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WTI Crude Oil - Some infosHi Guys, allegations of Human Rights violations are, IMHO, playing an important strategic role for the dynamics of supply and demand and the management of oil price control. Saudi Arabia was placed under unprecedented scrutiny, and economic and political pressure from the international community because of this. A lot of European Countries have stopped the sale of arms to Saudi Arabia over the incident. Canada is still considering freezing its arms deal. U.S. lawmakers too are considering to take action against the crown prince for his role in the murder of journalist Jamal Khashoggi. Senator Lindsey Graham said in an interview on Jan 19 to Bloomberg :“Congress will send a very clear signal to the world and Saudi Arabia that we would not be doing business as usual. There’s strong bipartisan support not only to condemn the actions of Saudi, MBS, but actually do something about it.” The heir to Saudi Arabia’s monarchy has so far largely dodged any reprisals against himself, with President Donald Trump opting in November to impose sanctions against 17 lower-level Saudis implicated in the murder following global outrage. Critics in Congress have said that was only an initial step, with a bipartisan group proposing stronger penalties including suspending the sale of arms to the Riyadh government in a challenge to the Trump administration. The recovery period following the low in 2016 was stopped on Oct.2nd, 2018 by the assassination of Jamal Khashoggi. Such event triggered a bearish impulse that helped breakout the distrubutive channel (pink). The fall was supported at $42,30 where it found support 4 times in the past (1234 in red). From $42,30 price re-tested the lower trendline of the upper channel (pink) right when Saudia Arabia executed 37 people on terrorism charges. Below some screeshots providing infos: Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
TVC:USOIL
by cozzamara
2
USOIL - Interesting Sell SetupFrom a technical analysis perspective, it can make a bounce downwards around 63.7-64 and the technical aspects are: 1. The major reason is the trendline which is pulled from 2016 low, second touch 2017 low, it made a breakthrough at 2018 and now, this is a classical retest situation. The 2018 breakthrough has occurred with a strong and powerful candle so this could be a sign that this trendline works as a strong resistance! 2. Around this trendline is the Fibonacci golden ratio - 61.8% 3. Previously worked support level which becomes now resistance (orange line) 4. Equal ABC count, this is a little bit higher than the ideal entry point but it is around that area and actually, it matches exactly with Monthly EMA100 5. As usually, a bearish candlestick pattern from the mentioned area would be another confirmation Please, take a second and support my idea post by hitting the "LIKE", it is my only fee from You! Have a nice day, Best regards! *This information is not a recommendation to buy or sell, it is used for educational purposes only!
TVC:USOILShort
by VaidoVeek
8
US Oil: Week11 into WedHi Guys, please note that the formation inside the circle was made right on supportive SMA. Following the pannant made on Monday and the run made this morning, price pulled back from 59,50 to return below 59 and find support on the ascending SMA at approx 58,73 and bounced to gap up right after release of API Weekly Crude Oil Stock which was supportive for bulls. Tomorrow EIA will release its report which will be crucial for WTI traders. Overall, despite Tuesday pullback, my view hasn't change from the view I posted on Monday. If you trade intraday you must be quick to take your profits. However, to conclude, if 58.73 is breached 57.87 may be the next supportive level. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
TVC:USOIL
by cozzamara
US Oil: Pennant?Hi Guys, following my previsous post on US Oil (related ideas linked below) please note that the formation inside the circle made today may be a pennant that could trigger some bullishness into mid-week if sentiment picks up. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
TVC:USOIL
by cozzamara
USOIL: Week10Hi Guys, following Trump's tweet at the beginning of Week8, Oil ranged throughout Week9 entering Week10 with a bullish bias due mainly by comments from Saudi Energy Minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall in U.S. drilling activity. This is an arm wrestling US vs OPEC between 57 and 55. Let's do not get involved but just sit by the river and wait. I don't now who is going to win but as sheep my job is to follow. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
TVC:USOIL
by cozzamara
Brent oil - Bears reinforced, eyes $49.75Brent’s rejection at the rising trend line coming from Jan 2016 low and Nov 2016 low despite the surprise drawdown in the US inventories reported by the EIA in the North American session yesterday has opened doors for a sell-off to $49.75 (Mar 20 low). A weekly close below $49.75 would add credence to the falling top formation, the breach of the rising trend line, bearish RSI and would mean the prices have topped out at $58.35 (Jan 2017 high). Oil may proceed to test $43.60 (Nov 2016 low) following a weekly close below $49.75. On the higher side, only a breach of the falling top formation would signal bearish invalidation.
TVC:UKOIL
by TipTVFinance
Brent oil – Major trend reversal, eyes sub-$49.75 levelsFailure at the falling trend line hurdle last week followed by Friday’s close below the rising trend line (coming from Feb 2016 low and Nov 2016 low) signals the rally from the Feb 2016 low has ended and prices could test and possibly breach $49.75 (Mar 2017 low), in which case doors would be opened for $46.43 (38.2% of Feb 2016 low – 2017 high). Only a weekly close above the descending trend line would signal continuation of the rally from the Feb lows.
TVC:UKOIL
by TipTVFinance