My trading idea for - #CrudeOil - BUY
Entry: 82.60 USD
Target: 90.00 USD (+8.5% profit)
#CrudeOil has risen to $85 per barrel due to #Opec production cuts.
Crude oil inventories are expected to decline in the second half of 2023 (source: energyintel.com/). Means also higher demand and higher prices.
In July alone, the price of oil rose by 13% - more than Saudi Arabia's 10% production cut. They have certainly made good profits and want to maintain this trend for as long as possible. I expect it to continue upwards until November.
#Brent is currently trading at October contracts. I expect prices to fall as we get closer to January 2024 contracts.
Entry: 82.60 USD
Target: 90.00 USD (+8.5% profit)
#CrudeOil has risen to $85 per barrel due to #Opec production cuts.
Crude oil inventories are expected to decline in the second half of 2023 (source: energyintel.com/). Means also higher demand and higher prices.
In July alone, the price of oil rose by 13% - more than Saudi Arabia's 10% production cut. They have certainly made good profits and want to maintain this trend for as long as possible. I expect it to continue upwards until November.
#Brent is currently trading at October contracts. I expect prices to fall as we get closer to January 2024 contracts.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.