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Sergey Golubev, 2018.02.09 06:37
Crude Oil - weekly ranging for correction (based on the article)
Weekly price is on bullish ranging within the narrow 71.25/61.99 support/resistance levels for the bullish trend to be resumed or for the secondary correction to be started. The bearish reversal level is 51.96, and if the price breaks this level to below so the global bearish trend will be started for the Brent Crude Oil.
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:
Sergey Golubev, 2018.02.26 07:47
Crude Oil - weekly bullish ranging near the bearish reversal levels (based on the article)
Weekly price broke 100-SMA/200-SMA area for the good breakout with the bullish reversal. The price is on ranging within 71.25 resistance for the bullish trend to be resumed and 61.74 support for the weekly bearish reversal to be started.
The chart was made on D1 timeframe with standard indicators of Metatrader 5 except the following indicator (free to download):
Sergey Golubev, 2018.03.14 11:16
Crude Oil Price Forecast: bearish ranging near bullish reversal levels (based on the article)
Daily price is on ranging near and below Senlou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. If the price breaks 66.33 resistance to above so the bullish reversal of the daily price will be started, if not so the price will be contiuing on bearish ranging waiting for direction.
The chart was made on daily timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:
Sergey Golubev, 2018.03.17 11:57
Weekly Fundamental Forecast for Crude Oil (based on the article)
Crude Oil - "The weekly EIA Crude Oil Inventory Report displayed a further reduction in refined product stockpiles that reached their lowest levels since Spring 2015. At the same time, refinery utilization is ramping up intake at a pace surpassing previous years that was enough to calm sellers who saw the first crude build in inventories at the Cushing, OK storage hub in 12 weeks. The headline data saw a 6.27 million barrel decline in gasoline inventories and a larger than expected 5.02 million increase in crude inventories. In short, while upstream continues to produce, downstream continue to buy keeping the Bulls happy. The International Energy Agency (IEA) supported the global oil market by saying shale growth is helping to balance, as opposed to drown the market. The IEA’s focus in their monthly report was the falling supply of oil from Venezuela that has cut back on high levels of relative production due to their domestic economic crisis. As such, the global oil stockpile surplus is expected to dissipate by year-end putting the oil market in a decisive deficit helping to support crude oil price further."
The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.
Sergey Golubev, 2018.03.24 13:54
Crude Oil - "The forecast for next week will remain at bullish, largely driven by a combination of geopolitics and technicals. It’s unlikely that the scenario around Iran will resolve anytime soon, and growing tensions around the fluid topic of trade wars will likely bring a weaker US Dollar which could, in-turn, help to push Oil prices higher. Prices appear poised to revisit the three-year highs, and just above that is an interesting point of resistance as the 50% Fibonacci retracement of the 2014-2016 sell-off in Oil prices, and if we can re-engage above that level at 66.87, the door opens for a test of the psychological level at $70."
Sergey Golubev, 2018.04.02 16:41
Intra-Day Fundamentals - Dollar Index, Brent Crude Oil and EUR/USD: ISM United States Manufacturing PMI
2018-04-02 15:00 GMT | [USD - ISM Manufacturing PMI]
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - Durable Goods Orders] = Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.
From official report :
Dollar Index M1: range price movement by ISM United States Manufacturing PMI news events
Brent Crude Oil M1: range price movement by ISM United States Manufacturing PMI news events
EUR/USD M5: range price movement by ISM United States Manufacturing PMI news events
Sergey Golubev, 2018.04.04 19:44
U.S. Commercial Crude Oil Inventories news event: intra-day bullish reversal; daily bullish ranging near bearish reversal
2017-04-04 15:30 GMT | [USD - Crude Oil Inventories]
[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 4.6 million barrels from the previous week."
Crude Oil M5: bullish reversal. The price broke Ichimoku cloud to above for 67.89 resistance level to be tested for the bullish trend to be continuing,
If the price breaks 67.89 resistance level to above on M5 close bar so the bullish trend will be continuing.If the price breaks 67.65 support level to below on M5 close bar so the secondary correction within the primary bullish trend will be startedIf not so the price will be on ranging within the levels.
Crude Oil Daily: bullish ranging near bearish reversal. Daily price is on ranging to be near and above Ichimoku cloud for 67.49 support level to be tested for the possible bearish reversal.
Chart #1.The chart was made on MT5 with BrainTrading system (MT5) from this thread (free to download) as well as the following indicators from CodeBase:
All about BrainTrading system for MT5:
Chart #2.The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:
Sergey Golubev, 2018.04.07 18:35
Weekly Fundamental Forecast for Crude Oil (based on the article)
Crude Oil - "Crude oil prices came under pressure this past week as trade war fears and an overall decline in sentiment overshadowed developments on the production and inventory front. During the beginning of the week, US stocks were in the red coming out of a holiday, weighed down by the technology sector as President Donald Trump continued to attack Amazon.com. The week ahead is loaded with event risk for oil. Starting with the usual, API inventory estimates could give an idea of what’s to come on Wednesday when official EIA data crosses the wires. In addition, keep an eye out for March’s US CPI report which is also due on the same day. Headline inflation is expected to rise by the most in one year at 2.3% y/y. If the US Dollar rises on such an outcome, oil prices could fall since they are denominated in USD terms on global markets."
Sergey Golubev, 2018.04.15 10:22
Crude Oil - "Crude oil was at the epicenter of geopolitical risk last week due to Yemeni missiles heading for Riyadh being intercepted and US President Trump threatening a barrage of missiles toward Syria. In a change of events, the reduction of trade war threats was replaced with possible real war, which was a concoction that caused oil bulls to bid the commodity market to the highest levels since 2014 and pushed WTI Crude closer to $70/bbl. Traditionally, volatility is accompanied by downside price shocks. However, recently we’ve seen 2-month realized volatility at the highest levels of the year with price pushing to the highest levels since December 2014."
Sergey Golubev, 2018.04.19 16:14
Crude Oil - bullish breakout (based on the article)