Clear head and shoulders pattern over the last 3 years. Will see more downside/chop before this turns around. But should pop back as soon as Oil price rises and Corona virus jitters ease. Great fundamentals and margins within their industry as well. 1-2 month duration. Will add more to position at $60. Trade at own risk*
Hello, my people, Long time no see, isn't it? The time for the BIG MONEY has finally come! This is the chance of the decade to become millionaires - by investing in oil now. Oil is the door, patience is the key and money are waiting when you open this door. See what's going on - COVID-19 is making oil prices go down, the lowest level for many years....
Headlines: • Crude Drops -28% as Saudi Arabia Scraps Cuts & Plans to Increase Production • Asian Equities Fall Apart as Investors See Strong Risk-Off • COT Report Shows Increase in Short Positions Last Week
So did look at this chart on the weekly. We had an initial downside move after multiple higher lows and higher highs, and we were expecting a lower high swing to be made. This did not happen for many months. The 61.8 fib held, and just on Friday, we confirmed our first lower high swing because remember, to confirm a swing, we need a new lower low (in a downtrend)....
Decreasing demand + increasing supply as the world transitions away from fossil fuels. Corona virus is decreasing demand for airlines/cruise ships/travel companies and therefore accelerating the decline in demand for crude oil. The decline in crude oil is inevitable. Long term short.
Headlines: • Oil Posts Worst Day Since 2008 Down -10.07% • Saudi Aramco Sees Stock Plunge as Oil Prices Dive Last Week • Stocks in Asia Set for Lower Start as Futures Pointing Lower
Friday promises to be an extremely eventful and interesting day. On the one hand, statistics on the US labor market will not let you get bored in the currency and stock markets, and on the other hand, the results of the OPEC meeting will determine the dynamics in the oil market. We will talk about this and much more in today's review. But let's start...
All comments and likes are very appreciated. _________________________________________________________________________________________________________________ Today OPEC+ is going to make a decision to cut OIL production or not to cut. The decision mainly depends on Russia now and thus situation in the Oil market is very binary. Russia, for its part, sees U.S....
Headlines: • Equities Slump as Fears Return to Investor Sentiment with S&P500 – 3.77% • OPEC Ministers Push for Cut of 1.5 Million Barrels to Control Prices into Future • Ceasefire Announced in Idlib as President Putin & Erdogan Agree
Since yesterday, by and large, was the first full day of working out the Fed’s emergency decision to lower the rate by 0.5%, today some results can be summed up. And they are generally disappointing for optimists. In theory, stock markets should have perked up and provoked a sharp increase in stock indices. But this did not happen, that is, there was growth, but...
Headlines: • Crude Higher in Asia Ahead of 2 Day OPEC+ Talks • NOC Loss’ Push Above $2.5 Billion as Daily Production Stays Lows • US Futures Down as California Declares State of Emergency
Headlines: • Further OPEC+ Production Cuts Suggested by Joint Technical Committee in order Prop up Oil Prices • FOMC Cuts Interest Rate by 0.5% in Response to Concerns over Coronavirus • Turkey Continues Attacks on Idlib with a Further Syrian Fighter Jet Shot Down
Headlines: • Australia’s RBA Cuts Interest Rates to Lows of 0.5% Amid Weaker Economy • Crude Up During Asian Session as Optimism of OPEC Cuts Roll into Markets • G7 Scheduled for Today with Hopes of Action on Coronavirus by Ministers
The basic news background is still unchanged: the number of new cases in China is decreasing (+/-500 per day), that is, the epidemic is decreasing. But this is offset by an increase in the number of cases outside of China. And an epidemic from local is increasingly striving to become global. Lockdown in Northern Italy, panic in Iran, growth in the number of cases...
Hi Guys, Please add your comments and if you have any questions please do not hesitate to ask. Thank you for your support and for sharing your 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...
Hi Guys, A nice double bottom at 49.31 and a prolonged divergence with RSI generated a pullback into the descending 100SMA (red). Last Thursday WTI finally reacted to the divergence with RSI as investors focused on the possibility of deeper supply cuts from OPEC. Is the worst over? What are the scenarios? Will price continue to pullback slowly or with a...