Hindustan Petrol oil related NSE stock buy opportunities with new weekly demand level created around 233, following suit what Brent Oil and Light Crude Oil are doing, all three reacting to monthly demand levels.
There is a clear long bias with a very strong reaction from a monthly demand imbalance around, a very strong monthly pin candle has been created four...
The slowdown in the world economy, especially the Chinese one, which is the country with the highest demand for fossil fuels, will have a negative impact on stockpiles, dropping the price considerably.
Institutional investors, and not, have started to bet downwards on both WTI and BRENT and it is very likely that this rebound is due to profit taking only....
2618 setup. Double topped retracement to 50% not perfect 61.8 but I think it will work out. Extended targets to level of supply/support, Risk is very tight hopefully stop loss will not be hit. Bulls are loosing control. 2:1 RRR. In my opinion OIL will go up again but in need to take a breath down before that.
Will be multibiometric!
Smartcards (touchless & nonbattery solution in access card & payment card)
In the Cloud
FULL In-Display - touch the device and it is unlocked
In the car (no keys, no radiosignal and no more stolen cars)
Outside the car
In the petrol station (with Visa)
(States will be FPC's largest customers...
Technically: Fibonacci retracement level supported by MA which plays role of resistance, overbought RSI not likely to sustain the upward movement, same for MACD and Stoch indicators
Fundamentally: Rising OPEC output
Oil prices will need a retracement depending on Weekly chart, because of the political and geo-political risk on OIL prices can go higher without a retracement. Question mark implies this possibility. One way or another prices will go higher for long term ( 1 - 2 years).
USOIL Weekly Chart;