Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Commodities, Stocks, and Indices
Crude Oil Updates by Solid ECN
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="SOLIDECN, post: 207539, member: 80239"] [JUSTIFY][img]https://i.ibb.co/3yWBk8h/oil-3.png[/img] Brent Crude Oil prices show a slight corrective growth, recovering from the "bearish" start of the week, which led to the renewal of local lows from April 12. Analysts attribute the current increase in quotes to technical factors, while the general news background still exerts moderate pressure on oil. First of all, traders are concerned about the risks of lower demand for energy in China. The authorities are reporting an outbreak in Beijing, which again threatens a large-scale lockdown that will affect millions of people and lead to a marked reduction in industrial production. In the capital, 22 non-imported cases of COVID-19 were detected the day before, as a result of which a number of gyms and children's clubs suspended work. China remains one of the few countries that have adopted a "zero tolerance" policy, imposing mandatory quarantine for those who come into contact with infected citizens in order to contain the spread of the disease. The growing US dollar, which is actively in demand as a safe haven, also has a negative effect on oil. Today, traders will focus on the data on the dynamics of Durable Goods Orders. Analysts' current forecasts are quite optimistic and suggest a 1% increase in March volumes after a 2.1% decline a month earlier. Also during the day, the weekly report of the American Petroleum Institute (API) on the dynamics of stocks for the week ended April 22 is going to be released. The previous publication reflected a sharp decline in the rate of 4.496 million barrels. [img]https://i.ibb.co/6Y33fxh/oil-4.png[/img] Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is almost unchanged, reflecting ambiguous dynamics of trading in the short term. MACD is going down, demonstrating a fairly stable sell signal (located below the signal line). The indicator is trying to consolidate below the zero level. Stochastic keeps a downward direction but is already approaching its lows, which indicates the risks of oversold instrument in the ultra-short term. Resistance levels: 104, 106, 109, 112 | Support levels: 100, 96.5, 93.34, 90 [img]https://i.ibb.co/RHYW2HR/oil-1.png[/img][/JUSTIFY] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…