Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis
Brent WTI Crude Oil

WTI Crude Oil

The West Texas Intermediate Crude Oil market has pulled back a bit during the trading session on Thursday, as we may have to pull back just a bit in order to entice more buyers. At this point in time, you should only put so much into the idea of the candlestick, due to the fact that it was Thanksgiving in the United States, and that of course means that you can only read so much into the price action. Nonetheless though, we have been a bit overextended so this pullback should offer value as traders came back to work. This is a market that should go looking towards the $50 level given enough time, so buyers will probably continue to look at these pullbacks as value.


Crude Oil Video 27.11.20


Brent markets have pulled back as well, but they also look like they are ready to go higher over the longer term. I think we may have a little bit of a pullback ahead, but that should be thought of as potential value in the short term. Longer-term, I think that crude oil is going to continue to have issues, as the market is obviously looking past the vaccine but at the end of the day economy still are going to be relatively sluggish so it is difficult to imagine a scenario where we can continue going higher for the longer term. In the short term though, market seem to be willing to look past any real demand issues. Near the $50 level I would anticipate that there would be selling so signs of exhaustion we would something you should pay attention to.

Know where WTI Crude Oil is headed? Take advantage now with 

75% of retail CFD investors lose money

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.