As you can see oil has got out of sync with the trading range, as you can see it happened 2 times before in this range and both time it was a reversal signal. Now we have the same situation again and also the price is nearing a nice support. ADX red line slowly starts to fade with green going up slightly and Stoch is close to a bullish cross over. So indicators...
oil Trading around 45.9-46 level where strong support level 45.7 where also its strong demand zone.
Advice to buy in range of 45.9-45.3 sl 44.5 TP 48
use small lot
May is the month where OPEC and Russia meet once again to discuss an extension of the supply cuts. This creates a bull euphoria in the market, which combined with the technical indicators can make oil rocket to a (minimum) price of $55 (previous DCH). The 10DMA started curving upwards, whereas the RSI has a lot of room to move to the upside. Furthermore, volume...
I am currently long oil - however, it seems like she got to the 200 day MA and can't quite get the strength to close above it. If she does close above the 200 day MA (red line) it'll likely be above the 50 day MA as well and I will maintain my buying positions. If it closes above the 200 day MA and can stay there for a couple of trading sessions I'll open an...
Oil News alert
OPEC, non-opec Oil producers considering extending global supply cut for nine months or more - sources in OPEC
this news can make oil 47.5-48 Strong support 45 if breaks 48 then next 50 level
Where usdcad can drop toward 1.3450-1.35
Oil Trading around 48 level we can see 47 Level is very Strong As Technical and also seems strong demand zone.
And Api also Showing Oil Demand more then Supply around 4.15M. So it can also good news for oil as Fundamentals.
If oil hold above 46.7 level we can see a jump toward 50-50.5
Advice to buy in range of 48-47.3 sl 46.7 TP 50
Saudi Oil minister and Azerbaijan's energy minister agree to support global Oil output cut deal
Saudi Ministry
This news can push oil up and demand also more .
Oil can support from current price 48.67 or from 47.9 toward 50-51
Oil is hugging the 200 day MA pretty well - The MACD still shows downward movement, however the stochastic is saying to get ready for a change perhaps and the RSI is showing signs of some exhaustion. I'd expect some more sideways movement in the range of 49.30 to 50.10 - but eventually I'm looking to go long again.
Bullish signals include:
>Steady demand
>Global inventory declines of 72m since January
>Capex slashed year over year since 2015
>Potential for output cuts to come
>Instability in the middle east
>Rising marginal cost of production.
Oil seems its done its bottom now if its hold above 47.5 we can see a corrective move toward 50-51 level also news of
Kuwait Oil Minister says
Data so far is "very positive" on oil cut compliance. We support extension of global oil supply cut after June because it will "speed up rebalancing" of market.
Advice go long in oil buy cmp 48.5 next 47.7 sL 47 Tp 51
Hello Traders,
In this short weekly outlook it is not about any trading setup rather than an opinion if Trump’s infrastructure plan will influence the direction of Oil prices in 2017 and beyond?
First, if we look at the US Oil price we can basically see three phases so far. We will start back in 2014 as oil prices started to plump massively in Q3 of 2014 from...
