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oil industry

US oil may rise to $64.24
Markets

US oil may rise to $64.24

  • On the daily chart, oil is heading towards $64.12, a break above which could open the way towards $66.65, the Jan. 8, 2020 high.
Published 28 Apr, 2021 10:45am
US oil may rise into $59.95-$60.50 range
Markets

US oil may rise into $59.95-$60.50 range

  • A triple-bottom could be developing around $57.50. It will be confirmed when oil goes above $62.27. Even if this pattern turns out to be a flat consolidation within a range, oil is still likely to rise towards $62.27.
  • A break below $57.88 will be a very bearish signal that the downtrend from $67.98 could have resumed towards $51.64-$55.50 range.
Published 06 Apr, 2021 11:11am
Oil rises as OPEC+ decides on production policy
Markets

Oil rises as OPEC+ decides on production policy

  • OPEC+ reaches preliminary deal to raise output from May –sources.
  • OPEC+ still has deep production cuts in place.
  • New pandemic waves creates uncertain demand outlook.
  • Euro zone factory activity soared in March.
Published 01 Apr, 2021 09:04pm