Energy commodities are mostly hard commodities that are mined or extracted. They include fossil fuels like Coal, Oil (in various blends and grades) and Natural Gas. The price of these commodities is one of the most watched economic indicators by traders, economists, governments and businesses given the correlation between economic growth and energy consumption. Their price is influenced by global economic up- or downturns, by production cuts or increases and by emerging green energies. Their price influences other commodities since it takes energy to produce them.
Energy commodities are widely used in industrial applications and they drive inflation, which makes them an effective hedge against it. You can trade or invest in energy commodities through futures contracts, options, exchange-traded funds and stocks of companies in the energy sector. Oil is the most widely traded commodity worldwide and the Oil room is one of the most popular custom chats on TradingView. We also have an active Natural Gas room where traders talk in real-time about where the market is going.
WTICOUSD up to 40 usd free fall. The exchange rate builds a second downward wave of a dual wave structure. Its size may be similar to the first one. Therefore, the current decrease could be about 23% from the current level. The exchange rate drops close to 39-40usd. Correction is made when the exchange rate is in contact with the axis of the wave axis. No further ...
WTICOUSD is approaching a round. At the same time, it can not be excluded even to a 58usd level. We do not expect any further downward movement. The upward dual wave structure has a target price of 69 usd.
December is quiet...
View on USD/CAD atm...
Stop loss very very tight but cant complain purely for banter....
3rd bounce... abcd pattern.... fib levels hit..... who knows its just art anyway
Carbon as a market has been following very closely technical signs in 2018. European Commision introduced Market Stability Reserve (MSR) a policy that aims to reduce the surplus of carbon allowances we are currently seeing in this market.
This analysis argues that EUAs tested the 21.40 three times but failed to breach it. That said, the triple top formation never ...
With the resistance broken and a successful retest i would strongly advise buying into crude oil because there is also a meeting on the 6th of December which should boost the oil price right up.
This is my first post, so I'll keep it short.
My Impressions...
Fundamentally: Bullish. This company is expected to start pumping oil in early 2019. Keep an eye on oil prices.
Technically: After going below the 200MA on daily chart, I think there's strong potential to get a better entry so rather than illustrate a stop, I've attempted to include an accumulation ...
Thought i would post this as an update.
My bias on this pair has changed...
Price failing to go higher today made me look further into this and see what is really going on...
200EMA is a magnet for price 1.3000 is next.
Oil saw massive correction last week and it still seems to be in down trend.
we can expect a short term relief rally to the targets marked in green.
WATCHOUT FOR BREAKOUT FROM THE CHANNEL
DISCLAIMER:
The Legal stuff - I'm not financial adviser and all the charts posted are for paper trading .
P.S make sure you give me a like, that way you get updates as I ...
Not only did I rate the exchange rate movement, but I made a mistake in calculating the correction level. That is why I re-evaluate the course of the entire exchange rate movement. Based on the current data, it is assumed that the exchange rate will continue to decrease. Currently, a correction has begun which may last up to 58usd. Then we expect another downward ...
NG broke out of a symmetrical triangle in textbook fashion. I'm long from the break out and targeting the resistance line in a larger channel formation, although I took some profit today.
I'm an optimist by nature, and I'm glad to be long something in my portfolio.
I came into the Oil market 3 weeks ago, ready to short the break. Shamefully, I was stopped out before my trade could progress. Stops were too tight. A painful lesson.
Oil has now crashed through my initial target (purple), and seems to be aiming at 45.
This was a missed trade.
This 1W chart of WTI Crude Oil gives a great example of many confluences of support.
- Hitting trend line support
- Hitting 0.382 fib from Feb 2016 low
- Hitting 0.5 fib from June 2017 low
- Horizontal resistance possibly turning into support
- 100 MA support
- 1D RSI of 20, signalling oversold after 23% drop in 27 days
Sentiment in this 27 days has flipped ...
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