Crude Oil WTI

WTI crude oil prices are pushing lower following a six-day winning streak. Price action rose to a 13-month high prior to the pullback. But for the moment, the declines are likely supported near the 57.35 level of support. If price action…
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WTI crude oil prices continue to post strong gains. Price action is now on track to post six consecutive days of gains. This has also pushed oil prices to highs last seen in February 2020. However, the current pace of gains comes with…
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For most of the latter half of last year, crude prices remained largely stable, with WTI hovering just a little over $40/bbl. This could have gotten some traders used to a relatively flat price range for crude. But if one thing is true…
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WTI Crude oil prices continued to advance with price action closing near a 13-month high. Prices briefly traded close to the next key resistance level of 57.35. We could expect a push higher for the commodity to test this level firmly.…
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The USOIL structure looks at waves I-II-III-IV-V which suggests a bullish impulse. Currently, correction IV of a cycle degree, in the form of a double zigzag, has recently ended. Now a cycle wave V is forming, which can complete the…
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Greenback Continues to Surprise The dollar index closed 0.45% yesterday as is headed for its best weekly gain in three months. Democrats in the US Senate expect a marathon voting process, with Republicans set to oppose Biden's $1.9tn…
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WTI Crude oil prices are trading weaker following the previous strong bullish sessions. Price action is reversing gains after testing the 56.00 level. The declines could, however, see near term gains once again. For the moment, the…
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Crude oil prices are posting solid gains for the third consecutive session. The gains come on the back of declining crude oil inventories. It's further due to news that the Democrats took first steps toward advancing President Biden's…
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Investors Await PMI and ADP The US index found resistance at propelling through the 91 barrier yesterday. However, it did manage to close slightly higher as the session wound to a close. The rising risks in the market associated with…
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Crude oil price finally broke out from the range it has been in for nearly three weeks. The strong upside breakout pushed the commodity toward a new one-year high. A pullback is likely to occur in the near term toward the upper range…
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