Welcome to my series of macro outlooks where I put together threads focused on long term perspectives for major asset classes. My goal is to provide you with a long term view that I update on a monthly and sometimes weekly basis so that you can have the means to make wise and calculated trades in the shorter term.
I have threads for assets that are typically viewed by investors and traders as market leaders. Having an idea where the market leaders are heading will give you a compass to make decisions in smaller cap assets that tend to follow.
I will do my best to keep these threads purely technical in nature.
The Oil Market
Oil is undoubtedly a key market to follow. After all, the global economy is literally fueled by it. We use it to power our vehicles (personal and commercial), heat our homes, and much more. Understanding where the oil price is at, where it's heading, and why will give you insight on other markets.
Negative Oil
Recently we witnessed an unprecedented event (2020). The price of oil went negative as a supply glut forced sellers to pay buyers to transport store and keep their oil as their futures contracts expired.
This event will make it difficult if not impossible to do any charting on a logarithmic scale - at least on the long term.
I believe that this event has huge implications and its impact will be determined by the reopening of the economy (not TA but relevant).
If the economy is reopened quickly, the recent drop off in production will be met with a supply shortage due to a huge increase in demand. If the economy doesn't reopen, we will likely see low oil prices and a depression-like situation.
I don't trade oil much, but every once in a while I will chart the long term view.
Enjoy!
I have threads for assets that are typically viewed by investors and traders as market leaders. Having an idea where the market leaders are heading will give you a compass to make decisions in smaller cap assets that tend to follow.
I will do my best to keep these threads purely technical in nature.
The Oil Market
Oil is undoubtedly a key market to follow. After all, the global economy is literally fueled by it. We use it to power our vehicles (personal and commercial), heat our homes, and much more. Understanding where the oil price is at, where it's heading, and why will give you insight on other markets.
Negative Oil
Recently we witnessed an unprecedented event (2020). The price of oil went negative as a supply glut forced sellers to pay buyers to transport store and keep their oil as their futures contracts expired.
This event will make it difficult if not impossible to do any charting on a logarithmic scale - at least on the long term.
I believe that this event has huge implications and its impact will be determined by the reopening of the economy (not TA but relevant).
If the economy is reopened quickly, the recent drop off in production will be met with a supply shortage due to a huge increase in demand. If the economy doesn't reopen, we will likely see low oil prices and a depression-like situation.
I don't trade oil much, but every once in a while I will chart the long term view.
Enjoy!