The oil issue ... - page 30
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They must really have nowhere to put their money if they are investing in such production facilities and keeping them running.
In short - a lot of money is bad too.
I can't imagine if one does technical analysis on oil - how one suffers: the last support level was 28.78 (or about 29), and today the price opened probably already below it ... and below 29 there are no normal levels (no bottom), there are only 'psychological' levels like 25 or 20 or 15 ...
I can't imagine if one does technical analysis on oil - how one suffers: the last support level was 28.78 (or about 29), and today the price opened probably already below it ... And below 29 there are no normal levels (no bottom), there are only 'psychological' levels like 25 or 20 or 15 ...
And the ruble too ... When I wrote this post - it was 78.75, when I push the 'Add' / publish - it was 79.05, I do not envy those who do technical analysis for the Ruble there, by muwings - nothing (no resistance level), by Ichimoku - there is no level on the way up, only pivot (first resistance level of the annual pivot - 81.68). What they will tell us on TV - it is not clear (while they start to tell - the ruble has already broken through the R1 Yearly Pivot value of 81.68, and the next level is not even visible to me).
If only we could make a chart with USDRUB and crude oil together - and see how they move together (and since when they started to move that way).
In fact, oil has really started to fall since July 2014 - a downward breakdown:
If by muwings - also July 14, but only the beginning of the month.
And with the rouble it all started very smoothly (if you look at Ichimoku) - spring-summer 2013.
Or the Polish zloty - its decline was also reversed in the spring and summer of 2013 (just like the rouble), but really took off in the summer of 2014 (just like the rouble):
And there is no oil in Poland ...
They will soon break through the 4.11 resistance level - and then it will be like the rouble (a 'no-bottom' fall).
The usual economic war, like the Cold War, the one who has more money and technology will survive, the rest are on the brink of a foul - either they will invent something or go back to the Stone Age... Take Cuba - it survived for 50 years and had nothing - America lost...
It is the same with the Turkish lira - it really started to fall in the spring and summer of 2013 and then in the summer of 2014. The price only needs to break through the resistance level at 3.07 and then it will be 'rocketing up' as well.
And oil is not there either.
Maybe America is winning? No, everyone is in the negative there too.
The S&P 500 is in a primary downtrend, even on the weekly chart, and the reversal level to an uptrend is 2120 (and now 1903 - i.e. - a steady almost long-term downtrend):