$UKOIL - Multi-timeframe review
Hi guys! 👋🏻
🔔 Saudi Arabia refused to increase oil production requested by President Biden. However the strong US Dollar and uncertainties in Chinese economy hold Crude oil prices from a stronger hike. Market will be watching the relaunch of Nord Stream 1 this Thursday which will have a massive impact on DXY, energy sector commodities.
🔔 As for the technical analysis, implementing the Elliott Wave theory, we might consider that oil is on its way to display newer highs.
🔔 See charts below
🔔 Fibonacci 0.618 level of last weeks correction
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
🔔 Saudi Arabia refused to increase oil production requested by President Biden. However the strong US Dollar and uncertainties in Chinese economy hold Crude oil prices from a stronger hike. Market will be watching the relaunch of Nord Stream 1 this Thursday which will have a massive impact on DXY, energy sector commodities.
🔔 As for the technical analysis, implementing the Elliott Wave theory, we might consider that oil is on its way to display newer highs.
🔔 See charts below
🔔 Fibonacci 0.618 level of last weeks correction
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
Nothing is true, everything is permitted.
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