Although the interruption of some exports from the Kurdistan region of Iraq has raised concerns about tighter supply, the United States is expected to start strategic reserve repurchases during the year, which will also benefit oil prices to promote a rebound in oil prices.However, because of the geopolitical situation between Russia and Ukraine, it is more the...
Because the banking crisis has temporarily eased, supply disruptions in northern Iraq have exacerbated supply tensions, and signs of increased demand from China have provided stronger support for oil prices. Judging from the trend of crude oil, after yesterday's sharp rise in oil prices, it rebounded to above US 70, and the technical bullish signal was...
Here is our technical outlook for WTI Crude Oil. Time Frame: Daily Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 73.8. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 66.3...
Will we see Crude go back into the $100 only time will tell based on the analytical data it shows that market trends are off by a few dollars but we can only guess that it will have to stabilize once we get our reserves replenished and who knows when that will be... Banking markets have alot of say when it comes to capex dollars being loaned out by producers.
There may not be a shortcut to success, but there must be a way.Give up what should be given up, grasp what can be grasped; only insist on investing in your own investment standards. Yesterday's short crude oil orders reaped very good profits, and the current crude oil is creating favorable trading opportunities for us. At present, the U.S. Secretary of Energy...
At present, it is in the process of rebounding after a volatile decline, and the short-term trend is relatively volatile. On the one hand, oil prices have initially bottomed out, which is a bit like a sign of inverted V reversal; on the other hand, oil prices seem to be undergoing a correction after breaking the level and falling.At present, the short-term rebound...
Hello everyone, I have been using this chart ever since wave 2 and have been shorting OIL since $110ish. Why? We all know oil is overpriced and it went up parabolically after having crashed to negative prices. I believe oil has much more to go down as the PetroDollar is dying. China,alongside BRICS members, have united forces to create the PETROyuan and will...
Welcome . The oil market is in a negative state. After breaking the bullish flag. We are just waiting for a retest of the downtrend. To further go down to level 76 Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
Roman Roland once said that people often feel that the stage of preparation is a waste of time. Only when the real opportunity comes and they are unable to grasp it, can they realize that their usual lack of preparation is a waste of time. Recently, it is mainly due to people's concerns about the global economy that have dragged down oil prices. However, the...
Well Well Well, Oil is back in the 60's with a threat of dipping it's toes in the 50's pool. This is a time where there is uncertainty in the market and everyone is panicking. If you add all of the news plays, one could go mad trying to catch every twist and turn Oil takes people on. anyway, What are we looking at? We are seeing Oil at the lowest point it has...
Crude oil prices continued to fall today, and are currently trading near US 65 per barrel.On the fundamental level, the supply and demand structure of the international crude oil market is still a small oversupply. Unless OPEC has a significant production reduction, it will be difficult to achieve much growth on the demand side. Although UBS reached an agreement...
As the banking crisis hit the global financial and oil markets, NYMEX crude oil and Brent crude oil both fell more than 9% this week, and oil prices will record their largest weekly decline since the week of December 9 last year. From the perspective of the trend, crude oil rebounded weakly after breaking through the level. Whether it is the daily or weekly line,...
Oil prices bottomed out and rebounded on Thursday, ending a three-day decline. Earlier, there were reports that Saudi Arabia and Russia met to discuss how to strengthen market stability. The two countries continue to promise to abide by the decision to reduce their production target by 2 million barrels per day by the end of 2023; helped by a strong rebound in the...
We look like we are starting to reverse. Remember to set your stop where ever you can afford to take the loss.
Hello, the oil market has a high probability of going up. The price reached a very strong support. It is level 66. With very positive candles. subject to buyers' power . Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
After the recent bankruptcy of Bank of America, the pessimism of global investors lingered, and the increase in API crude oil inventories was greater than expected. It is expected that oil prices will still be at risk of further decline in the future. In the trend of crude oil, the short-term decline continued during the day. The current lowest point during...
I was anticipating a buy position on oil but it failed to break 82 dollar region where I plotted a minor zone. it has come down to break a very strong support, I'm watching out for weekly candle close and a retest to that zone it broke out from then I will be looking out for sells opportunity on 4hr Time frame.
TVC:UKOIL According to the combination of failur in upside movement and negative news around macro economy, i expect more decline for oil price .