Saudi Arabia Oil Company Aramco stock forecast is the future of oil in the world. Saudi Aramco, officially the Saudi Arabian Oil Company or simply Aramco, is a Saudi Arabian public petroleum and natural gas company based in Dhahran. It is one of the largest companies in the world by revenue, rivalling Apple Inc. in the United States.
Saudi Aramco is the world’s largest oil producer and the world’s most profitable company. The Saudi government owns the company.
The stock analysis and forecast for Saudi Arabia Oil Company Aramco #2222 trading in the Tadawul exchange is bullish after a strong sell-off that happened throughout 2022. The stock has reached a strong demand imbalance at 32. The oil and gas company could stall for a while or even drop and penetrate the imbalance further. The long-term bias is bullish, regardless of what is happening in Europe during Ukraine’s war. Saudi Arabia’s oil production is, together with the United States, the biggest one in the world.
As supply and demand traders, we do not need to pay attention to fundamental analysis. Unless you are doing very short-term trading and scalping, you should not worry about fundamentals for stocks and ETFs.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
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