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Crude

Brent crude bearish sentiment Commentary: Despite the optimism around the reopening of China from COVID restrictions, oil prices remain vulnerable to fears of a global economic slowdown. The EU’s price cap at $60 per barrel while OPEC+ is expected to maintain existing production targets adds towards the bearish outlook on price. Brent crude : Last weeks gains can be viewed as a “corrective” bounce off the $81 support; since price has pierced below the September 26th lows at $82.30 may serve to keep alive the bearish price sentiment; downside potential spotted near the $79.7s while upside seems limited to $89.2 in the short term (5-25 days). Not investment advice. Past performance is not indicative of future results.
SKILLING:XBRUSDShort
by Skilling
Crude Oil Continues To Slide Downward - $55~65 on target.Did you follow my research from late October/early November? So many people thought Crude Oil would climb higher on supply concerns (related to Winter/Europe). But here we are sliding below $75 (soon) and targeting the mid-$60s. My call from October was that we may see $64 to $67 as a base. Now, I'm thinking we may see $54 to $57 as a base. What is going to prompt demand for Oil when the world is struggling with post-COVID inflation and the US is in the early stages of a moderate recession? The post COVID commodities recovery phase pushed Crude well above $110 for a while, but now we are starting to transition back to "normal" in terms of true supply/demand. In my opinion, Crude will settle between $55 ~ $65, then attempt to find some support. Follow my research.
NYMEX:CL1!Short
by BradMatheny
2
US OIl Trend Analysis 25/11/2022After Saudi Arabia denied a report that it was discussing an increase in oil supply with OPEC and its allies, there are now reports that they will promise additional measures to ensure oil market stability. Saudi and Iraqi energy ministers have been reported saying that there is an importance of working within the OPEC+ framework. as a consequence, oil rose in early trade on Friday despite the worries about Chinese demand and expectations due to the increase of covid in the nation: China's Covid infections hit record as economic outlook darkens.
TVC:USOIL
by OAurthor
Look at what happened to CrudeEnergy prices traded sharply lower as news was released that the proposed cap on Russian oil export prices will not be binding on output. Overnight, Brent reversed strongly, breaking below the 88.00 price level to test the key support level of 83.93. Brent could retrace briefly before trading lower toward the next key support level of 80.00. Similarly, WTI reversed from the 82.00 price area to reach the key support area of 77.00. Although the price has rebounded to the 77.88 price level, further downside can be expected, with the next key support level at 75.33.
FX:UKOILShort
by JinDao_Tai
WTI BEARISH OUTLOOKCrude Oil benchmark WTI broke its previous established support at 81.75 and continued its downtrend through Wednesday after G7 talk for implementing a price cap on Russian supply. The mark cap of 65-70 USD per barrel was higher than the market expected, which elevate some of the fears of supply distribution of the oil. Another positive news for the global oil supply is that Chervon Corp. might expand operations in Venezuela. Both MACD and RSI technical indicators are confirming the downtrend with MACD histogram below the 0 line and RSI below the 50 neutral line. If the trend continues the price might try to reach levels of 73.65 or even 70.47 In the opposite scenario, the price might revert and test its resistance at 81.75 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTIShort
by legacyFXofficial