WTI Crude Oil F...จาก Sally-vt

WTI Crude Oil Futures (Oct) Oil retreated after the EIA crude oil inventories data The U.S. Energy Information Administration (EIA) reported that crude oil inventories rose 2.03 million barrels in the week ending September 4 (-1.96 million barrels expected) to 500.4 million barrels. U.S. crude oil inventories are about 14% above the five year average for this time of year. #forextrading #forextrader #forex #forexstrategy #forexmoney #forexmarket #forexlifestyle #forexsignals

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Saudi Arabia cut the September oil prices to Asia and Europe for the first time in four months But left prices for U.S. buyers unchanged keeping exportation toward this region near historical low level At the same time, Bloomberg reported Crude imports into China dropped in July to 51.29 million tons from 53.18 million in June Later on Friday, Baker Hughes will report the oil rig counts for the U.S. and Canada Crude oil prices remains under pressure Let's have a look at the intraday picture From a chartist point of view, prices are drawing a consolidation within a declining channel With current upper boundary at 42.15 acting as a key resistance

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The world’s biggest crude exporter, Aramco announced capital expenditure for 2021 will be “significantly” lower than guidance ($40-45 billion) according to Aramco’s CFO Yet, Aramco can pump at max capacity for 1 year with no additional spending needed Later today, API will release U.S. oil stockpile change data for August 7. Last week the API reported the biggest decline in almost a year From a chartist point of view, prices are supported by an intraday rising trend line currently at 42 In addition, the 20 and 50-period moving averages crossed upward and are supporting prices The RSI remains bullish above its signal line A continuation of the rebound towards 42.65 and 42.95 is expected Alternatively, below 42, look for a return on 41.55 #forextrading #forextrader #forex #forexstrategy #forexmoney #forexmarket #forexlifestyle #forexsignals

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Crude oil is declining on decreasing U.S. oil production The U.S. EIA reported that for the week ended July 31, U.S. commercial crude oil inventories decreased by 7.4 million barrels to 518.6 million barrels This decline came after a 10.6 million decline the previous week Meanwhile, U.S. oil production declined to 11.0 million barrels/day from 11.1 million barrels/day Crude oil prices reversed down following that release Let's have a look at the intraday picture Prices failure to accelerate above the 43 key resistance area is a sign of weakness The 20 and 50-period moving averages crossed downward While the RSI is below the 50% area and below its signal line Look for a correction towards 41.1 and the support base at 40.5 Only a push above 42.45 would lower the immediate corrective risk and favour a rebound towards August top area

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