2025/01/07
Daily 4XSetUps - UKOIL Price Action Chart Screams: Buy Buy Buy
“oil prices recover from yearly lows `24 to up to a two-month high!
will trend continue? how long? january? 1st quarter? 1st half `25?”
The oil price action rose today, Tuesday, January 7th, 2025 - after I wrote a long UKOIL Daily 4XSetUps. After slight price losses in early trading, prices turned profitable. By afternoon
UKOIL was already over $77 again. This means that the prices are once again approaching their highest level in weeks, even months, which was reached at the start of the week yesterday, January 6th, 2025. The trigger for the latest price jump on the oil market was the announcement by the leading OPEC state Saudi Arabia that it would increase prices for customers in Asia. In addition to the really, I mean really really good bullish technical picture. The market also referred to funding data from Russia. These were lower last month than agreed as part of the OPEC+ oil network. So the entire current scenario, also due to the fact that the USA is still stuck in US stagflation - and we will not (yet) fall into a recession at least in the first half of 2025 - literally screams for going long in the UKOIL price action. If I interpret the data correctly and project it correctly into the future.Anyway, the price action of
UKOIL has risen since the Christmas holidays and has increased by more than $3 per barrel during this time. I don't expect any big price jumps - admittedly. But I think the probability that the price action will rise to $88 and then fall back to $70 is likely - at least in the first half of 2025. However, volatility is not only to be expected based on the technical picture, but also in the medium term and/or long term could become aware of the price action - even like me too. And/Or especially due to the inauguration of Donald Trump as US President on January 20th, there are likely to be more volatile price action fluctuations! Hopefully upwards?“While I used to get angry and frustrated at people because of the choices they made, I came to realize that they weren’t intentionally acting in a way that seemed counterproductive; they were just living out things as they saw them, based on how their brains worked.”
Ray Dalio
$87.92 : 2024/07/05 - 2nd Quarter 2024 High
$81.12 : 2024/10/07 - 3rd Quarter 2024 High
$77.23 : 2025/01/07 - last price action
$76.79 : 2024/06/04 - 2nd Quarter 2024 Low
$76.08 : 2024/11/05 - November 2024 High
$75.10 : 2024/08/05 - 3rd Quarter 2024 Low
$74.85 : 2024/12/31 - December 2024 High
$70.89 : 2024/12/06 - December 2024 Low
$70.74 : 2024/11/18 - November 2024 Low
$69.95 : 2024/10/01 - October 2024 Low
$68.71 : 2024/09/10 - Annual 2024 Low
In the coming days, bulls will need to maintain price action above the highs of the last two months. Because if the price action remains above $76.08 (2024/11/05 - November 2024 High) and/or even $74.85 (2024/12/31 - December 2024 High), the bulls will defend the territory by more or less $75? $80 for the month of January 2025 is a realistic, optimistic target for now! With Donald Trump's second term in office starting on 20th January 2025, US energy policy will become a crucial factor. Trump plans to boost domestic oil and gas production and could tighten sanctions against Iran and/or Venezuela, impose tariffs on Canada and/or Mexico and allow drilling on federal lands. These measures could put pressure on the oil price action of the
UKOIL if that happens? Until then, we'll let this long UKOIL 4XSetUp run for now. And hope that we won't be stopped out at least due to impending market volatility.------------------------------------------------
$88.00 : 2025/06/30 - Target Price
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$77.23 : 2025/01/06 - last price action
$76.19 : 2025/01/06 - Entry Price
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$70.00 : 2025/06/30 - Stop Price
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Have a good time
- regardless of the price action!
Aaron
“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in
DXY every day so that we learn something new daily.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.