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Crude Oil

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 :-)
FX:USOILShort
by ShahedZare
WTI CRUDE OIL Why it has most likely topped.WTI Crude Oil got rejected a little before it hit Resistance (1) at 93.80, which is a 11 month long level. The trading pattern since the mid April shows a good deal of correlation with October 20th 2021 - March 7th 2022. That was the peak of the Ukraine-Russia War. In order to get such an immense price spike, a heavy fundamental catalyst needs to blast out, something that we don't currently have on the horizon. As a result it is highly likely that Oil has topped and will turn bearish/sideways for the rest of the year. Trading Plan: 1. Sell every rise below Resistance (1). Targets: 1. The MA50 (1d) until eventually the MA200 (1d) gets hit around end of November - start of December. Tips: 1. The RSI (1d) also shows high symmetry between the fractals. It started on the 30.00 oversold mark and peaked outside the Rectangle around the overbought 80.00 mark. Please like, follow and comment!!
TVC:USOILShort
by TradingBrokersView
1
CL - Crude Oil Bold CallOh my..I think something big is on the way. Let's first look at what we see on the chart: It's a long-term chart, where each candlestick represents 3 months. Why did I take 3 months? Because I wanted to see the big picture. Look at the red frame. This is a daily chart, and with all the candles going up and down like a rollercoaster, it's messy and will keep you up all night. The yellow chart is the same, but here I have only taken the swings and hidden the bars. And that's real peace of mind. It's clean and shows you where the real pivots are. Let's go to the main chart. The pitchfork goes back to the low we had in the 80s. This is the anchor for the A point. Then the top for B and the negative for C. Do you see how the middle line catches the resistance and the support? What else? It's clean too. Going up in the time frame hides the noise. From now on, the last 3 candles also have support at the centre line. And if I apply Human-AI-Pattern-Recognition (...what a word ;-), then I see a potential huge run-up towards the U-MLH (Upper-Medianline-Parallel). Another fact that supports this thesis is that the USD has the potential to fall (see DXY analysis). And of course there will be other economic influences that will throw "oil" into the fire... kinda weird §8-) However, as we can never have the whole cake and eat it too quickly without the cook cutting off our fingers, we have to wait for the first break of the last swing high, which can be clearly seen in the yellow frame. Or we can start building a position now, taking on more risk but being rewarded with huge upside potential over the next few years. However, my position with this analysis will be very long term. How will I play it? I don't know yet, but I'm considering building a CL monster with Black Magic Options Voodoo §8-) Hope this helps and have a relaxing weekend.
NYMEX:CL1!Long
by Tr8dingN3rd
1
WTI CRUDE OIL Channel Up top and 11month Resistance rejection.WTI Crude Oil / USOIL has completed 2 red 1day candles for the first time since August 23rd. This is after the formation of a new Higher High on the three month Channel Up pattern. In the meantime that High was very close to the 93.80 Resistance A level, which was a Double Top on November 7th 2022. With the 1day MACD about to close a Sell Cross, we couldn't have a steadier sell combination than that. Sell and target 85.00 (bottom of Channel Up and expected contact with the 1day MA50). Follow us, like the idea and leave a comment below!!
TVC:USOILShort
by TheCryptagon
6
WTI Oil Prices Face Selling Pressure as Fed's Hawkish Stance...WTI Oil Prices Face Selling Pressure as Fed's Hawkish Stance Dominates Western Texas Intermediate (WTI) crude oil prices are grappling with selling pressure, hovering around the $88.80 mark. The Federal Reserve's recent meeting and its hawkish stance have cast a shadow over oil prices, complicating the outlook for the energy market. Here are the key factors influencing WTI oil prices: 1. Fed's Influence on Oil Prices: Following the Federal Reserve's recent meeting, WTI oil prices experienced a continuation of selling pressure. The Fed opted to keep interest rates unchanged and issued hawkish comments. Fed Chairman Jerome Powell reiterated the central bank's commitment to achieving a 2% inflation target and expressed readiness to raise rates if deemed necessary. The prospect of higher interest rates in the US has a direct impact on oil prices. Elevated interest rates can raise borrowing costs, potentially slowing economic growth and reducing oil demand. 2. Saudi Arabia's Stance on Oil Production: Saudi Crown Prince Mohammed bin Salman clarified that OPEC's decision to reduce oil production was primarily motivated by a desire for market stability and not aimed at supporting Russia's actions in Ukraine. In recent weeks, both Saudi Arabia and Russia, the world's top two oil exporters, announced voluntary production cuts. These measures have played a role in supporting WTI prices, with both countries committing to sustaining reduced oil output until the end of 2023. Saudi Arabia is set to limit its oil production to approximately 1.3 million barrels per day through the end of 2023. 3. Crude Oil Inventory Reports: Crude oil inventory reports have also influenced market sentiment. The American Petroleum Institute (API) reported a significant decline of nearly 5.25 million barrels in US crude oil inventories for the week ending September 15. This contrasted with the previous reading, which showed a rise of 1.174 million barrels. Market expectations had been leaning towards a 2.7 million-barrel decline. Additionally, the Energy Information Administration (EIA) reported a decrease of 2.135 million barrels in crude oil stockpiles during the same period, compared to a previous increase of 3.954 million barrels. The market had anticipated a drawdown of 2.2 million barrels. 4. Upcoming Economic Data Impact: Looking ahead, oil traders are closely monitoring several economic data releases that could significantly influence WTI prices. These include the US weekly Jobless Claims, the Philly Fed Manufacturing Index, and Existing Home Sales, all scheduled for release later on Thursday. Furthermore, the preliminary US S&P Global PMI for September is expected to be released on Friday. These events will be of particular interest to traders as they could impact the USD-denominated WTI price. In conclusion, WTI oil prices are currently navigating a complex landscape, with the Federal Reserve's hawkish stance and global oil production dynamics playing key roles. The energy market will closely follow economic data releases for insights into the future direction of oil prices, offering trading opportunities for investors.
NYMEX:CL1!Long
by FOREXN1
12
#WTI, #USOIL, #CRUDEOIL, #CL is in complex correction cycle----------OIL TO CORRECT TO THE DOWNSIDE-------- Trading is not like fairy tail Jack and the beanstalk. Price does not move like a straight line. At least most of the time it doesn't. Instead it moves wave by wave with shorter and longer corrections until it finally finds a point from where it cannot proceed any further and reversal happens. In case of US WTI oil we have been through a nice long run recently. Now I expect a correction where short term short trades can be applied although the major trend is up. So this counter-trend trade should be implemented by real care. I can be wrong of course. This is not a financial advise. Do your own research and analysis.
TVC:USOILShort
by Szuperpotyka
1
$USO Double Top Since August 23, AMEX:USO has been on a consistent upward trajectory, forming a Double Top pattern. Given this technical signal, it may be advisable to either sell call options or lock in some gains. In technical analysis within stock trading, a Double Top is a bearish reversal pattern that signifies a potential change in the trend from an uptick to a downtick. The pattern is characterized by the formation of two consecutive peaks that are roughly equal in price, separated by a trough. The pattern is confirmed when the price falls below a support level, typically represented by the lowest point of the trough between the two peaks. In a Double Top pattern, the first top is usually created with strong buying pressure that pushes the asset to a new high, but eventually, the buying momentum fades, leading to a moderate decline, forming the trough. The asset then rises again, driven by optimism, but fails to surpass the first peak, forming the second top. At this point, the inability to break the previous high is a sign of waning bullish momentum, suggesting that a reversal may be imminent. Traders often look for a decisive break below the support level as a confirmation to enter short positions, with the expectation that the asset will continue to decline.
AMEX:USO
by AlgoTradeAlert
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 :-)
FX:USOILShort
by ShahedZare
Brent above @$100 might not be a myth !Brent have two recent bottoms 1.June 2023 ($72) and 2. August 2023 ($82.5) and has rallied more than 33% since July. The rally still looks to be continuing without till 496, $98.5 and $100 very soon. Given the strong momentum buildup and supply cuts from OPEC+ has given the oil a due rally which the cartel was expecting since June 2023. Technically speaking levels of $126 are also on the charts as the commodity is breaking out of a Declining wedge pattern which was in formation from Jul 2022 to Jul 2023 a strong supply side pressure will be giving the commodity due advantage to rise above $100 to $125.65 as we can see.
TVC:UKOILLong
by chandakpulkit
Oil Reserves Plummet to 40-year LowThe Biden Administration is treading on dangerous ground as it continues to deplete the Strategic Petroleum Reserve (SPR) to levels not seen in decades, as geopolitical tensions flare and as global crude prices remain high. The chart above shows that the Strategic Petroleum Reserve has declined to levels not seen since the early 1980s. The SPR is a tool used to alleviate the market impacts of both domestic and international disruptions, caused by among other things: weather, natural disasters, labor strikes, technical failures/accidents, or geopolitical conflicts. Source: U.S. Department of Energy. Office of Cybersecurity, Energy Security, and Emergency Response. This image is in the public domain. Since the start of 2023, the SPR has drained by another 6.5% or 24 million barrels. Source: U.S. Department of Energy. Office of Cybersecurity, Energy Security, and Emergency Response. This image is in the public domain. The SPR is comprised of 60 caverns, each one of which can fit the Willis Tower, one of the world's tallest skyscrapers. Source: U.S. Department of Energy. Office of Cybersecurity, Energy Security, and Emergency Response. This image is in the public domain. The decision to withdraw crude oil from the SPR in the event of an energy emergency is made by the President under the authority of the Energy Policy and Conservation Act (EPCA) and done through competitive sale. Perhaps what is so remarkable is that over the past 2 years, the Biden Administration has released nearly 300 million barrels of crude oil from the SPR, concurrent with the Federal Reserve undertaking the most extreme pace of monetary tightening on record in its attempt to maintain price stability, and yet crude oil prices have barely subsided. In fact, in recent months, crude oil prices have surged, as shown in the chart below. The global crude benchmark, TVC:UKOIL has been on an upward trajectory in recent months, soaring nearly 30% since June. On the higher timeframe chart, we can see that crude oil prices show strong upward momentum. As soon as the Federal Reserve pivots back to monetary easing crude oil prices will likely resurge. A log-linear regression channel is applied to the quarterly (3-month) chart of NYSE:OXY Petroleum, showing the current bull rally could just be the first leg of a multi-year upward trend. The red line in the middle represents the mean price and each gray line represents one standard deviation from the mean. Perhaps the tendency of crude oil to rise in price over the coming years is why the Oracle of Omaha , Warren Buffet, began purchasing a large number of NYSE:OXY Petroleum shares in 2022, accumulating more than a 25% ownership stake in the company by mid-2023. Some financial experts are sounding the alarm about the SPR depletion. The founder of The Bear Traps Report , Larry McDonald, has indicated that the drastic decline in U.S. oil stockpiles, a critical asset in times of conflict, undermines America's energy security. McDonald is warning that diminishing domestic oil reserves heighten America's dependence on imports, potentially exposing the nation to severe supply disruptions and extreme price volatility in the international oil market. Each time the price of crude oil subsides, petroleum exporting countries, including Saudi Arabia and Russia, cut production to keep prices higher for longer. To some, it may seem that these production cuts are a gray zone tactic meant to deplete an adversary of its strategic oil reserves before engaging them in a conflict. There is also collateral damage occurring to the U.S. dollar. The petrodollar system, which emerged in the 1970s when the U.S. abandoned the last vestiges of its gold standard, was a series of agreements between the U.S. and petroleum exporting countries to use the U.S. dollar for cross-border oil transactions. Since almost every country needed to import or export some amount of petroleum, the petrodollar system was a means of ensuring a perpetual global demand for U.S. dollars despite the currency not being redeemable at the Federal Reserve for anything of value. As crude oil prices continue to surge, despite the Federal Reserve tightening monetary conditions at the fastest pace on record, a crisis is unfolding for developing countries that lack access to dollars. These countries are on the precipice of hyperinflation. In essence, by tightening the supply of dollars the Federal Reserve is exporting inflation abroad, especially to those that lack easy access to dollars. Consequently, countries at the periphery of the dollar access hierarchy are being incentivized, now more than ever, to turn to alternative currencies, thereby accelerating de-dollarization. As oil prices continue their relentless march upward, the scenario continues to exacerbate inflationary pressures in the U.S., and even more so, abroad. Higher prices could compel the Federal Reserve to maintain higher interest rates for much longer than anticipated, even in the face of deteriorating economic conditions and rising unemployment, resulting in stagflation. Exacerbating the situation further are global climate change policy objectives, which act as a disincentive for countries to increase domestic oil production. If a major geopolitical conflict occurs when petroleum reserves are depleted and production is constrained, the outcome could result in severe stagflation, as prices spiral higher even though economic growth stagnates in the face of a fragmenting world. * * * Important Disclaimer Nothing in this post should be considered financial advice. Trading and investing always involve risks and one should carefully review all such risks before making a trade or investment decision. Do not buy or sell any security based on anything in this post. Please consult with a financial advisor before making any financial decisions. This post is for educational purposes only.
ECONOMICS:USCOSPRE
by SpyMasterTrades
49
Say hello to sellers, Done your target#USOIL.. well guys as I told you in my last 2 or 3 ideas about oil that is bull run for oil and upside our target was 90.50 to 91 And that is done in today, Congratulations to all followers, Now that zone is need your focus guys. Keep close that area arround ,90.60 to 91 that will be most important now. If market hold this zone the. Drop expected from here otherwise above that zone a new buying era will start again.. Trade wisely Good luck
TVC:USOIL
by AdilHussain731333