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Energy Commodities

What 1-hour chart says? Fundamental Development: Oil up was on Friday morning in Asia. Investors now focus on the Organization of the Petroleum Exporting Countries and allies (OPEC+)’s meeting next week, where the bloc will decide the oil output. Brent oil futures inched up 0.03% to $101.86 and crude oil WTI futures jumped 0.28% to $96.69. Brent is set to climb nearly 5% for the week in its second straight weekly gain, while WTI is on track for a nearly 3% rise for the week, recouping the previous week’s losses. The dollar is softening, which usually leads to a rise in oil, as a weaker dollar makes crude cheaper for buyers holding other currencies. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 97 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 95.75 to 95 and there is very strong support zone at 94. Alternative Scenario: If XTIUSD will trade below 94 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 92 with the stop loss of 96.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil gained more than $1 a barrel on Thursday, extending gains from the previous session, buoyed by improved risk appetite among investors while lower crude inventories and a rebound in gasoline demand in the United States supported prices. Brent crude futures for September rose $1.20, or 1.1%, to $107.82 a barrel, after gaining $2.22 on Wednesday. U.S. West Texas Intermediate crude (WTI) was at $98.70 a barrel, up $1.44, or 1.5%, after rising $2.28 in the previous session. The U.S. Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point, in line with expectations, to cool inflation, while the dollar fell on hopes for a slower hiking path. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 96.35 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 96.35 to 96 and there is very strong support zone at 94.50. Alternative Scenario: If XTIUSD will trade below 94.50 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 92.75 with the stop loss of 96.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices held steady on Wednesday as concerns about weaker demand offset industry data that showed a larger-than-expected draw down in U.S. crude stockpiles. Brent crude futures were at $104.35 a barrel, down 5 cents, or 0.05%. U.S. West Texas Intermediate (WTI) crude rose 9 cents, or 0.1%, to $95.07 a barrel. WTI had climbed nearly $1 earlier in the session. After Tuesday's settlement, industry group the American Petroleum Institute said crude stocks in the United States fell by 4 million barrels last week. He U.S. government's Energy Information Administration releases its weekly oil report later on Wednesday. The Biden administration said on Tuesday it would sell an additional 20 million barrels of oil from the country's Strategic Petroleum Reserve as part of a previously announced plan to tap the facility to calm oil prices boosted by Russia's invasion of Ukraine and a recovery in demand following the COVID-19 pandemic. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 94.80 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 97 to 97.25 and there is very strong resistance zone at 99. Alternative Scenario: If XTIUSD will trade above 99 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 102 with the stop loss of 97. (Note- Crude oil Inventory at 8 PM (IST))
FXOPEN:XTIUSD
by RATONYCNC
EURUSD bears brace for 0.9870 with eyes on FedEURUSD remains pressured around a one-week low as traders prepared for the Fed’s verdict, likely a 0.75% rate hike and Powell’s aggression. That said, the pair’s clear downside break of the 50-SMA directs the quote toward the multi-year low marked earlier in the month around 0.9950. Given the RSI approaches the oversold territory, the pair’s declines past 0.9950 appears less expected. However, the bear’s rejection to step back from 0.9950 could open the doors for the further south-run towards the 61.8% Fibonacci Expansion (FE) of June 27 to July 21 moves, around 0.9870. Meanwhile, recovery remains elusive below the 50-SMA level surrounding 1.0165. Following that the previous weekly top around 1.0275 could gain the EURUSD buyers’ attention. However, a convergence of the 200-SMA and downward sloping resistance line from early June, close to 1.0340, should challenge the bulls. Also acting as the key upside hurdle is the six-week-old horizontal area near 1.0360-65. Overall, EURUSD is likely to decline further towards refreshing the yearly bottom. However, it all depends upon the Fed’s actions. Hence, the trader’s discretion is required.
by MTradingGlobal
What 1-hour chart says? Fundamental Development: Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key oil and natural gas supplier to the region, cut gas supply through a major pipeline. Brent crude futures for September settlement rose $1.66, or 1.6%, to $106.81 a barrel, extending a 1.9% gain in the previous day. U.S. West Texas Intermediate (WTI) crude futures for September delivery increased $1.47, or 1.5%, to $98.17 a barrel, having gained 2.1% on Monday. The U.S. central bank is widely expected to raise interest rates by 75 basis points at the conclusion of its policy meeting on Wednesday. That increase may reduce economic activity and thus affect fuel demand growth. Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 95.50 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 99 to 99.25 and there is very strong resistance zone at 101. Alternative Scenario: If XTIUSD will trade above 101 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 103 with the stop loss of 99.
FXOPEN:XTIUSD
by RATONYCNC
MCX- CRUDE OIL - 15 min SellMCX Crude Oil Futures MCX:CRUDEOIL1! giving signs of exhaustion after recovering from downfall . expecting the fresh sell off trend to begin for potential targets zone . As per the Pattern expect the selling pressure to remain below 7800 levels . Do Comment , share and "LIKE" if you find this info valuable to use . Happy Hunting , Chintamani Disclaimer. I am not SEBI registered analyst. My studies are for educational & General purpose only. Please Consult your financial advisor if you have plans of trading or investing. You yourself hold sole responsibility of profits and your losses arising of above shared info
MCX:CRUDEOIL1!Short
by Chintamoney
What 1-hour chart says? Fundamental Development: Oil prices dropped on Monday, extending a recent losing streak on concerns that an expected rise in U.S. interest rates would weaken fuel demand. Brent crude futures for September settlement had fallen 67 cents, or 0.7%, to $102.53 a barrel, down for a fourth day. U.S. West Texas Intermediate (WTI) crude futures for September delivery slid 77 cents, or 0.8%, to $93.93 a barrel, also down for a fourth day. Oil futures have been volatile in recent weeks, as traders have tried to reconcile the possibilities of further interest rate hikes, which could limit economic activity and thus cut fuel demand growth, against tight supply from disruptions in trading of Russian barrels because of Western sanctions amid the Ukraine conflict. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 95 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 95 to 95.25 and there is very strong resistance zone at 97.25. Alternative Scenario: If XTIUSD will trade above 97.25 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 98.75 with the stop loss of 96.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices climbed in Asia trading on Friday, rebounding from previous declines amid supply tightness and geopolitical tensions, even though weakened demand in the United States has cast a shadow on the market this week. Brent crude futures raised $1.61, or 1.6%, to $105.47 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained $1.43, or 1.5%, to $97.78 a barrel. WTI has pummeled over the past two sessions after data showed that U.S. gasoline demand had dropped nearly 8% from a year earlier in the midst of the peak summer driving season, hit by record prices at the pump. In contrast, signs of strong demand in Asia propped up the Brent benchmark, putting it on course for its first weekly gain in six weeks. Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 96.50 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 97.50 to 97.75 and there is very strong resistance zone at 100. Alternative Scenario: If XTIUSD will trade above 100 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 102 with the stop loss of 98.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices fell on Thursday for a second straight session, as demand concerns outweighed tight global supply after U.S. government data showed tepid gasoline demand during the peak summer driving season. Brent crude futures dropped 77 cents, or 0.7%, to $106.15 a barrel by 0427 GMT after slipping 0.4% in the previous session. U.S. West Texas Intermediate crude futures fell 88 cents, or 0.9%, to $99.00 a barrel following a 1.9% drop on Wednesday. Oil prices have been volatile, as traders have had to square tighter global supply because of the loss of Russian barrels following the country's invasion of Ukraine, with recessionary worries that could weaken energy demand. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 99.50 as per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 99.50 to 99.75 and there is very strong resistance zone at 101. Alternative Scenario: If XTIUSD will trade above 101 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 102.55 with the stop loss of 99.55.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices edged down on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product, demand weakens. Brent crude prices for September fell 37 cents, or 0.3%, to $106.98 a barrel, while U.S. West Texas Intermediate (WTI) crude for August slipped 69 cents, or 0.7%, to $103.53 per barrel. The WTI contract will expire later on Wednesday. The more active September WTI contract was at $100.24 a barrel, down 50 cents. Oil prices whipsawed in the previous session, caught in a tug-of-war between supply fears due to Western sanctions on Russia and pressures on indications from central bankers that they will raise interest rates to combat inflation. Short Term Technical View: In 1-hour chart, XTIUSD is trading below middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 98.86 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 98 to 97.75 and there is very strong support zone at 96. Alternative Scenario: If XTIUSD will trade below 96 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 94.55 with the stop loss of 97.55. ( Note- Crude Oil Inventory Data Time : 8:00 pm IST )
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development Oil prices ran out of steam on Tuesday after gaining more than $5 a barrel in the previous session with concerns that surging crude will feed into a demand-killing recession slightly outpacing continued worries about tight supply. Brent crude futures for September settlement fell 43 cents to $105.84 a barrel. The contract rose 5.1% on Monday, the biggest percentage gains since April 12. WTI crude futures for August delivery dipped 28 cents to $102.32 a barrel. The contract climbed 5.1% on Monday and the largest percentage gain since May 11. The August WTI contract expires on Wednesday and the more actively traded September future was at $98.98 a barrel, down 44 cents. Short Term Technical View: In 1-hour chart, XTIUSD is trading above upper line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 97.55 as per today 1-hour chart, my view is buy in dip strategy is good for XTIUSD. Buy range of XTIUSD is 97.55 to 97.25 and there is very strong support zone at 95.55 Alternative Scenario: If XTIUSD will trade below 95.55 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 93.55 with the stop loss of 97.
FXOPEN:XTIUSD
by RATONYCNC