Tag Archives: Crude Oil Price

Crude Oil

Crude Oil Futures Analysis – 25Sep2019

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Crude Oil Futures have been correcting almost daily since the large spike in prices on 15-16 Sep 2019 after the accident at Saudi Aramco refinery, which has about 5% of global capacity. That price spike was mostly on short covering and with the assurance from Saudi Aramco that their refinery output will be fully restored by end of Sep 2019.

WTI Crude Oil Futures are bullish above $54 per barrel, and they have already formed a strong base at 50-52 level. Brent Crude also has bullish outlook above $60 per barrel.

As shown in the above chart, there are multiple trend lines offering support to prices between 53-55 levels. These are suitable levels for buying for 1 dollar gain per trade.

Our Crude Oil Futures Trading Strategy is to buy at all levels between $50-55 per barrel, for selling between 55-57 levels. These trades are likely to restart from October first week. We will consider 50 as the absolute stop loss for all long positions.

Bonus Trades, Crude Oil

Crude Oil Futures Analysis – 17Aug2019

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Crude Oil Futures closed on Friday at $54.80 per barrel. In a week of non-stop global recession talk, this can be called a good performance! Crude Oil Futures did not go anywhere near their last week low near $50 per barrel.

Over the last few weeks, Crude Oil Futures are consolidating between $50-60 per barrel. The the range is getting narrower! It means we will see a big move of about 20% in crude oil – either up or down – at some point in the next few weeks. $50 per barrel is a strong support, so its possible that we may see an upmove move from around 52 to 64.

The above chart has non-linear analysis of Crude Oil Futures, and this indicates strong support even at 52-53 levels, which is just below the current price of 54-55. But this chart also show a strong resistance at 60-65 levels.

The downward sloping 200 day moving average line indicates that we can’t get too bullish here. Just need to buy and sell with 1-2 dollars profit per trade. Active high volume traders can also buy and sell for 25-50 cents profit per trade.

Our Crude Oil Futures trading strategy is to remain bullish while they are above $50 per barrel, and our default trade is to buy the correction and to take profit on rallies.

[Bonus Trade]
Buy Crude Oil Futures at 54, for Target 56, with Stop Loss 52.