Tag Archives: Oil

US crude oil futures saw a positive rebound, recovering from a low of $67.31 per barrel in the previous session. Technical Analysis: Breaching the resistance level of $68.60 has provided support for further gains. The 240-minute chart also shows the Relative Strength Index gaining positive signals, reinforcing the upward outlook. …

US crude oil futures have successfully reached the first downward target at $69.65 per barrel, recording a low of $69.45. Technical Outlook: Today’s analysis suggests the potential for the downtrend to continue, with the bearish double top pattern on the 4-hour chart maintaining its negative influence. The downward pressure is …

US crude oil futures remain in a downtrend, recording a low of $69.68, approaching the first target of $69.65 per barrel. Technical Outlook: The bearish double top pattern on the 4-hour chart continues to exert negative pressure on prices. With trading stability below $71.20, the downtrend is likely to persist, …

US crude oil futures experienced a significant decline, hitting the target of $69.65 as mentioned in the previous report, with a recorded low of $69.73 per barrel. The bearish double top pattern on the 4-hour chart continues to exert negative pressure, indicating the potential for the downtrend to persist. As …

U.S. crude oil futures experienced significant losses at the start of the current week, surpassing the previous target of 71.90 and reaching a low of $70.78 per barrel. A bearish technical pattern, specifically a double top, is evident on the 240-minute chart. This, combined with persistent downward pressure from the …

The second week of October trading began with optimism in North American equity markets despite increased Middle East tensions, ongoing war in Ukraine, a stronger than expected American economy, and weaker than expected numbers from China. China: The National Development & Reform Commission (NDRC), China’s state planner, stated that the …

US crude oil futures experienced mixed, but mostly negative, trading after encountering strong resistance around the $78.40 level, which led to a pullback. From a technical perspective, we lean toward a bearish outlook, but with caution, as the Stochastic indicator on the 4-hour chart signals a loss of upward momentum. …

Crude oil prices experienced mixed trading with a positive tendency, reaching a peak at $72.45 per barrel amidst ongoing geopolitical tensions. Technically, the outlook remains cautiously optimistic, with oil prices continuing to receive positive momentum from the 50-day simple moving average. This is supported by stable intraday trading above the …

US crude oil futures experienced significant losses, as anticipated in the previous report, reaching a low of $67.45 per barrel within the bearish trend. Technically, we maintain a cautious negative outlook, relying on the ongoing downward pressure from the simple moving averages, along with the stability of momentary trading below …

U.S. crude oil futures declined significantly, following the downward trend mentioned in the previous report, exceeding the official target of 68.65 and recording a low of $66.967 per barrel. From a technical perspective, we lean toward a negative outlook but with caution, relying on the continued negative crossover of the …