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Crude Oil WTI

Oil Hits a 9 Month High

Orbex Nov 26, 2020 652 0

Oil Boosted By Better Risk Sentiment Crude prices have enjoyed a strong rally this week with the market breaking out to its highest level since March in response to the ongoing pickup in risk markets. Traders are encouraged by the recent…
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Technical Analysis

WTI Crude Oil Attempts to Break Past Key Resistance

Orbex Nov 26, 2020 264 0

Oil prices are continuing to hold the bullish moment. Prices gained over 2% on Wednesday as WTI crude oil approached the 45.00 level of resistance. However, to steer clear above this level, further gains are required. For the moment, we…
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Technical Analysis

WTI Crude Oil Rises to a Nine-Month High

Orbex Nov 25, 2020 378 0

Oil prices are bullish as investors digest the third successful Coronavirus vaccine trials. In hopes of travel opening up again soon and the re-opening of economies, oil prices caught a bid. Price action is up over 5% intraday on…
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Technical Analysis

Oil Prices Rise to a Three-Month High

Orbex Nov 24, 2020 271 0

WTI Crude oil prices got a boost from ongoing positive news about the Coronavirus vaccine. AstraZeneca-Oxford University led efforts saw another vaccine likely to come out in the market. The news is boosting data for optimism as…
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Technical Analysis

WTI Crude Oil Holds Steady Above 41

Orbex Nov 23, 2020 255 0

Oil prices offset the losses from Thursday, posting strong gains on Friday. After consolidating near the 41.00 level of support, the commodity is once again testing the previous highs. The key challenge for crude oil will be the 42.68…
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Technical Analysis

Oil Prices Give Back Gains 2020-11-20

Orbex Nov 20, 2020 277 0

WTI Crude oil prices are trading weaker, giving back some of the gains from Wednesday. Price action remains supported above the 41.00 level for the moment. However, as the momentum continues to point to the downside, we could expect to…
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Fundamental Analysis

Oil Higher Despite Inventories Increase

Orbex Nov 19, 2020 345 0

Crude prices have been higher again this week with the market bolstered by the broad pickup in risk appetite. Risk assets, including oil and other commodities, have been higher in response to further vaccine news. Inventories Rise…
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Technical Analysis

Oil Prices Pullback Higher

Orbex Nov 19, 2020 383 0

Crude oil prices are back on the front foot after posting moderate declines on Tuesday. Price action is up over 1.5% on the day with the 41.00 level of support holding prices for the moment. However, this means that oil prices need to…
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Technical Analysis

Oil Prices Trade Weaker, Consolidating Near 41.00

Orbex Nov 18, 2020 366 0

WTI Crude oil prices are trading on a softer note. Price action is pulling back to the 41.00 level of support where consolidation is taking place. The lower high near the 42.00 level could signal a move lower. But this can be valid only…
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Technical Analysis

Crude Oil Pulls Back Lower into Friday’s Close

Orbex Nov 16, 2020 259 0

Oil prices gave back some of the gains made from last week. This comes after prices broke past the 41.00 level of resistance. The gains saw oil prices trading briefly close to the 43.00 handle before easing back. As a result, oil…
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