The hanging man from the previous analysis yielded over 767 points Re-cap on Bearish $70 medium-term target Short opportunities as CL rallies into the resistance zone 767 Points Profit The hanging man we analyzed here provided a 767-point move as CL fell swiftly below $81. The pattern has played out but is still intact and Read More…
A stronger dollar is restraining overseas demand for oil. US crude inventories dropped more than analysts had anticipated. China’s demand for crude oil is expected to drop. After rising by more than $3 the previous session, crude oil (CL) futures prices pulled back on Thursday. A strong dollar restrained demand, and market jitters over the Read More…
The hanging man candlestick pattern is confirmed on the daily chart The target for Bears is below the $81 price level Accumulation Zone around $82 broken to the downside Hanging Man CandleStick Earlier in the week, we analyzed the potential formation of either a hammer or a hanging man candlestick confirmation. Looking at the daily Read More…
Supply concerns grow ahead of the winter season. Geopolitical tensions rise after Putin escalates the Russia-Ukraine war. Crude oil demand rebound in China, boosting oil prices. After falling 1% yesterday, crude oil (CL) futures prices rose on Thursday as worries about shortages occurring during the winter outweighed concerns about a possible worldwide recession. The oil Read More…
A 5% swing was recorded in yesterday’s trading session Hammer or a Hanging Man Candlestick Pattern formation Crude oil’s downtrend still intact since the middle of June Targets for the bears and the bulls Daily Chart Candlestick Yesterday’s session saw a swing in CL from being down 4.3% to reversing and closing 0.6% in the Read More…
A stronger US dollar is capping oil gains. Investors expect a possible 100bps rate hike from the FED. Supply concerns continue amid fighting in oil-producing countries. Crude oil (CL) futures prices surged this week amid weak demand and supply disruptions as the United States prepared for a potential rail shutdown. However, oil prices were steady Read More…
