Get started

Saudiarabia

USOIL: Short term updateUSOIL has filled our limit buys to take a short term long position, while we hold our weekly buys, and the add on we took recently. We have a validation target that needs to be hit within the next 2 days now. Tomorrow and until Friday, we have very data and news heavy days, so we can expect a sizeable move here, maybe even a make or break moment for this uptrend. If we respect the validation target, we can safely hold longs, if not we'll have to study price action closely, since we might embark in a correction in oil's uptrend. Good luck, Ivan Labrie.
TVC:USOILLong
by IvanLabrie
As #OPEC Meets, #Crude May Feel DisappointedTomorrow, members of OPEC will meet in Vienna, and it is unlikely there will be any policy shifts. Despite the dire straits some OPEC members are in, such as Venezuela, the current crude production policy will likely remain until Iran and Russia agree to some sort of production resolution. MacroView has been overly bearish since June 2014 but indicating that the one key dynamic factor in crude prices would be supply (same goes for Brent and OPEC). Essentially, West Texas Intermediate would continue to see woes until there were meaningful cutbacks in crude production, which finally began to filter through on a combination of record-low rig counts and bankruptcies (yes, bankruptcies are bullish). Crude output levels in the U.S. are at levels last seen during the second-half of 2014. West Texas Intermediate has been trading within the current supply range between $48/50 for the last 12 trading sessions, and price action is currently treating the current trend support on narrowing price action. If OPEC disappoints tomorrow, and break through trend would cause traders to seek out support near $42, while a confirmed breakout of the supply zone could trigger buying to $55. The weekly chart picture for crude: OPEC's production has largely offset declines seen by U.S. shale producers, and members will continue to press on. Iran has said they look to achieve 2.2 Mbbl/day to compete with Saudi for market share; Iraq and Kuwait both look to increase their production meaningfully. Non-OPEC member Russia continues to keep oil production at post-Soviet highs. Side note: expect volatility in commodities currencies on headline risk. The Canadian dollar has pulled back after gaining 18 percent on crude's rally, but it remains vulnerable. For more information on MacroView's products, or general questions and comments, feel free to message us. Also, readers are encouraged to post their thoughts and charts!
NYMEX:CL1!
by MacroView_Research
cup is empty... caffeine is wearing off.Back in the days of swing ... this was an inverted cup and handle. It was not a bullish sign. Today our computers can back check our our predictions, Algos, and ATMs. As they give us micro second opportunities. If my trading action happened at the speed of humming bird wings, my heart would explode. If you play against the herd, stay short into the weekend. But the safe bet would be long or cash. It is more likely any news (true or not) this weekend, will be to promote a oil bottom. Not likely any weekend news will push price down. But any rumor can push it up. It's the weekend.. I remain short oil..
FX:USOILShort
by BigEz
When predicting micro moves, remember the tide matters... Saudi Arabia controls the price of oil. Once you understand that, all technicals need to include variables for real world political manipulation of the worlds most important commodity. .... "Church of Krümel" Back in the day, there was a King, he turned off the blood supply to the industrial world. The world went into chaos, wars started... wars stopped. In the end the world found that one country... No, one man controls the affordable supply of the earths most important commodity . Agree or not with anyone's politics, technical reads, or overall forecasts... My approach is to start with the above in mind. Until we have a new king or new war, I see no reason to buy oil. Micro channel guys will laugh.. So much money to be made in the foam. This is true, though they may spend more time stressed that their finger is faster than a sword. I just invite those to know there are other ways to skin this cat.. Ways that allow for thought and time to walk outside. Charting has been around a long time. The tools are better.. but not always the results..
FX:USOILShort
by BigEz
Will Putin look like Chavez? Oil can change the world.Way too many people don't remember the 70s. Yea, yea Das Krümel is OG. We have seen embargos, wars, and the collapse of empires. While others have risen to rule. How would I remove my opponents from the game, if I controlled the the price of Item needed to both survive... or play the game? The Saudis can dump enough oil to bankrupt Putin. At the same time they keep their opponents in the region from growing into larger problems. Also lets not forget if I control the flow, I can hedge at will. Russia: needs to be broken, again (Reagan did this in the 80s by getting into weapons spending war) Hurt US but killed USSR. Iran: must find its place at the table.. SA's table. Regional Conflicts must be starved-out... or turned into glass!! Unless I see new clouds of war, or death of a King, I will remain short. OPEC crude production climbed in January to the highest level in Bloomberg data going back 20 years.... www.houmatoday.com Saudi has no love or trust with Russia. gulfnews.com
FX:USOILShort
by BigEz
1