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asia oil

Asia markets swing as rate hike fears offset reflation trade
Markets

Asia markets swing as rate hike fears offset reflation trade

  • European indexes enjoyed a much-needed blast upwards -- led by a record close in Frankfurt -- after EU leaders pledged to double vaccine deliveries to 300 million doses between April and June, having been too slow out of the blocks in its immunisation programme.
Published 09 Mar, 2021 11:34am
Brent oil may fall to $61.09
Markets

Brent oil may fall to $61.09

  • The trend was driven by a wave C, which is roughly equal to the preceding wave A. This equality suggests a reversal of the uptrend from the April 22, 2020 low of $15.98.
Published 03 Mar, 2021 10:02am
US oil may test support at $59.08
Markets

US oil may test support at $59.08

  • Due to a small congestion area forming between Feb. 19 and Feb. 22, oil may fail to break $59.08 in its first attempt. A bounce could occur around this level.
Published 02 Mar, 2021 10:10am
Brent oil may retest support at $64.58
Markets

Brent oil may retest support at $64.58

  • This wave could either end around $66.29 or extend a lot to $85.17. Regardless of the ending point of this wave, a consolidation around $66.29 is ongoing.
Published 01 Mar, 2021 10:09am
Brent oil may rise into $65.96-$66.45 range
Markets

Brent oil may rise into $65.96-$66.45 range

  • On the daily chart, the uptrend towards the Jan. 8, 2020 high of $71.75 has resumed. A realistic target could be $67.50, the 486.4% projection level of an uptrend from $39.34.
Published 18 Feb, 2021 11:11am
US oil may retest resistance at $61.02
Markets

US oil may retest resistance at $61.02

  • A break below $59.91 could cause a fall to $59.38. The current wave count will be reviewed, if oil falls to this level. A break above $60.51 could signal the continuation of the uptrend.
Published 16 Feb, 2021 11:24am
Brent oil still targets $64.34
Markets

Brent oil still targets $64.34

  • The resistance at $63.85 triggered a shallow correction, which seems to have ended around a support at $63.04. The contract is poised to retest $63.85 and rise towards $64.34.
Published 16 Feb, 2021 11:21am