Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
OIL: V-shape recovery
2020-05-19 • Updated
If the stock market observers are discussing whether it will be an L or U-shape recovery, the oil market definitely looks like a V. $33 marks now the local resistance level, which hasn’t seen the WTI price since the beginning of March, when the epic plunge started. Very likely, the price will go into consolidation or step downwards from it, but the fundamental landscape favors bulls now. The oil glut is dissolving, the demand is catching up, economies are recovering and the petroleum states seem to have an agreed stance on the global supply strategy. Therefore, it is advisable to watch while the oil price plays around this resistance level and step in once there are signs of the next bullish breakthrough.
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Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
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Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...