logo |

資訊

    首頁   >     行業    >     GOLDWELL    >     正文

    GOLDWELL:Daily Market Recap – USOIL OPEC+ agreement and Delta variant cause prices to plunge

    摘要:Oil prices fell after OPEC and its allies agreed to end oil production cuts but also because the spread of the pandemic poses a risk to the strength of demand.

    Oil prices fell after OPEC and its allies agreed to end oil production cuts but also because the spread of the pandemic poses a risk to the strength of demand.

    The agreement is “better than no agreement” for the Organization of the Petroleum Exporting Countries and its allies - known collectively as OPEC+. A continued impasse on negotiations would have meant a disorderly increase in production and a fall in prices.

    The group has agreed to increase production by 400,000 barrels per day on a monthly basis starting in August, as it prepares to phase out production cuts of about 5.8 million barrels per day by September 2022.

    Negotiations on the production increase had previously stalled after the United Arab Emirates rejected the group's proposal for oil production cuts. This left the sector and investors in limbo, with experts warning that prices could either spike or crash without a deal.

    The problem is that the floodgates are being reopened just as a significant risk to demand is emerging due to the delta variant. The highly transmissible Covid variant, which has spread to more than 100 countries, is driving cases to record levels in several countries. In particular, Covid cases have rebounded in the United States, the world's largest economy, this month as the delta variant spreads among unvaccinated people. The U.S. is averaging nearly 30,000 new cases per day in the last seven days ending Friday, compared with an average of about 11,000 cases per day a month ago.

    The approach of the 2018 highs has caused profit-taking at first, which is turning into a correction on oil prices. Today's session is a long bearish marubozu that brings prices back to important support, right around the 50% Fibonacci retracement of the last bullish impulse around 66.50 USD. If this zone is broken, prices could return to a 61.8% Fibonacci retracement at USD 64 and towards the last market low at USD 61.55.

    image.png

    (Chart Source: Tradingview 19.07.2021)

    However, the medium-term trend remains positive above the 200-period moving average and the current downtrend is only a correction. We will therefore watch for any reversal pattern to reposition ourselves above this moving average.

    Disclaimer: This material has been created for information purposes only. All views expressed in this document are my own and do not necessarily represent the opinions of any entity.

    熱點資訊

    Hong Kong Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    當前匯率  :
    --
    請輸入金額
    Hong Kong Dollar
    可兌換金額
    -- United States Dollar
    風險提示

    外匯天眼資料均來自各國外匯監管機構的官方資料,如英國FCA、澳大利亞ASIC等,所公佈的內容亦均以公正、客觀和實事求是為宗旨,不向外匯交易平臺收取公關費、廣告費、排名費、資料清洗費等灰色費用。外匯天眼會盡最大努力保持我方資料與各監管機構等權威資料方資料的一致及同步性,但不承諾與其即時保持一致和同步。

    鑑於外匯行業的錯綜複雜,不排除有個別外匯交易商通過欺騙手段獲得監管機構的合法註冊。如WikiFX所公佈數據與實際情況有不符之處,請通過WikiFX“投訴”和“糾錯”功能,向我們提出,我們將及時進行核實查證,並公佈相關結果。

    外匯、貴金屬和差價合約(OTC場外交易)是槓桿產品,存在較高的風險,可能會導致虧損您的投資本金,請理性投資。

    特別提示,外匯天眼所列資訊僅供參考,不構成投資建議。外匯平臺由客戶自行選擇,平臺操作帶來的風險,與外匯天眼無關,客戶需自行承擔相關後果和責任。