2022/08/23 (061) Technical Analysis

The UKOIL Up To More As 5% Cheaper, At Start Of This Week
– But The Price Leveled Off Just As Quickly Between 90 & 100 USD…
Trend Confirmation And Or Trend Reversal Formal Might Manifest This Week?

The oil market came under increased pressure earlier in the week on concerns over slowing fuel demand in China. But that’s not what I’m assuming. This topic has been getting way too hot for me since last week. I don’t think China is driving oil prices. Rather, I believe that speculators are slowly but surely threatening to run out of air due to Russia’s war of aggression against Ukraine. To which we counted ourselves at the beginning of February. No problem. And the inflation of the western states, in our so-called West, is home-made. The financial consequences of fiscal policy during the Corona lockdown. And or else, a green energy policy, a green economic policy, is driving everyone ahead, not just green taxes. But at times also the price of oil. But what if the population actually no longer consumes as they used to with such high prices? Driving less? A recession ahead of us? And that with persistent inflation, regardless of the oil price? Right! Then even the toughest bulls give up – and the price falls.

What is conclusively logical does not have to be the case! Don’t get us wrong! In principle, I always assume that the oil price will exaggerate up/down. And I believe that this is aptly fitting around the important psychological mark of USD 100. And not only in context with the Russia/Ukraine war. But rather also because of the current negotiations with Iran about a nuclear agreement.

Most Important Price Action Areas
For This Week And/Or May Be Next Week Also

   109.02 $ (07/28/2022) 5th high after 200SMA served as support after 13 years High

107.85 $ (08/15/2022) SMA100 – Simple Moving Average (ohlc/4)

   107.64 $ (07/11/2022) 2st high after 200SMA served as support after 13 years High
  107.56 $ (07/19/2022) 3rd high after 200SMA served as support after 13 years High
   107.43 $ (07/08/2022) 1st high after 200SMA served as support after 13 years High
   107.42 $ (07/21/2022) 4th high after 200SMA served as support after 13 years High

   100.34 $ (08/12/2022) 100$ bulls/bear fight as bulls won false breakout intraday
   100.14 $ (08/11/2022) 100$ bulls/bear fight as bulls won false breakout intraday

100.00 $ (08/15/2022) Stop Price of this 4XSetUp SHORT UKOIL Trading Capability

   99.07 $ (08/15/2022) SMA200 – Simple Moving Average (ohlc/4)

   96.47 $ (08/22/2022) last price @ 23:22 CET (central european time)

   95.00 $ (08/15/2022) Entry Price of this 4XSetUp SHORT UKOIL Trading Capability

      94.55 $ (07/14/2022) 1st low under 200SMA this year 2022
       92.82 $ (08/05/2022) 2nd low under 200SMA this year 2022

   70.00 $ (08/15/2022) Target Price of this 4XSetUp SHORT UKOIL Trading Capability

A Completed Atomic Iran Deal In Vienna This Week,
Could Likely To Take The Pressure Out Of The Oilpric Action

Meanwhile, leaders of the United States, Britain, France and Germany have stepped upefforts to revive the 2015 Iran nuclear deal, the White House said on Sunday. And that just before the midterm elections. One thing cannot be denied to Sleepy Joe. That he consistently turns the policy of his predecessor Trump upside down. Wrong! I still remember Barack Obama, who made another deal with Iran before he left. Which finally led to my supporting the US Republicans at the time. Above all, Donald J. Trump. It actually made it, not only because the USA produced an energy surplus for the first time in 40 years, and exported oil abroad again. No, he also organized a political peace treaty with Israel, which the Iranian government has said it wants erased from the map. With Israel and the UAE and or also Bahrain.

However, oil prices recently fell to a six-month low. North Sea Brent has fallen almost 40 percent since its all-time high of $147 a barrel last March. Experts explained the fall in prices with economic fears on the markets. “On the one hand, fears of recession in the industrialized countries have been joined by considerable concerns about China’s economy. On the other hand, a renewal of the nuclear agreement with Iran and the associated lifting of sanctions has probably never been so close,” said Commerzbank’s commodity analysts. Speaking to Reuters news agency last week, the new Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham al-Ghais, said: “There is a lot of speculation and fear in the markets and that is what is mainly driving the price decline.” In the physical market, on the other hand, we see things very differently. Demand is still robust,” said the OPEC Secretary General, who has been in office since August. The resurgent demand for travel and the associated greater need for fuel make him “relatively optimistic” for the coming year. I assume so. But the oil price will rise I still don’t go out. And if it does, then the oil price will develop, for the time being simply without us, my readers. I assume that the oil price will continue to fall – with a stop price at USD 100 at the latest.