now i get confirmation that crude oil gonna go higher check out bank levels and join us enjoy profit
Watch The Fib Level and Trendline and then Trade If Crosses Then Close Trade Wait For Higher Levels To Get Active Most Probably Crude Might Not Cross 59.64
Market is closed. Let's have fun:-) Supply Cut Extension ARAMCO IPO Iran Sanctions Slowing Global Economy and Global Growth Concerns Decreasing Global Oil Demand Follow the lines and arrows
The shortened version of our Crude Oil Forecast: We have started to sell Crude Oil at 65 $ and reached our target at 52.80 $. What is next? What were the reasons for the sell-off? What is driving the market? 1. The supply and demand balance strongly indicates that oversupply will last for some time to come. 2. Global Growth concerns. I have mentioned several...
So, I posted a chart this morning and oil has moved further up which is within calculations and if this chart also fails, then I will post my new opinion on Monday. For now, happy trading. My sl is at 64.51 for leg B to C DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
After hitting the lows yesterday, my opinion is that crude oil will once again hit 64 at point B before going down to C before a last leg up into 64 at point D and then back down again. You may take C and D trades, which is an opportunity for buy & short if B plays out. Please not that targets aren't always going to be on point, it may go slight higher or slightly...
This is one of my take on oil on the daily, I might upload my 2nd opinion. I will post an intraday opinion soon. If you followed this chart that I posted yesterday, then both your target would have been met by now. Could go down further but for now, I'm out. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
This is a slight tweak to my short call chart yesterday in the 1 hour view. This is my opinion on oil. There is still a potential for more upside before we go down as stated yesterday, up to you if you want to wait for more upside before shorting. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
My pattern earlier became invalidated once we broke 64.65. This has the potential to revisit today's low again. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
From here, I believe we will be going down to 63.37 where buyers may want to come in again. Disclaimer This chart is an opinion based chart only. Please trade at your own risk.
Oil has now reached the 0.618 fibonacci line although it has gone past it slightly, which is ok. In my opinion, it hasn't reached a resistance line yet which means this has the potential for more further upside around 67-68 but of course it could just go down from here. Oil can go straight down from here to 60.70 before going back up to 63.22 and then another...
U.S. WTI and Brent crude oil futures closed the week higher on Friday. Which fundamentals drove Crude Oil prices higher this week? Deeper-than-expected OPEC-led production cuts : Saudi Arabia is delivering on the cuts it pledged, and I have no doubt they’ll deliver on pledges to do more. As I mentioned in my previous articles the reason of the big drop on Oil...
Pullbacks are buying opportunities Fundamentals: Bullish: OPEC + solid cuts – Latest Announcement from Russia: “We won’t fight with US oil producers”. That means: They will not let the prices go down to stop US drilling activities. Venezuela Turmoil Optimism in US-China Trade Talks. Now we have a new bullish factor: Weakening USD. Simply saying: Historically,...
We have entered two short trades in Crude Oil and they both reached the targets. - See attached setups - As I have mentioned in the channel, the bearish rally was triggered by weekend profit taking purposes. However, there are still concerns over rising U.S. production, and key issues with China that have to be resolved despite favorable trade talks earlier in...
We have published a detailed forecast and technical analysis yesterday. - See Attached - After testing 52.70 Crude Oil prices dropped 2 USD triggered by the EIA Inventories Data. As we have mentioned before 50.20 was a strong support. The double Bottom formation has been completed. Crude Oil broke the 52.70. The target of the formation is 55.20. 53.13, 54.91,...
The reasons for the sell-off on Crude Oil prices: Oversupply concerns Global growth concerns Trade wars and risk off concerns Global Demand: 95 Million Barrel Global Supply: Over 105 Million Barrel What does the market expect from OPEC meeting? The general expectation at the meeting on December 6 is that the Saudis and Russia agree on a cut of between...
Supply Cut rumours helping Crude Oil’s recovery. -See Attached Forecast.- Another Supply Cut signal came from the Russian side. Russia’s Energy Minister Alexander Novak was on the wires last minutes, via Reuters, commenting on the OPEC output policy. Key Points: Need to make a balanced decision on OPEC production. There has been no decision yet. Russia is...
Crude Oil prices ended the week at 68.50 after testing 64.30 the MA 200 support of the daily charts. Bulls were ready at the main support. After three weeks decline, Crude ended the week with the gains.Dollar’s weakness is helping the Crude Oil prices to rise. On the smaller chart timeframes, Crude Oil ended the week above the SMA 200 which is a good news for the...