- News and analysis
- Oil Seems to Have Serious Troubles
Oil Seems to Have Serious Troubles
Few had expected such a rapid decline of oil prices. Prices dropped by 7% since the beginning of the week and continue to go down. They missed an expected target at $100 per barrel of Brent crude. This manifest weak demand for crude, and may result in serious troubles for the market. Moreover, I believe, it smells like a real downturn that I would happily join. Price are correcting to the support at $83.00-85.00 per barrel of Brent crude. If this level will be passed, prices could quickly dive further. I will track the $83.00 level to open short trades when prices will retest it. There are two downside targets of this possible trade at $75.00 per barrel and $65.00 per barrel. The stop-loss could be set at $97.00 mark.
The comments, insights, and reviews posted in this section are solely the opinions and perspectives of authors and do not represent the views or endorsements of RHC Investments or its administrators, except if explicitly indicated. RHC Investments provides a platform for users to share their thoughts on financial market news, investing strategies, and related topics. However, we do not guarantee the accuracy, completeness, or reliability of any user-generated content.
Investment Risks and Advice:
Please be aware that all investment decisions involve risks, and the information shared on metadoro.com should not be considered as financial advice. Always conduct thorough research, seek professional advice, and exercise caution when making investment decisions.
Moderation and Monitoring:
While we strive to maintain a respectful and informative environment, we cannot endorse or verify the accuracy of all user-generated content. We reserve the right to moderate, edit, or remove any comments or posts that violate our community guidelines, infringe on intellectual property rights, or contain harmful content.
By submitting content to metadoro.com, users grant RHC Investments a non-exclusive, royalty-free license to use, display, and distribute the content. Users are responsible for ensuring they have the necessary rights to share the content they post.
To maintain a positive and respectful community, users are expected to adhere to the community guidelines of Metadoro. Any content that is misleading, offensive, or violates applicable laws and regulations will be subject to moderation or removal.
Changes to Disclaimer:
We reserve the right to update, modify, or amend this disclaimer at any time. Users are encouraged to review this disclaimer periodically to stay informed about any changes.