Friends, GEOPOLITICAL SHIFTS: The relative strength between pricing of oil on an international vs. US domestic bases illustrates quite well the geopolitical changes that have occurred in the oil-producing theaters, not only from disruption of supply in the middle east - likely causing the shift fron under-to-above parity (purple line) around 2009, as well as...
PA divergence with RSI and ABCD price pattern confirmed Short after H4 candle close with first target 50.33
UKOIL Crude Oil (Brent) - Daily Chart The break of the accelerated down trend and the new tentative up trendline may suggest that there is a change in trend with a turning point on 3 Jan 2015.
It is time for little correction to downtrend for UKOIL. Price fall pace started in the last week of November seem too much for the moment. 65USD per barrel in nearest 2 months wont turn the downtrend to growth.
Brent oil falling deeper soon. Beware of risk.
Long term idea from analysis here - could take a while to complete. Or not - we all know how ridiculous oil is! Anyway, as you can see, there is a very, very strong long-term support trendline forming way back from 1999. It's apparent that oil rose in the late 2000s due to a booming economy and increased demand and subsequently a dramatic drop due to global...
The stock is certainly in a longer downtrend. A Turnaround is to early to tell - Even though, it can be time to start looking at a longer term Long position in the stock. Looking at the timecycles "Low to Low" from 2004 - present, It seems to come in a cycle Low every 76 to 81 weekly bars or every 500 to 550 days. We might now be at week 77 from an earlier Low....
Seems that the price touch the possibly bottom. Currently we closed upper than the 07/2009 support line and month downtrendline. I believe it should be strong support for the crude oil.. if the price break it - next level is 50 USD/barrel.. than 36.. let's see if the price can stop falling here..
According to this spread chart, current price relation OIL/SPX and price movement are nothing new, they resemble late 90`s - like many other things (e.g. dollar strength, biotech bubble = dotcom bubble, or check blogs.barrons.com) The peaks corelate with turning points in Gulf War and Iraq War. The bottom of the spread could be distant another 10% at minimum,...
0.764 retrace since the last highs of 69.5. This looks like a pretty good risk reward place to go long until 71.14. Daily is relatively oversold & unsustainable along with clearer and clearer signs of seller exhaustion.