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Wticrudeoil

WTI Crude oilOur overview: Despite EIA report a big draw in stock and the impact of the Red Sea commercial routes disruption, is still not clear, the market experienced a deep selloff. In our opinion due to end of year portfolios correction and take profit. Trends analysis: Primary(purple): upward corrective structure wave B, intermediate(green): downward corrective structure wave B, minor(yellow): upward corrective structure wave A, intraday(orange): upward impulsive structure wave 1. Our current strategy: Aggressive Long looking for a technical rebound with first target @$73.80. Our current position's risk profile @$72.20: delta +0.48, gamma +0.19 Hedging point: on breakout $71.50
NYMEX:CL1!Long
by DeltaZeroProprietaryTrading
WTI Crude oilOur overview: Once more API data highlighted weak demand, let's see if will be confirmed by EIA report scheduled today. Trends analysis: Primary(purple): upward corrective structure wave B, intermediate(green): corrective structure wave A, minor(yellow): downward impulsive structure wave 5, intraday(orange): downward impulsive structure wave 3. Our current strategy: Neutral. Our current position's risk profile @$74.04: delta 0.06, gamma 0.017 Hedging point: Not set Targets: @$75.58 @$75.14 @$74.38 @$73.77 @$73.15 @$72.49 RSI "D": Neutral Stochastic "D": Positive RSI "H": Negative Stochastic "H": Negative RSI "5min": Negative Stochastic "5min": Negative
NYMEX:CL1!Short
by DeltaZeroProprietaryTrading
Disruption to the oil supply chain averted (at least for now)Following the initiation of Operation Prosperity Guardian in the Red Sea, major shipping companies like Maersk and Hapag-Lloyd began to reverse their recent decisions to halt transit through this waterway. That is positive news for the world as the region is estimated to account for about 12% of global trade, with 340 million metric tons of cargo and 8.2 million barrels of oil passing through daily. Nonetheless, as disruption to the oil supply chain seems to be averted, this news is likely less favorable for the oil price, which is currently trading near $75.50 per barrel. With that said, we have no reason to change our outlook for the next year, and our price target stays at $65 per barrel; however, in the short term, we acknowledge that USOIL may move higher (potentially somewhere in the range between $77 and $78) before reversing. We will update our thoughts with the emergence of new developments. Illustration 1.01 Illustration 1.01 shows the daily chart of USOIL. The yellow arrow indicates a bullish breakout above the upper bound of the downward-sloping channel, which is quite bullish (unless invalidated). Technical analysis Daily time frame = Slightly bullish 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.
TVC:USOILShort
by Tradersweekly
2
WTI Crude oil - last update.Our overview: RED SEA uncertainty regarding commercial vessel traffic routes still on focus. Waiting for the API data. Trends analysis: Primary(purple): upward corrective structure wave B, intermediate(green): corrective structure wave A, minor(yellow): downward impulsive structure wave 1, intraday(orange): downward impulsive structure wave 5. Our current strategy: Neutral. Our current position's risk profile @$75.43: delta -0.036, gamma 0.0075 Hedging point: Not set Targets: $79.50 $77.80 $76.52 $74.87 $74.07 $73.35
NYMEX:CL1!
by DeltaZeroProprietaryTrading
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 .
EASYMARKETS:OILUSDShort
by SHAlavi
1
Oil tankers and cargo ships at danger in the Red SeaSince the breakout of the Israel-Hamas War on 7th October 2023, there has been an increasing number of attacks on military and transport ships sailing through the Red Sea, with Houthi rebels from Yemen standing behind many of these incidents. About a week ago, the group went as far as to announce the blockade on ships traveling to and from Israel through the Red Sea, which prompted large transportation companies to announce a pause on shipping through this particular route. The Danish shipping company, A.P. Moller Maersk, announced last Friday that it would halt all shipping via the Red Sea route following a near-miss incident involving Maersk Gibraltar on Thursday and another attack on a container ship. The next day, the Medditerean Shipping Company announced the same thing following Friday’s attack on its vessel MSC Palatium III. These two companies were quickly joined by Hong Kong based Orient Overseas Container Line, Taiwanese Evergreen, Belgian Euronav, and French CMA CGM Group, which happens to be the third-largest container shipping company in the world. Then, yesterday, the first major oil and gas transporter, British Petroleum, announced it would also halt shipments through the Red Sea. As a result, many of the mentioned cargo ships and oil tankers will have to be rerouted via alternative paths; such changes are likely to cause (some) supply chain disruptions and soaring costs for transporting goods (as well as operating expenses for the companies themselves). To resolve the situation after weeks of relentless drone and missile attacks, the United States finally announced yesterday that it would no longer tolerate Houthis’ aggression in the region and that it would form a task force responsible for protecting international waters in the Red Sea and Bab Al-Mandev Strait. As for our outlook for the oil market, it remains unchanged, with a price target of $65 per barrel in 2024. However, we are aware that the situation could deteriorate further if Iran-backed Houthis continue to ramp up their attacks in the foreseeable future (especially against U.S. warships, which has been the case recently). We will closely monitor the situation and report new developments once they arise. Illustration 1.01 Illustration 1.01 displays the daily chart of USOIL and simple support/resistance levels derived from past peaks and troughs. Technical analysis Daily time frame = Bearish (turning neutral) Weekly time frame = 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 or any other entity. Your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
2
WTI OIL Still in the long-term Buy Zone.WTI Oil (USOIL) hit our 73.50 short-term Target that we called on December 07 (see chart below) but remains within the 2 -month Channel Down: On the wider 1D time-frame, we can clearly see that the price is still inside the 9-month Buy Zone. The tendency is that when the 1D MA50 (blue trend-line) breaks after dipping within the zone, the price approaches the 0.618 Fibonacci retracement level. The 1D RSI is on a Triple Bottom, i.e. confirmed Low and buy opportunity while the 1D MACD is on a Double Bullish Cross. As a result, we are waiting either for another pull-back to 68.00 - 69.00 or the 1D MA50 to break (and close a 1D candle above) and target 82.50 for the medium-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
WTI CRUDE OIL Buy the pull back.WTI Crude Oil continues to trade inside the Channel Down that started after the September 27th High. The MA50 (4h) recently supported the price and provided today's rebound. Based on the prior bullish leg, one last pull back remains in order to test the top of the Channel Down. Trading Plan: 1. Buy on the MA50 (4h). Targets: 1. 75.00 (MA200 (4h) and top of the Channel Down). Tips: 1. The RSI (4h) sequences among the two bullish legs are identical, confirming the bullish sentiment after a pull back. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOILLong
by TradingBrokersView
WTI / OIL H4 Possible LONG Trade. 📈 ✅Hello Traders! This is my view related to WTI / OIL H4. As you can see, OIL is in a very interesting phase, It took liquidity, set a new daily high, react from the OB (D1), and I expect a bullish movement until the level of 78.000. Traders, 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. ______________________________________________________________________________ Follow, like, and comment to see my content: www.tradingview.com
BLACKBULL:WTILong
by GoodTradeST
A rebound in USOIL might not be done yetLast week, West Texas Intermediate crude oil reached our price target of $70 and slid as low as $68.83 per barrel. After this route, USOIL has slightly rebounded and currently trades near the $71.50 price tag. In the very short term, we acknowledge a potential for the price to continue higher. Indeed, this would be consistent with a natural occurrence of the price retracing toward its moving average, particularly the 20-day SMA. Yet, if the price breaks above this level and starts to consolidate there for a certain period, it might foreshadow even higher price tags; we will reassess our view if we get there. Beyond this short-term speculation about the prospects of further rise in USOIL, we stay bearish. Accordingly, our price target of $65 per barrel for the next year remains valid. Illustration 1.01 The image above shows the daily chart of CL1!. Red arrows highlight the decreasing price accompanied by falling volume (suggesting the selling pressure might be decreasing as well). Illustration 1.02 Illustration 1.02 displays the daily graph of USOIL and simple support/resistance levels derived from particular troughs. Technical analysis Daily time frame = Bearish Weekly time frame = 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 or any other entity. Your own due diligence is highly advised before entering a trade.
TVC:USOILLong
by Tradersweekly
5
WTI CRUDE OIL: Below the 1W MA200. Critical Support to hold.WTI Crude Oil crossed today under the 1W MA200, which is a level that, even though it broke on occassions this year, hasn't closed a 1D candle under it since February 1st 2021. Those occasions are marked by circles on your chart and as you see despite breaking under it, the price rose intraday closing the candles over the 1W MA200 at the end of those sessions, essentially holding it as long term Support. It is now critical therefore for buyers to hold the 1W MA200 and push the candle above it before the closing bell today. The 1D technical outlook is strongly bearish (RSI = 31.049, MACD = -2.590, ADX = 35.758), which is normal considering that the commodity has been trading inside a Channel Down since the September 28th High. However having touched the 30.000 oversold level on the 1D RSI, it makes the case for a rebound stronger, since every time it gold oversold during this (almost) 2 year span, an aggressive rebound followed. Consequently, as long as the 1D candles close over the 1W MA200, we will be buying and aming for the top of the Channel Down (TP = 76.50) and potentially the 1D MA50. If however the candle closes under it, we will aim for the 1.786 Fibonacci extension (TP = 66.50) as the November 8th Lower Low did. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOIL
by InvestingScope
WTI Crude oilOur overview: Weakness and negativity prevail waiting the API report tonight. In the overnight session price steady at the support area @$73.00. Technical signals: RSI negative and Stochastic negative. Trends analysis: Primary(purple): downward impulsive structure wave 5, intermediate(green): corrective structure wave B, minor(yellow): impulsive structure wave 3. Our current strategy: Long, looking for a technical rebound. Our current position's risk profile @$73.23: delta 0.51, gamma 0.124 Hedging point: on breakout $72.90 Targets $76.50 $75.00 $74.20 $73.00 $72.40 $71.80
NYMEX:CL1!Long
by DeltaZeroProprietaryTrading
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
NYMEX:CL1!
by DeltaZeroProprietaryTrading
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
NYMEX:CL1!
by DeltaZeroProprietaryTrading
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 Follow the live trading session streamed every days from our desk. Find out more and the broadcast timeline on our Web & Channels
NYMEX:CL1!Long
by DeltaZeroProprietaryTrading
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
NYMEX:CL1!Long
by DeltaZeroProprietaryTrading
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
NYMEX:CL1!Long
by DeltaZeroProprietaryTrading
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.
NYMEX:CL1!Long
by DeltaZeroProprietaryTrading
WTI OIL Excellent buy opportunity.WTI OIL (USOIL) has been trading within a long-term Rectangle since the August 30 High. This is most accurately displayed by the use of the Fibonacci retracement levels where we can see that the majority of the price action has been within the 0.236 - 0.618 Fibonacci range. We call that the "High Volatility Zone". On November 16 the price almost hit the bottom of that Zone and since the 1W MA200 (red trend-line) is just below and has been the long-term Support (hasn't closed a 1D candle below it since January 29 2021!), we consider the commodity to have significant upside potential. On top of that, the 1D RSI has Double Bottomed on the oversold barrier of 30.00 (where it always gave strong rallies on May 04 2023, March 17 2023, December 09 2022 and September 26 2022) while the 1D MACD formed a Bullish Cross (with all such crosses below the 0.00 mark being a buy signal). We are bullish at least for the short-term, targeting the 0.5 Fibonacci level at 80.50, expecting also a potential contact with the 1D MA50 (blue trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
2
WTI Crude oil front expiration - last updateOverview: EIA data and OPEC+ meeting postponed, make tumble the market. My dear volatility!!! Strategy: Neutral. Follow the market. Our current position's Delta @$76.39: 0.03 This are all the corrections we made today 5)rebalance: @$76.39 (from 0.23 to 0.03) 4)rebalance: @$75.70 (from 0.62 to 0.03) 3)rebalance: @$73.90 (from -21 to 0.30) 2)rebalance: @$74.50 (from -0.30 to 0.05) 1)rebalance: @$76.10 (from +0.28 to +0.03) rebalance: @$75.45 (from -0.58 to +0.06) Technical signals: RSI positive signal just if cross in positive area Stochastic still in negative area. Trends analysis: primary(purple): corrective structure wave A intermediate(green): corrective structure wave B minor(yellow): corrective structure wave C close Bullish targets: first@ $77.00 second@ $78.70 Mandatory rebalance level /Stop loss: not set Bearish targets: first@ $75.00 second@ $73.90
NYMEX:CL1!
by DeltaZeroProprietaryTrading
WTI Crude oil front expiration - last updateOverview: Another massive build on API crude oil stocks, conflicting with a big distillate inventory draw, and next Sunday OPEC+ meeting are the main factors driving the market to a stall awaiting the official EIA data scheduled today. Strategy: Neutral following the market. Our current position's Delta: -0.09 barely negative Last rebalance: at $77.87 from +0.19. Technical signals: RSI still in neutral area. Trends analysis: primary(purple): corrective structure wave A intermediate(green): corrective structure wave B minor(yellow): corrective structure wave B Bullish targets: first@ $79.00 second@ $79.80/$80.00 Mandatory rebalance level /Stop loss: as we are neutral our system doesn't set any level. Bearish targets: first@ $76.00/$75.40 second@ $74.70/ $73.90
NYMEX:CL1!
by DeltaZeroProprietaryTrading
WTI Crude oil front expiration - Last updateOverview: Awaiting the FOMC minutes and API crude oil stocks Strategy: Our current position's Delta: +0.10 (rebalanced at $77.18 from -0.73). Follow the market. Technical signals: Stochastic crossed the signal but still in negative territory, RSI in neutral area. Trends analysis: primary(purple): corrective structure wave A intermediate(green): corrective structure wave B minor(yellow): corrective structure wave A Bullish targets: first@ $78.80/$79.00 second@ $79.70/$80.00 Mandatory rebalance level /Stop loss: as we are neutral is not set Bearish targets: first@ $76.80 second@ $75.80/$75.60
NYMEX:CL1!
by DeltaZeroProprietaryTrading