Forecasts & Analysis | Crude Oil, Page

  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Weekly Forecast – Needs Major Shake-up in U.S. Supply to Force Short Hedge Funds to Cover

    U.S. West Texas Intermediate and international-benchmark Brent crude oil futures settled lower last week with most of the selling pressure emerging on Friday. For the most part, it was a pretty uneventful week with prices consolidating as investors continued to digest the previous week’s decision by an OPEC-led group of

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Weekly Price Forecast – oil continues to struggle

    WTI Crude OilThe WTI Crude Oil market went back and forth during the week, settling on a negative candle stick. We are currently hanging about the $50 handle, an area that should continue to be supported. If we were to break down below the $50 level, then I think this

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – crude oil continues to struggle

    WTI Crude OilThe WTI Crude Oil market rallied at the very beginning of the session, only to break down and form a very negative candle stick. We are currently in a major wedge pattern, so I think at this point we will continue to see a lot of noise but

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Supported by OPEC-led Production Cuts, Capped by Concerns Over Weaker Demand

    U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading lower early Friday, erasing some of yesterday’s more than 2-percent gains. The catalyst behind today’s selling pressure is weaker than expected economic reports from China. These reports are raising concerns over future demand from the world’s second-largest economy.At

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  • James Hyerczyk
    James Hyerczyk

    Crude Oil Price Update – Direction Being Controlled by Pivot at $52.19

    U.S. West Texas Intermediate crude oil futures are trading lower early Friday amid concerns that a weakening Chinese economy will lead to lower demand. According to reports, China, the world’s second largest economy and the largest crude importer, announced some of the slowest retail sales and industrial output growth in

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  • Colin First
    Colin First

    Commodities Daily Forecast – December 14, 2018

    GoldThe gold prices initially pulled back slightly during the Thursday’s session only to find enough bullish pressure to turn around and continue moving higher. The gold prices need to break above the $1260 level in the short term, in order to maintain the bullish sentiment and which will eventually send

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  • Colin First
    Colin First

    Precious Metals Decline As US Greenback Gained Strength Ahead of FOMC Update

    Gold prices were steady on Friday supported by the uncertainty around the Federal Reserve’s policy outlook for next year but the metal was on track to mark its biggest weekly decline in five weeks, as a firmer dollar weighed on the sentiment. While the yellow metal has lost its bullish

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – crude oil markets fall again

    WTI Crude OilThe WTI Crude Oil market fell a bit during the trading session on Thursday, as we continue to see $50 offer support. If we break down below the $50 level, it’s very likely that we go down to the $45 level at the very least. Ultimately, I think

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – May Need Surprise Event to Fuel Short-Covering Rally

    U.S. West Texas Intermediate and international-benchmark Brent crude oil are trading nearly flat early Thursday while consolidating for fourth consecutive session. Prices are being underpinned by the OPEC-led production cuts announced last Friday that are designed to stabilize prices and reduce excess supply. The markets are also being supported by

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – crude oil markets continue to chop

    WTI Crude OilThe WTI Crude Oil market went back and forth during the trading session on Wednesday, as we continue to trade within a symmetrical triangle. We are sitting on top of what should be a major support level in the form of $50, but we just don’t have the

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  • Colin First
    Colin First

    Commodities Daily Forecast – December 12, 2018

    GoldThe gold prices initially rallied during yesterday’s session but turned around to show signs of exhaustion, breaking down below the $1250 level. The 50 Day EMA line underneath should offer strong support to the market. Alternatively, if the market breaks higher, then it could easily reach towards the $1275 level.

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – crude oil markets recover on Tuesday

    WTI Crude OilThe WTI Crude Oil market bounced from the uptrend line of the symmetrical triangle that we have been forming just above the $50 level on Tuesday. That’s a good sign, and quite frankly something that had to happen. What catches my attention even more is that the downtrend

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Traders Continue to Assess Impact of Production Cuts Amid Other Uncertainties

    U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are inching lower early Tuesday despite a report that Libya’s National Oil Company declared force majeure on exports from the El Sharara oilfield, which was seized over the week-end by a local militia group.The markets are also trading inside yesterday’s

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  • Colin First
    Colin First

    Commodities Daily Forecast – December 11, 2018

    GoldThe gold market pulled back slightly during Monday’s session, testing the $1250 level underneath, which now has turned supportive. At this point, pullbacks will continue to be a nice buying opportunity in the market and over a long period, it can reach towards the $1400 level. …Read MoreSilverThe silver market

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast -crude oil markets continue to meander

    WTI Crude OilThe WTI Crude Oil market continues to go back and forth during the day on Monday as we are bouncing around the $51 region. The market is clearly supported at the $50 level as well, and of course the triangle that I have marked on the chart. Overall,

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  • Colin First
    Colin First

    USD/CAD Daily Price Forecast – USD/CAD Rebounds From Intra-day Lows Amid Subdued Crude Oil Price Action

    The USD/CAD pair remained under some selling pressure at the start of a new trading week, albeit quickly recovered around 20-25 pips from sub-1.3300 level touched in the last hour. On Friday, the pair witnessed a sharp retracement on the back of stellar Canadian employment details, showing that the number

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Production Cuts Generating Surge in Brent Futures

    U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading mixed early Monday with the price action reflecting the OPEC-led decision on Friday to trim production by 1.2 million barrels per day (bpd) starting in January 2019. Helping to put a lid on the markets is fear of

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  • James Hyerczyk
    James Hyerczyk

    Crude Oil Price Update – Overcoming $54.82 Could Trigger Acceleration to Upside

    U.S. West Texas Intermediate crude oil futures are edging lower early Monday after giving up gains from Friday that were fueled by an OPEC-led group’s decision to trim production by 1.2 million barrels per day (bpd) starting in January. Gains are being limited by concerns over a slowing global economy

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  • Colin First
    Colin First

    Commodities Daily Forecast – December 10, 2018

    GoldThe gold prices rallied significantly higher breaking above the $1250 level during the Friday’s session after the release of job numbers. This is obviously a positive sign for the market and will continue to attract buyers. If the gold market breaks above the top of the range of Friday’s session,

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Weekly Forecast – Production Cut Agreement Should Be Supportive

    U.S. West Texas Intermediate and international benchmark Brent crude oil futures finished higher last week, helped by the news that OPEC along with other major exporters including Russia reached an agreement to reduce production in an effort to curtail supply and stabilize prices. Technically, the markets settled higher for a

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