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Usoilprediction

Crude: Time to Close the Long Position! Expected to Fall Oil had a very nice rally (30%) since November, also the OPEC+ decision of cutting supply of 2M barrels/day has pushed the prices to $60 level. From April the Saudi is planning to increase the crude oil production to 12.3M Barrels/Day. The Increased supply, reduced demand from China, Oil entering in to the strong technical resistance area etc. factors expect to contribute to pushing the OIL prices down to $54’ish area in the coming weeks!
TVC:USOILShort
by Prasad_Ari
2
US OIL is now BearishThis has been very steadily grinding downwards and is now entering a Bearish environment again. I think this will reject off the lower trendline that it broke yesterday, it is just below this now. From here I have set 3 targets for TP that can either be held or swing traded. If this does reject the trendline mentioned the SL can be just above this. I do think this could drop even further as indicated by the Fibonacci at 0.382 ($46.19) but it is very risky to hold a short and expect it to reach there.
TVC:USOILShort
by olly48
Oil Hedge Buy OrderOil Long Position Entry: $53.07 TP & RR: $54.12 (2.49) Stop Loss: $52.76 REASONS FOR THE TRADE If you followed my trade idea from yesterday, then you should have an open short position at $53.55. I was expecting a lower high, but instead, the price formed a double top. Our SL wasn't hit. Anyway, I believe a new uptrend channel has formed and in order to secure your profits from the short yesterday, I suggest moving your Stop Loss as well as considering a hedge long position. Should this trade idea prove valid, you will be piggybacking on the small uptrend until we reach the upper channel. If it turns out to be invalid, then part of your short order will cover the losses for this long. Stop Loss is under the lower trendline and the target is set at the upper one.
TVC:USOILLong
by Quant_
OIL ON THE DECLINE - BACK TO 50% DECLINE @$32Oil has started to form a double top around the $53 region with a key fib level of 0.786 @ $51 being broken recently and the price will most definitely return back to it. I'm anticipating a big drop, either immediately or via a delayed move back down to the 0.618 fib via H&S which if broken could see a drop to the 0.5 fib @ $32 acting as strong support. With the pandemic ceasing to let up and the new strains emerging, aviation being severely limited and Biden who is keen to deviate away from oil going forwards, there is only so much a vaccine and OPEC cuts can do but having said that, I still have my shorts open from $46 which haven't gone to plan. With a new short at $52 opened, I am hoping the long-term awaited correction will occur. Leave a like if you agree or feel free to comment. Happy trading all!
FX:USOILShort
by bhavik3691