Brent crude has been tumbling in recent weeks, forced lower by slowing growth, a coordinated SPR release and this past week, the new Omicron variant. OPEC+ had an opportunity to arrest the slump today and at first, it appeared they'd passed up the opportunity. But the decision to maintain not change their planned increases each month came with an important...
The opening trades after Thanksgiving Day brought no optimism for investors as some countries are debating on whether they should release oil from their reserves during a period when the demand is lagging amid new COVID-19 lockdowns in some European countries. Brent crude prices are losing almost 6% and this may not be the final price. Taking the price chart into...
The largest oil cartel in the world, the Organisation of the Petroleum Exporting Countries (OPEC) and its allies known as OPEC+ will hold a meeting on Thursday, November 4, to discuss oil production quotas. Markets expect OPEC+ to stay true to the existing deal to up oil production by another 400,000 barrels per day starting from December 1. On the other hand,...
In the coming week, we are expecting the price to reach the confluence between the trendline and the resistance before making another drop and reach the $77 level. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before...
I think we are ready for the next big rally in oil, this will cause a dramatic effect on inflation and affect earnings negatively going forward long term. I think it could reach as high as over $100 a barrel by mid August here. If so, the impact on the economy would be very large, with a delay of 6 months according to research by my mentor, @timwest With the...
The decision by OPEC and OPEC + on Monday to keep the plan for a gradual increase in oil production was prompted by fears that demand and prices could weaken. The group also considered the possibility of increasing production by 800,000 barrels per day, which is almost 1% of global production, ahead of Monday's meeting. Now the OPEC countries are more cautious,...
Hello Traders and Analysts, Breakdown: 1. Note 2. Contents 3. Research breakdown 4. Education recap 5. Information on Lupa. A Note before reading - this is a forecast analysis - based upon our trading strategy. This is tagged Long, due to purchasing further increments upon imbalances. Please do not take this as face value and conduct the relevant investment...
Mark Fisher was a presence in the natural gas futures arena in the days before electronic trading, racking up profits that made him very wealthy. On Wednesday, September 29, Mr. Fisher told CNBC that he does not see the November natural gas futures contract coming off the board below the October contract, making the $5.50 to $5.80 level a bottom. He warned that...
The question of the U.S. Debt limit is off the agenda at least for two months after President Joe Biden signed a funding bill to prevent government shutdown and allow funding through to December 3. Investors held their breath last week to see where stock indexes would land, and the answer is they rebounded by 0.82-1.43%. The new week starts with the OPEC+ meeting...
In this post, we will analyze the weekly Forex gold with the symbol XAU/USD. Fundamental analysis According to a previous analysis of the EUR/USD , fundamental news will be released next week, which could cause strong volatility. At the beginning of the week, when the OPEC meeting takes place and US banks are closed, we expect investors to pay attention to...
TVC:UKOIL Hi everyone , I hope you're all fine . - UKOIL has recently broke downtrend and also the price had a pullback to the broken trendline - Also the price is is moving in a ascending channel --------------- the next resistances would be : 1- 86.70 (which is the top of channel and also last resistance 2- 116.00 (which is a nice resistance with 4 touches...
In this analysis I do NOT consider fundamental factors that significantly influence the oil price. Thus I only focus on time period as short as can possibly be on technical basis. There is some convincing technical setup arising on WTI H4 timeframe with good signals each of which is worth taking into consideration, at least to me. 1) Broken short term descending...
We plowed through new highs last week as I anticipated in a bull case last week. The green levels in this weeks chart are last weeks major daily support / resistance levels from a couple order flow experts on fintwit. First thing I learned in stocks was that when the Normies (normal people) know, it's time to go. The 19th* dip trend I've been following...
Since May 2021, S&P 500 has gained almost 10%, while Copper/Oil ratio has lost 52%; which means oil prices are relatively higher than the Global economic growth capacities. IEA reported the same idea on Global OIL demand this week, which is totally in contrast with OPEC's demand assessments noted in it's August report. Since these high prices are weighing on...
OPEC monthly report was issued a few minutes ago, and the report was not positive for OPEC+ and the oil-producing countries within the group, led by Saudi Arabia. OPEC kept its forecast for oil demand in 2021 unchanged at an increase of 6 million barrels per day, bringing the average to 96.6 million barrels per day, and also kept its forecast for the growth of oil...
Equal highs got raided & Price came back to institutional candle. Looking for minor pullback to enter sell.
USDWTI H4 A break short of $70/barrel would be quite significant in my eyes, threatening the break as we speak, but need to ideally see a solid H4 close below. Our H4 support region is trading marginally below that $70 whole number, but the 'zone' is still a decent support region. Just need to wait for price exhaustion, especially with a volatile pair like WTI....
A compromised deal. After a two-week stalemate in the discussion, the OPEC+ reconvened its meeting over the weekend. As part of a compromise, the oil-producing group has agreed for a raise in the production baseline for five members. Oil production baseline increment in barrels-per-day (bpd) Saudi Arabia: 500,000 bpd Russia: 500,000 bpd UAE: 332,000 bpd Iraq:...