Volatility is Increasing in Crude Oil

uk.investing.com/analysis/volatility-is-increasing-in-crude-oil-200566151

By Andrey Goilov | Mar 20, 2023 11:56

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The crude oil market remains turbulent. A Brent barrel on Monday again got under pressure and fell to 72.30 USD.

Over last week, crude oil quotes lost almost 12%, which makes 10 USD, a more than significant decline. The sales were triggered by problems in the US and European banking sectors. Fears about new increases in the interest rate by the CBs made investors flee from risks. The growth of the rates could worsen the banking crisis, and this is not a thing that many would enjoy.

The fundamental background for crude oil has not changed much. At the OPEC+ level they think that black gold prices will stabilise as soon as the financial shock is over.

Current crude oil prices quite agree with the parameters earlier set by the US administration for filling up strategic reserves. This driver could support the quotes.

On the H4 chart of Brent, the level of 78.38 has broken, and a wave of decline to 70.30 continues. The target is local. After it is reached, a correction to 78.30 is not excluded. Then the price might drop to 67.87. Technically, this scenario is confirmed by the MACD. Its signal line is below zero in the histogram area, which suggests a decline to new lows.

Brent forecast

On H1, Brent is developing a structure of a declining wave towards 70.27. The target is local. After it is reached, a link of growth to 78.28 might follow. Technically, this scenario is confirmed by the Stochastic oscillator. Its signal line is under 50 and is directed strictly upwards, right to 20.

Brent forecast

Disclaimer
Any forecasts contained herein are based on the author's particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

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Comments (1)

aditya chamoli Mar 20, 2023 14:13

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when it will increase..

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Central Banks

Interest Rates

Next Meeting

BOE

4.50%

Jun 22, 2023

ECB

3.75%

Jun 15, 2023

FED

5.25%

Jun 14, 2023

SNB

1.50%

Jun 22, 2023

RBA

4.10%

Jul 04, 2023

BOC

4.75%

Jul 12, 2023

RBNZ

5.50%

Jul 12, 2023

BOJ

-0.10%

Jun 16, 2023

CBR

7.50%

Jun 09, 2023

RBI

6.50%

Aug 10, 2023

PBOC

3.65%

BCB

13.75%

Jun 21, 2023

FTSE 100	7,562.36	-37.38	-0.49%
DAX	15,949.84	-40.12	-0.25%
Euro Stoxx 50	4,289.79	-7.89	-0.18%
S&P 500	4,298.86	+4.93	+0.11%
Nikkei 225	32,265.17	+623.90	+1.97%
Dow Jones	33,876.78	+43.17	+0.13%
FTSE 100 Futures	7,575.0	-31.5	-0.41%

Brent Oil	75.04	-0.92	-1.21%
Crude Oil WTI	70.35	-0.94	-1.32%
Gold	1,975.90	-2.70	-0.14%
Silver	24.395	+0.047	+0.19%
Copper	3.7710	-0.0240	-0.63%
London Cocoa	2,457.00	+43.00	+1.78%
London Wheat	172.55	-2.30	-1.32%

U.K. 10Y	4.2830	+0.0460	+1.09%
U.K. 5Y	4.2845	+0.0435	+1.03%
U.K. 2Y	4.5660	+0.0310	+0.68%
Germany 10Y	2.3735	-0.0065	-0.27%
U.S. 10Y	3.743	-0.002	-0.05%
U.S. 5Y	3.915	+-0.003	+-0.09%
U.S. 2Y	4.596	-0.008	-0.18%

Lloyds Banking	45.27	-0.07	-0.14%
Vodafone Group PLC	74.88	+0.73	+0.98%
Barclays	156.34	-1.26	-0.80%
BT Group	147.00	-0.55	-0.37%
HSBC	607.50	-3.50	-0.57%
BHP Group Ltd	2,380.00	+1.00	+0.04%
Exxon Mobil	107.39	-0.80	-0.74%

Volatility is Increasing in Crude Oil

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