Account

New to ADSS? Open an
account now to get started.

OR

Already have an account?

Add funds to your ADSS account

Account

New to ADSS? Open an
account now to get started.

Add funds to your ADSS account

Trends & Analysis
News

Oil spikes over 1% as Israel intensifies attacks

News

Gold surges amid US-Iran deal prospects

News

Dow hits record closing high on US-Iran peace deal hopes

News

Nvidia’s stock dips despite Q1 beat, strong forecast

News

CAD falls versus USD following inflation data

News

Gold rises as Trump postpones Iran attack

Trends & Analysis
News

Oil spikes over 1% as Israel intensifies attacks

News

Gold surges amid US-Iran deal prospects

News

Dow hits record closing high on US-Iran peace deal hopes

News

Nvidia’s stock dips despite Q1 beat, strong forecast

News

CAD falls versus USD following inflation data

News

Gold rises as Trump postpones Iran attack

Breadcrumb navigation close

Asset Watch

Is crude oil about to hammer the bears?

Thursday, December 1, 2022

With unrest in China increasing investors’ anxiety, crude oil has been in a downward spiral since early November. However, while recession fears have dominated recently, crude’s fundamental outlook may be more optimistic than the price action suggests.
For starters, the U.S. is the largest oil-consuming country in the world, and the Atlanta Fed projects that U.S. real GDP growth will hit 4.3% in Q4 (updated on Nov. 23). Therefore, with resilient economic output poised to boost oil consumption, crude’s recent sell-off may not reflect the supply/demand dynamics that could confront the market in the months ahead.
Second, Goldman Sachs reiterated its 2023 $110 Brent price target on Nov. 29, with Global Head of Commodities Jeff Currie noting that while “demand is probably heading south again in China given what’s going on,” the bank plans to “stick to our guns” as they think “there is a high probability that we do see a cut” from OPEC+ soon.

As a result, with sentiment driving the recent decline, support from OPEC+ could send the crude price in the opposite direction.

Likewise, the technicals are also accommodating, as crude recorded a hammer candle on Nov. 28, which means the price declined sharply intraday and then closed near the highs. Furthermore, seven of the last nine hammer candles resulted in short to medium-term rallies, while two instances were false signals and culminated with more weakness.

So, will the bulls win this battle, or are lower lows on the horizon?


© ADSS 2026


Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.

ADS Securities L.L.C – S.P.C (“ADSS”), a limited liability company – sole proprietorship company incorporated under United Arab Emirates law. Registered under Commercial License No.1190047. ADS Securities L.L.C S.P.C is regulated and authorised in the UAE by the Capital Market Authority (CMA) under Category 1 License No.305027 (Trading Broker, Trading and Clearing Broker, Trading Broker in the International Markets, Trading Broker of OTC Derivatives and Currencies in the Spot Market, Financial Products Dealer) and Category 5 License No.20200000217 (Introduction). Registered Office: 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.

The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.

ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.