Christopher Lewis
Add to Bookmarks
Crude Oil WTI Brent

West Texas Intermediate Crude Oil

The West Texas Intermediate Crude Oil market try to reach towards the $35 level during the course of the week but then pulled back a bit. It looks as if there is a lot of resistance just above, especially as there is a gap there. Whether or not we can fill the gap is the next question, and if we do the market could go as high as $41. Ultimately, the market has a lot of things to worry about, not the least of which is the fact that the demand for crude oil is probably lower. However, we have seen a lot of supply destruction, so I think you will see a lot of noise in general, but at this point it is likely that we will see a short-term verse, only to pull right back down.


WTI Oil Video 25.05.20


Brent markets also try to rally, but unlike the West Texas Intermediate Crude Oil market, the Brent market has the problem that it is much more global, meaning that it has to deal with a large group of failing economies. That being said, the candlestick does look negative and we could have a pullback to the $30 level. However, if we break above the top of the weekly candlestick that I believe this market probably goes looking to fill the gap above near the $45 handle. Either way, longer-term traders again to continue to have a lot of to think about, as the global economy has most certainly changed and for a much longer time than some talking heads are saying. At this point, the market has some deciding to do.

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

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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