Difficult period, the market in January retraced from the highs of a decided 11%, after the end of the year had not been so excellent in terms of "Christmas rally". In these drawdown periods, in addition to cutting losses, accumulating on long-term portfolios, we must try to take home the profits where the market has overperformed. In my case, oil gave me a +...
The rise in oil seems to never end, all estimates are up, the target is $ 100 a barrel for authoritative institutional sources. I have "surfed" the trend from the terrible COVID collapse to today, where I believe it is appropriate to take profit, leaving as always a small part in the portfolio, considering the fantastic average purchase price. Analyzing the...
Quick update on crud oil (the investment is on the "CRUD" ETC as you well know). No fundamental news from OPEC, so let's analyze the chart, because we have reached an important point. After the retracement practically lasted from 6 to 20 July, the price with a classic "V shape" is returning to the 5.80 area. I highlighted a similar situation in the past when in...
The price broke down the double three WXY of (B) corrective structure. We got the pullback to the broken support. Watch further break below minor support. Wave (C) could retest the former valley of 34.34 See related Brent crude for education purpose - the overall structure is the same, but the current corrective structure in wave (B) differs.
Another ABCD could lead oil to 62.10 abcd just finished and we starting new one now
I've entered a small long here, off the support above $52. This support goes back a long way, look at it on the weekly. I'm targeting the retest of the pink up channel we just broke, or the blue horizontal channel. Longer term though, I think oil looks extended, and I don't think supply is set to fall much. So I'd be interested to look for a short position...