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Oilforecast

The Beast! - Resting may be coming to an end Well Well Well, Oil is back in the 60's with a threat of dipping it's toes in the 50's pool. This is a time where there is uncertainty in the market and everyone is panicking. If you add all of the news plays, one could go mad trying to catch every twist and turn Oil takes people on. anyway, What are we looking at? We are seeing Oil at the lowest point it has been since 2021. Its funny how that happens when the same war that helped push it up to above $100 is still going on. This is why we have to play the news rather than the other way around. So we are currently looking at long scalps and are holding some longs from 64.75. We however know very well, as mentioned multiple times in the past that 61-62.7 region is the real support there as it bounced off of that zone 3 times in 2021,with the last bounce becoming a full blown Bull run to $129/$130 in March of 2022. Below that we have $60 and of course $57 from March 2021. This therefore means that no one should really be super blindly bullish just yet. Oil is never obliged to do anything so it does not necessarily need to go to those levels but there are some Vector Candles don there that have liquidity in the from previous years. The most recent of the 2021 Green Vector Candles from December 2021 to be recovered was the one from 12122021 at $64.44. The next significant Green Vector Candle to recover is at $62.35 which means if the current lows are broken then Price is heading that way. BEARISH VIEW The only reason that Oil should remain Bearish is to go and take out levels from prior years or to do a Covid type crash. The levels we are looking at as destinations for this year long sell are as follows: $63.8, $62.8, $62.5, $62, $61.8, $60.8. $59.8, $57.8, $55 And some of the levels we are looking to re-short down to these levels at if we get a good bounce or range are as follows: $69.5, $70, $70.5, $70.8, $71.7, $72, $72.5, $73.3 BULLISH VIEW The main reason we have become bullish is that since coming below the 50 EMA on the Weekly TF,we have now had 3 big Red Vector candles to the downside. This is what appears as the hits in the lower TFs. Through Hours of Back testing, when this happens there tends to be a run after that. The same applies for Greens in the other direction. What else: (1) The Weekly is approaching over sold on the Stoch RSI (2) On the Fibonacci Retracement tool We have made contact with 50% ($65.30) (Lo 0, Hi 130), on the higher Tfs. (61.8% at $49.92) (3) Demand and Supply- Simply, Price is lower than it has been for awhile an People Dollar cost average into positions for longer term moves. We will see new all time high in Oil in the next 2 years. Or at least a retest of the current one. (4) Inflation is everywhere and this means price of goods will increase and Oil is an essential commodity for way too many reasons. There are definitely more reasons but this is getting a bit long Be careful as the Bearish targets have not all been hit yet, but a long to $70-$72 looks quite safe to execute, even if it test/retests $66-$62 area before doing it This is not Financial advice and should be taken with a pinch of Salt! Good Luck
NYMEX:CL1!Long
by Squeeezy-Trader
Crude oil continues to fall, where will it stop falling?Crude oil prices continued to fall today, and are currently trading near US 65 per barrel.On the fundamental level, the supply and demand structure of the international crude oil market is still a small oversupply. Unless OPEC has a significant production reduction, it will be difficult to achieve much growth on the demand side. Although UBS reached an agreement to acquire Credit Suisse over the weekend, and the Federal Reserve and other six major central banks jointly acted to enhance liquidity to appease and stabilize global financial markets, U.S. crude oil once rebounded by more than 1% to US 67.4 per barrel, but worries quickly picked up again, and the United States still has unresolved banking problems. The market is worried that the banking crisis will develop into a global financial tsunami, which in turn will drag down crude oil demand. U.S. crude oil quickly took back gains and continued last week's decline. It is currently down more than 2%, with a minimum of US 64.4 per barrel, which is December 2, 2021. A new low since then. From the trend point of view, oil prices broke down after a wide-ranging shock at the daily level, and continued to fall after losing the important support of the 70-integer mark. Even if the 70-integer mark was not recovered during the subsequent rebound and the decline continued, the downward break was basically determined. The technical side is biased towards bears, and the future market of oil prices is inclined to further test the support near the December 2021 low of 62.46, and even look at the 60-integer mark.The initial resistance above is near 67. If this position can be recovered, it will increase the possibility of low oil price shock adjustment. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
Crude oil bears are not finished, predict the trend of crude oilAs the banking crisis hit the global financial and oil markets, NYMEX crude oil and Brent crude oil both fell more than 9% this week, and oil prices will record their largest weekly decline since the week of December 9 last year. From the perspective of the trend, crude oil rebounded weakly after breaking through the level. Whether it is the daily or weekly line, it is effectively falling below. Pay attention to the trend after a few months of volatility. The market must continue to take advantage of the trend in the short term. Taken together, crude oil as a whole is still in a bearish trend. At the daily level, crude oil oscillates and breaks downwards, and oil prices lose important support near the 70 mark. The market tends to continue to run downwards in the Bollinger band. The target refers to the position near the low of 62.43 on December 2, 2021.Since oil prices have recorded a longer lower K-line for two consecutive trading days, suggesting strong lower support, a DOJI was recorded on Thursday, and the KD technical indicators are also close to issuing an oversold signal. There is still a possibility of volatility bottoming out in the short term; the initial resistance is near the intraday high of 70, and the short-term resistance can be reasonably lowered to near 68.6-68.8. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
2
Oil prices start to rebound, go long?Oil prices bottomed out and rebounded on Thursday, ending a three-day decline. Earlier, there were reports that Saudi Arabia and Russia met to discuss how to strengthen market stability. The two countries continue to promise to abide by the decision to reduce their production target by 2 million barrels per day by the end of 2023; helped by a strong rebound in the financial sector, US stocks closed sharply higher and also boosted oil prices. However, the risk of spread between banks still makes investors nervous, suppressing their appetite for assets such as commodities, because they fear that further rout may trigger a global recession and reduce oil demand.In addition, market concerns about oversupply still cast a shadow over the outlook for the oil market.The IEA said on Wednesday that commercial oil stocks in developed OECD countries have hit an 18-month high, and Russia's oil production in February remained near the level before the war in Ukraine, despite sanctions on maritime exports. From the trend point of view, oil prices have recorded a longer downward K-line for two consecutive trading days, suggesting strong downward support. On Thursday, a doji was recorded. The technical indicators are close to issuing an oversold signal. There is still a possibility of short-term volatility in oil prices. Bottoming out; however, before regaining the 70 mark, oil prices as a whole are still running in the air.At present, the initial resistance is near 70. If this position can be further recovered, it will increase the bullish signal in the future. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Short-term-king
Crude oil continues to fall, where will it stop?After the recent bankruptcy of Bank of America, the pessimism of global investors lingered, and the increase in API crude oil inventories was greater than expected. It is expected that oil prices will still be at risk of further decline in the future. In the trend of crude oil, the short-term decline continued during the day. The current lowest point during the day reached near 69.82, which broke the support near 70.09 at the bottom of the shock box for the past four months since December 9, and fell below the 70 integer mark, which means that oil prices have broken the shock trend for the past four months and have the possibility of accelerating the decline. Once it is established that the fall below the 70 mark is effective, further strong support refers to the low of 66.15 on December 20, 2021 and the low of 62.46 on December 2. Near the position. In addition, this trading day also needs to focus on the EIA crude oil inventory series data and the IEA monthly crude oil market report. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me.
TVC:USOILShort
by Short-term-king
4
Crude oil: next target 80Scott Sheffield, CEO of Pioneer Natural Resources, a major US shale oil producer, stated at the CERAWeek energy conference held in Texas this week that oil prices have hit bottom and could surge 17% by summer. In an interview, Sheffield said that over the past year ending in December, US production growth was only about half of what was expected and the industry has been facing ongoing issues of declining refinery capacity and inventory. Over the past few months, the price of West Texas Intermediate (WTI) crude oil has fluctuated around $73-80 per barrel. On Thursday of this week, WTI crude oil prices hovered around $77 per barrel, while Brent crude oil prices were around $83 per barrel. Sheffield expects oil production growth to slow significantly, although not necessarily to decline, due to the constraints of refinery capacity and inventory. According to the US Energy Information Administration (EIA), the US produced an average of 11.9 million barrels of crude oil per day in 2022, lower than the record average of 12.3 million barrels per day in 2019. EIA predicts that daily oil production will be 12.4 million barrels per day this year. Sheffield believes that the US may recover to a production level of around 13 million barrels per day in two to three years, which is equivalent to the level recorded in November 2019. He added that this will be a "very slow pace." There are two reasons for the slow growth in US crude oil production: insufficient refinery capacity and limited inventory. Sheffield pointed out that "first, we don't have refinery capacity. If we increase drilling, service costs will rise another 20-30%, which will take away free cash flow. Second, this industry does not have enough inventory." He added, "Our estimate of free cash flow last year was $8 billion, and we expect free cash flow in 2023 to be only $4 billion." As for when oil prices will rise, Sheffield expects that "at some point this summer, WTI will break through $80 and move towards $90 per barrel." The market is changing rapidly, I hope everyone can seize the opportunity and make money The personal free guidance channel is open for a limited time, you are welcome to join
TVC:USOILLong
by Navigation-h
OIL: Expected to rebound to $80 The oil price also rose nearly $2 under the stimulus of data, reaching a high near $77. On the 30-minute chart, oil underwent a wave of pullback after consolidating near 76.6, and its current position is the previous consolidation level, which has some resistance but not strong. The short-term strong resistance should be around 77.4. From a technical standpoint, the current process resembles the formation of a U-shaped bottom, with the MACD indicator in a crossover state. If a death cross occurs, it means that oil prices will experience a short-term pullback to seek support, which is likely to be around 75.6-76. On the 4-hour chart, oil has been oscillating within a box range, and the range of 81-82 is a strong pressure level. The MACD indicator has formed a golden cross, and unless there are unexpected events, the oil price is expected to touch near 81 in the near future. Therefore, I believe that the current focus should be on long positions for oil, with buying points around the support level near 76. The first target is around 78, and the second target is around 80. If it breaks through 80, it can go up to around 82. The probability of a one-step trend is not high, and oscillating upward is the most likely event. Every pullback after each rise will be a very good long entry point. Thank you for your attention and trust. Please continue to follow me, and I will bring you more wonderful insights and help you gain more profits!
TVC:USOILLong
by triumphing
Crude Oil CROSSROAD! Reversal or Breakout? 12.0376.80-77.10-20 is a crucial resistance level. A break above may lead quickly towards 80.80 and beyond. Keeping below may lead to retest of 74.90 to 73.20 support trend-line. 74.90 is the trend-line, 73.20 is a cluster of horizontal support. Keep to the range and be patient! -------------------------------------------------------------------------------------------------------------- I do advise practicing caution while trading, especially leveraged products. Do your own research and never trade what you cannot afford to lose. --------------------------------------------------------------------------------------------------------------
TVC:USOIL
by Exactus
7
OIL: Short above 77 today Oil saw a high-volume drop below support near 78 yesterday, which turned the immediate position into a resistance level. As of now, there has not been a complete breakthrough and the trend has weakened, so in terms of trading, selling short positions is the main strategy for today, with buying long positions as a secondary strategy. Specific trading strategies: Sell short near 77.4-78.5, take profit near 76 Buy long near 75.7-74.2, take profit near 76.5 I will continue to track market trends and share trading strategies in real time. Thank you for your attention and support. If you have any questions, please leave a message in the comments section. I will provide you with the most sincere and responsible solutions to help you solve your problems. Many things may not yield immediate results at first, but only those who persist in pursuing their goals can experience the joy of success. As the saying goes, "Every cloud has a silver lining." The effort you put in will eventually receive a satisfactory response from time.
TVC:USOILShort
by triumphing
1
Will crude oil continue to rebound strongly? Long or short?In the crude oil market, due to the larger-than-expected decline in U.S. crude oil inventories and bullish expectations for Chinese demand, concerns that the Federal Reserve's more aggressive interest rate increases will slow economic growth and weaken oil consumption have limited the rebound in oil prices, so the crude oil market is still uncertain. Judging from the trend, the current crude oil has rebounded strongly in the short term after fluctuating at a low level, but it is not enough to change the daily shorting situation, indicating that the overall trend of crude oil at a large level is still weak.Although the short-term rebound is shown on the 2-hour level chart, the short-term rebound is quite strong, but the pressure is heavy above, and the short-term continuity is a problem. It may continue slightly, but it is difficult to say how much room there is to continue without breaking the low range for the time being.Short-term may be accompanied by resistance loops, the market has returned to operate within the weak range. In terms of strategy, yesterday's thinking was also high-level shorting, but today's thinking is still high-level, supplemented by low-level long-selling. Crude oil is shorted near 77.8-78, and the first target is near 75.5 In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
TVC:USOILShort
by Blessed_V
2
OIL: Trade at these levels Recently, the technical trend of crude oil has mainly been volatile, with support around 76.5-75.7 and short-term resistance around 78.1-78.8. Trading is dominated by short positions, with long positions being secondary. Specifically, short positions can be entered around 78.15, with a target around 77.5-77, while long positions can be entered around 76.5-76, with a target around 77.5-78. I will continue to track the market trends in real-time and share strategies. Thank you for your support and attention, and I hope you continue to follow me as it will contribute to the completeness of the trade. I will also share more interesting trading strategies for you to refer to! If you have any questions, please leave a message in the comments section, and I will provide you with the most reliable solution with the most serious and responsible attitude to help you solve the problem!
TVC:USOIL
by triumphing
1
The morale of crude Oil bulls is strong, breakthrough!Fundamentals: On Tuesday (March 7), international oil prices tended to fluctuate.Previously, the UAE's withdrawal from the Organization of Petroleum Exporting Countries was proved to be untrue, and there was a need for technical correction after the surge in oil prices.And cautious investors are waiting for Fed Chairman Powell's upcoming testimony later this week.However, signs of China's economic rebound have prompted Saudi Arabia to continue to increase its prices in Asia, bringing support to the oil market. Technical aspects: At the daily level, after oil prices have risen for five consecutive trading days, oil prices have initially stood above the 80 integer mark. The daily line has gotten rid of the downward trend channel, and the opening of the technical indicator Bollinger band continues upward. MACD golden fork, KD stochastic indicator golden fork, technical bullish signal continues, if it can withstand the short-term pullback pressure, it is expected to continue to oscillate higher, the initial resistance is near the Bollinger band rail 82; further strong resistance is near 83, which is where the top of the box that has oscillated extensively since the end of November is located. If it breaks further, it will increase the medium- and long-term bullish signal. At the 4-hour level, oil prices as a whole are still in the channel of rebounding upward trend, but they are still suppressed by the short-term moving average, and the KD stochastic indicator sends a short-term overbought signal. It is still necessary to beware of the risk of short-term oil prices falling back.However, the short-term volatility here is still within the normal range, which is a technical repair to the short-term rally, and the 79 position of the 20-day moving average below has been transformed into a preliminary support position. If this position is lost, it can be judged to weaken the bullish signal in the future. Taken together, today's short-term crude oil operation ideas are mainly based on stepping back and lower, supplemented by rebounding high altitude, which can be done at the 79 position and the target position is 80.5
FX:USOILLong
by Blessed_V
Oil: Go long on this range. After analyzing the 4-hour chart of crude oil, it is found that yesterday's market first fell and then rose, rebounding after reaching support near 78. In the short term, it has broken through resistance at 79 and 80 and now support has formed around 78 and 79. If there is a substantial breakthrough and stabilization around 81.5, there is a high probability of further rising towards the strong resistance level near 83. However, the market currently needs further consolidation and momentum to complete the potential breakthrough, so we recommend shorting at higher levels and going long at lower levels. The specific recommendations are as follows: short around 81-80, long around 79-78, with a stop loss of 70 points and a take profit of 200 points for each.
TVC:USOILLong
by triumphing
Ready to buy crude oil again. Friends who followed my previous article have already sold at the perfect profit point. As expected, the trend is up from 78.5 to 80.5. So, there are still opportunities in the oil market. Personally, I believe that the 1-hour chart will form support around $80 and then continue to rise. It's not far from the buy point now! I will update the specific trading strategy later. Liking, commenting, and subscribing are the greatest encouragement to me. Follow me to make trading easier! Also, welcome to check out my other ideas below.
TVC:USOILLong
by Ice_and_Fire1
It caused gold to drop by $100!!!Due to the release of the February non-farm payroll data, gold fell nearly $100. This month, we will soon face the baptism of another major non-farm payroll data, which is a great opportunity for gold traders. As long as we grasp the trend correctly, the profit from a single trade can be considerable. This data will be released on March 10th. As of the close on March 3, gold has broken through the resistance level of $1850, and the next resistance level of $1860 is within sight. Therefore, in next week's trading, I will continue to go long on gold until the trend changes. I have also prepared myself for the release of the non-farm payroll data, and I believe the results will be very friendly. Let's wait and see. Here, I will explain how non-farm payroll data affects the price of gold: The number of non-farm payroll employees is the main indicator of the US employment market, and its impact on gold is significant. Generally, if the non-farm payroll employment number is higher than expected, it means that the US employment and economy are improving, which is good for the US dollar but likely to cause gold to fall. Conversely, if the employment number is lower than expected, it means that the US employment and economy are declining, which is bad for the US dollar but likely to cause gold to rise. Of course, this is not entirely certain , as unexpected situations may arise. For example, sometimes the market may move in the opposite direction to the data, where the released data is better than the previous value (i.e. bullish data), but gold prices fall. Conversely, sometimes the data is bearish, yet gold prices rise. There are many reasons for this, such as the difference between the released data and the forecast being too small to make a significant impact, the market having already priced in the information before the data release, or other events occurring simultaneously that have a greater impact on the market. Therefore, when trading, we must pay attention to these aspects of influence and not rely solely on the positive or negative aspects of the data to decide whether to go long or short. I have prepared myself for trading non-farm payroll data, so follow me and let's maximize our profits together!
FXOPEN:XAUUSDLong
by triumphing
1
Recap of my trade for todayGood afternoon traders, our trade for today on CRUDE OIL was as good as expected, after breaking the channel we got in with one contract exactly on the candle I put the 1st arrow on on the left, then after having a configuration I can't share with the public we added another contract on the 2nd arrow on the left, then the 3rd contract on the 3rd arrow and finally closed after having a squeeze pattern. In case you got any question don't hesitate to ask !
NYMEX:CL1!
by YassineAnalysis