Tag Archives: Oil

The price of US crude oil futures witnessed mixed movements during the last trading session to start achieving the expected bearish scenario during the middle of yesterday’s session, touching the required target 77.30, to return to the bullish rebound to test the resistance level of 79.00. Technically, the price moved …

Crude oil prices fell on Wednesday after the U.S. Energy Information Administration reported an inventory build of 16.3 million barrels for the week to February 10.This compared with a build of 2.4 million barrels for the previous week, extending a string of weekly builds, some of them quite sizeable, which …

Temporary negative movements regained control over the prices of US crude oil futures contracts, nullifying the expected bullish technical outlook during the previous report, in which we relied on the bullish technical pattern, in addition to the price’s stability above 78.30 at the time of the report’s release, to witness …

Positive movements dominated the prices of US crude oil futures contracts at the beginning of this week’s trading after it managed to build on the support of 78.30, to start its movements within an upward rebound, recording its highest level at 80.57. Technically, we find a bullish technical formation that …

US crude oil futures prices achieved our first target during the previous trading session, which is at 78.40, to record its highest level at $78.53 per barrel. Technically, oil is still maintaining its bullish context after establishing a good support base of around 78.00, accompanied by the positive impulse of …

US crude oil futures prices jumped to achieve noticeable gains within the expected upward path during the previous report, surpassing the required retest target of 76.60, recording a high of $77.55 per barrel. Technically, we continue to suggest the bullish daily direction, relying on the positive impulse coming from the …

US crude oil futures prices reversed the expected bearish trend published during the previous analysis after prices managed to build on the support of the psychological barrier of 73.00. Technically, the 50-day simple moving average still constitutes an obstacle in front of the price. But, on the other hand, we …

Futures prices achieved significant losses last Friday, as part of the expected downside path during the latest technical report, surpassing the official target station 74.20, recording its lowest level at 73.16. Technically, we tend to be negative in our trading, relying on the confirmation of oil breaking the support level …

Major US stock indexes closed lower on Friday after surprisingly strong jobs data raised concerns about the Federal Reserve’s aggressive rate hikes, while investors received a mixed batch of earnings reports from major companies.The data published by the US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls …

US crude oil futures prices declined significantly within the expected bearish context during the last technical report, touching the first target of 77.00, and approaching by a few points the second target of 76.00, recording the lowest at $76.10 per barrel. Technically, by looking at the 4-hour chart, we find …