Introduction Crude Oil futures (CL) continue to consolidate and test the support zone between $62.4 and $61 as the selling pressure has not been strong enough to push the price below it. In our previous analysis, we highlighted that zone as very important because a push below it would likely lead the price to $56. Read More…
Crude oil futures remain volatile as traders balance near-term geopolitical risks with concerns about oversupply. Brent crude edged up to $65.50 on Thursday while WTI climbed to $62.00 area, recovering modestly from earlier losses. The rebound occurred amid concerns about a potential disruption to Russian crude oil exports. However, the upside remains capped by rising Read More…
Introduction Crude oil futures (CL) have now moved into the $60–62 support zone that has acted as a floor since early August. It is an important zone because the next level below this is at $54. Bulls will be looking to hold this level so that price doesn’t slip to those levels not seen since Read More…
Crude oil markets remain caught between two opposing forces: bullish supply shocks and bearish concerns about oversupply. The WTI prices soared 2.5% on Wednesday to settle near $65.00, the highest level since 2nd September. The US EIA data surprised the market participants with a draw of 607k barrels in crude inventories. The figure contrasted sharply Read More…
Introduction After a strong rally that pushed NQ toward the 25,000 psychological level, momentum has stalled slightly with the last two sessions in the red. The overall trend is still bullish, however, and bears still have a lot of work to do if they want to reverse the outlook of the NASDAQ. Let’s take a Read More…
Introduction Crude oil is hovering around $62.30–62.50, finding buying pressure inside of a support zone. After months of steady selling, bulls are starting to find some strength and are looking to push the price back up toward the 50-day SMA. Lets take a deeper look at the technicals and what they are telling us. Technical Read More…
