UKOIL Forecast, looking bullish with a potential reversal ahead.
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Khiwe
On this profile page, the shared analysis, ideas, and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or completeness in the form of any content; -it is not to advise on financial markets....
And so, oil continues to set new records against the background of continuing demand. Many respected financial institutions predict price increases in the future. At least they would remain at current levels.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
As I said in my previous UKOIL post the bull rally is very strong, with a strong momentum and the next resistance to test will be at 86.71.
TODAY we hit 84.58, we are just 2 dollars away for the next bull target.
OPEC Monthly report and API/EIA data amongst others will be key for the next steps.
Bears need to test 77 in order to decide their next move.
All the...
Looking at the long term downward trend from June 2008,
We can see that there is Resistance at the 86 level.
If this resistance is not broken then we are looking at a retracement to 51 level (Fib)
Solely based on technical analysis and no fundamentals in consideration.
Prospects for oil prices, to a greater extent, would add up to their growth or at least consolidation in the range of ~ $ 78–82. Deficit reduction is progressing more slowly than planned. The oil market is still in deficit, but not as before in view of the beginning of a small, but still consistent, softening of quotas by OPEC +. The decision by OPEC and its...
Who is going to win the next battle? Will some European or Global leaders call OPEC members to open taps to avoid hurting global recovery?
We have broken out a long term trend and seems that bulls are in control and willing to hit 86.71 - 89 bucks target in line with Goldman Sachs prediction but we never had 8 weeks in a row of uptrend in the recent years. It...
Yes, the oil market is as bullish as it gets. Therefore, we are sharing our trading zone here. We expect the price to fall in this area and soar from there!
Happy trading!
I like to step back and look at markets from a longer time frame to determine the direction of the trend. This monthly chart shows that the up trend is still intact having pulled back to test the 6400 level in Aug. This run up has met resistance testing the 8300 level with some selling but price has returned to 8200 with buyers stepping back in. If price fails to...
The decision by OPEC and OPEC + on Monday to keep the plan for a gradual increase in oil production was prompted by fears that demand and prices could weaken.
The group also considered the possibility of increasing production by 800,000 barrels per day, which is almost 1% of global production, ahead of Monday's meeting.
Now the OPEC countries are more cautious,...
XBRUSD facing a resistant , Possible big shortXBRUSD facing a resistant , Possible big shortXBRUSD facing a resistant , Possible big shortXBRUSD facing a resistant , Possible big shortXBRUSD facing a resistant , Possible big short
