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Crude Oil

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Do we have a replay in the oil price markets?

Crude oil Analysis

Crude oil prices have risen to their highest levels since September 2019 at the close of trading last week following the US-China trade deal

Another reason for the supposed rise in crude oil prices was the cut in production, which OPEC members concluded concluded that an additional 500,000 barrels per day would be reduced from production by March 2020. Initially, only 300,000 barrels were expected to be cut daily.

long time pass since last post on crude oil

We all remember the attack in Saudi Arabia  who led Oil Prices Close 15% Higher On Record Trading Day
It turns out that the situation is not as serious as initially thought - Saudi Oil Outage Impact Not As Bad As Predicted and oil closed this gap

Crude oil  news Analysis
Crude oil Analysis

The question being asked now is what's next?Looking on the charts you can see a number of things in terms of short-term oil has shifted to positive, with traders having to focus on several points:As long as the $ 58 level is maintained on a daily basis the direction is up When in order to strengthen the long should see repetitive migration above the $ 62.30 -63.40 level Breaking up those  level will most likely lead crude oil to cope with 67$ or even 73$As long as oil trades above the $ 53 price level the trend is positive

Crude oil chart Analysis
Crude oil news

it all starts here: Oil is crashing - The marks were on the wall

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

1 comment:

  1. An incredibly interesting examine, I may possibly not concur entirely, but you do make some very valid points.