As you can see gold made double top pattern so according that gold will touch 1643-44 again
As you can see Gold take dip from 1642-43 during NFP so now we can expect that Gold get reversal and retest the resistance to become a support so it will go up and touch the resistance of 1677-80
As you can see Gold breakout the trend and retest and went to take resistance on another trend line and then it's pullback on support and again it's try to take resistance on trend line
Energy stock is the growth stock in my country lol. With the strong fundamental and political background, I would be waiting for the accumulation zone but the board keeps buying back their stock right now .. So, fundamentally the price may not retrace to the zone.
It can be the ended of wave 2 and coming in Wave 1 of 3 , the Fibonacci show retracement at 0.5 and MACD cross the Signal Line that show it gonna be Wave 3 and i thing we shoud Long the "GULF"
The #Gulf_War (2 August 1990 – 28 February 1991), President George W. #Bush has given new meaning to "exporting democracy"! by BOMBING #Kuwait and #Iraq (#Saddam). One of the main results was the drop-down of Crude Oil Price until February 1999!
Also in a down trend but now we can see some bullish price action, Clearly we can see its making higher lows and today it made a higher high. Looks bullish and more upside expected. Hit like & follow guys ;)
Oversold, use the new supportive price of 149 as a stop loss. Usually, a movement like this can gives you a good entering price. Let's see what happens tomorrow.
The support is at the old low, 157. I saw the stock was moving down fast with low volume. I jumped in at 157 and 156.5. The risk-reward was OK but I felt like I would have a high winning chance of buying it here. The profit-making price is the next resistance,161. This should work out.
TECHNICAL OUTLOOK * WEEKLY TREN LINE SUPPORT AT BOTTOM LEVEL WITH POSITIVE SUPPORT OF RELATIVE STRENGTH INDEX BUY AROUND 49.2-49.3 TARGET 51 52 SL OF 48.9
The GULF ETF is breaking down of a long term up trend line. The MACD and OBV are supportive of this breakdown with cross downs. Something is happening in the ME... and while Crude is rallying like no tomorrow, I see something bad brewing! It’s almost like a warning of sorts... heads up!!! Reference ETF Info here
Risk/Reward: $1 =$7 GULF ETF tracks middle east corporations with strong dividend. With oil price plummeting over the month, it has pushed the this ETF to final support level. Look for positron bounce to the upside, especially oil price recovers soon.
Tensions in the Persian Gulf remain. With tensions, oil prices continue to climb. If Britain wants to increase its military presence in the Gulf alongside the US, we should wait for Iran's reaction, which is a strong reason for rising oil prices.
Trump said Thursday that a U.S. Navy ship had destroyed an Iranian drone in a “defensive action,” escalating already high tensions in the Gulf region. On the next day, Iran dismissed the report. So, investors’ reaction was expressed by rescuing in safe heaven assets and it is understandable. Later, the gold price was correlated with a decrease in the gold price....
The oil market is once again in the spotlight as Iran's Revolutionary Guard Corps (IRGC) announced that they have seized an oil tanker near in the Persian Gulf. The nationality of the tanker is yet to be specified as we expect a strong reaction from the US-led Western camp. The WTI price appears to have found a firm fundamental support to rise back from the week's...
LNG The LNG market has has some scales of economies to reduce production and processing costs. Cheniere Energy was Cheniere Energy Partners' revenues went from $270 million in 2015 to $1.1 billion in 2016. They took another leap in 2017, rising to $4.3 billion, and over $5.8B in expected in 2018 to handle growing pace as demand for lower cost energy like...