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USOIL 20th JUNE 2022Before July, USOIL was seen moving in the consolidation channel area which tends to be bullish . in July, USOIL sentiment will tend to be bearish . The Organization of the Petroleum Exporting Countries (OPEC) member states announced plans to adjust oil production upward in July by 0.648 million barrels per day. In my view Oil prices are bearish but still not stable. Moderate bearish confirmation has not occurred, because the price has not yet breakout below the support area. So I will place a buy limit near the support area, with the target not exceeding the weekly resistance which is drawn in the red area. stop loss as well as sellstop below the support area.
TVC:USOIL
by DNP-FX
2
Crude OIL (XTIUSD) AnalysisTechnical Facts: Considering Technical analysis, Crude Oil already touched the second highest price in this week. now it’s high time for retrace. The Immediate support level is 117.80 to 118.20. A Strong break can lead the oil price till 114.18 which is the strongest support of 114.18. Fundamental Facts: Russia is one of the largest producer of Crude Oil in the world. a recent ban was imposed on Russia in 3rd June, 2022 by European Union. When supply decreases, demand increases and the price goes up. if EU cant convince Saudi Arabia to produce more oil and make a balance of the demands, the price might go up till 130 as well. therefore, the analysis might be invalid. Signals: CRUDE OIL SELL STOP 117.80 SL# 119.61 TP# 114.18
FXOPEN:XTIUSD
by ForexLab
USOIL 14th JUNE 2022Before July, USOIL was seen moving in the consolidation channel area which tends to be bullish. in July, USOIL sentiment will tend to be bearish. The Organization of the Petroleum Exporting Countries (OPEC) member states announced plans to adjust oil production upward in July by 0.648 million barrels per day at the 29th OPEC and non-OPEC Ministerial Meeting on June 2, reports the organization’s press service. US President Joe Biden has repeatedly appealed to Saudi Arabia to increase its oil output without success. UK Prime Minister Boris Johnson also asked Saudi Arabia and the United Arab Emirates to boost production. He too was rebuffed.
TVC:USOIL
by DNP-FX
5
OIL 5th JUNE 2022The 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 global supply and by increasing demand as China loosens Covid restrictions. From the existing fundamental trend, the oil price tends to be bullish, it is possible that the price will breakout the resistance area. However, market participants still think the price of oil is too high, this can make the price rebound to the resistance area, and make the price will correct down. OIL 26th MAY 2022
TVC:USOIL
by DNP-FX
USOIL 26th MAY 2022The 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 Jennifer Granholm said President Joe Biden had not ruled out using export restrictions to reduce soaring domestic fuel prices. This makes world oil prices tend to be sideways , this is my USOIL trading plan.
TVC:USOIL
by DNP-FX
6
USOIL 16th MAY 2022World 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 China has had a negative impact on the oil market, which was hit by a sell-off along with equities. In my view, if price has breakout from H1 diagonal support area . This is a good opportunity to sell with the target105.2 - 101.8
FXOPEN:XTIUSDShort
by DNP-FX
2
OIL 10th MAY 2022World 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 up to 103.8 USOIL 6th MAY 2022 Currently, China has shown signs of implementing a new normal, but its economic growth is not as aggressive as before the pandemic. 13 Chinese cities have been in total lockdown since March, and several others have been in partial lockdown. USDCNY D1
FXOPEN:XTIUSDLong
by DNP-FX
2
XTI/USDXTI/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 confident breakdown of the protection zone 100, cautious sales can be considered with targets below the 87.50 zone.
FXOPEN:XTIUSDLong
by Kuznetsov_Sergey