USOIL:Trading straregy
Yesterday, the market continued to fall as scheduled and adjusted to reach the support level of the chips below. In the short term, we can continue to focus on the pressure of the chip peak (around 73.80). We can also clearly see from the above picture that the CCI has further upward movement In the short term, there is also a lot of pressure at the top, just focus on the pressure of 73.20 and 75.70. The specific suggestions are as follows:
usoil:sell@73.2-73.6 tp1 72.3 tp2 71.8
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Oilshort
Crude oil continues to fall
My friends, the trend of crude oil today is consistent with what I expected. It is now almost close to TP. Crude oil is still in the range. Profitable friends can consider reducing their positions to maintain profits. I hope my suggestion will help you and allow you to continue to make a profit.
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Today's crude oil trading advice
Recently, the market's expectations for future fuel demand have declined due to the heightened risk of the U.S. economic recession, and API and EIA inventories have rebounded by varying degrees, which further supports this expectation. However, the AIE International Energy Agency strongly supports crude oil demand, coupled with the expectation of a new round of production cuts by OPCE+, crude oil has begun to reverse repeatedly after falling. After falling as high as 70 in the last trading day, it stabilized and effectively rose, and accelerated after the EIA data, it once hit the first line of 73.2, and the short-term range has repeatedly remained unchanged, and the operation is still not too much to chase
Today's crude oil trading advice
usoil:sell@72.5-73 tp:72-71.5
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4/25 Crude oil trading signal: Sell
The pattern of crude oil is similar to a double top, with resistance levels near 78.8-79.2, so a short signal was given before the market today. Now the trend is still in a short form. The rebound is a short opportunity. If you can't grasp the timing well, you can find me
OILCRUDE 4H 24/04/2023Currently, on the 4-hour timeframe, we are in a bearish range that ranges from 83 to 76, with the latter being the liquidity point of the range. Thus, we can look for a reaction in the gray zones, with the first zone being at 81 and the second zone being at 82, to consider a possible short operation. Alternatively, we can descend to lower timeframes to follow the new ranges that are forming.
Can crude oil continue to rise?On the news side, the IEA monthly report on Friday was released. The International Energy Agency said in its monthly report on Friday that world oil demand will grow to 2 million barrels per day in 2023; on the supply side, OPEC+ production cuts may lead to supply shortages in the second half of the year, which also restricts the decline in oil prices to a certain extent.In addition, the current entry of daylight saving time, more travel demand itself has reached the peak season of oil, and oil prices will be boosted by demand from many aspects and will usher in a new wave of increases.
Judging from the recent trend of crude oil, crude oil stepped back to 81.6 twice on Friday and was steadily caught by the bulls, indicating that the support below is strong and the rise will continue, so for the short term, continue to maintain the bullish thinking.Moreover, under the current pressure on oil prices, the strength of the pullback is limited, and oil prices have been fluctuating below 83.5 for the past five months. Once the resistance in this area is broken, it is expected to accelerate the rise and enter a new trading range.
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Oil is about to experience an uptrend
Oil experienced a sharp decline again today, and the EIA data was also unfavorable to oil. Currently, the oil price is close to the support level of 65-63. If this area is breached, the oil price will face the risk of falling to around $50.
As far as the current market situation is concerned, I think this probability is not high. Although we cannot completely rule out this risk, from a technical perspective, if the oil price continues to decline, it will become oversold, and there will be a short-term rebound demand. Therefore, in the trading process, I lean towards going long at lower levels.
If you have enough margin for oil, you can start a small long position now, and take profit at above 70 upon rebound.
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OPEC announced a production cut,how much upside is there for oilSaudi Arabia and other OPEC+ oil-producing countries announced further production cuts of about 1.16 million barrels per day on Sunday, which provided strong upward momentum for oil prices. They opened directly higher during the day and are currently slightly lower, trading near US
80.47.
Judging from the trend of crude oil, the high price this morning just touched the important pressure level at the top of the platform in the early stage, so there is demand for a technical decline in the short term.The current rebound of crude oil has exceeded expectations, and the structure has also undergone variables. If the pressure continues, we will first look at the phased replenishment action.
Short-term trading reference:
Try to sell crude oil in small batches near 80.5, with a take profit level of 79.4--79
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The rise of crude oil bulls is unstoppable?Because the banking crisis has temporarily eased, supply disruptions in northern Iraq have exacerbated supply tensions, and signs of increased demand from China have provided stronger support for oil prices.
Judging from the trend of crude oil, after yesterday's sharp rise in oil prices, it rebounded to above US 70, and the technical bullish signal was significantly strengthened.However, although the current oil price has returned to the range of the box, on the whole, the current price has basically touched the vicinity of the pressure zone of the box shock in the early stage, and it has also touched the pressure position of the channel in the short term.Oil prices are under pressure at the point of pressure, and the strength of today's rebound is not as strong, so the rebound that tends to be on the daily line in the short term may be almost gone, then the short-term trend may face a certain level of adjustment.On the other hand, after the last wave of the 4-hour-level trend rose, the price temporarily remained at a high level of narrow volatility. On the hourly-level trend, after a continuous narrow sideways movement, the technical pattern began to gradually weaken, so there may be a trend of spatial correction in the short term.
Short-term trading reference: sell crude oil near 73.80, stop loss level 74.2, take profit level 73.1-73
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2023 tradingdesk for OILFrom now i will have one main idea, and all the ideas as we reach cycle targets for the year will be updated in the thread.
I dont trade short term, keep in mind my ideas are longer term, and its boring.
We wait for the cycles to bottom and we wait once in the trade for the trade to mature.
Fallow, like so you dont miss the updates.
CL1 SELLWelcome . The oil market is in a negative state. After breaking the bullish flag. We are just waiting for a retest of the downtrend. To further go down to level 76
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USOIL BUYHello, the oil market has a high probability of going up. The price reached a very strong support. It is level 66. With very positive candles. subject to buyers' power . Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
WTI BEARISH OUTLOOKWTI had fallen for 3 consecutive days in Wednesday. The bank crisis is calling banks to deleverage their positions, pulling back on their exposure on oil and causing the price to fall.
International Energy Agency (IEA) is also reporting that the current situation in the oil market is a situation of oversupply, while Russia is looking for buyers for its oil.
The price of WTI broke the support of the rising wedge pattern and continues to drop. Both MACD and RSI indicators are confirming the pattern as well.
If the current scenario continues, the price might reach levels of 62 or even 54.
In the opposite scenario the price might reach levels of 77.5 and pivot into an uptrend.
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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!
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I do advise practicing caution while trading, especially leveraged products.
Do your own research and never trade what you cannot afford to lose.
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Short crude oil when reboundingBecause the market is vigilant about frequent and more substantial interest rate increases by the Federal Reserve, concerns about the global recession have increased, and the global stock market has generally weakened, which has dragged down oil prices.
On the daily chart, oil prices continued to weaken in the short term, and fell back after the rebound in the previous trading day was blocked, suggesting strong selling pressure above.From the technical structure point of view, oil prices have still been in a wide fluctuation trend in recent months, and at the same time, they have also formed a short-term wedge-shaped consolidation trend to make a transitional market before the direction is chosen.The current support and strong support for oil prices are the 74.3 line on the wedge-shaped extension cord and the 72.3 line on the extension cord of the shock box below. The resistance above the short period is at the 76.5 line, and the stronger resistance is at the 77.6 line at the intersection of the short-period moving average and the Bollinger band.
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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
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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.
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
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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!
Oil prices have stopped falling, and the bulls are back?Crude oil was suppressed by fundamentals and high pressure. Yesterday, the daily line fell all the way, and finally the daily line closed the negative line. Crude oil currently continues to maintain a wide range of oscillations on the daily line. The 4-hour level trend is also after a continuous decline. The current deviation rate is slightly too large, and the technical patterns on the small-cycle trend are also beginning to be gradually repaired, and there is a high probability that there will be some room for rebound and repair in the short-term trend.On the news side, short-term attention will be paid to Powell's further remarks and EIA data within the day.
Operationally, crude oil is recommended to be short at 78.3, below the target of 76.6.
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TVC:USOIL TVC:GOLD FOREXCOM:XAUUSD
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.