Forecast and levels for Oil - page 18

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Oil prices fell on Monday on worries

Sergey Golubev, 2020.05.04 13:23

Oil prices fall on U.S.-China tensions

Brent crude LCOc1 was down 57 cents, or 2.2%, at $25.87, at 1021 GMT, and U.S. West Texas Intermediate (WTI) crude CLc1 fell $1.41, or 7.1%, to $18.37.



While global oil demand is expected to recover modestly from April lows as countries ease some lockdown measures, the glut created over months in storage facilities will loom over the markets.

“As oil inventories are likely still increasing over the coming weeks, oil prices remain vulnerable to renewed setbacks,” said UBS analyst Giovanni Staunovo.

However, Goldman Sachs was more optimistic than before about the rise of oil prices next year due to lower crude production and a partial recovery in oil demand.

The Wall Street bank raised its 2021 forecast for global benchmark Brent to $55.63 per barrel from $52.50 earlier. The bank hiked its estimate for WTI to $51.38 a barrel from $48.50 previously.

The six-month spread of Brent futures LCOc1-LCOc7 hit its narrowest in almost a month at a discount of around $6.50, up from a record wide discount of almost $14 in late-March, reflecting decreasing oversupply expectations and making storage for later sale less profitable.

The re-emergence of trade tensions between the United State and China also weighed on prices.

“Demand projections have sobered up last week’s enthusiasm and this, together with the prospect of new U.S.-China trade tensions, have weighted heavily on prices today,” said Rystad’s senior oil markets analyst Paola Rodriguez-Masiu.

more..

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Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

==========

Same systems for MT4/MT5:

The beginning

  1. ASCTrend system, the beginning, part #1
  2. ASCTrend system, the beginning, part #2
  3. ASCTrend system, the beginning, part #3
  4. ASCTrend system, the beginning, part #4 
  5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
  6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After 

  1. The main AscTrend thread is this one.
  2. Asctrend indicator in depth 
  3. ASCTREND SYSTEM summary (good EAs included) 
  4. Brainwashing system/AscTrend system (MT5) - the thread

 

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Oil Suddenly Crashes After Jobs Report

Sergey Golubev, 2020.05.06 14:47

Oil Suddenly Crashes After Jobs Report


It would appear no one told the machines that ADP would report a devastatingly ugly jobs print this morning...

Oil started sliding earlier but the 'better than expected' ADP print actually seemed to spark a panic puke for some reason ahead of this morning's EIA inventory/production report.

more..


 

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Press review

Sergey Golubev, 2020.05.13 19:27

U.S. Commercial Crude Oil Inventories news event: ranging near reversal in intra-day and on daily timeframe

2020-05-13 15:30 GMT | [USD - Crude Oil Inventories]

  • past data is 4.6M
  • forecast data is 4.1M
  • actual data is -0.7M according to the latest press release

[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

==========

"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.7 million barrels from the previous week."

==========

Crude Oil: range price movement by  U.S. Commercial Crude Oil Inventories news events 

Crude Oil: range price movement by U.S. Commercial Crude Oil Inventories news events

==========

Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:


 

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2020.05.20 20:52

U.S. Commercial Crude Oil Inventories news event: daily ranging near bullish reversal waiting for direction

2020-05-20 15:30 GMT | [USD - Crude Oil Inventories]

  • past data is -0.7M
  • forecast data is 1.7M
  • actual data is -5.0M according to the latest press release

[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

==========

"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.0 million barrels from the previous week."

==========

Crude Oil: range price movement by  U.S. Commercial Crude Oil Inventories news events 

Crude Oil: range price movement by U.S. Commercial Crude Oil Inventories news events

==========

Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

==========

The forum threads
  1. Key forum thread - Fast Fourier Transform - Cycle Extraction - the thead with FFTfiltr indicator and explanation
  2. New EA based on the !xMeter (!xMter based on Fast Fourier Transform) - the thread 
  3. Many FFT indicators with examples and explanations - the thread 
  4. Ticks Before The News - the thread with many FFT indicators and explanation how to trade

CodeBase

  1. dt_FFT - library for MetaTrader  
  2. LGLIB - Numerical Analysis Library - library for MetaTrader 4 
  3. ALGLIB - Numerical Analysis Library - library for MetaTrader 5 
  4. AFIRMA - indicator for MetaTrader 5
  5. Fourier extrapolation of price - indicator for MetaTrader 5

The articles


 

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2020.05.29 08:02

U.S. Commercial Crude Oil Inventories news event: ranging for direction

2020-05-28 16:00 GMT | [USD - Crude Oil Inventories]

  • past data is -5.0M
  • forecast data is -2.5M
  • actual data is 7.9M according to the latest press release

[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

==========

"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.9 million barrels from the previous week."

==========

Crude Oil: range price movement by  U.S. Commercial Crude Oil Inventories news events 

Crude Oil: range price movement by U.S. Commercial Crude Oil Inventories news events

==========

The chart was made on MT5 with standard indicators of Metatrader 5 as well as the following indicators from CodeBase:

  1. MaksiGen_Range_Move MTF - indicator for MetaTrader 5
  2. ColorSchaffTriXTrendCycle - indicator for MetaTrader 5

 

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2020.06.12 17:13

Intra-Day Fundamentals - NZD/USD, USD/JPY and Brent Crude Oil: Michigan Consumer Sentiment

2020-06-12 15:00 GMT | [USD - UoM Consumer Sentiment]

if actual > forecast (or previous value) = good for currency (for USD in our case)

[USD - UoM Consumer Sentiment] = Level of a composite index based on surveyed consumers.

==========

From rttnews article :

  • "The preliminary report showed the consumer sentiment index for June climbed to 78.6 from 72.3 in May and 71.8 in April. Economists had expected the index to rise 75.0."

==========

NZD/USD: range price movement by UoM Consumer Sentiment news events

NZD/USD: range price movement by UoM Consumer Sentiment news events

==========

USD/JPY: range price movement by UoM Consumer Sentiment news events

USD/JPY: range price movement by UoM Consumer Sentiment news events

==========

Brent Crude Oil: range price movement by UoM Consumer Sentiment news events

rent Crude Oil: range price movement by UoM Consumer Sentiment news events

==========

Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

==========

Same systems for MT4/MT5:

The beginning

  1. ASCTrend system, the beginning, part #1
  2. ASCTrend system, the beginning, part #2
  3. ASCTrend system, the beginning, part #3
  4. ASCTrend system, the beginning, part #4 
  5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
  6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After 

  1. The main AscTrend thread is this one.
  2. Asctrend indicator in depth 
  3. ASCTREND SYSTEM summary (good EAs included)
  4. Brainwashing system/AscTrend system (MT5) - the thread

 

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2020.07.02 07:55

U.S. Commercial Crude Oil Inventories news event: daily bullish ranging waiting for direction of the strong trend to be started

2020-07-01 15:30 GMT | [USD - Crude Oil Inventories]

  • past data is 1.4M
  • forecast data is -0.9M
  • actual data is -7.2M according to the latest press release

[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

==========

"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.2 million barrels from the previous week."

==========

Crude Oil: range price movement by  U.S. Commercial Crude Oil Inventories news events 

Crude Oil: range price movement by U.S. Commercial Crude Oil Inventories news events

==========

Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

==========

The forum threads
  1. Key forum thread - Fast Fourier Transform - Cycle Extraction - the thead with FFTfiltr indicator and explanation
  2. New EA based on the !xMeter (!xMter based on Fast Fourier Transform) - the thread 
  3. Many FFT indicators with examples and explanations - the thread 
  4. Ticks Before The News - the thread with many FFT indicators and explanation how to trade

CodeBase

  1. dt_FFT - library for MetaTrader  
  2. LGLIB - Numerical Analysis Library - library for MetaTrader 4 
  3. ALGLIB - Numerical Analysis Library - library for MetaTrader 5 
  4. AFIRMA - indicator for MetaTrader 5
  5. Fourier extrapolation of price - indicator for MetaTrader 5

The articles


 

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2020.07.08 21:05

U.S. Commercial Crude Oil Inventories news event: daily bullish ranging: 43.70 is the key resistance for the bullish trend to be continuing

2020-07-08 15:30 GMT | [USD - Crude Oil Inventories]

  • past data is -7.2M
  • forecast data is -3.2M
  • actual data is 5.7M according to the latest press release

[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

==========

"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.7 million barrels from the previous week."

==========

Crude Oil: range price movement by  U.S. Commercial Crude Oil Inventories news events 

Crude Oil: range price movement by U.S. Commercial Crude Oil Inventories news events

==========

Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

==========

The forum threads
  1. Key forum thread - Fast Fourier Transform - Cycle Extraction - the thead with FFTfiltr indicator and explanation
  2. New EA based on the !xMeter (!xMter based on Fast Fourier Transform) - the thread 
  3. Many FFT indicators with examples and explanations - the thread 
  4. Ticks Before The News - the thread with many FFT indicators and explanation how to trade

CodeBase

  1. dt_FFT - library for MetaTrader  
  2. LGLIB - Numerical Analysis Library - library for MetaTrader 4 
  3. ALGLIB - Numerical Analysis Library - library for MetaTrader 5 
  4. AFIRMA - indicator for MetaTrader 5
  5. Fourier extrapolation of price - indicator for MetaTrader 5

The articles


 

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2020.07.22 19:33

U.S. Commercial Crude Oil Inventories news event: daily bullish; 44.25/44.86 are the nearest key resistance targets

2020-07-22 15:30 GMT | [USD - Crude Oil Inventories]

  • past data is -7.5M
  • forecast data is -2.1M
  • actual data is 4.9M according to the latest press release

[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

==========

"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.9 million barrels from the previous week."

==========

Crude Oil: range price movement by  U.S. Commercial Crude Oil Inventories news events 

Crude Oil: range price movement by U.S. Commercial Crude Oil Inventories news events

==========

The chart was made on MT5 with standard indicators of Metatrader 5 as well as the following indicators from CodeBase:


 

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2020.07.26 12:38

Crude Oil - daily bullish ranging for direction (based on the article)

Daily bullish ranging within 41.78/44.86 s/r levels waiting for the direction of the bullish trend to be continuing with 59.98 resistance level or the secondary correction to be started 37.22 bearish target to re-enter.

Crude Oil daily chart by Metatrader 5

  • "Crude oil prices have climbed with risk assets as market sentiment and economic activity rebound from the coronavirus lockdown."

Crude Oil weekly chart by Metatrader 5

  • "2Q-2020 GDP growth rates are due from several advanced economies this coming week amid high-profile equity earnings reports and a FOMC decision."

Crude Oil monthly chart by Metatrader 5

  • "Crude oil price action has staged a monumental recovery since the commodity traded in negative territory this past April. The rally in oil prices over recent weeks looks largely on the back of two bullish fundamental drivers: an OPEC+ deal to slash supply combined with a welcomed rebound in global energy consumption."

==========

Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

==========

Same systems for MT4/MT5:

The beginning

  1. ASCTrend system, the beginning, part #1
  2. ASCTrend system, the beginning, part #2
  3. ASCTrend system, the beginning, part #3
  4. ASCTrend system, the beginning, part #4 
  5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
  6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After 

  1. The main AscTrend thread is this one.
  2. Asctrend indicator in depth 
  3. ASCTREND SYSTEM summary (good EAs included) 
  4. Brainwashing system/AscTrend system (MT5) - the thread

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