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Crudeoilwti

Crude oil trades around this rangeCrude oil fell last week, the weekly cross small Yang K line to stop falling and start to stabilize, after a continuous decline, a slight short-term rebound. A strong rally held the 67.70 low and established support in the previous low area. A small wave of sun line initially recovered the last big Yin K line and recovered the apex of the big Yin line. The short-term weakness will be turned into a shock, and then with the recovery of space, it will become a rebound upward, and the local formation of a long-short switch. The 4-hour chart relies on the middle rail as a bullish support to rebound, and quickly recovered the lost ground after a brief step back on Friday, while recovering the 72.0 mark, and the step fell the second high point, breaking the weak fall. Top focus on 74.7-74.5 line resistance, Focus on 71.8-71.5 first-line support below.
NYMEX:CL1!Long
by the_Hand_of_God
Dirty practices of corporate forecasts portrayed in the mediaOn Tuesday, we touched on the subject of corporate forecasts in the oil market portrayed in the media. In fact, we remarked how the recent announcements of ultra-bullish forecasts were very reminiscent of the 2022 oil market top and that we were pretty skeptical about the rally's sustainability (though we warned about this on a different platform three weeks sooner). Fast forward to today, and we can see that oil is down from nearly $95 a week ago to less than $84 today (down more than 12%). With this price action following recent upgrades for the oil price by various financial entities, we would like to point out a few similar news articles in the past, which often preceded the trend reversal to the opposite direction of the forecast. While we can only speculate whether it is intentional or not, we have seen these practices taking place for years, with big players coming to tell retail investors to buy near the market top or sell near the market bottom. The following presentation aims to advocate that one should always do their own research rather than rely on the opinion of others whose true intent or trading strategy is unknown. Illustration 1.01 Illustration 1.01 shows some of JP Morgan’s forecasts in the past year or so, written as articles published by various media outlets (keep in mind that we are not showing all of the forecasts; there were some that were actually fulfilled). Illustration 1.02 Illustration 1.02 displays more corporate forecasts from JP Morgan. Technical analysis Daily time frame = Bearish Weekly time frame = Neutral (turning slightly 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:USOILShort
by Tradersweekly
20
Crude Oil (WTI)This looks like it is poised to head back into a well established $70-$80 range (and then some!). Anticipated long-term USD strength, as well as extended Global economic weakness bodes well for an enduring price weakness outlook. Technically, Crude is at a major pivot, both, at the top of a rising daily channel, as well as at the top of a descending weekly channel trend line, resulting in a significant confluence region - both of those having price-negative connotation. The Daily (main signal); SHORT on any reversal! ... and the 240 min. (secondary signal);
NYMEX:CL1!
by Nemo_Confidat
2
WTI trade analysis Through the analysis of the hourly chart of crude oil, we know that the last trading day first rose, then fell and then rose again, forming a narrow concussion trend. Since crude oil rose from highs and fell back, it has been in the midst of a concussive adjustment. Last Friday, it was said that an adjustment is imminent. Once the heavy volume breaks through and stands firm at the 91.00 line, it will continue to fluctuate upward. In the early stage, the main bull funds intervened in the weak area at a high level and the market fluctuated all the way down. Currently, the main bull funds continue to flow in and there are signs of strength, indicating that the market is more likely to rise further. The short-term market continues to fluctuate and break through upwards based on the moving average system. In terms of operation, we continue to go high, low and long, focusing on going long on dips.
BLACKBULL:WTILong
by Jerome-Leon
Crude Oil Outlook for the Next 3 MonthsThe outlook for WTI crude oil in the next 3 months is mixed. On the one hand, global oil demand is expected to continue to grow, as economies around the world recover from the COVID-19 pandemic. This will put upward pressure on oil prices. On the other hand, supply of oil is also expected to increase in the coming months. OPEC+, a group of oil-producing countries, has agreed to gradually increase production. This will help to offset the decline in production from Russia, which has been hit by sanctions following its invasion of Ukraine. As a result of these factors, analysts are predicting that WTI crude oil prices will average around $85 per barrel in the next 3 months. However, there is a wide range of possible outcomes, and prices could go higher or lower depending on the global economic and political situation. How to Trade WTI Crude There are a number of ways to trade WTI crude oil. One way is to buy and sell futures contracts on the NYMEX. Futures contracts are a type of derivative that gives the buyer the right to purchase or sell a certain amount of oil at a specified price on a specified date. Another way to trade WTI crude oil is to buy and sell options contracts. Options contracts are a type of derivative that gives the buyer the right, but not the obligation, to purchase or sell a certain amount of oil at a specified price on or before a specified date. Options contracts can be used to speculate on the future price of oil, or they can be used to hedge against the risk of changes in oil prices. For example, a company that uses oil in its production process might buy put options on WTI crude oil to protect itself from rising oil prices. How to Trade WTI Crude Options There are two main types of WTI crude oil options contracts: call options and put options. Call options give the buyer the right to purchase a certain amount of oil at a specified price on or before a specified date. Put options give the buyer the right to sell a certain amount of oil at a specified price on or before a specified date. The price of an WTI crude oil option contract is determined by a number of factors, including the strike price, the expiration date, and the volatility of the underlying oil price. The strike price is the price at which the buyer of the option can purchase or sell the oil. The expiration date is the date on which the option contract expires. The volatility of the underlying oil price is a measure of how much the price of oil is expected to fluctuate over time. To trade WTI crude oil options, you will need to open an account with a brokerage firm that offers options trading. You will also need to deposit funds into your account. Once your account is funded, you can place orders to buy or sell WTI crude oil options contracts. How Companies Can Hedge Positions with Speculative Trading on the Stock Exchange Companies that use oil in their production process can hedge against the risk of changes in oil prices by trading on the stock exchange. For example, a company that uses oil in its production process might buy shares of a company that owns oil wells. This will help to protect the company from rising oil prices, as the value of its shares will likely increase when oil prices go up. Companies can also use options contracts to hedge against the risk of changes in oil prices. For example, a company that uses oil in its production process might buy put options on WTI crude oil. This will give the company the right to sell oil at a specified price, even if the market price of oil falls. This will help to protect the company from losses if oil prices fall. Speculative trading on the stock exchange can be a risky proposition, but it can also be a way for companies to profit from changes in oil prices. However, it is important to remember that speculative trading is not a guaranteed way to make money. Companies should carefully consider the risks and rewards before engaging in speculative trading. ////////////////////////////////////// Risk Warning Trading stocks and options is a risky activity and can result in losses. You should only trade if you understand the risks involved and are comfortable with the potential for losses. Rating: Mixed Outlook Risk Disclaimer! The article and the data is for general information use only, not advice! The Trade Academy Team - The Professional Trader Risk Disclaimer! General Risk Warning: Trading on the Financial Markets, Stock Exchange and all its asset derivatives is highly speculative and may not be suitable for all investors. Only invest with money you can afford to lose and ensure that you fully understand the risks involved. It is important that you understand how Trading and Investing on the stock exchange works and that you consider whether you can afford the high risk of loss.
NYMEX:CL1!
by TheTrade_Academ
WTI Light Sweet Crude Oil, 6/23/23For Friday, the 67.08 level can contain selling through next week, above which 73.28 attainable within a full week of activity, possibly yielding 76.98 within 2 - 3 weeks.   Upside Friday, 70.80 can contain session strength, while closing above 70.80 signals 73.28 within 2 - 3 days, able to contain buying through the balance of next week and the point to settle above for yielding the more meaningful 76.98 within 3 - 5 more days.   Downside Friday, closing below 67.08 indicates 62.14 longer-term support as a 1 - 2 week target, where the broader market can bottom out through summer activity.
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 6/22/23For Thursday, the 67.65 - 67.08 region can contain weekly selling pressures, above which 74.29 remains a weekly target, 76.88 attainable within 2 - 3 weeks.   Upside Thursday, 72.36 can contain intraday strength, while pushing/opening above 72.36 allows 74.29 intraday, able to contain session strength.   Closing today above 74.29 signals 76.88 within several more days, where the market can top out through next week, possibly into later July.   Downside Thursday, breaking/opening below 69.67 allows 67.65 - 67.08 intraday, able to contain selling through next week and the area to settle below for indicating 62.14 longer-term support as a 1 - 2 week target
NYMEX:CL1!
by SpecialeAnalysis
WTI Light Sweet Crude Oil, 6/20/23A two-sided framework continues through summer between 62.14 long-term support, and 82.33 long-term resistance, both regions able to contain seasonal activity.   Downside, a weekly settlement below 62.14 indicates 53.87 within several months, longer term Fibonacci support able to contain selling into later year.   Upside, a weekly settlement above 82.33 indicates 94.67 within several months, able to contain annual highs. - For Tuesday, the 67.08 - 67.54 region can contain weekly selling pressures, above which 74.29 remains a weekly target, 76.68 attainable within 2 - 3 weeks.   Upside Tuesday, 72.40 can contain intraday strength, while pushing/opening above 72.40 allows 74.29 intraday, able to contain buying into later week.   Closing today above 74.29 signals 76.68 within several more days, able to contain weekly buying pressures, possibly into later July.   Downside Tuesday, breaking/opening below 70.49 allows 67.08 - 67.54 intraday, able to contain weekly selling pressures and the area to settle below for indicating 62.14 longer-term support as a 1 - 2 week target.
NYMEX:CL1!
by SpecialeAnalysis
Bullish opportunity for oil might be on the horizon soonFor some time now, we held the view that the price of West Texas Intermediate crude oil would remain volatile, trapped within a wide range between $70 and $82. Then more recently, we stated that the oil price was likely to break below $70 as the U.S. administration sought to unload more crude oil from its Strategic Petroleum Reserves. Today, we would like to highlight (again) how the United States has continued to play a carefully calculated game in the oil market for the past two years. Between 7th January 2022 and 6th January 2023, the U.S. administration drained its crude oil in Strategic Petroleum Reserves (SPR) by approximately 221,8 million barrels (by 37% in the respected period), selling a significant portion of the stockpile at a relatively high price. By doing so, the administration put pressure on rising energy costs, which, combined with other factors, helped drive the price of WTI crude oil from nearly $130 per barrel on 8th March 2022 toward the $70 price tag in the first half of 2023. With the oil prices being down by approximately 45% from their 2022 highs and SPR being drawn by 39% from 7th January 2022 (up to date), the U.S. government is (unsurprisingly) changing its policy concerning Strategic Petroleum Reserves. Last week, U.S. Energy Secretary Jennifer Granholm notified the public that the Energy Department would begin refilling SPR as soon as next month. We think this process could make a good case for a temporary rebound in the oil price and thus bring an interesting opportunity to go long (though only for a very limited time) if the price falls below $70 again. Until then, however, we will stay on the sidelines and patiently wait. If the price drops below Support 1 at $69.44, we will reassess the situation and (potentially) start looking for attractive entry-level. Technical analysis Daily time frame = Neutral/Slightly bearish Weekly time frame = Neutral/Slightly 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
8