The move in oil is just starting, and I expect the price to wobble early next week before surging to the $80+ zone.
The larger picture provides for the short-lived surge and the price ranging until the end of summer-early September.
All this comes from a bigger picture of unfinished correction that started in March 2022. Such an outlook broadly coincides with...
Brent Oil looking long as well. How ever, it's not strong.
If you take it, it will go slowly up, but it will be quite week.
I prefer to wait for a short one at the last top.
''One way to control inflation is to have cheap Oil around'' the Fxprofessor
News:
Brent crude oil price down below $67 per barrel on London’s ICE first since May 24
The price of WTI oil also went down by 2.52%
MOSCOW, August 19. /TASS/. The price of futures contracts of Brent crude oil for October 2021 delivery went down by 2.18% on London's ICE on...
After lagging behind the other indices is it the QQQ's turn to break out to a new high? QQQ has obviously been leading (not saying much) as of late. Growth seems to be ready to explode again.
So much short interest up here without a doubt. We have grinded the way up and that's not a bad thing necessarily.
Looking for a bit of a move up overnight/premarket then...
New to the commodities but it's something I want to focus on more. Just sharing a very short view here:
We see a clear rejection of the 30> levels on UK Oil. This is specifically visible on the daily chart, with a bearish 2-bar reversal.
This level got rejected, we are in clear downtrend looking at the moving averages, and we closed below 30. Now we are hovering...
Hello Traders,
Would just like to remind you that we still need oil to get to space.
Gold is a heat reflective material required for space travel and atmospheric re-entry, so please hold and sell your gold accordingly.
Also, Brent changed their ticker from BRENT to BURN1!.
MACD signal line will cross going upward on the month-view around 69 dollars according to...
Tabloids and analysts call for $100 amid Iran fallout of supply chain.
This simple chart confirms this fear as the contact area within a possible large triangle
sits right between 95 and 98 levels.
There is a chance that we have a Head And Shoulders Pattern shaping on the chart of Brent Crude Oil.
Breakdown of the Neckline needed to succeed to the target at 52.30. (The height of the Head subtracted from the Neckline).
This idea accords with my ealrier 4-hour chart idea of the downside in the Brent (see related)
It looks like oil has topped recently and now is heading south to hit the previous major low in the sub-30 area.
Wait the breakdown of the corrective structure for confirmation.
Bearish divergence could play out soon.
