Up until a few days ago I believed oil had a chance of getting back down to 75-95$. It can still get all the way down there, but for the price to get there it would need traditional markets to crash badly. The current production is too low, the underinvestment in production is massive and the oil industry isn't incentivized to drill for new wells. At the same time...
Petro Rabigh chart had performed very well for us last year from sub 14 to 27 SAR and now is about to perform again! The reason for this projection is the underline macro trend that is now confirmed and is about to break to the upside with potential gains of +50%. The method we use is HVF, long tested and proved accurate with combined with volume analysis....
PETR4 seems to be tracing minute wave 3 up of a C counter trend move. If prices crosses up 18.60, the odds increase for this scenario with the most probable target around the 22.00 level. If prices crosses down 16.60, this analysis should be revised. FOLLOW SKYLINEPRO TO GET UPDATES.
11/08/19 47 C 100 basis .32$. 11/15/19 51 C 100 basis .18$. Plotted out every gap fill with ranges and levels. May the best bettor win.
This is a super strong chart when compared in NIFTY 50 since last peak. Price has taken support on Kumo cloud and bounce back up and continue the trend higher. The AD line has fantastically moved upward without major change in the price, this means price is ready for a BO upwards. The target is open and can reach great heights. Happy Trading /...