Fibronacci
Long

Crude Oil (Brent) - Bullish Outlook still valid!

FX:UKOIL   Crude Oil (Brent)
194 6 7
Important: :-)
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.

Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading. My Analysis should not serve as any recommendation to buy or to sell. My analysis are just my ideas and opinion how market could develop.
I am not a professional trader and I am not living from trading. Profitability is yet not given with my Trade set up and I am still learning. Goal of publishing my ideas is to document it in my trading logbook. Also crazy ideas for stress tests may be posted. Keep this in mind before simply copy trading ideas which you find at trading view (I noticed a lot of people are doing it here).
ma.sanjuy
5 months ago
hello.... it seems that Oil is anyways doomed to die its death. Reasons are clear .. (a) Oil even if it was available for free, it is widely responsible for damaging the Earth's environment. (b) Greed of the Oil producers kept oil prices artificially high... as a result - world started looking at developing alternate energy sources. Solar energy is now bound to replace Oil in all spheres. (c) Major desert Kingdoms which have been so far manipulating oil prices are now seeing a death of this industry - hence heavily investing in solar power generation - as also trying to divest out of its own oil industry (SAUDI wanting to divest out of SABIC, which was always their cash cow)... (d) capital expenditure in Oil has been replaced by investment in SOLAR POWER systems - solar power production systems capital costs falls down with every passing day... (e) OIL is now doomed... i think the only application oil would have for future is for making of Greases and Lubricants and no more as fuel. (f) MOST of the oil producing countries have got major civil and military unrest.. Civil unrest is often caused because of sinful earnings. Let us not forget : FUNDAMENTALS EVENTUALLY TAKE OVER THE TECHNICALS.
Reply
Fibronacci ma.sanjuy
5 months ago
Hi Thanks for your comment. With this knowledge I will now assume that oil falls in the next hour to 5$. Nver heard about alternative energies. Guess this solar technology is something quite new which only a few people know.
I will take all my equity and short now the market. Puuh.. what a luck that you commented my chart :-)
Reply
ma.sanjuy Fibronacci
5 months ago
SOLAR is not new. it is now under development and discussion now since more than 2 or 3 decades.... I would encourage you to read the following URL... just one of thousands that float around...

http://ebm.cheetahmail.com/c/tag/hBX4fs5B8U0CRB8Zp1INsiRuz1h/doc.html?t_params=EMAIL%3Dsanjay%2540ammetal.ae

Solar is now being used for generating electricity and power... (Infact the prime source of all energy on this planet is SOLAR - including the Crude oil).. Necessity is the Mother all sciences. The relentless greed of the Oil producing countries pushed humanity to find alternate and SOLAR is the substitute.. Even long distance air flights have been tried and tested to run on solar power... Saudi is now constructing the world's biggest power station out of Solar... Solar is the only future... oil is NOT.

My dear friend, myself am long in oil... but the facts cant change just because You and I are long on oil.
Reply
Fibronacci ma.sanjuy
5 months ago
I did not thought that I would need to explain my sarcasm :-)


Infact although everybody on this world should know solar and windpower and even more alternative energies the crude oil market is bullish, furthermore we can observe a bullish trend channel and a possible inverted shoulder head shoulder...

The knowledge of the market players and their reactions due to their knowledge can be read in every chart.... this is what technical analysis is about....

Cheers
Reply
JorgenValentin
5 months ago
any update or thos this pattern hold.
Reply
Fibronacci JorgenValentin
5 months ago
pattern is still valid, but triggering of iSHS is only above neckline >52$
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out