Here we go again! Crude oil's super mega uptrend looks to continue! Last time we saw a trend like this was 2009, and it's a long time coming after the major declines in 2014.
Quick summary why I'm bullish in the next weeks:
1. Overall bullish trend
2. Consolidate and form a higher low
3. Failed breakout lower, breakout higher
My next target is 75.50, and if we...
As mentioned in the latest analysis, our LONG target was 65.25 – 65.50 region.
Then we followed the bearish harmonic pattern, and our second target was 64.06. Price reached the second target and reacted. – 110 pips were not bad –
We tried to explain the bullish and bearish fundamentals of Crude Oil.
The main trend is bullish.
Intraday Levels to keep eye on...
XOP appears to be looking to re-test the top of a massive wedge. Looking for contact around $38.50. Crude prices are providing a massive tailwind, I think we see $60 crude by December and $XOP will follow to the upside.
"Crude oil prices settled higher on Thursday as ongoing Opec and non-Opec output cuts, fuelled expectations that global oil market rebalancing was underway.
Saudi Arabia continued to cut oil output as inventories declined significantly in October, Saudi Energy Minister Khalid Al-Falih said Thursday while compliance with the Opec-led accord to curb...
Oil prices jumped about 2 percent on Friday, with global benchmark Brent crude rising above $60 per barrel, on support among the world’s top producers for extending a deal to rein in output and as the dollar retreated from three-month peaks.
Saudi Arabia and Russia declared their support for extending an OPEC-led deal to cut supplies for another nine...
Oil prices were largely steady on Wednesday, hovering near a four-week high hit a day earlier after top exporter Saudi Arabia said it was determined to end a supply glut.
Brent crude, the global benchmark, was up 8 cents at $58.41 a barrel by 0437 GMT, after settling on Tuesday up 96 cents, or 1.7 percent. U.S. West Texas Intermediate crude was...
This is a follow up to my crude medium term idea (please see the related idea link below to view the original idea), So far buy orders were filled at 49.22 for a target to 53.94, momentum looks to be slowing and it is likely that we may see a dip, to me dips will be good opportunity to build the position. So i am still holding my bullish stance on crude.
Oil prices rose on Wednesday, lifted by a fall in U.S. crude inventories and concerns that tensions in the Middle East could disrupt supplies.
Brent crude futures (LCOc1), the international benchmark for oil prices, were at $58.27 at 0314 GMT, up 39 cents, or 0.7 percent from their last close – and a third above mid-year levels.
U.S. West Texas...
Crude oil prices settled higher on signs of bullish Chinese demand while geopolitical uncertainty in the Middle East raised the threat of supply disruptions.
Chinese crude imports rose by roughly 1 million barrels per day (bpd) to 9 million bpd in September, data showed on Friday. That eased investor concerns that global demand is set to weaken over the next...
CRUDE OIL: The commodity is building up on its Tuesday gains as it eyes it key resistance residing at 49.39 zone. On the downside, support resides at the 48.00 level where a break will expose the 47.50 level. A cut through here will set the stage for a run at the 47.00 level. Further down, support resides at the 46.50 level. On the upside, resistance resides at...