WTI CAN GO UP OR NOT?Now wti complete correction and can go up. BUT we expect for doublr zigzag correction. Waiting for new signal
WTI
WTI Crude oil - last update. Our overview: The selloff of the yesterday's session, redraw the intermediate(green) trend's structure with a deep wave 2. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 1.
Our current strategy: The breakout of $72.50 in the yesterday's session trigger the hedging point in our system, then we took profit and resetting our position's delta to moderately long
close to the yesterday's session low at $70.55. Our current position's risk profile @$70.70:
Delta +0.35, gamma +0.22
Hedging point: on breakout $70.50
Moderately Long looking to follow the trend's wave with first target @$72.50.
WTI H4 | Potential bearish breakoutWTI oil (USOIL) is falling towards a pullback support and could potentially break under this level to drop lower.
Sell entry is at 70.114 which is a potential breakout level.
Stop loss is at 71.30 which is a level that sits above an overlap resistance.
Take profit is at 68.279 which is a swing-low support that aligns close to the 61.8% Fibonacci projection level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Natural GAs makes epic reversal, Oil Pummeled. Nat Gas made an epic reversal today after being down over 6%.
Oil got pummeled today despite a weak dollar.
Is the energy market breaking down?
WTI Crude oilOur overview: Weak demand balance Middle East tensions bringing to the market a substantial weakness. Resistance @$74.00 showed in the first days of the year to be strong enough to reject the price two times. Our overview in the short period is long with target in area $79/$80. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 3, intraday(orange): upward impulsive structure wave 1.
Our current strategy: Moderately Long looking to follow the trend's wave with first target @$75.00. Our current position's risk profile @$72.80: delta +0.25, gamma +0.21 Hedging point: on breakout $72.50
RSI "D": Neutral
Stochastic "D": Positive
RSI "H": Neutral
Stochastic "H": Negative
RSI "5min": Positive
Stochastic "5min": Positive
WTI H4 | Potential bearish breakoutWTI oil (USOUSD) is falling towards a pullback support and could potentially break under this level to fall towards our take-profit target.
Entry: 72.085
Why we like it:
There is a potential breakout level
Stop Loss: 74.114
Why we like it:
There is a pullback resistance level
Take Profit: 69.666
Why we like it:
There is a swing-low support that aligns close to the 61.8% Fibonacci projection level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
BRIEFING Week #1 : Happy New Year !Here's your weekly update ! Brought to you each weekend with years of track-record history..
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USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
WTI Crude Oil: An Emerging Trading RangeThis morning’s jobs report came in stronger than expected, and oil prices rallied. The 216k December NFP gain topped the +175k estimate, though revisions to the two previous months were sharply negative – a trend we saw throughout 2023. Average hourly earnings verified hotter than what economists were forecasting. At +4.1% on a year-on-year basis, workers are now earning about a full percentage point above the current inflation rate. Compared to the 6-month annualized Core PCE rate, you could argue that real wages are positive by 2.2% versus December 2022.
Amid a strong labor market and ahead of next week’s CPI report, commodity prices are treading water. WTI hovers in the low $70s, and I assert that a new trading range has developed between $68 and $79. Trend-following traders may be frustrated by this sideways price action, but more stable energy costs could be a boon to the corporate world, right as the Q4 reporting season gets underway a week from today.
For now, this $11 WTI range will be one to watch as 2024 progresses. A breakout through it would portend an upside measured move price target to about $90, based on the $11 range height. A bearish breakdown could lead to a dip into the FWB:50S per barrel of WTI. With very high domestic oil and gas production and wavering global demand for oil amid a possible slowdown in GDP growth over the first half of the year, there are certainly some bearish supply/demand factors at play. Still, ongoing tensions in the Middle East have led to a surge in shipping container day rates, and further geopolitical escalations is a bullish catalyst to watch over the coming weeks.
For now, I see more trendless action taking place in crude oil.
BP: Holding Support Above The Previous All-Time-HighsBP appears to be Double Bottoming above the previous All-Time-High-Resistance and is Bullishly Diverging on the RSI and MACD. If this level hold, BP has room to go all the way up to around $50 which would also align with the 1.618 Fibonacci Extension. I personally think that out of all the big Oil Companies like XOM and CVX, BP presents the better value and would be the most profitable to play via midterm calls.
USOIL reacting only slightly to the tensions in the Red SeaIn mid-December 2023, we witnessed major shipping companies announce a halt to transit through the Red Sea. Then, with the launch of Operation Prosperity Guardian, we saw the same companies start reversing their decisions, only to again pause shipping quickly after the resumption (thanks to more attacks from Houthi rebels targeting Maersk ships). As such, the past three weeks in the oil market were marked by turmoil, affecting about 8.2 million barrels per day in transport through the region (and an estimated 12% of the world’s trade). With these tensions increasing, USOIL is reacting positively, and we acknowledge that USOIL may continue to oscillate between $68 and $75 in the short term (before diving lower). However, our price target of $65 per barrel stays in place.
Technical analysis
Daily time frame = Neutral
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.
Crude oil - $200 per barrelWe've all seen how oil reacted to the beginning of the Israeli-Palestinian conflict. I am sure that this conflict will not settle down quickly and will only increase. The conflict will involve other players in the region - Emen is proof of this fact.
How will oil react to this?
The suspension of supplies and other problems with oil supplies will provoke demand for oil and the price will go higher and in the next few years will renew historical highs up to $200 per barrel. I think this was calculated by the coalition of aggressor countries before the war started.
about TA
We see a strong horizontal level where there is a lot of liquidity (concentration of stop losses) which will be collected up to the level of the largest horizontal volumes from below. And only after that, we will see a global reversal, which is probably the end of the year - December
On the chart, I have shown levels from which I will try to take longs.
I hope there will be PEACE in the world.
Our world looks very humongous in terms of cosmic civilization sending tons of bombs to kill each other.
Best regards EXCAVO
USOIL Crude Oil WTI Price Prediction for Winter The potential for an increase in oil prices looms as supply disruptions in Libya unfold. Additionally, heightened tensions in the Middle East, fueled by another attack on a container ship in the Red Sea and explosions in Iran, contribute to the uncertainty. Shipping giants temporarily halted Red Sea shipments last month due to attacks by Houthi rebels, who were influenced by the conflict between Hamas and Israel.
On a recent Wednesday, the Yemeni militant group, supported by Iran, claimed responsibility for targeting a container ship en route to Israel.
Concurrently, OPEC announced its members' commitment to unity and cohesion within the organization, emphasizing their dedication to shared objectives.
Adding to the complex landscape, last month saw Angola, a member of OPEC for 16 years, decide to exit the cartel due to disputes over quotas. In light of these developments, my forecast for oil prices is set at $80 by March 2024.
WTI CRUDE OIL: Targeting the 1D MA50.WTI Crude Oil is rebounding today aggressively after hitting and holding the 1W MA200, which as we've discussed on our channel, has been the long term Support since February 1st 2021. The rebound has turned the 1D technical outlook neutral (RSI = 47.857, MACD = -0.970, ADX = 22.204) but the 1D RSI is inside a Channel Up, which indicates that there might be a hidden bullish divergence for the long term.
Nevertheless, we cannot discuss any +25% to +30% moves as those in April and July 2023 unless the 1D MA50 breaks. Until then, we will focus on the short term and aim just under the 1D MA50 (TP = 74.50).
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USOIL - BEARISH MOVE 📉
As We Talked in The Previous Analysis:
The USOIL Reached a Resistance Level (74.03 - 74.75).
The Price Formed a Rising Wedge Pattern.
The Support Line is Broken.
Currently:
The Price Pull Back to Important Structure,
and Now It Will Continue Its Bearish Movement📉
TARGET: 69.50🎯
Hellena | Oil (4H): Short to support area of 67.34.Dear Colleagues, Towards the end of the year we see a large accumulation of option contracts at levels that are well below the current price. I believe that we should look out for short positions.
I expect that wave 2 has finished its movement near the 74.80 area and I expect an impulsive wave 3, which will come at least to the target in the support area of 67.34.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
WTI H4 | Potential bearish breakoutWTI oil (USOUSD) is falling towards a pullback support and could potentially break under this level to fall towards our take-profit target.
Entry: 70.128
Why we like it:
There is a potential breakout level
Stop Loss: 71.039
Why we like it:
There is a pullback resistance level
Take Profit: 67.958
Why we like it:
There is a swing-low support level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
WTI H4 | Potential bearish reversalWTI oil (USOIL) has just reversed off a pullback resistance and could potentially drop lower.
Sell entry is at 72.976 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 73.900 which is a level that sits above the 50.0% Fibonacci retracement level and an overlap resistance.
Take profit is at 71.071 which is a pullback support that aligns close to the 61.8% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
WTI OIL Bearish below the 1D MA50.WTI Oil (USOIL) got rejected two days ago near the 1D MA50 (blue trend-line), which has been the downward Resistance since October 24, despite the fact that the price marginally broke above the 3-month Channel Down.
As long as it stays below the 1D MA50, the trend is bearish and we will target the 68.00 Low. On the long-term though, this is a huge Buy Zone since March but the price only rallied sustainably when a 1D candle closed above the 1D MA50. The 1D RSI is technically repeating the December 2022 bottom pattern, but we will only engage in buying above the 1D MA50, in which case we will target 82.50, which is a level reached both on the March and July's rallies.
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Week #52 : Goodbye 2023 !Here's your weekly update ! Brought to you each weekend with years of track-record history..
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
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Phil
Best Moment for Oil AIM LOWER. hello everyone, dont forget to have a good money management.
its almost 99% oil will go to 70
85% to 68
70% to 65 ,
after breaking the 65 it will be super downfall to 57-59
happy new year and merry christmas
Happy Holiday
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
