Forecasts & Analysis | Crude Oil, Page

  • Colin First
    Colin First

    Commodities Daily Forecast – June 21, 2018

    GoldThe gold prices were mostly stable during the Wednesday’s session hovering around the $1275 level. The market has fallen hard in the last couple of session and is likely to continue weak until it gains significant momentum to continue higher. The $1285 and $1290 level continues to offer strong resistance

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Prices Dip Slightly on Reports Iran May Agree to Small Production Hike

    U.S. West Texas Intermediate and international-benchmark Brent crude oil settled sharply higher as investors continued to position themselves ahead of a key meeting of OPEC producers that may decide to increase global output. Traders primarily ignored the weekly U.S. Energy Information Administration’s inventories report that showed mixed results.Volatility was the

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – volatility continues during Wednesday trading

    WTI Crude OilThe WTI Crude Oil market has been very noisy during the trading session on Wednesday, drifting back and forth between the $64.75 level, and the $66 level as I record this video. If we can continue above the $66 level, that would be a very bullish sign for

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  • James Hyerczyk
    James Hyerczyk

    Crude Oil Price Update – Momentum Will Shift to Upside Through $65.82, Watch for Spike Move

    August West Texas Intermediate crude oil futures are trading slightly better on Wednesday, helped by a friendly American Petroleum Institute inventories report.The news about the outcome of the OPEC meeting in Vienna on June 22-23 remains unchanged. Traders expect Saudi Arabia and Russia to push for an increase in production,

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Prices Firm After API Reports Drop in U.S. Inventories

    U.S. West Texas Intermediate and international-benchmark Brent crude oil futures closed lower on Tuesday as investors continued to express concerns over a possible increase in OPEC crude supply. Also pressuring prices were the escalating trade dispute between the United States and China.August WTI crude oil settled at $65.07, down $078

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – crude oil markets fall apart on Tuesday

    WTI Crude OilThe WTI Crude Oil market has been noisy during the trading session on Tuesday, losing 1.5% right off the bat. The market still has plenty of support underneath though based upon the uptrend line, and I don’t think that we will break down below there before we get

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  • James Hyerczyk
    James Hyerczyk

    Crude Oil Price Update – Bullish Over $65.82, Bearish Under $64.67

    August West Texas Intermediate crude oil futures settled lower on Tuesday as investors continued to brace for the announcement of production hikes at the OPEC meeting in Vienna on June 22-23. Volatility is still at heightened levels, however, because no one is sure of the size of the increase in

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  • Colin First
    Colin First

    Commodities Daily Forecast – June 19, 2018

    GoldThe gold prices moved back and forth during the Monday’s session as traders trying to mark their entry after the weekend and also after the huge fall. The $1275 level underneath continues to offer strong support and break below will be extremely negative and could send the prices towards the

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – oil markets bounce significantly on Monday

    WTI Crude OilThe WTI Crude Oil market spiked on Monday, reaching towards the $65 level and beyond. The market perhaps was a bit oversold, and as I record this video we are positive by 1.3%, and perhaps climbing from there. I think that the market will continue to be very

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Saudi Arabia, Russia Expected to Move Forward with Production Increase

    U.S. West Texas Intermediate and international-benchmark Brent crude oil posted a volatile session on Monday as investors positioned themselves ahead of the OPEC meeting in Vienna on June 22-23.Crude oil plunged early in the session on reports that a group led by OPEC and major OPEC producers, including Russia, planned

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  • Colin First
    Colin First

    Commodities Daily Forecast – June 18, 2018

    GoldThe gold prices broke down significantly during the Friday’s session breaking through the major uptrend line that extends from late 2016. Gold is currently hovering around the $1275 level and could break towards the $1250 level over the longer term. The market is expected to continue volatile as people are

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Increased Production is Coming, How Much and When Are the Questions

    U.S. West Texas Intermediate and international benchmark Brent crude oil futures are trading sharply lower early Monday, pressured by expectations that OPEC and other major Non-OPEC members are preparing to raise output.At 0246 GMT, August WTI Crude Oil is trading $63.59, down $1.26 or -1.94% and August Brent Crude Oil

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  • James Hyerczyk
    James Hyerczyk

    Crude Oil Price Update – Downside Momentum Could Drive Market into $62.99

    U.S. West Texas Intermediate crude oil futures are trading lower early Monday. The price action suggests investors continue to expect OPEC and several major non-OPEC producers to announce an increase in production at the meeting in Vienna on June 22-23. Early guesses are for Saudi Arabia and Russia to push

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Weekly Forecast – Traders Pricing in 1 Millon Bpd OPEC Production Increase

    August West Texas Intermediate and international-benchmark Brent crude oil futures settled lower last week with the Brent contract feeling the brunt of the selling pressure. The weakness was fueled by aggressive position-squaring ahead of next week’s OPEC meeting in Vienna on June 22-23.August WTI crude oil finished the week at

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  • James Hyerczyk
    James Hyerczyk

    Crude Oil Price Update – In Position to Cross to Weak Side of Major 50% Level

    Crude oil futures fell sharply on Friday as investors prepared for next week’s key meeting between OPEC and a few major non-OPEC producers on June 22-23 in Vienna. Sellers returned to the market after several days of counter-trend buying on reports that Saudi Arabia and Russia will announce production hikes

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Weekly Price Forecast – crude oil markets collapse on Friday

    WTI Crude OilThe WTI Crude Oil market initially rallied during the week, reaching towards the $67 level before rolling over and forming a nasty looking candle. We are testing a significant uptrend line on the weekly chart, and I think that we are in serious danger of breaking down below

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – crude oil markets break down on Friday

    WTI Crude OilThe WTI Crude Oil market fell over 3% during trading on Friday, reaching down towards the $65 level and even breaking below it. The market is sitting on an uptrend line, and that of course is an area that will continue to be very important. At this point

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  • Colin First
    Colin First

    Commodities Daily Forecast – June 15, 2018

    GoldThe gold market was extremely volatile and noisy in the Thursday’s session as it tried to break above the $1308 level, the area which is very resistive. If the market breaks above this level and successfully stays above for significant amount of time, it should send the market towards the

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Major Players Reluctant to Take Positions Ahead of OPEC Meeting

    U.S. West Texas Intermediate and international-benchmark Brent crude oil settled mixed on Thursday. The gain by the U.S. market and the loss by the internationally-favored brand helped tighten the spread between WTI and Brent.Heading into next week’s June 22-23 OPEC meeting in Vienna, attendees are going to have to address

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – oil markets continue to be very noisy

    WTI Crude OilThe WTI Crude Oil market has initially tried to rally during the trading session on Thursday but fell to the 50 SMA on the hourly chart to find support at the $66.50 level. Ultimately, I think that the market should continue to find buyers underneath, as we have

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