Crude oil Check status and review factors
Oil is crashing – The marks were on the wall
crude oil showing suspicious signs
Is there a negative deviation between the oil price and the technical parameters on the charts?
Two months were enough to erase two-year profits
More than 40% decline in price in such a short time
Something not seen in the markets
Oil is a highly sensitive indicator relative to the expansion or contraction of the economy. it is not surprising that sharp declines in oil prices have been coincident with downturns in economic activity
The supply-demand problem is not likely to be resolved over the course of a few months either, Even if OPEC does continue to reduce output, it will continue to be insufficient to offset the increases from oil field production.
In my opinion, we are close to equilibrium due to several factors
Production costs – Today the cost stands at $ 43 per barrel – no one wants to sell at a loss
Key player positions and Oil producers
Technical price analysis
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The fact that the violence we see in the financial markets also contributes to the negative trend, and if it continues like that, then for a short period, the price can continue down without referring to the factors
Technically you can see that Area 42$ is saturated with signals and strong support points
If the price is not supported in the 41.30-41.80 area then I will have no choice but to continue diving down towards $ 34
Therefore anyone who is looking to do a trade-repair should pay attention Those points
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This review does not include any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice