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Oilsignals

Is it time to buy some OIL? EngineeringRobo warned you!Oil prices have plunged this year, as supply has jumped and demand has plummeted. They are down more than 50% just this month. On Monday, they took a new leg down, with West Texas Intermediate crude futures temporarily falling below $20. The last time Texas oil settled below $20 was in 2002. Smart EngineeringRobo traders know when to enter when to exit OIL. EngineeringRobo offers strategic trading entry and exit points, so you can preserve capital before markets tumble, and take full advantage as they start to rebound. At a glance, market timing indicators tell investors whether market conditions are right or whether it’s safer on the sideline. When it comes to investing, time is of the essence. Keep tabs on market conditions, explore investing opportunities and trade; all in EngineeringRobo! Sadly with the amount of wrong information out there, learning how to trade profitably alone has become almost impossible. Even most advanced traders are lacking some key tools that could unlock their potential. Thus, EngineeringRobo suits beginners as well as advanced traders because it gives basic to complex tools in a very progressive and easy to follow way. ---- Does EngineeringRobo compatible only with crypto? No, our products are not only compatible with Crypto, but with Stocks, Commodities and Forex as well. Get benefited by using our products for all of the above markets. Start your one week free trial today!
NYMEX:CL1!
by CryptoEngineering
4
LONG CRUDE OIL WTIThe drop in oil prices is caused by excess supply and shrinking demand (due to covid19 causing demand for oil to drop since industry like transportation don’t need that much anymore). Russia refused to cut production, in a bid to drown America's high-cost shale producers in a sea of cheap crude. Saudi Arabia responded by slashing prices and ramping up production and this is exactly the opposite of what was needed to balance the market. Major oil companies including Chevron (CVX) and ExxonMobil (XOM) have been said to have announced cost cutting measures. Another company, Occidental Petroleum (OXY) slashed its dividend by 86%.
NYMEX:CL1!Long
by Trader_hao
1
CRUDE OIL Price Will Drop To $20 or Worst $18.15| 3rd March 2020Price oil not only has been a target to a massive selling from investor but the oversupply from the country exporters while China that has to be no.1 oil purchaser has not buying oil price as per regular basis. As per chat on monthly timeframe, there was a significant supply has been going on in the market recently. The chart clearly shown that the supply of oil still continue to supply even the crisis of pandemic has gotten worst. To prevent this to be oversupply, the oil producer has being in the decision to cut the oil supply so that to maintain the fair price of oil around $50 per barrel. While this cut is implementing, it will takes time to be control. The price right now closed around $45 as 1st March 2020. The price has done the correction pattern which is why it tends to slope against the prior uptrend. It is a short term pattern and this will tally to the cutting implementation from the oil producers countries. I am predicting the price of oil will bearish hitting around $20.00 or worst $18.15 per barrel before it will continue bullish to meet the fair price. Please like, subscribe and share this post. Dont forget to thumbs up if you like. Please follow me to get the latest news regarding the trending topic of prophecy. Regards, Zezu Zaza
OShort
by Zezu_Zaza
7
USOIL Why it MUST hold this Triangle. Danger for $42.5 otherwiseThe pattern is a Channel Down since the April 2019 66.60 top. However with the price rejected on the 54.60 Resistance and pulling back to the 49 region the very bearish fractal of 21 Nov - 14 Dec 2018 comes to my mind. See how both then and now the price traded within the 54.60 Resistance and 49.30 Support. As a result buyers must defend the Lower Low zone of the long term Channel Down (which I have displayed it with the green Triangle) if they want to avoid an aggressive break down to the 42.30 1W Support (24 December bottom). On the other hand, every time the Channel Down made a Lower Low, the price always made a pull back after the first rebound. I have illustrated that with the circles. It never jumped aggressively to a new High. So as long as the Lower Low zone holds, it is a long term technical buy.
FX:USOIL
by TradingShot
1
WTI OIL Buy SignalPattern: 1D Channel Up. Signal: Bullish as group of parameters is fulfilled: 1. Reached the Higher Low of the pattern, 2. Made contact with the 1D MA50, 3. Hit the 1.3 Fibonacci retracement level after the Iran attacks, 4. The RSI is on a 3 month support level. Target: 64.00 (Higher High trend line of the pattern) and in extension (depending on the geopolitics at the time) 66.00 (just below the 1W Resistance). See how accurate this pattern with Supports and symmetrical Resistance levels has been in the past:
FX:USOILLong
by TradingShot
CLJ0 Daily AnalysisThis analysis of CLJ2020 , the contract for April 2020 delivery, is an attempt at forecasting oil price into Q3 2020. A potential supply area around 6275-6325 via an increasing urge to lock in profits/reduce short risk exposure . Also, the risk of downside for longs is ever more noticeable as oil approaches the 3-sigma area where odds of mean reversion greatly increase. Looking for selling into strength opportunities in the lower timeframes is reasonable it seems.
NYMEX:CLJ2020Short
by Zoen_Trieste
1