The United States posted an increase in inventories of 5.5 million barrels in the past week. The realization was higher than the expected 73,000 barrels. Gasoline products supplied also rose in the last week to 9.1 million barrels per day. The figure marks a 6% decline in demand over the last four weeks compared to the period last year. From a fundamental point...
📈 Priority direction: Up . 📝 Description: After the downward movement since the end of July, the range of which is $16, there is a possibility of recovery and a possible local reversal. The price is at interesting support levels, and the volumes confirm the potential for a likely upward reversal. Buying from the current ones is not a good idea. Longs can be...
Oil remains in the range of $95.80 - $107.80. The probability of price growth is high. In the near future, I expect the area of $99 - $102.50, then the level of $107 looks good. In the longer term, oil could rise to ~$115. Good luck!!!
The trend seems to reverse from support and to reconfirm abcd pattern applied with C point retracement slightly avove 0.382.
Short Sell Call idea for XBRUSD and setting targets using support levels & head & shoulder projections.
Oil prices rose for the second day in a row, Tuesday (26/7). Amid growing concerns about tightening European supplies after Russia, a major energy supplier is cutting gas supplies via a main pipeline. The European Union has repeatedly accused Russia of using energy blackmail. The Kremlin said the shortage had been caused by maintenance issues and Western...
📈 Priority direction: Up. 📝 Description: Oil is also starting to gain momentum and gradually recover. This outcome of events is expected for us, earlier this perspective was approved in the ideas. Now the levels of $105-106 are the nearest support from which the price will potentially continue to grow. An alternative (unlikely scenario suggests) a rollback to...
📈 Priority direction: Up. 📝 Description: The downward channel for oil since mid-June indicated the priority of shorts, but at the moment, most likely, buyers will attempt to reverse the price and send it towards the latest highs. In the near future, the price will try to break through the resistance line of this channel. An alternative scenario assumes that...
it just broke a strong resistance in 1 d and 4 h chart and a red candel is seen in 1 h chart.
➡️ The oil market is dominated by panic about the fact that supposedly the price of raw materials expects a significant fall. The G7 countries are trying to limit the transportation of Russian oil if it is sold at a price above the limit. The head of the European Council, Charles Michel, said that the EU countries would be ready to introduce such a measure after...
USOIL fell below USD 100 as recession fears grew, fueling concerns that the economic slowdown would cut demand for petroleum products. In the macro trend, oil tends to be bearish. By the end of this year if the economy is heading into a recession. In a recession scenario with rising unemployment, bankruptcy of households and firms, commodities will chase a...
The Organization of the Petroleum Exporting Countries and its allies (OPEC), agreed on Thursday to increase output by 648,000 barrels per day (bpd) per month in July and August instead of the previously agreed 432,000 bpd. OPEC decision to increase production targets slightly more than planned. As a result of that expectation, it will have little effect on tight...
The United States government said US crude stockpiles fell by one million barrels last week, with gasoline inventories also falling slightly. The oil and gas commodity did not budge after volatile trade as fears of tight supply offset concerns over a possible recession and China's Covid-19 restrictions. World oil prices turned negative after US Energy Secretary...
XBRUSD UK Brent Oil against USD will grow more next week possible to continue with the bullish trend and break a 110.58 Resistance easily you may follow the uptrend and get trade from 109.80 to 110.20 for the short term. and also following H4, the D1 trade chart will go higher almost TP1: 111.00, TP2: 111.60, TP3: 112.80. This analysis only charts patterns with...
The soaring back of cases of Covid-19 made oil prices corrected down. 2 popular oils are WTI and BRENT. Technically, this month there was a breakout and recently there was a retest. This will allow the price to rise again, then form a smaller triangle pattern. for the target of buy accumulation of WTI : 94.5. BRENT : 97.5 profit target WTI : 103 -104. BRENT :...
➡️ "Black gold" rose to 111$ ahead of the long weekend. At the moment, oil is in the green zone, which seems to make sense amid expectations of tough conditions in the global market amid supply disruptions to Russia. Trading was rather thin in global oil markets on Thursday amid a slowdown in related news flow and as traders wind down ahead of the long weekend...
➡️ A small update to Friday's oil short idea in a new idea format. The priority of shorts remains, the fundamental reasons remain the same, but a larger perspective, of course, should most likely be expected to go long. Technically, at the moment, the actual short. One can open short from the current levels ( ~111.50$ ). The target of the fall will be the level ...
XBRUSD Pair will go uptrend so we will confirm after hitting the bearish candle with 101.65 line so there 90% chance to start an up trend so as follow the trend line with Resistance and support