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The Crude OIl Daily chart has been on a Buy signal but nearing Over Bought territory.


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#1 Mr Dev

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Posted 18 September 2023 - 02:35 AM

The Crude Oil $cl Daily Chart has been on an Oscillator Buy signal for weeks but that is nearing Over Bought territory.

Price is still below hidden resistance which is acting as a magnet at this time.

$oih $uso $xle $xop $xom $cvn #energy #brent



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#2 Rogerdodger

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Posted 18 September 2023 - 09:12 AM

Great to see you Mr Dev!

 

We would normally see some hesitation as price is now approaching last years highs.

 

Nymex crude oil prices are firmer, hit a 10-month high overnight, and trading around $91.25 a barrel.

The benchmark U.S. Treasury 10-year note yield is presently fetching 4.345%.

 

Wednesdays FED speak: "Strikes, dot plots, energy prices. How the Fed's inflation battle is getting tougher."

Most look for the FOMC to stand pat on U.S. monetary policy, but still sound a hawkish tone.

 

Kitco


Edited by Rogerdodger, 18 September 2023 - 09:27 AM.


#3 Mr Dev

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Posted 18 September 2023 - 11:11 AM

Hey there buddy. Nice to see you still here.



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Mr Dev

......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!

#4 redfoliage2

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Posted 18 September 2023 - 03:19 PM

In six months the crude price will be cut in half when US gets into a recession or Russia war ends. .................... 



#5 Rogerdodger

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Posted 18 September 2023 - 03:39 PM

In six months the crude price will be cut in half when US gets into a recession

 I hope so...I think...

 

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Edited by Rogerdodger, 18 September 2023 - 04:36 PM.