API Actual: 9.047M API Consensus: 1.467M EIA Crude Import Actual 0.259M EIA Crude Import Previous: -0.385M EIA Crude stock Actual: 8.701M EIA Crude stock consensus: 1.160M As Saudi Oil production had shrunk to nine million barrels per day in July since its last OPEC meeting with Russia to restrict supply amid signs of weakening global demand...
International oil prices rose more than 2% on Monday amid widespread expectations that OPEC+ will announce further production cuts after a meeting of member states early next week. Traders are eyeing potential speculative buying in crude oil trading as global risk sentiment appears to be strengthening and optimism returns among financial institutions. Crude oil...
Expecting some sideways before a move up into the 78.50 region and a pull back to the levels shown . Aside from the confluences I have documented , this plan also correlates well with my USD outlook . I will wait for the short and have alerts set but there is also a long from around 75.20ish if you wanted to take the move up beforehand. Of course this...
Hello everyone,Oil price is trying to confirm the breach of the descending channel resistance, to support the continuation of the expected bullish trend for today, whose targets start at 77.86, noting that breaching this level will extend the bullish wave to reach 79.32 as a next positive station. On the other hand, it is necessary to note that breaking 76.35...
Currently, all the movements I look at and position myself differently. It is important to show yourself all the possibilities and get rid of your emotions if I see that the ABC correction is (LONG), it can easily lead to scam wick, which is also not excluded(SETUP-LONG) + Head and Shoulders Pattern(SETUP-LONG). Also, this could be an even bigger drop(Biggest leg...
Crude oil prices fell for the fourth consecutive week last week. A substantial increase in inventories and record production were the main reasons for the decline in crude oil prices last week. The entire market has been weak recently due to supply concerns and a significant drop in demand. However, on Friday due to some short sellers Oil prices rose as...
The U.S.-listed shares of YPF SA (YPF) shot up 24.3% toward a one-month high in premarket trading Monday, as investors in the Argentina-based oil and gas company cheered the election of right-wing populist Javier Milei as the new president of Argentina. The stock's rally was part of a broad gains in share of other Argentina-based companies, as the Global X MSCI...
After failing to break through 80 this week, crude oil fell again to around 75.56 after the US EIA inventory data emerged yesterday. There is currently no good news for crude oil in the market. The overall trend of crude oil is very weak, showing a slow falling trend. After breaking above the moving average, oil prices did not stand firm but fell back and fell...
The light crude oil futures market, with a current daily price of $73.18, is positioned below the 50-day moving average of $84.78, indicating a bearish trend in the short term. It’s also below the 200-day moving average of $78.11, reinforcing this bearish sentiment. The price hovers above the minor support level of $72.48 and is significantly above the main...
TVC:USOIL FX:USOILSPOT Before we predict the next week, let's take a look at the trend of the oil chart. The price continues to move in a downward trend. Due to the support area, we can expect a rise in oil price to the previous high level. If this uptrend fails, the price will reach lower targets below 77$. ✌💥If you are satisfied with my analytical...
Hello everyone, Oil price is testing the key resistance of 73.70, which is positively influenced by the stochastic index, the price needs to be below this level for the bearish trend scenario to remain valid, which has the next target at 72.12. On the other hand, it should be noted that the confirmation of the breach of 73.70 will push the price to move higher...
Last week's swing trade to $90 worked out well, yet momentum ha since shifted lower. I noted in the recent COT report that managed funds and large speculators have been trimming long exposure in recent weeks, and that managed funds increased short exposure last week despite the slew of negative headlines surrounding the Middle East conflict. This also...
WTI Crude Oil hit today the bottom LL trendline of the six week Channel Down, turning oversold on the 1D timeframe (RSI = 31.036, MACD = -2.860, ADX = 46.284). That alone is a strong medium term buy signal, aiming at a +10.15% rise (TP = 79.50), which is how much the previous bullish leg of the Channel rose by. That is where the R1 level is also (79.75) and...
Oil prices have risen in recent days on the back of a bullish outlook from OPEC+'s monthly report and the International Energy Agency (IEA) released a monthly report on Tuesday that raised its crude oil demand growth forecast for this year and next. Oil prices have been range-bound due to signs that tensions in the Middle East may be easing and uncertainty...
Brent oil is going down to 78.25$ after bullish turn few days ago. Follow To Get More Signals. If you’re trader and looking for professional technical analysis advice for your trades, send us your case and we’ll serve you. Don’t be hesitate to contact us. Best Regards.
After the analysis and possible scenarios I posted here: The two zones that I tolerate everything for long are here. I expect to test Moving average again and we will get the final result. Another secondary scenario is that there is a recovery, and to new low levels
Hello everyone,The oil price is facing negative pressure to test the 77.86 level, and the price needs to remain above this level for the bullish trend scenario to remain effective, waiting for a breach of the 79.63level to facilitate the task of rushing towards our next positive target at 81.23 . On the other hand, we note that breaking 77.86 will stop the...
Oil prices rebounded by 2% last Friday, and market sentiment has improved. However, what impressed investors more deeply in the past week was the sharp decline in oil prices in the first half of the week. The rapid decline in oil prices broke through the lower edge support of the high range created by OPEC+ production cuts and the Palestinian-Israeli conflict,...