STRONG BULLISH RALLY IN OIL | LONG OIL
Current Market Analysis:
Oil has recently reached an 18-month low, now priced at $66.8 per barrel. Historically, oil remains a highly valuable market asset. Given the consistent increase in global energy demand over time and the current pricing, there's a strong indication that oil may have reached its lowest point for the foreseeable future.
Investment Thesis:
Short-Term Outlook: With the onset of winter, energy demands are expected to rise across several continents, potentially driving up oil prices. From a technical analysis standpoint, the market appears oversold, suggesting an impending price correction.
Long-Term Potential: Over the longer term, structural increases in global energy consumption could push oil prices to surpass the $100 mark.
Investment Strategy:
Entry Point: Consider entering a long position at around $68 per barrel.
Stop Loss: Set a stop loss at $66.5 to limit potential downside.
Take Profit Levels: Aim for progressive take profit targets at $74, $80, $90, $100, and $110, aligning with key resistance levels observed historically.
Risk Management:
This investment involves substantial risk. It's crucial to conduct your own research or consult with a financial advisor. The outlined strategy does not guarantee profit and I assume no responsibility for any losses incurred from following this strategy.
Note for Traders: This strategy is designed for investors looking to hold positions over an extended period. Those practicing scalping or looking for short-term gains may find the volatility and entry points less favorable.
Oil has recently reached an 18-month low, now priced at $66.8 per barrel. Historically, oil remains a highly valuable market asset. Given the consistent increase in global energy demand over time and the current pricing, there's a strong indication that oil may have reached its lowest point for the foreseeable future.
Investment Thesis:
Short-Term Outlook: With the onset of winter, energy demands are expected to rise across several continents, potentially driving up oil prices. From a technical analysis standpoint, the market appears oversold, suggesting an impending price correction.
Long-Term Potential: Over the longer term, structural increases in global energy consumption could push oil prices to surpass the $100 mark.
Investment Strategy:
Entry Point: Consider entering a long position at around $68 per barrel.
Stop Loss: Set a stop loss at $66.5 to limit potential downside.
Take Profit Levels: Aim for progressive take profit targets at $74, $80, $90, $100, and $110, aligning with key resistance levels observed historically.
Risk Management:
This investment involves substantial risk. It's crucial to conduct your own research or consult with a financial advisor. The outlined strategy does not guarantee profit and I assume no responsibility for any losses incurred from following this strategy.
Note for Traders: This strategy is designed for investors looking to hold positions over an extended period. Those practicing scalping or looking for short-term gains may find the volatility and entry points less favorable.
Note
Despite all that metrics that favoured bullish it seems that oil has continued it's down trend and reached a low of 65.2 USD
Again on a Longer run we must know that its an essential commodity and the funds cant hedge it for long, it's the black gold it will find it's way up sooner or later.
for all the traders we stay away from the longs for the time being but again we will definately look for oppurtunities around this lows.
A sniper entry could be at 66 with 65.2 being the stop loss and aim for the week high, meaning leave targets open for the given week.
Note Trade at your own risk !!!!
Disclaimer
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