Get started

WTI-OIL

Shorting BRENT / Retest of resistance and bearish contractionToday is the day Oil ( Brent and WTI ) continue to take further losses. An article helped the OIL market yesterday but that article was a cry for funding and in reality, cannot solve the current Coronavirus problem... the WHO downplayed the "breakthrough" and sentimental are back on selling BRENT and WTI and the technicals agree. The RR is very solid here and we expect strong losses throughout today based on what the charts are showing us. We will look to move our SL into BE/SP (break-even / Small profit) once a breakout is established (candle closes) below the contraction or out of it on the 4H.
TVC:UKOILShort
by PrimedGroup
Oil (brent/light-crude) Fundamental Update 13:32:16 (UTC) The president of OPEC mentioning a February meeting with the Russian oil Minister. An emerging meeting could be held as early as this coming week. The question is, what is the real impact of price of a barrel of sweet crude with so many moving parts across a trillion-dollar global supply chain. The president of OPEC mentioning a February meeting with the Russian oil Minister. An emerging meeting could be held as early as this coming week. The question is, what is the real impact of price of a barrel of sweet crude with so many moving parts across a trillion-dollar global supply chain. Fundamental headwinds include the impact on jet fuel demand and tensions in the middle east (Libya). What's to come: OPEC and the Saudi Oil minister wants to prove to the public right now that they are reacting proactively and display an earner willingness to react. Output will be slashed. This was seen as the company went public back in December. As mentioned, Libya has just shut down an 800,000 barrel/day pipeline. This compensates easily for the demand impact stemmed from the virus outbreak that the markets ignored; which is the issues on the supply side of Oil . Sentiment is so negative, that the market is fixated on the demand headlines and ignore issues on the supply side. Libyan production being offline for the last 2 weeks, has kept over 2 million barrels off of the market. When Libya went offline, it was assumed this was political. I think this shows something much worse, which is a theatre of war and thus a destruction to infrastructure. Jet fuel prices in Asia are crashing. The question forward is, what’s the timeframe for the Coronavirus? The U.S. rig count is at multi year lows, since last summer. At the current rig count level, the industry can’t grow. It would be at best a flatline, and probably a decline. A catalyst needs to come desperately, and this catalyst would be a spike in oil prices. Unless oil prices recover from current levels, there will be a structural shortage of WTI for years to come. Bias is now long for both fundamentals and technical for WTI going forward this Q1 13:32:16 (UTC) Mon Feb 3, 2020
TVC:USOILLong
by TayFx
3
Oil: “Don’t try to catch a falling knife”Hi Guys, January did not start bad with prices rising and peaking with Operation Martyr Soleimani. Despite this, all gains made in 45 days were lost quickly in 20 days thanks to coronavirus and worries over economic growth and oil demand. Since my last idea on WTI posted on Oct.7, black gold moved from $52 to $65 in approx. 45 days. The peak at $65 was reached when tensions between US and Iran escalated following the killing of the Iranian General Soleimani on Jan.3 and Iran hitting back with "Operation Martyr Soleimani". Tensions between US and Iran de-escalated since and now we are back again at same level of 1-2-3 which provided support at $52 thanks also to spreading of coronavirus. Will this level of previous support at 1-2-3 ($52) hold the pressure of this new virus? We don't know. All we know is that next OPEC meeting is scheduled for March 5 but they are trying already to stop the bleeding as this article from Reuters shows. www.reuters.com “Don’t try to catch a falling knife” is sage advice for investors trying to identify the trough in a market like oil following a sharp selloff. The following idea "The Cone" was posted on May 1 and it was structured on a Monthly chart. For additional infos about WTI please refer to the related ideas linked at the end of this post. If you have any questions or comment to add please do not hesitate to post it. Thank you for your support and for sharing your ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities. IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
FX:USOIL
by cozzamara
1
WTI Crude Oil: When to BuyThe price broke the uptrend line and gave us a solid bearish signal. The market continues the downward movement, and for us, it will be better not to join this movement, but wait for a reversal and try to catch a pullback. The 1st support zone will be at 55.00 level. If the price reverses from this zone in the daily or hourly timeframes, it will be possible to buy with stop-loss orders below the local swing low and 55.00 support. If the price breaks 55.00 support, the 2nd zone will be at 51.00 level. The same reversal signals from the daily and hourly timeframes will be good to open long positions. Of course, we will do it in line with the proper risk and money management. Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
FX_IDC:USDWTI
by DLavrov
#USOIL #WTI We'll have a long story in the Middle EastLately, this commodity had being driven by fear, threats and uncertainty. The global demand for crude oil in 2019 is about 100.3 million barrels per day and for 2020 is expected an increasing trajectory of 101.6. Now, we have to consider that prices are indicating they may break out of their range if the hostilities in the Middle East escalate further, shale drillers are rushing to hedge their 2020 and 2021 oil output at the higher prices. As usual, I prefer to keep the old lines. Cream Live Trading
TVC:USOIL
by wildcreamlife
WTI USOil 1h planA follow up to my recent post. So America came out saying they're not going to escalate except for stronger sanctions and the Iranians seems to be calming down as well. How long this will last is anyone's guess. Both sides are probably planing their next move. As a result we've seen oil pullback heavily over yesterday. The question now is how far. We saw good volume kick in at the 59 price mark. My best guess is that hedges are starting to accumulate around this zone. We are currently forming a consolidation pattern. Not sure on the pattern just yet but it could form a flag. The closest support line would be the ascending trend line from the daily time frame. If they break this phase downward I'd like to see them react to that trend. (The height of consolidation also touches the line perfectly from a breakdown as shown.) I'm planing long entry's between the 57-58 price if they show bullish signs. If the current daily trend doesn't hold we could potentially slip back to the 50-54 range. Any input would be much appreciated. Good luck and happy hunting!
TVC:USOIL
by Phyro
ORBEX: Gold & Oil Soar on Iran's Military Retaliation!Iran retaliated against US with ballistic missiles instead of disrupting oil shipments, facing one enemy at a time as China is a big importer. Gold and crude soared to fresh highs after Iran attacked a US military base in Iraq. Oil gains, however, were discounted early, perhaps due to EIA’s later report, but gold remains bid near $1600/oz. Watch our analyses for further technical insights and as we apply Elliott waves. Trade safe Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
FX_IDC:USDWTI
by Orbex
WTI (USOIL): Important Zone Just In Front Of Bulls hey guys, good day!!! I have received very lovely comments after yesterday's post on gold and many of you asked me to clarify the picture on WTI. The first thing to consider is that we haven't seen a pullback for more than 1 month! Slowly but surely bulls are still keeping pushing the market forward. Yesterday the market has finally entered 64 - 67 decent supply zone and we saw a strong rejection from it. I believe that for many buyers it will be a profit-taking area so the chance to see a pullback is very high. Pay close attention to the market within this area and try to catch a drop after a formation of some reversal pattern. Talking about a long term perspective, the aforecited area is a decision zone for the market. Being broken above it will expand the potential for buyers and continuation to 70 levels will be a highly likely scenario. Being respected we can expect a reiteration of April's scenario. I will post the update when I see a decent trading signal or change. Please, like the idea and support it with like! Thank you :)
FX:USOILShort
by VasilyTrader
1
1 day WTI chartLooking at the 1 day WTI chart. I see that we did get a decent rise thanks to tension in the middle east. Things could get sticky folks. We are on the verge of war with Iran. Do I want a war? Hell no. But will I capitalize on oil if war is unavoidable? You better believe I will. If you dont take advantage of it others will. Now I am the last person here that is hoping for a war with Iran. I have a few Iranian friends that dont want a war either and I like the Iranians I do know. But face the facts.. If war is coming we need to take advantage of what we can as traders. Rarely do we get any warning of something like this and wham... Here is a giant red flag that oil may be ready to rocket up. From what I am hearing war with Iran could drive oil to 150 a barrel. In the Iraq war oil went well over 100 dollars a barrel. So this an entirely plausible scenario in my eyes. Iran will likely do what it can to avoid a head on collision with the US military. But I believe if things escalate much more Iran will resort to using mines in the straight or Hormuz which will undoubtedly effect oil world wide. So who really benefits from higher oil prices? Well Iran would if they could find anyone to sell it to.... The US would benefit. Saudi Arabia would benefit along with any oil rich country that isnt under giant sanctions from the US (Venezuela, Iran etc) Which makes me wonder what the end game is here. Trump seemingly wants to keep oil prices down before the election to keep gas prices low for his base. Now I cannot read Trumps mind. I cant tell you what Iran wants to gain from all this. I can tell you what I think. Iran wants US out of the middle east and US wants Iran to give in and follow the orders of the US govt. Neither sound very plausible to me without some sort of conflict. We are seeing the prices rise already... Whether they continue to rise depends on a few key factors such as if cooler heads prevail. Both parties (US and Iran) seem to be hot heads. If you really want my opinion I think Trump and Irans supreme leader should go one on one... Steel cage match... Winner gets America :) What do you think???? Are you taking a position in oil????
OANDA:WTICOUSDLong
by UnknownUnicorn4304403
1
ORBEX: US Air Strike Sends Oil and Gold UP!A US airstrike at the Bagdad airport killed Iranian General Qassem Soleimani’s. Not only this is going to increase geopolitical instability in the region but it also questions the legality of the President's decision as he acted without Congressional approval! US-Iran relations are taking a sour turn early in the year following an “extremely dangerous” attack that could set off a war. See how oil and gold have been affected so far and how they are likely to perform in the short-term. Timestamps WTI 3H 01:50 GOLD 3H 04:15 Trade safe Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
FX_IDC:XAUUSD
by Orbex
Going short on WTI againAn important thing to note with contraction fakeouts, if they are valid and work out, is that a vicious reversal usually follows. Currently, price action came right back into the contraction and is testing the bottom layer of it, which could easily create a breakout. Later in the day we do get the US Crude Oil Inventories which could be the push the WTI bears :bear: need to start moving lower. As you may notice WTI has strong fluctuations in price, most recently seen on the 18th of November and 29th of November. The two main support areas right now are, 58,450 & 57.850, if we do go short again we would target these two levels. Of course for the definite stop-loss area, we would want to target above the highest pattern high, which is 61.015 ( <-- higher than that price of course, maybe 61.200 or 61.300)
OANDA:WTICOUSDShort
by PrimedGroup