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...
we have seen GBP/USD going upward from so many days and now it has to go down like 80 pips downward from here so sellers have the chance to make money here
gold making the events around sellers and we can see the movement of downwards till 1830 for now our fiest target is to reach 1839 for now from 1855 it means we are expecting the movement of 160 pips downward from 1855
World oil prices fell due to continued lockdowns in China, the world's top oil importer, sparking concerns about the outlook for oil demand. Asian share markets were struggling to sustain even a minor rally on Monday after shockingly weak data from China underlined the deep damage lockdowns were doing to the world's second-largest economy. The COVID lockdown in...
Based on chart pattern analysis XTIUSD is currently forming a symmetrical triangle pattern, the price broke out above the resistance area, then retested. the price tends to be bullish going forward. Bullish target is up to 115.30 , stop loss if the price returns to the symmetrical triangle area.
USDWTI H4 Saw a nice hold up on the D1 yesterday on a clear area of daily resistance. Interested to see if this is the point of reversal, we have had a nice trading range for the best part of two months here. Stops to cover wicks dated back to March 21. 6.5R trade to take us down to $95 as mentioned yesterday.
I updated my Elliott wave analysis. In the last case, I will follow the specified levels and enter the sales process. My expectation is 60 dollars
USOIL is looking like it may move higher. We have found a bottom (point 5 green) and a nice reversal higher. We have made it above point 4 - creating new high and we should take nice profits now. Now we expect a reversal to the breakout - blue line. If it gets there we'll examine the price action to see if we can go long again and continue the swing higher.
World oil prices fell due to continued lockdowns in China, the world's top oil importer, sparking concerns about the outlook for oil demand. The COVID lockdown in China has had a negative impact on the oil market, which was hit by a sell-off along with equities. In my view 97-100 is support level. This is a good opportunity to buy with the target of the correction...
XTI/USD Intensification of purchases is facilitated by the discussion in EU on topic of new anti-Russian sanctions, which include not only a ban on oil imports from RF but also the maintenance of oil cargo, including resale, transportation and insurance. There is no final decision yet, but the market is preparing a springboard for a new upward spurt. With a...
USOIL trade can catch lower low level before heading up as shown in the graph. In addition, Trade will be bullish in coming session. First It will attain peak level then can suddenly go for free fall to hit new lower low. Trade will be highly volatile. Take Position after careful consideration.
The high price of oil was caused by Europe embargoing energy imports from Russia, rising prices were restrained by China during the Covid-19 lockdown, thereby limiting the production activities of those need energy. So at this time oil still tends to be sideways , for future fundamental events it will be illustrated in the chart whether the price will breakout...
UDSWTI H4 Initial area of resistance had broken, and we have made slight adjustments to the resistance price/zone here. Very clear trading zone, something I'm taking short on from the details indicated. Strong 8.5R from resistance down to support. And 3.75R to interim resistance.
USDWTI H4 Hoping to see the next bearish wave here on Crude, we pulled back during yesterday's trading sessions, but still very much in a clear LL/LH sequence. Hoping we can breach $100 on this next wave, subsequent retest as resistance, then we can target major support price of $95/b.
USDWTI D1 Big daily timeframe here, expecting WTI to fall shorter again this week, continuing the theme we saw last week. Small spike towards the end of the week, but nothing to break the technical trend. Expecting very much the same with gold too, analysis to follow.
A bullish gartley & bullish bat confirms the long entry in a correction sequence for a while, it may reverse from the 0.618 level.
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