The Incoming Recession and $OIL
NSE:OIL dropped significantly in 2008 and 2020 covid crash (even went negative for a short period).
Now NSE:OIL has formed a head and shoulders looking to move towards the neckline to confirm the right shoulder indicating to me lower prices for oil are coming.
NSE:OIL is down 5% today alone despite the news of Saudi Arabia reducing production to prop global oil prices up.
Having access to a cheap reliable abundant energy source is the bedrock of any strong economy in 21st century.
The deflation wave has begun created by the FED Quantitative Tightening Monetary Policies.
Now NSE:OIL has formed a head and shoulders looking to move towards the neckline to confirm the right shoulder indicating to me lower prices for oil are coming.
NSE:OIL is down 5% today alone despite the news of Saudi Arabia reducing production to prop global oil prices up.
Having access to a cheap reliable abundant energy source is the bedrock of any strong economy in 21st century.
The deflation wave has begun created by the FED Quantitative Tightening Monetary Policies.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.