#brent #wti

🛢 WTI oil is being quoted near $89 per barrel, losing more than 5% since the beginning of the week.

📊The quotes were pressured by data on changes in US oil inventories: according to a report by the Energy Information Administration of the US Department of Energy (EIA), oil inventories increased by 4.4 million barrels last week, which clearly indicates a decrease in demand in the US market.

☝️In addition, market participants fear for the prospects for global economic growth against the backdrop of ongoing tensions in Eastern Europe, the deterioration of US-China relations and new anti-COVID restrictions in the Asia-Pacific region.🧐

📉Considering the above, there is a risk of a decrease in the cost of WTI to the region of $85.

August 11th

#WTI Buy position
Support levels: 90.33 – 89.46
Resistance levels: 92.01 – 93.14

EURUSD Buy position
Support levels: 1.0266 – 1.0202
Resistance levels: 1.0354 – 1.0412

August 31th

AUDUSD Buy position
Support levels: 0.6876 – 0.6827
Resistance levels: 0.6955 – 0.7030

#WTI Buy position
Support levels: 91.37 – 90.50
Resistance levels: 93.14 – 94.02

#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.

🛢The depletion of the US oil reserve.

🇺🇸 US strategic oil reserves have fallen to 434.1 million barrels, the lowest level since 1984. The US is running out of strategic oil reserves faster than expected.

📈After the congressional elections, the White House will stop spending the reserve and start replenishing stocks, which is positive for oil prices. Traders are already starting to act out this scenario and are buying black gold.

👉 Investment idea: buy limit #WTI 88.01, take profit 89.25

🛢 Oil reserves in the US strategic reserve have fallen by a minimum since 1984.

📊 The strategic reserve is smaller than commercial crude oil reserves. The last time such a situation was observed more than 40 years ago, and then this event led to an increase in oil purchases in the strategic reserve.

The United States will increase oil purchases, which is favorable for the growth of oil prices.

👉 Investment idea: buy limit #WTI 77.08, take profit 78.76

🛢As part of the OPEC+ summit, an unexpected decision was made to cut oil production by 2 million b/d. At the beginning of the week, there were rumors in the market that the world's largest oil producers could cut production in November by 1 million b/d, but in the end we got a pleasant surprise.

🇸🇦The main reduction will be in Saudi Arabia, which will have to cut production by 0.52 million b/d..

👉Investment idea: buy limit #WTI 86.25, take profit 87.84

🇺🇸The US failed to reach an agreement with Iran on a nuclear deal and uphold sanctions against the Islamic Republic.

📈For oil prices, this is a positive signal, as earlier traders feared the return of Iranian oil to the world market after the lifting of sanctions.

👉 Investment idea: buy limit #WTI 91.01, take profit 92.25.

October 25th

#WTI Buy position
Support levels: 83.11 – 82.20
Resistance levels: 84.33 – 85.16

GBPJPY Buy position
Support levels: 167.77 – 166.90
Resistance levels: 168.84 – 169.48

November 11th

#WTI Buy position
Support levels: 86.60 – 85.54
Resistance levels: 88.20 – 89.44

USDCNH Sell position
Support levels: 7.0120 – 6.9350
Resistance levels: 7.1050 – 7.1630

The American Petroleum Institute reported a reduction in black gold reserves in US storage facilities by 6.4 million barrels. Commercial oil inventories in the United States have been declining for the fourth week in a row and are at a four-year low, which is favorable for rising oil prices.

👉 Investment idea: buy limit #WTI 73.80, take profit 75.55.

12 декабря

#WTI позиция Buy
Уровни поддержки: 70.71 – 69.32
Уровни сопротивления: 72.14 – 73.55

#SP500 позиция Buy
Уровни поддержки: 3891 – 3840
Уровни сопротивления: 3989 – 4043