Trends - asia oil - Business Recorder

Markets

Brent oil may retest support at $72.08

On the daily chart, oil fell far below a resistance at $73.50.

Published 18 Jun, 2021 10:34am

Markets

Brent oil may retreat into $72.08-72.71 zone

A projection analysis suggests a target of $70.75, which will be available when the target zone on the hourly chart is reached.

Published 17 Jun, 2021 10:49am

Markets

US oil may rise into $73.57-$74.99 range

Support is at $71.96, a break below which could cause a fall into a zone of $70.60-$71.28.

Published 16 Jun, 2021 11:08am

Markets

Oil gains as risk of Iran supply resumption recedes

Still, prices were off their highs earlier in the day, with US crude briefly dipping into negative territory.

Published 15 Jun, 2021 12:44pm

Markets

US oil may retest resistance at $71.96

A failure to break $71.93 may be followed by a pullback towards the triangle.

Published 15 Jun, 2021 11:36am

Markets

Brent oil may retest resistance at $73.80

Oil is testing a resistance at $73.50 (close to $73.80 on hourly chart), which is partially responsible for the shallow correction on Monday as well.

Published 15 Jun, 2021 11:32am

Markets

US oil may retreat to $69.96 before rising

However, a pullback towards the triangle has not occurred yet. This pullback could be a hidden mine to explode around $71.93.

Published 14 Jun, 2021 12:31pm

Markets

US oil may rise to $71.28

It is extending towards $75, as indicated by a bullish triangle.

Published 11 Jun, 2021 11:19am

Markets

Brent oil may retest resistance at $72.71

On the daily chart, the uptrend remains intact and is extending towards $75, as suggested by a confirmed wedge.

Published 11 Jun, 2021 11:15am

Markets

Oil falls as start of US summer driving season fails to lift fuel demand

Implied gasoline demand fell to 8.48 million bpd in the week to June 4, down from 9.15 million bpd from the week before, but up from 7.9 million bpd a year ago, EIA data showed.

Published 10 Jun, 2021 12:32pm

Markets

US oil may retreat into $68.51-$68.99 zone before rising

Wave pattern indicates the progress of a big wave C from $51.64, which may extend into a higher target zone of $79.68 to $84.47.

Published 10 Jun, 2021 11:22am

Markets

Brent oil may seek support in $71.38-$71.62 zone

Oil may take some time to fulfil these targets, as its rise is rather slow. Volatility may keep low over the next few weeks as well.

Published 10 Jun, 2021 11:18am

Markets

Asian markets mostly down as investors jostle before inflation, ECB

"Whilst the Fed reassures that this spike in inflation is temporary, policy makers will need to be out in their droves to calm the market."

Published 09 Jun, 2021 10:49am

Markets

Brent oil may test resistance at $72.71

Support is at $71.38, a break below could cause a fall into $70.41-$70.95 range.

Published 07 Jun, 2021 11:40am

Markets

US oil may retreat to $67.57 before rising

On the daily chart, oil has broken a triangle which suggests a target around $75.

Published 04 Jun, 2021 10:55am

Markets

Brent oil may retreat to $69.87

On the daily chart, the break above a resistance at $70.75 turned out to be invalid. The contact could be pulling back towards the uptrend trendline of a wedge.

Published 04 Jun, 2021 10:54am

Markets

US oil may rise into $69.96-$71.28 range

A break below $68.99, now a support, may cause a fall limited to $67.57.

Published 03 Jun, 2021 12:12pm

Markets

Asian markets rise ahead of jobs data but Fed taper talk builds

Oil prices also extended gains, fuelled by growing optimism that the reopenings and vaccine rollouts will lead to a surge in activity over the coming months and ramp up demand.

Published 03 Jun, 2021 11:14am

Markets

Philippine stocks lead Asia higher on upbeat US data, currencies slip

Recent remarks from Fed policymakers have suggested that a discussion on tapering bond-buying was underway, with the upcoming policy meeting in mid-June possibly providing more clarity.

Published 02 Jun, 2021 02:57pm

Markets

Brent oil may retest resistance at $71.38

Support is at $69.87, a break below which could cause a fall limited to $69.20.

Published 02 Jun, 2021 12:12pm

Markets

US oil may retest support at $66.11

A break, however, could signal the continuation of the wave C towards $71.28.

Published 01 Jun, 2021 11:42am

Markets

Brent oil biased to retest support at $68.66

If it occurs, the correction towards $66.29 could be the last retracement before bulls launch a major attack.

Published 01 Jun, 2021 11:38am

Markets

Brent oil may test support at $68.66

Because of this failure, the contract may experience the final correction before rising above a bullish wedge.

Published 31 May, 2021 11:37am

Markets

Brent oil may extend gains into $70.41-$70.95 range

A fall from the current level may be limited to the support zone of $68.78-$69.20. On the daily chart, oil is poised to break a resistance at $70.75 and rise to $73.50.

Published 28 May, 2021 11:46am

Markets

Brent oil may retest support at $68.08

On the daily chart, the consolidation from the March 8 high of $71.38 is being shaped into a wedge which looks like a bullish continuation pattern, to be followed by a rally.

Published 27 May, 2021 12:03pm

Markets

Brent oil may revisit May 18 high of $70.24

On the daily chart, the consolidation from the March 8 high of $71.38 is being shaped into a triangle which may be confirmed as a bullish continuation pattern, to be followed by a round of rally.

Published 25 May, 2021 11:23am

Markets

US oil may test support at $60.98

The contract has broken a support at $62.13. The next support will be at $60.98, around which a bounce may occur, as this support will be stronger than the one at $62.13.

Published 21 May, 2021 12:30pm

Markets

U.S. oil may rise to $64.71

In terms of duration or depth, the fall looks far from complete. Eventually, oil could drop to $62.13 again.

Published 20 May, 2021 01:02pm

Markets

Brent oil may bounce to $67.89

The pattern from the March 8 high of $71.38 may turn out to be double-top or a flat or a triangle. It is still too early to confirm any of them.

Published 20 May, 2021 01:01pm

Markets

Oil prices fall on rising COVID-19 infections in Asia, inflation fears

"The Fed's very serious (about holding rates low), but the market's speculating about earlier movement," he said.

Published 19 May, 2021 02:55pm