TSLA
Tesla
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-- 108.760 PLTR
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-- 78.050 AAPL
Apple
-- 220.840 GRRR
Gorilla Technology
-- 26.990 
Will Oil Rally?
Oil had a solid green day yesterday when OPEC mentioned possible production cuts to stabilize volatile oil prices. This shows that they favor these high oil prices. There were talks that the Iranian nuclear deal will take longer than expected to reach a close of the deal. Part of the Iranian nuclear deal will allow Iran to release its oil back into the markets. This is one of the main reasons OPEC mentioned possible production cuts. Monday was bullish for oil.
Tuesday was a complete reversal as fears of a global slowdown continues to weaken future hopes of higher oil prices. This was due to be ECB hinting towards a .75 bps rate hike to fight inflation. Not to mention the Federal Reserve hinting towards higher interest rates for longer than expected. These two factors hinder growth which is negative for oil.
Where will oil futures price go to next? Keep your ears open for any news that pertains to supply or demand of oil. For example the oil pipeline problems in Kazakhstan effecting the supply side. The next possible major catalyst for oil futures will come on September 5th when the countries of OPEC meet to discuss future oil policy.
The technical outlook is a simple price channel with well defined support and resistance levels to trade with. You can see the price channel in the chart below. Until there is some kind of catalyst to break the price out of this range then this price channel is the only thing we have to go off of.
I should mention the long-term support level that crude oil future's price is hovering just above. If the price dips below this strong technical support level then it will look a bit more bearish on the long term outlook technically speaking. It would even make the two previous highs in oil appear like a bearish double top candlestick formation.
https://youtu.be/CCsr7734lXk
Check out the video "Will Oil Rally?" in the link above. The quality of my videos will improve as time passes. I am not a content maker by any means so Im open to any criticisms or suggestions on how to improve the content. Feel free to let me know.
Check out the video "Will Oil Rally?" in the link above. The quality of my videos will improve as time passes. I am not a content maker by any means so Im open to any criticisms or suggestions on how to improve the content. Feel free to let me know.
$SPDR S&P 500 ETF (SPY.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $Invesco QQQ Trust (QQQ.US)$ $Micro Crude Oil Futures(APR5) (MCLmain.US)$ $Exxon Mobil (XOM.US)$ $Chevron (CVX.US)$ $Imperial Petroleum (IMPP.US)$ $Valero Energy (VLO.US)$ $Phillips 66 (PSX.US)$ $Devon Energy (DVN.US)$ $Occidental Petroleum (OXY.US)$ $BP PLC (BP.US)$ $Marathon Oil(Delisted) (MRO.US)$ $Marathon Petroleum (MPC.US)$
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Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
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iamiam : I was looking for the vote!![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
i vote HIGHER!
iamiam : I was looking for the vote!![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
i vote HIGHER!
SuperMusk : u should start a youtube channel!
SpyderCall OP iamiam : I was hearing the oil trumpet yesterday. oil is trying to end this downtrend it seems. still need a little more to go. possibly very soon.
SpyderCall OP SuperMusk : only two videos. the quality is kind of poor. I'm just starting off. you know testing the waters, getting my feet wet. I'm going to post more videos with potential long or short opportunities. But I'm just beginning so the content will come over time
warrior-sailormoon : I almost wanted to close my oil calls on Monday but I didn’t and they crash down on Tuesday. Blame myself for being too greedy. But will continue to hold until it’s peak
warrior-sailormoon :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
warrior-sailormoon : U did great
Dons hobby : Where do I go Spyder ? I didn't think you put up any videos yet, when you were telling me about it I didn't know when you gonna start it.
SpyderCall OP Dons hobby : there is a link at the bottom of this post. I only have the two videos so far. its a work in progress. im still feeling it out
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