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WTI crude futures touch rising trend line; outlook remains bullish. WTI crude oil futures tumbled lower over the last couple of sessions, reaching again the short-term ascending trend line in the 4-hour chart. Also, oil prices dropped below the 20-simple moving average (SMA), while the technical indicators are confirming the recent negative
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WTI crude futures returns in gaining ground; bullish bias. West Texas Intermediate (WTI) futures have been in a flying mode today, hitting the bearish cross of the 20- and 40-simple moving averages (SMA). The price has pared some of the previous days’ losses and the momentum indicators are suggesting more gains. The RSI indicator
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Oil prices are currently undertaken by a strong bull market that has driven the commodity’s prices much higher than anticipated and could be driven by this energy for some time to follow. Many market participants and followers are focused on what will happen when and if the US starts the sanctions
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Canadian inflation and retail sales figures for August and July respectively are due on Friday at 1230 GMT. Market participants currently assign a near 80% chance for a rate hike by the nation’s central bank during its late October meeting, with a data beat having the capacity to seal the
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WTI oil futures edge higher but struggle to overcome 50.0% Fibonacci. West Texas Intermediate (WTI) crude oil futures traded sharply higher today after the bounce off the 68.50 resistance level, which overlaps with the 38.2% Fibonacci retracement level of the down-leg from 75.24 to 64.40. However, oil prices have been developing within a sideways range with the 69.80
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(adsbygoogle = window.adsbygoogle || []).push({}); The Loonie strengthened yesterday, as Canada signaled that it was ready to make concessions towards the US in the NAFTA negotiations. According to media, Canada may be offering the US a limited access to Canada’s dairy market which could provide a breakthrough for an
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(adsbygoogle = window.adsbygoogle || []).push({}); On Monday a meeting was held between U.S. Energy Secretary Rick Perry and Saudi Energy Minister Khalid al-Falih in Washington. After the meeting, it was announced that the Trump administration recommended that the biggest oil-producing countries should keep intensifying production, in order to counter
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WTI oil futures trades sideways in the near-term; bullish mode in the long-term. West Texas Intermediate (WTI) crude oil futures have been moving sideways since the bounce off the 68.50 resistance level, which overlaps with the 38.2% Fibonacci retracement level of the down-leg from 75.24 to 64.40. In the short-term, the
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WTI crude oil futures hover near upper Bollinger band; in the medium-term bearish. West Texas Intermediate (WTI) futures are developing below the 65.70 strong resistance area over the last four trading days but successfully surpassed the mid-level of the Bollinger band, this being a 20-period-simple moving average (SMA) in the 4-hour chart. The RSI
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WTI crude oil futures advance considerably near 40-SMA in the near-term. WTI futures resumed neutral mode in the short-term picture following the rebound on the six-week low of 65.70 on Monday’s session. The RSI and the MACD have both improved but remain near their neutral zones; the RSI is currently moving slightly above 50, while the
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