In France we don't have Oil, but

James D.Touati alias "The Wolf of Zurich" proposes you a new approach for users and members, with new posting styles, short formats, graphs, languages and publication frequency.

“In France we don’t have oil, but we have ideas! »

Everyone remembers,... well the "young old people" of my generation... of this famous sentence in an advertisement in 1976, in reference to Valéry Giscard d'Estaing who introduced summer time in order to save money. energies in France. Method now contested.

The macroeconomic aspect and its tensions in recent months.

On the rise:
The war in Ukraine with Russia

You already know all the details via the daily news channels.

Taiwan-China tensions

China is eyeing their semiconductors.

OPEC

Production drop.
China, India, Latin America, the Middle East are countries which are increasingly in demand for refined products (gasoline, diesel, etc.).

Panama Canal

Everyone knows the two most famous canals in the world: the Suez Canal fed by the sea, and the Panama Canal fed by two artificial lakes. It is therefore important to remember that since August Panama has suffered an unprecedented drought which has caused the water level of the two lakes to drop. This event produced a huge traffic jam of ships and cargoes of raw materials, causing a slowdown in the activity of the Panama Canal, which represents 5% of global maritime traffic. Today, it takes 3 weeks to cross the canal. According to expert estimates, the canal will operate slowly for a year due to this climatic phenomenon. Finally, imagine the impact on consumers around the world, like you and me.

War between Israel and Hamas

Iran could get involved which would “set the powder kegs on fire”

On the decline :
USA-Venezuela

American oil stocks are falling; This is why they have approached Venezuela, which is one of the countries with the largest oil stocks in the world, and a deal is reportedly on the verge of being concluded. But Venezuela will not necessarily cut its prices because its relations with Russia are stronger than those with the United States. So no excitement.
So you will see that the number of reasons for oil to rise is greater than for WTI crude oil to fall. But that's simply the macroeconomic and geopolitical part.

The technical aspect and the reasons for this title of The WOOZ:

Now from a technical point of view, the Wolf of Zurich who is "by the way" French (sorry Nobody is perfect) will therefore share with you his estimates of potential targets on the rise and fall, as well as his "vision" in the short term. term and medium term on Oil.

WTI Crude Oil chart – Source: Tradingview.com – James D. Touati analysis – SAMT-ORG.ch

A bearish CRAB harmonic pattern was detected by The WOOZ 

The 50 and 200 Daily Exponential Moving Averages (EMA.50 and EMA.200) are potential short-term targets.

According to the Bollinger and Ichimoku indicators

the price could reach the following levels:

Bollinger Bands: Upward: $95 = Double top which would correspond to the daily candle of September 28th, 2023. Downward: $81.45

Ichimoku: Downward: 86.41 then $79.30

CHARTS NEVER LIE ! 

PAKA PAKA

For more information, you can contact me on the following networks:

LinkedIn: http://linkedin.com/in/james-d-touati-941a8ba6

Tradingview: https://fr.tradingview.com/u/james-samt/ 

Le Loup de Zurich.