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Usousd

Oil reverses losses. Could we see a push higher? Hi TradingView community, today’s focus is on oil as price has, for now, reversed seller momentum and could be starting to form a support bounce. Overall the price remains range-bound between 93.50 and 83.65. But price continues to trade outside of the last major downtrend, and we have two higher lows after the September low. Today sellers took control in the Asian session, but with a risk asset recovery into the LON session, we have also seen oil’s fortunes reverse back to the buyer side. We can see a solid area for demand from and below support, which lines up with the higher lows. Today’s reversal maintains 85.40 support and will continue to back up yesterday’s higher low if we see a higher close today. These are all good signs, and if buyers can continue, we will be looking to see if they can retest the supply area. A break of supply could set off a new leg higher that we hope could retest resistance. If buyers fail today and we see a new move back below 85.40 support, this will keep us on the lines as we wait to see if supply can continue to hold. EIA crude inventories are due Thursday morning at 2:30 am AEDT. Have a great Wednesday and good trading
EIGHTCAP:USOUSDLong
by Eightcap
COMMODITIES (OIL ) vs EQUITIES ( DIA)In this chart, I have plotted the ratio of the price of the USOIL ETF over the DIA, which is the broad ETF for the DJI. The chart shows the USOIL ETF has been stronger than the DIA until the market lows in mid June after which the DIA rebounded while hot oil prices cooled off. The analysis would be is that oil prices may be relatively undervalued at present and so represent a potential basement sale at a time when the federal goverment just approved a vast upgrade in oil leases on federal land. If investing in big oil at this time ( like Warren Buffet) what stock or ETF trade would you be inclined to take? AMEX:USO
TVC:USOILLong
by AwesomeAvani
CFD News; Oil sees demand after testing key support.Welcome to Wednesday's update, subscribers and TradingView community Today our focus is on oil as price has started to move higher after testing and holding for now at key support. Price continues to trade in a short to medium-term downtrend after sellers turned momentum back in June. Since that point, it's been a series of LHs and LLs. Today's price has shown defensive action from buyers after this morning's lower gap failed to beat 94.90 area support and demand. Could yesterday's bar be seen as exhaustion? If buyers can hold this level of support, we will be looking for price to continue to push higher. Obviously, if we see a break, then it's back to looking for new LLs maintaining the downtrend. The MAs remain bearish, but the OBV has stopped putting in clear LLs despite yesterday's strong move lower. Could support be hiding plenty of fresh demand from oil buyers? We will have to wait and see if buyers can hold the level again today. Data to keep an eye out for today. 10:30 pm US CPI and core CPI. 12:30 am US crude oil inventory numbers.
EIGHTCAP:USOUSD
by Eightcap
USOUSD OIL,Yesterday's buyer fightback to push a new leg higher?Thanks for tunning in TradingView community. Today we're looking at USOUSD oil and wondering if yesterday's price rejection could lead to a new leg higher from buyers. So far this week, we have seen mixed trade with buyers coming close to breaking last week's high before sellers took hold and set up a two-day retracement. It would have been three, but buyers had other ideas yesterday, stopping sellers once they tested 112.75. Buyers quickly took price back up above 117 and posted a higher close for the session. Today so far price has been on the quieter side. If we can see a new move above yesterday's high, we will be looking for a new up leg, but if sellers can close below 115.14 this could be a warning that the current retracement could have further to go. If we do see a new leg higher would look for price to possibly get back into the 120/21 area if buyers can maintain momentum. Happy Friday, all. We hope everyone has a lovely weekend and good trading.
EIGHTCAP:USOUSDLong
by Eightcap
Crude oil! Go with the flow!EIGHTCAP:USOUSD The trend of crude oil and gold in the day is basically similar, also due to the influence of Russia's withdrawal of some troops. However, the difference between gold and crude oil is that crude oil itself has given some support to crude oil due to the current production capacity constraints. At the same time, the technical bulls of crude oil have a strong trend. Unless Iranian crude oil enters the market, this constitutes the theoretical basis for the crude oil reversal. Therefore, for the next trend of gold and crude oil, we cannot make generalizations, and crude oil will still be bullish in the follow-up.
EIGHTCAP:USOUSDLong
by DoraLee1122
1
USOUSD OIL BULLISH TO 24.68 to 32.88| 5th May 2020"How Malaysian people can predict the oil price accurately? This is the long lost technique which I learn from my father. Japanese people expert at rice price Malaysian people expert at oil price. We are an oil producer since generation. Alas, not many Malaysian people know it.." -Zezu Zaza Oil Webinar on 28th April 2020 8 years ago, when I started the journey seriously in being trader (your job is to buy and sell price), my dad asked me if I want to learn an ancient technique. A technique which not people know because not all people being in the oil industry at that times. Well I said, 'Yes of course I want to learn the secret..' I said like being skeptical on how he really can know the secret of oil price traded. I mean for a second I was like dont very pay attention about what he told me. That times I was like 24 years old. Very novice, juvenile and smell like nothing in my head. Now I am 32 years old. Old enough to experience the trading like 12 years experiences just only to watch the price daily for 12 years. Market price is my netflix. 'Well son, I learn from your grandpa. He taught me something that people like us need to know but our races won't appreciate it because they don't know how important really is.' My father sipped warm coffee. That time felt like peace with breeze air from outside of our village. (Back then poor people don't venture into the oil price trade) Since we are a family which trade the price, we must know all the technique. How to trade oil, how to trade gold, how to trade wheat. And all of this traded instrument were totally different on how to trade it. But younger generation nowadays hit everything on its path. They think they know everything and trade the same. Old people from our time is really good than people in your time. All your gadget, indicator makes you stupid. Things that comes easy, human wont strive for the success to dig the knowledge. They prefer the indicator to tells things while indicator is a lagging coding after price and momentum makes its turn. I hear his mumbling bla bla bla and bla like 1 hour. At one point, what he said is true. I cant denied. Then he off his tobacco cigarette and sipped the coffee. He show me something which I truly remember until now. He draw a chart in one piece of paper... Then I saw something huge. Something that people need to know. The secret is so huge to hide. I was amazed with the prediction. The price is like a battleground of a chess. I stood hard to digest on every single details he told me... To be continue.. Regards, Zezu Zaza 2048
TVC:USOILLong
by Zezu_Zaza
5