Investing
Haven
No Result
View All Result
Saturday, January 23, 2021
  • Login
  • Premium Services & Login
  • 2021 Forecasts
  • Commodities & Gold
  • Stocks
  • Crypto
  • Mission 2026
Crypto investing >>
Investing
Haven
  • Premium Services & Login
  • 2021 Forecasts
  • Commodities & Gold
  • Stocks
  • Crypto
  • Mission 2026
No Result
View All Result
Investing Haven
No Result
View All Result
Home Trendwatching

Is This The Time To Buy Crude Oil And The Energy Market?

by Taki Tsaklanos
December 06, 2016
in Trendwatching
0
Tags: HALUSOWTIC
2k
VIEWS
Share on FacebookShare on Twitter

Crude oil is very volatile in recent weeks. Weekly movements of more than 10 pct are the norm nowadays. It is very easy to get excited as prices are moving 5 pct higher. But is now the time to buy crude oil or energy stocks?

First, let’s look at the crude oil price. Crude’s weekly chart gives us the sharpest view, see first chart.

Crude is clearly bumping into heavy resistance. The $50 area is not only double the price from crude’s lowest point this year, it also coincides with an area which has capped crude’s prices from moving higher in recent years.

The most interesting observation on this chart is how crude is building a base right below that strong resistance area. We have not seen that before. It does not guarantee that crude will break through this area, but it suggests the market is succeeding in such an attempt.

Watch crude oil at this price point: if crude goes higher from here, we see an easy ride to $60, and ultimately, to $75. The latter is not given, it is only a best case target.

buy crude oil or not

In case crude oil breaks through this important $50 area, we expect energy shares to start rallying. In such a scenario Halliburton (symbol HAL), one of our favorite energy stocks, has quite some upside potential. We see an easy ride to its all-time highs at $70, a 30 pct rise from today’s price point.

Uncoincidentally, HAL has arrived a resistance, similar to crude oil. Watch whether both crude is able to rally above $50 and HAL above $55 for a confirmed breakout, and an easy 20 pct profit.

halliburton - favorite energy stock

  premium service trade alerts   premium service trade alerts   premium service crypto teaser  
Taki Tsaklanos

Taki Tsaklanos

Taki has +15 years of experience in global markets. His methodology is unique and effective, yet easy to understand; it is based on chart analysis combined with intermarket / fundamental / sentiment analysis. His work appeared on major financial outlets like FinancialSense, MarketWatch, ... Email: taki.tsaklanos@gmail.com. Twitter: twitter.com/investinghaven

  • Trending
  • Comments
  • Latest
silver prices

A Silver Price Forecast For 2021 *Silver 30 USD Underway*

January 2, 2021
gold price

A Gold Price Forecast For 2021 *Gold 2200 USD Underway*

January 2, 2021
dow jones

Dow Jones Long Term Chart on 20 Years *10 Must See Charts*

October 26, 2020
dow jones

A Dow Jones Forecast For 2021 *New All Time Highs*

January 2, 2021
bulls bears

S&P 500: Is This A Medium Term Topping Pattern?

0

Protected: [Emerging Markets/Gold/Silver] Heads up Template

0

Protected: [SPY] Heads up Template

0

Protected: [GOLD] Buy Alert Template

0
bulls bears

S&P 500: Is This A Medium Term Topping Pattern?

January 17, 2021
bitcoin

Bitcoin: Major Top Already Hit Or Parabolic Move Underway?

January 17, 2021
risk

Global Stock Leading Indicator: A Not So Promising Setup For February of 2021

January 17, 2021
us dollar

Dollar Ready To Create Havoc With Markets?

January 17, 2021

Connect with InvestingHaven

Receive top notch forecasts for free.

*We hate spam as you do.

Categories

  • Premium Services & Login
  • 2021 Forecasts
  • Commodities & Gold
  • Stocks
  • Crypto
  • Mission 2026

Site Navigation

  • RSS Feed
  • About us
  • Sitemap
  • Privacy & Disclaimer
  • Terms of Service
  • Contact Us
Investing
Haven

Top notch forecasting with gold price forecast, many stock predictions, cryptocurrency charts. Many investing tips and crypto market analysis.

Copyright © 2021 Investing Haven

No Result
View All Result
  • Premium Services & Login
  • Premium Investing Service
  • Premium Trading Service
  • Premium Crypto Service
  • 2021 Forecasts
  • Markets & Stocks
  • Commodities & Gold
  • Crypto Markets
  • Mission 2026

Copyright © 2021 Investing Haven

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In