The dump of the crude is faster than I excpected and the price is below the 12$. The cost of the oil production per barrel for Irak, Iran and Saudi Arabia is 10$ and below wich is the cheapest in the world (Saudi 8.90$). With all the economy troubles what do you think that this dump affect in the world?. The truth is that we dont see these price since the 90s and...
The WTI broke all the supports, the 20M BPD wasn't enough and the market is discounting this. I expect more sellers and a touch of the support at $12 From there, the price should go to at least 17/18 $12 a petrol barrel is a long term gift, the same price of a papa john's pizza
Crude oil futures fell, with U.S. futures touching levels not seen since 1999, extending weakness on the back of sliding demand and concerns that U.S. storage facilities will soon fill to the brim amid the coronavirus pandemic. Price crashed over lower support of trending channel and its now placed on long term support which goes back to 1987, 1990, 1996 and 2000...
Oil drop to downtrend channel bottom. Bear candle is weakened 1 day candle shows support . Buy oil now TP1 - 22.05 TP2 - 26.00 If you reach TP1 take half profit first then keeping your position.
Good morning guys CRUDE OIL (WTI) is at KEY HISTORICAL LEVELS , this is a life time trading opportunity and should not be missed for any reason for swing trade. i am dollar cost averaging from this price point . Use low leverage and trade with proper risk management. thank me later. Good luck guys
While WTI OIL is making new lows, Bret OIL stopped its descend and is consolidating in the 28 old resistance area. I believe next week will be one of gains for both WTI and Bret and I'm looking to buy Bret OIL for a retest of 35-36 resistance. Also, a buy trade can have a comfortable 1:3 risk: reward ratio.
Many Reasons behind Oil continues dropping After OPEC cut Production. 1- Oil should stay above 20$ after Deal Cut, but look like price war still going on. 2-Demand is very low at the moment all over the country because of lockdown and Economy under the shutdown. Coming weeks expecting Oil will do big correction upside end of April to mid-May, but before...
West Texas Oil looking for a double bottom off the back of the Opec production deal - Target is around $37
Oil is trading sideways on the 1H chart (RSI = 47.613, MACD = -0.080, ADX = 28.589) as it is consolidating on the 19.20 Support. The MACD on the 4H chart just made a bullish cross and if the sequence of March 31 is repeated then we can have a rebound towards the 29.20 Resistance. That would however break the 4H MA200 (orange trend line) which hasn't been testes...
USOIL Trade Update + Risk Range - 12:37:09 (UTC) Tue Apr 14,2020
Considering adding at these levels to an existing long position. I don't think that the teens will be met. I think $20/bbl will hold. If it doesn't, then it is manipulation of price virtually, as here in Texas the Permian basin is solid and in fine shape compared to Canadian heavy barley getting 4$ bids. I see this is more of a fundamental investment rather than a...
After the decline on Friday, we are in a correction. We're expecting a breakout and a downward movement. Support Levels $ 22.15 $ 21,41 $ 20,65
After an extremely volatile week, WTI found support in 22 zone and the price is consolidating now. I believe this support will hold and a new wave of gains are coming for WTI oil. A clear confirmation comes in with a break of 23 confluence resistance and the price could rise to at least 25 zone