Forecasts & Analysis | Crude oil, Page 2
Coronavirus Worries Still On The Rise
With coronavirus worries on the rise, the market continues to struggle with the unenviable task of factoring in absolute terms its implied economic devastation. Given that China has rapidly increased its role in the global supply chains, the market continues to price in the worst case, negative growth shock scenarios.
Oil Price Fundamental Daily Forecast – Speculators Still in Control; Professionals Looking for Value
We’ve said since the start that with a sell-off fueled by speculators, the market will go down until it hits a value area attractive enough for the professionals to find value.
Crude Oil Price Forecast – Crude Oil Markets Test Support
Crude oil markets have gotten hammered during the trading session again on Monday, reaching down below the $52.50 level in the WTI grade. At this point, the market is due to bounce from an oversold condition.
Crude Oil Price Update – Weakens Under $52.62, Strengthens Over $53.40
Based on the early price action and the current price at $52.63, the direction of the March WTI crude oil futures contract the rest of the session on Monday is likely to be determined by trader reaction to an uptrending Gann angle at $52.62.
Crude Oil Slides to 14-Week Low as China Virus Spreads
Crude oil continues to slide and prices have dropped close to the $52 level on Monday. As China struggles to contain the coronavirus, traders should be prepared for further losses in oil prices.
Crude Oil as the Weakest Link in China’s Coronavirus Panic
The global financial markets remain under pressure, gripped by fears of the new coronavirus’ impact on the economy.
“WARS” Zones Of Another Kind, The Wuhan Acute Respiratory Syndrome
As we open a new chapter on yet another major developing risk event so early in 2020, and after viewing the plethora of media reports from ground zero( Wuhan) it’s increasingly probable that China’s effort has failed to contain this viral outbreak.
Oil Price Fundamental Weekly Forecast – Coronavirus Fears Likely to Keep Pressure on Prices
Since the coronavirus conditions worsened over the weekend, we expect the WTI and Brent crude oil markets to open sharply lower.