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 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.
A long time past since the 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
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| Crude oil Analysis |
The question being asked now is what’s next? Looking at 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
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| Crude oil news |
it all starts here: Oil is crashing – The marks were on the wall
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1 Comment
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