We have seen that a massive upsurge in the oil prices in last trading session where oil has gained more than $5/bbl to touch highest level of $27.39/bbl, however this momentum was not sustainable and plummet from highest level to currently trading at $24.06/bbl 11:02AM (Pakistani Time). Therefore, this came to in a choppy session which force it to oscillate in...
So what I was thinking; Could this be a "buy the rumor sell the fact"? Dispite no actual deal, the oil market went up significantly. What if we have a "no-deal" tomorrow, or the cutback will only be by 5 million barrels. Anyway keep an one eye on the news and one eye on Trump's Tweets.
An era is ending... The USA crime syndicate the FED said they would print infinite money to solve every problem. "During the height of inflation from 2008 to 2009, it was difficult to measure Zimbabwe's hyperinflation because the government of Zimbabwe stopped filing official inflation statistics. However, Zimbabwe's peak month of inflation is estimated at 79.6...
When putin got the power oil was at 30$ and rising Now oil is falling below critical price for putin and he will lose the power.
Following the current situation we have 2 basic scenarios about oil price: 1. Yellow: USA already started some jawboning about support for their oil industry and etc, and we should not forget that normally such cautious talks are about to "measure" the possible reaction. So we wait here some possible reaction, probably going up till 40 and then falling again to...
Here we are tracking the continuation of the move down in Oil. On the demand side, manufacturing is starting to slow and we are outguessing signs of the effects on the demand side. Equities wont be able to hold Oil up for too much longer, this is starting to look clearer by the day. Prices will have to fall to offset the move in demand, once this starts...
Previous ideas reached the targets (see related). But this pair didn't fully emerge therefore I expect it to retest the former top of Y2016 at 85.90. It will be wave 5. Wave 4 is unfolding now and it could be flat/zigzag or a triangle as in the larger degree preceding correction.
This pair hit the target set in my earlier post (see related). But it looks like it is not yet done. There is an ABC flat correction building on the chart and wave C down is pending. After that the move up could emerge to hit 80 - at that level the large second leg would hit 1.272 of the first leg up and 0.618 of the move preceding the current flat correction.
OIL BUY TP_41.42_30.77%_9.746pips_SL_29.71_6.21%_1.966pips
Evening Traders, Today’s technical analysis will focus on CRUDE OIL with its biggest gap down ever, breaking a key local resistance that is likely to be tested with an oversold bounce. Points to consider, - Local yearly support breached - Multi-year structural support in confluence with Fibonacci Extension - RSI in oversold territory - Stochastics in lower...
So did look at this chart on the weekly. We had an initial downside move after multiple higher lows and higher highs, and we were expecting a lower high swing to be made. This did not happen for many months. The 61.8 fib held, and just on Friday, we confirmed our first lower high swing because remember, to confirm a swing, we need a new lower low (in a downtrend)....
OPEC+ failing to cut production Friday was bad, but things are about to get oh so much worse. The Saudis announced today that they are increasing production and entering an all-out price war with Russia. We may soon see US oil prices head toward $20 per barrel. There's broad speculation among analysts that Russia is deliberately trying to collapse oil and gas...
OPEC said to be pushing for more than 1 mil bpd of output cuts. Russia said to have opposed plans to deepen OPEC+ output cuts by 1.2 mil bpd. We can't forget BOC rate decision ahead and which should create some volatility in the loonie and it might have some positive or negative effect equal for oil aftermath but I think there are hidden bulls at the oil market.
Fed rate cuts taking full control of the FX board as virus disruptions start to fade - it's time to go shopping in G10 and EM FX and the intervention policies will provide some USD relief. Here looking for a rebound into previous ranges in USDRUB as a pro-cyclical currency. A test of the previous range we were trading looks around the corner: The spread of...
As widely expected USDRUB selling off from the 64.2x highs and a good time to collect half our chips from the table. Well done sellers, a textbook zigzag and flawless trade since the channel breakup so far. The spike was a textbook flushout with US sanctions acting as the catalyst. For those tracking the previous diagrams the flows are wide open in the...