Note: It is obvious crude oil may explode north if war breaks out or any other reasons that cause a big demand for the commodity. Breaking and sustain trading above $70/bbl may damage the downtrend forecast.
$LMT Martin Lockheed, pullback to launch the rocket? #LMT $LMT Martin Lockheed, pullback to launch the rocket? #LMT $LMT Martin Lockheed, pullback to launch the rocket? #LMT
On the longer timeframes (1 month) gold broke the horizontal resistance based on the top of summer 2014, July 2016 and around February 2018. For now, it looks the month candle is still trading above the resistance line but, we have one trading week left before the candle closes. So to be safe, wait for one more week, and if price is above resistance line, it's a...
Lockheed Martin stock has often been a leading indicator to significant military escalations involving the United States. Now at the brink of a breakout, we could be dangerously close to a major geopolitical disaster. My moral compass prevents me from profiting off of humanitarian tragedy and the blood of innocent human beings that will be spilled as collateral...
Sensationalism. Elections. Iran. Media is feeding fear. The journalist that wrote that recent story on OilPrice dot com is part of the problem.
Despite ongoing concerns about oversupply and threats to demand, crude has some upward catalysts after a long bear run. Global contracts are up in the month of June, according to a report yesterday, and China's oil appetite is increasing. Also, Iran attacked a couple oil tankers and the US government appears determined to go to war in order to bolster the...
Currently observing the geopolitical tensions about the gulf of Hormuz and the allegations about Iran's Military. The current news and the marketclose on friday and the market opening on monday will most likely cause a gap in the OIL price. The price of OIL will almost 90% surge the coming week. Price is currently $52. This will propably go up to $57 or higher ...
Macroeconomic statistics came out better than expected on Thursday, even the fact that data on Eurozone balance crossed the “+” level did not help the euro. The euro was under pressure and below 1.1200 again. That is not a reason for panic. The US will not impose additional tariffs on European automotive industry’s products it means that the States has decided not...
Well today i have some bad and good news. Which one would you want to hear first? I guess let's start with thee crappy news! I somehow missed a 500+pip bearish move on oil. Like who does that? Anyway, it is not totally a bad thing. Because the good news is that it has created some nice structure in the market on which we can base future trades. My bias on oil...
Natural gas price seems to be moving in an uptrend. However, there appears to be a wedge-like formation in play, suggesting a possible small correction. If prices do reject the ceiling of this shape and go lower, i would consider going short. Due to the high risk nature of this type of trade, i would only consider opening a small position.
Latest information about the US. The USA intends to reduce oil exports from Iran to 0. Thus, the upward movement in the oil market received a new impetus. So, our attempt to catch the correction at the very top was clearly premature. But first things first. According to the Washington Post, the United States no longer intends to grant preferential permission to...
"The Washington Post came out with a news report on early Monday saying that the US State Department is set to announce that all countries will have to completely end their imports of Iranian oil or be subject to U.S. sanctions. The report further states that the US action is an escalation of the Trump administration’s “maximum pressure” campaign, which seeks to...
The relative calm of financial markets on Thursday. Important statistics were not published yesterday. There is nothing expected to change the current situation on Friday. So, it means we continue to work in the previous vein. While there is a cooling-off period for the main issues of concern, let's talk a little about the future of the oil market. The...
Here we are tracking a retrace in Crude after expected supply cuts are fully baked into the market. Bulls are going overboard here, forgetting that we have demand shocks coming with the global slowdown. The impulsive leg down last year was caused from the supply side, there is very little that can be done here to get back to these levels again. Good luck...
USOIL to fall down to the price of 71 USD, keeping the very clean and using simple support and resistance, from my analysis you can see that there has been a fake breakout on the upside and confirmation from two trend lines, that price will come down and retest the support, take what you will from this, good luck traders! -Pauric Finnegan
Based on potential issues with Iran involving the Hormuz Strait I just published and quickly cancelled a chart looking for a run up to 76.5-77.5 and then a pullback to 74. But then thought - if this issue continues to unfold then prices may just continue to grind up over the next month without much in the way of prices pulling back. I am highly advising taking...
Potential 470 ticks: I am looking for a potential Long and Short play in Oil short term. I was recently bearish minded at 74.12 but following the price action this past week I believe we may have another run up coming potentially due to geopolitics involving the Hormuz straight. Trade on the chart is self explanatory based on 2014 Supply/Demand levels. Note: ...