Yesterday oil reached its minimum in the past month. It happened amid the information from Saudi Arabia that the country made a pledge to compensate any shortage of oil in the market associated with the US sanctions against Iran. In fact, we are talking about a sharp increase in the production of Saudi Arabia. Which in turn, could trigger a new round of struggle...
TP#1 76.00 TP#2 75.00 TP#3 72.70 TP#4 70.00 SHARE YOUR THOUGHTS!!!
Oil is about to fall all the way to 70 with further downside in the long run. TP1: 70.00 TP2: 65.00 Good Luck and Trade Safe!
Looking at the long-term analysis on the 1D view of Crude Oil, it looks like it is headed downward. Swing trade wise, it could still go up to 67/68 region, which you can swing trade if the opportunity presents itself. However, long-term view Oil is headed downward from it's July's high of 74, prices are below ichimoku cloud which is bear market indication. Now it...
It's tough to imagine being anything but long-term bullish on Tesla. There's strong resistance at $400. May consider buying more if it ever breaks, but with the recent news that Tesla will remain public, it could be a while before that happens. Until then, I may buy on dips, but don't expect any huge short term gains. I'm in it for the Tesla mission. However...
Today, the indicator "Kenji" on the daily Oil (WTI) chart generated a sell signal. Let's give some explanations on this signal. This is the ordinary signal to open the trade with a basic volume . According to the indicator, the price of Oil (WTI) is currently in the active downtrend phase (the area between the fast and slow average is colored red). At the...
Today, the indicator "Kenji" on the daily Oil (WTI) chart generated a sell signal. Let's give some explanations on this signal. This is the ordinary signal to open the trade with a basic volume . According to the indicator, the price of Oil (WTI) is currently in the active downtrend phase (the area between the fast and slow average is colored red). At the...
Today, the indicator "Kenji" on the daily OIL chart generated a sell signal. Let's give some explanations on this signal. This is the ordinary signal to open the trade with a basic volume . According to the indicator, the price of OIL is currently in the active downtrend phase (the area between the fast and slow average is colored red). At the same time,...
Hello Traders, In this Elliott Wave Analysis, we will have a look at Oil. OIL short-term Elliott wave analysis suggests that the rally to $75.31 high ended in red wave III. Down from there, the larger correction in red wave IV is taking place in 3, 7 or 11 swings before Oil resumes higher. The internal of the first leg of the decline from $75.28 high took place...
Bearish Divergence on 1D and 1W, the June close is acting as a strong resistance, waiting for US crude oil inventories to be released this morning. OPEC oil output has increased in an attempt to keep prices near $70 which coincides with target 1. Trade wars also seem to be having an impact on oil prices. Target 1 aligns with weekly open level that should act as...
Despite the fundamental breakdown that brings the results of the last meeting of OPEC to the oil market, investors and traders do not have time and opportunity to reevaluate their views on market conditions due to a number of events affecting prices on the oil market. Last week, we already talked about the fact that the shutdown of the oil plant in Fort McMurray...
Next Weekly Supply Zone/OrderBlock + 61.8% Retracement from the drop. Will update w/ a setup in the future as always
The increase in oil that we observed on Tuesday is largely due to news about production problems in Canada and Libya, as well as data on US oil reserves from the API. It's about stopping an oil refinary in Fort McMurray (Canada) due to an accident (a transformetor explosion). According to current information, it will take about a month to repair it. The losses...
On June 22-23, OPEC met in Vienna. The main issue that was on the agenda was the increase in oil production. Recall, Russia and Saudi Arabia have taken the initiative to increase oil production. In the last report, we reviewed three possible scenarios. Actual results are something between the compromise and the initiative of Russia (production growth of 1.5...
The white strip for oil seems to have ended. Not a day passes without negative news for oil buyers. Last week ended on a rather minor note - the number of active oil drilling rigs in the US rose again (albeit very slightly, but this was the 11th consecutive week of growth) and reached its highest mark since early 2015. That is, American shale continues to grow....
Given the nature of the news that has recently come out on the oil market, we believe that it's time to seriously talk about mid-term oil sales. This is a reduction to $ 40 per barrel and lower. What can be the basis for such a movement? Here are a few key arguments: 1. Saudi Arabia and Russia are increasing their oil production (the Saudis have increased their...
Today, the indicator "Kenji" on the daily oil chart (WTI) generated a sell signal. Let's give some explanations on this signal. This is the ordinary signal to open the trade with a basic volume. According to the indicator, the price of oil is currently in the active downtrend phase (the area between the fast and slow average is colored red). At the same time,...