Jump to content
Sign in to follow this  

US OIL

Recommended Posts

Luckily Iranian ships were on hand to rescue 44 crew members from the two stricken vessels.

Share this post


Link to post
16 minutes ago, Caseynotes said:

Luckily Iranian ships were on hand to rescue 44 crew members from the two stricken vessels.

image.png.b5121eb17c6cc714e6470434b26aa559.png

Share this post


Link to post

Scrub the picture above, was taken from a pic library and is not of the incident today.

Share this post


Link to post
40 minutes ago, Caseynotes said:

Scrub the picture above, was taken from a pic library and is not of the incident today.

Try this one instead¬†ūüôā

image.png.7750d899256ac7ef25caa992a322142d.png

Share this post


Link to post

Latest report is that this ship pictured has now sunk and that the 44 rescued crew from both damaged ships have arrived in Iran. 

Share this post


Link to post

Despite recent news events US Oil remains in it's recent range, resistance at 55 and support at 51.

Daily chart;

image.thumb.png.9b186ac83ed2693fbfb1e62f8cfb20d2.png

Share this post


Link to post

Oil volumes this morning are exceptionally low.  Almost no sellers.  Be careful in either direction.

  • Like 2

Share this post


Link to post

Stalled at previous support turned resistance 57.76 and has found short term support at 56.60 and looks to be settling into a range for the time being. News events over the weekend could cause gapping come Monday.

image.thumb.png.81b32361e6864990674839944b9f4061.png

 

Share this post


Link to post

Be aware that the explosion and fire today at the oil refinery in Philadelphia might have an impact on US Oil price, the refinery had a capacity of 330,000 barrels per day. 

 

Share this post


Link to post

Backs away from 60, no major news out of the OPEC meeting today though seems unlikely to be any changes to production numbers.

image.thumb.png.6fa0f25cc142f95b71b9f8bdc3cfa1ce.png

Share this post


Link to post

Bounces back towards 60, recent support at 58.35;

H4 chart.

image.thumb.png.6f3ced636086e7a617fd9985b64a267b.png

Share this post


Link to post

Finds support at 56 but it doesn't look strong, may try lower at 55.

H4 chart;

image.thumb.png.79376fda6256347f52f4982022ef8ab5.png

Share this post


Link to post

Similar to Gold, US Oil is settling into a range 56.08 to 57.60, currently mid down leg at 56.74.

H4 chart;

image.thumb.png.d07f744b39123307113b036ec21d62b4.png

 

Share this post


Link to post

56 support holding for now but something of a triangle come bear pennant forming on the H4 chart; 

image.thumb.png.179eb004b5f04d6f1b5c44448e979720.png

Share this post


Link to post

Oil looks under pressure today - broken channel minor support and heading toward 5573 (38.20% Fib)

Edited by FFS_Daytrader
  • Like 1

Share this post


Link to post
4 minutes ago, FFS_Daytrader said:

Oil looks under pressure today - broken channel minor support and heading toward 5573 (38.20% Fib)

image.thumb.png.68b15db30d515f58d736e11175618c77.png

Share this post


Link to post

Thanks Casey - I must get into the habit of uploading my charts etc to support my view (still learning as always)

Share this post


Link to post
1 minute ago, FFS_Daytrader said:

Thanks Casey - I must get into the habit of uploading my charts etc to support my view (still learning as always)

ūüĎć

 

Share this post


Link to post
40 minutes ago, FFS_Daytrader said:

Oil looks under pressure today - broken channel minor support and heading toward 5573 (38.20% Fib)

@FFS_Daytrader

@Caseynotes

I see support @ $56.06 and a test of the d30sma this could be a nice pullback to buy.

usoil-m15-ig-group-limited.png

  • Like 1

Share this post


Link to post
14 minutes ago, Foxy said:

@FFS_Daytrader

@Caseynotes

I see support @ $56.06 and a test of the d30sma this could be a nice pullback to buy.

Agreed - I see your support/30DMA on chart for a long position, I was referring to channel support (see Caseys chart) but both views should provide a good long entry position.

 

Share this post


Link to post

@FFS_Daytrader

Sorry I thought you were implying a short target @ $55.73. I was taught that horizontal support is King so if $56 is broken then a short to $54.40 looks good.

usoil-m15-ig-group-limited-4.png

  • Thanks 1

Share this post


Link to post

US Oil testing yesterday's high 58.92, a break above will line up the recent high from June around 60.00.

H4 chart;

 

image.thumb.png.0de7652cbb14b0c36939e611e10b7037.png

Share this post


Link to post
8 minutes ago, elle said:

Capture aug.PNG

Yes, the interesting one here is that speculators bought WTI and sold Brent, see below on the latest COT report.

image.png.9a9896ad1973e8143812138edde1695f.png

Share this post


Link to post
10 hours ago, elle said:

Capture aug.PNG

 

Capture vbv.PNG

Share this post


Link to post

just my opinion

Capture nsc.PNG

Share this post


Link to post

Captures the 60 mentioned this morning, may look to consolidate here.

H4 chart;

image.thumb.png.d98497dd359e64733fb2d4c448603654.png

Share this post


Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Member Statistics

    • Total Topics
      9,037
    • Total Posts
      49,195
    • Total Members
      62,490
    Newest Member
    JonnyKustow
    Joined 04/04/20 20:55
  • Posts

    • I cannot see that the global economy will have a fast recovery. I can only see a depression looming unless a vaccine is quickly developed. This is the first time in a long time that the US has been directly affected by a major negative event (9/11 was localised). With the US slowing down, there is no other economy that will be able to create the demand required to get us a fast recovery. China's domestic demand is not large enough and Chinese personal debt was going through the roof even before the virus pandemic. How will the world and the global economy be once this pandemic subsides? I think a very changed society and traditional retail will be one the worst sufferers. Also with all this money printing, is there a risk of hyperinflation in the long term? Well, gonna buy a couple of KGs of gold just as insurance and not for investment per se. Also think property prices will come under the cosh so sitting on cash will enable you to buy distressed properties as getting loans will be hard for many. I am reevaluating my log term investment strategy to take into account the changing environment.
    • Yes...lots of people reacting in strange ways right now......Keep smiling.... How long will it all last? I know it sounds boring....but forget the noise (harder said then done) and watch the charts...the trend is your only friend.... That said....down for april.....sell in may and come back in june!! Dan ¬† ¬†¬† ¬† ¬†
    • I have same question. I work in Dubai and have hold account with IG. If I plan to move to India, how can I deposit and withdraw money.
×
×