Get started

Wticrude

MarketBreakdown | EURGBP, WTI Crude Oil, EURAUD, AUDNZD Hey traders, here is a brief technical outlook of 4 peculiar instruments on my watch list. 1️⃣ EURGBP - Daily time frame 🇪🇺🇬🇧 The pair is currently approaching a major daily zone of demand. I will expect a pullback from the underlined structure. I am patiently waiting for a confirmation to buy. 2️⃣ WTI Crude Oil - Daily time frame 🛢️ The market is steadily falling within a falling parallel channel. The price is testing its upper boundary now. Its bullish breakout will trigger a bullish move. 3️⃣ EURAUD - Daily time frame 🇪🇺🇦🇺 The pair broke and closed below a key daily structure support. I believe that the pair may go much lower now. Be prepared for one more bearish impulse after a pullback. 4️⃣ AUDNZD - Daily time frame 🇦🇺🇳🇿 The pair is nicely retracing from the year's high. I guess we will see a bearish continuation this week. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
Oil down post fed discussion Technical analysis: on the daily time frame oil has broken the down trend; and pulled back to test that area again. Also creating a double bottom as well. On the 2hr timeframe at around 98.00 oil is sitting at the neckline of a minor structure double bottom; also at the top of the demand zone. Waiting for confirmation to sell down into a pullback down to 96.00 area if it does not break the demand zone around 99.00. If it does break the price 99.00 wait for a retest then enter for the continuation buy to next resistance area $101.00 Fundamental: Fed decided to do an interest rate hike at 1300 of 75 basis points. The hike in interest rate brings on fears of a dent in fuel demand. Recession fears have also caused oil to fall for the past few weeks. Weekly jobless claims have hit five month highs which is signs the economy is not in good shape.
TVC:USOIL
by UnknownUnicorn36761102
USOIL 27th JULY 2022Oil prices rose for the second day in a row, Tuesday (26/7). Amid growing concerns about tightening European supplies after Russia, a major energy supplier is cutting gas supplies via a main pipeline. The European Union has repeatedly accused Russia of using energy blackmail. The Kremlin said the shortage had been caused by maintenance issues and Western sanctions. EU energy ministers on Tuesday approved a proposal for all EU countries to cut voluntary gas use by 15% from August to March. The Organization of the Petroleum Exporting Countries and allied producers (OPEC+) are expected to confirm as a mere formality their decision to expand oil production by 650,000 barrels per day in July and August. The OPEC+ group of producers including Russia, began two days of meetings on Wednesday, though sources said there was little prospect of agreement to pump more oil . The net drop in crude oil inventories was flattered by SPR (Strategic Petroleum Reserve) releases, while the gasoline stock jump is because U.S. refineries are running at over 95% capacity. USOIL 6th JULY 2022 USOIL 14th JUNE 2022
TVC:USOILShort
by DNP-FX
13
PSCE - Getting Alpha on US Oil and Nat Gas. Up trend strong, pull backs seem to be respecting fibs which only tells me that there is possibly professional buying interest. Economic stage fits a good backdrop. USO etf is almost too heavily traded imo opinion, and it gets muted returns because of the size of the fund inflows and outflows. Also because the companies that make up USO also have the same muted return issues. this more obscure fund tracks small cap stocks in the oil and gas sector. Seems to move more dynamically and systematically. Two things trend traders like to see...Things that follow rules and follow them HARD. Will be waiting for signals and taking them when they come. just my opinion
NASDAQ:PSCE
by SnarkyPuppy
WTI oil - Oil continues to drift lowerOver the past four months, we repeated that oil prices were peaking and the downside was looming over the oil market. Despite the excess of bullish calls forecasting new ATH for oil prices, we stuck to our bearish bias. Indeed, a few months ago, we set price targets of 100 USD, 95 USD, and 90 USD for USOIL. After hitting the first two price targets, we still remain bearish and maintain a price target of 90 USD for WTI oil. Our views are based upon technical and fundamental factors. Illustration 1.01 The picture above shows the daily chart of USOIL. Two moving averages, 20-day SMA and 50-day SMA, reflect the downtrend. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Illustration 1.02 The weekly chart of USOIL shows 20-week SMA and 50-week SMA. The 20-week SMA appears to be reversing to the downside, which is bearish. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. 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. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
6
USOIL - 100 USD hit, 95 USD hit... what is next?Our price targets of 100 USD and 95 USD were reached recently. Despite that, we continue to be bearish on USOIL. Accordingly, we still maintain our price target of 90 USD, which we would like to change from long-term to medium-term. Illustration 1.01 Illustration 1.01 shows the daily chart of USOIL and two moving averages, 20-day SMA and 50-day SMA. These moving averages reflect the downtrend. Technical analysis - daily time frame RSI and Stochastic are bearish. MACD is bearish too. DM+ and DM- are bearish. Overall, the daily time frame is bearish. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. 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. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
13
DXYHTF weekly chart analysis shows that W3 is likely in at my $109.50 target posted 3-4 weeks ago in my group channel & here on TV as well. The extended 3rd wave is actually structurally perfect. W3 hits the 1.618% fib extension as in most strong bullish momentum charts and forms a bearish hammer top on the weekly showing that the top of wave 3 is likely now in. This being said W4 can hit the 618% fib retracement level around $97.32 or the 50% at $99.60 or even the 382% around $101.88. As of now there's no way to be sure how wave 4 plays out but I expect Wave 4 to hit $98 and during this TF of the DXY W4 the stock market & crypto markets should outperform vs the DXY and possibly we finally get the big blow off top to the SP500 around 6,000 and $78k BTC. After that W5 will come fast and destroy any risk assets.
TVC:DXYShort
by Big_Mike716
Oil Declines as Traders Weigh Mideast Supply After Biden TripOil eased as investors weighed the odds of more supply from the Middle East after a landmark trip to the region by US President Joe Biden. West Texas Intermediate edged lower in early Asian trading, following last week’s drop of almost 7% as investors fretted that a global slowdown may hurt demand and the dollar hit a record. US energy envoy Amos Hochstein said he is confident Persian Gulf producers will increase output after Biden’s visit to Saudi Arabia. Investors also focused on the return of crude from Libya. Prime Minister Abdul Hamid Dbeibah said that the country’s exports are on track for a full resumption after months of outages as he justified his replacement of the leadership at state-run oil company National Oil Corp. Crude has slumped since mid-June as concerns about a potential recession ripped through commodity markets, eroding the gains that followed Russia’s invasion of Ukraine. While the drop has been a boost for the US administration, Biden remains eager to get the Organization of Petroleum Exporting Countries to add supplies to bring prices down further and help quell inflation. In India, meanwhile, gasoline and diesel sales during the first half of July dropped from last month as seasonal rains cut demand in the third-biggest energy consumer. The drop was the first monthly decline in three months. The pressing global need to slash emissions in the face of a growing climate crisis is driving renewed interest in nuclear power — and few places more sothan in Canada’s oilsands. While the idea of using nuclear power to replace the fossil fuels burned in oilsands production has been bandied about for years, some experts say the reality could be just a decade or so away. On paper, at least, there is more potential to deploy small modular reactor (SMR) technology in the oilsands region of Alberta than anywhere else in the country. Without a doubt the oilsands is the biggest market for small modular reactors in Canada,” said John Gorman, president and chief executive of the Canadian Nuclear Association. “It’s something that some companies are very actively looking at.” Small modular reactors are a type of nuclear design that is far smaller than a traditional nuclear reactor. Generating between 10 and 300 MW of energy, SMRs are fully scalable and are designed to be built economically in factory conditions, rather than on site like a large-scale conventional reactor. While SMRs are not yet commercially available, the technology is getting close. The International Atomic Energy Agency estimates that nearly 100 SMRs could be operating around the world by 2030. In Canada, four provinces — New Brunswick, Ontario, Saskatchewan and Alberta — have agreed to collaborate on the advancement of SMRs as a clean energy option, and Canadian researchers are working on new materials and designs that could make SMRs practical in a large range of new uses. Article content Proponents say SMRs could potentially be used not only to provide clean electricity to smaller electricity grids, like those in rural areas, but also to provide heat for natural resource industries. In the oilsands, operators use massive amounts of high-temperature heat to produce the steam needed to extract bitumen from sand — and they get that heat by burning natural gas. In total, the oil and gas industry is responsible for 30 per cent of Canada’s natural gas consumption, which means confronting the industry’s fossil fuel usage will be key if Canada is to meet its climate commitments. The oilsands industry itself — through an organization called Pathways Alliance, which is made up of Canadian Natural Resources Ltd., Cenovus Energy Inc., ConocoPhillips Canada, Imperial Oil Ltd., MEG Energy Corp. and Suncor Energy Inc. — has committed to reducing greenhouse gas emissions from oilsands production by 22 million tonnes annually by 2030, and reaching a goal of net-zero emissions by 2050. Article content To help get there, the Pathways Alliance has proposed a major carbon capture and storage transportation line that would capture CO2 from oilsands facilities and transport it to a storage facility near Cold Lake, Alta. That project alone could deliver about 10 million tonnes of emissions reductions per year and could be up and running by the end of the decade. But Pathways has also formed a committee to formally explore nuclear as an alternative to natural gas in oilsands production. “Absolutely, we are looking at SMRs as a low or no-emission source of the high temperature heat we need,” said Martha Hall Findlay, chief climate officer for Suncor Energy Inc. “But it has to be economically viable. It has to make sense.” Article content Findlay said the industry will need clarity around what level of government financial support, if any, will be available for SMRs. There are also questions around the regulatory process, given the energy sector’s frustrating experience in recent years getting large-scale projects approved. “It’s Canada — it takes a really long time to build anything,” she said. “But if we want to see implementation by 2030, or into the early 2030s, we have to be doing this stuff now. We have to be looking at it now.” Dan Wicklum, president and CEO of non-profit advisory group The Transition Accelerator and the former CEO of the Canadian Oilsands Innovation Alliance, said the energy industry has formally evaluated the nuclear opportunity in the past and discarded it, largely because of cost. Article content But he said the industry’s new target of net-zero emissions “changes everything.” “We can no longer just do the things we were going to do to reduce emissions. Optionality has fallen off the table for us,” Wicklum said. “In an emissions elimination paradigm, there’s no question that nuclear is being taken very seriously.” However, Wicklum added that for any large-scale emissions reductions projects to get off the ground, governments and industry will have to come to an agreement about whose responsibility it is to pay for them. “Industry is looking to the federal government to say, ‘make it worth our while’, he said. “They want more taxpayer dollars. They’ve essentially said there’s not enough public support right now for them to act. And because of that, I think, the feasibility of SMRs — as well as carbon capture and storage, and so on — is completely in question.”
OANDA:BCOUSDShort
by DaveBrascoFX
1
Crude oil will probably find its long term top soonAfter almost two and a half years, i decided to come back to tradingview again. Right now i am working for one of the largest commodity trading houses and covering our metals trading business in Asia. In the future, i will try to share as much as my personal views at here, also you all welcome to challenge and discuss. In the last few months, we see an incredible inflation increased in Europe and USA due to the Ukraine war. The gap of export push the price of almost all kinds of commodities to the historical high, including agriculture products, energy products, metals, etc. The people in Europe and USA are suffering from this sudden increasing of living cost, which also brings a lot of pressures to their governments. For crude oil, I think those leaders will give up to the inflations and try their best to buy Russian oil and Russian gas to lower down their domestic energy price. ( I believe that they will also buy a lot of corn and wheat from Russia ) In the other hand, the Fed's rate hiking decision will keep bringing pressures to the commodity market. So due to the economic cycle and potential cooling down of global energy crisis, I think Crude oil will find its long term top soon. At the technical side, i marked two resistances and one support line. For sure, the resistance zone will attract many bears to join the fight.
NYMEX:CL1!Short
by Nee_sh
Brent Crude Oil - Elliott wave theoryHave we just completed Elliott wave 1 of a crude oil bull market which I would argue started in November 2021 with Pfizer vaccine news?? Others may say it started from June 2020 after the May 2020 crash low touching zero or below briefly. I have a question for viewers if Elliott waves up to 5 does indeed play out again for oil (and commodities in general) how can one have any clue how much time this will take? Please refer to March 1999 (just before dot com crash) through to June 2008 (onset of GFC) Brent crude oil price chart to see how Elliott waves 1, 3 & 5 up-moves happened with waves 2 & 4 corrections.
OLong
by CryptoJoe128
1
India tricks the West, Strong dollar & China imports russian oilOil top might be in for this year. Reasons: 1. Market adjustment mechanisms are underway on the commodity markets, ensuring that Russian oil, which is spurned by the West, once again finds its buyers (india, china). This in turn causes these countries to demand less Brent or WTI oil, which again depresses prices. India and China are buying significantly more crude oil from Russia, Europe less, which means there is a balancing out taking place on the world markets with the new tanker routes and transportation routes. 2. India recently bought more oil from Russia than ever before, according to a recent report by the Finnish Energy and Clean Air Research Center. "A significant portion of the crude is re-exported as refined oil products, including to the U.S. and Europe, an important loophole to close," the Finnish analysts warned. Since new sanctions measures are very unlikely, the alignment process between Russian oil and Brent and WTI crudes is likely to continue. 3. Dollar price, interest hikes & recession fears by FED. The strong dollar is also acting as an additional burden on the oil market. This is because commodities such as oil are traded in dollars. If you read between the lines of the FED, they're doing their best to crush commodity and oil prices to crush long-speculators on comm and oil. 4. Fear of new lockdowns in China. Chinese head of state Xi Jinping nevertheless only recently announced that he would stick to the strict zero-covid strategy. This is fueling fears of new lockdowns in China = downside risk for oil demand in China, probably a small impact, since the gov in China is trying its best to avoid a greater corona outbreak in large cities to stabilise eco. situation. 5. bitcoin/tradional markets are sometimes seen as counterparts to oil. Bitcoin, despite very bad news (CPI increased) and being a risk asset, has not moved much further down in price, showing that risky assets have more or less found their bottom while oil bulls have an empty tank. Opinion: I see the price cooling down slowly rather than continuing to climb, probably going towards 70-60$ in the next 6-10 months. ! This is not an investment advise! Do your own research! This is NOT a recommendation to buy or sell oil shares and this is NOT a recommendation to short or to long oil!
FX:UKOILShort
by Lobotto
High chances of a WTI bullish reversalAfter a major 7%+ drop yesterday WTI is starting to show signs of a possible reversal. To be a successful day trader, or any kind of trader/investor for that matter, you need to have an arsenal of patters which have worked for you in the past and have a high probability rate of success. To us this is one of those patterns, and below is the criteria: - Price at strong lows - Price action starts forming higher lows - Straight line resistance Thats all there is to it, this pattern is NOT completed yet, but it is starting to show signs of it hence why I added "high chances" in the subject of this post. I am watching it like a hawk and will be ready to execute long positions if the pattern is completed. This pattern has worked for me more times that it has not hence why I am super focused on taking advantage of it if it works up and start buying WTI, while if it fails I'll be ready to sell, but only if there is strong enough momentum. What patterns work best for you? *See the related post for higher time frame analysis
OANDA:WTICOUSDLong
by PrimedGroup
WTI oil - The backwardation points to the lower price of oilIn the past three months, we warned investors about the imminent trend reversal in the oil market. Accordingly, we set price targets for USOIL at 100 USD, 95 USD, and 90 USD. Yesterday, our short-term price target of 100 USD was taken out. Due to that, we would like to update our thoughts on USOIL. We continue to be bearish on the asset and expect the volatility to stay persistent throughout the third quarter of 2022. Additionally, we expect the prospect of a global recession and production hikes to impact the price negatively. Our views are also supported by bearish technical developments across daily, weekly, and monthly time frames. Because of that, we would like to update our medium-term price target of 95 USD to the short-term price target; additionally, we would also like to update our long-term price target of 90 USD to the medium-term. Illustration 1.01 WTI oil dropped approximately 25% from its 2022 high to yesterday's low, entering the bear market territory. Technical analysis - daily time frame RSI, MACD, and Stochastic are all bearish. The same applies to DM+ and DM-. The ADX hints at growing bearish momentum. Overall, the daily time frame is bearish. Illustration 1.02 The picture above shows crude oil futures for September 2022. The market backwardation hints at lower prices for oil in the future. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, DM- are all bearish. Overall, the weekly time frame is bearish. Illustration 1.03 Illustration 1.03 shows another oil futures contract, but for January 2023. These contracts trade at far less, near the 87 USD price tag. 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. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
17