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https://invst.ly/7t-rh old friend EMA200 is resisting. if we turn i think itll be from EMA200 or at ~7505 region due to friday's "channel". otherwise up to close the gap at ~7560
Good morning everyone, Expecting Sideway trading today... 73.30-74.80+.... planning to place LP around low 73 SL at 72.40 and aTP 74.80+... good luck.... kindly note that this is not an trade advice...place ur trade at your own risk... I just shared my pov, could be wrong... I’m normal human being
Rather bearish near-term after Brent rallied back up to test its 50-day SMA. Shoter-term bearish trend, long-term bull trend.. . https://invst.ly/7txh7
Shorting on Monday. Seems like there was a lot of people settling in with their shorts for this coming Monday. Market sentiment quickly shifted as Friday trading drew to a close.
Daniel Van In Well, you have a good point. Usually when Asia takes a direction it is being countered by europe and/or US. But I do think traders will see shorting oppurtunities if it goes up. We shall see.
Samuel Johnyou're right, just like how the WTI gap on daily took a month to fill, this one might as well. i would have to speak to my long term traders to find out the significance of having the gap on all timeframes though. if any
According to Kazempour, Venezuela had said its output would partially recover in the next three to four months, another reason why other producers should not step in to compensate.
“Venezuela told us that 300,000 bpd will come back,” he said
Shanu Lia I havent paid much attention since friday morning. Still there should be strong support on 73-73.50 area. But what I cant wrap my head qround is the potential risk in equities. This trade war can trigger some nasty stuff. For instance Daimler stated in their report that the extra toll was giving them a big downside on profits. And this was on Bloomberg called just a bad excuse. HOWEVER! Extra toll do give a najor *****to profit to that company and many more ofc. So Trump wants producers to manifacture the goods in the US. But seriously? Competing against germany and china is pretty rough. If he takes this further it will cause MAJOR inflation. So Im kinda bullish for oil anyways, but will leave room for drop below 70 and even more if panic kicks in. To top it off I do think oil companies want a lower price during summer. Main point is I think we will go to 80-100 later this year. Im not good at day to day predictions. Which my 78 target for friday clearly proves.
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