Oil prices are experiencing moderate growth today. EIA data on oil and oil products reserves, published yesterday, continue to support the quotes.
According to the report for the week, oil reserves in the country decreased by 7.37 million barrels, which is more than 2 times higher than the forecast level of -3.0 million barrels. Stronger data from the report somewhat eased investor concerns about US energy demand amid the spread of COVID-19. But overall, consumption remains well below pre-crisis levels. According to the US Transportation Security Administration, last week air passenger traffic was only 27% of last year's level.
The International Cruise Line Association, which represents cruise lines around the world, announced Wednesday that cruise lines operating in the United States will be suspended until at least October 31st.
The dynamics of the US dollar continue to exert a positive influence on the market, which fluctuates around two-year lows. All raw materials are becoming cheaper for investors.
The bullish trend remains relevant on the chart. Within the day, two important support levels can be distinguished - 42.10 and 41.50, at which the completion of the local correction and the resumption of the upward movement can be expected.
The main scenario - a decline to 41.50 and a renewed upward movement.
An alternative scenario - an upward reversal from the level of 42.10.
The current fundamental outlook is moderately positive. We are considering longs from the level of 41.50.
We are launching the long-awaited rewards program for all subscribers of our social networks – share posts with your friends and get money on your FortFS account as a reward! 🥇 The participants will get the following benefits: • Real money for reposts • The reward is available for withdrawal without restrictions • You can […]
Dear Traders, Make sure to receive $100 on your trading accounts only from the 20th to the 28th of August! No Deposit Bonus 100 USD is the best way to start trading and test all of the Company’s products! GET BONUS The bonus features: Withdrawal of up to 100 USD 75 lots of trading turnover […]