What will happen? Intel, the US IT company, will present its earnings report for the second quarter on July 22 after the stock market closes (23:00 GMT+3)…
Oil: first signs of a long recovery
Information is not investment advice
Oil is trading higher for the second week. For how long?
The crude oil price is moving up due to many reasons. First of all, the market is hungry for risk because of optimistic US-China trade talks and reopening of economies all over the world. Also, the ease of lockdowns leads to more consumption and more demand. For example, gasoline consumption rose significantly in the USA. Moreover, factories are coming back to work and need more energy.
To everyone’s surprise, Saudi Arabia, the world’s largest oil exporter, set higher the oil price for June. The country claimed that its main interest is to bring back pre-crisis prices, stop competing for the market share and end the oil war.
Buyers, especially China, were quite disappointed by the Saudi pricing decision. The price was higher by $1.40 a barrel, while the $7.50 contraction had been expected. Now, the oil demand should rise strongly to support these high prices.
Some analysts have a genuine hope in the oil rebound, while there is still a massive glut on the market. According to Goldman Sachs, global oil demand is rapidly recovering and it may even surpass the supply by June. It’s hard to believe right now, but who knows.
Let’s look at the chart. The price is approaching the 25 mark after the recent low at 10.15. If it crosses the resistant line at 26.00, it may continue its rally to 29. The next resistant line is at 35. Support is at 20.00.
To trade WTI with FBS you need to choose WTI-20M in MT4.
What will happen? Twitter, the US IT company, will present its earnings report for the second quarter on July 22 after the stock market closes (23:00 GMT+3)…
EV’s market is going to explode in the 2020s By the end of 2020, there were 10 million electric cars registered in the world…
What happened? Brent returned to the rising channel on Wednesday by gaining 4% during the trading session…
When Twitter Inc. and Snap Inc. posted quarterly revenue that blew past analysts’ expectations, the results bumped up the shares of the two of their larger rivals: Facebook Inc. and Alphabet Inc.
EUR/USD managed to rise for a very short period of time right after the ECB decision to as high as 1.1798 before declining and giving away its entire gains.