Market Overview Technical Analysis

Technical Analysis – Crude Oil (CL) Futures Prices Continue to Rally

CL prices continue to follow the Parabola. The Inverse Head & Shoulders pattern has a chance as the price hovers above the neckline. Technicals point toward a bullish sentiment. Fibonacci analysis and targets if the rally continues. Quick Recap In the previous two articles, the central theme has been the bullish sentiment of CL, mainly Read More…

crude oil futures (CL)
Market Overview Technical Analysis

Parabolic Curve Retest and Inverse Head & Shoulders on Crude Oil (CL) Futures Chart

The parabolic curve on the CL chart continues to act as support. A Potential inverse Head & Shoulders formation on the 4-Hourly time frame. Point of control volume profile acting as resistance. Daily Chart Recap From last week’s multiple tests of the parabolic curve, CL is repeating the same tests once more, with the price Read More…

Crude oil (CL) futures
Fundamental Analysis

Crude Oil (CL) Price Advances on Record US Petroleum Exports and Weaker Dollar

US oil exports last week averaged 11.4 million barrels per day. The weaker dollar supports oil prices by making it cheaper for overseas buyers. US officials were forced to scale back the Russian price-cap plan. Following a session-high increase of more than 3%, crude oil (CL) futures prices continued to surge in early Asian trade Read More…

Crude oil (CL) futures
Market Overview Technical Analysis

Crude Oil (CL) Futures Poised For a Bullish Breakout?

A recap of the Bullish Parabolic curve. CL looking more Bullish Potential targets of $90 & $93.64 are still probable. The Parabola The parabolic curve mentioned in last week’s analysis has been tested on five different sessions now, with each attempt being bought up, resulting in bullish candlestick formations on the daily chart. This indicates Read More…