dr confirmation short crude oildr idr price confirmed on the shortside analyzed dr lens max retracement and max extension for projecting price possibly going on the downside.Shortby ptwPTWPublished 0
More Weakness to Come for Crude? Crude oil has experienced a decline of over $13 from its 2023 highs, reflecting traders' anticipation of weaker economic growth and a slowing consumer. Despite OPEC's announcement of additional production cuts and the ongoing efforts of member countries to defend prices throughout the year, it is evident that the market is bracing for diminished demand. Recent Developments: Recent figures from the Atlanta Fed GDP Now model for Q4 reported a growth rate of 1.2%, falling short of the expected 1.8%. Additionally, this week's JOLTs numbers for Job Openings came in at 8.73 million, below the expected 9.3 million, and ADP Non-Farm Payrolls on December 6th registered 103k, lower than the anticipated 130k. These indicators indicate emerging signs of a weakening labor market, prompting expectations of interest rate cuts as early as March 2024. More Selling to Come? The occurrence of the Death Cross, observed in the crude market on November 30th when the 50-Day EMA crossed below the 200-Day EMA, suggests potential further downside momentum. While technical analysis indicates the likelihood of additional downward movement, significant support is anticipated at the psychologically significant $70 level. Continued weakness in economic data could, however, pose challenges for crude's ability to maintain support in the near term Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.by Blue_Line_FuturesPublished 3
WTI crude oil (CLF)5DMA (red) declining so I only look for (swing) shorts. Anchored VWAPS (blue).by TraderNL4Published 0
SHORT CRUDE OIL ❗❗Crude took a very good rejection in fib most important zone By looking at cfd chart crude can show a good move toward downside We can sell crude at cmp 6350 with a sl of 6650. Can expect a target of 6000-5800 It a like of swing trade....Shortby IKARANUpdated 113
CL1! Crude Oil Day Trade 6-Dec-2023TRADE DIRECTION: SHORT; as indicated by the red EMA cloud and the market structure. KEY LEVEL: 1) Round numbers S&R with 25 ticks range between each level (hidden) 2) Monthly, Weekly and Daily Pivot levels. TRIGGER SIGNAL: Price broke the previous day's low (green circle) and retraced to the bearish EMA cloud. A bearish pin bar (in yellow circle) formed as a sign sellers are ready to push the price down. The Profit target is set to be 3 ticks above the Daily S3 (white circle). RR: 1:1.56 SL: 54 Ticks TP: 84 Ticks (achieved)Shortby TheDemonTraderPublished 0
Crude Oil Futures Technical AnalysisOil should find a bottom around this support zone between $67.05 and $72.26 a barrel. If it does and starts to rally higher, there is major resistance at the $72.26 level. If this level is broken, the next resistance level is around $81.50, with substantial resistance up at $93.74 per barrel. If Oil can break the $93.74 level, it will likely make a run back to the highs.by SolarEclipseNPublished 1
Crude Oil: Is There a New Slump Loooming?WTI crude oil futures stabilized at over $73 a barrel Tuesday on a possible technicalrebound. Investors are still assessing the global oil supply and demand situation while prices have posted a loss of more than 6 percent in the last three trading sessions. There are doubts about supply reduction by OPEC+ that may not have a significant impact on prices, and negative economic data from major economies are increasing fears of a decrease in energy demand. Last week, some OPEC+ (Organization of Petroleum Exporting Countries) members including Saudi Arabia, the United Arab Emirates and Kuwait voluntarily announced further production cuts of 2.2 million barrels per day, while others have not yet made any commitments. In addition, the Saudi energy minister told Bloomberg on Monday that the cuts can "absolutely" continue beyond the first quarter if necessary. Meanwhile, traders remained concerned about the geopolitical situation in the Middle East after the escalation of fighting in the Gaza Strip over the weekend. The market is looking ahead to 2024 with concern about a possible oversupply in the first quarter of next year due to seasonally lower demand. However, OPEC+ has recently taken steps to prevent this expected surplus. Observed & Projected Crude Oil InventoriesObserved & Projected Crude Oil Inventories Saudi Arabia and Russia have decided to extend voluntary supply cuts until the end of the first quarter of 2024, and other members have announced further supply reductions. I am concerned about what is happening. For an investor, hearing about "voluntary cuts" is a nightmare. An organization like OPEC cannot afford such a situation, and the same goes for a CEO who has to be crystal clear when providing business estimates. It is clear that the market has reacted negatively to this news, and we will continue to monitor the situation closely. The latest OPEC+ meeting highlighted some important issues within the group. First, some members (notably Angola) are dissatisfied with their production quotas for 2024 and have stated that they will reject their quota level for next year. However, from the supply side, given the pressure we have seen on Angolan production, this is unlikely to have much impact on the market. The biggest concern for OPEC+ should be the fact that they have been unable to agree on group-wide cuts, with some members choosing voluntary cuts instead. Futures Petrolio Greggio Leggero Daily ChartFutures Petrolio Greggio Leggero Daily Chart This chaos within the group is making it increasingly difficult for some members to endure further cuts. From a technical point of view, the graphical situation is not positive. Prices remain below the moving average of 100, and the bearish trend is supported by above-average volumes. In my previous research, I correctly predicted the collapse of oil prices and achieved my goal. However, for the first quarter of 2023, I update my oil price estimates to $65. My negative view is influenced by the growth in U.S. oil supply, which has exceeded expectations in 2023 with a projected growth of one million barrels per day to a record 12.9 million barrels per day. This abundant increase in supply is hurting oil prices, and the chaotic situation within OPEC is not helping.Shortby Antonio_FerlitoPublished 0
Oil (CL) Should See at Least 3 Waves Rally SoonCycle from 9.28.2023 high in Oil (CL) is in progress as a 5 waves impulse Elliott Wave structure. Down from 9.28.2023 high, wave 1 ended at 81.50 and rally in wave 2 ended at 90.78. Oil then extended lower in wave 3 towards 72.16. Wave 4 at 79.55 as the 1 hour chart below shows. Up from wave 3, wave ((a)) ended at 78.22, and dips in wave ((b)) ended at 73.79. Wave ((c)) higher ended at 79.55 which completed wave 4. Up from wave ((b)), wave (i) ended at 77.15 and wave (ii) ended at 74.06. Wave (iii) ended at 79.6, wave (iv) ended at 77.91, and wave (v) ended at 79.55 which completed wave ((c)) of 4. Oil has turned lower in wave 5. Internal subdivision of wave 5 is unfolding as a 5 waves impulse structure. Down from wave 4, wave ((i)) ended at 75.05 and wave ((ii)) rally ended at 77.07. Oil then turns lower in wave ((iii)). Down from wave ((ii)), wave (i) ended at 75.1 and rally in wave (ii) ended at 76.76. Oil extends lower in wave (iii) towards 72.86, wave (iv) ended at 74.20, and final leg wave (v) ended at 72.63 which completed wave ((iii)). Wave ((iv)) correction ended at 74.12. Expect Oil to extend lower in wave ((v)) of 5. Near term, as far as pivot at 79.55 stays intact, Oil has scope to extend a bit lower to end the 5 waves move before larger 3 waves rally takes place.by Elliottwave-ForecastPublished 7
DR IDR crude oil long ADRADR session price confirmed on the long side, analyzed DR lens data to project price possibly going up.Longby ptwPTWPublished 0
triple correctionCL probably on accumulation phase due to OPEC to cut production I think this price area might be area that big player will buy hammer candlestick with good buy volume and momentum divergence confirm this entry Longby tofinsePublished 1
forecasting LIGHT CRUDE OIL in daily chart Hello to all investors, according to my previous studies and according to my experience as a trader, I see a good investment opportunity with a high probability of success, the details are reflected in the graphShortby yassir90Published 0
dr idr crude oil short confirmationcrude oil confirmed on the downside, analyzed dr lens for stop and take profitShortby ptwPTWPublished 0
CRUDE OILPreferably suitable for scalping and accurate as long as you watch carefully the price action with the drawn areas. With your likes and comments, you give me enough energy to provide the best analysis on an ongoing basis. And if you needed any analysis that was not on the page, you can ask me with a comment or a personal message.. Enjoy Trading... ;)by sepehrqanbariPublished 5
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 $71.80Longby DeltaZeroFinancePublished 0
dr idr contractionprice confirmed on the downside, analyzed dr lens data for price and target to previous DR levels.Shortby ptwPTWPublished 0
Crude: A Bit Further Down?Crude and XLE are in a precarious position and could be on the verge of seeing lower prices. I suspect any pullbacks in the market may cause the energy sector to be a major laggard to the downside. Good luck traders!Shortby Fox_TechnicalsPublished 0
Crude Oil - December SeriesOn 4 hour time frame it is seen that trend is broken on short time frame (Black Color) trendline Target till major trendline (green colour) is coming to around 6800 Expected Oil price to reverse from there This chart is only for educational purpose Do your on study before taking any tradesLongby be_you_akshayUpdated 4
Crudeoil - November EndCrudeoil Multiple Supports found Few Resistance Points seen Trade Upside possible only above 6337 technically with Stop Loss at 6300 This chart is only for educational purpose do your own study before taking any tradesby be_you_akshayUpdated 0
MCL analysisPrice meet double top setup and fall into 76.11 and make flag pattern, the target profit will be around 2nd pole 72.59 If price able to break and close 72.35 , the trend will continue bearishShortby hafizidris1994Published 2
BEAR POWERCRUDE OIL IN A STRONG BEAR TREND AS CONTINUES IN DOWNTREND CAN GO FURTHER DOWN SUBJECTED TO DEMAND AND SUPPLY WAIT FOR CONFIRMATION i.e a stong bear candle in 15 min its my analysis do yours dont tradeShortby EveryonebecometraderPublished 1
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 $71.80by DeltaZeroFinancePublished 0
Short Trade Potential opprtunity on USOIL Looking for a Short entry on USOIL Entry @ 75.19 PTGT @ 73.40Shortby Kevin_raging_bull_OrlandoPublished 111
Crudeoil Buy Setup heresuper valid looking. leave a comment if you like my entry setup.Longby nandupkPublished 1110