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Crude-oil

ridethepig | USDCAD Market Commentary 2020.11.25This linkage with Oil is a well known school, which believed only in absolute freeing moves can be a forced to be reckoned with. In 90 cases out of 100 I consider it worth recommending. Even after the defensive breakdown in Oil with Covid chapter I, it should in no way b overestimated that we are suddenly reaching the previous breakdown manoeuvre. Thus in this position, what is in play is a cleansing of USD shorts as the move got out of hand. Some large macro players were caught on the CAD bid yesterday, out of position if you ask me and well into the middle of the range. Asking for a squeeze up towards 1.306x and 1.314x. Thanks as usual for keeping the feedback coming 👍 or 👎
Long
by ridethepig
Crude oil On the top, we can see a rising wedge and we already break out the resistance line. waiting for 23.6-32.8% level Fibonacci The additional shift of workers to remote work is a bad prospect for the oil industry. This means that tens of millions of people in developed countries will greatly reduce the movement of their cars. Only this factor for 2021 means a decrease in world oil demand by 0.4-0.8 million barrels per day (or 0.4-0.8% of oil consumption). Best regards EXCAVO
TVC:UKOILShort
by EXCAVO
7
Bearish Idea on Crude Oil Consider this just an idea, IF the scenario happens, we will have an interesting setup to take, and if not, we don't do anything, and that's always good for your trading capital. Main items we can see on the chart: a) The price was inside a compression b) Currently, we can see a bearish breakout of the previous structure c) This doesn't mean that the price should start a new bearish trend. The price has been on a bullish movement since APRIL; we need confirmations first. d) That's the reason we will wait for a clear pullback to the broken structure. IF that happens, we will trade towards the next support zone.
NYMEX:CL1!
by ThinkingAntsOk
1