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Usoilforecast

USOil | New perspective for the week | Follow-up detailA record number of new coronavirus cases in China (the world's highest importer of crude oil) coupled with the inability of the EU to agree on a price cap for Russian oil Crude prices resulted in a plunge in price as the price fell for a third straight week. From a technical standpoint, it is obvious that price action has been caught within a channel ($93.50 and $87.00) in the last couple of months to emphasize the indecision in the market. However, it is worth noting that the lower timeframes reveal that price action has continued to find lower lows and lower highs in the last 3 weeks to signal a possible bearish continuation in the new week but we can not ignore the possibility of a breakout of the bearish trendline to incite a reversal structure. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, and risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
USOIL Long Strategy / Flip.What has really happened? Drawing from reserves? Pushing the price cap narrative? They are all temporary relives, just like a plaster/bondage on a wound. Chinese demand will pick up and war continues, and latest developments around south korea... I believe the Oil Rally is far from over, and the longer the spring is tried to be controlled/held, the harder it will be released back up. With OPEC+ Set to meet this week, and the possibility of reduction of production, intimation of South Korea, WTI prices will also be effected indirectly for sure. I believe the strategy is pretty forward with 3 TP targets on long, and should we cut our losses and move short before longing again, 1 TP for short. TVC:USOIL
TVC:USOILLong
by TheHopinionist
USOil | New perspective for the week | Follow-up detailThis is a follow-up video to my previous publication on this commodity where we closed the week with over 1,000pips in profit (see link below for reference purposes). The price of oil dropped by about 10% during the course of last week trading session and this is likely due to concern about weakened demand in China and further increases to U.S. interest rates. From a technical standpoint, we must keep our expectation open for the week as the tendency of price going either way becomes stronger as the weeks go by. The breakdown of the key level at the $85 level is a strong bearish and we are not sure if a retest of this structure will happen before another phase of decline in price. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
USOil | New perspective for the week | Follow-up detailIt is fact that WTI crude oil gained about 10% in October following the OPEC+ decision to cut oil production but it doesn't appear that decision is making a significant impact as the price is unable to break out of the $93.50 area in the last couple of weeks. From a technical standpoint, price action is caught within a consolidation phase between the $93.50 and $86.00 zone to emphasize the indecision in the market as we head into the new week. So, a piece of caution is needed at this juncture in the market as anything could happen here. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
TVC:USOIL
by darcsherry
6
USOil | New perspective for the week | Follow-up detailWe have been on a profit spree since taking advantage of the breakout of the most anticipated key level at the $86.00 zone. On Friday, we witnessed a 5% rally in the price of oil, and this is not unconnected to China's decision to ease the COVID-Zero policy and the market overreacted accordingly. Remember, China is the largest importer of Oil hence the ability to drive volatility. From a technical standpoint, as the price edges towards the $93.50 level, I am of the opinion that we wait and see how the price reacts to this level before either making a decision of adding to the existing buy position or hedh=ging out of the position. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
TVC:USOIL
by darcsherry
2
Crude Oil Volatility Forecast 7-11 November 2022 Crude Oil Volatility Forecast 7-11 November 2022 We can see that this week our volatility is at 6.63% which declined from 6.88% last week. Currently according to ATR we are on 61th percentile, and according to OVX we are on 85th percentile, indicating in both cases, that we are currently is volatile market. Now, based on the implied volatility data that we have for this week, lets look into further details. We can see that currently there is 29.1% chance, that our candle is going to close at the end of the week either above/below the next channel TOP: 97.25 BOT: 84.73 This can also be translated as a 70.9% chance that the market is going to move within this established range. At the same, looking at the previous high/low values of the candle, and taking into account the entire history available of data, we can expect that there is going to be a 71% chance that we are going to touch the previous high of 93.05 30% chance that we are going to touch the previous low of 85.5
NYMEX:CL1!
by exlux
USOil | New perspective for the week | Follow-up detailThis is a follow-up detail to my previous analysis of this commodity where we closed the week with approximately 200pips profit. Oil prices plunged about 1% on Friday after top crude oil importer China widened its COVID-19 curbs, though the price of oil rose during the course of last week's trading session after a significant breakout of the much anticipated $86.00 level to set the tone for a bullish momentum in the coming week(s). Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOTLong
by darcsherry
1