Oil is Ready for an Uptick
Oil futures have been crashing due to major world organizations calling for a major slowdown in global growth. Oil started to rally when OPEC mentioned they will cut production of oil by 200 million barrels per day. That was really bullish news. Tickers like $Exxon Mobil(XOM.US$ and $Chevron(CVX.US$benifited nicely from the news. Now it looks like oil futures are going to start trending upwards. Check out the short video to get the technical analysis on oil futures.
From YouTube
Remember that growth should be slowing so this should be negative for oil prices. But apparently OPEC can tighten supply as much as they want to. So who knows where oil prices will end up. Just follow the trends and the technical levels.
$SPDR Dow Jones Industrial Average Trust(DIA.US$ $Invesco QQQ Trust(QQQ.US$ $SPDR S&P 500 ETF(SPY.US$ $iShares Russell 2000 ETF(IWM.US$ $VIX Index Futures(AUG4)(VXmain.US$ $Gold Futures(DEC4)(GCmain.US$ $Powershares Exchange Traded Fd Tst Db Us Dollar Index Bullish Fund Etf(UUP.US$ $SPDR Gold ETF(GLD.US$ $iShares Silver Trust(SLV.US$ $Ishares Iboxx $ High Yield Corporate Bond Etf(HYG.US$ $Ishares Iboxx $ Investment Grade Corporate Bond Etf(LQD.US$ $iShares 20+ Year Treasury Bond ETF(TLT.US$ $Crude Oil Futures(SEP4)(CLmain.US$
$TENCENT(00700.HK$ $SSE Composite Index(000001.SH$ $CSI 300 Index(000300.SH$ $CSI 300 Index(000300.SH$ $FTSE Singapore Straits Time Index(.STI.SG$ $NIO-SW(09866.HK$ $NIO Inc. USD OV(NIO.SG$ $NIO Inc(NIO.US$ $BILIBILI-W(09626.HK$ $Bilibili(BILI.US$ $Baidu(BIDU.US$ $BIDU-SW(09888.HK$ $XPeng(XPEV.US$ $Li Auto(LI.US$ $BYD COMPANY(01211.HK$ $BYD Company Limited(002594.SZ$ $S&P/ASX 200(.XJO.AU$ $FTSE Singapore Straits Time Index(.STI.SG$
$TENCENT(00700.HK$ $SSE Composite Index(000001.SH$ $CSI 300 Index(000300.SH$ $CSI 300 Index(000300.SH$ $FTSE Singapore Straits Time Index(.STI.SG$ $NIO-SW(09866.HK$ $NIO Inc. USD OV(NIO.SG$ $NIO Inc(NIO.US$ $BILIBILI-W(09626.HK$ $Bilibili(BILI.US$ $Baidu(BIDU.US$ $BIDU-SW(09888.HK$ $XPeng(XPEV.US$ $Li Auto(LI.US$ $BYD COMPANY(01211.HK$ $BYD Company Limited(002594.SZ$ $S&P/ASX 200(.XJO.AU$ $FTSE Singapore Straits Time Index(.STI.SG$
$Apple(AAPL.US$ $Tesla(TSLA.US$ $Microsoft(MSFT.US$ $Amazon(AMZN.US$ $NVIDIA(NVDA.US$ $Meta Platforms(META.US$ $Alphabet-C(GOOG.US$
$Chevron(CVX.US$ $Phillips 66(PSX.US$ $Valero Energy(VLO.US$ $Devon Energy(DVN.US$ $Occidental Petroleum(OXY.US$ $W&T Offshore(WTI.US$ $United States Oil Fund LP(USO.US$ $United Sts Brent Oil Fd Lp Unit(BNO.US$ $Imperial Petroleum(IMPP.US$ $Houston American Energy(HUSA.US$ $Indonesia Energy(INDO.US$ $BP PLC(BP.US$ $Exxon Mobil(XOM.US$
$Chevron(CVX.US$ $Phillips 66(PSX.US$ $Valero Energy(VLO.US$ $Devon Energy(DVN.US$ $Occidental Petroleum(OXY.US$ $W&T Offshore(WTI.US$ $United States Oil Fund LP(USO.US$ $United Sts Brent Oil Fd Lp Unit(BNO.US$ $Imperial Petroleum(IMPP.US$ $Houston American Energy(HUSA.US$ $Indonesia Energy(INDO.US$ $BP PLC(BP.US$ $Exxon Mobil(XOM.US$
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Rivera : Finally
SpyderCall OP Rivera : I know right. A lot of people are into oil right now. everybody has been waiting. but I hope there is not more news about global slowdowns or recessions. that will hurt oil supposedly
Violets :
RIPPER : Oil futures is one of the biggest problem in this country……
Giovanni Ayala :
雷厉风行 : No wonder my$Occidental Petroleum (OXY.US)$Will continue to rise.
SpyderCall OP RIPPER : agreed. oil is the inflationary instrument
SpyderCall OP 雷厉风行 : OXY looks good so far for sure
雷厉风行 : It was carefully selected by me.
Giovanni Ayala RIPPER : Yeah because we are always going to war for it
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