Initially postponed due to member disagreements, the OPEC+ meeting is now set for Thursday. Discussions are poised to delve into the consideration of deeper oil production cuts. Analysts foresee the potential extension or intensification of supply reductions into the coming year to stabilise oil prices, which currently hover around $80 a barrel. While the...
The prices of oil appear very negative as they record losses for the fourth consecutive day. Markets are selling crude oil futures contracts due to the current division within OPEC+ on how to proceed, with the prospect of a lack of severe measures to support oil prices. The postponement of the OPEC+ meeting to a virtual mode on Thursday highlights a deep division...
Oil is currently priced at 74.245 to buy a large amount. Make money with me. 75.5-76TP
✅CRUDE OIL is trading in a Downtrend and the price retested The horizontal resistance of 78.00$ And is going down again so I think that we will see A further move down SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
The OPEC meeting originally scheduled for November 26th will be postponed to November 30th, and OPEC will change to an online meeting on November 30th, which will affect the trend of oil. Oil has always been weak, volatile and falling Observe the support strength of the support range 73.7-74.1 of the last rebound If it falls below this support range, oil may...
Crude oil continued its downward trend at the opening on Monday, and its rebound at $75.7 once again encountered resistance and declined, indicating a bearish trend. Looking at the daily trend chart, the daily level has been negative for three consecutive times. Although there is no new low quotation, the high price has not been broken, indicating that an...
Western Texas Intermediate (WTI), the U.S. benchmark crude oil, is currently trading near $75.05 as of Tuesday. WTI prices show modest gains, supported by expectations that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will extend oil production cuts in the upcoming Thursday meeting. Amid the recent oil price slump, analysts predict...
During Monday's Asian session, the EUR/USD pair experienced modest declines, primarily due to renewed demand for US dollars. The rise of the EUR seems constrained due to current macroeconomic prospects. Currently, the pair is trading near 1.0935, with a 0.08% loss for the day. Economic data from Germany indicates an improvement in the German IFO business climate...
BLACKBULL:WTI is set to consolidate at around the $75.00-$80.00 range, after failing to decisively break the November 22 swing low of $73.85, which could have exacerbated a drop to $70.00 per barrel. That said, WTI’s success in registering a daily close above $75.00 could open the door to test the first resistance at the 20-day moving average (DMA) at $77.62...
Hey Traders, in today's trading session we are monitoring USOIL for a selling opportunity around 76.50 zone, USOIL is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 76.50 support and resistance area. Trade safe, Joe.
Most of the technical analysis from last week still stands true but I have added a new Fixed Range Volume Profile from the last peak and a resistance line from there as well. Projected Price Range The anticipated weekly price range for Brent Crude Oil is expected to fluctuate between $78.00 (Min) and $87.50 (Max). Contended Price Levels $81.00 - $78.00 High...
As the global demand for oil continues to decline, coupled with the upcoming OPEC meeting, it is crucial to approach this situation with caution and strategic planning. Over the past few months, we have witnessed a steady decline in oil prices, primarily driven by various factors such as geopolitical tensions and a shift towards renewable energy sources. This...
Last week, the momentum of crude oil has weakened, and next week will focus on the Opec meeting, which is mainly short before the meeting! This week's profit is less, I will layout after waiting for the big trend!
USOIL / 4H Hello traders, welcome back to another market breakdown. USOIL Broken from the range and the price now is in a deep-pull back. I'll be watching if the bulls can prevent the breakout from happening. Trade safely, Trader Leo
Essentially, the session of the U.S. stock market index was relatively flat, hovering close to previous values and closing with a modest increase of 0.06%. The start remained stable compared to the previous day's close, with subsequent movements within a trading range throughout the entire session and an improvement towards the peak reached at 4,560.3. Presently,...
CAPITALCOM:OIL_CRUDE chart mapping/analysis for last week of November. TBC further details/write-up via ideas section.
Looks at NYMEX:CL1! it was overcooked. If we take the fact that it couldn't hold over the order block it retreated under the peak down trend. I don't know how low it can go, but if it doesn't slow down be prepared to see sum $80 levels!!! Let see where it goes.
USOIL if it breaks below then next target will be 61$ - 62$, if breaks above with retest then next target will be 98$ to 99$