East Of Seattle
No Result
View All Result
  • Login
  • Entertainment
  • Headlines
  • News
  • Movies
  • Lifestyle
  • Blogging
  • Business
  • Health
  • Jobs
  • Politics
  • Entertainment
  • Headlines
  • News
  • Movies
  • Lifestyle
  • Blogging
  • Business
  • Health
  • Jobs
  • Politics
No Result
View All Result
East Of Seattle
No Result
View All Result
Home News

Buying or selling oil in the next few sessions?

Ajeet Nandwal by Ajeet Nandwal
August 27, 2022
Reading Time: 2 mins read
0
Buying or selling oil in the next few sessions?

[ad_1]

Difficult week for the price of oil which has undergone sudden changes of course. Oil prices, in fact, closed higher on Friday, supported by signals from Saudi Arabia that OPEC could cut production. However, trading has been volatile, with investors first metabolizing and finally shaking off the US Federal Reserve chief’s warnings about future economic difficulties.

But what to do for the future? Buying or selling oil in the next few sessions?

Many market participants have the following scenario in mind for the near future.

The impression remains that Saudi Arabia is unwilling to tolerate any drop in prices below $ 90. Speculators might see this as an invitation to bet on further price increases without having to fear more marked falls.

Meanwhile, last week’s indication could be a good time to buy oil on the commodities market, turned out to be correct.

Table of Contents

  • Buying or selling oil in the next few sessions?
  • The key levels to monitor on the daily and weekly time frame
    • RELATED POSTS
    • Biden sends greetings to Buddhists across the world on Vesak
    • IWL: Mata Rukmani FC to face Gokulam Kerala FC on Sunday
    • US Special Coordinator for Tibetan Issues Uzra Zeya to visit India, Nepal from May 17-22

Buying or selling oil in the next few sessions?

The Petroleum (price in real time) closed the session on August 26 at 93.06 dollars, up by 0.58% compared to the previous session. The week ended with a 2.95% rise from the previous weekly close.

The key levels to monitor on the daily and weekly time frame

In the short term, the situation is very uncertain. As you can see from the graph, in fact, at the moment there are two projections, one bullish (solid line) and one bearish (dashed line).

On the upside, prices are blocked by the resistance area at 93.4 dollars, which in the past has already held back further price rises. On the downside, however, the support in the 92.2 dollar area is resisting the pressure of the bears. Only an external daily close at one of the indicated levels could give direction to the prices. The upward (solid line) and downward (dotted line) objectives are those indicated in the figure.

In the medium term, prices are frozen within the trading range of 86.20 dollars – 95.26 dollars. Only an external weekly closing at one of the two levels indicated could give direction to the prices.

The downward targets are those indicated in the figure. On the upside, however, a return to the 110 dollar area could be probable.

Buying or selling oil in the next few sessions?

Recommended reading

Stocks and stocks recommended by analysts

The results of the forecasts in this article are based on statistical calculations explained in the ebooks published by ProiezionidiBorsa and processed on the basis of the available price history. (We also remind you to carefully read the warnings regarding this article and the author’s responsibilities, which can be consulted HERE”)

[ad_2]
This is Auto Posted article collected article from different sources of internet, EOS doesn’t take any responsibilities of this article. If you found something wrong in this article, please tell us.

RELATED POSTS

Biden sends greetings to Buddhists across the world on Vesak

IWL: Mata Rukmani FC to face Gokulam Kerala FC on Sunday

US Special Coordinator for Tibetan Issues Uzra Zeya to visit India, Nepal from May 17-22

Share30Tweet19
Ajeet Nandwal

Ajeet Nandwal

Related Posts

News

Biden sends greetings to Buddhists across the world on Vesak

September 14, 2022
News

IWL: Mata Rukmani FC to face Gokulam Kerala FC on Sunday

September 14, 2022
News

US Special Coordinator for Tibetan Issues Uzra Zeya to visit India, Nepal from May 17-22

September 14, 2022
News

Odisha Sports to face PIFA Sports in next IWL match

September 14, 2022
News

President Kovind meets Jamaican Leader of Opposition Mark Golding

September 14, 2022
News

Zeya’s Dharamsala visit crucial, dire need to preserve Tibetan culture before China wipes it out: ICT

September 14, 2022
Next Post

Ease of use, accessibility and configurability in a SaaS-based portal package

The important queries

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Kajala Masanja Biography, Age, Career, Education, Boyfriend, Net worth

Kajala Masanja Biography, Age, Career, Education, Boyfriend, Net worth

April 27, 2022

Back to school 2022: what teaching method will be adopted?

September 1, 2022

US: 6 killed, 24 injured in Illinois July 4th parade in Highland Park

August 29, 2022

Popular Stories

  • Over 80 Protesters Killed In Myanmar On Day Of Shame For Armed Forces

    Over 80 Protesters Killed In Myanmar On Day Of Shame For Armed Forces

    1134 shares
    Share 454 Tweet 284
  • The Family Man 2 Series Review

    1109 shares
    Share 444 Tweet 277
  • Introduce Your Parents to Web Series Through These Shows

    1011 shares
    Share 404 Tweet 253
  • If you love anime, you have to watch these 10 Animes!

    861 shares
    Share 344 Tweet 215
  • Top High Salary Paying Jobs in USA

    244 shares
    Share 98 Tweet 61
  • Privacy Policy
  • Fact Checking Policy
  • Ethics Policy
  • Corrections Policy
  • Ownership & Funding
  • Editorial Board

© 2022 East of Seattle - Your Information. Our Responsibility.

No Result
View All Result
  • Entertainment
  • Headlines
  • News
  • Movies
  • Lifestyle
  • Blogging
  • Business
  • Health
  • Jobs
  • Politics

© 2022 East of Seattle - Your Information. Our Responsibility.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In