flag-gb flag-my flag-zh flag-id flag-th flag-vi

WTI prices have surpassed the $61 level

The oil prices remain at the September highs due to the publication of positive industry statistics from the United States and the worsening situation in the Middle East.

 

On Friday evening, the US Department of Energy released data on oil reserves, according to which the level of reserves for the week fell by more than 5 million barrels, while experts expected a decrease of 1.7 million barrels.

 

Another important supporting factor for the market are the reports of US attacks on Hezbollah facilities in Syria and Iraq. This is a response to Hezbollah’s attacks on Iraqi military facilities, which killed four US military personnel. Investors anticipate worsening of US-Iran relations and increased tensions in the Middle East.

 

Bullish signals prevail on the chart. After the breakdown of the level of 60.00, the next target for the price movement was the level of 62.05. The goal has not yet been achieved, so in the near future we expect further development of the upward movement.

 

  • Resistance levels: 62.05 64.00, 65.00;

 

  • Support levels: 60.90, 60.00, 59.10.

 

The main scenario - an increase towards the level of 62.05.

 

An alternative scenario - a consolidation below 60.90 and a decline towards 60.00.

 

The fundamental outlook is positive. Within the daily framework, we consider longs from the level of 60.90.

 

Latest news

FortFS 10-year anniversary = 10% cashback

2020-06-30 08:40:55

To celebrate our 10-year anniversary we are going to provide a 10% compensation for every trading order closed at a loss to all Clients! PARTICIPATE IN THE PROMOTION TO GET THE MOST OUT OF TRADING WITH FORTFS: Compensation for every trading order closed at a loss Fully withdrawable without trading turnover requirements Compatible with deposit […]

+$500 FOR TRADING

2020-05-27 07:58:43

Trade and receive real money for each 10th completed lot USE THE BONUS AND GET THE FOLLOWING BENEFITS: Unlimited withdrawal Compatible with Megaprotect and Deposit Bonus Available for cents and swap-free accounts HOW TO GET BONUS? To have a valid trading account To maintain the minimum account balance of 100 USD Keep trading and receive bonus funds for […]