SCO is at a critical point right now. It seems that the large H&S has played out and quickly retreated after Trump tweeted about a potential deal between Saudi and Russia to cut oil production by 15 million barrels. No one knows exactly what the outcome of the OPEC talk occurring next Monday is going to be. If the plan falls through and political tensions...
So what I was thinking; Could this be a "buy the rumor sell the fact"? Dispite no actual deal, the oil market went up significantly. What if we have a "no-deal" tomorrow, or the cutback will only be by 5 million barrels. Anyway keep an one eye on the news and one eye on Trump's Tweets.
Saudi Telecom shows a strong bullish momentum. There will be a correction and then it will increase more.
Here we are tracking the continuation of the move down in Oil. On the demand side, manufacturing is starting to slow and we are outguessing signs of the effects on the demand side. Equities wont be able to hold Oil up for too much longer, this is starting to look clearer by the day. Prices will have to fall to offset the move in demand, once this starts...
The Saudi price war was a flashpoint for today's action but it's really all about coronavirus. The news on the weekend worsened with too many cases and outbreaks to count. The conditions for a panic were evident the moment markets opened plunged heavily lower. Japanese market participants invest abroad massively but when uncertainty hits, they bring their money...
OPEC said to be pushing for more than 1 mil bpd of output cuts. Russia said to have opposed plans to deepen OPEC+ output cuts by 1.2 mil bpd. We can't forget BOC rate decision ahead and which should create some volatility in the loonie and it might have some positive or negative effect equal for oil aftermath but I think there are hidden bulls at the oil market.
Given recent tensions in the Middle East, the Saudi Arabian ETF sold off and back-tested the previous resistance trend-line. The ETF has now rebounded off this trend-line, and looks bullish to continue to the July highs. Given the slightly weaker dollar macro picture, EM countries should be supported. KSA is a good play for a de-escalation in the Middle East and...
4 years is a decent head start to position and bet on AMERICA as the defcto OPEC .. ARMCO shares tanked $500bn from $1Tr iPO | $35 <---37 Saudi should likely use the proceeds to acquire Arms from defense contractors which Spiked 12% lockheed grumman etc..
My opinion only - don't use as investment advice
Hello traders. This weekend, YEMENI REBELS have taken credit for a MAJOR DRONE STRIKE on Saudi Oil production, affecting their total output by HALF and therefore decreasing global supply by 2.5%. Shortly thereafter, American officials turned to IRAN to place blame. The American government has been pining for this conflict for a very long time. With any luck,...
Hello Traders, The second scenario "which I wrote previously" could be valid, which we are in wave 2 and should see wave 3 coming. Position Strategy When the price reaches 7.40 Saudi Riyal, we should respect the bullish bar on the monthly chart, and go long, with a lost stop of 6.09 Saudi Riyal. This scenario is only confirmed when the price hits a price...