The above chart illustrates the performance of different asset classes in % change from Mar'20 low .
The list of included assets is as follows:
Copper
Gold
ES
Brent
DXY
For the futures markets, the Jun'21 contracts are used; for DXY, the ICEUS index is used.
As seen in the chart, the best performing commodity is copper, the rise in copper prices is...
What a crazy rally its been for oil since last November.
Just passed the .786 Fib level on the daily based on the highs of Jan 2020 and looks pretty solid growth wise.
Possible it can go to top of channel around 65.
Definitely been good for the OPEC cartel and the USA.
Maybe theres some cracks?
A lot of traders are pricing in a recovery already in travel and...
Brent oil finally reached a major strong weekly resistance.
On that, the price has formed a h&s formation and just broke below its neckline.
Taking into consideration the overbought market, chances are high that the price will go much lower.
Goals - 53.15 / 51.0
Please, support this trade with like!
Former late 2018 support at round $50 per barrel depresses current uptrend and could become a resistance forming a rising wedge pattern that lead to falling prices.
With the rising of the oil price recently with the good news coming to the post pandemic. Oil and Gas stock becoming one of the sector that will be bloom in every economy recession.
For a long time of momentum, here we are again.
Stock to be the first movers.
- Refinery and Retailing
1. MYX:PETDAG
2. MYX:PETGAS
3. MYX:GASMSIA
4. MYX:DIALOG
5. ...
Brent continue to form classic uptrend pattern in tandem with trendline.
Chart pattern: inverted head and shoulder with clear breakout neckline.
Latest forming the cup and handle with lower bounce + Hammer.
i am pro bull on this one.
**simplistic analysis.
Brent retests a recent structure support after a massive extension to 45.2 level.
the underlined structure matches perfectly with 618 retracement of the last bullish leg.
based on hourly price action chances are high that the price will bounce.
goals:
45.0
46.0
