OIL IS CALLED BLACK GOLD...WHERE IS IT GOING?
Hi again,
I would like to share my journey with Oil. Also called the black Gold. ( I don't want to offend people...and this is not an advice!)
There is lot's going on with oil. After a steady year in 2019 we have lot's of movement in 2020 with Oil and there is more to come!
Personally i always hope to see markets go up....Bull in my heart. It is now in a range as you can see in the charts and we can expect both ways! So be careful. I personally don't know if the rally up is now finished or if it will go up a bit more. I hope the last scenario. But i also keep in mind that it can fall back down easily. Beside aks, supply and demands....there will always be hurricanes, economic crisis and more covid19 cases OR a covid19 vaccin in the neighbourhood to influence the price of gold!
I will hold my (small) buy positions for now. If i see a nice pullback, not too much i will add a small buy. I will open a sell if necessary if i do not see further move up. All my targets and resistance lines are marked in my chart as you can see. Hope you will advantage or insights by checking my charts. I believe sharing is caring!
Good luck and safe trading everyone!
I would like to share my journey with Oil. Also called the black Gold. ( I don't want to offend people...and this is not an advice!)
There is lot's going on with oil. After a steady year in 2019 we have lot's of movement in 2020 with Oil and there is more to come!
Personally i always hope to see markets go up....Bull in my heart. It is now in a range as you can see in the charts and we can expect both ways! So be careful. I personally don't know if the rally up is now finished or if it will go up a bit more. I hope the last scenario. But i also keep in mind that it can fall back down easily. Beside aks, supply and demands....there will always be hurricanes, economic crisis and more covid19 cases OR a covid19 vaccin in the neighbourhood to influence the price of gold!
I will hold my (small) buy positions for now. If i see a nice pullback, not too much i will add a small buy. I will open a sell if necessary if i do not see further move up. All my targets and resistance lines are marked in my chart as you can see. Hope you will advantage or insights by checking my charts. I believe sharing is caring!
Good luck and safe trading everyone!
Comment:
Oil dropped a lot. I am going to add some buys of small pieces.
Comment:
Oil is nice to trade because it is not too much influenced by one cause..like DXY(USD) with Gold is. I see Oil is still moving according to my analysis including nice pullbacks to enter and sell.