The support and resistance levels are pivot bands and adaptive. Updates will be made about the idea.
Comment:
You can use supports for profit realization and resistances for stoploss as your leverage and risk .
Comment:
Oil futures traded in New York fell 1.5 percent after a 2.3 percent drop on Tuesday. According to sources, Saudi Aramco's production capacity currently exceeds 11 million barrels and is one week ahead of the schedule. Sources said that the Abqaiq processing plant is 4.92 million barrels per day and Khurais is 1.3 million barrels.
SAI attacks on Saudi Aramco's facilities on September 14 erased 5 percent of global oil production, leading to a record increase in oil prices. Prices have been withdrawn since Aramco has committed to recovering all production by the end of the month. The depressing global outlook and weakening oil demand also contributed to the decline in oil.
-Bloomberg
My Opinion :
The developments I cite above do not have a huge impact.
I think that, like some economists, crude oil prices should be between 55 and 60 dollars. If the depressed economic outlook of the world decreases, there will be an increase.
SAI attacks on Saudi Aramco's facilities on September 14 erased 5 percent of global oil production, leading to a record increase in oil prices. Prices have been withdrawn since Aramco has committed to recovering all production by the end of the month. The depressing global outlook and weakening oil demand also contributed to the decline in oil.
-Bloomberg
My Opinion :
The developments I cite above do not have a huge impact.
I think that, like some economists, crude oil prices should be between 55 and 60 dollars. If the depressed economic outlook of the world decreases, there will be an increase.
Comment:
U.S. Gross Domestic Product (GDP) QoQ isn't so strong. It is good for Brent Crude Oil and WTI.Updates will come .
Comment:
We're not in the negative zone right now.
We're not in the negative zone right now.
Comment:
Unless I break the line shown in the figure above, I don't think fast declines will come.
We ' re on stoploss level
It is better to close this trade and give it as a new idea in a possible movement.
We ' re on stoploss level
It is better to close this trade and give it as a new idea in a possible movement.
Comment:
I ' ll consider if there's a breakout.
I ' ll consider if there's a breakout.