Oil Broke Out – How To Trade It And Using What?

31st May, 2022, 4:46 PM

Oil Broke Out – How To Trade It And Using What?

Oil has broke out after a long consolidation and it might head up to test the $130 level. It might not be heading up in a straight line with a re-test of the break out point of $118. With china opening up and usd weakening, these are some of the reason for oil to continue to march up. Now if you think that oil will be heading up in the next few weeks and even breaking above $130. What are some of the instruments you can be using to express this interest?

The most straight forward would probably be going long on the Oil cfd provided by poems as shown in the chart above. This would involve leverage and can be dangerous if not used properly. So do get yourself educated if you want to use cfd to express your interest in oil.

Another way would be to trade companies with oil exposure. A more indirect way. companies like REX and RH Petrol listed in Singapore. Or Petrol China (0857.HK) in Hong Kong. Halilburton (HAL), Exxon Mobil (XOM) are just some companies listed in the US exposed to oil.

So these are some ways to get your hands oily! =)

Yours

Humbly

Kelwin& Roy

Rex Intl – [ Strong Resistance at $0.21, Will It Clear Soon? ]

19th February, 2020, 6:57 PM

Rex Intl – [ Strong Resistance at $0.21, Will It Clear Soon? ]Rex Intl 19th Feb 2020

Chart Source: Poemsview 19th Feb 2020

Rex intl just released some piece of news recently that their subsidiary achieves successful oil flow from Yumna 1 well in Oman. More can be read here.

After the news Rex saw a gap up to 0.189 and pushed up to 0.21. It is now at a strong resistance and testing it twice. It had previously tested the 0.21 five times and was unable to break. For this round, we’re quietly optimistic about a breakout and are looking for targets of 0.23 and 0.25. Some possible scenarios we’re looking at.

  1. Breakout of 0.21 and continue its move to 0.23 and 0.25
  2. Breakout of 0.21 and retest of 0.21 before moving up again
  3. Fail to break 0.21 and start retracing before another attempt.

We’re watching Rex closely.

Drop us a message if you like to know more about Rex.

Yours

Humbly

Kelwin&Roy