Crude oil shock adjustment
Crude oil we saw a bottoming out last week, did not continue after the decline, but formed a V-shaped reversal, began to continue to rise, and is now entering the upward phase. The resistance above is also obvious, the current strong resistance is around 74.7, as long as there is no breakout, you can choose to go long at the low level
Crude Oil Personal Trading Strategy:
usoil:buy@70-70.5 tp71.2-71.6
Next, I will continue to provide more trading signals, and the weekly profit can reach more than 5K-10Kusd. I need signals to join me as soon as possible!
Usoiltrade
Saudi Arabia boost oil price with output cutI have some exciting news to share with you today. Saudi Arabia has recently announced their plan to boost the oil price by cutting their output by 1 million barrels a day. This is excellent news for the oil industry and presents a fantastic opportunity for investors like you and me.
As you know, the oil market has been volatile in recent years, but with this announcement, we can expect a significant rise in oil prices. Therefore, this is the perfect time to invest in oil futures and exploit this exciting development.
I encourage you to act fast and invest in oil futures today. This is an opportunity that you don't want to miss out on. With Saudi Arabia's commitment to reducing its output, we expect a steady increase in oil prices over the coming months.
Let's exploit this exciting opportunity and invest in oil futures today. I look forward to seeing the positive results of this decision shortly.
Crude oil will break through the straight line and accelerate up
Crude oil fell back today and bulls rose again, and the point of decline was also very close to the expected point, but there will be normal shocks in the rise, and if there is a fall, there will be new long opportunities.
Crude oil closed positive on a daily basis and broke through the range high, indicating that the recent sideways correction has ended, and the market is once again not as good as the bulls.
Trading strategy
buy@73.90 tp1:74.70 tp2:75.9
Next, there will be many trading opportunities for crude oil. I will provide you with more signals. Don't miss the opportunity to make money!
USOIL:Today's trading advice
On the fundamentals, it is still in a state of intertwined long and short positions. The optimistic expectations of short-term debt negotiations have given the market some support. Coupled with the recent strong demand for gasoline, there is a certain positive stimulus for crude oil in the short term. However, there is currently some uncertainty about the production cuts promised by Russia, which has led to a more cautious attitude in the market. Last trading day, crude oil fell back to near 70.7 after the shock, and it rebounded to near 72.5 in the evening. The short-term range is still not broken, and the range opportunity can continue to be maintained.
Today's trading advice
usoil:sell@72.4-72.9 tp:71.8-71.3
usoil:buy@70.7-71.2 tp:71.8-72.4
As long as you keep up with my signal, you can make more money
Crude oil shorting
After the price rebounded slightly, the five-minute pattern peaked again, conforming to the one-hour bearish cycle, the rebound can be regarded as a correction to the downward rebound that began on Friday, so I will continue to wait for this opportunity tonight
Trading strategy:
sell@71.8 tp1:71 tp2:70.8
Next, there will be many trading opportunities for crude oil. I will provide you with more signals. Don't miss the opportunity to make money!
Crude oil transaction analysis
The U.S. debt ceiling negotiations failed to reach an agreement last week. Although they will continue on Monday, there are some concerns in the market, which put pressure on oil prices, and U.S. Treasury Yellen's speech on the possible need for more bank mergers has also increased market concerns about the banking turmoil and crisis.
At present, it is already showing a weak trend, but the support of the uptrend line below is relatively speaking, and it is expected that the narrow volatility adjustment will continue in the short term. In terms of operation, we will continue to short at a high level.
Trading strategy:
USOIL:sell@72.7-71.7 tp71-70.7
Next, I will continue to provide more trading signals, and the weekly profit can reach more than 5K-10Kusd. I need signals to join me as soon as possible!
Today's crude oil trading advice
On the one hand, optimistic economic data eased the demand concerns caused by the recession, and on the other hand, inventory pressure continued, leading to the current crude oil entering a contradictory stage. Yesterday's crude oil volatility can be said to be the smallest in the near future, and the market is also paying attention to the new round of guidance.
usoil:sell@73-73.3 tp:72.2-71.6
If you want to get more signals, please keep paying attention to me, and I will take you to make more money and realize your dreams.
Crude oil won a big victory today
I am really happy that the trading signals shared with you today can make you a good profit. Next, I will always provide you with more accurate trading information. Join me and I will make everyone gain something every day.
Next, I will continue to provide more trading signals, and the weekly profit can reach more than 5K-10Kusd. I need signals to join me as soon as possible!
USOIL Top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USOIL 10 Dec 22The timeline of China’s economic rebound frames the demand outlook in the crude markets, which remain rattled by concerns over broader global appetite for transport fuels amid mounting inflation rates and recessionary signals.
On the supply side, energy markets await further clarity on the Russian production impact of an EU ban that came in force on Dec. 5. Alongside it’s implementation was a program by the G-7 largest global economies that seeks to facilitate shipping and transport services for non-G7 Russian purchases transacted under a price cap.
The Brent crude contract for February delivery was trading at $76.13 per barrel at 11:55 a.m. London time Friday morning, down by 2 cents from the Dec. 8 settlement. The front-month Nymex WTI contract was at $71.79 a barrel, adding 33 cents from Thursday’s close price.
source: CNBC
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🧅Disclaimer :There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, and money market funds involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods. This is Not Financial Advice
🧅JUST AN OPINION OF THE ONION.🧅
How is oil trading amid expectations of an economic downturn?
The panic brought about by successive bank bankruptcy, the market expects that the European economy will enter a recession, and the demand will drop sharply, leading to a general decline in commodities. Crude oil has fallen below $70 yesterday. If it falls below $60, it is expected to continue to fall to around $43 , which is very large space.
If the bankruptcy incident can be stopped, the panic will no longer spread, the market will restore confidence in the European economy, and once again raise expectations for demand, oil prices will return to above $80 again.
From the perspective of technical form, it is still in a downward channel. If it does not fall below 65, we do not rule out the probability of a short-term double bottom. If we do not retest around 65 again, for the rebound market, we only see the 69-71 range. , there is a very strong resistance around 71-72. If it can break through, the technical form can go up further.
At the same time, it needs the cooperation of the news. If the panic cannot be controlled, we may have to short first and wait for 60 Look at the support situation nearby. If the decline stops, then there will be a greater opportunity to go long.
Traders, if you like my sharing, please follow and support me. I will post more interesting trading information involving gold , crude oil , forex, cryptocurrency, and stocks. If you have any questions, please leave a message in the comment section, and I will answer them for you.
USOIL: How?GAP is defined as the gap between 2 consecutive trading sessions (or 2 candles). GAP is determined based on the closing price of the previous candle and the opening price of the following candle. Under normal conditions, the closing price of the previous session will be the opening price of the immediately following session.
USOil | New perspective for the week | Follow-up detailFollowing approximately 2,000 pips in profit last week (see link below for reference purposes); we took a fresh new look at the chart as US Oil prices hit their lowest point since December 2021. I think the slump in oil prices this time, had little to do with supply-demand but more with the crisis of confidence at banks that provide the liquidity for trading this commodity and the potential interest rate hikes by the Federal Reserve have also led to fears that the US economy could end up in a recession. In this video, we took a technical dissection of the current market structure and identified a simple structure that we shall be using to guide trading activities in the coming week(s).
01:00 Reference to last week's daily commentaries and results
04:20 USOil Technical analysis on Daily chart
06:39 USOil Technical analysis on Weekly chart
09:00 USOil Technical analysis on 4H Timeframe against next week
10:30 Conclusion on next week's expectation for the USOil
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.
Bullish on crude oil, target 72
OIL broke through the resistance around 69.8-70 yesterday, and the resistance has now turned into support.
The new resistance is around 70.8. If the support does not break, you can go long USOIL.
The first TP will continue to be placed at 70.7 yesterday's TP. If Break through 70.8, the next TP target is 71.2-72.4.
SL temporarily set to 69.47
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USOIL: Bottom fishing, with potential return to $80 per barrel
US crude oil has fallen for three consecutive days, pushing oil prices below $70 per barrel. As the market continues to revise down expectations for economic growth, and rising crude oil supplies offset the boost from China's reopening and the instability caused by the Silicon Valley Bank (SVB) collapse and Credit Suisse crisis, the financial market is facing huge instability, which has led to a sharp drop in oil prices.
As the development of fundamentals continues to weigh on risk sentiment, US crude oil has extended its decline, breaking through the previous support (now turned into resistance) at the important psychological level of $70. As of Wednesday's close, US crude oil has fallen more than 12% this week, pushing the Commodity Channel Index (CCI) into oversold territory. At the same time, this round of decline has pushed oil prices towards the 200-week moving average (MA) of around $66, and oil prices have temporarily found support at this level.
Personally, I am bottom fishing and going long on USOIL at $66-68 per barrel. Due to the huge volatility of energy products, please control your position size. Only consider following my strategy if you have sufficient capital. Enter the market with a small position and aim for long-term profits, with a target of $80 per barrel on the upside.
I have conducted in-depth research on futures products such as cryptocurrencies, forex, stocks, gold, and crude oil. I also update my daily operation strategies. Thank you for your attention and support. If you have any questions, please feel free to leave a message, and I will provide the most secure advice. I hope I can help you.
USOIL:$78 next week is crucial
On Tuesday this week, the testimony of the Chairman of the Federal Reserve before Congress raised concerns about risk assets in the market. In this testimony, Powell stated that "if it is necessary, the Federal Reserve is prepared to speed up the pace of interest rate hikes, and terminal interest rates may be higher than expected." These words indicate that the Federal Reserve not only did not cool down the rising expectations for interest rate hikes over the past month, but also further pushed up the expectations for interest rate hikes.
Powell's speech caused shock in the market, as the market saw from Powell's speech a determination to lower the inflation rate at the cost of suppressing demand and employment. On that day, the US dollar index soared, risk appetite deteriorated, and US stocks fell sharply, accompanied by a sharp drop of 4% in oil prices from above $80 per barrel.
However, there was a reversal in oil prices on Friday. After testing the support at $74.5, the market quickly rebounded above $76 and successfully stabilized. Our long position in crude oil at $75 also reached the first take-profit level smoothly. However, there is still a certain distance from the recent high of $80, and the upper resistance level to watch is in the 76-78 area. This dense resistance area may limit the upward space. But if it breaks through $78, there will be an opportunity to challenge the $80 level again. Let's keep an eye on it, and I will update the trading strategy in a timely manner.
I have in-depth research on futures products such as cryptocurrencies, foreign exchange, stocks, gold, and crude oil, and I also update daily trading strategies. Thank you for your attention and likes. If you have any questions, please leave a message, and I will provide the most secure advice to help you.
Buy on dips below $75 for USOIL
As the Federal Reserve continues to raise interest rates and unwind its balance sheet, concerns over other US banks were raised following the "Silicon Valley Bank Incident", causing all three major US stock markets to fall. The S&P 500 Bank Index plummeted 6% last night, marking the largest single-day drop in two years. JPMorgan's stock price also fell 6%, resulting in a market capitalization loss of approximately $20 billion. Bank of America fell 6.1%, while Wells Fargo and Citigroup fell over 6% and 4% respectively. The four major US banks suffered a combined loss of $47 billion.
Silicon Valley Bank announced an $1.8 billion loss from the sale of part of its investment portfolio, and sought to raise $2.25 billion by selling common and preferred shares. The bank's "self-rescue measures" worried investors, causing the stock price to plummet by 60%. In short, the market believes that Silicon Valley Bank is facing a liquidity crisis. Without a doubt, the market's risk aversion sentiment has spread to the crude oil market.
After reaching $80, USOIL saw a sharp decline to below $75. Currently, there is a demand for a rebound in the market, and it is suggested to buy on dips below $75. Short-term technical rebounds and corrective trends for crude oil are expected, with a target focus on $77-80. I will continue to monitor the market and provide the latest strategies.
USOIL: Long position after a downward adjustment to $77
Despite the unexpected drop in API crude oil inventory providing support to oil prices, the hawkish speech by the overnight Federal Reserve Chairman has continued to help the US dollar index soar, which has raised concerns about economic recession and continued to put pressure on oil prices. Although there is a chance for the oil price to rebound and adjust after the overnight plunge.
Looking at the daily chart of USOIL, the upward trend has not been broken, and the support below has continued to rise. Although there is no effective breakthrough above $80, the adjustment range of this downward trend is sufficient, and it is a good opportunity to enter the long position again.
Personal trading strategy: Buy long position near $77-77.5, with the first target at $78.5 and the second target at $80, and pay close attention to the EIA data to be released tonight.
I have in-depth research on futures products such as cryptocurrencies, foreign exchange, stocks, gold, and crude oil, and I will also update some daily trading strategies. Thank you for your attention and likes. If you have any questions, please feel free to leave a message, and I will provide the most secure advice, hoping to help you.