The bullish rally in the oil market | 23 August 2019

The bullish rally in the oil market


#Exxon:


We are expecting a bullish rally in the oil market, which will have a positive impact on the capitalization of oil and gas corporations. In 2019, oil demand is anticipated to grow by 1.10 mb/d year-on-year. Total oil demand for the year is now anticipated to reach 99.92 mb/d. For 2020, world oil demand is expected to grow by 1.14 mb/d, in line with last month’s projection OPEC. In 2019, non-OPEC oil supply is anticipated to grow by 1.97 mb/d y-o-y. USA is forecast to be the main growth drivers. Exxon is a leader in the American oil and gas sector!


Trading recommendation: Buy 67.74 and take profit 69.85.


The bullish rally in the oil market


#Boeing:


Washington and Beijing will hold telephone talks on trade issues this week. This is a positive factor for Boeing shares. The trade war between the USA and China may cause a decrease in orders for the products of the American aircraft manufacturer. D. Trump in an interview with journalists said that the trade war will be short. We are expecting the end of the trade war in November 2019, before the Christmas rally. Boeing will be able to increase the supply of products China that positive line will affect the capitalization of the business.


Trading recommendation: Buy 326.01 and take profit 333.16.


The bullish rally in the oil market


#Apple:


The U.S. Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.S. companies so that it can service existing customers. U.S. President Donald Trump and Chinese President Xi Jinping are expected to discuss Huawei in a call. The "temporary general license" will be extended for Huawei for 90 days. This is positive news for the American high-tech sector. Risk appetite returned somewhat across markets after the yield on the 10-year U.S. Treasury moved back above that of the 2-year note, reversing the inversion that some economists said flagged a pending recession. We are expecting a bullish rally in the corporate stocks of Apple.


Trading recommendation: Buy 205.80 and take profit 207.30.

 

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:

Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .