Hello Traders, The second scenario "which I wrote previously" could be valid, which we are in wave 2 and should see wave 3 coming. Position Strategy When the price reaches 7.40 Saudi Riyal, we should respect the bullish bar on the monthly chart, and go long, with a lost stop of 6.09 Saudi Riyal. This scenario is only confirmed when the price hits a price...
One market that has quietly, but powerfully, performed well for 2019 year-to-date has been Saudia Arabia's Tadawul All Shares Index , up 13.82% as of April 3rd 2018. On a macro level, the country has been buoyed by a resurgence in the price of oil , coupled with the "Risk On" feel supporting the markets since January 2019. More interestingly, on a domestic...
One market that has quietly, but powerfully, performed well for 2019 year-to-date has been Saudia Arabia's Tadawul All Shares Index, up 13.82% as of April 3rd 2018. On a macro level, the country has been buoyed by a resurgence in the price of oil, coupled with the "Risk On" feel supporting the markets since January 2019. More interestingly, on a domestic...
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...
Long oil, speculative play looking for $56/59 target.
This is setting up for a nice short play. We have learned to play these markets by playing crypto and while nothing is happening with that at the moment we can play real markets such as forex, stocks and indices. These things move every weekday. Tuprs is a Petrol company, they buy oil and make products such as oil for your car, gas for heating and petrol. Looking...
Expecting a double top on double divergence leading to an "M" pattern taking oil back to missed monthly pivot. Saudis have indicated that their crude production will increase substantially come August, and it will be not by the "hundreds of thousands, not tens of thousands, of barrels.(1)" 1.) Reed, Stanley, "Saudis, Saying They Heard Price Complaints, Are...
Oil should continue its bull run higher after a short correction. Saudi's seem to be finally getting their act together, and with power consolidation, should be able to limit supply enough to continue this rebound in prices this year. Fed's higher interest rates should dampen the response from debt-laden shale producers. These should set up for long-term higher oil.
Looking at a recovery over the next year or so. Oil recovering and breaking out over 55. Higher interest rates will dampen the response from debt-laden shale producers. Saudi's consolidation of power should add more stability to their production. TVC:USOIL
Crude really big picture
NYMEX:CLX2017 We are seeking a move back to 48 over next week or so back to comfort zones
ABOVE 200 DMA TECHNICALLY ABOVE CLOUD FUNDAMENTAL REASONS SUPPORT BULLISHNESS - OPEC
Multiple weakness seen here, with every rally being sold off. The support at 46.5 should break any time right now, great opportunity to short here with 1% stop loss.
Crown patterns emerges very evidently. Conventional target $36 which is 0.618 fib retracement. Any news can give breakout from the pattern and rally towards $54-$55 Be careful Long term trade Short Entry Price : 44.30 (Candle Close below) SL : $ 46.65 TG1 : $43.01 TG2 : $38.85 TG3 : $36.03 Pls refer to all Resistance line (Maroon) PS. Generally I dont believe...
A clear break and sustain trading above 45.5 may take crude oil to as high as $50 before sharply down.
First and foremost one should know I am very bearish on oil, as it has paid tremendously the past year to be on the short side. But a true bear should know when to prey and when to hibernate. At this moment I consider myself in hibernation. I am looking to sit out until June of this year before I initiate my big short on crude. So far my analysis has been...