Technical Analysis for Energy Markets
Support at 36. Resistance at 38. Continued presence below 37 is bearish. Risk reward ratio is high says the analyst. does this mean too much risk?
Please support or resistance this thread. This is a direct competition to where is oil heading by our competitor.
Re: Technical Analysis for Oil
why this competition thread?
If the price was determined solely by demand/supply factors it could probably be studied via the resistance/support phenomena, but there is lots of geopolitics involved so IMHO this won’t truly be applicable here. As soon as there are signs of ‘war’ or ‘hostility’ in the oil-rich region the resistance/support theory will fly out the window… what say you?
Re: Technical Analysis for Oil
Kaptaan saab, no competition. This was a Technical Analysis article. So I thought it belonged in the comedy section. These jokers just move their support and resistance levels such that they are always right.
Right now storage all over the world is almost used up. Production has barely fallen. Demand is weak. Some offshore production is kicking in. Iran joins the picture.
So oil projected to stay low for these reasons. Who knows what will happen.
We will go back to your thread to discuss oil. This was only topi drama.
Re: Technical Analysis for Oil
@Captain1 I think you are right. Recently concluded OPEC summit showed it. USA lifted some economic sanctions imposed on Iran on uranium enrichment aka nuke issues due to these sanctions Iran's oil production suffered for many years. Now after removal of some sanctions, Iran want to raise it's oil production to balance loss caused. Earlier Saudi Arabia denied to lower down saudia oil production inorder to bring down American oil giant (out market US oil companies). Small oil producing countries suffer due to lower prices. We see OPEC group (cartel) is loosing it's significance. World is producing more oil than demand.
Re: Technical Analysis for Oil
for an accurate answer i'd like to know under what nakshtaram and raashi was oil born?
Re: Technical Analysis for Oil
@queer kis bat ka answer?