Browsing Tag

crude

Sentiment Hangs on Both Monetary & Fiscal Aid

David Kindley Jul 29, 2020 424 0

Uncertainty Looms on Jobless Claims Package The US Index halted its free-fall at the close on Tuesday. However, with the US far from reaching an agreement on its fiscal stimulus package, further weakness can be expected. In addition,…
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Fundamental Analysis

Oil Holds Up as Gasoline Stocks Fall

Orbex Jul 9, 2020 1,311 0

Inventories Surge Higher Crude oil prices have managed to remain near recent highs this week. This is despite the latest report from the Energy Information Administration highlighting a further rise in US crude inventories. The EIA…
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Technical Analysis

Crude Oil Barely Moves Off the 40 Handle

Orbex Jul 6, 2020 281 0

Oil prices continue to remain in limbo. Price action is trading quite flat with oil stuck around the 40.00 handle for the past few days. The squeeze between the horizontal resistance level and the trend line suggests that a major…
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Technical Analysis

WTI crude oil takes a breather after strong gains

Orbex May 7, 2020 360 0

WTI crude oil prices are down about 7% intraday. This comes after prices were rallying sharply in the previous six sessions. The retracement is showing prices testing the 25.00 handle. As long as this level holds, crude oil prices see…
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Technical Analysis

UKOIL: 32.88 Likely To Complete Bullish Correction ④.

Roman Onegin May 1, 2020 467 0

The current UKOIL structure suggests that the primary correction ④ is currently under construction. Wave ④ consists of three intermediate sub-waves (A)-(B)-(C) and is a simple zigzag, where (A) is an impulse, (B) is a zigzag, and (C) is…
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Fundamental Analysis

Negative Crude: What Else Can Go Below Zero?

Daniel John Grady Apr 22, 2020 936 0

For traders in stocks and currencies, the worst that can happen to their asset is that it can go to zero. That would lead to a significant loss. And it is definitely something to be worried about. But, no one's really thought of the…
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Technical Analysis

Oil drops over 5%, fails to capitalize on production cuts

Orbex Apr 15, 2020 254 0

WTI Crude oil prices are down by over 5% on Tuesday. This comes just a day after Russia and Saudi Arabia agreed to production cuts. The declines indicate that oil traders are brushing aside the production cuts. Price is slipping…
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Technical Analysis

USOIL: 5th Wave Underway Now!

Roman Onegin Apr 14, 2020 426 0

The USOIL structure shows a bearish impulse consisting of waves ①-②-③-④-⑤. The impulse is part of a cycle degree a-b-c correction. The first four parts of the primary degree pattern seem fully completed. At the time of writing,…
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Technical Analysis

WTI Crude Oil Holding Steady Above 22

Orbex Mar 26, 2020 520 0

WTI Crude oil prices are holding steady despite retracing some of the gains from earlier in the week. Price action is currently forming a higher low above the 22.00 handle. The trend line needs to be breached to confirm the upside.…
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Technical Analysis

WTI remains range bound

Orbex Mar 25, 2020 206 0

Crude oil price action remains modest with price erasing the gains made earlier in the day. Oil prices continue to remain slightly volatile in the near term. However, if the downside bias persists, we could expect oil prices to dip…
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