Tag Archives: Oil

For the second session in a row, US crude oil futures prices found a strong resistance level around 88.00, which formed a negative pressure factor on the oil price to conclude yesterday’s trading around $87.55 per barrel. Technically, the simple moving averages do not support the daily upward curve of …

US stocks tumbled Wednesday morning as the price of oil hovered around a 10-month high after surging yesterday on Saudi Arabia’s production cuts.The Nasdaq was down 1.4% in the early afternoon, while the S&P 500 lost 1% and the Dow Jones Industrial Average fell 0.9%.Oil futures jumped more than 2% …

A noticeable surge in the prices of US crude oil futures contracts within the expected upward path, in which we relied on trading stability above the psychological barrier support floor of 85.00, touching the official target for yesterday’s session at 87.75, recording its highest level of $88.00 per barrel. Technically, …

US crude oil futures prices continue to form an upward attack within the expected bullish context at the end of last week’s trading, exceeding the required target of 85.30, recording its highest level of $86.10 per barrel. Technically, oil prices continue to receive a positive stimulus from the simple moving …

US crude oil witnessed a strong rise in futures prices within a positive outlook, as we expected, touching the official target of the previous technical report at 83.20, recording its highest level during early trading of the current session, $83.80 per barrel. Technically, we find the price stable momentarily above …

Quiet movements tending to the upside dominated the movements of US crude oil futures contracts within the desired upward path, approaching by a few points from the first official target of 82.30, only to record the highest, around $82.00 per barrel. Technically, with a closer look at the 4-hour chart, …

US crude oil futures prices reversed the bearish trend, as we expected, in which we relied on trading stability below the strong resistance level 80.60, at the time of the report’s release. As a reminder, we indicated that the price’s consolidation above 80.70 can thwart the bearish trend and lead …

Limited positive attempts dominated the movements of US crude oil futures prices, failing to breach the main resistance of the current trading level at 80.60. Technically, by looking closely at the 240-minute chart, we notice clear negative signs on the stochastic indicator, which is gradually losing bullish momentum and trading …

Mixed movements still control the prices of US crude oil futures contracts, to move in both upward and downward directions, recording a high of 80.45 before hitting a low of around $78.20 per barrel. Technically, by looking at the 240-minute chart, the price is shifting around the 50-day simple moving …

Mixed trading dominated the prices of US crude oil futures contracts yesterday, touching the official bearish target to be achieved at 77.60, recording its lowest level at $77.65 per barrel. Technically, and looking at the 4-hour chart, prices tried to take advantage of the mentioned support level represented by the …