Today's daily analysis of Oil on June 18, 2021, will discuss the movement of Oil. Oil prices fell due to the impact after the FOMC meeting. The influence of Oil on the hawkish FOMC announcement meeting made Oil fall due to the strengthening of the US Dollar. The movement of oil in the market today, is expected to decline or still be in a bearish trend after the hawkish FOMC announcement on Thursday morning caused the US dollar to strengthen. The impact of the strengthening US Dollar also affects other pairs, besides that the cause of the decline in oil prices is also due to the incessant Covid-19 vaccination. The head of the Fed, "Jerome Powell" said that the Fed's agenda will be a reduction in bond purchases and an increase or increase in interest rates that will occur faster. The US dollar's continued strength correlates with the Federal Reserve meeting which was announced hawkishly on Thursday morning on its monetary policy. "Jerome Powell" who is the chairman of the Federal Reserve stated that there is a connection between economic development and the increase in Covid-19 vaccinations. With the increase in Covid-19 vaccinations, it has triggered the demand for Fuel Oil.

Oil Daily Analysis Prediction June 18, 2021

Today's prediction in OIL is expected to continue its decline, and the recommended OP (Open Position) is SELL at the level of 70.25. With a Target Profit (TP) of 10 – 20 points and a Stop loss (SL) of 5 – 10 points.
Preference BEARISH
Target Profit 1 70,15
Target Profit 2 70,05
Stop Loss 1 70,30
Stop Loss 2 70,35
This the daily analysis of Oil on June 18, 2021 which discusses the movement of Oil after the FOMC meeting. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.