VR1! trade ideas
SAOUDI ARAMCO ON BUY LONGTHE START OF NEW UP TREND
SAOUDI ARAMCO NO MORE SELLING BECAUSE THE GOLDEN BOOK OF SELLERS ARE EMPTY
INSIDE INFO.
Heating Oil Bounces Off 1.1000 Level Before Retracing LowerHeadlines
• Heating Oil Bounces Off 1.1000 Level Before Retracing Lower
• Gasoline Surges Above 0.60 Level Posting +12% Gain in Asia
• Petrobras to Cut Production & Reduce Capital Expenditures in a Bid to Off-Set Virus Impacts
• US Futures Retreat in Asia Breaking Weeks Uptrend
Oil Finished Last Week Posting Its Worst Week in Months Down -8%Headlines:
- Oil prices last week saw worst performance in months on the backs of fears from the Coronavirus
- China extending Chinese New Year holidays in order to stem the spread of the virus
- Oil finishes the week down -8.50%
- Baker Hughes sees rig count for the week past down in the US -2 rigs
HO to $2.00 in 6 monthsLooking at the wave structure, we have broken the low of the internal A wave of this corrective structure. We should see a C wave up to $2 over the coming months. Note, looking at RSI, every time it has entered this level, it has quickly reversed. On the 4H TF, there's bullish divergence too. So we should see a decent spike regardless. However, this is a long term hold for me. GL if you follow :)
