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Wticrudeoil

WTI Crude Oil Sell TP = 42.67On the weekly chart, the trend started on March 13, 2022 (linear regression channel). There is a high probability of profit, since the channel is not yet closed. A possible take profit level is 42.67 ( this is the minimum take profit value, but it has a high percentage of payoff ). But don't forget about SL = 98 . Using a trailing stop is also a good idea! Please leave your feedback, your opinion. I am very interested in it. Thank you! Good luck! Regards, WeBelieveInTrading
BLACKBULL:WTIShort
by WeBelieveInTrading
WTI OIL decline continuation and potential bounce around 69.40.WTI Oil (USOIL) almost hit our 75.00 target with Monday's gap up, as we discussed on our analysis last week (see chart below): The rejection was made slightly above the 1D MA50 (blue trend-line) and the Higher Highs trend-line. We now expect this pull-back to test the 69.40 Symmetrical Support and rebound. Our new target will be 74.00, at the bottom of the Triangle rejection Zone and below both the 1D MA50 and possibly at the time the 1D MA100 (green trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
2
No More Crude Deals!Since its invasion of Ukraine, Russia has been pouring a little too much oil over troubled waters especially as far as the Saudis are concerned. With Moscow pumping cheap crude into the market, downward pressure on the commodity has seen it break and close below a key break-even level for Saudi Arabia. Saudi crown prince Mohammed Bin Salman has scheduled a list of 15 upcoming giga-projects that are intended to transform the kingdom’s economy over the next 10 years. Investment is going to run into the billions and the budget requires oil prices to be above $81 per barrel. An $81 hard floor is essential as attracting significant foreign investment for these giga-projects is proving very difficult. Earlier in the year, Saudi Arabia’s attempts to push oil prices higher by cutting back on production were rendered meaningless by Russia flooding the market with cheap oil despite an earlier promise to also hold back on increased production. This is part of a historical and, it seems, ongoing oil production related geopolitical conflict between Russia and Saudi Arabia (the Russia-Saudi oil price war). Oil prices have been in a sustained downtrend since the March 2022 peak with crown prince Salman getting a major scare in May this year when WTI and Brent crude hit a low of $63 and $71 respectively. A break and close below those levels would have created a cascade of investors exiting the market. Price however rebounded from those lows to consolidate within a tight range. OPEC+ met over the weekend with Saudi Arabia announcing that it will cut production by 1 million barrels a day in order to help prop up price. However, any idea of a done deal that will provide a clear direction for the near and medium-term price of crude should be treated with a healthy dose of scepticism. The Saudis did force some of the less influential members of OPEC+, such as Nigeria and Angola, to reduce quotas from next year but Russia following suit remains “under review” pending further analysis of current output. That’s code to describe how the Saudis and Russians are still fighting with each other to get what each side needs. The post-COVID pandemic world is a much trickier place for oil men and women to cut deals than before. The process of negotiating deals before the pandemic was positively crude compared to the headache-inducing complexity caused by the asymmetrical and mercurial nature of deals in the new geopolitical landscape. The invasion of Ukraine has weakened a Russian economy that desperately needs to find extra revenue to sustain the war effort whilst the Saudis are trying to diversify their economy away from oil by embarking on a series of hugely ambitious and expensive giga-projects. Those two aims are diametrically opposed as far as the output of crude is concerned. The Saudis on the one hand are trying to convince the Russians to stick to their agreement to cut production whilst at the same time planning to further reduce the price of their Arab light grade for customers in Asia. Saudi Arabia has cut the price of oil it sells to its Asian buyers several times already this year in a bid to try and secure its market share in the Asia region that has now become the largest importer of Russian crude. The Saudis are also in talks with the “BRICS bank” for membership and will need the Russians on side at that table, adding to the frustration of how aggressive they can be in convincing the Russians to cut crude production. We remain long-term bullish on crude with buys from strategic dips being the best play but please be mindful of any potential near-term breaks to the downside. We will be posting levels for intra-day traders in the future. Remember, that when you go to the market, be careful out there.
TVC:USOIL
by BluetonaFX
4
USOIL is getting cheapWe recently noted that an interesting opportunity to go long oil could be on the horizon soon. Accordingly, we waited patiently for the price to fall below $70 per barrel. Now, with the price trading near $68.80, we are starting to consider the price attractive to go long. However, we think it is proper not to use all the firepower yet as technicals still point to more downside. Therefore, our plan is to start accumulating in very small batches and unload the stash with the price retracing back above $70. With that said, we would like to set a price target for USOIL at $71. 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. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILLong
by Tradersweekly
22
WTI CRUDE OIL: Formed a Megaphone. Buy signal.WTI Crude Oil formed a Megaphone pattern and is now near its bottom with the 4H time frame on oversold technicals (RSI = 27.320, MACD = -1.180, ADX = 31.676). This is a short term buy signal, targeting the top of the Megaphone, 1D MA100 and 0.618 Fibonacci Resistance Zone (TP = 75.00). A breaks under the Megaphone and S1 targets S2 (TP = 63.65). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
13
WTI OIL Sell now and buy back on this levelWTI Crude Oil had a heavy rejection on the MA50 (1d) that broke today Support (1). The selling can extend beyong Support (2) before we get a new buy signal on the (1d) time frame. The long term pattern remains a Channel Down and every MA50/100/200 (1d) test is a sell opportunity. Trading Plan: 1. Sell on the current market price. 2. Buy at 66.00. Targets: 1. 66.00 (Fibonacci 0.1 as it happened on January 5th, a similar fractal). 2. 75.00 (the MA100 (1d)). Tips: 1. The RSI (1d) is under its MA level, which is exactly what happened on January 5th on the short term Low. If the RSI crosses back above its MA, it will be a confirmed buy signal. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOILShort
by TradingBrokersView
1
WTI CRUDE OIL: Strong short term buy.WTI Crude Oil hit the bottom of its short term Channel Up, breaking under the 4H MA50 and MA100 after forming a Bullish Cross. With the 4H technicals turning red (RSI = 42.535, MACD = 0.300, ADX = 23.704) we have the conditions for a short term buy opportunity. Our target is the 1D MA100 which is sitting on the 0.618 Fibonacci level (TP = 75.50). The last 4H MA50/100 Bullish Cross resulted in the market peak on the 1D MA200. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
10
WTI OIL Hit the MA50 (1d). Selling action plan.WTI Crude Oil hit the MA50 (1d) today after 3 weeks. Inside this multi month Channel Down, the strongest Resistance-Sell entry level has been the MA100 (1d). Max level it reached before getting rejected as the MA200 (1d) on April 12th. Trading Plan: 1. Sell on the MA100 (1d) at 75.80. 2. Sell on the MA200 (1d) at 79.00. Targets: 1. and 2. 70.00 (over Support 1). Tips: 1. The RSI (1d) is showing a price action on a slow rise over its MA, similar to December 15th and January 11th. This is an additional indicator showing that the top is near. Please like, follow and comment!! Notes: Past trading plan:
TVC:USOILShort
by TradingBrokersView
25
BRENT CRUDE OIL FUNDAMENTAL ANALYSISCrude oil: gaining on lower inventories While the broader macro conditions remained complex as hawkish Fed speak and debt ceiling deadlock weighed, crude oil prices managed to inch higher and start the week on a positive note after heavy selling both in paper and physical market over the last few weeks. Supply side news remain mixed with Russian exports remaining firm while OPEC’s early April production cut is only now starting to be felt. Extreme heat across Asia has ramped up demand for fuel oil to run air conditioning and lights while oil traders will be on alert for comments scheduled later today from Saudi Arabian Energy Minister Prince Abdulaziz bin Salman at the Qatar Economic Forum, especially following the recent jump in short selling by funds to levels seen before the April 2 production cut.
OANDA:BCOUSDLong
by thunderpips
WTI OIL Triangle closing decides the trend.WTI Oil (USOIL) has easily hit our short-term target (see chart below) and is now consolidating: This consolidation is being done within a Triangle pattern, which as we saw on Friday it remained valid despite the fact that the price broke marginally above it, as the 4H candle closed eventually back inside it. This suggests that the (currently neutral trend) will change only when we have a 4H candle closing outside of the Triangle. If that is above it, then we will buy and target within the 76.50 Resistance and the 4H MA200 at 75.50. If it closes to the downside, we will sell towards the Support and target 68.00. The fact that the 1D RSI is above its MA line, indicates that the bullish case is slightly favored. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
4
BRENT CRUDE OIL FUNDAMENTAL ANALYSISOil prices have remained under pressure over the past month, with Brent crude falling 13.6% amid recession fears in the US and weaker-than-expected economic data out of China. Still-elevated Russian exports and the sizable inventory build at the start of this year due to a milder winter in the Northern Hemisphere have also played a role. We now see the Brent price reaching USD 95 a barrel by the end of this year, down from our previous forecast of USD 105/bbl, as we expect Russian oil output to stay at around 9.6 million barrels per day (mbpd) instead of 9mbpd in the second half of this year. However, this means an upside of over 25% from current levels. We still see several main reasons to expect the oil market to be under supplied in coming months: The International Energy Agency sees robust global oil demand. In its latest monthly oil market report published this week, the Paris-based agency raised its forecast for global 2023 oil demand by 100,000bpd to 102mbpd. It also anticipated tighter market balances in the second half of the year, “when demand is expected to eclipse supply by almost 2mbpd.” While our own forecast puts current global demand at around 101mbpd, we see higher demand in June, boosted by the driving season in the US and more oil being used to generate power to cool down buildings in the Middle East. In fact, we expect the oil market to be undersupplied by nearly 1.5mbpd next month. Inventory draws are set to be more visible in the months ahead. The US Department of Energy said earlier this week that it plans to purchase 3 million barrels of crude oil for the Strategic Petroleum Reserve for delivery in August, after a record sale last year that pushed the level of the reserve to the lowest since 1983. It remains to be seen whether the tender will be concluded, but we expect to see larger inventory draws as the Northern Hemisphere enters summer while the impact of strategic oil reserve release fades. OPEC+ cuts should tighten the market further amid other supply constraints. The voluntary output cut by nine OPEC+ members this month should continue to tighten the market, while wildfires in Canada’s primary oil-producing province Alberta has forced shutdowns of oil and gas production. Iraq’s total oil exports this month are also likely to be limited amid continued suspension of production in the north. We anticipate oil production will fall back toward 100mbpd in May from around 101mbpd in 1Q23. A tighter market should convince financial investors to return to the oil market, thus supporting prices. So, we maintain our most-preferred rating on oil alongside our positive stance on broad commodities. We continue to advise risk-taking investors to add long exposure via first-generation indexes or longer-dated Brent contracts, or to sell Brent’s downside price risk. We also see value in emerging market energy bonds for an attractive yield pickup versus developed market government and investment grade debt.
OANDA:BCOUSDLong
by thunderpips
WTI CRUDE OIL Confirmed buy opportunityWTI Crude Oil is rebounding on the Rising Support, internally inside the Channel Down pattern. The 1day RSI remains under 50.00, so there is still time to buy this bullish wave to the top of the Channel Down. Target the 1day MA100 at 76.00. Open 1st Sell there and 2nd (if required) on the 1day MA200 (which formed the previous top) at 79.50. Target on both Support A at 64.50. Additional indicator to sell, when the 1day RSI hits 60.00. Previous chart: Follow us, like the idea and leave a comment below!!
TVC:USOILLong
by TheCryptagon
21
WTI CRUDE OIL: Triangle breakout revealing the trend.WTI Crude Oil is failing on the 4H MA50 and maintains a dangerous Triangle on the 4H timeframe on neutral technicals (RSI = 44.789, MACD = -0.040, ADX = 23.667) which can breakout either way. So far it is supported by an HL trendline like the March pattern but if this breaks, which would mean downward breakout for the Triangle, we will sell, after the 4H MA50 gets rejected as a Resistance, and target the S1 (TP = 64.00). If the Triangle breaks upwards, we will buy and target the 4H MA200 (TP = 76.00). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOIL
by InvestingScope
6
WTI breaks out ahead of US inflation dataWe suspect volatility may be on the quiet side with a US inflation report looming, but this provides the opportunity for markets to consolidate and traders plan trades. Should we see the pace of inflation to continue slowing, it could strengthen oil prices for two basic reasons. 1 - A weaker US dollar, as traders bring forward rate cut bets / solidifies bets of 5.25% peak rate 2 - Reduces the odds of a recession and increases oil demand expectations The softer inflation is, the stronger the bullish reaction for oil could be expected. - WTI futures closed above trend resistance following a bull-flag breakout, which was accompanied by positive-delta volume during the rally to recent highs. - Prices are now consolidating, but we'd welcome a pullback towards $73 to buy dips in anticipation of a breakout above $74. - Initial target is $76 (near the upper daily ADR band) - A move to (and beyond) $77 could be on the cards if we're treated to a weaker-than-expected inflation report - The bias remains bullish above $72.50
NYMEX:CL1!Long
by CityIndex