Dear Members,
Here we are putting a small part from oil sections from today’s Flashnews. Oil accuracy has been amazing for 27 years as the Astro cycle helped us to call every move in the energy market.
As mentioned yesterday that oil losing value on Tuesday is bad news for oil, heating oil, and RB Gas, and it was proven right as Wednesday oil prices lost big value. Oil teched $65.70 on the lower side and closed above the $68.00 level. Gas also lost value and tested the $2.41 Astro support level.
On Thursday some stability will come in the energy market, but a swing in oil will be on both sides. We are recommending trading in and out in oil but taking a long in natural gas as gas will outperform oil from here onward. Overall Thursday is astro support day for oil.
This is what we mentioned yesterday: Oil losing value on Tuesday is bad news for energy traders, and if oil closes negative on Wednesday or below the $70.71 level then we may see huge corrections in the coming time which may push oil toward the $63.87 or even $57.88 level. Our advice of staying away from oil remains the best advice of last one year. Overall last 27 years we have been able to predict every move in the oil market with great accuracy.
Natural gas acted mix, stay long in gas, and buys more around the lower sides. Stay long in BOIL.
Overall, our view is bearish for oil; we have been recommending selling oil at $128.00 in March 2022, and we are still holding that short recommendation. Cover 100% at $70.71, but the lower side targets of $63.78 to $57.00 are still possible in 2023.
· The short-term Astro support will be $70.11, and the Astro resistance levels are at $81.88, which looks difficult at this stage for the rest of 2023.
· Natural Gas will have major Astro support at $2.41 and major Astro resistance at $3.61.
Thursday’s Astro combination recommendations for Oil – On Wednesday oil lost big value as expected. On Thursday mixed trend is expected, adding more long positions in the natural gas. Gas won’t remain below $2.41.
Thursday’s trading range (Continued future 2023 contracts):
OIL: 69.91 to $65.87
NATURAL GAS: $2.53 to $2.35
HEATING OIL: $2.6705 TO 2.5553
RB GAS: $2.5455 TO $2.3907
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Thanks & God Bless
Mahendra Sharma