Energy commodities are mostly hard commodities that are mined or extracted. They include fossil fuels like Coal, Oil (in various blends and grades) and Natural Gas. The price of these commodities is one of the most watched economic indicators by traders, economists, governments and businesses given the correlation between economic growth and energy consumption. Their price is influenced by global economic up- or downturns, by production cuts or increases and by emerging green energies. Their price influences other commodities since it takes energy to produce them.
Energy commodities are widely used in industrial applications and they drive inflation, which makes them an effective hedge against it. You can trade or invest in energy commodities through futures contracts, options, exchange-traded funds and stocks of companies in the energy sector. Oil is the most widely traded commodity worldwide and the Oil room is one of the most popular custom chats on TradingView. We also have an active Natural Gas room where traders talk in real-time about where the market is going.
In my previous call for shorting the crude for a target to 61.94, I was short at 66.94, banked half position at 63.89 today, but I am wary of the momentum to be turning around-which i quite likely signalling a reversal to be setting up. So I am looking to buy setups here but i need to wait for the correction before I put any order in. Keep an eye on this market. ...
Hi traders,
I hope you enjoyed your weekend and I wish all good trades for this upcoming week.
For this week, I am looking at a potential short-term trade to the downside in Oil. Oil broke the rising trendline last week to the downside and retested it nicely and fell back lower.
With lower lows and lower highs in progress. It should continue its weakness. ...
Price retrace back to 50% fib and wP
Be careful OPEC meeting on friday
Iran is babbling that they will not increase oil production which probably pulled price up however i think it's irrelevant what mullas want
Here we publish signals of the indicator called “Ranger”. It was developed by our experts for intraday trading purposes.
This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities.
What does this information give to the ...
I hope not :p
Wish I left more in XD
Feels like it is never going to stop going down.
Next time...
I do not even know where I should close.
Let's see what happens when it tests that low at 0.74123.
I can use it as a hedge so maybe this is what I should do, just keep it open forever as a hedge.
Let's see how well I can perform this week.
My account is at 5600$ ...
These zones are calculated using Fibonacci Ratios of past price moves.
Fib extensions and retracements are projected forward in time and price.
If price bounces or reverses, it will probably do so at one of these zones.
Some zones will match previous highs and lows, since Fibs are derived from the extremes.
Some zones will not match anything previous, but they ...
USOIL weekly overview
As we see on chart price bounced down from key sell zone $66 — $67. Also, 2 weeks ago OPEC announced that they increase OIL production. We have a technical and fundamental reason why it should move down.
For me the best place for open Short is near $65 — $66 zone.
The long-term goal is $59
P.S. Also if you take a look on all currencies ...
All I have to say is I would not risk betting against the US dolla :p
https://www.tradingview.com/x/JvEU9z8c/
https://www.tradingview.com/x/gpkHYYx0/
USDCAD ... Nothing stopping it...
CAD might lose value against other currencies even.
https://www.tradingview.com/x/3scbZDDL/
GBPUSD has bounced, a sign that others will ...
"At the meeting Vienna, Opec members will debate whether to lift the 18-month-old production cap to stabilize prices"
All information on chart.
Comment your questions.
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
Crude oil broke below long term support (white) and we see the healthy pullback in the making.
This move shaped the favorite Bear Flag pattern with a Low Risk / High Return potential.
Wait to sell on the breakdown.
Target area is set within the orange box per Fibbo levels.
I guess it's 5 of (1) in terms of EW.
Take care!
The red arrow is the next target, I believe. The long term target, I have posted it at the "Monthly Wave Count for Crude Oil" analysis below.
These are just probabilities. It might go higher/lower than I've forecasted.
