August 16th

USDCNH Sell position
Support levels: 6.7720 – 6.7540
Resistance levels: 6.8270 – 6.8450

#BRENT Buy position
Support levels: 91.44– 90.08
Resistance levels: 94.37 – 96.79

🛢OPEC Secretary General Al-Ghais warns of the risks of an energy crisis. The free mining capacity of the OPEC+ countries is at a minimum, and the demand for black gold is growing steadily in Q4. indicator will update the historical maximum. Concerns about a slowdown in consumption in China due to a new coronavirus outbreak have been exaggerated.

🤵‍♂️“Chronic underinvestment for several years is really what's taken us to where we are today,” said Haytham al-Ghais.

👉Investment idea: buy limit #BRENT 93.75, take profit 95.11.

🛢OPEC+ is almost 3 million barrels per day behind its production target.

🧮The gap between the total quota and the actual oil production of OPEC+ members has been growing for more than a year, which is favorable for the growth of oil prices.

📈We expect black gold to rise to the nearest strong resistance level of 98.44.

👉Investment idea: buy limit #BRENT 96.40, take profit 98.44

🛢The American Petroleum Institute reported a reduction in black gold reserves in US storage facilities by 5.6 million barrels.

📉Commercial oil reserves in the United States are at a seven-year low, and the strategic oil reserve has fallen to 1985 levels. Reduction of reserves is favorable for the growth of oil prices.

👉Investment idea: buy limit #BRENT 99.05, take profit 101.38

August 25th

USDCNH Buy position
Support levels: 6.8370 – 6.7590
Resistance levels: 6.9210 – 7.0000

#BRENT Buy position
Support levels: 100.88 – 99.57
Resistance levels: 102.08 – 103.36

#brent #wti

🛢Brent crude has been making new lows since August 22 and is quoted at $94.

☝️ Pressure on the hydrocarbon market is exerted by concerns about global economic growth, which may lead to a reduction in demand for fuel. The main driver of market sentiment deterioration was weak Chinese statistics. In particular, China's Manufacturing PMI fell to 49.4 in August, indicating a downturn in manufacturing in the world's second-largest economy.

😱 In addition, investors are alarmed by the introduction of new quarantine restrictions in the Shenzhen province, where a number of large industries are concentrated, which could also negatively affect oil demand.

📉Analysts recommend shorting Brent with a target of $90 per barrel.

#brent #wti

🛢Нефть марки Brent обновляет минимумы с 22 августа и котируется на уровне $94.

☝️Давление на рынок углеводородов оказывают опасения относительно мирового экономического роста, что может привести к сокращению спроса на топливо. Основным драйвером ухудшения рыночных настроений выступила слабая китайская статистика. В частности, индекс деловой активности производственного сектора Китая в августе снизился до 49,4, указывая на спад в промышленности во второй по величине экономике мира.

😱Кроме того, инвесторов настораживает введение новых карантинных ограничений в провинции Шэньчжэнь, где сосредоточен ряд крупных производств, что также может негативно повлиять на спрос на нефть.

📉Аналитики рекомендуют шортить Brent с целью $90 за баррель.

September 9th

GBPUSD Buy position
Support levels: 1.1574 – 1.1490
Resistance levels: 1.1639 – 1.1712

#BRENT Buy position
Support levels: 88.60 – 87.53
Resistance levels: 90.23 – 91.40

🛢OPEC+ discusses production cuts of 1 million barrels per day at a meeting on October 5.

📉At their last meeting on September 5, the OPEC+ countries agreed to reduce production by 100,000 barrels per day.

📈If production cuts are agreed, the oil market will get a good boost for growth. Traders will now begin to win back this event, and on October 5, growth may accelerate.

👉 Investment idea: buy limit #BRENT 87.07, take profit 89.57

📣Bloomberg has voiced the hypothesis of an increase in the shortage of oil in the world market, and we fully agree with this.

1️⃣At the last OPEC+ summit, it was decided to cut oil production by 2 million b/d. Two million barrels a day is in theory, in practice the reduction will be half as much, since many countries produce oil below the previously agreed quotas.

2️⃣An additional impact on the supply deficit will be the United States, which will buy black gold in its strategic reserve from November. The American strategic reserve has lost weight to a minimum since 1984 - the States are actively supplying oil to the market in the hope of reducing the cost of energy resources before the November 8 congressional elections. After the elections, the US will begin to replenish its strategic reserve.

👉 Investment idea: buy limit #BRENT 92.40, take profit 95.37.

🇺🇸The US oil strategic reserve has fallen to 405 million barrels, which is the lowest level since June 1984!

🛢The US Department of Energy will soon have to replenish stocks, which will increase demand for hydrocarbons and positively affect oil prices.

👉 Investment idea: buy limit #BRENT 90.82, take profit 92.60

October 21th

#BRENT Buy position
Support levels: 90.05 – 88.95
Resistance levels: 91.47 – 92.60

XAUUSD Sell position
Support levels: 1610 – 1601
Resistance levels: 1624 – 1637

October 28th

#BRENT Buy position
Support levels: 92.98 – 91.74
Resistance levels: 95.37 – 96.40

GBPUSD Buy position
Support levels: 1.1503 – 1.1417
Resistance levels: 1.1590 – 1.1661

🛢New OPEC+ quotas begin to operate from today, according to which production should be reduced to 41.85 million bpd. These quotas will be valid until the end of the year, which is favorable for the growth of oil prices.

👉 Investment idea: buy limit #BRENT 93.35, take profit 94.28.