Petroleum

PBF | Continued stock growth - Timeframe: Weekly - Trade type: Buy stop order - Price: 75.68 - Take Profit: Open - Stop Loss: 69.25 (-8.50 %) Idea: Long on a breakout above last week's high - bullish momentum continuation. Entry: Buy stop above last week’s high. Stop-loss: Below the low of the same candle. If the weekly candle closes below this level, the trade is invalidated.

Parabolic Energy Expansion Meets 127.2% Fib Extension Resistance 🛢️HF Sinclair Corporation (NYSE: DINO) has staged an incredible vertical surge in 2026, climbing from its early-year structural low of $46.06 to print fresh all-time highs near $103.99. However, price action is now wrestling directly with a major Fibonacci extension cluster while printing classic upper-wick exhaustion candles on the daily timeframe. 1. Market & Fundamentals Context 🌐 * Refining Sector Drivers: Energy refiners have enjoyed exceptional crack spread margins and robust earnings

by SoloTraderAU

Extended Momentum vs. Candlestick Exhaustion 🛢️ Marathon Petroleum Corp. (NYSE: MPC): Extended Momentum vs. Candlestick Exhaustion Marathon Petroleum Corp (MPC) has experienced an explosive trend run throughout 2026, driven by elevated refining margins and consistent fundamental tailwinds. However, price action on the daily chart is now showing classic signs of tactical exhaustion right as it tests major Fibonacci extension expansions. 1. Market & Macro Fundamentals 🌐 * Fundamental Divergence: Recent industry reports note political press

by SoloTraderAU

BPCL: The Real Breakout Is Yet to Come!BPCL Breakout Alert BPCL has given a pattern breakout above ₹320, but the major Law of Polarity resistance remains at ₹340. Key Levels: Pattern Breakout: ₹320 Major Breakout Confirmation: ₹340 A sustained breakout above ₹340 can unlock the next bullish momentum, with the pattern target placed near ₹387. Strategy: Hold existing positions. Fresh buying is preferable only after a decisive breakout above ₹340. Targets: ₹340 ➜ ₹365 ➜ ₹387 Educational purpose only. Trade with proper risk m

by trailingtradesc85cd5c9f87345fb

Play on Levels as discussed in Yesterday's Video, 720 is the resistance level. it resisted exactly from this level. Now Support lies around 700 - 702 & then around 677 - 679 If 725 is Crossed with Good Volumes, we may witness 800.

by House-of-Technicals

Will UKOIL continue its decline?The U.S. Energy Information Administration (EIA) announced that global oil demand will reach a higher level this year, while noting that the increase in production will be lower than previously forecasted. Additionally, the EIA reduced its price forecast for Brent crude oil in 2024 by 2.4%, from $84.44 per barrel to $82.80 per barrel. As a result, Brent crude oil prices fell to the $70.0 level. Technically, if the 69.30 support level is broken, further declines toward 67.50 and 65.60 are possi

"USOIL is going downward"The weakening labor market has reduced risk appetite in the markets, triggering a drop in crude oil prices toward the 67.50 level. Additionally, OPEC+'s crude oil production in August decreased by 300,000 barrels due to declines in Libya and Kazakhstan. However, ongoing supply concerns continue to pressure the commodity. Technically, if the 67.50 support level is broken, further declines toward 65.55 and 63.55 are possible. On the upside, if the 70.0 resistance is surpassed, buying momentum co

USOIL : Weekly Technical Analysis Hi Traders! Crude oil prices declined on Tuesday due to demand concerns driven by weak economic growth in China, the world's biggest crude importer. Brent crude fell 1% to US$76.77 per barrel and West Texas Intermediate crude lost 0.1% to US$73.50/b at last look early Tuesday. Demand concerns offset impacts of the production and export halt at Libya due to a political dispute, Reuters said in a Tuesday report. China's purchasing managers' index hit a six-month low in August and new home prices g

by TheAnonymousBanker

Macro Monday 56~Venezuela - Democracy Beacons Economic Reform Macro Monday 56 Venezuela - Democracy Beacons Economic Reform As one of the core members of OPEC, Venezuela holds the distinction of having the largest oil reserves in the world with over 304 billion barrels beneath its surface. This is marginally more than the Saudi Arabia oil reserves. If you ever wondered where the largest oil reserves in the whole world where, they are located on the Orinoco Oil Belt in Central Venezuela. Unfortunately Venezuela has suffered from political and econ

Energy Stocks: Macro Fib Schematics This idea beholds 6 of the largest Energy companies in the world. (Shell, Chevron, Exxon, BP, Duke, and OXY Petroleum.) These macro schematics have been crafted through meticulous Fibonacci techniques. I've laid every one on a 3 month timeframe starting at 1988. History buffs will understand the time reference to the rough "start" of Middle Eastern conflicts from the West and the rise of the price of "fossil fuels". I'm not begging anyone to understand this genius mastery of Fib tool

IMPP: Potential Bullish Consolidation In Certain Shipowners With BDRY (The Baltic Dry Index ETF), finally going up, we may start to see more shipper stocks go up. We've already started to see an uptick in SB, GASS, TK, and TNK, now we might start to see some action across the entire sector. I still would want to focus on those that are giving us at least a somewhat decent pattern, and IMPP in this case is both cheap and has potentially formed a Double Bottom with Bullish Divergence above the previous level of resistance. Given that it focuses on Oil an

Crude Oil Review and Forecast API Actual: 9.047M API Consensus: 1.467M EIA Crude Import Actual 0.259M EIA Crude Import Previous: -0.385M EIA Crude stock Actual: 8.701M EIA Crude stock consensus: 1.160M As Saudi Oil production had shrunk to nine million barrels per day in July since its last OPEC meeting with Russia to restrict supply amid signs of weakening global demand in slowing economy, Saudi, the largest oil supplier in the world had expressed its opinion on keeping the production to remain low unt

IMPP Imperial Petroleum Options Ahead of Earnings Analyzing the options chain and the chart patterns of IMPP Imperial Petroleum prior to the earnings report this week, I would consider purchasing the 2usd strike price Calls with an expiration date of 2024-1-19, for a premium of approximately $0.20. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.

Occidental Petroleum formed 2 strong bullish patterns In the last few months we've seen two bullish formations. W Formation first and recently a Cup & handle. The price has broken above the neckline and brim level, and now the price seems to be retracing to a conservative level of entry. With the higher lows and clear signs of demand, it looks like this market is poised for growth. 7>21>200 RSI>50 - Higher lows Target $80

EPM Evolution Petroleum Corporation Options Ahead of Earnings Analyzing the options chain and the chart patterns of SEPM Evolution Petroleum Corporation prior to the earnings report this week, I would consider purchasing the 12.50usd strike price Calls with an expiration date of 2024-1-19, for a premium of approximately $0.12. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.

US Oil - Last downward leg- Pt.2- About to become impulsive?Hello traders, in our previous posts about oil we highlighted how we expect cycle wave 2 to complete around the 57-63 area with the final C wave of the corrective structure. We then showed how we applied leading indicators to obtain confirmation of more downside: . We entered at the golden zone (61.8%fibo) strong volume rejection. We are short from @78.18 aiming to ride the microcount outlined in the chart. Stop loss on entry as per the update in previous post. Cheers GMR

CHEVRON The road to recovery is set but will have its bumps The Chevron Corporation (CVX) has been pulling back since the November 15 rejection and is already below the 1D MA50 (blue trend-line) headed towards the 1D MA200 (orange trend-line). As you see the stock has been trading on a Fibonacci Channel since the October 29 2020 bottom and its last two Higher Lows (July 14, September 28) found Support on or around the 1W MA50 (red trend-line). Remarkably, we last saw the very same Fibonacci Channel during the 2010/11/12 period (chart on the right). The

EXXON MOBIL Close to huge bullish break-out but watch this level The Exxon Mobil Corporation (XOM) has made new All Time Highs (ATH) this month, being on a massive +37% rally since the September 26 low and bounce on the 1D MA200 (orange trend-line). Based on a similar 1D RSI occurrence, it would appears that the price is currently starting a pull-back similar to November 10 - December 20 2021, which hit the 1D MA200 and as it has always done since December 2020, it rebounded strongly. This pull-back will be confirmed if the price breaks below the 1D MA50 (bl

Oil Makes Another Attempt at the $90's Oil has pivoted from lows and made another run for the $90's. We have broken through $88.74, and fallen just short of $90.06, the barrier to the $90 handle. A strong rally in risk-on assets has benefited oil. If we are able to continue the rally, we could hit $94 again. If we retrace, expect support at $87.21 or $85.55.

Oil Falls from the $90's!Oil has fallen from the $90's after the rejection from $94 has taken the $90 handle entirely. We fell back to the high $80's, with $87.21 providing support, exactly as we predicted in these reports. Our floor for oil for now, is $85.55. The Kovach OBV is still surprisingly strong, though it has arched over a bit with the selloff. If we can pivot off current levels, then $90.06 is the next target.

Oil Maintains the $90's Oil topped out around $94 after breaking through our target at $92.03. We made a concerted effort for our next target at $95.24, but fell short just below $94. This was a high from the last attempt in early October, and may constitute a double top. We are not seeing a serious retracement, and are still holding the $90's. In order to press higher, we must break through $94 definitively. If support in the $90's does not hold, then $87.21 will likely be a floor price for now.

Oil Regains the $90's As we have been predicting for a while, oil has broken out into the $90's. There are only so many reserves that Biden can deplete in a frenetic attempt to improve his tarnished image before midterms. We have smashed through $90.06, which provided strong resistance and was a barrier for some time. We are currently testing $92.03 which was the exact target we predicted last week. Red triangles on the KRI are confirming resistance here. If we see a retracement we will find support at $90.06 ag

Oil Facing Resistance at $90 Oil has edged higher towards the $90's. We still haven't quite been able to break that threshold just yet, with a rejection just now at the time of this writing just below our level at $90.06. We are seeing red triangles on the KRI at this level. The Kovach OBV has picked up, so we will see if momentum can break us into the $90's, but so far $90.06 is a barrier. If we can break through, then the next target is $92.03. If we retrace, then we should have support again from $85.55.

Oil Makes Another Run for the $90's Oil found support at $85.55 exactly as we had expected. We saw a nice pivot after that, which took us back near the $90's. We came just shy of our target at $90.06, where a red triangle on the KRI has confirmed resistance. The Kovach OBV is relatively flat and we will need more momentum to come through for us to be able to solidly break into the $90's. If we retrace, $85.55 should hold for now.