• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
US President Trump: Our oil reserves are more than the next two largest oil-producing economies combined, and they are of higher quality.On April 11, Indonesian Foreign Minister Sujiyono stated in an interview that the China-Pakistan five-point initiative is a pragmatic measure to promote peace negotiations, achieve a permanent ceasefire, strengthen civilian protection, and normalize economic relations, and Indonesia welcomes it. Sujiyono said that since the beginning of the US-Israel-Iran conflict, Indonesia has called on all parties to immediately cease hostilities and return to the negotiating table to strive for a solution through means consistent with international law. The China-Pakistan five-point initiative prioritizes dialogue and diplomatic channels, which is conducive to creating the necessary conditions for achieving peace, stability, and security in the region and beyond. Recently, China and Pakistan issued a five-point initiative on restoring peace and stability in the Gulf and the Middle East, calling for a cessation of hostilities, the commencement of peace talks as soon as possible, and ensuring the safety of non-military targets, the safety of shipping lanes, and the primacy of the UN Charter.On April 11, sources revealed that the Bank of England plans to discuss the impact of Anthropics newly launched artificial intelligence model with financial institutions. British regulators are joining their counterparts in the US and other countries in warning of the risks posed by this tool. Anthropics Mythos model will be on the agenda of the Bank of Englands next Cross-Market Operations Resilience Group and CMORG Artificial Intelligence Task Force meetings, both scheduled for the next two weeks. The Federal Reserve and the Treasury have already held emergency meetings on the matter, and the Bank of Canada also met with banks and financial companies on Friday to discuss the cybersecurity risks posed by Mythos. These meetings reflect growing concerns among regulators that a new type of cyberattack is becoming one of the biggest risks facing the financial industry.Ukrainian President Zelensky: 175 Ukrainian soldiers and 7 civilians have returned home.On April 11, Iranian government spokesperson Mohammad Hajjerani stated that Irans dispatch of a diplomatic team led by Parliament Speaker Ghalibaf to participate in the US-Iran negotiations demonstrates Irans willingness to engage in dialogue. She emphasized that, as the Iranian president previously stated, Iran will negotiate with its "finger on the trigger." While Iran is willing to engage in dialogue, it lacks trust in the other side, therefore the Iranian diplomatic team will participate in the negotiations with the utmost caution. Hajjerani expressed hope that, under the guidance of the Supreme Leader, the Iranian negotiating team will achieve success.

WTI bulls near $92.00 resistance

Alina Haynes

Aug 19, 2022 11:53

101.png 

 

Black gold posted its highest daily gains in a month the day before, bouncing off the 61.8% Fibonacci retracement line of December 2021 to March 2022 upside, approximately $86.85 at press time.

 

The price stays below a convergence of the 21-DMA and a downward sloping resistance line from mid-June, $92.00. Stable RSI and sluggish MACD signals also show lack of rising momentum.

 

Before celebrating, crude oil purchasers should wait for a daily close above $92.00. After that, a run up to July's swing high above $101.00 is possible.

 

The important Fibonacci retracement level at $86.85 precedes the recent multi-month bottom around $85.40 to limit short-term WTI downside.

 

If energy bears keep reins below $85.40, the January 2022 high near $81.70 may act as an intermediate halt before sending prices to $80.00.