Note: In the chart above I have provided a clear distinction between what I would consider to be CONFIRMED CHANNELS that have been held for a considerable amount of time.
Points:
1. With todays trading day on 12/13 we moved back into oversupply territory where price action failed to hold.
2. Oversupply move confirms a rejection of the 200 EMA Line.
3. Key Level...
UKOIL Brent crude is due to continue rising during the summer at least up to $55-60. High gasoline/petrol during the warmest season of the year is already taking place. Oversupply is not lasting long for a finite commodity specially in an increasing more volatile and unstable world where plenty of conflicts accross the globe are arising. We shall never...
Gold has a historic relevance as being a price appreciator in times of volatility, geopolitical risk and economic uncertainty.
Current day presents a plethora of risks both economic and political; from emerging market credit risk through to south china sea politics.
Oil, like Gold has benefitted from a fall in the USD which has lead to some price recovery,...
The fundamentals are still bearish at the moment, thanks to global oversupply. The weakness in WTI is caused by the moderately declining U.S. production, increase in the output of OPEC and the return of Iran to the world stage, as sanctions were lifted. The fears of further oil decline are further overlined by the decision of Saudi Arabia and Kuwait to restart...
