New oil forecast for the next 10 days..!
מעודכן
After a sharp 107% move in 67 trading days, oil price experienced a 28% decline and now is back at 50EMA..!
This move has other interesting features as well:
1- Back to the upper border of the broadening pattern:
2- Back to the price action support zone :
3- Retracement to 50% Fibo:
4- AB = BC correction pattern:
And the real reason behind the Drop:
China is facing its worst COVID crisis since early 2020, and China is the biggest oil importer in the world and consumes 25% of it..!
Trading/Investing in 2022 is like walking in a minefield..!
Best,
Dr . Moshkelgosha M.D
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
This move has other interesting features as well:
1- Back to the upper border of the broadening pattern:
2- Back to the price action support zone :
3- Retracement to 50% Fibo:
4- AB = BC correction pattern:
And the real reason behind the Drop:
China is facing its worst COVID crisis since early 2020, and China is the biggest oil importer in the world and consumes 25% of it..!
Trading/Investing in 2022 is like walking in a minefield..!
Best,
Dr . Moshkelgosha M.D
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
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Bullseye
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