Oil has been in a sideways trend for several months and doesn't know where to go next.
Is anyone focusing on commodities here?
Oil has been in a sideways trend for several months and doesn't know where to go next.
Is anyone focusing on commodities here?
One of the fastest growing investor communities in Europe
Comprehensive data and information on thousands of stocks from around the world
Current information from global markets and individual companies
Education and exchange of investment experience among investors
Fair prices, portfolio tracker, stock screener and other tools
All data provided on Bulios is provided for informational purposes only, and is not intended for trading or investing purposes. Find out more
© Bulios 2024
I don't focus much on commodities, I just look at the gold price from time to time.
I follow, but more so casually, I don't have any oil companies or companies that are heavily influenced by commodity prices.
It doesn't matter, we're on the same page.
I'm watching it, too. I try the trade on it sometimes and learn. In the past just on oil so far I have been profitable in the trader, I don't know why. 😂 As you say, nice chart that goes sideways. So far it's holding and support hasn't been broken although I thought it would be at one point. I tend to wait for areas around that support and then go long when I see it bounce. I take tiny scalps. US oil inventories are supposedly good, anyway I'm also curious to see more news from OPEC. I do think it could go up to resistance for a while now so it's still spanking. For the trade, but I'm a beginner, I think this is a good one if there's a range in which to hold it and then you can follow the cycle.
Yeah, it's a nice place to be. You picked a good chart👍It's a very volatile commodity though and sometimes news is very pivotal to subsequent developments.
I agree, thank you. So far I'm really only going short scalps, but I'm looking forward to making a profit even in the tens of $. There's a lot of volatility here, certainly OPEC is a major one.
Never 🤷♂️
I've been following it too, but to be honest, just out of curiosity. I'm hesitant to see if there's a no-brainer opportunity... ETF or something similar?
You can buy at the bottom and sell at the top. That's how it works in a side trend.
And in what case could a breakout take place?
Yeah, I'm watching. It's affecting the macro, and by and large the companies I have in my portfolio
Great. So how do you see it now? Does the next OPEC decision matter?