EUR/USD 1.17896
-0.038%
Gold 4492.04
0.173%
Oil 58.298
-0.139%
USD/JPY 155.864
-0.248%
GBP/USD 1.35197
0.018%
GBP/JPY 210.651
-0.225%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to futures market news on December 24th, as of the week ending December 20th, Japanese commercial crude oil inventories decreased by 264,762 kiloliters from the previous week to 9,958,810 kiloliters. Japanese gasoline inventories increased by 69,303 kiloliters from the previous week to 1,783,685 kiloliters. Japanese kerosene inventories decreased by 118,036 kiloliters from the previous week to 2,154,773 kiloliters. The average operating rate of Japanese refineries was 89.3%, compared to 90.8% the previous week.Sources say BP expects to receive a net gain of approximately $6 billion.Sources say the deal will value Castrol at $10 billion, including debt.Sources say BP (BP.N) is close to reaching an agreement to sell a majority stake in Castrols lubricants division to Stonepeak.December 24th - From January to November, total electricity consumption in China reached 9,460.2 billion kilowatt-hours, a year-on-year increase of 5.2%, of which industrial power generation by enterprises above designated size was 8,856.7 billion kilowatt-hours. By sector, primary industry electricity consumption was 137.4 billion kilowatt-hours, a year-on-year increase of 10.3%; secondary industry electricity consumption was 6,043.6 billion kilowatt-hours, a year-on-year increase of 3.7%, with industrial electricity consumption increasing by 3.9% and high-tech and equipment manufacturing electricity consumption increasing by 6.4%; tertiary industry electricity consumption was 1,820.4 billion kilowatt-hours, a year-on-year increase of 8.5%, with charging and swapping services and information transmission, software and information technology services increasing by 48.3% and 16.8% respectively; and residential electricity consumption was 1,458.8 billion kilowatt-hours, a year-on-year increase of 7.1%.

Crude Oil Price Prediction: Volatile Movement in the Crude Oil Markets Will Continue

Alina Haynes

Jul 20, 2022 12:07

截屏2022-07-20 上午11.54.21.png 

 

The price of West Texas Intermediate Crude Oil has fluctuated wildly as it appears that the $100 barrier presents major psychological resistance. The 50 Day EMA, which is just over the $105 level, must be watched if we are able to break above that level. In addition, there is a ton of supply there, plus a prior trendline that may serve as resistance. In summary, I think this market will continue to be quite agitated and competitive in both directions. You must thus use caution while choosing the size of your position.

 

Since Brent markets are located right below an uptrend line, they are also quite loud. A lot of people will pay close attention to that uptrend line, therefore I believe that any symptoms of exhaustion will likely be seized upon as the first ones to appear on the chart. I believe that the 50 Day EMA, which is positioned around the $108.76 level and declining, also presents a considerable amount of resistance.

 

As we try to decide whether or not we are going to continue to rally or if we are going to focus on the idea of a global slowdown from an economic standpoint, I believe it's only a matter of time before we pull back, perhaps just to stay in the same range that we have been in for a while. This is typical for this market. Right now, it appears that we are merely bouncing off the 200 Day EMA and may be attempting to settle into a new range.

Suggestion