OPEC is removing cutbacks starting this month, could easily see another supply glut soon.
Some quick numbers – Globally, there are over 15 Million Coronavirus cases and 618,000 deaths due to the pandemic. An estimated 47 million people may lose their jobs in the United States alone. Oil dived into negative, an unprecedented move. However, the NASDAQ is having its best year having made a V shape recovery, Elon Musk is the 13th Richest person in the...
Here we go for another round of updates to the Oil chart... 📍 Oil TBC....
-Market focused on demand, ignoring pandemic -analysts -WTI up ahead of U.S. services sector data -U.S. oil rigs fall for 9th week -Baker Hughes
Energy is the leading sector this quarter by a wide margin. SPDR Energy ETF was up 38 percent since the end of March through Thursday’s close. That’s 7 percentage points ahead of the No. 2 consumer-discretionary fund . This creates the potential for some positive window dressing with just eight sessions remaining in the second quarter. There are also...
This is what I'm thinking, I received an RSISE on Daily and RSILE on the DXY. But the DXY looks pretty weak so this could be just a dip in crude for buying and the chart forms some sort of I&HS on HTFs. With Goldmen Sachs calling for a pull back and the Fed sounding Dovish about the economy this pull back was needed. I think markets rebound and WTIC heads towards...
USOIL will reverse from now. Previous trade Take Profit was too big, it will not go there because of new OPEC deal. Deal does not mean price will boost fast. Big oil producers are still afraid that price can fall again. Hit the like button if you find it helpful and informative and follow to catch every wave correctly. Previous Analysis
It has been a turbulent week for the markets and social stability. The markets extend their risk on rally during protests around the world for the death of George Floyd and a surprising 2.5m jobs that were created for non-farm employment. This is your week ahead. All dates are in NZDT. Japan’s GDP Annualized – Today, 8th June Japan is an example of a nation...
Usoil Make Wolfe Wave and its Going to Wave 5 you Can See AB=CD you See Bullish Chanel the prive it will Visit 40.20
The last fifth wave in the larger fifth wave of larger wave with A or 1. I predict the oil will reach the previous top by $1.5 which is good for day trader. I make invest strategy on long side until price touch the top or around it. stoploss at $35.85
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• Ref. the effects of COVID-19 and the OPEC (& Russian) trade disputes fuling the fall of Oil prices. • The FIA halting all motorsport events until JUL 2020 (Austrian Grand Prix). • EXXON MOBIL have a sponsorship deal with Aston Martin Red Bull Racing (Formula1 team) ~ Aston Martin Lagonda Global Holdings plc. IPO in Feb 2019 • After the effects covid start to...
looking at SCO for an entry around $16, not sure if this inverse WTI ETF will make it all the way down to the bottom of my triangle, but I will be monitoring this chart going forward as I think WTI will most likely go negative futures again soon.
OPEC cuts down production and economies worldwide are re-opening... although there is a bearish divergence on the RSI would not risk taking a position here. Also we see that when the market falls the try to rise oil prices so that petroleum companies do not crash and act as a buffer to the market downturn
I took the long with SL around 1.06 incase this gets ugly but looks like it started to break out already. I think $4.00-$5 is in play