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Usoilanalysis

Crude oil WTI: Downside contained?Oil WTI failed to break over the 50-day moving average during the session on January 3, and sellers returned after the price topped $80 per barrel. This resulted in a rapid drop to $73/bbl, making it an interesting area to assess the strength of buyers on dips once again. Remember that the US is actively purchasing crude oil at 67-72 dollars per barrel range in order to replenish its strategic reserves (SPR), which have fallen to their lowest level since 1983. The level of $70/bbl generated a double bottom between December 9 and December 12, 2022, luring buyers at those prices. In the coming weeks, the market may retest those levels or even hit $69-68.5/bbl (December 21, 2021 lows). In such a case, the RSI may show a bullish divergence since it will not fall as low as it did at the December 9 price lows. Thus, the short-term scenario may still have another leg down, albeit the proximity to the purchasing window may limit bearish pressure. A fresh rise over $80/bbl (the 50DMA and the negative trendline from June to November 2022) would open up new positive prospects towards $84/bbl (23.6% Fibonacci) first and $90/bbl (psychological and highs of November 10, 2022) afterwards.
TVC:USOIL
by Capitalcom
2
USOil | New perspective for the week | Follow-up detailThis is a follow-up video to my previous analysis where we made over 1,000 pips in profit (see link below for reference purposes). Crude oil prices witnessed significant gains to close last week's trading session with approximately 8% growth as Moscow said it may cut oil production to offset price caps on Russian crude imposed by the G7 nations and the European Union. In the coming week, the chances of subdued trading activities are very likely and this might not be unconnected to the hangover of the holidays thereby reducing the liquidity in the market. In this video, we took a look at the chart from a technical standpoint where the $80 level will be serving as a major determinant of price movement for the new week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
USOil | New perspective for the week | Follow-up detailThis is a follow-up video to my previous analysis on the USOil where we closed the week with close to 2,000 pips profit (see link below for reference purposes). Despite the drop in oil prices in the last couple of months to worries of recession, there appears to be some sort of recovery last week as prices climbed to close the week with a 4% growth. Could this be a reflection of renewed activities from China (the world's largest importer of crude oil) after the government relaxed COVID restrictions? Well, In this video, we looked at the charts from a technical standpoint where the importance of the current structure was emphasized as we look forward to trading opportunities from around the confluence at the $74 area in the coming week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
2
USOUSD short … for the week of 19 Dec 2022US Oil (WTI crude) has been steadily making its way to the downside since the past 6 months. This has been a clean downtrend, respecting previous structure for the most part and I do not see any reason why this would change. I am looking for a pullback either to the minor level in the 77.60 area or even to the major level in the 82.00 area. If some bearish price action (on a lower time frame) becomes evident, such an event would provide a good location to join the down trend that is likely to follow. Targets are located at supports at 71.50 and then at 66.50 regions. Always use sound money and risk management and stay patient in all your trades. If you like my analysis, please give it a “thumbs up” and follow me to get even more awesome content. What do you think about this trade idea? Please comment and share your thoughts!!
EIGHTCAP:USOUSDShort
by Trading_Vista
USOil | New perspective for the week | Follow-up detailThe Oil market has been gripped with fear and uncertainty in the last couple of weeks (s) to impose selling pressure as we witnessed a drop of over 1,000pips during the course of last week's trading session. Now that the price cap of $60 per barrel on Russian oil has been agreed upon by the G7 last week; how will the market react or respond to this development in the coming week(s)? From a technical standpoint, this video illustrates how I intend to use the current structure in the market to project a trading opportunity during the coming week(s). Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOTLong
by darcsherry
WTI USOil Setting for Short Trade?FX:USOILSPOT TRADE PLAN INSTRUMENT: USOil TIMEFRAME: DAILY DESCRIPTION Although fundamental drive illustrates that OPEC+ will cut oil production by 2mil barrel a day going forward, our Technical Outlook suggests that USOil Price will continue to fall untill we arrive at 70.00. The current rally appears a sentiment drive. We will look to short the market when price visit a 55EMA with some confirmation to short for completion of Daily Bat Pattern. Updates to follow. Disclaimer Charts are educational not investment recommendations
FX:USOILSPOTShort
by edgeAZFX
4
USOil | New perspective for the week | Follow-up detail3 days into the EU ban on Russian seaborne crude imports, oil producers in Russia are going against all expectations to ramp up production in recent weeks. With the Russian seaborne crude oil import ban around the corner, a potential OPEC+ output cut on the table, and ongoing discussions about capping Russian oil & gas prices, we looked at the charts from a technical perspective in this video to decipher how the recent developments will affect price movement in the coming week(s). Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, and risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
1
USOIL (WTI) - Bullish Bat + Consolidation BreakoutWTI does not look like a bearish heaven anymore. Reasons include: 1- Dropping Wedge consolidation breakout 2- Bullish bat reversal pattern to bolster the claim to expect higher levels and mark the initiation of a bullish reversal 3- Dovish Feds 4- Increased Demand post-COVID Target: Apparently, the current reversal picture seems like trying to approach triple figure price for WTI again. We are looking forward to the target zone as marked in the chart as red box i.e. between $98-110/Barrel. This analysis is invalid if 72-73 range is breached! Best of Luck and Happy Trading! Deploy extra diligent risk management while trading Oil, it is not a safe heaven instrument.
TVC:USOILLong
by Uzi-Trades-Forex
3
USOil | New perspective for the week | Follow-up detailA record number of new coronavirus cases in China (the world's highest importer of crude oil) coupled with the inability of the EU to agree on a price cap for Russian oil Crude prices resulted in a plunge in price as the price fell for a third straight week. From a technical standpoint, it is obvious that price action has been caught within a channel ($93.50 and $87.00) in the last couple of months to emphasize the indecision in the market. However, it is worth noting that the lower timeframes reveal that price action has continued to find lower lows and lower highs in the last 3 weeks to signal a possible bearish continuation in the new week but we can not ignore the possibility of a breakout of the bearish trendline to incite a reversal structure. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, and risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry