Here is our next video about Oil price update. Crude oil price currently sits around $104 per barrel as of 2:08pm GMT. The bearish trend since the beginning of June 2022 continues. Will crude oil stabilize in July 2022?
The oil price forecast has indicated that crude oil July price might find some support around the $100 psychological area.
On the other hand, the Biden administration plans to bring down U.S. fuel costs amid fears of a global economic slowdown, according to the crude oil news today.
President Joe Biden is expected to ask Congress to consider a three-month suspension of the 18.4 cents per gallon federal tax on gasoline and also ask states to suspend their fuel taxes.
Watch the full video for our take on Oil price forecast and a deeper insight into what to expect in the months ahead from our Crude oil price prediction. Drop us a line in the comments with your thoughts on Oil price latest news.
To be notified about the oil price prediction, subscribe to Capital.com, and click that notification bell.
00:00 Intro
01:21 Oil price extreme volatility
03:52 Oil support and resistance
04:18 Oil technical analysis
08:51 Recap
***
Explore trading and start investing with Capital.com.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83.45% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This video is for general information only and is not intended to provide trading or investment advice or any personal recommendations. The information in this video is indicative, and may become out of date at any given time.
Capital.com shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Any information relating to past performance of an investment does not necessarily guarantee future performance.
Please remember spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage, You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Invest only what you can afford to lose. These products may not be suitable for all clients, we therefore recommend that you seek independent advice and ensure you fully understand the risk involved before trading. You do not own, or have any interest in the underlying assets.
Professional clients can incur losses that exceed their deposits when spread betting and trading CFDs.
16 Comments
Hey David — great vid as always — this is what I see 2 way trade goin on — downside watch 104.86 100sma – 102.32 – 101.53 IF lost then 100.13 – 99.80 – 98.20 – 97.06 – 95.28 was the spike low on 4/25/22 – upside watch 105.63 21sma wkly – 106.40 – 106.82 – 107.05 the 50sma is at 109.69 Key RES level — now the 8sma crossed below the 21sma & is headed for the 50sma that will keep the price in comtrol – so right now 2 way trade / scalp & money in the pocket everyday —
crude official
Thank you david, can you also look to gold, why Gdx is losing his support of 30$? gold still above 1800$
Good evening sir my target if crude breaks 105 target will be around 94 93
Thank you David, great update as always!
A break below 90$ should send us in normal oil prices
It might just trade side ways for the next few months around this range since demand is up and oil companies aren't changing their need to help consumers with regulation doing nothing
Thanks a lot David !!
Thank you sir
Natural gas got me spinning for cover.
despite your stop out, the short position was right. I was wrong.. thought it was going higher as I commented on your last video. Will be interesting to see where things go. There seems to be a case for it to drop or rise lol.
Hi David, thanks for your thoughts on Oil. It's pretty calm and I'm quite impressed how clear your approach is considering how volatile Oil is as you said. I've been trading oil but more on the minute charts.
I have some questions and maybe if its something worth talking about, could you give your thoughts?
There's so many factors for oil.. the war, Opec, recession… Inflation, the China market not opening up, China and India buying Oil from Russia, announcements frmo the Fed or from Biden on Oil.. Would you step into the lava floor that is explaining how these affect oil and by how much.. Or does Oil do what it does.. or is it being manipulated or is it just unpredicatable with no clear reason
🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🇱🇰🇱🇰
finally the commodities have changed trend and bond yields falling, usd weakness
Seems strange to me oil and oil stocks dropped significantly in response to Biden's intention to try to suspend gas taxes for some duration. The gov. trying to make your product cheaper for the consumer by suspending some sales tax seems good for oil stocks. Maybe it's just a generalized worry about gov "help" always seems to backfire.
Thank you David! Great information as always. I do read about people grabbing multi-figures monthly as incomes in investments even in this crazy days in the market, any way or any pointers on how to make substantial progress in earning ? I would really appreciate.
My God that idiot president in the USA is such a dolt. That guy has the economic acumen of a pickled egg. A very dangerous person.