Short crude oil...Crude is under pressure of fear of recession and can goes down again.
Upper line of broad channel is so strong and can push price to 68.00 zone.
Trade safe.
Good luck.
Wticrude
USOIL reacting only slightly to the tensions in the Red SeaIn mid-December 2023, we witnessed major shipping companies announce a halt to transit through the Red Sea. Then, with the launch of Operation Prosperity Guardian, we saw the same companies start reversing their decisions, only to again pause shipping quickly after the resumption (thanks to more attacks from Houthi rebels targeting Maersk ships). As such, the past three weeks in the oil market were marked by turmoil, affecting about 8.2 million barrels per day in transport through the region (and an estimated 12% of the world’s trade). With these tensions increasing, USOIL is reacting positively, and we acknowledge that USOIL may continue to oscillate between $68 and $75 in the short term (before diving lower). However, our price target of $65 per barrel stays in place.
Technical analysis
Daily time frame = Neutral
Weekly time frame = Bearish (turning neutral)
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
Daily WTI CRUDE OIL Update January 04, 2023Hello Traders! Price broke a swing high which can represent bullish momentum. This can also be a false break to get retail in long. I caution trading NFP and would play the sidelines still the trend becomes more clear.
USOIL Crude Oil WTI Price Prediction for Winter The potential for an increase in oil prices looms as supply disruptions in Libya unfold. Additionally, heightened tensions in the Middle East, fueled by another attack on a container ship in the Red Sea and explosions in Iran, contribute to the uncertainty. Shipping giants temporarily halted Red Sea shipments last month due to attacks by Houthi rebels, who were influenced by the conflict between Hamas and Israel.
On a recent Wednesday, the Yemeni militant group, supported by Iran, claimed responsibility for targeting a container ship en route to Israel.
Concurrently, OPEC announced its members' commitment to unity and cohesion within the organization, emphasizing their dedication to shared objectives.
Adding to the complex landscape, last month saw Angola, a member of OPEC for 16 years, decide to exit the cartel due to disputes over quotas. In light of these developments, my forecast for oil prices is set at $80 by March 2024.
USOIL Sell signal Hello traders, over the last few months, Usoil has seen a bearish trend. I anticipate this selling momentum to continue until we reach 67.68 and we could go lower. In the past days, we've established the buy side of the curve and formed a market maker sell model.. I'm interested in engaging in a sell position once the daily FVG is reached, of course after a shift in momentum.
WTI H2 / RETRACEMENT FROM THE OB, SHORT TRADE OPPORTUNITY 📉🛢Hello Traders!
As expected, we can see a retracement of the OIL H2 from the resistance level, and also, from the OB at the price of 74.900. I see this retracement as a good signal of bearish domination, representing a good opportunity to execute a short trade.
Treaders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective.
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New high for Crude OilHitting breaker on the daily after hitting OTE at the weekly, new highs on the way
WTI to find buyers at market?WTICOUSD - 24h expiry
Previous resistance level of 75.34 broken.
Intraday, and we are between bespoke support and resistance 73.51-77.10.
The sequence for trading is higher highs and lows.
There is scope for mild selling at the open but losses should be limited.
The medium term bias remains bullish.
We look to Buy at 75.00 (stop at 74.20)
Our profit targets will be 77.00 and 77.40
Resistance: 76.14 / 77.10 / 77.75
Support: 74.95 / 73.51 / 72.41
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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OILUSD #001 ( downward move to get lower trend line support )Hello dear traders .
Good days .
On monthly Gann Square , after broken Arc resistance it try to broken upper Fan trend line and Gann Box level resistance but rejected strongly .
For future next Arc resistance it need to get support from monthly Gann Square Lower Fan trend line .
Road map plotted with help of daily Gann square & Daily Gann Box .
Good luck and safe trades .
Thanks for your support and comments .
WTI USOIL bearishhello everyone, USoil pulled back from the main resistance level,
Monthly bar started of bearish
weekly: good confirmation of overall price is bearish
Price could fall to support level 1 or 2...
for entry try getting as highest as possible
good luck
BullishWe have a break of structure to the up side followed by a return to a trendline with a false break. We also have bullish Divergence on the weekly chart! Get ready for the seasonal price change of OIL...
USOil WTI Technical Analysis And Trade Idea USOil WTI has shown a robust bearish trend of late, reaching into a noteworthy support level on both daily and weekly charts. The accompanying video offers an extensive breakdown of this trend, meticulously dissecting price actions and pinpointing potential trading prospects by conducting a comprehensive analysis across various timeframes, spanning from weekly down to as brief as 15 minutes. Expect a thorough exploration encompassing price fluctuations, market trends, trend assessments, and critical technical analysis elements. It's imperative to highlight that the insights shared here are solely for educational purposes and should not be construed as financial guidance.
Range trading
The market's reaction to OPEC+'s announcement of voluntary production cuts was a further decline in oil prices. According to reports, investors were pessimistic about crude oil ahead of the OPEC+ meeting and had already priced in their expectations that production cuts would not be enough to push oil prices higher.
The market's economic recession and investors' disappointed attitude towards crude oil have caused oil prices to continue to fall despite production cuts.
At present, crude oil pays attention to the resistance level of 75 and the support level of 72. The current market situation is still range trading and there will be no one-sided situation.
Crude Oil Bullish
Crude prices rose as a weaker dollar and optimism that major oil producers could extend ongoing production cuts at an OPEC+ meeting later this week boosted sentiment.
Although the market is still paying close attention to the production of non-OPEC countries, various positive factors have provided positive external support for oil prices. Investors' expectations for the OPEC+ meeting have kept the market cautiously optimistic about future oil prices. Secondly, the combination of a weaker dollar, expectations of production cuts, and supply concerns have driven up oil prices.
Judging from the current trend of crude oil, as long as it does not fall below 74.4, oil prices will give priority to rising to test the 79.3-80 area.
We also need to pay attention to the key position 75.8.
WTI Crude oil - last updateOur overview: Definitely OPEC+ policy disappoint the market. The Cot report released Friday, referring to data until the previous Tuesday, then few day before the OPEC+ meeting, highlighted that the commercial barely increased(1%) their net long positions in options, reverting the trend of the previous report. Furthermore, a news from 'businessinsider.com' say "Saudi Arabia could 'flush' the oil market with a flood of supply to regain control over prices in the face of rising US production. All this might push the market toward more weakness and negativity. In the overnight session price retraced getting closer to the support area @$73.00.
Technical signals: RSI negative and Stochastic negative in oversold area.
Trends analysis: Primary(purple): downward impulsive structure wave 5, intermediate(green): corrective structure wave A, minor(yellow): corrective structure wave C.
Our current strategy: Strictly Neutral, following the market.
Our current position's risk profile @$73.38: delta 0.052, gamma 0.216 Hedging point: not set
Targets
$76.50
$75.00
$74.20
$73.00
$72.40
$71.80
WTI Crude oil - last updateOur overview: Definitely OPEC+ policy doesn't convince the market. Massive selloff with more tha 500K contract traded, push the price to re-test the trend/neck line. Market could enter in latera trading range.
Technical signals: RSI negative, and Stochastic negative.
Trends analysis: Primary(purple): downward impulsive structure wave 5, intermediate(green): corrective structure wave A, minor(yellow): corrective structure wave A.
Our current strategy: Neutral, following the market.
Our current position's risk profile @$75.70: delta 0.018, gamma 0.192
Hedging point: not set
Targets
$78.70
$77.80
$76.30
$74.00
$73.30
$72.50
WTI Crude oil - front expirationOur overview: Strong GDP in US, and hope on the OPEC+ meeting, offset the build in crude stockpile. A bigger then expected production cut would push for a Christmas rally. Today is mandatory stay neutral at least till is gonna be clear the OPEC+ policy.
Technical signals: RSI and Stochastic positive.
Trends analysis: We maintain an overall positive overview with a potential extension till $81.50/$82.00 if OPEC+ will confirm a robust production's cut. Primary(purple): downward impulsive structure wave 4 with target @$80.00/$82.00, intermediate(green): corrective structure wave C, minor(yellow): upward impulsive structure wave 3.
Our current position @$78.78(in scale to a basic number of contracts :
current delta: 0.137
current gamma: 0.198
Targets
$81.00
$79.75
$78.70
$77.00
$76.40
$75.80
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#CRUDE #OIL Slanted inv H and S breaking upPrefer the more horizontal head and shoulders but never the less this looks like a good breakout with a target at +- $82.50
WTI Crude oil - last updateOverview: After several tentative, finally the trend line has been broken. Yesterday's CoT report (Commitment of Traders) highlighting that commercial and not commercial are reducing their net long positions in options. This could be a signal that area $73/$75) is an accumulation's area, at least for the current conjuncture, confirming our strategy. Eye on API crude oil stock tonight.
Technical signals: RSI and Stochastic in positive area.
Trends analysis: After the movement of the last days we redraw the technical analysis and the trends perspective. A clear head & shoulder closed with the today's breakout of the neck line, and potential extension till $81.50/$82.00. So this is the updated reading: primary(purple): downward impulsive structure wave 4 with target @$80.00/$82.00, intermediate(green): corrective structure wave C, minor(yellow): upward impulsive structure wave 2.
Strategy: Neutral delta, following a potential technical pull back till $75.70! Then positive looking for the upward trend extension till area $79/$80/$82. Stop: not set.
----->>Today's session corrections: @$76.97 from +0.69 to -0.03
Our current delta: @$76.46: -0.12
WTI Crude oil front expiration - last updateOverview: Weekness due to the OPEC+ meeting uncertainty.
Strategy: Positive Delta looking for a technical rebound and waiting for the CoT report which is gonna be released today. We hold moderate positive position. Our current delta: @$74.20: +0.20
Technical signals: RSI negative, Stochastic in oversold area.
Trends analysis: primary(purple): corrective structure wave A, intermediate(green): corrective structure wave C, minor(yellow): impulsive structure wave 2. On breakout of $73.90 the intermediate(green) trend will go back to wave B asymmetrical structure.
----->>Today's session corrections: @$74.80 from -0.36 to 0.30
Crude oil range trading
Crude oil continued its downward trend at the opening on Monday, and its rebound at $75.7 once again encountered resistance and declined, indicating a bearish trend. Looking at the daily trend chart, the daily level has been negative for three consecutive times. Although there is no new low quotation, the high price has not been broken, indicating that an adjustment in crude oil prices is expected.
After the oil price broke down continuously in the early stage, after hitting a new low of 72.3, the oil price rose to 78.43. However, after the subsequent oil price retracement, there was no continuation of the bulls. At this stage, it is in a triangle shock. If there is no breakthrough of the previous high, There are signs that there will be a high probability of a continued downward break.
Oil prices currently focus on resistance 77.5-78.3 and support 73.7
Overall bearish
WTI Crude oil front expirationOverview: The price just approach the first important resistance area, a downwards trend line. This dynamic resistance has already rejected prices 3 times since its formation. Lateral trading waiting Wall Street's short session.
Strategy:
we hold delta neutral position waiting for a breakout. In this case, we will go long with a stop level @$76.30. Our current delta: @$76.65: 0.06
Technical signals: RSI still in neutral area, Stochastic positive.
Trends analysis:
primary(purple): corrective structure wave A
intermediate(green): corrective structure wave C
minor(yellow): impulsive structure wave 3
Mandatory rebalance level: not set
Today's session corrections:
----->> @$76.65 from 0.48 to 0.06.
WTI Crude Oil Trading: An In-Depth Analysis of a Bearish TrendDear Esteemed TradingView Members,
I n the ever-evolving world of finance and trading, staying ahead of the curve is essential for success. If you're part of the exclusive audience of elite business professionals and investors, you understand the importance of precise market analysis and informed decision-making. In this article, we delve into the intricacies of WTI Crude Oil trading to provide you with valuable insights and a sophisticated outlook on the current market.
Decoding the WTI Crude Oil Market
M ACD Indicator Insights: The WTI Crude Oil market has witnessed a bearish trend since September 28, 2023, as indicated by the Moving Average Convergence/Divergence (MACD) at the bottom of the chart. While MACD continues to display bearish signals, it's vital to remember that this is a lagging indicator, reflecting historical trends. As sophisticated investors, we must recognize that historical behavior does not guarantee future outcomes. The world and its dynamics are in a constant state of flux, with each trading day being a unique entity shaped by ever-evolving global events.
D eep Neural Analytics Perspective: Here's where our analysis takes an intriguing turn. Deep Neural Analytics suggests the possibility of WTI Crude Oil being oversold. Historically, when MACD levels have reached this point, a bullish pull-up often follows. However, it's important to approach this insight cautiously. Global news and unforeseen developments can significantly impact oil markets. While historic trends provide valuable guidance, they are not absolute predictors of future behavior.
T he Support Zone: According to volume metrics, the current support zone (indicated by the upper blue rectangle) ranging from $77 to $84 also serves as a demand zone. If market sentiment remains positive and bearish news doesn't disrupt the status quo, this zone could transition into a consolidation platform. A consolidation zone acts as a springboard for investors to accumulate positions and potentially drive the price to the next resistance zone, which might fall within the range of $94 to $100 (as depicted by the purple rectangle).
A lternative Scenarios: If buyers fail to sustain the current support zone, or if external factors challenge investor sentiment, the next potential demand zone lies between $63.5 and $71 (as illustrated by the bottom blue rectangle). Should this scenario unfold, it would necessitate a reassessment to determine its suitability for a possible reversal. Theoretically, if oil doesn't reverse from the current demand zone, it could find its turning point in the alternate demand zone. These scenarios, however, are long-term considerations, while the current situation sees oil consistently falling below key Exponential Moving Averages (EMAs) like EMA 20/50/100/200.
U nderstanding Sustainability: Exponential Moving Average (EMA) indicators play a pivotal role in comprehending the sustainability of trends. Gradient Boosting Machines (GBMs) applied to EMAs and oil prices suggest that the bearish trend may persist until February 2024 or potentially longer. Despite MACD indicating that oil is oversold, GBMs on EMAs advise against forecasting an immediate bullish trend. This underscores the importance of not relying solely on one indicator.
The Road Ahead
I n the realm of WTI Crude Oil trading, informed decision-making is key. The markets are driven by a complex interplay of variables, making the role of a sophisticated investor all the more crucial. Without bullish news and indicators, WTI Crude Oil continues to display bearish tendencies and may maintain this trajectory for the foreseeable future.
Remember, this analysis serves as a guide, not an investment recommendation. Conduct thorough research, safeguard your funds, and take full responsibility for your investment choices. The dynamic nature of financial markets requires vigilance, and with the right insights, you can navigate the WTI Crude Oil landscape with confidence and wisdom.
Kind regards,
Ely
