After doing a 61.8 of the fib starting from the top, oil has been ranging at the golden ratio while also creating a bearish divergence on the MACD which confirms we have momentum shifts from longs to shorts. Our target is down to the 38.2 where we have a broken structure waiting to be retested
The Oil Future was in equilibrium but broken after that in point A, then it came back to the rectangle in point B and break it in point C.
The break-in point C shows that for today, Oil will go down, in a decreasing trend.
So, selling oil would be a good choice for today.
But we should pay attention, if the stock break the resistance, it could...
USOIL bears delivered a bearish gap, the first one in a while. Impatient shorts will cover at current measured move target level, which will apply pressure making bulls excited towards 5650 gap re-test. The retest area is a reasonable short with good odds as the context to the left favours bears currently.
"The Company consists of the upstream businesses of Exploration & Production and Gas & Power and the downstream businesses of Oil Products and Chemicals. It also has interests in other industry segments such as Renewables and Hydrogen." right now Shell currently offers the highest dividend yield among the oil majors, at 6.5%. Moreover, that dividend is...
Crude oil looks range bound at the current moment with a break of the wedge up or down indicating a nice sell or buy opportunity.
I remain bearish and am selling at the top of the wedge. Expecting to see below 50 by year end
Thought I should make another crude oil analysis as market did hit the top of the channel line which i am expecting a drop from here, however still waiting for my last signal on the 4 hr view for downside confirmation.
Here is my other crude oil analysis which you should find quite...