In ‘Analysis of the Week’ from StockCharts365. com we take a closer look at the oil price!

In the ‘Analysis of the Week’ from StockCharts365.com, we have taken a closer look at the oil price, which could be facing a sharp downturn according to the technical picture that Brent Spot is currently showing. The oil price has established a very large head and shoulders formation over the past three years, and is now about to trigger a very strong technical sell signal if it now breaks down below USD 75.00 and then below USD 70.00.

Read on below.
But first, a little from Vikingen Investment School!

Vikingen Investment School holdings week 27-31

The fact that the stock market went down this summer is hardly news.
Today, however, most of our holdings are up again.
But we choose to sell and keep as below.
Next week there will be some more in-depth analysis and new investments ahead.

Several stocks on our list have broken through their support and are now on an upward rebound.
Unfortunately, they won’t generate much profit in the near future.
So we will sell Bank Nordik, Per Aarsleff and Svitzer Group.
We should have sold NVIDIA when it broke through its support at $112-115.
Now the stock has fallen to new support, almost 50% from the top.
We will keep NVIDIA until next week.

It was the investment school of the week. Feel free to give us feedback and follow us on FB and/or Linkedin.
Vi ser frem til å høre fra deg!

What is Vikingen Investment School?

Vikingen Investment School started May 13th 2024.
We have chosen to invest SEK 10,000:- and hope that you will join us to learn how to get rich(er) by investing at the stock market.
Our ambition is that you will want to join us on our journey from beginner to experienced investor.
If you have more than SEK 10,000 to invest, it’s of course even more interesting, but the principles are the same.
Since June 10th, we’re adding even more value to the blog by publishing “Analysis of the week” by StockCharts365. com.

Vikingen shows the way!

Through Vikingen Financial Software and our mentor Peter Östevik, we select the shares/other investment objects that are most worth buying here and now.

A strong technical sell signal could be triggered on oil

If Crude Oil breaks below USD 70.00 in the coming weeks and months, a very strong technical sell signal will be triggered.
A further decline for Brent Spot to around USD 40.00 – 50.00 will then be signaled, and this in accordance with the sell signal that will then be triggered from this large head and shoulders formation that has been established for Brent Spot over the past three years.

The overall technical picture for the oil price (here Brent Spot) indicates that there may be a sharp fall in the oil price going forward.

The stock markets are plunging these days, and amid fears that the US and other countries will go into recession – and since all things are connected in the world economy, the price of oil could fall sharply in the near future.
The only thing that is absolutely certain is that it will be very exciting to follow both stock markets, oil prices and currencies etc. in the near future.