Crude Oil Trading in Parallel ChannelCrude Oil Trading in Parallel Channel, possibly crude oil can touch the lower line of Parallel Channel and the Levels are 6349Shortby narangsantosh870
crud falling with head & shoulder patternrsi falling bellow 50 DIplus try to crosing down DIminus volume increses in selling BUT ONLY ONE INDICATOR israel-philistin WAR SAYs ' NO '🙌 🤣🤣🤣🤣🤣🤣🤣🤣 haa haa Shortby SANTOSHKPAWARUpdated 116
Oil Price Takes Out August LowThe price of oil takes out the August low ($77.59) after failing to defend the opening range for November. Crude Oil Outlook The price of oil trades to a fresh monthly low ($77.47) after struggling to close back above the $82.10 (50% Fibonacci retracement) to $82.60 (23.6% Fibonacci extension) region, with the move below $77.80 (23.6% Fibonacci retracement) opening up the $75.60 (38.2% Fibonacci extension) region. Next area of interest comes in around $70.00 (50% Fibonacci extension) to $70.60 (61.8% Fibonacci retracement), but the price of oil may attempt to track the flattening slope in the 50-Day SMA ($86.39) if it holds above the $75.60 (38.2% Fibonacci extension) region. Need a move above the $82.10 (50% Fibonacci retracement) to $82.70 (23.6% Fibonacci extension) area to bring the monthly high ($83.60) on the radar, with the next region of interest coming in around $85.70 (38.2% Fibonacci extension) to $86.60 (38.2% Fibonacci retracement). by FOREXcom2
CL1 - Did The Dominant Trend Resume? 🧐Oil has become very bearish since $94 and to remind; that was just beyond the 1:0.618 Golden Window and long term trendline which was our topping target (see linked idea). We had also considered that it may get up to the blue long term retracement Golden Window @ $96, but the 1:0.618 that was just shy of that price area captured the top. There may be some significance to this because any ratio shy of the 0.618 could be a clue that the retracing wave is a connective wave to see a third wave down, potentially to find new lows. And so with oil looking very bearish here the question is whether a recovery is coming or the dominant trend has resumed here to go lower. Retrospectively the short setup we took may have actually been that of a higher time frame pivot. And as we looked at in a previous video, the choppy contraction pattern proved to be a connective wave to go lower and as it did tidily hit the 0.618 retracement, the opportunity was there to re-fire another short. And now you can see retrospectively that our take profit price was just before connective wave bounce Today oil is printing a very bearish candle and there are a lot of liquidity landmarks in this area: the long term trendline, 50WMA 200DMA that oil has now crossed, and just below is the 1:1 extension Golden Window and the blue retracement Golden Window. So very soon we should gain a better understanding of what will happen next with oil. If it is going to hold this area it does need a hard bounce soon 🧐. Not adviceby dRends357
Oil - Bulls Will Be Totally AnnihilatedIn early September, we made what turned out to be a pretty accurate call on crude, predicting that $95~ was the target. CL WTI Crude Oil - Getting In Sync With The Market Makers In July, after analysis, I predicted that the target for crude in the intermediate term is actually a 3-or-4 handle, based on reading the tea leaves of yearly bars. Oil - A New Long Leg Down Soon Begins There's all sorts of fundamental reasons, one will say, that mean there's NO WAY oil should go down, so much! It should go up, because reasons! And I think that is true. I think we're going to see $150 or $200 crude in a future that isn't very far away. But before that happens, since oil has failed to continue upward momentum, the entire previous range from the Russia-Ukraine War has been traded, and the year has mostly been flat-red, it seems to me pretty obvious that the MMs are going to be MMs and go dumpster some long-term longs. Which means we have a target of $56 before the end of 2024, based on monthly candles: It's only that I think $56 won't be "the bottom," they'll drive it lowerer for longerer and make energy bulls and equities bears hate their life, before the real fun starts, because that's how big accumulation happens. Super high prices is almost always preceded by super deep selling. Producers get net short. Before they get net short, it takes some time to get net long, and even though you may not see that in Commitment of Traders, the big oil companies have entire floors of their headquarter buildings devoted to trading, a lot like a bank. The Black Swan of Black Swans, though, that can spoil everyone's fun plans, is the Chinese Communist Party and Xi Jinping's tenuous grip on power and reality. I've said in virtually every post that the CCP is going to fall in our lifetimes. It can fall in one of two ways: 1. Xi Jinping goes Gorbachev and throws the evil Party away, saving China and himself 2. Xi Jinping is strung up as the head of the evil Party, goes down to Hell with the CCP, and something else replaces it What's at stake for Xi is not only the CCP's boundless crimes against humanity and the ruination of China's 5,000 year Heavenly Dynasties, but the eternal sin of the 24-year organ harvesting and genocide against Falun Dafa's 100 million students. Although that persecution was started in 1999 by former Chairman Jiang Zemin, who died, because Xi is the leader of the CCP, he'll inherit the crime and face the same Sepulcher, unless he can throw the regime away like the man he ought to be. When the CCP finally falls, whether it's because Wuhan Pneumonia dropped more than former Premier Li Keqiang, or because Xi dumpsters the Jiang Faction and the International Q Cult that's made itself a particle of the Red Dragon, everything is going to be bigly gap down on a Monday morning. Stuff like the price of oil may seriously moon, however, because the world society's electricity, heat, and transportation relies entirely on fossil fuels. And so all dumps on commodities may sharply truncate and reverse seemingly without cause, all equities rallies may sharply truncate and reverse seemingly without cause, and so the risk is enormous. Trading in these markets in the next 6 months is going to be like playing with fire or gambling your fingers near a really sharp knife. Never forget this point: a knife just cuts. A knife doesn't care who or what it cuts. It just cuts. If you don't want to lose your fingers and your hands, don't put your fingers and your hands under a knife. Once they're gone, there are no miracles to bring them back. The way it's looked at up high is that, in reality, you made the choice to put your hands under the knife, and so when it cuts what should be cut, it cut what should be cut, and that's your own problem caused by your own pursuits. Be careful.Shortby LordWrymouthUpdated 1123
Change of character to be down trend ? No!!I don't think WTI oil price become down trend in war situation on 4H chart price is on demand zone AB=CD bullish pattern is used in this trading entry Maybe this is another loss because I don't wait for reversal candle to confirm If price cannot stand in this area it will change of character to be down trend but I think in this kind of situation WTI not likely to become down trend RR 5 is very decent and passible for this trade Longby tofinse0
CL1! Crude Oil Day Trade 7-Nov-2023TRADE DIRECTION: SHORT; as indicated by the 4H-EMA 50 (yellow line) and the market structure. KEY LEVEL: Round numbers S&R with 50 ticks range between each level. TRIGGER SIGNAL: Doji and bearish pin bar (red arrows) with price failed to close above 79.50. RR: 1:1 SL: 100 Ticks TP: 100 Ticks (achieved)Shortby TheDemonTrader0
Oil 2023 Bearish Bets and Bullish HopesAfter reaching its recent height of $95 a barrel later in September. Crude oil has been on a downtrend since and is currently just below $80 a barrel. There are a lot of factors weighing on Crude oil such as weak Global demand, inflation, and tensions in the Middle East. My Self as well as other institutional traders have not changed our price target for Crude oil to reach $100 by early next year. Today we will look for levels of support for crude oil since it is currently in a downtrend. On the Daily Chart, we see a head and shoulder pattern that started around $68.We can see that the market clearly broke the neckline and is showing more momentum to the downside. We get a target of $70 to the downside is the head and should pattern plays out ideally. The distance from the head of the head and shoulder pattern to the neckline is the same distance from the break of the neckline to the last Take profit target when trading the head and shoulder pattern, this is market by PRZ#3(potential reversal zone). PRZ #2 @ $74 From the height of $95, the market made a lower high of $90 a barrel and failed to create a higher high. This was an indication that the bullish trend has now turned bearish. The Market got rejected at the 6.18 @90 and then headed down. By drawing the AB|CD pattern we see that area around $74 we see that as a good price target for the down movement. We also see the completion of a 5-point retracement pattern at this point. In Addition, the 6.18 extension is just below $73. PRZ #1 @ $77 This is a 6.18 retracement for the $95 highs from the $66 lows. This happens to be a good support area with multiple rejections. Even if there might not be as many technical factors as the other price zones, we need to mark it out so that we can see early price rejection. I have outlined important price zones I will be monitoring as the falling oil prices continue. It is also important to understand that due to the War in the Middle East, oil prices can be affected since oil-producing countries are involved. There is a decrease in supply and we are seeing close to Pandemic lows, in terms of oil production. OPEC has maintained oil cuts for the rest of the year so there is clearly a demand problem. by Voice_of_the_Cryptos0
CL1! Crude Oil Day Trade 6-Nov-2023The price seems not able to close below the 81.00 level. The 5 green arrows showed that buyers keep on pushing the price upward. As a Day Trader, this is an opportunity for a counter-trend trade, because it is obvious that we are in a downtrend at the 4-hour chart. TRADE DIRECTION: Long KEY LEVEL: 81.00 TRIGGER SIGNAL: Bullish pin bar (yellow arrow), supported by other bullish reversal candles (green arrows). Entry: 81.00 Stop Loss: 80.00 Profit Target: 82.00 (100 ticks of profit achieved) Risk to Reward Ratio - 1:1 Longby TheDemonTrader0
WTI TO 78.23$WTI Oil is going down to test 78.23$ level. We will wait to reach target then take another look. Follow to get next signal.Shortby Trader_Manager0
OIL daily chart breakout and push to the psychological $100OIL is testing this key trendline right now, and I'm watching to see if it rejects or breaks higher. I'm leaning towards breaking higher with a the psychological $100 number as my target. Longby Jon4th4nB1rdUpdated 2
#CRUDEOIL UPDATE 📆 3rd NOVEMBER Resistance: 6900, 7080 Support: 6750 Moving towards support 6750 BMI suggests that prices are fluctuating due to the conflict-related supply risks and concerns about a slowing global economy impacting demand. There's ongoing worry that Iranian oil output could face sanctions, potentially reducing supply in an already tight market.Shortby Shalvisharma59
Oil, where are you headed? This week our eyes fall on the crude oil market. From our previous article, Cracking the Crack Spread , we know that crude oil and gasoline hold a special relationship. Since gasoline is extracted from crude oil, the spread between the two futures should not diverge too much. Yet, in the past few weeks, we have observed a deviation in their prices with the Crude Oil/Gasoline ratio peaking. Futures Fundamentals Open interest refers to the number of open contracts in the market. It serves as a measure of liquidity, activity and more importantly, interest in the security. While trading volume refers to the number of contracts traded each day. The decline in both prices and open interests indicates the liquidation of long positions. Together with a low trading volume, this can indicate a bear market. Economic Outlook Although the federal reserve (Fed) is likely done with its hikes in this hiking cycle, it intends to keep interest rates higher for longer. Coupled with continued tightness in the labor market, sticky inflation and inflating cost of debt, growth would be dampened. One way to back up this view is to look at the US Purchasing Managers’ Index (PMI). The PMI is widely used as a leading indicator to anticipate changing economic trends. Furthermore, there tends to be a positive association with PMI and commodities year-on-year change. Given the latest PMI value, it points to a negative economic outlook, with year-on-year crude oil prices playing catch up. It is good to be mindful that if the Fed has indeed concluded its hiking cycle, there is a greater likelihood for the dollar to weaken rather than strengthen. As crude oil is quoted in USD, a weaker dollar would lead to a more expensive contract. Therefore, there are upside risks to crude oil prices. Supply Factors US crude oil production reaches record high levels. In conjunction with other non-OPEC countries’ record production, they have been upholding the supply despite facing cuts from OPEC. This could possibly explain why oil prices fell on Oct 4th when OPEC confirmed its cuts until the end of the year. However, we also see the number of oil rigs in the US on a decline, which may hinder any higher levels of production. Also, there is the debate whether production from non-OPEC countries will be outpaced by OPEC’s cut, leading to the materialization of a supply deficit. Volatility Historically, the energy sector is known for its volatility. In comparison to the S&P 500, crude oil appears to be more volatile. In the chart above we look at the maximum year-on-year change in the S&P500 and marked that range on the year-on-year crude oil prices. Here, the wider range that crude oil trades becomes much more obvious compared to the S&P 500. This effect could likely stem from the fact that oil, unlike equities, is affected by a myriad of complex factors at any given time, from supply/demand to geopolitical, environmental and many more. Gold and crude oil tend to be positively associated. Rising oil prices place upward pressure on inflation leading to precious metals to appreciate as investors flock to “store of value” assets. Other than store of value, gold also acts as a form of safe haven asset, where investors take shelter in gold against uncertainty. With gold now trading significantly higher than oil, it appears that markets are expecting higher levels of fear and uncertainty, which could translate to higher volatility in oil. So where is oil heading? Here we find ourselves in a limbo, considering potential breakout risk from geopolitical tensions the downside risk from the likely turnover of the economy, a fading PMI pointing to oil weakness, and overextended oil prices when looking at the spread complex with gasoline. In times like this, when risk could extend on either side, a long straddle options position could allow us to harness profits in the event of a volatile move, in either direction. To express our view, we can set up long straddle position by buying one at-the-money call and put option that expire in Feb 2024. Given the last price of CLZ3 is 82, we will purchase the two options at the strike price of 81.50. The premiums for the call and put options are 5.39 and 4.89 points respectively. In total, our premium would be 10.28 points. As a rough gauge of the potential for profitability, it might help to look at the volatility in oil prices. For the selected strike, ignoring the effects of options Greeks, the price on expiration would have to move roughly 12.7% in either direction. In the chart above, the bottom figure shows the rolling 3-month change in oil prices, with the red band marking the 12.7% higher & lower range. Here we see oil continually swinging past this level, highlighting the potential for this strategy to play out. In this setup, it should also be noted that the maximum loss on the position is the premium paid on the initial setup, which is 10.43 points. The breakeven levels are above 92 or below 71 on option expiration day, as seen in the chart above. Each 0.01 point move in crude oil options is for 10 USD. CME also has a handy strategy simulator allowing you to construct the option strategy and simulate future prices on your position's P&L. Above are two potential scenarios if the price of crude oil remains close to flat on expiration day, or if it trades lower on expiration day, alongside a diagram showing the effect on the option position's P&L. The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A full version of the disclaimer is available in our profile description. Reference: www.cmegroup.com www.cmegroup.com www.cmegroup.comby inspiranteUpdated 9
Crude Oil Forming Flag and Pole PatternCrude Oil Forming Flag and Pole Pattern 15Mins TF, If Crude oil Breaks and sustain the level of 6910 then possibly we can see 6951 and 7042 Levels..Longby narangsantosh870
CRUDE OILPreferably suitable for scalping and accurate as long as you watch carefully the price action 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... ;) Longby sepehrqanbari5
Crude Oil Box BreakoutCrude Oil Box Breakout, Crude oil is heading to 6851 Levels, sustaining above this Crude Oil Might Touch 6871 & 6927 Levels..Longby narangsantosh876
#CRUDEOIL UPDATE 📆 2nd NOVEMBERResistance: 6807, 6900, 7080 Support: 6750 CRUDE cost remains uncertain and depends on a variety of factors. 👉In the context provided, factors such as technical influences, Federal Reserve decisions, geopolitical tensions, and demand uncertainties all play a role. In short, we are waiting for one positive news that could lead to a hike in the price.Longby Shalvisharma56
Crude Oil First Target Achieved Crude Oil First Target Achieved As per Cup and Handle Pattern, you can check my previous post..Longby narangsantosh872
Crude Oil Forming Cup and Handle Crude Oil Forming Cup and Handle at 15 mins Time Frame, Breakout Level is 6810 if it Sustained above this level then it might touch 6851 and 6880 Levels Longby narangsantosh870
OIL H&S CONFIRMEDCrude Oil has been forming a Head & Shoulders pattern and it has now been confirmed! I can see oil heading to the $70 area. Simple and Clean Analysis! Happy Trading!! ⚔️ Follow my account for more posts :)Shortby ray3spinoza224
Micro Crude Short4hr chart is down 1 hour chart is down supply zone on 15 min chart is inside of the 4 hour TrendCloud This is worth a 1% risk on your stop loss for a 2:1 target. Shortby thechrisjuliano0
CRUDE OILPreferably suitable for scalping and accurate as long as you watch carefully the price action 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... ;) by sepehrqanbari3
WTI wave analysis fundamental still bullish in war situation so we bias to buy In my view new 1-2-3-4-5-A-B-C cycle is happening wave 1 is leading diagonal (this is very clear) by Elliot wave rule wave 2 cannot go down below wave 1 So we use this rule to set our set set up with 2 RR If wave count wave right price should not go below wave 1Longby tofinse1