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UKOIL-USOIL

Still bullishUKOIL Brent (Gulf oil) is still to rise. Monthly ATR is is 107 pips. And this month we did only 39 percent so far. I believe we will end the year at 54.33. But there will be BIG reaction at yearly low 52.28 from where price released in March. I would exit there. Close with daily bearish candle below 8 daily ema on daily chart will be a signal of trend change. Crude oil rise is one of the factors why euro, aud, nzd, cnh had been going up too. FOR EDUCATIONAL PURPOSES ONLY
TVC:UKOILLong
by ICFX
CRUDE OIL Short to Target $20.00 by Christmas 2020.BRENT OIL 1 Week Chart, with Ichimoku Cloud. So we all know from May this year that about $20.00 is the limit where OPEC & Russia will start holding hands and interfere with the oil price. And you think about the below reasons, and look at the Weekly chart.... Reasons: 1. COVID - Economies around the world are NOT recovering to previous levels, LESS consumption by Industry. 2. COVID - More companies are adjusting to remote work, LESS driving, LESS gas consumption bu cars. 3. CHINA - China bought all the cheap available oil, latest prediction is that it would take 45 days just to use that stored oil 4. TANKERS - More tankers are available after they transported oil, More oil to go to floating tankers for storage 5. SAUDI ARABIA - Just had to lower its oil sale prices, 6. RUSSIA - Still eyeing a clash with Saudis 7. OPEC - Turns out UAE produced over its quotas, Iraq wants to be out of the limitations. 8. US SHALE - Some still have to produce, adding to the glut 9. AIRLINE INDUSTRY - Jet fuel consumption have never been this low, and doesn't seem it will be able to recover anytime soon. Conclusion: A SHORT position today ($41.35) with a STOP LOSS of $44.50, TARGET of $20.00... And all in 15 Weeks before Christmas... If the price breaks above $44.50, before Christmas, the trade is null. *NOT an investment advice!*
FX:UKOILShort
by mehmetozgurkaragozoglu
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