Tag Archives: Oil

Mixed trading characterized the movement of US crude oil futures contracts in the previous trading session, reflecting attempts to breach the key resistance level at 78.50. From a technical standpoint, intraday oil price movements indicate a temporary return to stability above 77.80, accompanied by the Relative Strength Index showing tentative …

During the previous trading session, US crude oil futures prices experienced significant gains as they breached the 78.50 level, advancing towards the upward target of 80.30, reaching a peak of $80.65 per barrel. Technically, we maintain a bullish stance, albeit cautiously, relying on the stability of oil prices above the …

US crude oil futures prices experienced a significant decline, relinquishing earlier gains and confirming the bearish outlook outlined in yesterday’s analysis. The prices touched the initial target of $77.70, reaching a low of $77.55 per barrel. Upon closer examination of the 4-hour chart, it is evident that the price remains …

The previous trading session saw mixed activity in US crude oil futures contracts, with prices touching the official target at $80.40 per barrel before retracing slightly. Technically, the resistance level at $80.40 exerted downward pressure on oil prices, prompting a temporary retreat. Currently, prices are hovering near the lower end …

Last week, the financial markets were shaped by significant data releases across several major economies, notably the United States and the eurozone. In the eurozone, data published by the European Statistics Office (Eurostat) on Friday indicated that the region’s annual harmonized consumer price index (HICP) rose by 2.6% in February, …

The recent trading sessions for US crude oil futures contracts showcased a positive trend, aligning with the anticipated bullish context and achieving the initial target set forth in the previous report at $79.25, with a peak at $79.60 per barrel. In today’s technical analysis, we maintain a positive outlook, albeit …

In yesterday’s technical report, we maintained a neutral stance due to conflicting technical signals, noting that consolidation of the price above $78.00 could pave the way for reaching $78.35 as the first target, with potential further gains extending to $79.20. American crude oil prices managed to peak at $78.95 per …

At the onset of this week’s trading, US crude oil futures contracts experienced a modest uptick, marking their peak yesterday in close proximity to the psychological resistance threshold of 78.00. From a technical standpoint, a scrutiny of the 4-hour timeframe chart reveals the resurgence of the 50-day simple moving average, …

A further depreciation of the US dollar enabled riskier financial assets to continue rising in the green, amidst persistent bets of a June interest rate cut by the Fed and before of important inflation data for the US (PCE) and the Eurozone’s CPI data. When measured by the USD Index …

US crude oil futures prices faced significant downward pressure towards the end of last week’s trading, failing to maintain stability above the crucial psychological barrier at $78.00. This development negated the anticipated positive outlook. In the previous technical report, we highlighted that breaching the support level at $77.35 would nullify …