Introduction Crude Oil futures (CL) exploded higher after the weekend, with price ripping from the mid-$60s to above $100. On the daily chart, we can see a violent repricing, and moves like this almost always come from a major catalyst rather than from technicals alone. The chart shows a market that had been sitting for Read More…
Crude oil prices rose further in Thursday’s Asian session as the U.S.-Iran conflict worsened, tightening supply expectations and halting flows through the Strait of Hormuz. Brent crude rose more than 2% and was trading close to $83 per barrel. Meanwhile, WTI rose toward $76.60, adding to an 11% rise earlier in the week. The geopolitical Read More…
Quick Recap From Yesterday In yesterday’s crude oil technical analysis, we saw a big jump in the price after the weekend’s developments in Iran. Here is a snapshot: The candle from yesterday also closed firmly green after the gap up. After the close, price opened lower but still in the range of the previous candle Read More…
Introduction After a weekend full of major turmoil in the Middle East, Crude Oil (CL) has exploded higher, rallying 12.54% in early Monday trade. Any further developments of the crisis will be closely watched by investors, and all traders should be wary of the volatile swings we are likely to see in the market this Read More…
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Crude oil prices remain steady on Thursday, stuck in a volatile deadlock between rising tensions in the Middle East and a massive surplus in US stockpiles. Brent futures, used as a global benchmark, are around $71.00 a barrel, while West Texas Intermediate (WTI) traded around $65.50. Traders are currently adding a hefty “war premium” to Read More…
