Tag Archives: Oil

As we expected, US crude oil futures prices achieved a strong decline yesterday within the bearish directional movement, touching the first official target of the previous report at 82.65, recording the lowest price at 82.44. Technically, the regularity of movement within the descending price channel supports the continuation of the …

US crude oil prices failed to achieve the required bullish target during yesterday’s trading session, in which we relied on daily stability above 83.80, touching the stop losses order there, and to remind us that the return of trading stability below 83.80 will immediately stop the attempts to rise. We …

US crude oil futures prices succeeded in achieving the bearish target that is required to be touched during the previous analysis at 83.20, surpassing the required target, recording 81.75 during the middle of trading, before the bullish rebound that led the price towards 85.75. Technically, looking at the chart, the …

Negative trading dominated the US crude oil futures prices within the expected bearish path at the end of last week’s trading. It was heading towards the official target of 84.40, recording its lowest level of $84.30 per barrel. Technically, by looking at the 4-hour chart, we notice that Stochastic is …

Oil prices slightly rose on Friday on news about Iraq’s Basra terminal’s spill. The news indicates crude supply constraint, but overall, prices are still down on the week on fears that interest rate increases will curb global economic growth and accordingly will impact global demand for fuel.Brent crude futures settled …

Divergent movements dominated the prices of US crude oil futures yesterday, after it failed to confirm the breach of the pivotal supply area published during the previous analysis at 89.10, explaining that it is an important and basic condition for the continuation of the rise, which forced it to move …

We adhered to intraday neutrality during the previous report for the second consecutive session due to the conflicting technical signals, to witness the movements of US crude oil in a positive trading session, as activating the buying positions requires a breach of 87.10, targeting 88.10 and 89.00 respectively, to record …

Oil prices fell slightly on Wednesday, amid fears that the US Federal Reserve will raise interest rates again next week after an unexpected rise in consumer prices in August, dispelling support from a strong outlook for the Organization of the Petroleum Exporting Countries on the growth of oil demand. Brent …

We adhered to intraday neutrality during the previous report due to the conflicting technical signals, explaining that activating the bullish path depends on confirming the breach of the 88.40 resistance level to enhance the chances of a rise towards the first target 89.45, recording the highest level of 89.30 during …

OPEC on Tuesday maintained its forecast for strong global oil demand growth in 2022 and 2023, based on indications that major economies are doing better than expected despite unfavorable factors such as rising inflation. The Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report that oil demand …