There are worries about slowing American demand in the wake of record-high crude stocks. So far this week, oil has increased by more than 6%. US crude oil stocks went up last week to their highest level since June 2021. On Thursday, oil prices found it difficult to gain traction as hopes for improving Chinese Read More…
A weaker dollar revived interest in risky investments. The Fed increased its target interest rate by 25bps. OPEC+ maintained the production cuts agreed upon last year. Oil continued its bearish momentum despite positive market sentiment on Thursday. However, the OPEC+ decision to extend an output cut allayed concerns about oversupply. Oil prices dropped more than Read More…
Discover how to profit from the current rally in crude oil prices driven by a weak dollar. RSI, 1-2-3 reversal pattern, Symmetrical Triangle, and pivot points all point toward bullish momentum. Trading chart for us to visualize the bullish targets and price momentum. The driving force behind this rally Undoubtedly, the driving force behind the Read More…
Oil prices fell yesterday on concerns over a probable global recession. US manufacturing continued to decline in December, affecting oil prices. In anticipation of weak local demand, the Chinese government boosted export quotas for refined oil products. After two days of severe losses in oil prices, investors came out to buy dips on Thursday amid Read More…
CL suffers a 9% decline in just two days, as suspected. Analyzing the order block responsible for multiple price rejections at $81.55. Evaluating the differences between time-based and range charts in a trending market. Quick Recap Before the end of the year, we looked at possible bearish targets around $67.98. CL dipped from $75 to Read More…
A look at the 2021 high that is a significant support and resistance level The RSI remains bearish with no signs of a reversal Potential bearish targets from 1-2-3 reversal and trend channel analysis Long Term Outlook We have been tracking the CL price for some time now as we watch the daily trend continue Read More…
