Tag Archives: Oil

US crude oil futures prices achieved the first corrective decline target published during the previous technical report, located at 79.30, to rebound quickly to the upside. The current movements are hovering around $81.30 per barrel. Technically, the current movements of oil are witnessing stability above the resistance of 80.80, in …

We remained neutral during the last technical report due to conflicting technical signals, explaining that risks are still high amid diverging technical indicators. As a reminder, we indicated that the price’s decline below 80.00 leads oil prices to visit 79.65, recording the lowest 79.66. Technically, we tend to be negative …

Due to conflicting technical signals, we adhered to intraday neutrality during the previous technical report, explaining the importance of monitoring the price from below 79.20 and above 80.85. Technically, prices failed to stay long above the resistance level of 80.85. Therefore, the stochastic indicator gradually lost bullish momentum, supporting the …

Due to the high level of risks amid conflicting technical signals, we adhered to intraday neutrality during the previous technical report, explaining that confirming a breach of 81.00 may extend oil’s gains to 81.60, recording its highest level at 81.80. Technically, the inconsistency in the technical signals is still present. …

Strong rises were witnessed in the prices of US crude oil futures contracts, to start its first weekly dealings on a rising price gap under the influence of the OPEC decision, to record its highest level of $81.50 per barrel. Technically, By looking closely at the 240-minute chart, we find …

US crude oil futures prices witnessed an upward rebound by the end of last week’s trading, building on the strong support floor of 72.60. Technically, with a close look at the 240-minute chart, the price has returned to stability above the simple moving averages that support more rises and is …

Oil futures turned bullish on Thursday’s US session, driven by the improvement in risk appetite and the emergence of expectations that OPEC + will keep its production policy unchanged, adopting the same levels of increased production. US oil futures rose to $74.24 a barrel, compared to the previous daily closing …

The prices of US crude oil futures contracts declined significantly by the end of last week’s trading within the bearish directional movement, as we expected, touching the official target station at the price of 67.20, recording its lowest level at $66.86 per barrel. Technically, the bearish trend during today’s session …

Mixed trading dominated the prices of US crude oil futures contracts at the beginning of this week’s trading, recording a low of $64.40 per barrel. Oil prices are trying to provide some recovery, benefiting from the intraday stability above 65.60. However, upon closer look at the chart, we find that …

US crude oil futures prices incurred significant losses during the previous trading session amid intense selling operations, recording a low of $70.83 per barrel. Technically, the simple moving averages continue the negative pressure on the price from above and support the possibility of continuing the bearish gap. This comes with …