2022/03/29 (023) Technical Analysis – UKOIL

The Ukraine War Is Far From Over,
But It Seems To Be Going In The Right Direction.
Oil Market Price Action Slips On Ukraine Peace Talks


Unfortunately, the Ukraine war is far from over – even if the stock markets are hoping or even pricing it in. In fact, the actually sensitive points were not clarified at all: what about Donbas and Crimea? Russia appears to be abandoning the siege of Kiev – but Western observers see it as a tactic. Either way, even if there were a ceasefire, sanctions against Russia over the Ukraine war would not be lifted. Now the crucial question is at hand: will Russia insist that “unfriendly” countries pay for Russian gas in rubles? And will the West refuse to do just that? Actually, everything indicates that there will be no agreement here – and then the experiment begins: “From now on we live without Russian gas”..Our Trading Capability Thus Took Off Faster Than Excepted

On Tuesday, the 15th February, in the 3rd Edition, of our DEVISE 2 DAY Affiliate Financial Market Online Newsletter, i formulated a trading capability in the UKOIL – incl. with an entry price (93 USD), target price (130 USD) and or stop price (84 USD). In this case, UKOIL reached our target price. Everything i wrote was and or everything i`m still writing is no an investment recommendations. But, in the truest sense of the word, a trading capability for self-deciders. All my readers decide for themselves whether to trade something or not – regardless of my opinion. Because my DEVISE 2 DAY Affiliate Financial Market Online Newsletter is 100% commercially with 100% the best of my knowledge and beliefs. I always encouraging you to get better informed – to stay even 100% informative. So that you can better decide for yourself (not) act – buy/sell whatever you want.

Oil Prices Continue To Fall Sharply – Signs Of Relaxation In The Ukraine War

On Tuesday, oil prices continued the massive slump of the previous day and continued to fall sharply. After there had been a temporary countermovement on the oil market with slight price gains in European midday trading, signs of easing in the Ukraine war then caused renewed strong selling pressure on the oil market. Most recently, a barrel (159 liters) of North Sea Brent cost $109.19. That was $3.29 less than the day before. The price of a barrel of West Texas Intermediate (WTI) fell $3.30 to $102.66. At times, the WTI price slipped below the $100 mark after falling by around eight percent at the start of the week.

After new peace talks with Ukraine, Russia has pledged to significantly reduce its combat operations on the northern front near Kyiv. Deputy Defense Minister Alexander Fomin said after the meeting in Istanbul on Tuesday that his government wanted to build trust and enable further negotiations. Moscow’s head of delegation, Vladimir Medinsky, praised the talks, which lasted several hours, as constructive. At the start of the week, oil prices were still weighed down by concerns that the renewed outbreak of the corona virus in China could dampen global demand for oil. The biggest lockdown in the country since the beginning of the pandemic came into effect in Shanghai. Extensive curfews apply in the east and south of the port metropolis with a population of 26 million. “The Chinese zero-Covid policy is, albeit involuntarily, relaxing the oil market to a certain extent,” commented commodities expert Carsten Fritsch from Commerzbank on trading. However, he also pointed out that the situation on the oil market was still tense due to the supply failures from Russia.

Use The Psychologically Important Price Action Area At 100 USD As A Trading Capability

Even though I formulated our current possibility at $112. I think it’s more profitable for traders and investors to go long than short. For now, I’m basically neutral on prices below $100. Because I then assume that the Urkaine conflict has been priced out for the time being. Although no financial market happened shortly before the outbreak of war, in February. So that we can assume, if we want to, that the rising oil price is mainly due to the fiscal policy of the left-liberal states in our so-called West. And on your verbal-political green agenda, which sends us taxpayers and consumers back to a green Soviet Union, green Yugoslavia, and or green GDR. In other words, in an (un)intentionally state-organized shortage economy. That`s why basicly above 100 USD rather long as neutral or short. And rather neutral under 100 USD…

Brent Crude Slides Under 105 USD

Brent crude futures dropped 6% to as low as $104.98 per barrel on Tuesday, before paring losses to around $109 after the Russian Deputy Defense Minister said after bilateral talks in Istanbul that the country has decided to cut military activity near Ukraine’s Kyiv and Chernihiv. Also, the expectations of lower demand weighted after reports showed Shanghai lockdown could reduce oil demand by as much as 200,000 bpd. Meanwhile, major oil producers will meet to discuss their supply policy for May and the group has signaled it will stick to its existing plan and ratify an increase of 430,000 bpd in output.100 USD not only useful
as a stop mark for conservatives
– much more as a short-term entry point
for speculatives in the case of ongoing war

Regardless of that, more or less USD 106, USD 114, and/or USD 124 are important support levels for bulls and resistance levels for bears.

In order to preserve the upward trend above USD 100 in the medium term, bulls need prices above USD 120! Why? Because at price actions above USD 120, the gap from the last candlestick to the previous high is closed in retrospect. And then even a medium-term W trend reversal formation could form. Which could then even generate a long-term buy signal at new high price actions.

Let’s hope not as consumers at the gas station! And stay self-determined voluntarily, with prices above 100 USD, just long – in this trading capability. And then also independently of my opinion, independently of my comment, and or but also independently of my technical analysis.