Trade Successfully
The Organization of Petroleum Exporting Countries (OPEC) and its allies will meet in Vienna on Thursday, and expectations for a production cut to stabilise oil prices are riding high. With investors appearing confident such a reduction will indeed take place, the impact on oil prices may depend mainly on the
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WTI futures gain some ground; SMAs create a bullish crossover. West Texas Intermediate (WTI) crude oil futures are in progress to recover some more ground after the bullish gap that posted yesterday. The price jumped above the positive crossover within the 20- and 40-simple moving averages in the 4-hour chart, approaching
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(adsbygoogle = window.adsbygoogle || []).push({ google_ad_client: "ca-pub-1126027167330222", enable_page_level_ads: true }); The coming week will be significant both in terms of data releases as well
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WTI crude futures hold above a 15-month low; record some gains. West Texas Intermediate (WTI) crude oil futures are trying to pare some of the previous month’s heavy losses, however, the momentum is still too weak. During Monday’s session, the price completed a fresh 15-month low around the 50.00 level, recording a significant
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WTI crude futures consolidate after hitting a 9-month low. West Texas Intermediate (WTI) futures advanced slightly above the nine-month low of 54.80 after the sharp sell-off in the preceding week but is trading in a narrow range of 55.25 – 58.15. Prices are trading within the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, which
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WTI crude oil futures hover near 9-month low; bearish bias in the short-term. West Texas Intermediate (WTI) futures plummeted to a new nine-month low of 58.66 on Monday, creating the eleventh red day in a row. Prices remain below the simple moving averages (SMA) in the 4-hour chart and are hovering slightly above
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WTI crude oil futures hover above 7-month low; bearish outlook in place. WTI crude oil futures sank to a new seven-month low of 62.51 on Monday, recording the sixth consecutive bearish day. Prices remain below the simple moving averages (SMAs) in the 4-hour chart and are hovering slightly above the aforementioned low. Having a look
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Rising oil supply remains at the center of the news today and especially figures from the US confirm this statement. Last night the American Petroleum Institute reported U.S. crude inventories increased by 5.7 million barrels last week, sending the message that oil production in the US is in full power. We
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Starting with the Khashoggi case and as analysed in last week’s oil outlook and despite opposing opinions, we continue to share the view that the case is not expected to have a substantial effect on the oil market, at least not currently. It would be evident that Saudi Arabia’s energy
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WTI futures create downside rally towards long-term ascending trend line. West Texas Intermediate oil futures plunged over the last sessions, moving towards the long-term ascending trend line in the 4-hour chart. Also, they hold below the 20- and 40- simple moving averages (SMAs), while the technical indicators are confirming the recent negative structure in the near-term. The RSI
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