I don't normally compare many markets when analyzing currencies, but I thought I'd try something new. Apart of being a trader is pushing yourself to try and track the results if you'll succeed or fail overtime. This is my first step forward trying this out. Let's see what happens.
Markets I'm using?
* Dollar Index- Indicie
* USOIL- Commodity
Oil in a bit of trouble here, likely entering a 6-10 month bear market correction. Downside target can hit the 618% of the entire 5 moves off the 2020 lows when WTI went negative.
Currently a lower time frame A wave has bounced off the 618% fib retracement level of the 5th wave. But we must correct that entire 5 up not just the 5th wave. We should bounce into a B...
In my previous brent oil analysis, I stated that macd was giving a selling signal on weekly chart.
Then sales accelerated. This is what i see now.
* None of what i write here is not an investment advice. Please do your own research before investing in any asset.
* Never take my personal opinions as investment advice, you may lose your money.
* The purpose of my...
Oil at Demand Zone, showing some bounce, if daily resistance trend broken we may see up move towards 100-, 110, 120+ levels.
If this demand zone ( 84-88) broken down, we may see good fall towards 60-65 levels and may be more.
Just a commentary about President Biden's Press Secretary saying that the Ukraine situation has caused oil prices to be elevated.
The advance from the lockdown/reopening may have been a much more important factor in the current market price.
The fear that investments in new oil refining wouldn't generate a return with an administration vehemently against oil...
First of all, I used to always use CL1 as my main source of oil & energy. That measures Crude Oil futures. I think now is also an important reminder about the differences between Crude Oil futures and Gasoline Futures.
Before I really get started, let me say I am a big believer in new energy sources. I just don't think it makes sense to dig something up from the...
USOIL on the 4h chart bounced over a monthly support.
The market after the test of the 88 level is now trading below a minor resistance.
How can i approach this scenario?
I will wait for the EU market open and if the market will break above i will set a nice long order according to the Plancton's strategy rules.
Follow the Shrimp 🦐
Keep in mind.
Hi all, thanks for checking in for Wednesday's video analysis on oil.
Once again, we find ourselves back at key support. This level has stood since March, and till today sellers haven't been able to break through this level. For the last two sessions, sellers have tried and failed at breaking $95.20 support, but the question now is, do buyers still have the...
A tight labor market and slowed inflation have increased market anticipation for another 50 bps interest rate increase from the US Federal Reserve, thus strengthening the greenback against its peers. EUR/USD declined and stabilized at 1.0260, finally closing at 1.0258. GBP/USD fell to 1.213, with forecasts of...
I think about the ratio in terms of miner stress; for instance with the defi summer rally the oil denominated chart showed that (in oil terms) BTC was already coming into ATHs at ~10kUSD. I.e. input costs were accounting for roughly the same percentage of production for miners while the Fiat price they can realize on that stock was half as much. You can tease out...