Updated 30/09/23:
- Revised up-trending parallel (green)
- Added down-trending/consolidation parallel (white)
- Added horizontal lines (yellow/dashed) to mark upper/lower range (94.239-87.829)
Everything else stays the same (chartist holy grail lol).
OIL_CRUDE has done an amazing job respecting its upward parallel channel since June.
Could see period of consolidation (foreshadowed by prev price action) into lower trend-line before deciding whether to push higher towards Golden Fib (break upper trend-line), or capitulate to global recession fears & collapse towards 200DMA/23.6% Fib, TBC.
Price action would be biased towards upside given OPEC+ bullish manipulation, however OPEC+ would also be hyper-vigilante on excessive Crude Oil prices which could threaten demand destruction - hence why they opted to review production cuts on a monthly basis to maintain price/economic stability.
- Revised up-trending parallel (green)
- Added down-trending/consolidation parallel (white)
- Added horizontal lines (yellow/dashed) to mark upper/lower range (94.239-87.829)
Everything else stays the same (chartist holy grail lol).
OIL_CRUDE has done an amazing job respecting its upward parallel channel since June.Could see period of consolidation (foreshadowed by prev price action) into lower trend-line before deciding whether to push higher towards Golden Fib (break upper trend-line), or capitulate to global recession fears & collapse towards 200DMA/23.6% Fib, TBC.
Price action would be biased towards upside given OPEC+ bullish manipulation, however OPEC+ would also be hyper-vigilante on excessive Crude Oil prices which could threaten demand destruction - hence why they opted to review production cuts on a monthly basis to maintain price/economic stability.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.