Crude Oil Super Bullish Targeting 121 and 149 US $
Crude Oil Super Bullish Targeting 121 and 149 US $
I n my previouse Oil Trading Idea I mentioned the main factors why we have reahed the bottom.
I opened the first trades on May the 23rd(See signals above) but gave my stops more rooms, below the 15 Months Support, and as they ´ve been confirme I added more aditional Positions on June 23rd, Last week I added agressively the 3d tranche of my Positions as the market broke 3 very important resistances in raw without any significant pullbacks.
To take these trades needs high levels of patience, weekly news should and can be ignored.
On the same time I closed all my short positions which I continiousely opened from 119 downwards.
My Trading indicators confirmed these levely very nicely, and that is the powerfull answer to all news and news makers, and day traders who lost 90% of their capitals, an following news blindly, or vasting their times and assets in day traing: TREND ALWAYS WINS! ALWAY! NEVER DOUBT ABOUT IT!
Bullish sentiment is building in oil markets as U.S. inventory levels continue to drop while OPEC+ production and export cuts are expected to be extended.
Continuous US stock draws equivalent to a 1 million b/d decline over the past five weeks have led to an unusually tight oil market in the United States, adding upward pressure to oil prices despite economic woes. Widespread expectations of OPEC+ extending production and export cuts as well as recovering Chinese manufacturing activity have added to the bullish sentiment, with ICE Brent surpassing $87 per barrel.
Chevron Workers Reject Company Offer, Start Striking Next Week. Workers at Chevron’s (NYSE:CVX) Australian Gorgon and Wheatstone LNG plants have rejected the company’s pay and conditions offer, moving full steam ahead with planned work stoppages starting from September 7.
Russia Flags OPEC+ Coordination on Track. Russia’s deputy prime minister Alexander Novak announced that OPEC+ members have agreed on the main parameters of production over the upcoming months but would only announce it next week, indicating Riyadh’s and Moscow’s cuts are to continue.
International Banks Team Up in Glencore Battle. Glencore’s (LON:GLEN) stock performance has been anemic recently as a whopping 197 claimants took the trading giant to London courts over “numerous misleading statements” and repeated cases on unlawful conduct, with several African bribery cases.
Oil Majors Lament on US Wind Power Prices. European oil majors Equinor (NYSE:EQNR) and BP (NYSE:BP) are seeking a 54% increase in the purchase agreement prices of three planned US wind farms, according to a NY regulatory filing, with the initial strike prices set at $108-118 per MWh.
Argentina Ramps Up Shale Gas Offtake. The home of Argentina’s shale gas play Vaca Muerta, the province of Neuquen, posted record high gas injection levels this month, topping 100 Mcf per day, as a new gas pipeline connecting the fields to the capital Buenos Aires was inaugurated recently.
Higher Interest Rates Prompt LNG Plants to Hike Fees. A string of US LNG developers, most notably NextDecade (NASDAQ:NEXT) with its Rio Grande LNG project, adjusted term deals signed earlier and increased liquefaction fees to reflect rising interest rates and higher construction costs.
Gabon Coups Leaves Regional Trade on Tenterhooks. At least 30 commercial vessels, of which at least 6 tankers, anchored in Gabon’s territorial waters after the military seized power in the African country from long-time president Ali Bongo, with Libreville halting port operations.
Trans Mountain Pipeline Faces New Delays. Trans Mountain Corp, the operator of the eponymous pipeline, expressed its fears that its Q1 2024 commissioning might be delayed as the Canadian government is still yet to approve a route deviation on a 0.8-mile section, opposed by a First Nation.
First Gulf Coast Wind Auction Triggers Weak Interest. The first-ever offshore wind auction in the US Gulf Coast ended with a single $5.6 million bid for 102,480 acres off Louisiana coming from German renewable developer RWE (ETR:RWE), the lowest winning bid for a federal wind lease.
Chevron Evacuates Its Gulf Coast Platforms. US oil major Chevron (NYSE:CVX) evacuated its staff from three oil platforms in the Gulf of Mexico – Blind Faith, Petronius and the soon-to-be-decommissioned Genesis – ahead of Hurricane Idalia, shutting in some 125,000 b/d of production capacity.
Gazprom Hides Production Figures as Sales Drop. Russia’s leading gas producer Gazprom (MX:GAZP) stopped reporting export figures as it published financial results for the first half of 2023, posting $3.1 billion in net profit, a mere quarter of its $12 billion EBITDA for the same period.
Japan Extends Oil Subsidies Until End-2023. Japan’s Trade and Industry Ministry (METI) extended oil product subsidies until the end of December 2023 as retail gasoline prices soared to the highest readings ever this week, reaching $200 per barrel, boosted by higher oil prices and a weaker yen.
Lithium Prices Go into a Tailspin. Having already halved since January, Chinese lithium prices have dropped a further 10% in August as lithium hydroxide EXW China quotes fell to $33,500 per metric tonne, below those of lithium carbonate, amid poor demand for high-nickel cathodes.
I n my previouse Oil Trading Idea I mentioned the main factors why we have reahed the bottom.
I opened the first trades on May the 23rd(See signals above) but gave my stops more rooms, below the 15 Months Support, and as they ´ve been confirme I added more aditional Positions on June 23rd, Last week I added agressively the 3d tranche of my Positions as the market broke 3 very important resistances in raw without any significant pullbacks.
To take these trades needs high levels of patience, weekly news should and can be ignored.
On the same time I closed all my short positions which I continiousely opened from 119 downwards.
My Trading indicators confirmed these levely very nicely, and that is the powerfull answer to all news and news makers, and day traders who lost 90% of their capitals, an following news blindly, or vasting their times and assets in day traing: TREND ALWAYS WINS! ALWAY! NEVER DOUBT ABOUT IT!
Bullish sentiment is building in oil markets as U.S. inventory levels continue to drop while OPEC+ production and export cuts are expected to be extended.
Continuous US stock draws equivalent to a 1 million b/d decline over the past five weeks have led to an unusually tight oil market in the United States, adding upward pressure to oil prices despite economic woes. Widespread expectations of OPEC+ extending production and export cuts as well as recovering Chinese manufacturing activity have added to the bullish sentiment, with ICE Brent surpassing $87 per barrel.
Chevron Workers Reject Company Offer, Start Striking Next Week. Workers at Chevron’s (NYSE:CVX) Australian Gorgon and Wheatstone LNG plants have rejected the company’s pay and conditions offer, moving full steam ahead with planned work stoppages starting from September 7.
Russia Flags OPEC+ Coordination on Track. Russia’s deputy prime minister Alexander Novak announced that OPEC+ members have agreed on the main parameters of production over the upcoming months but would only announce it next week, indicating Riyadh’s and Moscow’s cuts are to continue.
International Banks Team Up in Glencore Battle. Glencore’s (LON:GLEN) stock performance has been anemic recently as a whopping 197 claimants took the trading giant to London courts over “numerous misleading statements” and repeated cases on unlawful conduct, with several African bribery cases.
Oil Majors Lament on US Wind Power Prices. European oil majors Equinor (NYSE:EQNR) and BP (NYSE:BP) are seeking a 54% increase in the purchase agreement prices of three planned US wind farms, according to a NY regulatory filing, with the initial strike prices set at $108-118 per MWh.
Argentina Ramps Up Shale Gas Offtake. The home of Argentina’s shale gas play Vaca Muerta, the province of Neuquen, posted record high gas injection levels this month, topping 100 Mcf per day, as a new gas pipeline connecting the fields to the capital Buenos Aires was inaugurated recently.
Higher Interest Rates Prompt LNG Plants to Hike Fees. A string of US LNG developers, most notably NextDecade (NASDAQ:NEXT) with its Rio Grande LNG project, adjusted term deals signed earlier and increased liquefaction fees to reflect rising interest rates and higher construction costs.
Gabon Coups Leaves Regional Trade on Tenterhooks. At least 30 commercial vessels, of which at least 6 tankers, anchored in Gabon’s territorial waters after the military seized power in the African country from long-time president Ali Bongo, with Libreville halting port operations.
Trans Mountain Pipeline Faces New Delays. Trans Mountain Corp, the operator of the eponymous pipeline, expressed its fears that its Q1 2024 commissioning might be delayed as the Canadian government is still yet to approve a route deviation on a 0.8-mile section, opposed by a First Nation.
First Gulf Coast Wind Auction Triggers Weak Interest. The first-ever offshore wind auction in the US Gulf Coast ended with a single $5.6 million bid for 102,480 acres off Louisiana coming from German renewable developer RWE (ETR:RWE), the lowest winning bid for a federal wind lease.
Chevron Evacuates Its Gulf Coast Platforms. US oil major Chevron (NYSE:CVX) evacuated its staff from three oil platforms in the Gulf of Mexico – Blind Faith, Petronius and the soon-to-be-decommissioned Genesis – ahead of Hurricane Idalia, shutting in some 125,000 b/d of production capacity.
Gazprom Hides Production Figures as Sales Drop. Russia’s leading gas producer Gazprom (MX:GAZP) stopped reporting export figures as it published financial results for the first half of 2023, posting $3.1 billion in net profit, a mere quarter of its $12 billion EBITDA for the same period.
Japan Extends Oil Subsidies Until End-2023. Japan’s Trade and Industry Ministry (METI) extended oil product subsidies until the end of December 2023 as retail gasoline prices soared to the highest readings ever this week, reaching $200 per barrel, boosted by higher oil prices and a weaker yen.
Lithium Prices Go into a Tailspin. Having already halved since January, Chinese lithium prices have dropped a further 10% in August as lithium hydroxide EXW China quotes fell to $33,500 per metric tonne, below those of lithium carbonate, amid poor demand for high-nickel cathodes.
Nota
BullishNota
Suadi Arabia Aramco! Oil super BullishNota
BullishNota
OPEC DRIVES higher oil pricces. BullishNota
BullishNota
dxy down FOMC DOLLAR DOWN Oil Skyrocketting bullishNota
BullishNota
Bullish Remember the 2 Wekk ago: During the FED TALKS Many ups and downs, Fake signals and many Bulltraps and beartraps. As good traers we analyse the past and learn of it,we analyse our mistaes, manymany times, and we reconstruct them. We build strategies, what woul have worked or not worked in those situations, and we train,train,train,train the same situaton many many times sometimes 100 times. As good traders we are the students of the marets. We have a good PLAYBOOK. We study our PLAYBOOK, We let the market come to our setup: We dont hurry. We dont rush. We wit untile the market comes to us. Not the opposite. We let the bulls and bears show their cards. We go with the trend. We follow the money. We avoide to listen what in the charts ppl say next week, next year, next our the market will be or not, becaus as smart traders we know THAT W TRADE HERE RIGHT NOW! WE TRADE ONLY THE PRICE! It is not interesting what the future brings, THE FUTURE IS THE PROVE OF THE PAST! THIS Wee many FED TALKS2X ISM
UNEMPLOYMENT DATA
INFALTION DATA
TREND BEAISSH
DOWN GAP ON DAILY CHART IS NOT FILLED
OUR SETUP IS BEARISH
MEANING WE SELL THE BULL REVEREALS AND TRADE ONLY SHORT
TREND ON HIGHER TF IS DEFINITLY BEARISH BUT NOT ON WEEKLY AND MONTHLY
DAILY SETUP IS BULLISH WEAK
4H AND TF BELOW ALL BEARISH
WE TRADE SHORT SELLING ON LOWER TF ONLY
AN LOOK FOR HIGH QUALITY TRADES
DURING OR WHILE THE NEWS ARE RELEASED WE STAY OUT
REMEMBER: WHEN FED Talks then WEEKLY AND MONTHLY OPEN VERY IMPORTANT
EThe first move is always Alfo oves:When the news are released weather positive or negative the market will stay silent or it will immediately reatc.In both cases we dont touch the trade and just watch. Because the algos make the first moves. Most of them are short ternm scalpers. These moves will be very fast so that getting a goo price will b ifficult. Better:We stay out and wait for pullback or retraement. If the pullbak or retraement stops at the trigger setup then we wait for the weakness or strength. We never buy the DIP. We buy only the next possible strength after the dip, For example using anchor VWAP. We never sell the retracement. We sell the weakness after the retracement for example using Stochasti and VWAP OR ANHORE VWAP. Stops and money management is your job. I know my stop levels. My Target is short ,and first profit target will be GAP between 14200-14445. The next profit target dependes on the trend. If short trend continues, we close some positions take profits, and let the rest run until the bear trend is over.
Nota
Long and Mid Term BullishNear Term Bearish
The market is witing for Crude Oil Inventories on Wednesday.Also FED Talks and US ATA that will have impacts on US Dolalr are ver yimportant this week
Weekly POC is timed on 90.006 the current price. A break below 88.76 will move oil to 87.824 and possibly 86,278.The next levels are 86,239 and 83,279.Upper Levels are 91,28, 92,218,94,004. We trade lower TF based an depenent on Higher TF Trend. We take onlyy Long setups, and wait until the market comes to our set up,not the opposite. Therefro W are waiting for a DIP situation, where we dont buy th DIP, but wait to buy the STREGTH aftr the Dip. It is a usfull and wel confirmed onfirmation pattern that the DIP will b/Could be valid. If th sregth after the IP fails ,w will interprete the DIP as Bulltrap. Anchored VWAP and specially Stochastic are very usefull indicators that delivered very positive and trustworthy results in the past, and the positive confluence and correlation speccialy in the oil markt is above 0.89(89%).
Nota
current state bearishbullish fast moves are algos Becarefull of bulltraps...
Remember: ALGOS CAN MOVE FAST,But algos cannot trade periodes higher than 1 minute. It means Algos cannot trade the trend. The trend is the only weapon against electronic algos. Even very fast scalpers have a win rate below 35% against the algos. Trade only the trend, even on the lower timeframes. Always.
Nota
US100 shortBased on AFPand yahoo news . Iran seems to think the priority is to take the fight to the Israelis first
Saudi Arabia puts Israel deal on ice amid war, engages with Iran, sources say
If socurrently Oil and commodities jumping higher, that will cause hiigher US Dollar, and dropping Indices down..
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.