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LONG USOIL approaching support , Prepare For A BounceUSOIL is approaching our first support at 54.96 (horizontal overlap support, 61.8% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 56.71 (61.8% Fibonacci retracement , horizontal overlap resistance). Stochastic (89,5,3) is approaching support and we might see a corresponding bounce in price above this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:USOILLong
by FlowState
1
LONG USOIL approaching support , Prepare For A Bouncejust now USOIL is approaching our first support at 54.96 (horizontal overlap support, 61.8% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 56.71 (61.8% Fibonacci retracement , horizontal overlap resistance). Stochastic (89,5,3) is approaching support and we might see a corresponding bounce in price above this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:USOILLong
by theforexarmy
CLJ2019's Anticipated Range This is a 10H chart of CLJ2019, which will be trading until it expires the 20th of March. The Gann Box tool is squared to the high & low range of this contract; from the 7601 peak to the 4300 bottom. There are also the 45º and 15º angle lines coming from various highs and/or lows. As shown in the chart, the oil price is currently approaching the 150 day EMA, it has increased from the 4300 low by a third and the 1/3rd area coincides with 150 day EMA.., and all this is happening after it saw a record breaking plunge of ≈45% from its 7601 peak. Traders who held short risk exposure through that 33%+ rise from the low are likely to take profits at these levels. The reducing of short risk exposure is anticipated to manifest itself in a minor pullback of 200+ ticks at least. Shorting the pops seems to be the reasonable approach from here. The risk factor for short entries is $1.3K (130 ticks) per contract with a potential of 2R return for risk.
NYMEX:CLJ2019Short
by Zoen_Trieste
2
SHORT USDOIL approaching resistance, potential drop!Feb 21 USOIL is approaching our first resistance at 59.85(horizontal pullback resistance, 61.8% Fibonacci extension , 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 55.81(23.6% Fibonacci retracement , Horizontal pullback support) Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:USOILShort
by FlowState
4
LONG Is WTI Oil gearing for further upside? $57.50 in sightWTI Oil has staged an impressive rebound in recent weeks with prices currently trading near a three-month high above $56.50 as of writing. The inverse head and shoulders pattern on the daily charts signal further upside with the first key point of interest at $57.50. A solid breakout above this level is likely to open a path towards $60.00 in the medium term. Intraday traders will be concerned with how prices behave around the neckline which is coincidentally around $56.30 - $56.50. This bullish setup remains valid as long as prices are able to keep above $54.00.
FX:USOILLong
by FXTM
1
OIl market: the current state and perspectives in 20192019 the oil market meets in a kind of depressive state. Over the past two to three months oil prices declined more than 30%, so investors’ sentiment consequently is rather gloomy. A rather symptomatic phenomenon was the massive decrease in forecasts by analysts at the very beginning of 2019. For example, Societe Generale Bank lowered the price forecast for WTI in 2019 by $9 to $57.25 per barrel, that is, by 8.6%. Analysts at investment bank Goldman Sachs lowered their forecast for Brent by 11%, and for WTI - by 14%. Causes of bearish sentiment Two key factors, which stimulate sales in the oil market, can be distinguished. Firs one refers to demand, the second one - to supply in the oil market. Talking about oil demand in 2019, the question arose about prospects of economic growth generally in the world, and prospects look bad. Accordingly, the slowdown of the world economy would provoke the decline of oil demand. Last economic data from China, which has been an engine of the global economy for many years, show that the Chinese economy is slowing down. Do not either forget about global changes in the world - the growth of the market of electric vehicles and sharp and active development of alternative energy. All these has its negative influence on the demand in the oil market. As for supply in the oil market, the key parties of the oil market (Russia, USA, and Saudi Arabia) produce the oil on the maximal historical levels. The US shales are in excellent shape, as evidenced by both the overall record volumes of oil production and export from the USA and the number of active drilling rigs. It is also significant to solve the infrastructure problem in the United States (pipelines have reached maximum performance and cannot pass more oil), which will allow increasing the volume of oil production in the United States much more. Besides, massive long-standing projects in Brazil and Canada allow precisely in 2019 considerably to build up the oil production in these countries. It means the supply in the oil market increases, and it has a defective impact on the oil quotations. What can make a difference The new OPEC+, in theory, can lead to a change in oil market conditions in 2019. Recall the countries have agreed to reduce oil production by 1.2 million barrels. And this is enough volume to change the balance in the oil market in favor of buyers. Negotiations between the USA and China are able to bury the trading war hatchet between countries, what may well lead to the improvement of the perspective of the economic growth not only in China and the US but in the whole world. This, in turn, will provoke an increase in oil demand and oil prices consequently. Besides, technically, the correction in the oil market is already overdue. Last but not least, in long- and mid-term perspective oil’s sales look the most preferred. But short-term dynamics will be determined by current market sentiment, which so far is more likely on the buyers' side.
OANDA:WTICOUSDShort
by Trade24Fx
US Oil – Long Term DOWNThis is a wild guess, and I cannot be sure the same pattern will follow. It is for educational only and please feel free to share your opinion and thoughts, whether you agree or disagree with this observation. In 2008, oil fell from its all-time high from @ $144 to $36 (~75%), and then oil dropped again in 2014 from $107 to $29 (~73%). If the previous two drops are indicators of this one, we can assume oil going to $20, which is about 70% of its recent high and another 55% drop from current level. This cycle should complete within in the next 4-6 months.
OANDA:WTICOUSDShort
by Master4
2
USOIL Possible Bear Continuation Targets USOIL is being well supplied after pulling back to the grand 45 degree line coming down from the top. If 5000-5050 area fails, the bear case becomes more relevant. Assuming pre mortem conditions, the inventory report turning this around and supply being dried up by incoming new demand, it is reasonable to look for entry opportunities on the lower timeframes. It's better to get out after being proven wrong shortly after entry than hold the bag for who knows how long.
TVC:USOILShort
by Zoen_Trieste
CRUDE OIL ON A SUPER BEAR TREND CYCLE? INSIGHT FULLY EXPLAINED!If you have been paying attention to oil then you would have noticed prices dropped from $76 to $54 in the space of a month and even more impressive is the very recent drop of $6+ in the span of around 24hrs, which was a jaw dropper for me. Just 2 months ago when market was still slowly climbing uphill I had outlined support areas for when market goes into retracement, which can also serve as resistance areas depending on your outlook. Little did I know we were soon to go into a huge and fast bear trend. Now as market has been dropping, it has smashed through much (though not all) of my support/resistance lines which are usually depicted with yellow lines on my chart. So upon observing this major drop, I had to take a closer look at market beyond the daily here to see what weekly and monthly depicted and I saw the bigger picture in motion. Prices were exactly at these levels in November last year so current prices is not a coincidence. Market is following its steps back and as a super bear trend, the chances of market to continue on path to its history looks very much likely. Bear trend was also confirmed on the weekly with the double top that played out when market hit mid $70s twice before finally taking an official downturn. You can see both tops are in alignment where the candle bodies are aligned, this is highlighted by my pink line in the chart and also labled. Double Top: The double top is a frequent price formation at the end of a bull market. It appears as two consecutive peaks of approximately the same price on a price-versus-time chart of a market. The two peaks are separated by a minimum in price, a valley. The price level of this minimum is called the neck line of the formation. The formation is completed and confirmed when the price falls below the neck line, indicating that further price decline is imminent or highly likely. en.wikipedia.org Now on the weekly based on it's history, the bottom of current support is $56 with the wick down to $54, hence why we see market swimming at current prices, but I believe this will not hold and after some retracement going up that is in high order, market will continue on its sinking path and the next support is at $45 with the candle wick all the way down at $41. After this, next support is $33 with wick all the way down to $25 and this ladies and gents is where the super bull trend cycle originally started it's journey. Also, looking at the CM_Ult_Macd indicator, this was first to highlight the bear trend, first on the daily, then weekly and past few days the monthly MacD just broke into a bear too, next indicator is the CM_Ultimate_MA, this usually depicts bear trend slower than the MacD but it is bear on the weekly, yet to depict on the monthly. Also prices are inside ichimoku cloud on the monthly which does not look good for the upside while the weekly and daily view have prices under the cloud which indicates market to be in bear trend on those outlooks. So it would seem prices are pretty much bear and the only thing barely holding prices up is monthly outlook. Now for the retracement going up(which is in high order), we may possibly see $58/59, but if a wick is decided to form on the monthly view it may take us into the $60s but would stick to the lower end of $60s. This retracement may or may not play out, so not guaranteed but hopefully it does so I can get a better sell position for more profit as I unfortunately exited my sell at $58 prior to seeing the bigger picture at play. Now I charted this using weekly outlook to show the double top and why market sits at current prices but will shortly update with the bigger picture that ties everything together, which is the monthly view. Here you should better see why the target prices are chosen on a further drop so stay tuned. Here is a chart i made putting together with a few well-crafted indicators by some great creators on tradingview. It allows you to tail trail oil market intraday on the 3 minute view. I hope many of you find this helpful, i use it to trade myself :) www.tradingview.com Here is a link to understand better what this little tail trailer will be showing you. en.wikipedia.org Furthers Tips; Alternative to trading Crude Oil is Brent Oil, this market moves like an identical twin to Crude they mirror images of eachother. Polar opposite to both markets is Natural Gas, this market moves in the complete opposite to Crude and Brent atleast 90% of the time so although I am yet to analyze NG market, it has not failed to meet expectations in contrast to crude movement in the past year of my observations. Also Apple Market is another market I've been trading the past 2 months, prices have been sinking and I see a bottom of 160s which should playout within the next 4months so watch that space closely. You can either get in on further drop or if not confident then wait for bottom and get in to buy market up when it gets back to bull trend. If you have enough funds and want to be like Warren Buffett, invest and HODL for the long term, then look for markets that have bottomed out, get in and hold for years because the only way is up, one of many I spotted is Platinum, which i will link my chart to this post, feel free to check it out. Oh and the period for crypto to take a turn for the upside is upon us again so look into that. If you notice, many markets are on a superbear cycle and I predicted beginning of this year that markets are due for a crash and once this happens, much of the money will jump into crypto. Now call me intuitive but I see this has started playing out in the past few months. Look at major stock markets! If it helps, I am a hodler in Tron, Bitcoin, Ripple and few others via binance platform. DISCLAIMER; Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders. All comments and questions welcome, if curious about indicators I use then feel free to inquire. IF YOU SUPPORT MY IDEAS THEN LIKE, FOLLOW & SHARE.
TVC:USOIL
by Dani0
4