Usa is on a shutdown and it has impacted hugely on the stock market the market volatility is huge
Crude Oil price went from $65 a barrel to $60 a barrel in just 1 week
This Friday is non farm payrolls
The crude oil market should be bullish and by end of the week reach $65 a barrel
On the downside if market is bearish the crude Oil price can slump towards $57 a barrel
These are my analysis per weekly chart
Today is the end of the week, this week the trading volatility was there the crude oil price has reached $65 by the end as my analyses this week was predicting.
Today Core Price Index and Crude Oil Rig Count data released, if everything is bullish data for crude oil my technical analyses suggest crude oil price should close by over $65 probably $66.50 up to $68 a barrel.
On the downside if data is bearish for crude oil this should slump below $65 probably $63.80 or even $62.40 per barrel.
Next Friday there is payrolls data which will cause huge impact on dollar and crude oil, lets wait till next week and focus on today.
Yesterday crude oil price nearly reached $65 a barrel due to current fundamentals of current economy. Gaza war and Ukraine war are causing a big impact on crude oil.
Yesterday the crude oil inventories were negative and this cause a huge gain on crude oil. Plus the current economy fundamentals of Palestine being recognized as a state is causing lots volatility to the crude oil market.
Today there will be Job market data released and I believe that this will cause a huge gain on crude oil. My technical analyses suggest crude oil should go toward $68 and by the end of the month crude should settle at $70+ per barrel, however this will depend on next Friday Payrolls.
The downside of today job market data release would be very bearish and crude oil could slump towards $63 a barrel and if the payroll data next Friday is also negative the crude oil is heading towards $59 a barrel.
These any my technical analyses of crude oil today, next week and end of the month.
Yesterday president Donald Trump on UN speech boosted the crude oil price. Current fundamentals of Gaza war and Palestine state recognition plus the Ukraine war against Russia the crude oil price lowered drastically.
However if today crude oil inventory report is negative the crude oil price should shoot up towards $68 a barrel. The first hurdle is towards $65 next $68 and finally $70 those I my personal findings or should I say my technical analyses.
On the order hand if the crude oil inventory is positive the crude oil price could slump towards $63 or below towards $61 and finally $59
However I tend to believe that the crude oil price by the end of this month should go towards $70 or there about.
The Gaza and Ukraine war has been there for a long time and now its time to recover from the loss, this is what I believe in the current economy data.
Many G7 countries are recognizing Palestine as an Israel state, this should impact the crude Oil price drastically. As you know the crude oil price has been very low below $65 a barrel. We still have a war in Ukraine that has been for a long time.
I believe that Gaza war should calm down if Israel do not retaliate with UK, France and USA comments for recognizing Palestine as a state of Israel.
After Trumps speech today the oil price should be bullish and can go up as $70 per barrel by end of this month. That is why I think about the current fundamentals for crude Oil.
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There are loads of forex spread betting brokers in the market, below is a list of a few:
There is a good website with loads of reviews of each forex spread betting broker: https://www.investing.com/brokers/forex-brokers
Choose your broker and start investing in the forex spread betting market. Note: majority of people will lose money, only afford to invest what you can afford.
Start with a small size and a large margin, for instance: start doing forex on eur/usd in a smallest size with a larger margin with a guaranteed stop.
Size of your investment simple means how much you will lose or gain per point that will fluctuate. Margin is till which point you can afford to keep the position open till it is automatically closed with a loss. You can always edit the margin by depositing more money in your account.
A guaranteed stop will ensure that you will never lose more money when there is a high volatility in the market.
Keep in mind forex is a low volatility market, indices are medium volatile market while cryptocurrency is a high volatile market. Start with forex first and if you find comfortable doing spread betting feel free to invest in other commodities such as metal, oil, gold, silver, etc.
Remember what drives the market is the fundamentals or should I say that economy calendar. Keep checking for breaking news this is where the highest volatility of the market rises.
Technical analyses will help you to predict near term future of the market. Note: most people lose money when the volatility of the market is very high (fundamentals).
Technical analyses simple means watching and studying the graph, the pattern of the graph, where the graph is heading ahead. And there are time frames that you can check.
For example, let’s say in a 5 minutes time frame the candle stick gone up, in the next 5 minutes time frame where does the candle stick go? Will it go further up, same level or down? If in the next 5-minute time frame the candle stick goes up, it means that in that time frame the market is heading in an uptrend or bullish signal. Same for the downtrend or bearish signal.
Now that does not mean that it is a bullish signal for the whole day, for instance the time frame of 15 minutes chart could suggest a different story. It is very much possible that the 5-minute time frame the candle stick suggest a bullish trend, but in the 15-minute chart it could suggest a downtrend.
Same applies to a daily chart. A daily chart is where you can calculate the Fibonacci and find where exactly the market trends is heading. Or should I say where the volatility of the market will be for the following day.
My point is that keep checking the 5 minute, 15 minute and daily charts when it comes to technical analyses. These 3 candle sticks are the most commonly used. But you can also check the 4-hour chart and so forth.
Technical analyses only predict the short-term future of the market, the longer term comes with Fundamentals. This is what decides where the volatility of the market will be. The further ups and downs of the market trend. And that is the economic calendar.
Combining both technical analyses and fundamentals you will become a Forex trader.
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Learn how to trade on Forex, oil market and stock market. Education blog post on how to trader. Trader sentiment and daily/weekly news on Forex, oil market and stock market. Including trader Fibonacci calculations. Learn how to profit on Forex, oil market and stock market. Risk Management and best options to trade.
Smit Chacha is an Android App Developer, Web Developer, Blogger, Author and Writer
Generally speaking technical analysis is a formula to calculate short term market prediction. Where the market trend is heading. The formula that most traders use of Fibonacci. Measure the graph from bottom to top for each recent market trend.
Fundamentals is where the volatility becomes in, all the breaking news and microeconomics calendar. In later chapters I will tell which significant monthly and weekly calendar days you must be aware of. For instance every Friday on first month nonfarm payroll report data is published and market volatility is very high for EUR/USD. There are many others I will tackle those in later chapters with examples.
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