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We need to break below 101 to confirm the short signal I posted on my WTI Crude Oil (see the related link).
CRUDE OIL was trading in a downtrend But then broke the falling resistance After is retested a support level at 95.30 I think that we will see a move up To retest the target above at 115.18
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...
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...
For the third week running, WTI Crude Oil made its highest weekly close in 7 years last week and printed a bullish outside bar which looks healthy and suggests a further rise to come. There are bullish signs, and I continue to see WTI Crude Oil as an interesting buy.
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...
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...
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...
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...
OPEC Agrees January 2022 Supply Hike Less than one month ago, WTI Crude Oil was trading at about $85 per barrel, which was a multi-year high price. Over the past three weeks the price descended rapidly from that high, and today extended that trend to approach the 6-month low price at $61.76. The pace of this downwards trend accelerated a few days ago with the news...
The West Texas Intermediate Crude Oil market has broken down a bit during the course of the session on Thursday but has seen a bit of buying pressure to test the 50 day EMA. The market is forming a bit of a hammer, and now that we have had a nice pullback, it does make a certain amount of sense that we would see this market continue to go higher. At that point, it...
The West Texas Intermediate Crude Oil market fell on Wednesday to reach down towards the crucial 50-day EMA. The 50-day EMA is an area that will continue to cause a certain amount of attention, but it should be noted that we have sliced through the $80 level rather easily. We are closing towards the bottom of the range for the day, so now the question is whether...
The West Texas Intermediate Crude Oil market has fallen rather hard to kick off the trading session on Thursday, but as you can see, we have rallied quite drastically to recapture the $82.50 region. By doing so, we ended up forming a bit of a hammer, which of course is a bullish sign. By doing so, I do think that it is only a matter of time before we continue to...