Tag Archives: Oil

The US crude oil futures contracts have continued their upward trajectory, in line with the bullish forecast outlined in the previous technical report, reaching the initial target at $78.60 and peaking at $78.88 per barrel. From a technical standpoint, the prevailing sentiment remains positive, supported by the ongoing influence of …

The landscape of US crude oil futures contracts witnessed a blend of movements, oscillating between upward and downward trajectories in yesterday’s trading session. Notably, a robust support level near $76.40 acted as a formidable barrier, curtailing downward pressure and steering prices to a close near the $78.00 mark. Technical Analysis …

US crude oil futures experienced a notable rally in the previous trading session, nearing the first upward target mentioned in the previous technical report at $78.70. However, the price faced resistance and retreated, reaching a peak of $78.50 per barrel before encountering downward pressure. Technical Analysis Overview Examining the technical …

Russian Deputy Prime Minister Alexander Novak reaffirmed Moscow’s commitment to adhere to its quota within the OPEC+ agreement, despite a recent decline in oil refining. Novak’s statement, reported by the Russian TASS news agency on Tuesday, underscores Russia’s dedication to the collaborative effort led by the Organization of the Petroleum …

US crude oil futures experienced quiet yet positive trading during yesterday’s US market holiday, reaching its highest level at $78.52 per barrel. Technical Analysis Reinforces Upward Trend The technical outlook for oil prices remains unchanged, with trading continuing within an upward trend observed within the ascending price channel depicted on …

Official data has revealed a remarkable surge in tourism revenues in China during the Lunar New Year holiday, which concluded on Saturday, with a staggering year-on-year increase of 47.3 percent. This surge has not only surpassed 2019 levels but also underscored the robustness of domestic tourism amid an extended holiday …

In the pulse of the financial world, the spotlight of the past week fell squarely on key US economic indicators, particularly inflation data, igniting a flurry of activity and recalibration across markets. Inflation Insights Headline US inflation for January came in at 3.1%, a modest improvement that fell slightly short …

Support Holds Strong:The support level at 75.50, highlighted in the previous technical report, proved effective in halting the downward momentum of US crude oil futures prices. It is emphasized that the resumption of the downward trend hinges upon breaching this critical support level. Technical Analysis Insights:A closer examination of oil …

US Crude Oil Futures Reach Target Before Facing Resistance US crude oil futures prices surged to achieve the initial upward target as anticipated in the previous technical report, hitting a peak of $78.74 per barrel, surpassing the first milestone at $78.55. Technical Analysis Highlights: During the trading session, oil prices …

US crude oil futures maintained a positive trajectory in the previous technical report, reaching the target price of $78.10 and hitting a high of $78.44 per barrel. Technically, the outlook remains optimistic, with the price receiving consistent support from simple moving averages, contributing to an upward trend. Additionally, positive signals …