Overall view of WTI Crude Oil - Analysis of August 26th's Week

Fundamental: The biggest concern for traders is the escalation of the U.S.-China trade dispute that will likely lead to further downward revisions in U.S. and global oil demand growth. Likewise, crude oil value is pegged to the US dollar meaning that any appreciation will favour a decline of the commodity prices, as same as a depreciation drives prices higher. Fears over slowing world growth denting demand for crude should ensure Oil prices remain depressed in the short to medium term.

Technical: Since the beginning of the month, the energy commodity rallies, fuelled by an increasing daily traded volume . After settling around the supply level , there was a subsequent bearish pressure and a willingness to push prices back to the demand level . The bearish move is sharp however shows some weakness with an increasing number of rejection bars.

Advice: Stay bearish and sell every high points while we don't break upside 55.000 Level, with a target @52.000.
Trade active: We already have a positive trade with a 1:1 profitability.
Trade closed: stop reached
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out