (light blue) confluence zone. Watch for commodity trading trend/sentiment in either direction - leading into upcoming OPEC+ decision re: 2024 supply cuts, TBC.
NYMEX:CL1!
by BlueHatInvestor
UKOIL potential downtrendThere is a possibility that the UKOIL, a trading instrument representing the price of crude oil in the United Kingdom, might experience a downward trend. The recommended take-profit (TP) level is at 77.2, while the suggested stop-loss (SL) level stands at 84.25. However, it's crucial to emphasize that engaging in any financial trading activity carries inherent risks. The TP and SL levels provided are merely speculative and based on an analytical idea or forecast. The volatility and unpredictability of the commodities market, especially concerning oil prices, are influenced by multifaceted factors such as geopolitical tensions, global demand-supply dynamics, economic indicators, geopolitical events, and unforeseen natural disasters, among others. This inherently complex and dynamic nature of the market renders any predictions subject to change or deviation. Investors and traders should conduct thorough research, employ risk management strategies, and exercise caution when making financial decisions. It's advisable to consider various sources of information, consult with financial advisors or experts, and assess one's risk tolerance and financial objectives before executing any trade based on speculative forecasts or trading ideas. Moreover, the terms TP and SL denote the take-profit and stop-loss levels, respectively, indicating the targeted price at which a trader aims to close a position to secure profits or limit potential losses. These levels serve as guiding markers, aiding traders in managing their risk exposure and ensuring disciplined trading practices. Nevertheless, it's essential to remain vigilant and adaptable in response to market fluctuations and unexpected developments that might impact the price movements of UKOIL. In conclusion, the forecast suggesting a potential downward movement in UKOIL with specified TP and SL levels should be regarded as a trading idea rather than a definitive prediction. Engaging in financial markets demands informed decision-making, risk awareness, and a comprehensive understanding of the intricate dynamics driving commodity prices. Traders are encouraged to exercise prudence, stay updated with market trends, and use analytical tools while acknowledging the inherent uncertainties associated with trading.
TVC:UKOILShort
by ArminMah
TradePlus-Fx|USDCAD: two goals💬 Description: The key price movements happen around the level of 1.38271 for the USDCAD currency pair. A particularly important point for traders trading on a breakout. Now the instrument has accumulated enough strength, and there is also all the technical base for a comfortable entry into a long position. The next two days will accumulate important data from the United States , against the background of which the currency pair will most likely grow. Here we identify two goals for ourselves, locating the second goal at the level of 1.39775. We cannot rule out manipulations of various kinds, such as a false breakout, and must be prepared for another entry attempt. 🔔 FX CALENDAR TODAY 🔔 🛢IEA Monthly Report 🇩🇪ZEW Economic Sentiment 🇪🇺ZEW Economic Sentiment 🇪🇺GDP 🇺🇸CPI 🛢API Weekly Crude Oil Stock ➖➖➖➖➖➖➖ 🚀Thank for your BOOSTS 🚀 👇Share your views and FOLLOW US 👇
Long
by TradePlus-Fx
33
Crude Oil Futures ~ Golden Pocket Support (2H Intraday)NYMEX:CL1! intraday mapping/analysis. Crude Oil Futures finding support on Golden Pocket + lower range of descending parallel channel (white dashed) confluence zone after flat bottom break, while hovering above lower range of ascending parallel channel (green) + 66% Fib confluence. Price action accumulating while digesting recent sell-off Bias leaning towards bullish reversal to re-test break aka "return to scene of crime", TBC Heavy confluence zone(s) underneath to keep price elevated (unless wrecked by major economic/geopolitical news catalyst) Breakout above accumulation to validate bullish reversal &/or tap parallel channel (green) + 66% Fib confluence & rip back up to trigger fake dump/liquidity grab Eyes on US Yields for correlation (linked via Related Ideas) Set alerts - wait for trade to setup - hyper-awareness for potential oil manipulation by either OPEC+ or US (SPR refill narrative)
NYMEX:CL1!
by BlueHatInvestor
Crude Oil Futures ~ November TA Outlook (4H Intraday)NYMEX:CL1! chart mapping/analysis. Note: TradingView chart B-ADJ adjusted for contract changes Crude Oil Futures capitulating from early October rally despite ongoing Middle East tensions & geopolitical uncertainty. Only macroeconomic narrative/headwind that would override war escalations is increasing probability of global recession-induced demand destruction, IMO. Notes: Flat bottom pattern development = bias towards bearish price action, TBC. Crude Oil = highly manipulated trade with ongoing short-risk from Saudi Arabia &/or Russian market intervention - trade at your own risk to capital.
NYMEX:CL1!Short
by BlueHatInvestor
UKOil Brent Technical Analysis And Trade IdeaIn this video, we embark on a comprehensive analysis of UKOil, with a specific focus on the prevalent bearish sentiment observed in the 1-month (1M) and 1-week (1W) timeframes. Notably, our charts reveal that Brent has approached a critical support level, a pivotal juncture. Throughout this presentation, we delve into the fundamental tenets of technical analysis, encompassing essential components such as evaluating the current market trend, price dynamics, market structure, and other indispensable aspects of technical analysis. As we progress through the video, we meticulously scrutinize a potential trading opportunity in Brent Oil. It is imperative to stress that the insights shared in this content are exclusively intended for educational purposes and should not be misconstrued as financial advice. Participating in the foreign exchange market trading carries a significant level of risk. Therefore, it is vital to prudently incorporate robust risk management strategies into your trading plan to navigate these challenges effectively.
TVC:UKOILShort
by tradingwithanthony
Oil says nothing flattering about the global economyWest Texas Intermediate crude oil hit our price target of $80 and continues to slide lower. At the moment, it trades slightly above $76, which marks a decline of nearly 20% from the highs in late September 2023. Today, we want to talk concisely about two things. First, China’s demand for oil began to slow down again after slightly picking up during the summer, which is reflected in the latest data revealing the rising level of the country’s stockpiles (do not forget, China also experienced a significant drop YoY in exports for October 2023). Second, Saudi Aramco posted 23% lower net income in the third quarter of 2023 versus the same time in 2022. All in all, we presume that does not tell anything flattering about the global economy. Technical analysis Daily time frame = Bearish Weekly time frame = 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:USOILShort
by Tradersweekly
8