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Crude Oil Updates by Solid ECN
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[QUOTE="SOLIDECN, post: 210005, member: 80239"] [JUSTIFY][img]https://i.ibb.co/rkMZX2L/6.png[/img][/JUSTIFY] [HEADING=1][JUSTIFY]Brent Crude Oil - G7 prepares to set cap prices for Russian oil[/JUSTIFY][/HEADING] [JUSTIFY]Yesterday, the quotes showed a moderate increase, caused by the experts' fears of a reduction in the supply of raw materials to the market. In particular, it is expected that new restrictions may be introduced following the results of the summit of the leaders of the G7 countries in the Bavarian Alps, where the issue of the marginal cost of Russian "black gold" is currently being discussed. The initiative, which involves determining the maximum price of the energy resource directly from the buyer, was introduced by US officials, who note that this will significantly reduce the revenues of the Russian budget against the backdrop of reduced supplies. While the final decision has not been made, it is reported that the negotiations are being conducted "constructively." In turn, the French authorities called on Iran and Venezuela to increase their oil production to start correcting prices on the market. Among other measures, new bans on gold imports are expected, as well as a possible expansion of the oil embargo. Macroeconomic indicators in countries dependent on energy supplies are showing the first signs of a slowdown, which is only partly due to the price itself, as the fall in supply has so far been offset by a decrease in demand. Traders fear a recession in several of the world's leading economies, including the United States, where inflation remains at record highs despite the active actions of the American regulator, and too rapid interest rate growth negatively affects the well-being of households accustomed to extremely low costs borrowings. The focus of investors on Tuesday, also with speeches by representatives of the European Central Bank (ECB), is a report from the American Petroleum Institute (API) on oil inventories for the week of June 24. Previous statistics showed an unexpectedly high increase of 5.607M barrels. [img]https://i.ibb.co/X8WRTVX/oil-1.png[/img] On the daily chart, Bollinger Bands are moderately declining: the price range is actively narrowing, reflecting the ambiguous nature of trading that has developed in the short term. The MACD indicator is growing, forming a new buy signal (the histogram is above the signal line). Stochastic is showing more confident growth, but it is rapidly approaching its highs, indicating that the instrument may become overbought in the ultra-short term. [B]Resistance levels[/B]: 112, 114.09, 116, 120 | [B]Support levels[/B]: 109, 106, 102.57, 100 [img]https://i.ibb.co/LdsxJZw/oil-2.png[/img][/JUSTIFY] [/QUOTE]
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