Crude Oil Bull run start thruday 22 to 23 july 2023Hi every one crude analysis Entery 5600 to 5730 Stop 5570 Target 6800Longby paisachapo773
Is Crude Oil Headed to $63?Is Crude Oil Headed to $63? OPEC+ met in Vienna 2 weeks ago and agreed to meet previous 2023 production targets and Saudi Arabia announced voluntary cuts of 1 million b/d for one month, with the possibility of them being extended. This is in addition to the other rounds of cuts. Saudi Arabia tried to calm the markets with an oil price cut, but failed to counter recession concerns that still affect oil prices in the futures market. Shortly after the Silicon Valley Bank (OTCPK: SIVBQ) crash in early March, oil prices also began to fall and have never been able to recover. The main reason is that the US economy has not really generated as much demand for oil as expected. The USA consumes about 20% of the world's oil, but to date the demand does not reach pre-pandemic levels. There are many reasons that have contributed to the reduction in demand, such as more efficient cars, the increase in the adoption of electric vehicles and advances in the energy efficiency of buildings. The strength of the dollar also plays an important role. CL1 Given that much oil is priced in dollars, higher dollar strength can make oil more expensive for non-US countries and, in turn, can help dampen demand. Voluntary cuts cannot be considered efficient because they are short-lived and offer no lasting benefits. Looking closely at oil supplies, the signs look promising. OPEC+ has taken recent steps that will inevitably cause an oil shortage for the rest of the year. According to EIA data, the shortage will reach 350,000 bpd in the second quarter and 1.05 million bpd in the latest quarter. OPEC also claims more bullish numbers, going from about 500,000 barrels per day lower in the second quarter to 2.64 million barrels per day in the latest. If demand does not drop dramatically, the market will still suffer from a deficit. Analyzing oil drilling it can be seen that the supply of oil will continue to remain low. There have been 4,863 oil wells drilled but not completed in major producing regions of the United States, according to a recent report from the EIA. While that may seem like a high number, it's actually the lowest since 2014. Technical analysis shows that short trends are quite evident: prices are below the short-term moving average. My prediction is that the price of {{8849|crude oil}} will reach $63 in the coming quarters. Author's note: The information and content provided on this site should not be considered as an invitation to invest in the financial markets. The Content is a personal opinion of Dr. Antonio Ferlito. Shortby Antonio_Ferlito2
WTI - BEARRISH OUTLOOKChina's crude oil stockpiles surged in May, adding 1.77 million bpd, the fastest rate in nearly three years. Strong imports and refinery processing contributed to the bullish narrative of increased fuel consumption. However, the market overlooks the potential bearish impact of stockpiling, which provides options for Chinese refiners if prices rise too high. China doesn't disclose specific figures, but an estimate suggests a surplus of 1.77 million bpd available for storage. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.by legacyFXofficial0
WTI Light Sweet Crude Oil, 6/20/23A two-sided framework continues through summer between 62.14 long-term support, and 82.33 long-term resistance, both regions able to contain seasonal activity. Downside, a weekly settlement below 62.14 indicates 53.87 within several months, longer term Fibonacci support able to contain selling into later year. Upside, a weekly settlement above 82.33 indicates 94.67 within several months, able to contain annual highs. - For Tuesday, the 67.08 - 67.54 region can contain weekly selling pressures, above which 74.29 remains a weekly target, 76.68 attainable within 2 - 3 weeks. Upside Tuesday, 72.40 can contain intraday strength, while pushing/opening above 72.40 allows 74.29 intraday, able to contain buying into later week. Closing today above 74.29 signals 76.68 within several more days, able to contain weekly buying pressures, possibly into later July. Downside Tuesday, breaking/opening below 70.49 allows 67.08 - 67.54 intraday, able to contain weekly selling pressures and the area to settle below for indicating 62.14 longer-term support as a 1 - 2 week target.by SpecialeAnalysis2
CRUDE TRADING IDEAAs per price action levels are marked in charts. Let's see how the market reacts. Follow our rules. Just take looking for long with strict stop loss. Longby KDMRR5
CRUDE OILPreferably 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... ;)by sepehrqanbari2
WTI Light Sweet Crude Oil, 6/16/23For Friday, 68.29 can contain selling into later next week, above which 76.70 is attainable over the next 2 - 3 weeks. Upside Friday, pushing/opening above 71.30 allows 74.77, likely to contain session strength, and the point to settle above for yielding 76.70 within several more days, able to contain weekly buying pressures when tested. Downside Friday, breaking/opening below 68.29 allow 67.16, also able to contain selling into later next week and the point to settle below for clearly indicating 62.14 as a 1 - 2 week target able to contain broader market selling into later summerby SpecialeAnalysis1
CRUDE OILPreferably 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... ;)by sepehrqanbari224
my ideas check thiscrude oil go for buy the month then my chart analysis my rules your check and watch go for buy tnx for allLongby karthikpalanisamy46062
WTI Light Sweet Crude Oil, 6/15/23For Thursday, 69.12 can contain buying through the balance of the week, possibly resulting in 62.14 over the next several weeks. On that score, a settlement today below 67.16 would affirm 62.14 as a 1 - 2 week target able to contain broader market selling into later summer. Upside Thursday, pushing/opening above 69.12 allows 71.51, while closing today above 69.12 allows 76.59 over the next 2 - 3 weeks, able to contain weekly buying pressures when tested and the region to settle above for signaling 81.85 long-term resistance within several more weeks.by SpecialeAnalysis0
CRUDE OILPreferably 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... ;) by sepehrqanbari2
Short term long Tweezer top at the low in 1D chart. Can push to the 6000 level and then can go downwards . Thia is my perception only. Shortby sahajbaidwan110
WTI Light Sweet Crude Oil, 6/14/23For Wednesday, 69.95 can contain buying through the balance of the week, possibly resulting and 62.14 over the next several weeks. On that score, a settlement today below 67.16 what a firm 62.14 as a 1 - 2 week target able to contain broader market selling into later summer. Upside Wednesday, pushing/opening above 69.95 allows 71.73, while closing today above 69.95 allows 76.48 over the next 2 - 3 weeks, able to contain weekly buying pressures when tested and the region to settle above for signaling 81.85 long-term resistance within several more weeks.by SpecialeAnalysis0
Long CL Crude OilThe support seems holding. Bull Pichfork. Long at 72.0 and Target 82.0. Good Risk/Reward ratio. by LEONESUpdated 5
WTI Light Sweet Crude Oil, 6/13/23For Tuesday, 68.70 can contain buying into later week, below which 62.14 remains a 2 - 3 week target. Downside, 65.17 able to contain daily selling pressures, while closing below 65.17 indicates 62.14 within 3 - 5 days where the market can bottom out through summer activity. Upside Tuesday, closing back above 68.70 allows 71.94 within 3 - 5 days, able to contain buying through the balance of the week. A settlement above 71.94 indicates 77.56 within 3 - 5 days, able to contain weekly buying pressures when tested and the point to settle above for then indicating 81.44 long-term resistance within 2 - 3 more weeks.by SpecialeAnalysis0
Crude Oil Selling Into Support?Crude Oil getting hit to the downside in the over night session, and the selling is continuing this morning with prices trading right near the psychologically significant 68.00 level. The main spark of the selling was Goldman stepping in and revising their price target for Brent Crude to$86, down from $95. There is strong support in this August contract at 67.86, and a break below here could send us back towards the May lows at 64.41.by Ryan_Gorman221