TADAWUL:9512 is in a really interesting area right now .
In fact there is a BEARISH MARKET SENTIMENT at the moment , but the price needs to close below the red box (35.7 - 35.2 area) for a BEARISH CONFIRMATION .Actually ,If it succeeds to close below the red box (35.7 - 35.2) area ,It is very likely to continue the bearish evolution towards the 33-33.5 area .
level 58 broken, we come back to test it with pullback in a long term uptrend ... the lowest green zone can be a good buying opportunity if we retest at the bottom with another buy position on the zone upper zone breakout.
otherwise we can still buy the breakout of the upper green zone with another contract when comming back on the pullback ...
we are in a long term uptrend .. the prices on a major support in a sensitive area, if we manage to break the horizontal resistance in white dots we can buy the market and double the buy on a possible retest on the horizontal white resistance which will become a suport .. to be continued
OPEC monthly report was issued a few minutes ago, and the report was not positive for OPEC+ and the oil-producing countries within the group, led by Saudi Arabia. OPEC kept its forecast for oil demand in 2021 unchanged at an increase of 6 million barrels per day, bringing the average to 96.6 million barrels per day, and also kept its forecast for the growth of oil...
ARAMCO is forming an Ascending Triangle started in early Nov. 2020. Priced reversed from the downward trendline and the resistance area at 36.00 bushing ARAMCO to test the bullish support line of the triangle pattern. This declining is confirmed by indicators such as the RSI and OBV, hence breaking below the support line will forced ARAMCO to continue its...
Oil prices have enjoyed a remarkable rally over the last four months as the world has gone from entering the most severe wave of Covid-19 to rolling out vaccines and planning its final exit from the restrictions.
Efforts by OPEC+ have been key to this, including the surprise one million barrel cut from Saudi Arabia earlier in the year, which confirmed the group...
12day, Weekly, Daily Set-up
ENTRY = 320
add = 305-266
1st Target = 354
2nd Target = 375
3rd Target = 400
HODL Target = 440+
This content is for informational, educational and entertainment purposes only. This is not in any way, shape or form...
Hello, receive a cordial greeting, you have the oil analysis at your disposal in the short term, you have marked supports and resistances.
Oil rises almost 2% and hits the highest since February awaiting the OPEC meeting.
Kind regards, Happy New Year !!! L.E.D
In Spain on 01/04/2020
For Tihama the good thing to do is to follow the Fibonacci extension to well measure the extension of the current bullish move, so normally we should close at the level 63,09 or 64,64 and you can see that it match up perfectly with the resistances, but what is more logical in my opinion is to close at 63,09? SO STAY IN YOUR POSITION