WTI Oil Price Recovers Quickly From March Lows On May 8, the price of WTI crude oil fell below $77 per barrel for the first time since March 11. But on the morning of May 10, it was above $79 – an increase of almost 3% in less than two days. Several factors contributed to the significant rise in the price of WTI crude oil. According to Reuters, among them: →...
Market Analysis: Crude Oil Price Recovers Crude oil is recovering and might rise toward the $81.20 resistance zone. Important Takeaways for Oil Price Analysis Today Crude oil is recovering losses and trading above the $78.55 support. There was a break above a connecting bearish trendline with resistance near $78.40 on the hourly chart of XTI/USD at...
The US crude oil benchmark is currently trading around $79.50 on Friday, marking a continued decline from its recent peak of $88.00. This downward trend is attributed to several factors, including rising crude inventories in the United States and diminishing expectations for interest rate cuts from the US Federal Reserve (Fed). The Fed's decision to maintain...
WTI oil (XTI/USD) is falling towards the pivot and could bounce to the 1st resistance. Pivot: 77.21 1st Support: 75.98 1st Resistance: 80.08 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please...
WTI oil (XTI/USD) is trading close to a pullback support that has been identified as the pivot. Could this commodity potentially bounce off this level to climb higher towards the 1st resistance? Pivot: 78.39 1st Support: 77.21 1st Resistance: 80.10 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade...
WTI oil (XTI/USD) is rising towards the pivot and could potential reverse to the 1st support. Pivot: 80.97 1st Support: 78.33 1st Resistance: 82.56 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please...
WTI oil (XTI/USD) is falling towards the pivot. Could this commodity potentially stall around this level before reversing to bounce higher towards the 1st resistance? Pivot: 79.26 1st Support: 77.21 1st Resistance: 80.89 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to...
WTI oil (XTI/USD) is falling towards the pivot. Could this commodity potentially stall around this level before reversing to bounce higher towards the 1st resistance? Pivot: 81.38 1st Support: 77.77 1st Resistance: 85.57 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to...
The WTI (West Texas Intermediate) crude oil market has shown resilience, staging a recovery subsequent to a pullback retracing between the key Fibonacci levels of 50% to 61.8% from the preceding major swing. Notably, the current price action exhibits a divergence pattern, notably intersecting with the levels of prior support. Moreover, a discernible confirmation...
Dear Traders, Hope you are doing great, US OIL still has high chances of touching the 90.00 region and beyond. Price made correction after rejecting at 87.00, price dropped to 80.00 from where we think price is likely to continue the bullish momentum. However, it is crucial to keep next week news in mind as well. Good Luck
WTI oil (XTI/USD) has made a bullish bounce off the pivot. Could this commodity potentially continue to climb towards the 1st resistance? Pivot: 83.17 1st Support: 81.86 1st Resistance: 85.42 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs...
Market Analysis: Oil Price Regains Strength Crude oil price is rising and it could climb further higher toward the $85.50 resistance. Important Takeaways for Oil Prices Analysis Today Crude oil prices are moving higher above the $82.00 resistance zone. There was a break above a connecting bearish trend line with resistance at $82.00 on the hourly chart...
WTI oil (XTI/USD) has made a bullish bounce off the pivot. Could this commodity potentially continue to climb towards the 1st resistance? Pivot: 81.86 1st Support: 80.62 1st Resistance: 85.42 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs...
WTI oil (XTI/USD) could fall towards the pivot which has been identified as an overlap support. Could this commodity potentially bounce off this level to climb towards the 1st resistance? Pivot: 80.96 1st Support: 76.53 1st Resistance: 87.22 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money...
WTI oil (XTI/USD) has made a bullish breakout through the pivot and momentum could carry it up toward the 1st resistance. Pivot: 84.86 1st Support: 81.01 1st Resistance: 87.77 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be...
Oil prices have once again surged, reaching nearly $88.00 per barrel, despite a recent minor decline. This uptick in prices is occurring amidst a backdrop of geopolitical tensions and a strengthening US Dollar. However, amidst this volatility, it's essential to dissect the various factors influencing oil prices, from geopolitical unrest to economic forecasts and...
WTI oil (XTI/USD) has bounced off the pivot which has been identified as a pullback support. Could this commodity continue to rise towards the 1st resistance? Pivot: 84.99 1st Support: 83.52 1st Resistance: 87.77 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose....
WTI oil (XTI/USD) is trading close to the pivot which has been identified as a pullback support. Could this commodity find support around this level before potentially reversing to rise towards the 1st resistance? Pivot: 85.57 1st Support: 83.22 1st Resistance: 90.40 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you...