Not many ideas out here, in open water 🌊🏴☠️😁
Looking to explore a continuation of the downward channel, with target at the key support displayed at 62. I will take some profit at 66.75 to cover the potential of an inverse head and shoulders forming.
Potential breakout of channel is a possibility with the next move beig a bounce off the monthly up trend...
The yellow and red lines mean: I think prices can return in these areas.
Green lines mean: I think the price can reach these areas. They are therefore known as transaction targets.
If you want to use this deal, please risk only one percent of your account balance.
The price of crude oil was bolstered yesterday following the publication of the latest Ministerial Meeting of OPEC and Non-OPEC. The Meeting did not comment on the persisting global supply bottlenecks, which allowed crude to keep advancing.
At present, the price action is bound to test the psychologically significant resistance level at 70.00 and the descending...
Trend direction is essential, be on the winning side by using our Omega Trend Analysis.
Posted monthly for EUR, DJ, NAS, OIL, GOLD, BTC, T-Note and Soybean
See previous months for testing, suggested to use a strategy with entry, exit and mm.
These dates are speculative, do not over trade/ trade responsibly to grow account over time.
We are suggesting trend...
Expecting the recent appreciation in value to be short lived as price is coming off the monthly resistance. Price is expected to at least reach 59$ before any possible reversals can be argued.
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Crude Oil, Oil Futures - Astrology Forecast
We continue to see good results for projected levels.
Start to look for buys from 18th Aug until next update end of month. Min 100 pip target.
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A compromised deal.
After a two-week stalemate in the discussion, the OPEC+ reconvened its meeting over the weekend. As part of a compromise, the oil-producing group has agreed for a raise in the production baseline for five members.
Oil production baseline increment in barrels-per-day (bpd)
Saudi Arabia: 500,000 bpd
Russia: 500,000 bpd
UAE: 332,000 bpd