Tag Archives: Oil

WTI crude oil futures prices exhibited strong bullish momentum yesterday, successfully reaching our initial target of 81.50 and achieving a peak of $81.50 per barrel. Technical Outlook: The technical outlook remains bullish, with the 240-minute chart showing that simple moving averages (SMAs) are providing continuous support for the ongoing upward …

WTI crude oil futures prices continue their upward trajectory, approaching our previously identified target of 81.30 and reaching a high of $81.13 per barrel. Technical Outlook: While the intraday movement shows some consolidation below 81.00, the overall trend remains bullish. The Stochastic indicator on the 4-hour chart is hinting at …

WTI crude oil futures prices are on the rise, targeting the $80.00 per barrel threshold. Technical Outlook: Our analysis remains bullish, bolstered by the price finding support above the critical 79.65 level and the continued positive momentum provided by the simple moving averages. Upward Potential: The upward trend appears poised …

WTI crude oil futures prices experienced notable gains yesterday, reaching our previously identified target of 78.80 and peaking at $79.28 per barrel. Technical Outlook We maintain a cautiously bullish outlook, supported by the positive influence of the 50-day simple moving average and the price holding above the crucial 77.60 support …

WTI crude oil prices rebounded during the previous session, finding support at the pivotal 75.25 level we highlighted in our prior report. A break below this level would have signaled a continuation of the downward trend. On the 240-minute chart, we now observe positive crossover signals from the simple moving …

WTI crude oil futures experienced mixed trading, attempting to bounce back from recent lows by utilizing the 75.25 support level. Currently trading at $75.75 per barrel, the commodity faces a bearish outlook due to several technical factors. The 50-day simple moving average continues to act as a strong resistance barrier, …

As May draws to a close and June begins, financial markets worldwide find themselves at a critical juncture. Economic data reveals a mixed picture, with signs of easing inflation tempered by ongoing concerns about growth and the potential for further policy tightening. Central banks grapple with diverging paths, while oil …

Oil prices declined on Thursday as the stronger U.S. dollar and expectations of prolonged high interest rates raised concerns about potential demand reduction. Brent futures dropped 0.3% to $83.34 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 0.3% to $79.00. Both benchmarks are on track for monthly losses, …

WTI crude oil experienced mixed trading yesterday, oscillating between gains and losses while approaching the previously identified target of 80.75. The commodity reached an intraday high of $80.60 per barrel before encountering resistance. Technical analysis reveals a shift in momentum. The price failed to sustain above the $80.00 level and …

Oil prices fell on Thursday as markets await the latest U.S. crude oil stockpiles data. Resilient U.S. economic activity suggests that borrowing costs will remain higher for longer, potentially impacting demand. Brent futures lost 9 cents to trade at $83.52 a barrel, while U.S. West Texas Intermediate (WIT) crude was …