Dear Esteemed Members, There are several fundamental factors that could support the oil price reaching $76.09 per barrel, which is the highest level since November 2014. As the global economy rebounds from the pandemic, the demand for oil is expected to increase, especially in the second half of 2024. The International Energy Agency (IEA) projects that global...
Hi, According to my analysis of the oil market, it seems to be in a very negative state. We notice that the market is in a downtrend with a descending channel forming as shown in the analysis. The price also rebounded from the demand block area at the 76 level, indicating further decline in the coming days. Good luck to everyone.
Hello, according to my analysis of the oil market on a four-hour frame. It appears from the analysis that it is still in a downward trend. Through the descending channel that confirms the sellers’ control over the market. Good luck to everyone.
Marhaba Saudi Arabia stocks were lower after the close on Sunday, as losses in the Cement, Hotels & Tourism and Energy & Utilities sectors led shares lower. at the close in Saudi Arabia, the Tadawul All Share lost 0.17%.the best performers of the session on the Tadawul All Share were Wafrah for Industry and Development Company SJSC (TADAWUL:2100), which rose 5.74%...
The recent rise and fall of crude oil, as a whole is a big shock, although it is an upward trend, but not so clear, yesterday's daily line is very unexpected unexpectedly closed the negative line, the rise is not coherent, such a market we understand as shock, today's thinking of shock more treatment, today's crude oil attention yesterday back to the low point is...
Oil traders overreacting to the wrong triggers? Divisions within OPEC have caused WTI crude to fall below $74 per barrel, ending a three-day climb for the commodity. Angola, which joined OPEC in 2007, said it is leaving the Organization of the Petroleum Exporting Countries. This move raised concerns about OPEC's capacity to stabilize global prices,...
It has come to our attention that several shipping companies have temporarily halted their operations in the Red Sea, leading to a slight disruption in the transportation of oil. As you are aware, the Red Sea is a crucial shipping route for oil tankers, connecting major oil-producing regions to global markets. Any disruption in this route can have far-reaching...
Oil's Next Move: Red Sea Conflict and $75? BP has suspended all oil and gas shipments through the Red Sea due to a rise in attacks on cargo ships and a deteriorating security situation attributed to Iran-aligned Houthi militants in Yemen. This move has caused a 2% surge in oil prices, pushing WTI crude futures to $72.5 per barrel. This development signals the...
Hello everyone, WTI Crude Oil 6H NEW FORECAST Oil price trading stabilizes above the moving average of 50, and we expect the bullish tendency to continue to visit the pivotal resistance of 73.73 mainly, awaiting further expected rise during the coming sessions. Consistency above 71.35 represents an important condition for the continuation of the proposed...
According to Downtrend channel To The end of Impulsive Wave To fibonacci Retracement
The perfect sell setup
First Head & Shoulders resulted in massive dump literally to 0. The one that's forming now is about to resolve, and dump is expected to be pretty big, although it won't go to 0 this time.
Hello everyone, WTI Oil 6H NEW FORECAST The oil price is showing positive trading with the opening of the day, approaching the pivotal resistance of 70.50, and as we indicated yesterday, the price needs to remain below this level for the bearish trend scenario to remain effective, remembering that our next main target reaches 68.81. The Stochastic indicator...
Crude oil fell below 70, with no bullish signals in the short to medium term. Oil prices have continued to fall since the second rebound in late October failed, and eventually formed a downward trend. Oil prices have hit the August low of 77.80. Oil prices showed a minor shock pattern around the lows, forming a flag relay pattern. Oil prices successfully fell...
Hello everyone, WTI OIL 6H NEW FORECAST Oil price trading stabilizes below the level of 73.73, so that the bearish trend scenario remains valid and effective for the coming period, supported by the negative pressure formed by the moving average of 50, waiting to head towards the levels of 72.20 and then 70.33, which represent our next main targets. ...
i think we reached to over-selling and to good support to buy the oil from now with target between 72-74$
Rising Flag formed on Sasol, the price broke below and beautifully it went down on a strong trajectory and declination. The price remained below the 200MA confirming the bear market for the company. The price came down in a strong fashion takeing it to the first target of R184.52. The oil price also coincided with the Sasol price having the downtrend dominate...
Hello everyone, WTI Oil 6H NEW FORECAST The oil price achieved an initial breakthrough to the 77.86 level and is trying to stabilize above it, which requires attention in the upcoming trading, as confirmation of the breakthrough will push the price to recover and achieve gains up to 81.80. The Stochastic indicator is showing negative signs that may push the...