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Thread: Oil

  1. #3668
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    Today’s EIA number was certainly that, coming in well above expectations. Given the variations in both the EIA and API weekly stocks reports, what is WTI crude likely to do?

    If you are involved in the WTI markets, be aware of rollover from the August to September futures contract. Volumes are diluted 2/1 favoring September, making it the new-front month issue. As the session wears on, choppy price action is possible as the August/September spread is brought in by institutional players.

    The Hard Numbers
    It is becoming a weekly theme — oil inventories projections have missed the mark badly once again. Here is a look at the data:

    API: The API report came in Tuesday at a surplus of 0.629 million barrels. This is well above the previous release of -6.796 million.
    EIA: Today’s EIA stocks came in at a staggering 5.836 million barrel surplus. This figure shattered projections of -3.495 million barrels and last week’s -12.633 million.
    After last week’s chaotic price action following the reported draws, it is tough to pick a direction in WTI based on these numbers. However, growing supply is never good for commodity pricing. Perhaps traders will jump on the bearish bandwagon and test the $65.00 level.

    Oil Technicals
    September WTI crude is trading right at the 62% Fibonacci macro-wave retracement. Given the reported builds in supply, it is tough to envision a scenario where $65.00 is not tested in the near future.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  2. #3667
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    Crude Oil Slips Below $70 – API Report Awaited

    The American Petroleum Institute is due to report the weekly inventory levels of the U.S. crude oil at 20:30 (GMT). The figure shows how much oil and product is available in stores.

    This specific indicator provides a summary of the U.S. petroleum demand. Simply, the draw in inventories boosts the prices of crude oil, whereas, the inventory builds reduces the prices over lower demand concerns.

    During the previous week, API reported a draw of -6.796M barrels. Russia and Libya seem to hike the production lately. Logically it should increase the supplies and we can expect API to report a build in inventories. But it’s a tough call as Iran, the 3rd biggest oil exporter in OPEC, may export only two-thirds of its supplies because of new U.S. sanctions. That’s putting oil markets under huge pressure amid supply interruptions worldwide.

    What’s on the technical side?
    As you can see on the daily chart, crude oil has dropped below 70, crossing 50 periods EMA from the upper side. For the moment, it’s trading above a bullish trendline support at $66. The leading indicator RSI is entering the sell zone.

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  3. #3666
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    WTI Crude Oil Plunges, Smashes Downside Support

    The rout is on in WTI crude oil, with prices dropping dramatically in the last five sessions. It seems like just yesterday $75.00 was the key number and analysts were calling for $80.00. Now, price is shattering support level after support level amid a $7.00+ sell off.

    Traders are getting wise to the notion that considerable supply is due to begin hitting global markets in coming weeks. Reports from the U.S. Treasury are stating that U.S.-imposed sanctions on Iran may be lifted for some importers. If this turns out to be true, an additional source of crude will open up as OPEC ramps up production.


    Techinical Look

    After last Wednesday’s surprise crash in August WTI crude, prices appeared poised to regain some of the losses. Thursday and Friday traded exceptionally tight, rotating above a key 38% Fibonacci retracement level on the daily time frame. Today’s action has confirmed June’s uptrend is over.

    At press time, WTI is trading near the $68.00 handle and pushing intraday lows. The presence of the 62% retracement at $67.93 may give this market reason to pause. Nonetheless, traders are involved heavily to the short side, and there are no signs of the downward pressure ceasing.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  4. #3665
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    oil pair in now strong selling pressure and oil pair now trading at price 70.45 and i prefer for sell the oil at price 70.50 to 71.00 and trader set their take profit at price 69.00 to 68.00 and trader use stop loss at price 71.50 ti 72.00 and trader must follow the oil all news and updates and trader understand the oil pair price movement and follow the correct oil price then he/she place their orders in oil pair and then he/she easily make good profit with their oil pair trading today

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  5. #3664
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    WTI Crude Oil Trading At Key Support Level

    The end of the trading week is upon us once again, with the closing bell drawing near. I hope your trading accounts have performed well over the past five days, stuffed with green pips. As the weekend approaches, WTI crude oil is trading at a key technical support level on the daily time frame. It appears as though traders are happy with this market rotating between $70.00-$75.00 for the time being.

    Technical View
    It is make-or-break time for oil players, as August WTI crude is trading above a key level of downside support.



    After the Wednesday/Thursday massive $5 plunge, it appears that traders have come to their senses. Price has rotated to the bull, threatening to close above the 38% retracement level ($70.77) and Bollinger MP ($70.73).

    If price settles north of $70.77, then be ready for an early week bullish breakout to the value area of $73.00-$74.00.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  6. #3663
    Banned 00923027642346 has a reputation beyond repute 00923027642346 has a reputation beyond repute 00923027642346 has a reputation beyond repute 00923027642346 has a reputation beyond repute 00923027642346 has a reputation beyond repute 00923027642346 has a reputation beyond repute 00923027642346 has a reputation beyond repute 00923027642346 has a reputation beyond repute 00923027642346 has a reputation beyond repute 00923027642346 has a reputation beyond repute 00923027642346 has a reputation beyond repute 00923027642346's Avatar
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    oil should be marking out the first leg of a larger correction. Shoud fade over 94(94.15) below 94.15 for 92.50 again before 96.00. I have selling position in 94.25 and will closed after 100 pips profit.

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  7. #3662
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    If a M15 close above 88 buy only and do not sell. If price closes back below it again do nothing.

    If a M15 close below 86 sell only and do not buy. If price closes back above it again do nothing

    The range 85 and 86 is neutral area, any trade done in between is personal decision and not part of this analysis

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  8. #3661
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    Crude oil price suffered strong losses on yesterday, as it completed forming a double top pattern that its signs appear on the chart, to start bearish correction for the last bullish wave, noticing that the price broke 38.2% Fibonacci correction level at 70.82 to pave the way to target 69.44 followed by 68.06 levels that represent the next correctional stations.
    Therefore, theb bearish bias will be suggested for today unless the price managed to breach 70.82 followed by 72.53 levels and hold above them.
    Expected trading range for today is between 69.44 support and 72.00 resistance.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  9. #3660
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    short term signal on oil
    oil already bohat down achuka he but still down keh chances he mujhy abhi correction nazar nahi kyun keh 4h frame time pe stoshtic oscillator still sell ka signal de raha he not sign of oversold yet so my suggestion is sell oil with tp first 70.70 2nd 70.00 with sl 71.30 after
    Trade on your own risk
    Good luck

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  10. #3659
    Junior Member pawannegi007 is an unknown quantity at this point pawannegi007's Avatar
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    the price movement in the channel pattern with having support at 54.95 and nick line of resistance at 56.75 level. the price is having parabolic sar up trend so it will break the resistance. long with take profit at 57.80 and stop loss at 55.50
    good luck

    Attached Images  

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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