Some thesis:
Oil is more than enough worldwide. Supply exceeds demand.
Transition to electricity.
Shale oil - another attempt to manipulate.
Saudi Aramco - is the largest capitalization company in the world (another not a good signal for me).
We can propose many fundamental arguments, but this is a virtual trading chart (little connect with the real life). It is a world of financial markets. There are a few arguments from financial markets:
1. Largest players in oil futures are Goldman Sachs, JP Morgan, and City Bank.
2. All of the world's oil is traded exclusively for dollars (petrodollar). Some people wanted to change the system. Now they are dead. Saddam Hussein, Muammar Gaddafi, Christophe de Margerie, and possibly someone else. Therefore, oil is another instrument to strengthen the dollar. For example, now you can buy 2 barrels of oil per $100, and if the price is $20 you can buy 5 barrels. The same story happened in 2014 when oil fell from $100 to $30. Saudi Arabia has been talking to the media for a year about increasing oil production. As you understand, they do not participate in the formation of oil prices cause we see a chart of futures oil. All national currencies depreciated, and the dollar strengthened.
3. Most likely, they will use these instruments during the coming falling of the US economy.
4. We are moving in the downtrend channel.
5. Cycles.
Best regards,
EXCAVO
Oil is more than enough worldwide. Supply exceeds demand.
Transition to electricity.
Shale oil - another attempt to manipulate.
Saudi Aramco - is the largest capitalization company in the world (another not a good signal for me).
We can propose many fundamental arguments, but this is a virtual trading chart (little connect with the real life). It is a world of financial markets. There are a few arguments from financial markets:
1. Largest players in oil futures are Goldman Sachs, JP Morgan, and City Bank.
2. All of the world's oil is traded exclusively for dollars (petrodollar). Some people wanted to change the system. Now they are dead. Saddam Hussein, Muammar Gaddafi, Christophe de Margerie, and possibly someone else. Therefore, oil is another instrument to strengthen the dollar. For example, now you can buy 2 barrels of oil per $100, and if the price is $20 you can buy 5 barrels. The same story happened in 2014 when oil fell from $100 to $30. Saudi Arabia has been talking to the media for a year about increasing oil production. As you understand, they do not participate in the formation of oil prices cause we see a chart of futures oil. All national currencies depreciated, and the dollar strengthened.
3. Most likely, they will use these instruments during the coming falling of the US economy.
4. We are moving in the downtrend channel.
5. Cycles.
Best regards,
EXCAVO
Trade active
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1. Register at partner.bybit.com/b/excavo
2. Send your UID to t.me/excavo
3. Get a link to the portfolio
t.me/excavonews
t.me/excavochannel
Admin:
t.me/excavo
1. Register at partner.bybit.com/b/excavo
2. Send your UID to t.me/excavo
3. Get a link to the portfolio
t.me/excavonews
t.me/excavochannel
Admin:
t.me/excavo
