NYSE:OXY OXY has market momentum with the ongoing Buffet buying frenzy. It has been in a pattern since the spring 2022 Buffet buying that is a flat bottom triangle. The latest buying seems to be resulting in a breakout from the triangle yet without retest. Rising relative strength on the RSI serves to validate the move. Buffet seems to know that the...
NYSE:OXY Massive Bullish Candle takes out 90 days of price action See the chart for more analysis Time is of the essence as they say; buy now or do not chase !
In this chart, I have plotted the ratio of the price of the USOIL ETF over the DIA, which is the broad ETF for the DJI. The chart shows the USOIL ETF has been stronger than the DIA until the market lows in mid June after which the DIA rebounded while hot oil prices cooled off. The analysis would be is that oil prices may be relatively undervalued at present...
It has been one of the most dramatic years for oil markets ever. From demand destruction caused by the coronavirus to the Russia-Saudi price war to US crude prices turning negative. What does it all mean for the oil industry and ‘Big Oil’? ## Saudi Aramco and Sinopec are not traditionally part of ‘Big Oil’ but they are huge global players worthy of being listed.
A gigantic transfer of wealth is about to occur from big Oil to the wise investors that were able to get into the next source of energy early enough. Let me remind you the Oil market makes TRILLIONS of revenue a year, and the market cap of Oil is too big to fathom. Evil misguided greedy Wall Street cannot stop this train. We are powerful, we are standing storng...