Rumors are the President Donald Trump will impose 75% tariffs on ALL oil imports in order to protect American oil industry. Let's see how this will be developed.
So far history has shows that market, with their own opinion, always wins.
U.S. benchmark, West Texas Intermediate, has fallen to the $15 range as global economies remain on lockdown due to the COVID-19 pandemic, crushing crude demand. Also global oil storage is reaching its limits. The situation is so dire, in fact, that the Department of Energy is even considering paying domestic oil producers to keep crude in the ground.
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Our US crude oil setup:...
- Oil consuption forecats say it will reduce
- Electrical vehicle and reusale energy are getting support from public and goverments
- On Monthly charts theer is a fractal
- Long term trend is declining
- Money flow Indicator is declining
An overview of a short trade I engaged in using OILD back in April and May, capturing a portion of OILD's 110% increase alongside USOIL's 25% decrease. In addition I talk about the long-term perspective of US Crude Oil.
This is a basic chart for educational purposes. The arrows drawn are not predictions, merely possibilities.
There are two scenarios I see potentially playing out:
1. Deflationary crash. I don't think this is the most likely scenario. The Federal Reserve would have to continue with monetary tightening by allowing interest rates to rise and they'd have to be very...
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and manage your deals and trading successfully
OIL HAS RECOVERED ABOUT THE HALF OF THE DESCENT STARTED IN OCTOBER AND FINISHED IN JANUARY. WE ARE ON A VERY IMPORTANT STRUCTURE AS YOU SEE THE GRAPHIC. PERSONALLY I ARE LOOKING FOR ENTRIES TO SELL WITH STOP LOSS WITH CLOSING OVER 71 DOLLARS,
I THINK THE BRENT CAN MISS A 4-5 DOLLARS IN THE NEXT MONTH.
GOOD TRADING AT ALL
the price is approaching an important resistance at around $55 level and the indicators are showing reversal signs. Stoch rsi double top, RSI bearish divergence and Macd histogram bearish divergence as well. entries and targets at the chart.
Oil have two big down movement. First one is done, we have second one.
Big target $35-$37. My small target $46.00
Sell - $59.60
Take Profit - $46.00
Stop Loss - $64.85
Risk = 8.81%
Profit = 22.82%
Shorts (and some naked shorts) are being squeezed.
OS at 129.45M and public float of 116.91M
Check out the volume:
As of 1:20pm EST, $BIOAQ has traded over 14M shares
With all the news out does this feel like retail profit taking or MM manipulation?
If you're on L2, check out the orders-- 250k and 500k...
It seems like oil is finally running out of steam at current prices. Looking at the MACD divergence forming, i will definitely be selling ukoil. Expecting to reach 70$/barrel mid-term and 60 in the longer run.