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

WTI Crude Oil

The West Texas Intermediate Crude Oil market has broken down significantly during the trading session on Monday, slicing through the 50 day EMA and of course the $40 level. At this point, the market looks as if it is ready to go back towards the lows again, which is closer to the $37 level. Short-term charts continue to favor shorting long wicks to the upside, and that is how I am going to go into this market. I have absolutely no interest in buying oil, and of course the fact that the US dollar has strengthened is only increasing this massive negativity.


Crude Oil Video 22.09.20


Brent markets also broke down significantly, slicing through the 50 day EMA during the trading session, and reaching towards the $41 level. Ultimately, I think that the market is ready to go down to the $40 handle, and if we sliced through their it is likely that the market then goes looking towards the $35 level. Short-term rally should be selling opportunities, just as they will be in the WTI Crude Oil market. All things being equal, the market is well below the 200 day EMA as well, which has offered significant resistance. I feel at this point in time that the sellers have made a definitive statement on Monday and will continue to pressure this market lower. If the US dollar continues to strengthen, that will of course continue to pressure this market as well. At this point, it looks like that is very likely to happen.

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.