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Wticrudeoil

Technical analysis update: WTI oil (19th October 2021)USOIL keeps climbing higher. However, we are growing little bit worried that price is too high at the moment. In our opinion it would be healthy for price to correct before further rise. We think that correction could take price as low as 76 USD. In medium-term and long-term we remain bullish , however, in short-term we voice our concerns. We would not be surprised to see quick drop with subsequent retracement and resumption of uptrend. Several indicators are flashing warning signals and because of that we would like to change our short-term stance to neutral. Technical analysis RSI is overbought. We will observe it closely and we will look for crossover below 70 points which we expect to be accompanied by selling pressure. Despite that Stochastic and MACD continue to be bullish . DM + and DM- are also bullish . ADX continues to grow which means that trend is strenghtening. Support and resistance Short-term support/resistance sits at 82.15 USD. Support 1 lies at 79.76 USD and Support 2 sits at 76.65 USD. Major resistance sits at 85 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOIL
by Tradersweekly
15
OIL Intraday. Aiming 1:10 RRRisk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!! All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity. Also, please view price action on 1 min chart if you're following my entries. It will make sense. Trading view doesn't allow to post entries on charts smaller than 15 minutes. Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
TVC:USOILLong
by azk001
1
WTI OIL , channel breakout , time for retest and then pump!hey yall , if you look at WTI Oil's past rn , you'll see we kinda have the same pattern rn . in both of them we have descending channels . in the last pattern , WTI did a retest after breaking above the channel . so I'm guessing after going up a little bit , we will have a retest and then pump is gonna happen . it'll be a huge pump . imo the price will even get to 1000 $ . we'll see though , if we were alive... so the next update will be 3 years later perhaps , this retest will probably take 3 years to happen cause we are on monthly chart . Imma update it if I was alive :D if you liked the idea , give it a like . and if you wanna see more of these , follow , heck of analysis are on the way ! also tell me your opinions on this idea in the comments . GoOOoOd LuUuUUuck
FX:USOILLong
by ArminChiani
WTICOUSDThe West Texas Intermediate Crude Oil market fluctuated on Tuesday as it sits just above the $80 level. When you get a strong move to the upside like we have had, the market will either go sideways to digest its gains or pull back. At this point, it looks like we are going to settle on grinding sideways and digesting the previous move. If we were to turn around and break down from here, there are multiple areas where I would anticipate seeing support, especially at the $75 level. That being said, the market also sees the $77.50 level as a potential buying opportunity as well. Crude oil continues to be very tight as far as supply is concerned, so I have no interest in trying to get too cute and short this market. The market is very likely to go much higher over the longer term, so I think it is simply a matter of waiting for an opportunity to get long of crude oil yet again. In fact, it is likely that we would see plenty of opportunities going forward, and most people believe that crude oil is going to go looking towards the $85 level. The candlestick for the day is very indecisive, and I think that is likely to be how we behave between now and the end of the week. If we broke above the top of the shooting star for Monday, then I think it would open up a move towards the $85 level rather quickly. The market will almost certainly see an increase in momentum at that point, so I believe that it is probably going to be a signal to get somewhat aggressive to the upside. Again, I do not see any situation in which I would be a seller, because the market is tight from a supply standpoint and should continue to be so for the foreseeable future. In fact, when you look at the futures curve, it is not until late next year when you start to see prices drop back down towards the $60. I think this is going to continue to be an issue going forward, so we need to pay close attention to some type of “blow off top”, but we are nowhere near seeing that right now.
OANDA:WTICOUSD
by SmoothJB
Technical analysis update: WTI oil (7th October 2021)In our last idea we pointed out that RSI reached overbought condition and that such occurence is often followed by correction. We also noted that correction would drag price towards 75 USD per barrel. In addition to that we said that we would remain bullish even if correction took place. We continue to maintain that bullish stance. We actually think that current price is very attractive for investors as we expect eventual resumption of uptrend followed by retest of resistance at 79.76 USD. Our short-term price target remains 80 USD, medium-term price target 82 USD and long-term price target 90 USD. Fundamental analysis Recently OPEC decided not to boost prodcution further which is very positive fundamental development for oil worldwide. Several media news outlets reported that it is very likely that OPEC could not increase its production even if it wanted to because it lacks capacity to do so. Demand continues to pick up and we expect this trend to prevail over following 12 months. United Kingdoms continue to report shortages of fuel at its gas stations. Natural gas continues to grind higher altogether with oil while there is increasing talk of strong winter for 2021. Technical analysis RSI reversed from overbought condition and it currently points in bearish direction. We will observe whether it starts to flatten which would suggest that correction ceased. MACD continues to be bullish at the moment, however, it is losing momentum. Stochastic remains bullish. DM+ and DM- suggest that bullish trend is still present. ADX reversed but it continues to have bullish structure. We will observe it closely and we will look whether it manages to resume growth. Support and resistance Closest area of interest is 75 USD while short-term support appears below that at 74.21 USD. We will observe whether these two levels will manage to stop further selling pressure. Another two areas of interest are at 71.46 USD and 65.11 USD. Below that is major support level at 61.76 USD. Short-term resistance sits at 76.95 USD while another resistance above that lies at recent high of 79.76 USD Recent track record Here we did set short-term price target to 77.50 USD which was reached on 4th October 2021. Here we did set short-term price target to 75 USD which was reached on 27th September 2021. Here we did set short-term price target to 72.50 USD which was reached on 15th September 2021. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
8
Technical analysis update: WTI oil (4th October 2021)Today USOIL reached our short-term price target of 77.50 USD. Because of that we would like to update our thoughts on WTI oil. We continue to be bullish and we expect price to continue its rise. We would like to change medium-term price target of 80 USD to short-term price target. We would also like to set new medium-term price target to 82 USD. Our long-term price target remains 90 USD per barrel. Technical analysis MACD, Stochastic and RSI are all bullish. However, RSI penetrated 70 points to the upside and reached overbought condition. This development is normally followed with correction. Because of that we would not be surprised to see little correction in price towards 75 USD. ADX contains low value but continues to grow which suggests that trend is building up momentum. Overall we are bullish in long run on USOIL and we expect much higher price from here. Support and resistance Short-term support sits at 76.95 USD currently while closest resistance appears at 80 USD. Track record over past month Our previous thought from 27th September 2021. Here we did set short-term price target to 77.50 USD which was reached today. Our previous thought from 15th September 2021. Here we did set short-term price target to 75 USD which was reached on 27th September 2021. Our previous thought from 3rd September 2021. Here we did set short-term price target to 72.50 USD which was reached on 15th September 2021. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
6
USOIL rises to highest since 2014, What's next !Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ Oil prices rose for a fifth day on Wednesday to their highest since 2014 amid global concerns about energy supply on signs of tightness in crude, natural gas, and coal markets. WTI earlier rose to $79.47 a barrel this started from $73.62 5 days ago, almost an 8% increase in value. Possible Scenarios for the market : Scenario 1 : The market is trading at 78.91 at the time of this post, Bears has been quiet for the last 5 days which leads us to believe that any time soon they will be ready to step in and drop the price, most likely they will have 2 goals for the next period of time. The first one will be the support line at 77.95 and the main goal for the week will be the 73.86 support zone. Scenario 2 : The bulls are trying to keep this upper momentum as much as they can but today's candle is red at the time of the post, Which shows the ongoing battle between the Bulls and Bears. The Bulls will try to push the price above the first resistance located at the $80.00 level so they can set up a support base and from there they will try to push the market more in hope of reaching the $82.00 by the end of the week Technical indicators show : 1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish sign) 2) The MACD is above the 0 line indicating that the market is in a Bullish state, With a positive crossover between the MACD line and the Signal line. 3) The ADX is at 22.20 showing that the market is trending with a positive crossover between the DI+ and DI- Daily Support & Resistance points : support Resistance 1) 77.95 1) 79.95 2) 76.78 2) 80.78 3) 75.95 3) 81.95 Fundamental point of view : OPEC+ agreed to adhere to its July pact to boost output by 400,000 barrels per day (bpd) each month until at least April 2022, phasing out 5.8 million bpd of existing production cuts. Late last month, the OPEC+ Joint Technical Committee (JTC) said it expected a 1.1 million bpd supply deficit this year, which could turn into a 1.4 million bpd surplus next year. Oil prices have surged more than 50% this year, adding to inflationary pressures that crude-consuming nations such as the United States and India are concerned will derail recovery from the COVID-19 pandemic. Despite pressure to ramp up output, OPEC+ was concerned that a fourth global wave of COVID-19 infections could hit the demand recovery, a source told Reuters a little before Monday's talks. However, inventory data from the United States, the world's biggest oil consumer, showed some signs of slowing fuel demand. The American Petroleum Institute reported U.S. oil inventories rose by 951,000 barrels in the week to Oct 1. According to Reuters This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !!
TVC:USOIL
by GabiDahduh
3
WTI OIL turning Parabolic Towards $82.50.Since WTI Oil broke the former two Resistance levels (74.15 and 77.00), the price turned parabolic outside the Channel Up that dominated most of the price action in September. There seems to be a Buy/ Support Zone consisting of the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line) and a Resistance Zone on the RSI Higher Highs trend-line. Technically those two pressure levels should provide the next dip buy and target. I've applied the Fibonacci Channel to assist in finding the target and as you see every Fib extension prices a Higher High (1.0, 1.5, 2.0). Naturally the 2.5 Fib extension is next, I project a Higher High around $82.50. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> Vergnes --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
5
POSSIBLE USOIL 1HR DISTRIBUTION!Hello my beauties. I think UsOil is showing signs of distribution on a 1hr timeframe. This would align with the bias that a completion of the bearish broadening wedge is to happen soon. I will sell on successful retest of the red trading range. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
TVC:USOILShort
by TrickleDownFX
Education excerpt: OPECThe Organization of the Petroleum Exporting Countries (OPEC) The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization with main goal to coordinate and unify the petroleum policies of its member countries. This pertains mainly to securing fair and stable pricing in the oil market; efficient and regular supply of petroleum to consuming nations and fair return on capital to the producing countries. The OPEC was established in Baghdad, Iraq in 1960 by five countries. Founding countries were: Iraq, Islamic Republic of Iran, Kuwait, Saudi Arabia and Venezuela. One year later the organization was joined by Qatar in 1961. After that Indonesia and Libya followed in 1962. United Arab Emirates joined the cartel in 1967 and Algeria in 1969. Then Nigeria became member of the OPEC in 1971, Ecuador in 1973 and Gabon in 1975. Few decades later, Angola joined the OPEC in 2007, Equatorial Guinea in 2017 and Congo in 2018. Ecuador suspended its membership in 1962. However, it rejoined the cartel in 2007. But then again in 2009 Ecuador withdrew its membership from OPEC. Similarly, Indonesia suspended its membership in 2009 and rejoined the cartel in 2016 only to leave it again in 2016. Gabon also suspended its membership in 1995. Although, Gabon reactivated its membership in 2016. Qatar was the last country to terminate its membership in 2019. Current members: 1. Iraq 2. Iran 3. Kuwait 4. Saudi Arabia 5. Venezuela 6. Libya 7. United Arab Emirates 8. Algeria 9. Nigeria 10. Gabon 11. Angola 12. Equatorial Guinea 13. Congo The OPEC's executive organ is called the Secretariat and it is run by the Secretary General. Secretariat was originally established in 1961. It also functions as headquarters for the organization. In the beginning, OPEC had its headquarters in Geneva, Switzerland for five years. However, OPEC's headquarters were moved to Vienna, Austria in 1965. Executive organ is responsible for implementation of all resolutions passed by the Conference. Secretariat also conducts research and fullfills all decisions made by the Board of Governeros. The Secretary General is the representative of the OPEC who simultaneously acts as Executive of the Secretariat. The Secretary General is electable role and its term last three years. Although, there is possibility to renew this term once. The Secretary General is assisted by the Office of the Secretary general and several other officers and staff members of the OPEC. The Office of the Secretary general helps the executive chief of the Secretariat to maintain efficient relations with relevant international organizations and governments. Another important organ of the organization is the Legal Office which supervises legal matters of the Secretariat and provides legal advice to the Secretary General. In addition to that, there is also the Research Division that consists of three departments: Data Services, Energy Studies and Petroleum Studies. The Research Division is responsible for conducting research with regards to the energy and related matters. Infrastructure and services are provided by the Support Services Division. OPEC Fund The OPEC Fund for International Development is international finance development institution that was established in 1976. It consists of 12 members: Algeria, Ecuador, Gabon, Indonesia, IR Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela. Its purpose is to provide financial help to the developing countries and support advancement in these low-income and middle-income countries. Disclaimer: This content serves solely educational purpose.
TVC:USOILEducation
by Tradersweekly
6
WTI OIL Buy levels the MA50/200. Potential $90 move if 77 breaksOn my most recent WTI Oil idea two weeks ago, I highlighted the importance of the Inverse Head and Shoulders (IH&S) pattern that emerged on the 1D time-frame and why the 1D MA50 (blue trend-line) was the 1st buy candidate of the current bullish leg: As you see the 1D MA50 worked perfectly as a buy entry and the upper Resistance targets have been hit. However since the price was rejected just below the 77.00 Resistance, it is possible to see another 1D MA50 test, which again will be our first buy entry. Second and final will be the 1D MA200 (orange trend-line) if the Pivot Zone fails to support. If however we close a 1D candle above the 77.00 Resistance then it will be a bullish break-out of the Inverse Head and Shoulders, in a similar way as the previous IH&S that broke upwards on May 28 2021. The break-out extended as high as the 2.0 Fibonacci extension. If the same sequence is followed, then the 2.0 is currently at 92.24. In that case our long-term target will be $90. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> Vergnes --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
1
USOIL told you exactly how the market is going to moveHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ On September 13 I posted an idea explaining how the USOIL was close to a breakout and that you should keep your eyes on the market for the next few days, and posted 2 Scenarios of how the market is most likely to move. Looking at the market today we can see that the first Scenario has happened exactly as I predicted. Over the past few weeks, oil prices have continued to proceed along an upward trajectory as commodity shortages remain a key concern for global economies. noticed that the market has brokeout the main resistance zone located between 70.40 - 70.63 and started to gain momentum that drove the price up hitting the 76.43 level yesterday, That is almost a 9% increase in 2 weeks alone Possible Scenarios for the market : Scenario 1 : The market seems to be nearing the first support line located at 73.76, if the price was able to drop below and close then we could be seeing a small Bearish movement that could lead the market down to the second support at 72.89 or even below back to the main support zone at 70.40 - 70.63, where a bounce back in price will probably happen leading the price back up again to its current level. Scenario 2 : The Bulls are trying to gain control over the market today in hope of staying away from the support level and going back up near the first resistance level at 76.18 where a battle over control will happen and the winner will determine the outcome movement of the market, If the Bears were to win then we might see a drop to the first support at 73.76 where a bounce most likely will happen. If the Bulls were to win then we will see an increase in price that could lead the market to the 77.73 or even the 80.74 level in the next period of time. Technical indicators show : 1) The market is above the 10 20 50 100 and 200 MA and EMA (Strong Bullish sign) 2) The RSI is at 61.31 showing Great strength in the market, With no divergence found between the market and the indicator 3) The MACD is above the 0 line indicating that the market is in a Bullish state, With a positive crossover between the MACD line and the Signal line Daily Support and Resistance : support Resistance 1) 73.76 1) 76.18 2) 72.89 2) 77.73 3) 71.34 3) 78.60 Weekly Support and Resistance : support Resistance 1) 71.06 1) 75.90 2) 67.93 2) 77.61 3) 66.22 3) 80.74 Fundamental point of view : The price of Brent crude oil continues to soar, touching highs last seen three years ago as demand outstrips supply. The continued rollback of covid-19 restrictions in economies around the globe is driving demand ever higher with supply struggling to keep up. OPEC+ will meet next – October 4 – and they may need to increase production further to help alleviate the market shortage. Brent crude touched $80/bbl. earlier and may now set its sights on the October 2018 high at $86.65/bbl. if the OPEC+ leaves production at its levels. The Organization of the Petroleum Exporting Countries will also release its World Oil Outlook next week and this now takes on increased significance as prices rally hard. According to Dailyfx This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
TVC:USOILLong
by GabiDahduh
4
Technical analysis update: USOIL (22nd September 2021)In recent days USOIL has been holding up relatively well in comparison to the general market. It currently trades around 71.30 USD. We forecast that positive developments in the airlines and the travel industry will drive demand higher over the next 6 months. Our short term price target remains 75 USD per barrel while our medium term price target is 77.50 USD. Our long term price target is 80 USD per barrel. Technical analysis RSI is bullish. MACD is also bullish. Stochastic oscillates in the bullish zone, however, it strives for reversal. ADX contains low value which suggests that trend is neutral. Despite that we remain bullish on USOIL and we expect resumption of bullish trend in close future. RSI daily timeframe: MACD daily timeframe: Stochastic daily timeframe: Support and resistance Short term support sits around 70.50 USD. Another strong support appears around 65 USD while major support sits around 61.58 USD. Short term resistance sits at 73.11 USD. Medium term resistance sits at 74.21 USD and major resistance at 76.95 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
4
Wait for the signal to buy Oil when retest appearsH1 time frame. Structure: Uptrend. The price rallied after breaking the double bottom reversal pattern on the 30 minute time frame and breaking the Key level of the correction at 71.50. Waiting for the price to return to this area with a retest signal confirming the uptrend is back, you can find buying opportunities. Profit target is zone 74.000. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
TVC:USOILLong
by tradafx
1
WTI Crude oil, the price reacted exactly in the expected area!Hello my beauties, In my previous analysis I said I expected a move to the downside in the area in red (link below this text, check it out). The price of oil is now completing a bearish megaphone (ascending broadening wedge) pattern. Check out my analysis for more trading ideas! If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
TVC:USOILShort
by TrickleDownFX