Good day guys, here's my Mid-week market review of CADJPY. In the video, I briefly explain what I think about the future of CAD, cross-referencing with OIL.
Please take note that; this is not a signal, however, an educational video of what I think about this pair. I believe you guys will grasp something from this video and learn a thing or two. Have a good...
UKOILSPOT broke above the descending trendline resistance (turn support) and price may bullish from pivot at 71. 01 in line with 38.2% Fibonacci retracement and 38.2% Fibonacci extension to resistance in line with 100% Fibonacci extension . Alternatively, prices may rally down to stop loss at 69.03 in line with 23.6% Fibonacci retracement and 23.6% Fibonacci...
SUMMARY: LONG, oil and gas is heading for multi-year bull run.
Expect to hit new all times highs in 2022 over $150.
1. Underinvestment in industry, leading to reduced supple.
2. Excessive broad money (M2) money creation by all major central banks.
3. Bottlenecks in supple chains and increased risks in transportation.
BBG article - Natural Gas up...
We have gorgeous long-term accumulation and asset is ready to distribute with acceleration. Final target point is 200-220. Gasoline and natural gas prices will rally too.
Brent oil, now the price at the support line at 1hours and 4hours and daily candle, so i expect will go upward till targets.
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Tendency: upward
Entry: above 67.30
Tp.: 69.70 & 71.44 & 75.32
Sl.: 65.00
OIL price already touched bottom in April 2020, where ABC correction ends
Now it's still on the (3) wave, then Global resistance line become support line for wave (4)
Wave five have to reach approximately 120
Bond yields are weak and global growth fears are mounting. With quite a lot of PMI misses recently.
Could we see a wedge formation and correction ensue for Brent ?
Seasonally Aug+Sept tend to be toppy/choppy for Crude.
If we do get a correction into the low 60s I think it represents a great buying opportunity for the longer-term bullish supercycle thesis.
