Will the consolidation continue as mixed signals of strength and weakness clash in the crude oil market [Ryuji Sato]
Ryuji Sato Profile
Sato Ryuuji. Born in 1968. After graduating from an American university in 1993, he joined a marketing company, then an information vendor for finance and investment, Genesis Co., Ltd. (later Oval Next Co., Ltd.). He has written analyst reports on macroeconomic analysis, foreign exchange, commodities, and stock markets, and has been involved in trading. In 2010, he started the company “H-Square Co., Ltd.”, writing analyst reports and planning/publishing works such as “FOREX NOTE Currency Handbook,” while also serving as a radio program host related to investing. He is a private trader. International Federation of Technical Analysts – Certified Technical Analyst. Main host on Radiko “The Money Dosato’s Market Forecast” (Mondays 15:00–).
Official site:Ryuji Sato Blog
※This article is a reprint/edit of an article from FX攻略.com October 2019 issue. Please note that the market information written in the body does not reflect the current market.
Reviewing price trends in the first half of 2019
Since late May, crude oil prices have generally been in a range around $50–60. This time, given the various bullish and bearish factors such as the US-China power struggle, the Iran issue, and the continued production cuts by OPEC+ (composed of OPEC member and non-member countries), we will consider which direction the crude oil market will break out from this two-month-plus consolidation.
