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

WTI Crude Oil

The West Texas Intermediate Crude Oil market has seen a bit of bullish pressure during the trading session on Tuesday again to break above the $53 level. That being said, the market looks as if it is ready to go to the next major resistance barrier in the form of the $55 level. I do believe that the $50 level underneath is going to continue to be supported, so we are essentially in the middle of this overall range. However, I think that given enough time we will continue to see buyers try to break higher based upon the idea of the “reflation trade.” Buy the dips has worked for some time, and I think that will continue to be the case for the time being.


Crude Oil Video 13.01.21


Brent markets rallied significantly during the trading session on Tuesday as we continue to see money pump into commodities overall. Brent is very likely go looking towards the $60 level, which of course is a large, round, psychologically significant figure. I think in the short term we will get the occasional pullback, but the reality is that a lot of traders will look at these pullbacks as potential buying opportunities, as this market has been so strong for so long. With this being the case, I think that the $50 level underneath will be essentially the “floor the market”, and therefore should continue to attract a lot of attention. Furthermore, the 50 day EMA is sitting just below there, and tilting higher. With that being the case, I think that it is not until we break significantly below the $50 level that I would be concerned.

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.