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$+++ buy on dipsssLongby kailashcfa33Updated 9
crude update blw mcx or spotcrud espot rickeddd now eys on 90$ if sustain abv 90$ thna expect 92--94+++ let see wht happen in nxt 2-3 session where support 85.55$ only blw expect correction ---- mcx crude already gvn 7265 abv buy or again telling if hold abv 7355 u will se 7480++++++++ seller be alert more lvl update soon stay hereby kailashcfa330
gold or crude mcx update blw after buy sell gvndid u see gold melted like ice sold from 58900 low made 58550@ --- crude buy gvn 7265 abv now more if stya abv 7315 ready to zoommmmmm 7480++++++-- in spot alsready gvn soon 90$ near or gold spot 1903 near-- by kailashcfa33Updated 1
My view on CrudeoilCrudeoil giving trendline breakout on 1D chart. Looking tgt 7400-7450-7500 very short term Keeping on radar Crudeoil 7300 CE (Hero/Zero) Or next contract option for holdingLongby M_K_PUSHKAR6
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
Could the price of oil exceed $90?If you want to be notified every time I post a new article, just click 'FOLLOW' above. Also, if you want to learn more about a particular topic or need some advice, please comment below the article and I'll be happy to help. Could the price of oil exceed $90? WTI crude futures fell below $87 a barrel on Monday. While there were various factors influencing supply and demand, concerns over the slowdown in China's economy were key when it came to commodities. China is the world's largest oil consumer and still needs to demonstrate that it is changing for the better. The latest unexpected increases in oil futures, and energy commodities in general, have surprised even traders who were expecting a relatively quiet year. These forecasts were disappointed on account of the effects of the decrease in supply by market operators and by the positive seasonal trend in oil and other energy raw materials. What will be the consequences of higher prices in oil and how will they affect consumer prices around the world? There are grounds for a reduction in oil exports by Saudi Arabia and Russia, which have reached an agreement to this effect. However, demand appears to remain strong in both the US and Europe, despite the threat of an economic crisis. If we also consider the potential prospects for stabilization of the Chinese economy, then the price of oil could rise further. While China and its government are at the center of media attention due to the recent economic turmoil, there is still confidence that the Fed can keep rates unchanged to avoid excessively slowing down the American economy. Essentially, economic trends are evolving from a month ago with more volatility in energy commodity markets, as indicated by the Oil Volatility Index (OVX), rising sharply. I believe that at this moment the members of OPEC are cooperating in harmony, all united by the intent to respect the agreements made. Russia has a strong interest in securing a high price to maintain the war economy, and while I am pessimistic about the long term, at the moment we can expect prices to hover around $90, with peaks higher. The need for oil in the global economy makes rising oil prices an important factor. When the price rises, businesses that use oil as an input to produce goods and services see their costs increase. Transport also becomes more expensive, contributing to the increase in prices of consumer goods. The annual CPI is one of the macroeconomic indicators most followed by the FED, and this possible increase could significantly influence monetary policy decisions. Moreover, technical analysis confirms the trend is positive, with prices above the 200-day moving average and trading volumes increasing. Of note is the recent entry into an overbought zone, where there could be a temporary drop in prices in the short term. According to my projection, the price of crude oil will reach $90 per barrel within the next few quarters. Longby Antonio_Ferlito1
Light Crude OilOil Price Movements and Inflationary Effects Those who have been following our series on the oil industry and its role in inflation expect these numbers to continue their upward trend before the final downward correction rears its head. This correction will inevitably impact subsequent inflation numbers.Longby ChartScope1
crude oil CL Week aheadWe are in a wedge pattern, so we need to wait til the price break one of the edges.by marciokanjyka0
weekly insightOil Breaking To The Upside: This idea argues that oil is breaking to the upside from previous highs and that long positions are attractive due to positive swap and tight supply. It also sets a target of $90 per barrel, Weekly analysis: This idea is bullish on US oil and expects a pullback to $84 area before a rally towards $92-$93 rangeby volumematter1
CrudeoilCrudeoil Chart Analysis........08/09/23 Long : above 7325 lvl. Sl : 7100 (jisko deep sl lena hai woh 7000 lvl. par rakh sakta hai.) Target : 7875 / 8000 Enjoy !Longby VirendraPandey339
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
#Crude #XTIUSD Trading The 5th Wave ExtensionIn this update we review the recent price action in the Crude oil futures contract and identify the next high probability trading opportunities and price objectives to target PAST PERFORMANCE NOT INDICATIVE OF FUTURE RESULTS01:06by Tickmill7
How to tell which way inflation is going?In this video, we are studying the time lag between commodities, inflation data, and central bank decisions. 3 types of crude oil for trading: • Crude Oil Futures 0.01 per barrel = $10.00 Code: CL • E-mini Crude Oil Futures 0.025 per barrel = $12.50 Code QM • Micro WTI Crude Oil 0.01 per barrel = $1.00 Code MCL Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. 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 Editors' picks07:41by konhow2323278
Crude Oil: RSI on Cusp of Sell SignalThe price of oil halts a six-day rally, and a move below 70 in the Relative Strength Index (RSI) may accompany a larger pullback in crude as it reflects a textbook sell-signal. Crude Oil Outlook The price of oil trades in a narrow range as it struggles to extend the series of higher highs and lows carried over from last week, and failure to hold above $87.30 (78.6% Fibonacci retracement) may push crude back towards the $82.10 (50% Fibonacci retracement) to $82.60 (23.6% Fibonacci extension) area as the bullish momentum seems to be abating. Next area of interest comes in around $78.70 (50% Fibonacci retracement), but the price of oil may track the positive slope in the 50-Day SMA ($78.94) as long as it holds above the monthly low ($83.46). In turn, the price of oil may attempt to test the $93.50 (38.2% Fibonacci retracement) area should the overbought reading in the RSI persist, with a breach above the November 2022 high ($93.74) bringing the August 2022 high ($98.65) on the radar. by FOREXcom4
multiple re-entries this week using the fair value gap methodlow risk entries: wait till 16 min bar closed above prior bar then buy the lowest part of the fair value gapLongby responsibletrad8r1
CL WTI Crude Oil - Getting In Sync With The Market MakersIn late July I made a call that oil's actual target in the imminent term is not $100+, but actually a 3 or a 4-handle. Oil - A New Long Leg Down Soon Begins I believe that this long term analysis is still correct. However, price action has shown that the target was finally the daily gap at $85 and was achieved last week. Thus far in some 7 weeks of trading, oil has only gained $9. I likewise believe that before Natural Gas goes on its next bull run, it's going to violently abuse the longs with a raid under $1.8 NatGas - No Moon Until Doom But with current price action, we may get a false breakout over $3.1 before that can happen. A pump in energy and metals in September would be congruent with the thesis that equities are going to have a very red September as a setup into a Q4 that takes out the highs, which I outline here on the Nasdaq ES Futures: Nasdaq Futures - Are You Prepared For Red September? But the problem for retail traders is everyone is "practical" and believes that we're going straight up from where we are. It's a new bull market, some guy who works for some big bank and is tasked with engineering liquidity for high net worth clients and funds, told social and establishment media. Equity bulls need to give their head a shake, though. And so do energy bulls. With the U.S. being net short hundreds of millions of barrels from the Strategic Petroleum Reserve and the Fed reiterating that interest rates simply are not going to be cut until there's an international economic crash, the "long" trade only exists insofar as riding the wave that is intended to kill long term funds who are net short. If the scheme really is to rally like it's a new paradigm into Q4 and create a Bump and Run and then blow the world economy away in 2024 ahead of the next U.S. election, which Joe Biden will win because Donald Trump will die in prison, then there are significant risks. It's just like Burning Man where they decided to do a ritual sacrifice to the Azov cult in Ukraine and were met with a flood and rainbows and now are trapped in 6 inches of their own urine and feces and alkaline mud. What I mean by the above is that the best laid plans of mice and men always go awry, and this should be obvious to anyone who understands the situation in China with even a modicum of sobriety. Unfortunately, the people who understand China with a modicum of sobriety are almost nobody. Xi Jinping is an idiot who is still holding onto the Chinese Communist Party, the most murderous and worthless regime in all of human history. While Xi has never participated in the persecution of Falun Dafa's 100 million practitioners, which was started July 20, 1999 by former Chairman Jiang Zemin, and has even been killing the Jiang Faction as his real target in the Anti-Corruption Campaign, Xi is still the head of the CCP. When the CCP falls, Xi will fall with it and be impugned as responsible for all of the Party's sins in all of history. And this means that in the process of the CCP falling, Xi may show a glint of intelligence and wisdom and overthrow the Party himself, Gorbachev style, using the persecution as a weapon to protect the real China from being taken over by the International Rules Based Order that uses Taiwan as a proxy. What all of this means for energy and equities and really everything else is significant gap downs are ahead in the markets, and are likely to come at prices that are high but not that high. This is because if significant problems in China emerge and go viral on social media that Party West's propaganda machine are unable to suppress, it will disrupt the plan, and all of those long positions that are set to sell at high prices will turn around and start market dumping. This means you'll wake up one morning and see that SPY and QQQ are down 12% on market open, and this time, unlike COVID, you aren't seeing daily reversals for mitigation. Everyone will just be open selling to get into USD cash to run for their lives. Nobody will be around to maintain the bots, and every market will look like a cryptocurrency memecoin. So here's the trade on oil. We may see an immediate reversal at $85, where we are now. But I think the real target is $95, which will take out that effective daily bar double top printed in November of last year. That will draw in all the $100 call moonboys, since energy bulls are even more irrational than goldbugs. And they'll expire worthless as we head into the $40s to end the year while Apple prints $220 and Tesla prints $420 and NVDIA prints $480 (lolAIbulls). So if you want a trade heading into September, maybe we get a retrace to $82 on oil. Consider going long with a stop under the $77.60~ low. Sell at $95. Look for big dumps and go short on the retrace and hold into February for a $30 candle. Then get long for January '25 printing $150+.by LordWrymouthUpdated 6
Crude oil live ..upwords on assending channel Fibonacci retracement. 0.6, 0.5 for reversal area..having assending channel.and assending channel 3-4 touch price makes bullish ..taregt will be till last high or break this for new high..Longby mansetsoft3
oil and silverWhere #CrudeOil goes... #Silver goes! Watch for those continuation breakout lines. Longby Badcharts3
Buy sell is mind game Buy sell is mind game Marke up trand buy Market down trand sell Market sideways 3 type of market Daliy bassis Market up trad ce buy by joyfulMeerkat90270
Decoding the Dance of Oil, Inflation, and Changing Markets"Oil is the lifeblood of modern civilization, fueling progress and shaping the course of nations." By ChartScope Published on August 25, 2023 Consider the shock of paying significantly more for your daily fuel needs. This not only affects your driving expenses but can ripple into higher costs for essentials like groceries and clothing. Enter the role of light crude oil, a behind-the-scenes player that holds more sway than meets the eye, influencing our economy in profound ways. Oil's Ripple Effect on Spending Light crude oil serves as a building block for everyday products and fuels. Lower oil prices usually translate to more affordable transportation and manufacturing, giving us a break in costs. Yet, when oil prices surge, a ripple effect ensues. As production and transportation expenses rise, businesses often pass these costs on to consumers. This chain reaction can trigger the already-known inflation, leading to steep price increases across the board. Market Shifts in the Spotlight Now, imagine the stock market as a roller coaster. It's been on a thrilling ascent for some time, but murmurs of a slowdown grow louder. The ride might become bumpier, leaving investors on edge. They start exploring alternative avenues to safeguard their investments and generate returns. Unveiling the Commodity Connection Enter commodities, like gold, crops, and even oil. These tangible assets retain value even amidst economic turbulence. As inflation starts to climb, people often turn to commodities as a haven for their money. Charting a Path Forward But let's analyze the data a bit more. My technical analysis indicates that light crude oil might dive below the $64 mark this year or the first half of next year, which could diverge from the narrative presented by Truflation's recent article. They posit that the turning point in CPI data has been reached, with growth ahead. However, with CPI potentially rising further in August and September, my analysis could show a decline by year-end or the first half of next year due to the dynamics of the oil market. Analyzing the Charts: Weekly Perspective After the prolonged correction phase following the 2008 financial crisis, 2020 marks a turning point for light crude oil. Elliott Wave Theory, a complex analytical tool, identifies an impulse phase followed by a correction phase. Currently, the chart appears to be stuck in the correction phase of the second wave. However, this correction is not yet complete based on the Fibonacci retracement, this is ideally within the Golden Pocket - the area between the 61.8% Fibonacci level at $56.07 and the 65% Fibonacci level at $52.22. The price could also go lower to test the upper side of the multi-year correction channel (blue). The maximum targeted price would be $35.84 or the 78.6% Fibonacci level. Note that these chart assumptions are based on technical analysis, not immediate news, which often occurs at event time. Looking at the price of oil relative to the stock market, this could be a turning point for both stocks and commodities. Multi-year oil price targets could be headed for $200, while equity markets could drop significantly as inflation hits a new high. Predicting time frames is difficult, but as mentioned earlier, the trend for light crude is downward. The chart below details the specific correction targets in more detail. In Summary Oil's influence is far-reaching, affecting inflation and the broader economy. Market shifts and the growing importance of commodities underscore the evolving financial landscape. As a technical analyst, my charts suggest a potential conflict with current CPI predictions, hinting at a different trajectory due to oil fluctuations. Navigating these interconnected dynamics requires vigilance, understanding, and an eye on both data and market trends. Technical Analysis - Not Financial Advice Remember that the insights shown here are for informational purposes only and should not be considered financial advice. I will be looking at indicators, chart patterns, and potential trends. To make informed decisions, it is important to understand the broader market landscape. Stay informed, stay alert, and remember that this is not financial advice.Shortby ChartScope3
NYMEX CRUDE OIL reached the target zone..Crude continues performing as anticipated. It reached today our target zone while showing ST overbought condition, be prepared for a profit taking wave in the coming sessions.by gentlemanlb3