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Friday, 20 April 2018
FTSE ST Oil & Gas Index: 20 April 2018, Friday, 3.08pm Singapore Time
FTSE ST Oil & Gas Index:
20 April 2018, Friday, 3.08pm Singapore Time
(Click on Technical Chart above to Enlarge)
Attached above is the Technicals for FTSE ST Oil & Gas Index with focus on the volume flow. The 2 green rectangular regions were my live fore-warnings back in 2016 preempting that crude oil will readily double from $30 a barrel -- the regions where the herd majority were concurrently shouting for $10 or $20 per barrel of crude oil. Thereafter, crude oil markets got supported and buoyed up using the exponented moving average band as supports, something that I had forewarned back in 2016 to happen as well. These price actions in the crude oil market have successfully been enacted. In the recent move, there were secret high volume buys without moving prices much. This means a large majority of the herd sold away their crude oil stocks. They will be too shameful to buy back at higher prices. This means market has a lot of energy to rocket up to the sky for the energy sector.