Oil selloff

Obama vs. the OIL – Part 2

On the last time at this fight, Obama won. What will happen this time?

I think that Obama will win again, and I will explain why.

The first things you need to know, is that we are in a cycle zone. To prove that, here is a weekly chart, and you can see what happens normally in the summer period, or to be more specific, pay attention to August month.

Now we are in August….

The second thing is – Elections period. One of Obama’s biggest achievements is that he reduced the oil prices despite the issues with Iran.

Now, before the elections, he will do all he can, to keep it as low as possible.

That’s the daily chart:

We can see that we have a bearish divergence on the daily chart, which means that very soon this push up will end, and we will see the oil turn around.

My opinion is that the current bullish move is fake.

Enjoy your day and good luck

Yours,

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.