Many Reasons to Buy Disney Stock
People all over the world love kind and colorful Disney cartoons. What if we say that you can both adore the pictures and trade stocks of the company that creates them?
OIL: a detailed short-term outlook
2020-06-25 • Updated
On Wednesday, when the WTI oil price stopped at $40 we advised that it would go further down to the area of $37.5. Eventually, it happened exactly as foreseen – the price is currently at $37.5 although we did not expect it to go down as fast as it did. Now, it makes sense to a closer technical look to it to properly prepare for possible outcomes.
In the midterm, we see that the pace of recovery that WTI was at during May got slower. Since the beginning of June, the price is barely climbing upwards – that is visible with the Moving Averages as well. Trading way above the 50-MA in May, oil more frequently goes downwards to the area where 50-MA and 100-MA overlap – currently at 38.0. It doesn’t suggest a fundamental trend change, though, – just the fact that it will definitely take longer to get from $40 to $50 than what it took to get from $30 to $40.
In the short term, we see that the recently left pear above $40 makes a tip of a pyramid-like formation based somewhere at $36. Why exactly $36? On June 19 and 22, the price dropped to this level. Although that was really short-term and did stop it from going upwards eventually, plunges like this don’t happen for no reason. Downside definitely has heavy gravity, and WTI price will be under its influence at least until the second-wave virus fears are gone. Therefore, we are expecting the red-marked area to be an expected zone of movement for the oil price in the short-term – that is, at and below $38.
Similar
Inovio to Plunge Ahead of Earnings Report
About the company Inovio Pharmaceuticals Inc (INO) is a biotechnology company that focuses on developing DNA immunotherapies and vaccines to treat and prevent various cancers and infectious diseases…
Earnings Season Forecast is Surprising
The second earnings season of 2022 has almost begun. From banks and tech stocks to cars and the retail sector: in this outlook, we covered the most promising releases of this summer and made several projections on the companies’ prospects.
Latest news
The CAD vs. the World: Mid-Term Scenarios for the Currency
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
Fed Keeps Pushing USD to 2000s Highs
The US dollar index has all chances of reaching the 2000s high of 120.00.
Canadian CPI, Top-down Analysis and Trade Ideas
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
