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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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WTI crude oil futures plunge near 3-week low; bearish phase holds. WTI futures for August delivery recorded a fresh more than three-week low of 67.56 on Monday, while the sharp bearish run started following the pullback on the 74.64 resistance level last Tuesday. Also, the price plunged below the 61.8% Fibonacci retracement level
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WTI oil futures tumble nearly 5% but hold in a bullish area. WTI crude oil futures (August delivery) had their worst day in a year yesterday losing nearly 5% in the wake of new trade threats from the US to China. The price, however, managed to stay above 70 yesterday, finding support at
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WTI oil futures drift sideways as rally eases. West Texas Intermediate (WTI) crude oil futures seem to have lost momentum since hitting the 75.24 multi-year high on July 3. Price action is at the moment taking place above the 20- and 40-simple moving averages in the 4-hour chart after they recorded a bearish cross but
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Is Crude Oil heading to $80 per barrel? Fundamental Analysis: Crude Oil’s yesterday’s session was quite impressive as the commodity was seen changing direction at different timeframes and was characterised as a rocky session by many analysts. At the start of yesterday’s American session, crude oil prices weakened amidst confirmation from Saudi
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WTI futures create multi-year highs; bullish bias but the possibility of an overstretched rally. West Texas Intermediate (WTI) futures surged to a fresh high of 74.80 since November 2014 as it is recording a sharp bullish run over the last five days. Prices broke above the 72.20 level and are trading above
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WTI futures remains bullish as it stands above 50.0% Fibonacci. West Texas Intermediate (WTI) futures posted a negative day after they reached a new one-month high of 69.40 yesterday, while on Friday the price created sharp bullish extensions. The price eased and tested the 67.75 support level on Monday before the jump above the 50.0% Fibonacci
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WTI futures erase rally; could weaken further in short-term. WTI futures have reversed back down again after finding resistance at the 65.95 resistance level, achieved on Monday, which overlaps with the 20- and 40- simple moving averages (SMA) in the 4-hour chart. Additionally, the price dived below the 23.6% Fibonacci retracement
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WTI crude oil futures surpasses 23.6% Fibonacci; next resistance at 67.30. West Texas Intermediate futures is on course for a bullish correction and is posting some gains today, following the rebound on the 64.20 support level. The price jumped above the 66.00 handle and the 23.6% Fibonacci retracement level of the down-leg from 72.87
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Fundamental Analysis: The most recent headlines in the Oil market, are regarding unofficial requests from the United States government towards Saudi Arabia and some other OPEC producers to increase Oil supply. OPEC producers along with Russia have not stated clearly their intentions to increase oil supply or the opposite, oil production cuts
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