Oil Market Analysis


WTI Wave Analysis – 2 June, 2022
WTI Wave Analysis – 2 June, 2022
The downward reversal from the resistance level 115.00 created the Bearish Engulfing, which started the active minor corrective wave (iv).
Brent Wave Analysis – 11 February, 2022
Brent Wave Analysis – 11 February, 2022
Brent recently reversed up from the support area located between the key support level 90.00 (former resistance from January), 38.2% Fibonacci correction of the upward impulse (i) fr...
Natural gas Wave Analysis – 25 October, 2021
Natural gas Wave Analysis – 25 October, 2021
Natural gas continues to rises strongly after the price broke the daily down channel from the start of October (which enclosed the previous ABC correction (4)).
WTI Wave Analysis – 2 September, 2021
WTI Wave Analysis – 2 September, 2021
WTI crude oil recently broke the resistance zone lying between the resistance levels 69.10 and 70,00 (these levels have been reversing the price from the start of August).
WTI Wave Analysis – 23 August, 2021
WTI Wave Analysis – 23 August, 2021
WTI recently reversed up from the support zone set between the key support level 61.60 (previous monthly low from May), lower daily Bollinger Band and the 38.2% Fibonacci correction ...
WTI Wave Analysis – 19 August, 2021
WTI Wave Analysis – 19 August, 2021
WTI falling strongly today after it broke the support zone lying between the key support level 65.00 (which stopped the previous waves (a) and (i)) and the 61.8% Fibonacci correction...
WTI Wave Analysis – 29 July, 2021
WTI Wave Analysis – 29 July, 2021
WTI crude oil recently broke the resistance zone located between the resistance level 72.20 and the 61.8% Fibonacci correction of the earlier downward ABC correction 2.
WTI Wave Analysis – 21 July, 2021
WTI Wave Analysis – 21 July, 2021
The upward reversal from this support zone stopped the earlier short-term ABC correction 2 from the start of July.
Will Brent stand or sink to $60?
Will Brent stand or sink to $60?
On Monday, Brent fell more than 7% to $67.4 per barrel. The selloff took place on higher volumes and showed a frightening amplitude during the NY session. On Tuesday morning, the pri...
WTI crude oil Wave Analysis – 19 July, 2021
WTI crude oil Wave Analysis – 19 July, 2021
The breakout of the support level 70.00 accelerated the (c)-wave of the active ABC correction 4 from the middle of May.

Analysis of the Latest Oil Market Events

Oil is tangible and one of the most called-for commodities. USA, China and Japan are the largest consumers and importers of oil in the world. Any events and phenomena that trouble supply of “black gold” influence on its price on the oil market. Events such as weather conditions, war, terrorism, political disorders, and the decisions made by the Organization of the Petroleum Exporting Countries (OPEC) can cause its rise or fall in prices on the market. Oil trading refers to a variety of industries and, therefore, is often exposed to changes in the geo-political factors, as well as concerning the behavior of traders.

Oil Market and Analytical Standpoints Regarding this Kind of Market

The oil market is one of the most volatile, respectively, one of the most attractive in terms of investment. Although the trading of oil is a hard task, therefore, for a qualitative oil market’s analysis and oil’s rate is necessary to lend an attentive ear to the standpoints of the leading analysts of the market.

The crude oil technical analysis helps to determine total oil consumption, including the inventories, sales data and oil reports (EIA petroleum status reports). Traders can keep track of these reports and oil market news for better comprehension of the factors that affect the consumption of oil. Global oil market also has a direct effect on the Forex market by means of the germaneness with the dollar. This is due to the fact that the United States is one of the biggest breadwinners and consumers of this raw material. Change in the oil market price affects the intrinsic value of the dollar. In turn, the currencies that are in tandem with the U.S. currency, "look" on the dollar.

As far as oil is constantly taken into account in global business and trade, details that relates to its supply or distribution, will affect reliably the foreign exchange market, including the concomitant oil market analysis. That is why the terrorist attacks or natural disasters like Hurricane "Katrina" that threaten the regular supply of oil, often cause an immediate reaction of the Forex market.

Oil Market Analysis

The aforementioned events are something like shock to the market, making the oil forecast and analysis more difficult for the Forex market players. A more typical scenario usually consists of "fine" movements that occur in inter market relationships when oil trading, which only hint at the fact that the prices might change.

If the trader does not use inter market analysis, very likely he won’t be able to evaluate all these relationship, as well as the effects they exert on the markets, so long as this influence is not greatly substantially.

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