Energy commodities are mostly hard commodities that are mined or extracted. They include fossil fuels like Coal, Oil (in various blends and grades) and Natural Gas. The price of these commodities is one of the most watched economic indicators by traders, economists, governments and businesses given the correlation between economic growth and energy consumption. Their price is influenced by global economic up- or downturns, by production cuts or increases and by emerging green energies. Their price influences other commodities since it takes energy to produce them.
Energy commodities are widely used in industrial applications and they drive inflation, which makes them an effective hedge against it. You can trade or invest in energy commodities through futures contracts, options, exchange-traded funds and stocks of companies in the energy sector. Oil is the most widely traded commodity worldwide and the Oil room is one of the most popular custom chats on TradingView. We also have an active Natural Gas room where traders talk in real-time about where the market is going.
Strong support at 4.20p below last placing price.
200ma, 50%fibs, RSI ascending trend and placing price all a big factor for a bounce.
We should hold this level but if wrong then 61.8% is a possibility, I would doubledown if so.
USD CAD looks great on every timeframe except the weekly...Looks like we could be inside of a falling wedge. 1.30 has proven to be strong resistance many times in the past, the weekly close candle looks like a hanging man. Crude oil dropped big on Friday, if we get a bounce in oil, this may drive UCAD down...
Looking to bounce from 0.50 fibs at 59.4p and next leg should take us to 82.9p target
0.50 fibs are very strong usually and many traders buy at this retracement.
Waiting for next swing, so far it's looking really good for a run towards 14.9p resistance and hoping to break with the right news.
Holding from 10.8p 2nd entry.
Trend line broken
It held above the 0.5 fibs and now above 0.386
ascending CCI and broken above last RSI resistance
my 1st target is 7.74p where I will slice or sell all depending on news.
Oil price is at great level at moment.
Crude oil is trading just above a significant resistance level - there has been a few closes above and given the recent momentum we can expect the upward trend to continue. The risk/reward ratio looks favourable. Order put in for 71.40 with a stop loss at 70.90 and a take profit at 75.70 which is just below the second horizontal resistance line.
Brent Crude Oil continues to trend reasonably well since bottoming out around $44 June last year. We then saw a break through resistance at $58.35 in October which may have provided an aggressive entry for traders keen to catch the beginning of a potential bull trend , a few months later though further conviction of upside momentum was seen as price paused at the ...
SDX has been delivering every time, it has been a slow run but let’s not forget that we were at 75p before we drilled any wells.
Now we got 7 out of 9 commercial gas discovered.
Last placing at 1.3p
Funding in place.
Not many shares in issue.
Read RNS's & DD list.
Bounce off the 200ma
A break over 50ma & 20ma (getting close) will bring further traders and sentiment.
With the right news this year LOGP could rise to 2.63p
Have risk management in place.
Looking good at moment but for a confirmation look for a close above the 50ma if you want to play it safe.
Been adding at support line, the lowest we got was 7.95p.
Holding support well at 50% fibs.
Undervalued.
Upcoming drills.
Brent now over $75
Already on well 5 of 10
next operational update could be close to 2000bopd.
WTICOUSD double rising wave structure. I expect the exchange rate to rise further. The rate of rise may be equal to the size of the first wave structure of 0A. The target price increase for BC wave structure is 79 usd. Then I expect a correction, the size of which is close to the structure of the AB wave. At this point, the exchange rate may fall back to the USD ...
