Illustration photo of oil well from The Wall Street JournalTOKYO (Reuters) - Oil prices fell on Wednesday after a surprise climb in U.S. crude stockpiles added to concerns about a global supply glut as a spike in global COVID-19 cases fuels demand fears and production returns in Libya.Brent crude fu
WTI stays pressured after Friday’s downbeat performance, slips below $40.50.
MACD turns most bearish in a week, the key SMAs pop-up on the sellers’ radars.
Bulls will have to cross September high for confirmation.
WTI drops to $40.26 during Monday’s Asian session. In doing so, the energy benchmark
WTI is caught between structure and offers little scope of an opportunity.
Bears have been denied by a bullish surge to resistance.
The price of the black gold has rallied from daily support to a resistance also marked on the daily charts.
The monthly picture remains bearish but there is work to d
WTI picks up bids toward $37.50 following its U-turn from the lowest in one month.
50% Fibonacci retracement offers immediate resistance ahead of $38.90-$39.00 key upside area.
Sellers will target 61.8% Fibonacci retracement following the trend line break.
WTI rises to $37.40 during the pre-Tokyo o
Crude oil price is down sharply today as traders react to the rising volatility in the market. West Texas Intermediate (WTI) is down by more than 3% is trading at $37.6.
The four-hour chart shows that the WTI crude oil price has dropped sharply today. That has pushed the price below the 25-day expo
Saudi Arabia’s economy shrank by 7 percent, with the unemployment rate hitting a record high in the second quarter as the combined effect of the oil price crash and the coronavirus pandemic hit the world’s largest oil exporter hard.
Saudi Arabia’s gross domestic product (GDP) slumped by 7.0 percent
WTI is finally making its way into the kill zone.
Bears are getting set, but there are a few more steps in the price action that we want to see.
The price of which has been tracked in a series of analysis, as follows:
WTI Price Analysis: Bulls targeting a weekly bullish correction, 1:3 R/R;
Brent 28/9 - On daily timeframe for brent, the MA 50 and MA 200 still didn't cross like how WTI did. I'm expecting for brent to behave as WTI as well hence it will cross as soon market start since bot...