➡️ Oil usually rises and falls with the stock market because the prices of both markets are like a proxy for economic activity. But in recent years, these relationships have collapsed. Oil growth may continue to outperform.
Stock markets fell and oil prices held. It is more likely that oil will continue to outperform equities on a cross-asset basis. If you are in...
➡️ At the moment, in the medium term, the USDCAD currency pair is considered long. Globally, the price is in the range of 1.20000 - 1.45000 and has already rebounded from its lower border. Locally (on the chart) the price is clearly in the balance of 1.24697 - 1.25929 and the sellers are getting ready for another drop to the level of 1.24697 today. After...
➡️ The release of 180 million barrels of US strategic reserves to the market will help the oil market balance in 2022, increasing supply by 1 million barrels per day within six months, analysts at Goldman Sachs write.
According to analysts, the additional supply "will not solve the problem of a structural supply deficit that has been building up over the...
Disclaimer: This asset is not for new traders or those who don't tolerate ULTRA HIGH risks. I don't recommend this trade (also I don't recommend any other trade). This is just my market view on the current moment. It could be TOTALLY WRONG. If my view changes in the future I am not obligated to update this idea or publish a new one.
A terribly evil scenario is under the hood in oil. 5 wave structure of (c) of B is almost complete. It might still reach 135 in a month or so, but EWT-wise it's pointing down over the next couple of years. A measure of wave A in log scale points to a C-wave target of 20-25 sometimes next year. I see similar setups in almost all commodities. Guess China/Taiwan...
please note i made two scenario as per the resistance and trend line and there is a weak in the up trend rsi in 4 hrs and 1hrs as well hopeing for a good trade
already shorted the WTI-USD
CRUDE OIL is overall bullish trading inside our brown rising broadening wedge and now approaching the lower brown trendline acting as non-horizontal support, we will be looking for Trend-Following Buy setups.
Moreover, the 66.0 is a strong support zone.
So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the...
Crude oil chart. My view of this chart is that it is creating an abc flat structure and is currently in wave c. This wave will grow in the form of 5 waves.
ukoil ... usoil ... wtioil ... opecoil
The wave you see in the future price on the chart is a schematic of a possible price trend and will not be formed just to clarify the possible price movement.
This is...
An update on below idea:
Oil hit the 0.382 extension exactly around $84,07 and has since fallen sharply.
In my opinion this is the start of the correction of the move up from the lows in April 2020 to the highs in October 2021 which could end in the $50 to $58 area.
Just theorizing here that we're currently in the middle of wave 3 of A where A would complete...
Update on an oil theory that started back in November 2020:
This idea was that a wave 4 completed at $33, however the move up accelerated and it quickly came apparent that the move up from $33 was not wave 5:
In March 2021 I took another look with the idea that $33 was the end of wave 2 and the current impulse was indeed wave 3 that could end around the $77...
Based on the technical picture, the upward trend in oil prices will continue. Fundamentally, the market needs and will need oil, which will increase the demand for oil. Potentially, the instrument will reach the level of $ 87 and $ 90.
➡️ WTI Oil quotes are trading at $84.15 per barrel. The bullish trend continues, but the growth is limited at the moment. Positive news background does not stimulate quotes for "black gold" so much.
On Thursday, Kuwait began ramping up crude oil production in line with the OPEC+ agreement. Commenting on the situation, Kuwait's oil minister said the country's...
Last Analysis : Well, as we can see, we are technically reviewing Brent oil charts at monthly timeframes. The price finally broke its 13-year downtrend last month ... (This break needs to be stabilized) Currently, the most important support range for Brent oil is from $ 72 to $ 76 ... Brent oil currently has a significant static resistance of $ 85 and we have to...
Working in the oil & gas industry I've always wanted to plot an Elliott Wave idea with oil reaching $100, one that I felt was realistic and not pie in the sky...in my opinion oil is heading that direction now.
The exact 0.382 retracement level from $44,05 to $33,79 at the end of 2020 leads me to believe that was the end of wave 2 and the next retracement will...
