Scarica l'app
29 May 2025,07:23
Daily Market Analysis
29 May 2025, 07:23
Key Takeaways:
*Oil prices climbed after OPEC+ kept its output policy unchanged and Chevron halted Venezuelan crude exports.
*OPEC+ surprised markets by not increasing production; instead, it focused on setting 2027 output baselines.
*Chevron ended contracts in Venezuela, tightening expected supply.
Oil prices rose on Wednesday amid fresh supply concerns after OPEC+ opted to maintain its current output policy, defying earlier market expectations for a production hike. The organization also announced plans to set production baselines for 2027, with little room for most members to adjust near-term output.
Adding to supply pressures, the U.S. government barred Chevron (NYSE: CVX) from exporting Venezuelan crude, leading the company to terminate its production, service, and procurement contracts in the country. Although Chevron will maintain its local staff, the operational halt is expected to further reduce global crude supply.
These developments contributed to bullish momentum in oil prices, reinforcing market expectations of tighter supply in the near term.
Crude oil prices extended their gains after breaking above a key resistance level and completing a bullish breakout from an asymmetric triangle pattern, signaling continued upward momentum.
The MACD indicator shows increasing bullish divergence, with the MACD line crossing above the signal line, suggesting strong upward momentum remains intact. Meanwhile, the RSI stands at 65, indicating positive sentiment without yet reaching overbought territory—leaving room for further gains.
If prices can maintain their strength, the next resistance to watch lies at $63.90, with a potential extension toward $65.95 on sustained bullish pressure. However, failure to hold above the breakout level could prompt a pullback toward the immediate support at $62.20, with a deeper correction targeting the $60.00 level.
Resistance levels: 63.90, 65.95Support levels: 62.20, 60.00
Scambia forex, indici, Metalli e altro ancora a spread bassi e con un'esecuzione fulminea.
Registrati per un Conto Reale PU Prime con la nostra semplice procedura.
Finanzia senza fatica il tuo conto con un'ampia gamma di canali e valute accettate.
Accedi a centinaia di strumenti a condizioni di trading leader del mercato.
Piattaforme di trading
Imparare
Su PU Prime
Azienda
Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.
Thank You for Your Acknowledgement!
Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.
Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.
Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.
Thank You for Your Acknowledgement!
