The future of oil is still very uncertain – proiezionidiborsa.it
Last week we were left with the fear that a failed deal on US debt could lead to the default of the world’s strongest economy in ways one could imagine. On this wave of pessimism, in the first session of the week the quotations fell well below the limit of $70. However, after Congress passed a debt ceiling deal that avoided a government default in the world’s biggest oil consumer, and jobs data fueled hopes of a possible pause in interest rate hikes by the Federal Reserve, the United The United States reassured the markets and oil began to rise. re. Suffice it to say that the price of black gold has exploded to the upside, rising more than 7% from lows. Downside danger? Answer in the next section.
The United States reassures markets and oil starts rising again: how far can it go? signals for graphic analysis
petroleum It closed the June 2 session at $71.74, up 2.34% from the previous session. The week closed with a decline of 1.28% compared to the previous weekly close.
daily deadline
With the strong recovery of the last two seasons, Oil prices reversed to the upside as shown in the picture, However, the downside risk is not over yet. Indeed, as can be seen from the graph, The prices are very close to the $70.96 level which represents the intersection between the top and bottom.
So, watch carefully for the next few sessions to see what might happen near this level. Growth can develop according to the levels shown in Fig. However, on the downside, the price could reach the support near the $50 area.
The signals coming from the indicators on the price of oil are controversial – proiezionidiborsa.it
weekly deadline
on weekly The bias is bearish and the picture shows key levels, However, already as a daily, there is a level that represents The watershed passes between the top and bottom and through the $71.95 area, Hence, watch carefully for the next few weeks to see what could happen near this level.
Oil indicators are all set for bearish – proieziionidiborsa.it
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