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Crude Oil WTI

WTI OIL Bullish Divergence aiming higher.WTI Oil (USOIL) has been consolidating within the 1D MA200 (orange trend-line) and the 1W MA200 (red trend-line) for a full month. We have previously seen the same king of consolidation in mid-2023 and then November 2023 - January 2024. On both occasions, the price then entered a medium-term Channel Up. Also on all occasions, the 1D RSI was on Higher Lows, while the price has been on Lower Lows, which is an indication of a Bullish Divergence. It is the exact same formation that Oil is currently on. As a result, we turn bullish on Crude for the medium-term, targeting $84.00 (just above the 0.618 Fibonacci retracement level and on the Lower Highs trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
USOIL: Short-term oil prices are on the way to recovering to $80USOIL: Short-time period oil fees are at the manner to convalescing to BSE:EIGHTY because the marketplace is presently watching for the subsequent OPEC+ meeting. However, the chance of a lower is fantastically excessive due to the fact OPEC+ nations have nearly all showed the growth in production. This will probably reason oil fees to drop even lower. Consider ready to promote with USOIL around BSE:EIGHTY with the anticipated goal to go back to $75-76
TVC:USOILLong
by Chart_MasterPro
Event-Driven Strategy using WTI Weekly OptionsNYMEX: WTI Futures ( NYMEX:CL1! ) and WTI Weekly Options ( GETTEX:LO5 ) OPEC+, the coalition of the world’s leading oil producers, will convene on June 2nd to decide production policy for the second half of the year. The powerful oil cartel consists of 13 OPEC members and 9 nonmember participants, and together produces about 59% of global oil production. This amounted to 48 million barrels per day (mn b/d) in 2022, estimated by the US Energy Information Administration (EIA). Many analysts expect OPEC+ to continue the voluntary cut of 2.2 mn b/d, due to expire at the end of June. This voluntary cut, introduced in November 2023, adds to 3.6 mn b/d of production cut that have reduced the members’ crude output by about 5.8 mn b/d, or about 5% of global supply, since November 2022. I consider the move an attempt to shore up prices against higher US oil production and an uncertain economic outlook in China. OPEC+ meeting is a significant event in the global crude oil market. We could liken its importance to that of the Federal Reserve meetings for equities and bonds. The group’s decision could tilt the balance of supply and demand one way or the other. Here are three possible outcomes: • No change: To renew existing cuts of 2.2 mn b/d through the end of the year. • Additional cuts. This would reduce global crude oil supply. • Ease of cuts. This would release more oil to the global market. The oil market may stay calm if the OPEC+ decision conforms to investor expectations of no change. A surprise announcement of additional cuts would likely send oil prices skyrocketing. But any pullback from current cuts could sink oil prices down. This provides a good setting for event-driven trading strategies. Monitoring Crude Oil Market Sentiment Real Time For a trading strategy to work, the trader needs to understand the market sentiment ahead of the actual event. While analysts give out opinions, it is the investors who put money in their mouth. Therefore, for unbiased decision making, we should look into trading data. The CME Group OPEC Watch Tool is a great analytical tool for crude oil traders. It uses NYMEX WTI crude oil option prices to calculate the probabilities of certain outcomes from the nearest weekly and monthly options that expire around the OPEC meeting. In essence, it uses actual trading data, and go the extra mile to transform it into useful insights. This valuable tool is free and can be accessed via CME Group website. The title chart includes a snapshot of CME Group OPEC Watch Tool. As of May 26th: • OPEC Watch Tool expects a 79.1% probability of no change; • There is a 18.8% probability of ease of cuts: • Additional cuts remain a remote probability, at 2.2%. I would like to point out that the market often exhibits overly pessimistic or overly optimistic sentiment. OPEC Watch Tool shows the collective wisdom of crude oil options traders. However, the trades are not scientific forecast. Market sentiment could change very rapidly. With this in mind, we need to closely monitor it with real-time trading data. If, through independent analysis, a trader establishes an opinion very different to what the market suggested, he or she may express it with a trade position and wait for the market to correct its faulty assumptions. Trading with NYMEX WTI Weekly Options We could consolidate the three possible OPEC+ decisions into two: • Within Expectation. No changes. • Exceeding Expectation. More cuts or less cuts. Investors expect OPEC+ to maintain its current cuts. If that turns out to be the case, oil prices may not move much following the announcement. If a trader hosts this view, how could he or she turn it into a trade strategy? The trader could consider selling short-dated out-of-the-money (OTM) WTI crude oil options. The July WTI futures contract ($CLN4) settled at $77.80 a barrel last Friday. Selling OTC strikes on WTI weekly options would enable the trader to collect an upfront premium. The first Friday after the OPEC+ announcement is June 7th. The weekly options ($LO1M4) will last only 12 days before its expiration. How do we select options strikes to sell? There are really no rules of thumbs. For illustration purposes, let us pick an OTC call strike approximately $5 above current market price, and a put strike about $5 below. • Last Friday, the 82.75 call strike settled at 17 cents. Each WTI weekly option contract has a notional value of 1,000 barrels. Therefore, the trader would collect $170 premium for selling 1 call. • The $72.75 put strike settled at 29 cents. The trader would get $290 for selling 1 put. • If the trader sells 1 call and 1 put, he or she could collect $460 for just 12 days. Words of warning for options sellers: • CME Group requires options sellers to deposit $6,001 margin for each July contract as the time of writing. Therefore, this strategy requires an investment of $12,002 for both call and put. • If OPEC+ acts as expected and the oil market stays calm, the trader would get the margin deposit back when the options expire worthless. • However, if oil prices move up above the call strike, the trader could incur a loss, potentially wiping out all the margin deposit, and probably more. • If oil prices drop below the put strike, the trader would also experience a loss. If the trader holds an opposite view, he or she could buy the OTC call or put options, depending on which direction the trader is leaning towards. For a small upfront premium, the trader could establish a position on crude oil, and potentially collect a big payout if OPEC+ changes heart. For those who are uncertain of which way OPEC+ would go, but are convinced that they would change courses, traders could buy both OTC calls and OTC puts at the same time. This is an example of options strangle strategy. Happy Trading. Disclaimers *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
NYMEX:CL1!Long
by JimHuangChicago
WTI Oil H4 | Pullback resistance at 50% Fib retracementWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 78.41 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 79.30 which is a level that sits above the 61.8% Fibonacci retracement level and a pullback resistance. Take profit is at 76.59 which is a pullback support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
Let's see if it can climb back above the 78-dollar markEASYMARKETS:OILUSD Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EASYMARKETS:OILUSD
by easyMarkets
USOIL Will Grow! Long! Take a look at our analysis for USOIL. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 78.14. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 82.95 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILLong
by SignalProvider
1
USOIL Technical Analysis! SELL! My dear friends, USOIL looks like it will make a good move, and here are the details: The market is trading on 77.75 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 77.07 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
TVC:USOILShort
by AnabelSignals
1
OIL: DAY 3 SHORTS in the marketHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” Let’s jump into the Technical Analysis: WEEKLY TEMPLATE (1hr chart): Since the previous week, we can see how this market potentially could complete the big template of pump and dump, scenario still possible if setup correctly. OIL market triggered shorts breakout traders in, typical a signal of potential strong move. DAILY TEMPLATE (15min chart): Asia session broke down into the LOW, reversing sharply in London session (pump). Currently this market is not in an interesting level to buy or sell. THESIS : Short: considering the weekly pump and dump not completed yet, I can see this market going lower, stopping all the traders long since the last week. Long: however, day 3 shorts in the market, in the new weekly cycle, can be a good reversal signal, going to stop traders short from Monday. SETUP : Short: price pumping up back to the previous HOD, consolidating for 30/45 min and dump (after the news release) Long: Market dropping down at least into the previous CP, or LOD/LOW, consolidating for a pump (this scenario is mostly likely happing on tomorrow, which is closing range of the week) Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni
PEPPERSTONE:SPOTCRUDE
by GianniPichichero
6
CRUDE OIL (CLN2024, USOIL, WTI)... BEARISH!Bias is Bullish. Daily TF shows 2 weeks of consolidation supported by a Daily +FVG. Friday finally saw a "BO" as price traded through the swing high with a close above it. Note that price is now inside the a Daily -FVG. Potential for a bearish reaction? Yes. However, I believe it will be short term if anything. The 4H gives more detail. One can see bullish structure in place that will support a move higher, potentially to to test 80.21. Thank you for viewing! Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! May profits be upon you.
NYMEX:CL1!Short
by RT_Money
4
USOIL: Oil prices have turned downUSOIL: Oil fees have became down. In the fast time period, there are symptoms and symptoms of breaking the preceding growing channel. Besides, the fast-time period accumulation region around $77 -seventy nine is likewise displaying a main weak point withinside the context that OPEC+ has finished its discount goal and is making plans to boom production. In the fast-time period destiny scenario, it's far in all likelihood that OIL will drop to deeper charge levels. You can watch to promote with short-time period expectancies of around $75/1 barrel.
TVC:USOILShort
by Chart_MasterPro
USOIL Will Go Lower From Resistance! Sell! Here is our detailed technical review for USOIL. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 79.46. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 77.06 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILShort
by SignalProvider
1
WTI Oil H1 | Rising into resistanceWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 77.74 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 78.50 which is a level that sits above the 38.2% Fibonacci retracement level and a pullback resistance. Take profit is at 76.68 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM