The West Texas Intermediate Crude Oil market initially rally during the trading session on Thursday to retest the 50 Day EMA and of course the previous uptrend line. Because of this, it looks as if the downtrend is intact, and I do think that it is probably only a matter of time before crude oil breaks rather significantly, perhaps reaching the $95 level early...
The West Texas Intermediate Crude Oil market has been all over the place during the trading session on Thursday, as traders continue to try to price in a bit of a premium for Russian aggression, and of course, the fact that most shipping companies will have nothing to do with transporting Russian oil, effectively taking 10% of the world’s inventory off-line....
For the fifth week running, WTI Crude Oil made its highest weekly close in 7 years last week and printed a relatively large bullish candlestick which looks healthy, closing very close to the high of its price range. This suggests a further rise to come, with the price perhaps being boosted by fears of war between Russia and Ukraine. There are bullish signs, and I...
The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Thursday as we have seen a lot of volatility in various markets. That being said, the market has rallied significantly during the course of the trading session, only to turn around and fall towards the $90 level. That being said, we did up forming a bit of a...
There's 2 scenario for WTI and i think green scenario is more likely,let's see..!
WTI Crude Oil For the fourth week running, WTI Crude Oil made its highest weekly close in 7 years last week and printed a relatively large bullish candlestick which looks healthy. The price closed within the top quarter of the candlestick’s range, suggesting a further rise to come despite OPEC’s continued production increases. There are bullish signs, and I...
A divergence between price and the RSI. Green line is minimum target. Looking at around 2.50 dollar drop.
Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current levels for sell.
The West Texas Intermediate Crude Oil market rallied a bit on Tuesday to show signs of life and break through a very short-term resistance barrier. We have not been able to sustain the move significantly, but it still looks as if we are going to get more bullish pressure. When you look at the chart, it does not take a lot of imagination to suggest that we have...
As we get back to work, traders will have to put money back on their books in order to take risk on, and crude oil certainly looks like it is a great candidate for something like that. With the 50 day EMA sitting just below the $75 level, that means that the $75 level has little bit more psychology attached to it than usual. Nonetheless, you can see that we have...
At the moment I sense oil is running bullish. 77 is resonating at my screen very soon. Lets see how this one plays.
WTI Crude Oil Outlook for January Speculative price range for WTI Crude Oil is 67.00 to 89.00 USD. If WTI falters below the 73.00 level and begins to challenge prices below 70.00 this may be perceived as a bearish sign in the market. Having touched the 66.00 level in the middle of December, some traders may feel the urge to test downward momentum of WTI Crude Oil...
Hello all, After a major breakout of the big rising wedge on 1D and 1W timeframes the oil price has been doing a correction. Now the price is reaching the previous structural ATH, which will possibly become a quite strong resistance. On the other hand, we can draw a bear flag pattern on 4H chart, which is a bearish AAD pattern to the long term rising wedge. Thus...
The West Texas Intermediate Crude Oil market rallied on Friday to capture the 50-day EMA. That is a very good sign and it looks as if we are ready to break out. That being said, we will have to see how this plays out due to the fact that there are a lot of questions as to whether or not the lockdowns are going to be an issue. At this point, it does not seem to be...
The West Texas Intermediate Crude Oil market has initially dipped a bit during the day on Thursday, only to turn around and show signs of life again. By doing so, it appears that we are threatening the 50 day EMA just above. This of course is an important technical indicator that a lot of people pay attention to, so do not be surprised at all to see a bit of a...
I’ve been watching the market shifting from yesterday to today’s movements, all pair are gaining against the US dollar. One of the is USDCAD, that pair made me smell the Oil rally. IMHO this is only the start of a morning where the press talks about it. Oil will rise and US will. Be red today. If you are there and believe my theory for today give me a thumbs up...
The West Texas Intermediate Crude Oil market initially tried to recover after a gap lower on Tuesday. However, the IEA has announced that the crude oil market has gone from a shortage to being oversupplied. That is a complete reversal from where we were, and this does suggest that perhaps we are going to see more negativity over the longer term. It is worth...
The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Thursday, only to break down rather significantly and show signs of extreme weakness. By doing so, the market looks as if it is probably going to test the 200 day EMA underneath, which currently sits at the $69.21 level. Whether or not we break down below there...