Pullbacks are buying opportunities
Fundamentals:
Bullish:
OPEC + solid cuts – Latest Announcement from Russia: “We won’t fight with US oil producers”. That means: They will not let the prices go down to stop US drilling activities.
Venezuela Turmoil
Optimism in US-China Trade Talks.
Now we have a new bullish factor: Weakening USD. Simply saying: Historically, weak dollar sends the oil prices higher. Below is the DXY vs WTI correlation chart.
Bearish:
Global Growth Concerns
8M Barrels increase in stocks
Have a nice trading week!
Fundamentals:
Bullish:
OPEC + solid cuts – Latest Announcement from Russia: “We won’t fight with US oil producers”. That means: They will not let the prices go down to stop US drilling activities.
Venezuela Turmoil
Optimism in US-China Trade Talks.
Now we have a new bullish factor: Weakening USD. Simply saying: Historically, weak dollar sends the oil prices higher. Below is the DXY vs WTI correlation chart.
Bearish:
Global Growth Concerns
8M Barrels increase in stocks
Have a nice trading week!
Discord Channel : discord.gg/Ku9kzfq
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Discord Channel : discord.gg/Ku9kzfq
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.