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Wti Crude Oil 12 Month Spread SyntheticWti Crude Oil 12 Month Spread SyntheticWti Crude Oil 12 Month Spread Synthetic

Wti Crude Oil 12 Month Spread Synthetic

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3A1! trade ideas

a daily price action after hour update - oilGood evening and i hope you are well. wti crude oil This chart is obviously the hardest because big trading range for a long time where market is absolutely neutral and both sides have all the arguments for their case. bull case: Strong enough rally to 78 and they want to print 80 for a higher high. They will probably give up below 75.5 and try again around 70. Again. bear case: Bears did what they had to and kept it under last weeks high to form a lower high. They now need follow through below 75.5 to make a lower low and that’s where the stop for most bulls is and another short signal for the bears. short term: down - invalid above 79.3 medium-long term: sideways until clear break of range between 70-80 trade of the day: shorting the double top with yesterdays high 78.47 and adding on to shorts on pullbacks. 15m 20ema was money today
NYMEX:MCL1!Short
by priceactiontds
1
a daily price action early hour update - oilGood morning and i hope you are well. wti crude oil bull case: Bulls still have the 80 target in sight and they are buying all pullbacks. The uptrend is weakening but i think then can get there. The 1h 20ema is holding pretty good and we are right at it. So it's a buy. The drawn wedge could get us there but bulls have more trend lines below which can hold. Last time bulls got near 79, bears surprised and trapped many late bulls. I don't expect something different for now. Invalid below 77. bear case: Bears look at higher timeframes and it's a big trading range. We are in the upper third and they sell the highs because they made money the last times they did it. Until bulls get consecutive big bull bars above 80, odds favor a continuation of this trading range 70-80. I doubt bears will die defending 78/79 and we will probably at least reach last weeks high 77.29 or 80 before more profit taking by the bulls and shorting by the bears unfold. short term: up to 79/80 before sideways to down medium-long term: Sideways until clear break of range between 70-80
NYMEX:MCL1!Long
by priceactiontds
Coffee Dxy Oil2.12.24 I thought the dollar would correct lower and it did but it could only go to a support area and then it found some buyers... so if I'm looking for the metals to go higher because the dxy went lower we're going to have to wait for some new bars. This is no big deal. Likewise, I thought that oil would go lower and it did But it tested a potential support area.... so we talked about that. I decided to talk about coffee because he gave me a chance to frame the chart and to show you that I would be looking at a range box to help me decide with any trade decisions and that this could be a tradable market because the vertical range of a range box makes it a viable trade as a buyer or a seller depending on trade location. If you can find a good range box with a decent vertical range, Don't be disappointed by this because it's not trending... these range boxes can set up to give you very nice reversal patterns it may be shorter term but they can give you nice rewards as a buyer and a seller.
NYMEX:CL1!
by ScottBogatin
A review of last week's oil chart2.10.24 If you're serious about learning a techniques that I'm showing here, I think it's important to go back and look at the videos on oil over the past week. this is because I'm using most of the tools that I use most the time, and I made some conclusions about how the market would transition into an acceleration if certain things happen... and this is based on my experience with changes in Market Behavior and how markets change for buyers and sellers. I'm not the only one that knows this.... this works because large numbers of people know these patterns even it's only intuitively. This is not intuitive if you're just starting out. In addition, Things happen as the markets moving and you have to modify your plan from time to time to accommodate these changes. and the more you learn to do this the better you will get at this. You really have to Recreate the patterns on your own chart or you will miss some of the important subtleties that can make a difference.
NYMEX:CL1!
by ScottBogatin
Oil to Clear 79.00 Big FigCurrently watching Crude Futs (NYMEX) to clear an Intermediate term High at 79.00 Big Fig. As my mentor says... "To & Through" Reasons: Crude Bullish Seasonally until march/April (Possible Quarterly Shift to downside) Commercials Net LONG DXY Bullish Failed to break lower on Daily (Indicating to me higher prices are in order) HTF MMSM, however Long in play to clear Buyside before reversing above highs & clearing distribution leg Sellside HTF (Daily): Expecting BSL to be ran and staying Bullish until trend broken & IOF Turns Bearish (Should happen above Highs) H4: Expecting a retracement into Internal Range Liquidity as outlined to target External Range Liquidity (Markets are booked like this, in a form of "Handshaking") LTF: Tuesday Feb 13th: US CPI Weds Feb 14th: US Crude Oil Inventories If Bias is correct and Weekly candle is due to expand to upside, I'd be looking for Tuesday to Form Weekly Low & take Longs Wednesday NY IF my model plays out.
NYMEX:CL1!Long
by Gremza_0x
Crude Oil Weekly forcast There is a good possibility of a good rise in Crude Oil next week, because a trend is being seen on the daily chart of Crude Oil, and with the support of this trend, Crude Oil is moving towards the 50-day Simple Moving Average, as well as Crude Oil It is also getting strong support from the 100 day simple moving average. But it should also be kept in mind that crude oil decides its direction according to many developments happening at the global level.
MCX:CRUDEOIL1!Long
by Sudhir-Sirohi
Crude Oil ReverseAfter a scary downside week the crude i anticipate for a 4% bounce back to 75$. The fundamentals are mixt base on the empty words ceasefire between Israel and Palestina with had also a impact in moving the price down. But over the weekend US have stike as response to Iran Attack witch may cause an impact in creating big moves. Should we not forget the OPEC meeting were the hold the cutting production plan in March. Technicaly after a big fall comes a small bounce. The indicators and the upper trend tell us that the price can consolidate at 70-72 range. The bounce will show us how the players are betting this week after a strong US economical reports. Buy 72.33$ TP1 74$ TP2 75$ SL 71$ Good luck guys!
NYMEX:CL1!Long
by georgethefirst
a daily price action after hour update - oilGood evening and i hope you are well. wti crude oil bull case: Amazing day by the bulls. They broke strongly out of the bear flag and made the market always in long on the daily so i expect follow through to 78 or higher. bear case: Bears see this as a trading range and they want the market to form a lower high below 78. After such a strong move on the daily, bears expect bulls to take profits and the market probably will go sideways before another leg up or down. short term: neutral here - valid targets on both sides and today was strong enough for a breather over the next 1-2 days. If bulls manage to keep this running, 80 is highly probable but first they need a higher high above 79. medium-long term: Sideways until clear break of range between 70-80 trade of the day: long → see chart
NYMEX:MCL1!
by priceactiontds
Follow up2.7.24 Gold Dxy Oil. In this video I show you how you could have taken profits of almost $3,000 on an oil trade depending on your entry. We worked with some of the tools that we use including ABCD patterns there was a an extension on the Oil that indicated that perhaps we should be exiting a long trade. We looked at the dollar with some detail to decide that it's probably going lower but we're not quite sure the extent but we picked two possible areas for the market to move and that affects how we would trade gold or silver
NYMEX:CL1!
by ScottBogatin
Possible rise in oil price to $80 in the next quarter?Possible rise in oil price to $80 in the next quarter? On Tuesday, WTI oil futures rose to $73.50 a barrel, highlighting rising tension in the Middle East and concerns that this could disrupt oil supplies from the region. This was caused by the continued increase in U.S. strikes against Iran-backed militias over the weekend. However, U.S. officials have made it clear that they do not seek a broader confrontation in the region. Last week, oil prices suffered heavy losses due to progress in ceasefire negotiations between Israel and Hamas, which significantly reduced supply risks in the Middle East. Although expectations of an immediate interest rate cut by the U.S. Federal Reserve have diminished and concerns about China's economic recovery persist, there have been no immediate supply disruptions. One of the most effective ways to understand the possible future of oil prices is to examine the structure of the futures curve. At the time of writing this article, the oil price for delivery in March 2024 is $73.02 per barrel, while the price for delivery in June 2024 is $72.50 per barrel. This could indicate a slight increase or stability in prices in the coming years, but of course there can be many variables affecting the oil market. We are experiencing backwardation. This phenomenon discourages conservation and instead promotes immediate delivery: why hold oil until March 2024 to sell it at a lower price than it is now on the open market? Backwardation usually indicates a greater balance between oil supply and demand, acting as a positive push on prices. The oil market seems to have a good outlook for the bullish. The EIA recently revised future oil production downward, forecasting a significant decrease in U.S. production in the first quarter of 2024. Instead of the previous 12.8-12.9 million barrels per day, it now estimates an average closer to 12.7-12.8 million barrels per day, with growth already steady at ~12.9 million barrels per day in December. Oil producers are also reporting a pause in production. U.S. shale oil producers' forecasts indicate a trend toward flat growth, almost completely disappearing. This means that with fewer resources to carry out drilling, the oil produced will decrease more and more. In the future, we expect lower oil production and a possible surprise in demand, especially if the stimulus in China is successful. China is one of the largest consumers of oil in the world. When their market fully recovers, we expect an increase in demand that could cause a supply shortage and thus a surge in oil prices. Currently, the situation from a technical point of view is negative. Prices are below the 100-day moving average, in the area at 76. The latest decline in oil prices was accompanied by the increase in volumes, which further strengthened the downward trend. However My projection for the next quarter is that oil prices will reach $80 per barrel. Don't miss my next article, where I will discuss the current situation in the natural gas market.
NYMEX:CL1!Long
by Antonio_Ferlito
Oil (CL_F) Rally May Fail for More DownsideShort Term Elliott Wave view in Oil suggests that rally from 12.13.2023 low is unfolding as a double three Elliott Wave structure. Up from 12.13.2023 low, wave ((a)) ended at 76.18 and dips in wave ((b)) ended at 72.89. Wave ((c)) higher unfolded as a 5 waves where wave (i) ended at 75.75 and wave (ii) ended at 73.41. Rally in wave (iii) ended at 77.51, and pullback in wave (iv) ended at 76.06. Wave (v) higher ended at 79.26 which completed wave ((c)) of W in higher degree. Pullback in wave X is currently in progress with internal subdivision as a zigzag Elliott Wave structure. Down from wave W, wave (i) ended at 75.85 and rally in wave (ii) ended at 78.14. Oil then extended lower in wave (iii) towards 71.79 and wave (iv) ended at 72.98. Final leg wave (v) ended at 71.41 which completed wave ((a)). Wave ((b)) rally is in progress as a zigzag. Up from wave (a)), wave (a) ended at 73.28 and wave (b) ended at 72.38. Expect wave (c) higher to complete at 74.23 – 75.38 area and this should complete wave ((b)) in higher degree. From this area, expect sellers to appear and Oil to extend lower. Near term, as far as pivot at 79.26 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.
NYMEX:CL1!
by Elliottwave-Forecast