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WTI-OIL

Bearish Potential on Soybeans by ThinkingAntsOk4H CHART EXPLANATION: At the beggining of May, price started a strong bullish movement towards the Weekly Descending Trendline. Once it faced the zone, it could not consolidate above and the trend became weaker. Then started moving sideways and it has recently formed a Triangle Patter, which was broke downwards yesterday. We expect a downside move towards the Multiple Support Zones. MULTI TIMEFRAME ANALYSIS: -Daily: -Weekly:
OANDA:SOYBNUSDShort
by ThinkingAntsOk
Market Overview | 02 AugustBy Andria Pichidi - August 2, 2019 It was another volatile day in the markets after Wednesday’s post FOMC gyrations. Stocks sold off in Asia overnight,with the Australian 10-year rate dropping nearly 12 bp, GER30 futures are down -1.8 bp, CAC 40 futures down -2.1% as fresh China-tariff threats from US President Trump spooked markets. US futures are also broadly lower, and the WTI future is trading at just USD 54.88 per barrel. Trump Twitter announcing another 10% in tariffs will be imposed on an the remaining $300 bln in Chinese goods that haven’t already been hit. Trump has before announced tariffs only to subsequently reverse course, though the September-1 implementation date is before the next round of talks start. Also, the threatened new tariffs would hit consumers much harder than earlier tariffs have, which deliberately focused on industrial goods to minimise the impact on consumer goods. Fears are that Trump’s China threat is a sign of a further escalation in global trade tensions and markets are nervous ahead of a scheduled announcement by the US President on EU trade today. Fed funds futures have spiked in conjunction with the drop in yields and stocks, on the worries over increased trade tensions. The 2020 contracts are outperforming and have priced in almost 60 bps of additional easing this year, on top of yesterday’s 25 bp reduction. The market now sees about 80% risk for another 25 bp rate cut by the end of October (which also includes the September 17, 18 FOMC), and is about 75% of the way to pricing in a 1.625% December funds rate. Oil Action: USOIL has been slammed lower in the aftermath of Trump’s tweet. The asset is down over 8% on the day, printing 7-week lows of $53.59, and down from pre-open highs near $57.85. The fresh tariffs will add further concerns to the global growth outlook, leading to demand destruction for crude oil. Currently it is trading at 54.80 however the decisive breakout yesterday below 2 months desceding tringle along with te break below July’s Support at 54.73, adds further negative bias into the medium term USOIL outlook and suggests the retest for years 2019 and 2018 lows, i.e. immeiate Support at $53, next at $50.60-$51.60 area ( 27.2 Fib. extension and June 2019 Support area) and latest the December 208 lows. USDCAD tracked higher amid a 8% pull-back in crude prices. Safe Havens The development sent global stock markets tumbling, boosting the demand for safe havens, including the Japanese currency. YEN: The Yen has rallied sharply amid fresh trade warring versus the underperforming Australian dollar while losing ground to the outperforming yen, and softening moderately in the case against the euro. The biggest mover has been AUDJPY, which plummeted be over 2% and reaching the lowest levels since the flash crash of early January. The cross is widely seen as a forex market barometer of global investor risk appetite, partly as the Australian dollar serves as a liquid currency market proxy on China. USDJPY, meanwhile, dove by over 1%, making a near 6-week low earlier Tokyo at 106.85. EURJPY and other yen crosses have seen similar price actions. However as 107.20 (double bottom in July) was rejected from Support, the sharp decline for USDJPY erase bullish momentum spotted last week. The asset looks quite mixed as it retests once again year’s low. Volume decreases suggesting a possible trend reversal of the existing downtrend to the upside but on the other hand the 50-week EMA is sloping lower looking ready to cross below 200-week, suggesting further decline for the asset. Hence a confirmed strong close below 106.80 could open the doors towards January – March 2018 area, i.e. 105.25 – 106.20 area (latest weekly down fractal and Lower BB line). There is now initial resistance at 107.70 and a further barrier to recovery at 108.00. However a spike up to these barrier could imply a correction on the sharp decline. www.screencast.com www.screencast.com Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. 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TVC:USOILLong
by HotForex
WTI Oil: Dec-February fractal shows mid term potential for $74.Oil is replicating the December-February price action when the price again bottomed aggressively after an earlier market peak and then started rising gradually to the annual High. Common parameter is the Golden Cross on the 4H chart. We can assume that as long as the MA200 holds, the uptrend will be sustained. 1D is actually on strong bullish levels (RSI = 63.049) and 1W is about to break through its neutral barrier (RSI = 54.302, MACD = -0.860, Highs/Lows = 0.0000) into a medium term bullish trend towards $74.00.
FX:USOILLong
by InvestingScope
1
WTI: Newton's Third LawHi Guys, ANY ACTION LEAD TO A REACTION. The basic principles of Newton's Third Law applied to WTI following Khashoggi's assassination on Oct 2, 2018. Please also refer to the following post: For additional infos about WTI please refer to the related ideas linked at the end of this post. 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.
FX:USOIL
by cozzamara
WTI | A Sell Below $62.00 (Weekly)Last week's bearish candle that printed on WTI has caught my eye. Firstly, the move higher early on in the week would have caught a lot of bullish trend traders off-guard. If you switch to the daily timeframe, the picture is even bleaker for the bulls - that pin-bar on weekly looks like a good old fashioned blow off top on the daily. So where to from here? For me, I need to see price trading below $62 to initiate a short. If price just eats up last weeks range, drifting higher, that would make me do a full 180 and expect more upside.
TVC:USOILShort
by glennhowell
Confused much?Oil of course is reacting to world trends. I don't need to cover the emotional roller coaster which is being presented in the world to you - you know what I am talking about. Of course, this behavior becomes confusion in the charts. Daily: Trend: Bull Consolidation: None Single Renko Bullish box on 20-Jun Both RSI and BSI haven't caught up yet to the positive trend yet. Price Projection on the daily is for 65.15 Weekly: Trend: VERY WEAK BEAR (Near the 21 and 55 MA but still below) Consolidation: YES!!!!!!! There is a four bar consolidation in place. 59.67(R)-50.63(S) The last price projections before this week were very negative with: 45 and 36.04 as targets. The weekly shows NO entry signs at this time (plenty on the daily however).
TVC:USOILLong
by priceprophet
WTI Oil: New mega bull cycle started. $275 by 2025.This study is based on the logarithmic 1M scale since 1990 and investigates a pattern that appears to be repeating itself. The time periods (cycles) are 1990 - 2008 and 2008 - today. 1 through 6 are the minor market phases within this pattern and basically represent the Bear Cycle with the accumulation and recovery phase. The sequence at the end of 6 and the beginning of 1 is basically the Bull Cycle. Similarities: ** 1-2 and 3-4 are bearish legs during the 1990 - 2008 cycle they both had a roughly -60% decline. Surprisingly on the 2008 - present cycle those same legs declined around -75%. Both legs had the same percentage drop. ** The 1990 - 2008 bear cycle's (phases 1 to 6) duration was a little over 4000 days. The 2008 - present cycle's (phases 1 to 6) duration is a little under 4000 days. With such similarities it is not odd to technically assume that the pattern will be repeated and complete the final phase which is the bull market (6 - 1). On the 1990 - 2008 cycle the bull phase (6 - 1) lasted roughly 2400 days. Since the 2008 - present cycle is a marginally shorter, we can expect the upcoming bull cycle to also be slightly shorter, with a rough estimate of 2300 days. This actually places the next top around May 2025. But what about the actual value, the bull cycle's peak? Based on the bottom (phase 4) to next peak (phase 5) Fibonacci extension levels, the previous cycle high in 2008 was price just above the 4.764 Fibonacci extension level. Assuming the current cycle will continue to repeat the 1990 - 2008 sequence, we have calculated the bull market peak at $275.00. But since the bearish legs have been stronger on the present cycle we may have a slightly less aggressive peak this time, so to be fair we have a target range of $230.00 - $275.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX:USOILLong
by InvestingScope