SUMMARY
Lowered demand projections for Crude Oil as per IEA and OPEC+, softer demand for Crude Oil in China despite partial loosening of restrictions as per EY, the G7-Russian Crude price cap which would lower demand for WTI Crude.
We are short-term bearish on WTI Crude Oil. However, it should be noted that there may be very limited downside in price as the...
This is a crude oil series I'm doing as of late.
In this video, I go over the daily cycles, Elliott wave, and some statistics for the month of November.
I will start my December analysis to see if there is any edge to it.
Let me know your thoughts on what you see playing out in November for crude oil.
Crude Oil Weekly Volatility Analysis 12-16 Dec 2022
We can see that currently the implied volatility for this week is around 6.51%, up from 6.33% from last week according to OVX data
With this in mind, currently from ATR point of view we are located in the 83th percentile,
while according to OVX, we are on 77th percentile.
Based on this, we can expect that the...
WTI - All public data releases regarding one of the most traded futures on the financial markets are slightly controversial lately. What we can observe on a 1D chart is leveled bearish channel that is following so far all rules of the systematic bounce of the formed channel, if we don't observe a break below the current level it is likely to see another bounce the...
CL
In past reviews, we showed our priority scenario, the price drop almost led to the $68 level that we indicated as a target. Most likely this goal will be fulfilled by the market. Our scenario allows a pullback, but not above $75.50 - this level cancels the fall scenario. Let's see how the price near $68 will behave.
WTI is trading at major 61.8 fib level.
CAD has positive correlation with oil prices -
Canada is the world's third-largest exporter of oil . At times, the positive correlation between CAD and oil can be over 95%.
JPY has negative correlation with oil prices -
Japan is the third largest importer of oil in the world importing around 78% of its oil consumption, so...
Was reminded today about the volume indicator, and thought this was in interesting pattern in Oil. The price very much likes to be range bound and channel sideways during the low volume periods, offering opportunity to trade as it breaks out up or down. The 30 min chart on Oil really shows the volume spikes early-mid day and they look alot like a heart monitor...
Pull Up condition :
1) CL1! candlestick has come to Level-2 of Raising Stage (point E), beware of retracement or it may go further to Level-3
2) FundFlow+ indicator - smart money still flowing in positively
3) Tricol+ indicator - Banker's sentiment remain above 75% in the last 4 trading days, Trapped fund (turquoise) has gone
Support & Resistance:
S : 83.62...
Im going to try and identify the daily ranges of Light Crude and the price swings based on fundamentals, the supply / demand curves can be drastically effected by gov. policy both domestic and foreign. I believe North American governments are pushing their economies onto the edge of recession. This will obviously push Oil lower. However i think their will be...
Preferably suitable for scalping and accurate as long as you enter carefully the price behavior with the drawn areas.
With your likes and comments, you give me enough energy to provide the best analysis on an ongoing basis.
And if you needed any analysis that was not on the page, you can ask me with a comment or a personal message..
Enjoy Trading... ;)
Preferably suitable for scalping and accurate as long as you enter carefully the price behavior with the drawn areas.
With your likes and comments, you give me enough energy to provide the best analysis on an ongoing basis.
And if you needed any analysis that was not on the page, you can ask me with a comment or a personal message..
Enjoy Trading... ;)
The markets are getting very difficult to trade in many cases. One typical way for me to look at markets that are becoming more difficult is to look for a contraction in the market, contraction is not one simple thing, or change. In addition, patterns develop, and these can help us to change our perspective and make better trade decisions. We will look at a...
Oil has recovered the trendline. and stayed above the false breakdown zone. Above the box oil is price action leans bullish. Below not so much. Important to watch as energy is big component of CPI.
Also energy stock have remained very strong despite the oil sell off.
$77 seems to be a price point for both bulls and bears on the 30m chart, looking to buy and set TP at roughly that point. Market looks at little over sold to me ahead of the BoC rate announcement and next weeks Fed announcement. There is also an upcoming Opec+ meeting that I'm excepting to push prices back up to the $80 range if even for a short time as they try...
