olly_price
Long

Oil: rising wedge providing possible movements

FX:UKOIL   Crude Oil (Brent)
This rising wedge indicates a number of possibilities for the next movement in brent oil             .

Could be a trigger for a bearish move down, or provide further momentum up to the mid $50s.

I think that given the views of the new Saudi oil             minister al-Falih and the possible beginnings of a market rebalance following Saudi Arabia successfully pushing a chunk of the US out of the market (see Goldman Sachs), plus a wave of petrol demand in India, this will trigger the next move up towards $56 per barrel.
Trade active: Short
Comment: Nearly there
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out