OilRegarding the USD/Bro movement, it seems that we have reached a crucial point. Stability above $78 will push oil prices towards $93. However, if there is a breakdown and stability below $76, we will observe a decline towards $60.
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About U.S. DOLLAR / BRENT CRUDE OIL
Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times.
Usd/broRegarding the USD/Bro movement, it seems that we have reached a crucial point. Stability above $78 will push oil prices towards $93. However, if there is a breakdown and stability below $76, we will observe a decline towards $60.
Brent Oil trend upOil has got some bad news for couple of months but now looks like the trend is getting a bit stronger showing demand is improving. For moment its a long position on oil!
BRICS OIL - USDBROBRICS OIL soon to be when Saudi Arabia joins BRICS set to target the price tag of FWB:210 per barrel, the charts don't lie, economists and finance people do!
Petro Dollar - A controlled Demolition 🇺🇸 🛢 💸 Petro-Dollar chart to illustrate the inevitable collapse of the current world reserve currency:
The U.S. needs cheap oil prices for the dollar to remain competitive globally and to retain the world reserve currency status 🇺🇸 🛢 💸
They accomplish this by controlling oil production globally, flood
Brent weaknessFX_IDC:USDBRO traded below $75 last week. Given the economic challenges, I'm open to weak oil prices. Unless there's a bounce at $71, we might see $64. How will this affect JSE:SOL , I don't know but I don't want to pay more than R30/L for petrol.
#Brent crude - an important inflection areaThis analysis is done on a monthly chart so this could still consolidate and take some time to play out but just a few interesting points to note:
(1) the 200 month moving average (green line) has acted as a support and resistance level for the price of brent crude for the last decade and a bit (lo
Insiders buying oil?Is insiders buying oil behind some big movement? We dont know for moment its just a warning signal of probably higher prices for oil!
Oil, weak. Sasol?TVC:UKOIL is now trading below $76/pbl. Not much, it was one of those imaginary support levels. It might go to the sixties. How will JSE:SOL handle this?
BRENT: Turn UPLet's start considering the situation on the oil market from the weekly timeframe gradually descending to the hourly.
The global picture appears as follows – since 2008, quotes have been in a descending channel with a peak at $ 147 per barrel. In March 2020, pushing off from the lower border of the
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