So did look at this chart on the weekly. We had an initial downside move after multiple higher lows and higher highs, and we were expecting a lower high swing to be made. This did not happen for many months. The 61.8 fib held, and just on Friday, we confirmed our first lower high swing because remember, to confirm a swing, we need a new lower low (in a downtrend)....
Oil fell to a 4-year low as Saudi Arabia launched a price war on Saturday with the announcement of plans to increase oil output next month, looking to boost total output above 10 million barrels a day. This will be the largest reduction seen in oil price for foreign markets in 20 years. www.bloomberg.com This comes as China, the #1 importer of foreign oil,...
Natural gas prices slumping nearly 40% over the past year and is showing a retracement in the Asia session. Saudi Aramco has announced that it will be pumping $110 billion over the next couple of years to develop the Jafurah gas field, which is estimated to hold 200 trillion cubic feet of gas. The state-owned company hopes to start natural gas production from...
OIL BUY TP_63.40_7.73%_4.548pips_SL_58.13_1.22%_0.717pips
Summary • TASI / KSA break out of bull head & shoulders bottom trend reversal pattern. • Indicates continuation of long-term upward sloping trend channel. • Key Fibonacci zone targets marked on enclosed charts. Bullish reversal is indicated as the Tadawul All Share Index (TASI) (Saudi Stock Market) breaks out of a head & shoulders bottom reversal pattern at the...
The previous week for the foreign exchange market was marked by record-low volatility. Even the blackest Friday of the year did not desire to buy or sell actively anything. The informational background of the week was relatively calm. Negotiations between the US and China were moving somewhere, according to the assurances of the parties. But the markets are tired...
JUST ITS NOW IN BUY ZONE YEMEN AND SAUDI WAR THIS MAYBE HAVE NEWS MIDDLE EAST ON EDGE OF FIRE AND OIL & GOLD WAITING FOR JUMP LIKE MISSILE
Taking a look at USOIL on the monthly shows a key level of a support resistance where price is ,moving towards. Price is in an important zone of support and I am now expecting price to retest the long term support trend line before a bullish rally. Or a rally upwards immediately. There's been a nice rejection of the lows on the support zone after a reversal...
The publication of US employment data from ADP came out yesterday. However, the outcome did not form positions in the markets. The + 135K figure came out almost in line with forecasts (experts expected + 140K), so the markets did not get an answer to the question of what to expect from the NFP figures. Although in general, the vector is unpleasant for the US...
There's lots of bad news for crude oil prices right now. Yesterday, OilPrice.com reported that "the American Petroleum Institute (API) has estimated a large crude oil inventory draw of 5.92 million barrels for the week ending September 26—a surprise compared to analyst expectations of a 1.567-million-barrel build." This morning, the US Energy Information...
The US dollar value is growing in the foreign exchange market. Although we do not agree with the current dollar state, however that what is happening. We are conscious of the futility of trying to go against the market will, but the sensation of the illogical nature of what is happening and the current dollar value still does not pass. So today we will continue to...
The political scandal in the United States and Trump's coming impeachment proceedings. So the US stock market was falling against this background, the dollar was striving for multi-year highs. Such behaviour could be explained by the weakness of competitors. The euro, for example, received a number of painful hits both from the weak data on the Eurozone (consumer...
Statement by US President Donald Trump that the agreement with China could be concluded “earlier than you think.” let to the volatility on the financial markets as well as gold. Considering that in the last six months there has been more than enough speculation on the topic of negotiations between the US and China, we have not rushed to draw conclusions and work...
Some cases are still unresolved also news that the Chinese delegation has cancelled a planned visit to American farms only exacerbates. So yesterday's gold growth was more than logical against the backdrop of fears of the failure of negotiations on trade wars. Our position on gold is unchanged - we continue to look for points for asset purchases. This is...
Brent has fallen once again to the top of the support zone in use since the attack on Saudi infrastructure. Bulls will be on the lookout for a reversal here.
Easy trade, attack on oil facilities in saudi is disrupting about 5% of global supply, will look for price to rally. (though strategic reserves will be withdrawn and other opec producers will open taps to counter this shortage) May exit lower than 75$ Most important thing is to enter trade as soon as market opens.
Tensions are climbing in the middle east and they are climbing fast. Accusations have been made and whether or not they were responsible for the attack, there is a giant target on Iran right now. With all the crap going on in the world, Deteriorating middle east is not far fetched. I sure hope it does not happen but it's looking inevitable. A conflict of this...