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Oilforecast

Would like to see some consolidation....Crude has been honoring this trendline since tagging my supply zone a couple of weeks ago. I think we have a good chance of tagging the 200 ema at around 88 but would like to see some consolidation for a few days, similar to the consolidation that occurred on Dec 19-22. Nice inverted H&S pattern forming plus all of the bullish factors I mentioned in my last post makes this a high probability trade imo. China opening up should provide some tailwinds as well. Thanks for reading and let me know what you think. Cheers.
NYMEX:CL1!Long
by GreenBoxTrading
USOIl Crude Oil important Support LevelWTI Crude Oil is at a key support level now and i don`t think we have seen the last of it. OPEC+ unexpectedly decided to cut output in October by 100,000 barrels a day. It`s not much for now, but they will continue cutting the supply until they will get the oil to $90. I`m looking for a bounce to the $85 - $92 area before heading to $62 by the end of next year, when i expect the beginning of an electric revolution worldwide. Looking forward to read your opinion about it.
TVC:USOILLong
by TopgOptions
2
Brent crude bearish sentiment Commentary: Despite the optimism around the reopening of China from COVID restrictions, oil prices remain vulnerable to fears of a global economic slowdown. The EU’s price cap at $60 per barrel while OPEC+ is expected to maintain existing production targets adds towards the bearish outlook on price. Brent crude : Last weeks gains can be viewed as a “corrective” bounce off the $81 support; since price has pierced below the September 26th lows at $82.30 may serve to keep alive the bearish price sentiment; downside potential spotted near the $79.7s while upside seems limited to $89.2 in the short term (5-25 days). Not investment advice. Past performance is not indicative of future results.
SKILLING:XBRUSDShort
by Skilling
TRADE THE OPEC CHANNEL - LONG & SHORTI've done a full blown video on the analysis of this trade see my idea links below and the ideas behind the pin bar reversal price action training chart (how to enter the trade). We're in a downtrend so this possible reversal so i recommend a smaller risk trade, Beginners - Take profits on the way up after taking T1, move T1 and T2 your stops to zero (No risk) Advanced - leave your stops alone, you know this thing could reverse back and bouce up, like it did Friday 25th Nov. The buyers are in our favour on a move lower into the SPR and OPEC buying zone. Take profits at T1 and let the rest of the trade run up to T2 and T3
CAPITALCOM:OIL_CRUDELong
by CBMotivation
1
20 Reason for sell OIL 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1 ✨Eagle eye: Sideways 2 📆Monthly: Bullish to corrective mode 3 📅Weekly: a clear bear trend is established with proper lower lows 4 🕛Daily: bear and filled out corrective move now just ready for the next impulse move in bearish side 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: bear 6: 2 Pattern Candle Chart: long shadow rejected at resistance 7: 3 Volume: 8: 4 Momentum UNCONVENTIONAL Rsi: Sideways to bear 9: 5 Volatility measure Bollinger bands: rejected at the middle band 10: 6 Strength ADX: just beginning strength for bears 11: 7 Sentiment ROC: ✔️ Entry Time Frame: H4 12: Entry TF Structure: sideways 13: entry move: wait yet 14: Support resistance base: upper resistence 15: FIB: nil ☑️ final comments: wait for breakout 16: 💡decision: sell 17: 🚀Entry:79.90 18: ✋Stop losel: 81.5 19: 🎯Take profit: 73.66 20: 😊Risk to reward Ratio: 1:6 🕛 Excepted Duration: 10 days
TVC:USOILShort
by Optimum369
How to profit from Crude Oil - LONG (and short) The USA is in a political battle over the price of oil with OPEC and right now they are winning, but how low can they go? Not too much lower actually, they need to start buying again to ensure their strategic reserves remain useful and not at risk of dropping below the requried levels to support the country in times of emergency. OPEC $64 - To ensure OPEC break even on oil product, they will control the market above SPR $72 - To replenish the reserves the USA is a buyer at $67 - $72 a barrel, not too far from where we are now EU $70 - The EU are in talks to ensure Russian oil cannot be sold above $70 Pin Bar $77 - We have a bin bar rejection to support the market move North again Fib 78.6% - We've rejected this level 7 times on the weekly and daily chart Target 1 - We've already tested and profited from this move upto $82 and we'll be doing that again Target 2 - Fib 61.8% at 88 will be our next target Target 3 - Fib 50% at 92 will be our final target Short - If we break down past 77, we'll be a buyer just below at the SPR support levels.
CAPITALCOM:OIL_CRUDELong
by CBMotivation
2