Oil prices surged today, reaching their highest level since October 2023, amid heightened geopolitical tensions between Israel and Iran. The increase comes as Israel braces for a potential retaliatory strike from Iran following a recent Israeli attack on an Iranian diplomatic compound in Syria. This latest development adds another layer of uncertainty to the...
Oil prices surged during the latest OPEC+ meeting discussions, showcasing a 1.2% rise in U.S. crude futures at $78.77 per barrel and a 1.1% climb in Brent crude to $83.78 per barrel. The market buzzed with expectations of deeper output cuts, despite existing pledges from OPEC+ members to cut global oil output by about 5 million barrels per day. The delay in the...
S&P 500 INDEX MODEL TRADING PLANS for WED. 09/06 As we wrote in our trading plans published yesterday, Tue. 09/05: "Markets appear searching for a direction, with a mild bias to the upside which appears to be waning. This week could reveal some clues as to the near term direction". In this morning's session so far, markets continue to be listless with the bias...
S&P 500 INDEX MODEL TRADING PLANS for TUE. 09/05 As we wrote in our trading plans published Fri. 09/01: "The NFP numbers paint a picture of potentially the hoped-for Goldilocks scenario could continue into the next Fed meeting, continue to push up the markets higher. On the flip side, any weakness in today's regular session could indicate the beginning of the end...
I wanted to draw your attention to an essential development in the oil market that warrants caution and careful consideration. As you may be aware, oil prices have recently entered a bearish channel, indicating a downward trend in the market. Furthermore, the simple moving average (SMA) for oil prices has declined steadily over the past few weeks. When taken...
As you may have noticed, oil prices have recently ticked up on bargain hunting, but demand worries continue to weigh heavily on the market. While this may seem like a good investment opportunity, I urge you to exercise caution. The global pandemic has caused unprecedented disruptions in the oil industry, and the future remains uncertain. Demand for oil is likely...
UK Oil/Brent As we can see price is going down in descending channel. Bearish divergence is formed and signalling for lower targets. I will expect to reach region of $69 by the end of March and area of $57 by June/July. Let me know what you think!?
US crudeoil is at support level . it is also trading at very support level of channel pattern . According to chart pattern analysis we might see bounce back in us crudeoil from current level towards the 80 level . trade with stop loss and own capital risk management. views / opinions are welcome to discuss.
How have oil markets evaded the bearish sentiment in equities in the last six months? Have the fundamentals between the two risk markets really diverged or, as the OPEC1 claim, oil markets have simply been panicking? Is the discrepancy now getting corrected? Might the cure for high prices be high prices? Commodity prices are ultimately a function of demand and...
Good day friends... spotting reluctance has really helped my understanding. From avoiding being caught in the wrong direction to forecasting, to setting targets....spotting reluctance just puts probability on our side... isn't that what we want as traders? to put probability on our side? So you may ask, how do we spot reluctance... going back to this UKOIL chart,...
Expecting a bull run for oil, after Monday’s fall on Oil. Market formed a bearish reversal, technically I’m expecting the market to pick orders into $108, then finally move on, on a new setup. NB: not a financial advice tho, risky!!!
Oil companies still have room to continue rising and continue the trend that began at the end of October last year. After they reached a peak as of March, they have been on hiatus, but this, from my perspective, will not last long and we will see a continuation of the trend soon. Likewise, I see it likely that oil prices will continue to rise in the following...
looking for another bounce before the next bear market.
Still seeing this massive IH&S forming and crude oil. I am watching WLL & OAS and few others bottoming today and looking ready for another push higher. But part of me thinks the next push will be a LH on HTFs B4 crude slams down to $20. Weekly RSI on many stocks r in overbought territory and that will probably be the final shake out. Hourly RSI up to daily r way...
Hi traders, If you want you can start watching for SHORT TERM Sell setups back to the previous bottom around 37. For buyers, let the price come down to 37 then we will start watching for buy setups.
Technically - The price has retested the channel support which implies that there is a possibility for pull back. - Also the momentum is still strong as can be noticed from MACD 4C - The 30 period MA is sloping upward Fundamentally - The economies are opening up from Covid19 pandemic which will likely boost demand and Oil price - On the supply side, the crude...