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Attention to OPEC & Russia meeting for oil prices

Attention to OPEC & Russia meeting for oil prices

Oil prices remain under negative pressure from rising production figures. Oil prices, which can not rise despite OPEC’s supply interruption, are disturbing oil producing countries. Today, OPEC members and Russia’s St. It is expected to participate in the global petroleum market assessment meeting to be held in St. Petersburg. Here, future messages about the oil market may have an impact on prices. In addition, Russian Energy Minister Alexander Novak said in an interview with the Financial Times newspaper that Nigeria and Libya should join the OPEC supply disruption agreement. For this reason, it is useful to pay attention to possible price movements from presentations coming from today’s meeting.

 

Technical Analysis: US crude oil, which can not follow a strong course on the level of $ 47.00, is currently on a support level of $ 45.50. While the uptrend of crude oil is seen as a resistance at $ 46.60 in the first place, it needs to settle for $ 47.00 for a strong acceleration. On the other hand, there are support levels of $ 45.50 and $ 44.45 below.

 

Resistance: 46.60 / 47.00 / 48.50

Support: 45.50 / 44.45 / 43.30

Technical Analysis: Brent oil is experiencing returns from critical resistance levels. Brent crude, which did not reach $ 50.00, continued its downward movement to $ 48.00. Brent, which is shaped on momentum momentarily, faces a downward trend of 47.80 / 46.60 as support points. On the other hand, we are monitoring critical resistances above 48.50 / 49.20 and $ 50.00.

 

Resistance: 48.50 / 49.20 / 50.00

Support: 47.80 / 46.60 / 45.35

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