November WTI Crude Oil Rejects $92 Today After A Long RallyCLX23 did not like $92 today. Is a minor correction coming? Is it time to get a little bearish for the next few days/weeks to come? Going into winter, should I expect a little demand destruction and orderly technical selling?Shortby WiseguyFuturesUpdated 0
No retrace to the TrapZone ? How long is this LONG move?Bulls Are At It, Offcourse. When do you take Profits though ? Trap Bars are forming Now. price Hasn't Retraced to Green TrapZone for about A week. Retrace Is expected back to Trap Shorts and Shake weak Longs - SOON ! Hourly Candlestick Chart of MCL/ Crude Futures with TrapZone Pro by SnowflakeTraderUpdated 2
Crude Oil, Waiting, hold and longThe inflation is going to bloom. The US reserved oil is depleted and once the government trying to refill it, the price will keep going up. If you already have the position for crude oil, hold it and don't short. If you haven't enter the market. The opportunity is approaching. Waiting patient when it touches the base line, then long it. Wait for it when withdraw back. Longby Gilbert09670
Short oil @ 90.60 with a stop on close above 92.4Commercials are max short and both Large & Small speculators are long. Today looks like a reversal day. Everyone is expecting $100+ www.bloomberg.com "Oil surged to a 10-month high — extending a powerful rally that may rekindle inflation — as supply cuts from OPEC+ tightened the market, with Saudi Arabia’s energy minister shying away from any change in course. Global benchmark Brent topped $95 a barrel for the first time since November, advancing for a fourth day after Saudi Arabia and Russia curtailed production. The tighter market has ignited a flurry of predictions that $100 oil could soon return in a roster than runs from industry heavyweights such as Chevron Corp. Chief Executive Officer Mike Wirth to traditional bears at Citigroup Inc.Shortby abrahamfaureUpdated 0
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
CRUDE going to take a short pullbackwhile going through the price action it can be a pullback to 3rd point. the pink box which is having more green candles can act as support where buyers actullly entered with huge volumes. trade with caution as fall can be faster after a while when bulls loose momentum.Shortby Zakir-Ahmed2
My Opinion on OilSaudi Arabia's decision to cut oil production could potentially have a significant impact on its GDP, given that approximately 80% of the country's revenue comes from oil exports. This reduction in oil production may lead to a budget deficit by the H2 '23. One logical reason behind this production cut is the potential for higher oil prices, driven by supply constraints. The United States, with its Strategic Petroleum Reserve (SPR) at historically low levels (around -60% of its reserve capacity), may be forced to buy that expensive oil. This could be financially advantageous for Saudi Arabia, as it could sell its oil at higher prices in a tight global market. I confidently see oil above $100Longby ssavi0
Crude Oil Sets Fresh 2023 High as RSI Sits in Overbought ZoneThe price of oil continues to carve a series of higher highs and lows to register a fresh yearly high ($91.36), and crude may continue to approach the November 2022 high ($93.74) as the Relative Strength Index (RSI) holds above 70. Crude Oil Outlook The price of oil has cleared the range-bound price action from earlier this month to keep the RSI in overbought territory, with a break above the November 2022 high ($93.74) bringing the August 2022 high ($98.65) on the radar. However, failure to test the $93.50 (38.2% Fibonacci retracement) to $93.70 (50% Fibonacci retracement) area may generate a textbook sell signal in the RSI, with a move below the $86.60 (38.2% Fibonacci retracement) to $87.30 (78.6% Fibonacci retracement) raising the scope for a test of the monthly low ($83.46). by FOREXcom1
crude enjoyed made 91$++ in mcx 7650 near crude enjoyed made 91$++ in mcx 7650 near ---- told abv 90.55 in mcx 7555 it will rock see nowww buyer zoomed yes spot crude 93+++++ expect in mcx 7800++++++Longby kailashcfa331
black goldresistance of trump era turned to support in biden era. 97 would be next major resistance but overall, this is a chart that wants to make new highs. Longby Oppollo2
Crude Oil Short Setting UpCrude Oil is finally looking like it's about to stall and potentially pull back. Back in April, on the gap up, the peak of that Bollinger Band comes in at 91.18. I consider that unfinished business for the bulls. Once that's achieved, then I will look for the daily Bollinger Bands to start coming back in and volatility to start contracting, looking for a mean reversion move in Crude Oil. The bulls have control until those Bollinger Bands come in, so be patient. The move lower may start before that, but it's not about picking the top, it's about executing the next move.Shortby anthonycrudele9
CRUDEOIL (WEEKLY OVERVIEW)CRUDEOIL is approaching a key resistance level at 7713. If it breaks through this level, it could reach new all-time highs. This week's high target is 7675-7725. Traders should watch for a breakout above 7713 to confirm the bullish trend. If CRUDEOIL fails to break through this level, it could retrace back to the support zone at 7625-7650. Overall, the technical outlook for CRUDEOIL is bullish. A breakout above 7713 could lead to a further rally to new all-time highs. Longby Shalvisharma511
WTI 's rally could just be getting startedThe more we look at market positioning on WTI, the more we suspect that oil may be dominating headlines as we head into 2024. In recent weeks we can see that large speculators and asset managers have been increasing long exposure and reducing shorts, which is the ideal scenario for a bullish trend. Yet net-long exposure for both sets of traders remains low by historical standards, and therefore shows no immediate threat of the move higher being extended. If anything, it could look underbought considering OPEC's desire to support prices. And when you consider oil is rising despite the stronger US dollar, you get to appreciate how strong the rally could get if the dollar's rally were to falter. Either way, with a rising US dollar and oil prices, 2024 could get messy and perhaps risk assets will get their reckoning once more. Longby CityIndex5
🛢️Crude Oil Is Up $91.23 In Price⬆️📈The oil price affects the global economy wether you like it or not -- also we have this sad reality that most young people do not want to work in the oil and gas industry -- If i had known this a while ago maybe i would have gotten a job at the filling station or gas station -- But one thing for sure is that this industry offers many jobs for young people -- who have left high school and need some pocket money -- Oil is: -Source of Energy -Used in Cars - Used in Industry Manufacturing -- Oil is a powerful commodity thats why it is this weeks highlight -- Disclaimer: This is not financial advice this means do not buy or sell anything recommended -- here do you own research before you trade -- Rocket boost this content to learn moreLongby lubosi2
WTI: Unstoppable 🚀WTI is riding a robust bullish wave, propelling it to its highest levels in 10 months. In our analysis, we anticipate that, to complete the blue wave , it must surpass the resistance at $93.74. Subsequently, a noteworthy descent is in the cards. It’s essential to note that a dip below $73.89, though with a 38% probability in our estimation, signifies a further decline within the green wave alt. .by MarketIntel0
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 sepehrqanbari3
Oil (CL) Should Extend Higher in Impulsive StructureShort Term Elliott Wave View in Oil (CL) suggests the rally from 6.12.2023 low is in progress as a 5 waves impulse structure. Up from 6.12.2023 low, wave 1 ended at 84.89 and pullback in wave 2 ended at 77.59. Oil then extends higher again in wave 3. Internal subdivision of wave 3 unfolded as another 5 waves impulse in lesser degree. Up from wave 2, wave ((i)) ended at 80.45 and pullback in wave ((ii)) ended at 78.14. Oil extended higher in wave ((iii)) towards 88.07 and dips in wave ((iv)) ended at 86.71. Expect wave ((v)) to complete soon and this should end wave 3 in higher degree. Oil should then pullback in wave 4 to correct the rally from 8.24.2023 low before it resumes higher again. Internal subdivision of wave 4 should unfold in 3 waves such as zigzag structure ((a))-((b))-((c)). Potential target is 23.6 – 38.2% Fibonacci retracement of wave 3. The area can be measured once wave 3 has ended. Near term, as far as pivot at 77.67 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.Longby Elliottwave-Forecast113
OIL continue with the Uptrend ☝️On OIL is nice to see strong buying reaction from the price 88.1, there is nice to see strong volume area.... Where is lot of contract accumulated... I thing that buyers from this area will be defend this long position... and when the price come back to this area, strong buyers will be push up the market again... S/R zone from the past + Uptrend + Volume cluster are my mainly reason for this long trade.... Happy trading Daleby Trader_Dale4
CRUDE OIL LONG-TERM1 or 2? Preferably 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 sepehrqanbari224
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 sepehrqanbari3
CL WEEKLYWE ARE ALWAYS BELOW THE LINE OF GRAVITY. The market after it has not succeeded after several attempts to break an important support. Here he seeks to go for a point higher towards the lineby AMEDAT1
crude mcx update blwtake chnce--- buy crude 7265@--40 sl 7160 tgt 7340--7480+ yes looking spot crude abv 87.55 up side till 89=--90$+++ buy on dipsssLongby kailashcfa33Updated 9