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Energy Commodities

What 1-hour chart says? Fundamental Development: Oil was down on Monday morning in Asia as fears of an economic slowdown outweighed the supply tightness amid lower output from the Organization of the Petroleum Exporting Countries (OPEC).Brent oil futures inched up 0.05% to $111.66 and crude oil WTI futures inched up 0.01% to $108.42. In addition, a strong USD also weakens broad commodity markets, including crude prices.” In the U.S. and elsewhere, signs of economic weakness are becoming more apparent with U.S. consumer sentiment dropping to a record low in June. The U.S. Federal Reserve reiterated last week its resolution to bring down inflation, increasing concerns of a recession following interest rate hikes. Short Term Technical View: In 1-hour chart, XTIUSD is trading upper line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 105.85. As per today 1-hour chart, my view is buy in deep strategy is good for XTIUSD. Buy range of XTIUSD is 105.85 to 105.55 and there is very strong support zone at 104. Alternative Scenario: If XTIUSD will trade below 104 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 102 with the stop loss of 105.50.
FXOPEN:XTIUSD
by RATONYCNC
Simple Trade Setup | Crude Oil | 04-07-2022 [INTRADAY]MCX:CRUDEOIL1! Trade Setup for 04-07-2022 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
MCX:CRUDEOIL1!
by Trading_hawk
NaturalGas Pull-back is to start as per Elliot Wave AnalysisAfter sharp fall from top of the wave 5 or we can say top of June month, it has fallen in five subdivided pattern as a wave A, which clearly shows that correction is in zigzag pattern, we all know some basic rules for zig-zag correction, that it comes in three subdivisions like A-B-C, and wave A always subdivides into an impulse or leading diagonal, and wave B always subdivides into a zigzag, flat, triangle or combinations, so here we are assuming that wave A has almost at the wedge of completion, and possibly wave B his ready to start as a A-B-C towards north directions, which can lead towards 61.8% of recent fall (wave A), which is near $7.571 or more towards $7.976, on the way down $5.30 is a support area to watchout for. However, pullback will just be a counter trend rally and once wave B rally is completed, then wave C will unfold, and decline of wave C should probably be equal to wave A. Overall scenario Sub divisions in wave A Fibonacci retracement levels Trigger point Can be like this as per rules Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
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by RK_Chaarts
1
Crude oil eyes to revisit sub-$100 area as recession fears escalFailures cross the key SMAs join descending RSI line, not oversold, to keep crude oil sellers hopeful amid economic slowdown chatters. The black gold, however, needs to stay below the weekly support line, around $107.00 by the press time, to direct bears towards the last monthly bottom of $101.00. In a case where the energy benchmark fails to recover from $101.00, the odds witnessing a south-run towards May’s low of $97.57. On the contrary, recovery moves remain less convincing until staying below the weekly top of $112.70. Ahead of that, the 50% Fibonacci retracement (Fibo.) of May-June upside and convergence of the 100-SMA, 200-SMA and 38.2% Fibo, respectively near $109.60 and $112.10-20, could entertain short-term buyers. Even if the crude oil prices cross the $112.70 hurdle, multiple resistances near $116.00 will challenge the commodity bulls before directing them to June’s peak of $121.43. Overall, crude oil’s latest break of the short-term support line keeps sellers hopeful amid economic pessimism. That said, today’s Eurozone inflation and US ISM PMI will be important to watch for clear directions.
FX:USOILSPOT
by MTradingGlobal
What 1-hour chart says? Fundamental Development: Oil prices edged higher on Thursday after dipping in early Asian trade, as concerns about global supply tightness outweighed a build in U.S. gasoline and distillate inventories. Brent crude futures for September, the more actively traded contract, rose 63 cents, or 0.6%, to $113.08 a barrel .The less liquidity traded August contract, which expires Thursday, was at $116.08, down 18 cents, or 0.2%. U.S. West Texas Intermediate (WTI) crude futures climbed 49 cents, or 0.5%, to $110.27. Crude inventories fell by 2.8 million barrels in the week to June 24, far exceeding analysts' expectations in a Reuters poll for a 569,000-barrel drop, U.S. Energy Information Administration data showed, even as U.S. gasoline and distillate stockpiles climbed. 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 109.45. As per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 109.30 to 109.45 and there is very strong resistance zone at 110.51. Alternative Scenario: If XTIUSD will trade above 110.51 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 111.51 with the stop loss of 109.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil was up on Monday morning in Asia as investors are looking for more clues from the G7 meeting this week on Russian oil exports and a revival of the Iran nuclear deal. Brent oil futures inched up 0.06% to $109.16 and crude oil WTI futures stabilized at $107.62. Oil prices remained well supported above $100 a barrel as crude and oil product supplies remained tight after the West posed sanctions on Russian oil. Leaders of the Group of Seven (G7) expected to discuss ways to tackle rising energy prices. Measures include a possible price cap on Russian crude and oil products exports, which might curb Russia’s revenue and at the same time reduce the damage to other economies. Short Term Technical View: In 1-hour chart, XTIUSD is trading at middle line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 105.45. As per today 1-hour chart, my view is sell on rise strategy is good for XTIUSD. Sell range of XTIUSD is 107 to 107.25 and there is very strong resistance zone at 108.50. Alternative Scenario: If XTIUSD will trade above 108.50 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 109.95 with the stop loss of 107.50.
FXOPEN:XTIUSD
by RATONYCNC
JSW ENERGY -- INTRADAY SETUP - 27/06/2022JSW ENERGY -- HOURLY CHART -- INTRADAY SETUP --27/06/2022 1. trendline breakout seen at hourly chart, last hourly candle is trendline breakout candle. 2. stock seen above 44 SMA, above adaptive moving avg, above 200 hull moving avg. 3. Stock seen trading at upper channal on hourly chart, currently taken lower support at channel 4. RSI on daily chart move above 30 from extream oversold level 5. Daily chart also indicate uptrend after sharp fall above 212 level 6. on intraday buy at current level @ 208 for target 210-215-220 stop loss 802 7. intraday support 205 resistance 215-220 ** THIS IDEA IS FOR EDUCATIONAL PURPOSE ** trade at own risk !! HAPPY TRADING !
NSE:JSWENERGYLong
by champtrade111
Simple Trade Setup | CRUDEOIL [JULY22 FUTURE CONTRACT] |INTRADAYMCX:CRUDEOILN2022 b]Trade Setup for 27-06-2022 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
MCX:CRUDEOIL1!
by Trading_hawk
What 1-hour chart says? Fundamental Development: Oil was down on Friday morning in Asia as fears of slower demand from slowing U.S. economic growth and supply concerns weighed on the market. Brent oil futures inched down 0.09% to $109.94 and crude oil WTI futures gained 0.14% to $104.42. The Organization of the Petroleum Exporting Countries and allies (OPEC+) producers including Russia will likely stick to a plan to increase output by 648,000 barrels a day in August, which is hoping to bring down crude prices as U.S. President Joe Biden plans to visit Saudi Arabia, according to Reuters. Wednesday’s U.S. crude supply data from the American Petroleum Institute showed a build of 5.607 million barrels for the week ended June 17. 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 103.75. As per today 1 hour chart my view is sell on rise, this strategy is good for XTIUSD. Sell range of XTIUSD is 104.75 to 105 and there is very strong resistance zone at 106. Alternative Scenario: If XTIUSD will trade above 106 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 108.64 with the stop loss of 104.75.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil was down on Thursday morning in Asia as investors are worried that tightening monetary policy could trigger a recession and dampen fuel demand. Brent oil futures fell 2.31% to $109.16. In addition, crude oil WTI futures divided 2.61% to $103.42. Investors are concerned about a recession caused by tightening monetary policy. U.S. Federal Reserve is not trying to trigger a recession to tame inflation but is fully committed to bringing down prices, Fed Chair Jerome Powell said on Wednesday. U.S. President Joe Biden called on Congress to suspend a federal tax on gasoline to bring down soaring fuel prices and offer some relief to American families before summer peak. Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 104.35. As per my view buy on dip, strategy is good for XTIUSD. Buy range of XTIUSD is 103 to 102.75 and there is very strong resistance zone at 102. Alternative Scenario: If XTIUSD will trade below 102 and sustain above in U.S. Session so it will be, give great opportunity to sell with the target of 100 with the stop loss of 103.25.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil was down on Wednesday morning in Asia as U.S. President Joe Biden is set to push for U.S. fuel cost cuts. Brent oil futures slid 3.03% to $111.18 and crude oil WTI futures dived 3.37% to $105.83.U.S. President Joe Biden is expected on Wednesday to call on Congress to temporarily suspend a federal tax on gasoline to bring down soaring fuel prices and alleviate the pressure on consumers. Seven oil companies are set to meet Biden on Thursday, under pressure from the White House to bring down fuel prices. Short Term Technical View: In 1-hour chart, XTIUSD is trading below line of Bollinger band indicator. As per RSI Indicator showing weakness in 1-hour chart, XTIUSD pivot level is 108.30. As per my view sell on rise, strategy is good for XTIUSD. Sell range of XTIUSD is 107 to 107.25 and there is very strong resistance zone at 108.50. Alternative Scenario: If XTIUSD will trade above 108.50 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 109.50 with the stop loss of 107.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices rose 1% on Tuesday, clawing back more of last week's losses as investors focused on tight supplies of crude and fuel products rather than concerns about a recession dampening demand going forward. Brent crude futures rose $1.08, or about 1%, to $115.21 a barrel, adding to a 0.9% gain on Monday. The benchmark contract fell 7.3% last week in its first weekly fall in five. U.S. West Texas Intermediate (WTI) crude futures for July, which expires later on Tuesday, rose to $112.01 a barrel, up $2.45, or 2.2%, from Friday's close. There was no settlement on Monday, which was a U.S. public holiday. WTI dropped 9.2% last week. Short Term Technical View: In 1-hour chart, XTIUSD is trading Upper line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD pivot level is 108.30. As per my view buy on dip, strategy is good for XTIUSD. Buy range of XTIUSD is 108.30 to 108 and there is very strong support zone at 106.75. Alternative Scenario: If XTIUSD will trade below 106.75 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 105.25 with the stop loss of 108.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil prices edged lower on Monday, reversing earlier gains, as concerns about slowing global economic growth and fuel demand outweighed worries about tightening supplies. Brent crude futures slipped 3 cents to $113.09 a barrel, after rising as much as 1% earlier. Front-month prices tumbled 7.3% last week, their first weekly fall in five. U.S. West Texas Intermediate crude was at $109.42 a barrel, down 14 cents, or 0.1%, after rising more than $1 earlier. Front-month prices dropped 9.2% last week, the first decline in eight weeks. Oil from Russia, the world's second-largest exporter, remains out of reach to most countries because of Western sanctions over Moscow's invasion of Ukraine, actions that Russia calls a "special operation". 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 is trading below pivot level 110.48. As per my view sell on rise, strategy is good for XTIUSD. Selling range of XTIUSD is 110.48 to 110.75 and there is very strong resistance zone at 112. Alternative Scenario: If XTIUSD will trade above 112 and sustain above in U.S. Session so it will be, give great opportunity to buy with the target of 113.50 with the stop loss of 110.85.
FXOPEN:XTIUSD
by RATONYCNC
What 1-hour chart says? Fundamental Development: Oil was down on Friday morning in Asia, weighed down by demand concerns following global interest rate hikes. Brent oil futures were down 0.62% to $119.07 and crude oil WTI futures were down 0.69% to $116.78. The Bank of Japan Friday decided to keep policy ultra loose despite rising inflation while some other global central banks are adopting tight monetary policies. The U.S. imposed sanctions on Chinese, Emirati companies, and a network of Iranian firms that help with Iran’s petrochemicals exports, aiming to pose pressure on Tehran to revive the 2015 Iran nuclear deal. Short Term Technical View: In 1-hour chart, XTIUSD is trading above middle line of Bollinger band indicator. As per RSI Indicator showing bullishness in 1-hour chart, XTIUSD is trading above pivot level 113.50. As per my view buy on dip, strategy is good for XTIUSD. Buying range of XTIUSD is 113.50 to 113 and there is very strong support zone at 112. Alternative Scenario: If XTIUSD will trade below 112 and sustain below in U.S. Session so it will be, give great opportunity to sell with the target of 110.75 with the stop loss of 113.75.
FXOPEN:XTIUSD
by RATONYCNC