Results 1 to 4 of 4
 0 Attachment(s)    

Thread: Where is going oil price ?

  1. #1
    Senior Member fxtester's Avatar
    Join Date
    Nov 2008
    Posts
    3,165

    Default Where is going oil price ?


    Technicals :

    On the upside :

    - Double bottom on 30$ level,
    - Tries to break 50$ level.

    On the downside :

    - Too many resistances on the upside (old supports),
    - 63.50$ will be difficult to break.


    Fundamentals :

    Going up :

    - Erosion of oversupply in 2016,
    - The world economy start to recover after a flat period.

    Going down :

    - Electric cars market share multiplied by three on the last three years,
    - Solar power will expand six-fold by 2030 and may dominate the power sector,
    - Solar energy production cost will fall as much as 59% by 2025,
    - Iran introduced as a new "player",
    - the production cost is profitable again for USA : increase of reserves,
    - natural shale gas production exploses.

    Source : Solar Energy Cost Benefits: Solar Power to Grow Six Fold by 2030

    Conclusion :

    On the mid term, oil price will continue to raise. It will be at 60-70$ by the end of the year according to oil industry professionals.

    On the long term, it will fall as renewable energies will get more and more market shares in the next years. Oil will be replaced by electricity for cars, but we will still need it for plane and tankers for a certain while. When ? it is still uncertain. A new battery technology could speed up the things.
    Last edited by fxtester; 06-24-2016 at 16:20.

  2. #2
    Banned
    Join Date
    Dec 2016
    Posts
    11

    Default

    usually if i would like to get information about price movement i read analytic from liteforex

  3. #3
    Banned
    Join Date
    Dec 2016
    Posts
    139

    Default

    I am never trade on oil and only trading on pair like as eurusd, usdjpy etc, but indeed there are many trader also using oil as one instrument trading and they always having good knowledge about oil and many factor the cause price changes

  4. #4
    Banned
    Join Date
    Apr 2017
    Posts
    16

    Default

    2016 has been a worst year at oil prices, extending from the capitulation of last January where costs were below $30 per barrel, to a conflicting recovery, as a barrel of raw petroleum plunged beneath and crawled over the $50 mark, where prices have remained same toward the start of 2017.

Similar Threads

  1. Touch of the price with sma 50-100-200
    By gioe2003 in forum Ideas for expert advisors
    Replies: 0
    Last Post: 10-08-2012, 16:35
  2. ASk and BID price from 2 different brokers
    By fab4x in forum Scripts and other tools
    Replies: 0
    Last Post: 11-17-2011, 01:51
  3. Replies: 0
    Last Post: 09-14-2010, 14:14
  4. EA with price across Ashi
    By paciola in forum Ideas for expert advisors
    Replies: 0
    Last Post: 06-03-2009, 15:50

Tags for this Thread

fold, fundamental, fundamentals, level, long term, power, profitable, solar, upside

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •