How have oil markets evaded the bearish sentiment in equities in the last six months? Have the fundamentals between the two risk markets really diverged or, as the OPEC1 claim, oil markets have simply been panicking? Is the discrepancy now getting corrected?
Might the cure for high prices be high prices?
Commodity prices are ultimately a function of demand and...
MOEX:BR1! Brent Oil Futures has been in a trading range since March of 2022 on the daily chart forming a rectangle pattern. The support is found at $96.00 and the resistance at $124.00.
A close above $127.00 will confirm the pattern's breakout, with a target price of $152.00.
A close below $90.20 will confirm the pattern's breakout, with a price target of...
Hello traders, it seems that the correction pattern of oil is being completed, but there is a possibility that the rise will continue if the ceiling of the third wave is broken, otherwise the correction structure will continue. Good luck and be patient in trading.
HEY traders, what's going on today?!
Oil is down ahead of Biden's trip to Middle East , and it seems that want to be decreased more
Prices of crude oil futures decreased by over 2% on Tuesday as market participants assessed United States President Joe Biden's chances of negotiating an increase in oil production from OPEC countries during his trip to the...
Brent crude completed its 'A' wave after a WEDGE break-out.
It reached 76.8% of wave 'A'@$115.60, and started to fall
Economical slow down will not support its way up,
the result is formation of wave 'B' downwards until 61.8% of wave' A' ($60)
the maximum time as per Neo wave is june24
And energy will remain the best trade in long term. (going to 185$+ in next cycle).
Beautiful double top is forming.
However, because of the coming crash. Energy will follow indices even if less than during covid.
So I feel the objective to be around 43$
Here is how I see crude going down to 30+ zone into the end of this year. 1-2 / 1-2 set up is almost complete, we should see a strong move down starting end of April/early May. First support is 70+ zone, then 50, and 30 to complete the whole structure. I expect a long lasting (10+ years) bullish trend afterwards.
