Trends - US oil - Business Recorder

US oil

US oil looks neutral in $59.64 to $60.94 range

On the daily chart, oil looks sideways in a wider range of $57.88-$61.74.

Published 13 Apr, 2021 11:14am

Markets

US oil remains neutral in $58.80-$60.04 range

The bias could be towards the downside, as a wave C from the April 6 high of $60.90 looks incomplete. It is expected to travel below the March 23 low of $57.25.

Published 12 Apr, 2021 10:04am

Markets

US oil neutral in $58.80-$60.04 range

On the daily chart, oil is stuck in a wider range of $57.88-$61.74.

Published 09 Apr, 2021 11:01am

Markets

US oil may retest support at $58.80

It is expected to break this level in its current attempt.

Published 08 Apr, 2021 12:54pm

Markets

US oil may test support at $58.80

Resistance is at $60.04, a break above which could lead to a gain into $60.44-$60.94 range.

Published 07 Apr, 2021 11:18am

Markets

Oil settles up over $2 despite OPEC+ production cuts

• OPEC+ still has deep production cuts in place • New pandemic waves create uncertain demand outlook NEW YORK:...

Published 02 Apr, 2021 04:58am

Markets

US oil may retest support at $57.88

Given that the support at $57.88 held firm on March 23 under a strong attack by bears, it may hold again and trigger a bounce this time.

Published 01 Apr, 2021 10:50am

Markets

Brent oil may fall into $61.05-$61.89 range

Resistance is at $63.98, a break above which may lead to a gain into $64.51-$65.83 range.

Published 01 Apr, 2021 10:47am

Markets

US oil may test resistance at $59.78

The bounce from $57.25 consists of three waves.

Published 26 Mar, 2021 11:39am

Markets

US oil may test support at $59.78

The first round of the bounce from $57.25 completed around a resistance at $61.35.

Published 25 Mar, 2021 11:41am

Markets

US oil may drop further into $55.99-$56.70 range

This wave is expected to end around the falling trendline, which establishes a support around $55.99.

Published 24 Mar, 2021 11:52am

Markets

US oil may retest resistance at $61.55

A correction from the March 8 high of $67.98 has completed, as its third component wave labelled c is roughly 1.618 times the length of the wave a.

Published 22 Mar, 2021 11:55am

Markets

US oil may retest support at $63.90

It could be too early to conclude that the uptrend has reversed, simply based on the consolidation.

Published 17 Mar, 2021 11:47am

Markets

US oil may fall into $62.58-$63.61 range

It must be noted that the uptrend remains steady, as a wave C is capable of travelling to $71.93.

Published 16 Mar, 2021 11:14am

Markets

US shale oil output to drop 46,000 bpd in April

NEW YORK: US oil output from seven major shale formations is expected to decline by about 46,000 barrels per day...

Published 16 Mar, 2021 04:43am

Markets

US oil may revisit March 8 high of $67.98

This wave is capable of travelling to $71.93.

Published 15 Mar, 2021 11:09am

Markets

US oil may test resistance at $65.98

The correction triggered by the resistance zone of $65.65-$66.60 may have ended. Oil is poised to retest this zone.

Published 11 Mar, 2021 10:56am

Markets

US oil may test resistance at $64.64

The drop from Monday high of $67.98 seems to be due to a resistance at $67.14.

Published 10 Mar, 2021 10:52am

Markets

US oil may test resistance at $65.92

Following its failure to break the resistance zone, oil is likely to succeed in its current attempt.

Published 09 Mar, 2021 10:46am

Markets

US oil may extend gains into $68.40-$68.77 range

On the daily chart, oil has cleared a resistance at $67.14, it may rise to $71.93, the 100% projection level of an upward wave C from $51.64.

Published 08 Mar, 2021 09:52am

Markets

US oil may retest support at $60.58

However, the uptrend will not be confiremd until oil breaks $63.81.

Published 04 Mar, 2021 10:13am

Markets

Oil rises on demand hopes after days of sell-off

"The recent selloff may help reinforce Saudi's cautious stance and delay any production increase," said Stephen Innes, global market strategist at Axi.

Published 03 Mar, 2021 10:47am

Markets

US oil may test support at $59.08

However, it is not very clear if the contract bounces towards $61.70 first, before breaking $59.41. Signals on the hourly chart suggests a small chance of the bounce.

Published 03 Mar, 2021 10:04am

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

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

Markets

US oil may revisit Feb. 26 low of $61.34

A realistic target range could be from $60.58 to $61.20. Resistance is at $63.05, a break above which could lead to a gain to $63.44-$63.81 range.

Published 01 Mar, 2021 10:12am

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

Markets

US oil may retest resistance at $62.78

Based on the drop from this high to the Feb. 19 low of $58.59, oil is supposed to rise to $65.61. A break above $62.08 could signal the continuation of the uptrend.

Published 24 Feb, 2021 10:12am

Markets

US oil may rise into $63.44-$64.15 range

On the daily chart, oil is rising towards the Jan. 8, 2020 high of $65.65.

Published 23 Feb, 2021 11:07am

Markets

US oil may test support at $58.64

Strategically, this target will be confirmed when oil breaks $58.55.

Published 22 Feb, 2021 10:24am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 23	278.40
USD PKR Interbank Buying / Apr 23	278.10
USD to Japanese Yen / Apr 23	154.85
USD to Swiss Franc / Apr 23	0.91
Pound Sterling to USD / Apr 23	1.24
Euro to USD / Apr 23	1.07

Stock	Volume
S&P 500 / Apr 22	5010.60
Nasdaq / Apr 22	15451.31
Dow Jones / Apr 22	38239.98
India Sensex / Apr 23	73884.02
Tokyo Nikkei / Apr 23	37552.16
Hang Seng / Apr 23	16828.93
FTSE 100 / Apr 23	8045.70
Germany DAX 30 / Apr 23	17967.18

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 19	21035
Gold 10 Grams PKR / Apr 22	213220
Petrol/Litre / Apr 23	293.94
Crude Oil USD/Barrel / Apr 23	82.41
Gold Spot USD/Ounce / Apr 23	2301.86
Diesel/Litre / Apr 23	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 23 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 23 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 23 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 23 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 23 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 23 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 23 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 23 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 23 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 23 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 23 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 23 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 23 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 23 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 23 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 23 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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