Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times. Two major benchmarks for pricing crude oil are the United States' WTI (West Texas Intermediate) and United Kingdom's Brent. The differences between WTI and Brent include not only price but oil type as well, with WTI producing crude oil with a different density and sulfur content. The demand for crude oil is dependent on global economic conditions as well as market speculation. Crude oil prices are commonly measured in USD. Although there have been discussions of replacing the USD with another trade currency for crude oil, no definitive actions have been taken.
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.
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 ...
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.
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.
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 ...
Since the 2016 low oil has made equal measured move corrections. If the choppy price action between summer 2016 and 2017 was an irregular correction we could be at important measured move resistance.
I have been chasing a down movement, most of my charts on WTI are bearish although I put a good LONG some weeks ago. (See my twitter feed taking about a triple divergence)
Next week I am seeing a high chance of WTI going down hard, next jump may reach 80's but it has to go down and get some impulse before we get there. The question is how far will it go?
I am ...
57p is an important resistance to break 50% fibs from ATH to last lows.
Once 57p is broken I have a target of 86p.
RSI last bear channel was broken and since then we have been on an ascending RSI channel.
Based on fundamentals I totally believe that SDX Energy has many legs to climb up to my target within the next few months.
