US crude oil futures prices reacted to the anticipated downward trend highlighted in the previous analysis. The scenario relied on trading stability below the key resistance level of 68.60. As expected, an upward move and stability above 68.60 negated the bearish outlook, resulting in a price increase to $69.08 per …
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US crude oil futures attempted to move higher in the previous session, challenging the pivotal resistance level of 68.60 and reaching a peak of $68.85 per barrel. Technically, analysis of the 240-minute chart suggests that negativity prevails due to sustained downward pressure from the simple moving averages. Additionally, the price …
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Oil prices rose by more than 1% on Monday, supported by expectations of economic stimulus from China and geopolitical developments in the Middle East. China’s Policy Shift Spurs Optimism Brent crude futures climbed 94 cents, or 1.32%, to $72.06 per barrel by 0852 GMT, while U.S. West Texas Intermediate (WTI) …
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US crude oil futures prices continue their bearish trajectory, aligning with the previous negative outlook. The price reached the official target at 67.00, recording a low of $67.05 per barrel. Technical Analysis: 240-Minute Chart Observations: The simple moving averages maintain downward pressure. The 14-day momentum indicator shows strong negative signals, …
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Oil prices softened on Friday, reflecting persistent market concerns about a looming supply surplus in 2025, even as OPEC+ extended its production cuts through the end of 2026. Brent crude futures dipped by 0.9%, trading at $71.43 per barrel, while US West Texas Intermediate (WTI) fell 1% to $67.65 per …
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US crude oil futures demonstrated the anticipated upward trend outlined in the previous technical report, supported by trading stability above the key level of 68.90. Technical Analysis: Bearish Indicators: The simple moving averages apply continued downward pressure. The 14-day momentum indicator reflects clear negative signals, favoring a bearish outlook. Scenario …
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Oil prices declined on Wednesday as investors braced for a likely extension of production cuts by the OPEC+ alliance. While a significant drawdown in U.S. crude inventories offered some upward pressure, the market’s attention remained firmly fixed on the upcoming OPEC+ meeting. The organization is expected to extend its production …
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US crude oil futures displayed bullish attempts in the previous session, reaching a high of $70.20 per barrel. From a technical perspective, the outlook remains positive, supported by the bullish crossover of simple moving averages that align with the daily upward trajectory. Furthermore, the price stability above the key support …
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US crude oil futures closed last week’s trading on a positive note, reaching a high of $71.47 per barrel. From a technical standpoint, the outlook remains optimistic, supported by the price’s ability to stabilize above the key support level of $70.60. Additionally, the RSI is showing attempts to gain further …
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US crude oil futures have shown a strong upward momentum, crossing a key resistance level at 68.65, signaling a shift toward a potential bullish trend. Technical Analysis Overview:On the 240-minute chart, the technical setup is promising, with the 14-day momentum indicator attempting to generate positive signals. Furthermore, the 50-day simple …
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